We compared over 50 lenders for rates, fees, and funding speed to find the best personal loan options available today.
Zogby is an independent, advertising-supported comparison service. We may receive compensation from the companies whose products appear on this site. This compensation may impact how, where, and in what order products appear. Zogby does not include every financial company or every product available in the marketplace.
Key Takeaways
- 1 The best personal loan rates start around 7.99% APR for borrowers with excellent credit, but rates vary widely based on creditworthiness.
- 2 Some top lenders like SoFi charge zero origination fees, late fees, or prepayment penalties, saving you hundreds over the life of the loan.
- 3 Always pre-qualify with multiple lenders using soft credit checks before submitting a full application to compare your actual rates.
- 4 Funding speed ranges from same-day to several business days—LightStream and Best Egg are among the fastest options.
- 5 AI-based lenders like Upstart consider non-traditional factors like education and employment, making them accessible for borrowers with limited credit history.
Our Top Picks for Personal Loans
1. SoFi
APR Range
8.99-25.81%
Loan Amount
$5K-$100K
Funding Speed
1-3 days
Founded in 2011 in San Francisco as a student loan refinancing startup, SoFi (Social Finance) has grown into a full-service digital lender and earned a national bank charter through SoFi Bank in 2022. SoFi charges zero origination fees, zero late fees, and zero prepayment penalties on personal loans—a rarity in the industry. Members gain access to complimentary financial planning sessions with CFP professionals, career coaching, and exclusive events. Their unemployment protection program pauses payments and assists with job placement if you lose your job involuntarily. SoFi has funded over $65 billion in loans since inception and maintains an A+ rating with the BBB.
Pros
- No origination, late, or prepayment fees of any kind
- Unemployment protection with job placement assistance
- Free CFP financial planning and career coaching for members
Cons
- Requires minimum 680 credit score for most applicants
- No co-signer option—applicant must qualify independently
2. LightStream
APR Range
7.99-23.99%
Loan Amount
$5K-$100K
Funding Speed
Same day
LightStream is the online lending division of Truist Bank (formed from the 2019 BB&T and SunTrust merger), backed by over $540 billion in assets. Their Rate Beat Program guarantees they'll beat any qualifying competitor's rate by 0.10 percentage points—you simply submit the competing offer. LightStream offers a 0.50% autopay discount and funds loans as quickly as the same business day for applications approved before 2:30 PM ET. Unlike most lenders, LightStream allows you to choose your loan purpose (home improvement, auto, medical, etc.) and adjusts rates accordingly, with home improvement loans often qualifying for the lowest APRs. They charge absolutely no fees—no origination, no prepayment, no late fees.
Pros
- Rate Beat Program guarantees lowest available rate
- Same-day funding for loans approved before 2:30 PM ET
- Purpose-based pricing with lower rates for home improvement
Cons
- Requires 660+ credit score; best rates need 720+
- No soft-pull pre-qualification—full application required
3. Upstart
APR Range
7.80-35.99%
Loan Amount
$1K-$50K
Funding Speed
1-2 days
Founded in 2012 by ex-Google employees (including former Google Enterprise President Dave Girouard), Upstart pioneered AI-driven lending that evaluates over 1,600 data points beyond traditional FICO scores—including education, employment history, cost of living, and even how applicants interact with the application. This approach has resulted in 75% fewer defaults at the same approval rate compared to traditional models, according to Upstart's internal data. They accept credit scores as low as 300 and have no minimum credit score requirement for consideration. Upstart has facilitated over $30 billion in loans through 100+ bank and credit union partners. Repayment terms range from 3 to 5 years, and 67% of loans are fully automated with instant approval.
Pros
- AI evaluates 1,600+ data points beyond credit score
- No minimum credit score requirement to apply
- 67% of loans are instantly approved and automated
Cons
- Origination fee ranges from 0% to 12% of loan amount
- Maximum loan amount capped at $50,000
4. LendingClub
APR Range
8.98-35.99%
Loan Amount
$1K-$40K
Funding Speed
2-4 days
LendingClub, headquartered in San Francisco, launched in 2007 as America's first peer-to-peer lending platform and has since facilitated over $90 billion in loans. In 2021, LendingClub acquired Radius Bank and became a full-service digital bank—the first fintech marketplace lender to obtain a U.S. banking charter. Their direct payment feature sends consolidation loan funds straight to creditors on your behalf, streamlining the payoff process. LendingClub is one of the few major lenders that accepts joint applications with a co-borrower, which can help applicants with lower credit scores qualify or secure better rates. They offer repayment terms of 24 to 60 months and provide free credit score tracking for all borrowers.
Pros
- Direct creditor payment sends funds to your accounts automatically
- Joint applications accepted to improve qualification odds
- Free ongoing credit score monitoring for all borrowers
Cons
- Origination fee of 3–8% deducted from loan proceeds
- Maximum loan amount capped at $40,000
5. Best Egg
APR Range
8.99-35.99%
Loan Amount
$2K-$50K
Funding Speed
1-3 days
Best Egg, a subsidiary of Marlette Holdings founded in 2014 and headquartered in Wilmington, Delaware, has originated over $24 billion in personal loans to more than 1.3 million customers. Their streamlined application takes under 5 minutes, and most approved borrowers receive funds within 1 business day via ACH transfer. Best Egg offers both unsecured and secured personal loans—the secured option uses a vehicle or other property as collateral and may qualify borrowers for lower rates. They require a minimum credit score of 600 and annual income of at least $15,000. Best Egg also offers a unique credit card product (Best Egg Financial Health) designed to complement their personal loan offerings, allowing customers to build credit alongside their loan repayment.
Pros
- Funding as fast as 1 business day after approval
- Secured loan option available for potentially lower rates
- Low minimums: 600 credit score and $15,000 annual income
Cons
- Origination fee of 0.99–8.99% deducted from proceeds
- Secured loans require pledging vehicle or property as collateral
How to Choose the Right Personal Loan
When comparing personal loans, focus on the annual percentage rate (APR), which includes both the interest rate and any fees. A lower APR means you'll pay less over the life of the loan.
Consider the loan amount range, repayment terms, and how quickly you need the funds. Some lenders offer same-day funding, while others may take several days. Also check whether the lender charges origination fees, prepayment penalties, or late fees.
Always pre-qualify with multiple lenders before applying. Pre-qualification uses a soft credit check that won't affect your credit score, allowing you to compare rates and terms side by side before committing.
Important Tip
Always pre-qualify with multiple lenders before applying. Pre-qualification uses a soft credit check that won't affect your credit score, allowing you to compare rates and terms side by side before committing.
Personal Loans Compared
| Provider | APR Range | Loan Amount | Funding Speed | Rating |
|---|---|---|---|---|
|
SoFi
Top Pick
|
8.99-25.81% | $5K-$100K | 1-3 days |
4.9
|
|
LightStream
|
7.99-23.99% | $5K-$100K | Same day |
4.8
|
|
Upstart
|
7.80-35.99% | $1K-$50K | 1-2 days |
4.7
|
|
LendingClub
|
8.98-35.99% | $1K-$40K | 2-4 days |
4.6
|
|
Best Egg
|
8.99-35.99% | $2K-$50K | 1-3 days |
4.5
|
Our Methodology
Our team spent over 80 hours researching and comparing personal loan lenders, evaluating each on rates, fees, funding speed, and borrower experience to determine our top recommendations.
Interest Rates & APR
30%We compared starting APRs, rate ranges, and how rates vary by credit score to identify lenders offering the most competitive pricing for different borrower profiles.
Fees & Loan Terms
25%We evaluated origination fees, prepayment penalties, late fees, and available repayment terms to assess the true cost and flexibility of each loan.
Borrower Experience
25%We reviewed application processes, pre-qualification availability, customer service quality, and mobile app functionality for each lender.
Eligibility & Accessibility
20%We assessed minimum credit score requirements, income verification processes, and whether lenders consider non-traditional credit factors for approval.
Frequently Asked Questions
Sarah Chen
Senior Senior Financial Editor
Sarah Chen is a certified financial planner (CFP®) and senior editor at Zogby with over 12 years of experience covering personal loans and consumer lending. She holds a degree in Economics from Columbia University and has been published in The Wall Street Journal, Bloomberg, and Forbes. Sarah's work focuses on making complex financial products accessible to everyday consumers.
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Important Loan Disclaimers
- Loan rates and terms shown are subject to change and may vary based on your creditworthiness, loan amount, loan term, and other factors. The rates displayed are not guaranteed and represent a range of possible offers.
- Pre-qualification or pre-approval does not guarantee final loan approval. Final loan terms may differ from the pre-qualified or pre-approved offer after the lender conducts a full underwriting review.
- Checking your rate through pre-qualification typically involves a soft credit inquiry, which does not affect your credit score. However, submitting a formal application will result in a hard credit inquiry, which may temporarily lower your credit score.
- Loan proceeds are typically disbursed after signing loan documents and any applicable rescission period. Disbursement timelines vary by lender.
- Zogby is not a lender. We are an independent comparison service that connects borrowers with lending partners. We do not make credit decisions or extend credit.
The information provided on this page is for general informational and educational purposes only. It is not intended as, and should not be construed as, financial, legal, tax, or investment advice. Always consult with a qualified professional before making any financial decisions.
Editorial Independence
Our recommendations are based on independent research and analysis. While Zogby may receive compensation from some partners listed on this page, our editorial team maintains full independence over our rankings and ratings. Compensation does not influence which products we recommend or how we rate them.