How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- SoFi and LightStream offer the strongest value for good to excellent credit, with no origination fees and large loan amounts up to $100,000.
- Marcus by Goldman Sachs suits borrowers who want no fees and flexible payment options, with loans from $3,500 to $40,000.
- Upstart and LendingClub help borrowers with fair or thin credit, using alternative data or co-borrower options, though rates can be high.
- Avant and OneMain Financial serve fair to poor credit, with branch support at OneMain and online access at Avant, but rates and fees need careful review.
- Prequalifying with a soft credit check lets you compare real rates without hurting your credit score, so get at least three offers before choosing.
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The best personal loan companies
Personal loans differ more than the headline rate suggests. Loan amounts, terms, origination fees, funding speed, and credit requirements all change the total cost. A loan with a low rate but a high origination fee can cost more than a slightly higher rate with no fee. This guide covers eight lenders across good, fair, and poor credit, with clear notes on fees and trade-offs. This is not financial advice, and rates, eligibility, and terms vary by credit, income, state, and loan purpose. Always read the loan agreement before signing.
Starting priceSee website
Free planNo
SoFi is a strong choice for borrowers with good to excellent credit who want a simple, fee free loan. There are no origination fees, late fees in some cases are limited, and prepayment carries no penalty, which makes the total cost easier to compare. Loan amounts run from $5,000 to $100,000, with terms from two to seven years, and funding can arrive the same day after approval in many cases. Unemployment protection lets eligible borrowers pause payments for a period after job loss, subject to terms.
The main limit is credit. SoFi favors higher credit scores, so fair credit borrowers may get a high rate or a decline. The $5,000 minimum also rules out very small loans. For a borrower with solid credit who wants no fees and a large loan, SoFi is a leading option.
What we like- No origination or prepayment fees
- Loans from $5,000 to $100,000
- Same day funding in many cases
- Unemployment protection for eligible borrowers
Watch out for- Higher credit requirements than fair credit lenders
- Minimum loan is $5,000
- Rates vary widely by credit and term
#2LightStream
Best for: Excellent credit, large loans4.7/5 on
G2 (23 reviews, checked Oct 2026)
Visit lightstream.com
Starting priceSee website
Free planNo
LightStream, part of Truist, targets excellent credit borrowers with large loan needs. There are no origination fees or prepayment penalties, and terms run from two years to up to 20 years for certain purposes such as home improvement. Same day funding is available in many cases, and a rate beat program offers to beat a qualifying competitor rate by a small margin, subject to terms. Loan amounts from $5,000 to $100,000 cover major purchases, debt consolidation, and home projects.
Excellent credit is needed for the best rates, and borrowers with fair credit will likely find better options elsewhere. The process is online, which suits digital first borrowers but not those who want branch help. For a top credit borrower financing a large purchase, LightStream offers some of the lowest total costs in this list.
What we like- No fees
- Loans from $5,000 to $100,000
- Long terms up to 20 years for some purposes
- Same day funding
- Rate beat program in many listings
Watch out for- Requires excellent credit for best rates
- Minimum loan is $5,000
- Online only process may suit some borrowers less
Starting priceSee website
Free planNo
Marcus by Goldman Sachs is known for simplicity and flexibility. There are no fees, including no origination, prepayment, or late fees in many listings, and borrowers can choose a payment date and change it. An autopay discount can lower the rate, and terms run from three to six years. Loan amounts from $3,500 to $40,000 suit debt consolidation, home improvement, and other mid-size needs.
The $40,000 maximum is lower than SoFi and LightStream, so large loans need another lender. Funding also takes one to four days in many cases, slower than same day lenders. For a borrower who wants no fees and control over payment timing, Marcus is a strong, low stress choice.
What we like- No origination or prepayment fees
- Flexible payment dates
- Autopay discount in many listings
- Loans from $3,500 to $40,000
Watch out for- Maximum loan is $40,000
- Funding takes one to four days in many cases
- No co-borrower option in many listings
Starting priceSee website
Free planNo
Discover personal loans suit debt consolidation, thanks to direct payment to creditors. Instead of receiving funds and paying cards manually, Discover can send payments directly to creditors, which reduces the risk of spending the loan elsewhere. There are no origination fees or prepayment penalties, and terms run from three to seven years in many listings. Loan amounts from $2,500 to $40,000 cover many consolidation needs.
The maximum is lower than SoFi and LightStream, and rates depend heavily on credit. Funding is usually next day rather than same day. For a borrower consolidating credit card debt who wants no fees and direct creditor payment, Discover is a practical choice.
What we like- No origination fees
- Direct payment to creditors for debt consolidation
- US based support
- Loans from $2,500 to $40,000
Watch out for- Maximum loan is $40,000
- Rates vary by credit
- Funding takes a day or more in many cases
Starting priceSee website
Free planNo
Upstart uses AI underwriting that considers education, employment, and other factors alongside credit score, which helps borrowers with thin credit or limited history. Loan amounts run from $1,000 to $75,000 in many listings, with terms of three or five years, and funding can arrive the next day after approval. Soft pull prequalification lets borrowers check a rate without hurting their credit score.
The cost can be high. Origination fees run up to 10 percent in many listings, and APRs can reach 35.99 percent for lower credit borrowers, so the total cost needs careful review. Terms are limited to three or five years, with no longer option. Upstart fits a fair credit borrower who cannot get approved elsewhere, provided the rate and fee still make the loan worthwhile.
What we like- AI underwriting looks beyond credit score
- Accepts thin credit and lower scores in many cases
- Fast funding
- Soft pull prequalification
Watch out for- Origination fees up to 10 percent in many listings
- Rates can reach 35.99 percent APR
- Terms limited to three or five years
Starting priceSee website
Free planNo
LendingClub, now operating as a bank, suits fair credit borrowers who can apply with a co-borrower. A co-borrower with stronger credit can improve approval odds and lower the rate, which is useful for borrowers building credit. Loan amounts from $1,000 to $40,000, with terms from two to seven years in many listings, cover consolidation and mid-size needs. Direct payment to creditors is available for debt consolidation.
Origination fees apply in many cases, and rates for fair credit can be high, so compare the APR, not just the monthly payment. Funding takes two to four days in many cases, slower than same day lenders. For a fair credit borrower with a trusted co-borrower, LendingClub is a useful option.
What we like- Co-borrower option can improve approval and rate
- Loans from $1,000 to $40,000
- Direct payment for debt consolidation
- Online process
Watch out for- Origination fees apply in many cases
- Rates can be high for fair credit
- Funding takes two to four days in many cases
Starting priceSee website
Free planNo
Avant serves borrowers with fair to poor credit who want an online process. Minimum scores near 580 in many listings make approval possible for borrowers declined by SoFi or LightStream, and funding can arrive the next day after approval. Loan amounts from $2,000 to $35,000, with terms from two to five years, cover emergencies, consolidation, and mid-size expenses.
Costs are high, with origination fees up to 9.99 percent and APRs up to 35.99 percent in many listings, so the loan should only be used when the need justifies the cost and the monthly payment fits the budget. Avant fits a borrower who needs online access and has fair to poor credit, but the total cost must be checked against other options, including credit unions.
What we like- Accepts fair to poor credit with scores from 580 in many listings
- Online application
- Next day funding in many cases
- Loans from $2,000 to $35,000
Watch out for- Origination fees up to 9.99 percent in many listings
- Rates can reach 35.99 percent APR
- Terms limited to two to five years
Starting priceSee website
Free planNo
OneMain Financial is the most accessible option in this list for bad credit. There is no minimum credit score in many listings, secured loans are available using collateral, and branch staff can help in person, which suits borrowers who prefer face to face support. Loan amounts run from $1,500 to $20,000 in many listings, with same day funding in many cases after approval.
Rates are high, reaching 35.99 percent APR in many listings, and secured loans put collateral at risk if payments are missed. Loan amounts are also lower than online leaders. OneMain fits a borrower with poor credit who needs a smaller loan and values branch support, but the cost and collateral risk require careful review before signing.
What we like- Accepts bad credit with no minimum score in many listings
- Secured loan option
- Branch support and in-person help
- Same day funding in many cases
Watch out for- Rates can reach 35.99 percent APR
- Loan amounts capped near $20,000
- Origination fees vary by state
- Secured loans risk collateral
How we chose
We compared lender pricing pages, loan terms, fee disclosures, and public reviews on G2, Capterra, and Reddit, focusing on APR ranges, origination fees, loan amounts, terms, funding speed, and credit requirements. Lenders were scored on total cost for good, fair, and poor credit, fee transparency, and funding speed. Company size was considered for stability and branch access, but online lenders were included when they offered better rates or access for thin credit. Rates change with credit, income, and market conditions, so we used See website for starting price and described APR ranges only where they were widely published, and borrowers should confirm their own offer with a soft pull.
How to compare offers without hurting your score
Prequalify with at least three lenders using soft credit checks, which do not affect your score. Compare APR, not just interest rate, since APR includes origination fees. Check loan amount, term, monthly payment, total interest, prepayment penalties, and late fees. A longer term lowers the monthly payment but raises total interest, so choose the shortest term you can afford comfortably. Avoid borrowing more than needed, and confirm funding timing if the loan is for an urgent expense.
Credit unions and secured options
Credit unions often offer lower rates than online lenders for fair credit, with smaller fees and more flexible underwriting, though membership is required. Navy Federal and PenFed are examples for eligible members, with lower APR caps in many listings. Secured loans, using a vehicle or savings as collateral, can lower rates for poor credit, but they risk the collateral if payments stop. Compare a credit union offer before accepting a high rate online loan.
Frequently asked questions
What is the best personal loan company overall?
SoFi is the best overall choice for good credit borrowers, thanks to no fees and large loan amounts. LightStream is better for excellent credit and very large loans, while Marcus suits borrowers who want no fees and flexible payments. Fair and poor credit borrowers should compare Upstart, LendingClub, Avant, and OneMain.
Can I get a personal loan with bad credit?
Yes, though rates will be high. Avant accepts scores from 580 in many listings, and OneMain Financial has no minimum score in many listings, with secured options. Credit unions may offer lower rates for members. Compare total cost, and avoid borrowing more than you can repay on time.
What is the difference between APR and interest rate?
Interest rate is the cost of borrowing the principal, while APR includes interest plus fees such as origination fees, expressed as a yearly rate. APR gives a fuller comparison between loans, especially when one lender charges a large origination fee and another charges none. Always compare APR for the same loan amount and term.
How fast can I get a personal loan?
SoFi, LightStream, and OneMain offer same day funding in many cases after approval, while Upstart and Avant often fund the next day. Marcus, Discover, and LendingClub usually take one to four days. Funding speed depends on approval time, verification, and bank processing, so apply early for urgent needs.
Do personal loans hurt my credit score?
Prequalification with a soft pull does not hurt your score, but a full application triggers a hard inquiry, which can lower your score slightly for a short time. Making on-time payments can help build credit, while missed payments hurt it sharply. Avoid applying to many lenders at once with hard pulls.
Should I use a personal loan to pay off credit cards?
A personal loan can help if its APR is lower than your card rates, the monthly payment fits your budget, and you stop adding card debt. Direct payment to creditors, offered by Discover and LendingClub, reduces the risk of spending the loan elsewhere. If the loan rate is close to your card rate, or fees are high, consolidation may not save money.
Sources we checked (8)
- https://www.sofi.com
- https://www.lightstream.com
- https://www.marcus.com
- https://www.discover.com/personal-loans
- https://www.upstart.com
- https://www.lendingclub.com
- https://www.avant.com
- https://www.onemainfinancial.com
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.
SoFi
Marcus by Goldman Sachs
Discover
Upstart
LendingClub
Avant
OneMain Financial