Personal Loans Compared

Personal loans are often a good alternative to credit cards for financing large purchases that you need a year or more to repay.

You can use personal loans for anything—debt consolidation, home improvement, a wedding or vacation. Personal loans work just like a mortgage or car loan. Once approved, you get cash in your bank account . You then make a fixed monthly payment (principal plus interest) for a fixed number of years (the term). Most personal loans terms are between three and five years.

Here are our some recommended personal loan providers. Lenders at the top have the best interest rate but require the best credit to qualify. Other lenders offer loans to all credit types, but may come with much higher APRs. Proceed carefully. Advertising Disclosure

Low APR personal loans for excellent credit

Well-qualified applicants can borrow up to $100,000 at low rates.

  • Rates from 5.5% to 9.99% APR with Auto-Pay
  • See if you’re pre-qualified online; no fees, no obligation
  • No origination fees; no application fees; no prepayment fees; and no balance transfer fees
  • Loans from $5,000 to $100,000
  • We provide unemployment protection to our community members
APR Range Terms Amount Fees Credit Accepted
5.5% – 9.99% 3, 5 or 7 years $5,000 – $100,000 None Excellent

A very low APR range; requires flawless credit

  • Excellent credit required (min. 5 years credit history with no delinquencies)
  • Rates as low as 1.99% for certain loan amounts and uses
  • No fees
  • Loans from $5,000 to $100,000
  • Get a decision on the same business day
APR Range Term Amount Fees Credit Accepted
1.99% – 9.99% 2 – 7 years $5,000 – $100,000 None Excellent

Personal loans for average to good credit

Fair loan rates for college grads, even with no credit history

Upstart is new kind of lender that considers your education and job to be as important as your credit score when making a loan. That means that young adults can get loans with Upstart even without a credit history if you’re a college a graduate and employed. On average, Upstart APRs are 30% lower than other lenders.

APR Range Term Amount Fees Credit Accepted
4.67% – 25.27% 3 years $3,000 – $35,000 1% – 6% Any

3- or 5- year loans for most credit levels.

Prosper is a peer-to-peer lender, meaning you’re borrowing from hundreds of individual investors, not a bank. As a result, many borrowers who cannot get approved for a bank personal loan have success with Prosper. The better your credit, the lower your APR, and the interest rates for borrowers with poor credit can get steep. There’s also a one-time closing fee of between 2 and 5 percent (again, this depends on your creditworthiness).

APR Range Terms Amount Fees Credit Accepted
5.99% – 35.36% 36 or 60 months $2,000 – $35,000 2%-5% of loan amount Average, Good, Excellent

3- or 5- year loans for any purpose.

Like Prosper, LendingClub is a peer-to-peer lender, not a bank. This means approval decisions are made based on more than your credit score alone. Investors have been hungry to fund these kinds of loans recently, meaning approval chances are good — but you don’t know what your interest rate will be until you apply (although you don’t have to accept the loan if you don’t like the rate). As with Prosper, a one-time origination fee of between 1.11 and 5 percent applies at closing.

APR Range Terms Amount Fees Credit Accepted
5.99% – 32.99% 36 or 60 months $1,000 – $35,000 $1.11% – 5.00% Average, Good, Excellent

Personal loans for all credit levels

Next business day funding; check your rate without affecting your credit score.

Avant is an online lender that offers personal loans and credit lines between $1,000 and $35,000 for many credit levels. With Avant, you can apply for and sign your loan entirely online and, in many cases, funds are deposited into your bank account on the next business day. Avant’s Website lets you check your loan rate before you apply so it doesn’t affect your credit.

APR Range Term Amount Fees Credit Accepted
Varies by state 12- 48 months $1,000 – $35,000 None All Credit Levels

Personal loans for up to $10,000; perfect credit not required

NetCredit offers fast and easy online approval for personal loans in the following states: Alabama, California, Delaware, Georgia, Idaho, Missouri, New Mexico, North Dakota, South Carolina, South Dakota, Utah, Virginia, and Wisconsin.

NetCredit features friendly customer service, funding straight to your bank account, and the opportunity to build credit as you pay off you loan on time. Plus, you can check your eligibility without affecting your FICO® score.

APR Range Terms Amount Fees Credit Accepted
Varies by credit 12 – 60 months $1,000 – $10,000 None Most credit levels

Easy personal loan approval for most applicants

You can use a personal loan from Springleaf Financial Services for a wide range of purposes.

APR Range Terms Amount Fees Credit Accepted
15.99%-39.99% 12 – 60 months $1,000 – $25,000 Origination fee; varies Most credit levels

Advertising Disclosure

Some lenders on this page are affiliates of Money Under 30, meaning if you get a loan through them, we earn a commission—at no additional cost to you. If you choose to support our free content in this way, thanks!