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The 7 best personal loan lenders

We compared the top personal loan lenders on APR ranges, fees, loan amounts and funding speed, so you can find a fit whether your credit is excellent, fair or still on the thin side.

Last reviewed: · Reviewed by the TheSavvyAmericans editorial team

The 7 best personal loan lenders

We compared leading lenders on their APR ranges, fees, how much you can borrow, how fast they fund and which credit profiles they actually serve. Rates and terms shift constantly and depend heavily on your own profile, so treat the details below as a starting point, not a quote, and confirm your real offer by prequalifying on each lender's official site.

01
Our top pick

SoFi

APR: Low (strong credit)

Best overall

  • No required origination, prepayment or late fees
  • High maximum loan amount
4.7 / 5
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SoFi offers large unsecured personal loans with no required origination fee, no late fees and same-day funding for many borrowers, plus member benefits like unemployment protection. It is best for people with good to excellent credit who want a sizable loan.

Also worth knowing

  • Fast, often same-day funding
  • Member benefits and rate discounts

Cons

  • Best rates need good to excellent credit
  • Not ideal for small loan amounts
  • No secured or co-signed option in every case
Loan amounts
Up to $100k
APR
Low (strong credit)
Origination fee
None required
Funding
As soon as same day
Best credit
Good to excellent
02
Best low APR

LightStream

APR: Very low (excellent credit)

Best rates for excellent credit

  • Among the lowest APRs for excellent credit
  • No fees of any kind
4.6 / 5
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A division of Truist, LightStream targets borrowers with strong credit and offers some of the lowest APRs available, with no fees and a rate-beat program. It funds large loans quickly, often the same day.

Also worth knowing

  • High loan amounts and long terms
  • Same-day funding available

Cons

  • Requires strong, established credit
  • No prequalification with a soft pull
  • No joint-loan dashboard tools
Loan amounts
Up to $100k
APR
Very low (excellent credit)
Origination fee
None
Funding
As soon as same day
Best credit
Excellent

Every pick on this page: independently researched · ranked on our published methodology · compensation never sets the order

03
Best for thin credit

Upstart

APR: Wide range

Best for fair or limited credit

  • Considers more than just your credit score
  • Accessible to fair and thin-credit borrowers
4.3 / 5
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Upstart uses a model that weighs factors beyond your score, such as education and employment, which can help newer or fair-credit borrowers qualify. Loan amounts are smaller and an origination fee often applies.

Also worth knowing

  • Fast decisions and funding
  • Soft-pull prequalification

Cons

  • Origination fee can be high
  • Lower maximum loan amount
  • APRs can be steep for weaker profiles
Loan amounts
Up to $50k
APR
Wide range
Origination fee
Possible (to ~12%)
Funding
Often next day
Best credit
Fair to good
04
Best flexible

Upgrade

APR: Wide range

Best for fair credit and flexibility

  • Accessible to fair-credit borrowers
  • Direct-to-creditor payoff for consolidation
4.2 / 5
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Upgrade offers accessible personal loans with the option to pay creditors directly for consolidation, plus a secured-loan path for borrowers who need it. An origination fee applies and is deducted from your funds.

Also worth knowing

  • Secured and joint options available
  • Soft-pull prequalification

Cons

  • Origination fee reduces the amount you receive
  • APRs run higher for weaker credit
  • Lower maximum loan amount
Loan amounts
Up to $50k
APR
Wide range
Origination fee
Yes (deducted)
Funding
A few business days
Best credit
Fair to good
05
Best no-fee consolidation

Discover Personal Loans

APR: Fixed, mid-range

Best for debt consolidation

  • No origination fee
  • Direct payment to creditors for consolidation
4.2 / 5
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Discover offers fixed-rate personal loans with no origination fee and the option to send funds directly to your creditors, which makes it a clean choice for consolidating credit card debt. It also has a 30-day money-back guarantee.

Also worth knowing

  • 30-day money-back guarantee
  • Solid customer support

Cons

  • Requires good credit to qualify well
  • No secured or co-signed option
  • Lower maximum than SoFi or LightStream
Loan amounts
Up to $40k
APR
Fixed, mid-range
Origination fee
None
Funding
As soon as next day
Best credit
Good
06
Best fast funding

Best Egg

APR: Wide range

Best for quick funding

  • Quick application and funding
  • Secured option for lower rates
4.1 / 5
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Best Egg is known for fast, straightforward personal loans and offers a secured option that can unlock lower rates. An origination fee applies, so factor it into your total cost.

Also worth knowing

  • Soft-pull prequalification
  • Serves a range of credit profiles

Cons

  • Origination fee applies
  • Lower maximum loan amount
  • Best rates still need strong credit
Loan amounts
Up to $50k
APR
Wide range
Origination fee
Yes
Funding
As soon as next day
Best credit
Fair to good
07
Best for joint loans

LendingClub

APR: Wide range

Best for joint applications

  • Joint applications supported
  • Established marketplace lender
4.0 / 5
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LendingClub is a long-running marketplace lender that allows joint applications, which can help you qualify or get a better rate with a co-borrower. An origination fee applies and funding takes a few days.

Also worth knowing

  • Soft-pull prequalification
  • Direct creditor payoff option

Cons

  • Origination fee reduces your proceeds
  • Funding is not instant
  • Lower maximum loan amount
Loan amounts
Up to $40k
APR
Wide range
Origination fee
Yes (deducted)
Funding
A few business days
Best credit
Fair to good

Side by side

Personal loan lenders compared at a glance
#ServiceBest forRatingLoan amountsOrigination feeFunding
1SoFiBest overall4.7 / 5Up to $100kNone requiredAs soon as same day
2LightStreamBest rates for excellent credit4.6 / 5Up to $100kNoneAs soon as same day
3UpstartBest for fair or limited credit4.3 / 5Up to $50kPossible (to ~12%)Often next day
4UpgradeBest for fair credit and flexibility4.2 / 5Up to $50kYes (deducted)A few business days
5Discover Personal LoansBest for debt consolidation4.2 / 5Up to $40kNoneAs soon as next day
6Best EggBest for quick funding4.1 / 5Up to $50kYesAs soon as next day
7LendingClubBest for joint applications4.0 / 5Up to $40kYes (deducted)A few business days

Ratings are TheSavvyAmericans editorial scores based on the criteria in the methodology section below, not user reviews or paid placements. Features and pricing change often, so confirm the current details on each provider’s official site before you sign up.

Important: A personal loan is still debt with interest attached, so it is worth a moment of honesty with yourself. Borrow only what you need, compare the total cost (APR plus any origination fee), and make sure the fixed monthly payment fits your budget for the entire term, not just the first few months. Missing payments can dent your credit and pile on fees.

Advertising disclosure: TheSavvyAmericans may receive compensation when you apply for or open a product through links on this page. This does not influence our editorial evaluations. Products are reviewed using a documented methodology. Learn how we make money.

Key takeaways

  • 1Our top overall pick is SoFi, thanks to high loan amounts, no required fees and member perks. It shines if your credit is good to excellent, less so otherwise.
  • 2If you have excellent credit and want the lowest rate, LightStream is the one to beat. If your credit is fair or thin, Upstart and Upgrade are far more likely to say yes.
  • 3Here is the thing to internalize before you shop: the APR you are offered hinges on your credit, income and term, so prequalify (a soft credit check) with two or three lenders before you formally apply. Do not assume the advertised rate is yours.
  • 4Keep one eye on origination fees. Some lenders quietly deduct 1 to 12 percent from the amount you actually receive, which raises your true cost even when the APR looks identical.

How we picked and scored these lenders

We rank lenders independently, and compensation never sets the order. The reason we lean on "best for" labels rather than crowning one universal winner: the same lender can be a genuinely great deal for one borrower and a poor one for the next. So we weight transparency and total cost heavily and try to say plainly who each lender suits.

  • Total cost: the APR range plus any origination fee, which together determine what you really pay.
  • Fees: origination, late and prepayment fees, and whether any are avoidable.
  • Loan amounts and terms: whether the lender fits small and large needs and offers terms that keep payments manageable.
  • Credit access: which credit profiles can realistically qualify, and whether prequalification uses a soft pull.
  • Funding speed: how quickly approved funds arrive.
  • Useful features: direct creditor payoff, secured or joint options, and hardship protections.

Good to know: As always, these ratings are our editorial assessments, not user reviews. APRs, fees and terms change often and depend on your profile, so confirm your actual offer by prequalifying on each lender's official site.

How to compare personal loans

  1. 1Prequalify with two or three lenders using their soft-pull tools so you can compare real offers without hurting your score.
  2. 2Compare APR, not just the interest rate, because APR includes the origination fee and reflects the true cost.
  3. 3Check the origination fee: a loan with a lower APR but a big fee can cost more than one with a slightly higher APR and no fee.
  4. 4Match the term to your goal: a longer term lowers the monthly payment but raises total interest.
  5. 5Confirm there is no prepayment penalty so you can pay it off early if you can.

Frequently asked questions

What credit score do I need for a personal loan?
It varies by lender, which is the honest if slightly unsatisfying answer. The best rates generally go to borrowers with good to excellent credit (roughly 690 and up), but lenders like Upstart and Upgrade work with fair or thin credit, usually at higher APRs. Prequalifying with a soft credit check shows what you can actually get without touching your score.
Does checking personal loan rates hurt my credit?
No. Prequalifying uses a soft credit inquiry, which does not affect your score, so you can compare several lenders freely, and you should. A hard inquiry only happens when you formally apply, and even then the impact is usually small and temporary.
What is an origination fee?
An origination fee is an upfront charge some lenders quietly deduct from your loan, often 1 to 12 percent. Borrow $10,000 with a 5 percent fee and you receive $9,500 but repay the full $10,000. This is exactly why you compare APR, which folds in the fee, rather than the headline interest rate.
How fast can I get the money?
Several lenders on this list can fund as soon as the same or next business day after approval, while others take a few business days. Your own bank plays a role too. If speed genuinely matters, confirm the funding timeline before you apply rather than assuming.

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