Reviews

Best Personal Loans

Access personal loans from credible lenders designed with fair terms to consolidate debt and move you toward financial freedom.

Rickie C. Keys, Ph.D., MPH

Feb 27, 2024 — 19 min read

Access personal loans from our credible lenders, designed with fair terms to consolidate debt and move you toward financial freedom.

Our partnership with personal lenders focuses on providing access to loans with transparent terms and competitive rates. Whether you're consolidating debt, financing a large purchase, or covering unexpected expenses, our lending partners offer solutions that can be tailored to your financial situation. With an emphasis on fair lending practices, these loans are designed to help you manage your finances without falling into debt traps. Our partners are selected for their commitment to helping consumers navigate their financial journey with integrity and support.

Personal Loans

1st Franklin Financial

Features

Geographic Reach: Extensive branch network in Alabama, Georgia, Louisiana, Mississippi, South Carolina, and Tennessee.
Loan Variety: Short to longer-term installment loans with fixed rates, catering to diverse financial needs.
Flexible Terms: Repayment periods range from 6 to 60 months, providing options for various budgeting preferences.
Application Ease: Prospective borrowers can apply online, by phone, or in person, with no mandatory bank account or employment for qualification.

Avant

Features

APR Range: 9.95% to 35.99%, providing a fixed rate for predictability.
Loan Amounts: $2,000 to $35,000 to cover various needs from debt consolidation to home improvements.
Loan Terms: Flexible repayment periods ranging from 24 to 60 months.
Fees:
- Origination Fee: Up to 4.75%, deducted from the loan amount.
- Prepayment Fee: $0, allowing for early repayment without penalties.
- Late Fee: A $25 fee applies for payments over 10 days late.
Application Requirements:
- Minimum age of 18.
- U.S. citizenship or permanent residency.
- A valid Social Security number.

Best Egg

Features

APR Range: Offers competitive rates from 8.99% to 35.99%, ensuring fixed payments.
Loan Amounts: Flexible options between $2,000 and $50,000 to accommodate various financial needs.
Repayment Terms: Up to 60 months, providing ample time for borrowers to manage repayment.
Fees:
- Origination Fee: Ranges from 0.99% to 8.99%, directly deducted from the loan amount.
- Late Fee: A flat rate of $15 for missed payments, highlighting the importance of promptness.

Sun Loan

Features

Wide Presence: More than 280 offices in Alabama, Illinois, Missouri, Nevada, New Mexico, Oklahoma, and Texas.
Flexible Loan Terms: Repayment terms vary from 4 to 48 months, accommodating different financial needs.
Loan Amounts: Offers loans ranging from $150 to $5,000, catering to various borrowing needs.
Application Process: Consumers can apply online, by phone, or in person at local branches.
Credit Reporting: Repayment activity is reported to major credit bureaus, aiding in credit history building.

Universal Credit

Features

Online Service: Universal Credit operates digitally, partnering with reputable financial institutions to offer personal and debt consolidation loans.
Rapid Funding: Loans are typically funded within 1 business day, facilitating urgent financial needs.
Flexible Repayment Terms: Offers a choice of 36 or 60 months for loan repayment, accommodating different financial situations.
Early Repayment Option: Borrowers can repay loans early without incurring any penalties, providing flexibility and potential savings on interest.

Upgrade

Features

APR Range: From competitive rates of 8.99% to a high of 35.99%, offering predictability in repayments.
Loan Amounts: From $2,000 to $50,000, accommodating various financial needs and projects.
Loan Terms: Flexible options ranging from 24 to 84 months provide borrowers ample time to repay.
Fees:
- Origination Fee: Between 1.85% to 9.99%, which is deducted from the loan amount.
- Late Fee: A reasonable $10 fee for payments past the 15-day grace period.

Upstart

Features

APR Range: 6.4% to 35.99%, catering to various credit profiles.
Loan Amounts: Offers loans from $1,000 to $50,000, accommodating various financial needs.
Terms: Repayment terms vary, providing flexibility to borrowers.
Fees:
- Origination Fee: Ranges from 0% to 8%, affecting the final loan amount.
- Late Fee: Charges a $15 fee or 5% of the past due amount, whichever is greater, after a 10-day grace period.

Debt Consolidation

Achieve

Features

APR Range: 8.99% to 35.99%, accounting for origination fees.
Loan Purposes: Suited for debt consolidation and major purchases.
Amounts Available: $5,000 to $50,000, catering to significant financial needs.
Repayment Terms: Flexible options from 24 to 60 months.
Minimum Credit Score: 620, welcoming a wider range of borrowers.
Origination Fee: Between 1.99% and 6.99%, deducted from the loan amount.
Prepayment Penalty: None, encouraging early repayment.

Best Egg

Features

APR Range: Offers competitive rates from 8.99% to 35.99%, ensuring fixed payments.
Loan Amounts: Flexible options between $2,000 and $50,000 to accommodate various financial needs.
Repayment Terms: Up to 60 months, providing ample time for borrowers to manage repayment.
Fees:
- Origination Fee: Ranges from 0.99% to 8.99%, directly deducted from the loan amount.
- Late Fee: A flat rate of $15 for missed payments, highlighting the importance of promptness.

Discover

Features

APR Range: 7.49% - 24.99%, making it a competitive option in the personal loan market.
No Major Fees: With a $0 origination fee and a $0 prepayment fee, Discover stands out among lenders. The only notable fee is a $39 late fee.
Quick Funding: Loans are typically funded as soon as the next business day after approval.
Loan Amounts: Offers a range of $2,500 - $40,000, catering to various borrowing needs.
Repayment Terms: Flexible payoff periods of 36, 48, 60, 72, or 84 months, which is longer than many competitors offer.
Pre-Qualification Available: Prospective borrowers can pre-qualify via Discover's website, offering insight into potential rates without impacting credit scores.

Happy Money

Features

Credit Score Requirement: Accessible to individuals with a minimum credit score of 600.
Loan Purpose: Exclusively designed for credit card debt consolidation.
Origination Fee: Charges an origination fee of up to 5%.
Loan Amounts: Offers loans ranging from $5,000 to $40,000.
Loan Terms: Flexible repayment periods between 24 to 60 months.
No Late or Pre-Payment Fees: Encourages timely repayment without penalizing for early payoff.

LendingClub

Features

APR Range: Fixed-rate APRs from 9.57% to 35.99%, accommodating borrowers with bad-to-fair credit.
Loan Amounts: Offers loans ranging from $1,000 to $40,000, catering to various financial needs.
Term Lengths: Flexible repayment terms between 24 to 60 months.
Origination Fee: A fee of 3% - 8% of the loan amount, which depends on the borrower's creditworthiness.
No Prepayment Penalties: Allows borrowers to pay off loans early without incurring extra fees.
Application Process: Exclusively online, with the option for joint applications to improve approval odds.
Speed of Funding: Potential for next-business-day funding.

LightStream

Features

APR Range: Competitive APRs between 7.49% and 25.99%, making it a cost-effective option for borrowers with good to excellent credit.
Loan Amounts: Offers a wide range of loan amounts from $5,000 to $100,000 to cater to various financial needs.
Term Lengths: Flexible repayment terms from 24 to 144 months, allowing borrowers to tailor their payment plan.
No Fees: Zero origination or prepayment fees, reducing the overall cost of the loan.
Co-Applicants Allowed: Provides the option to apply with a co-applicant, potentially securing better rates and terms.
Rate Beat Program: Commits to beating competitor APRs by 0.1 percentage points, ensuring competitive rates.

PNC Bank Personal Loan

Features

Interest Rates: Competitive APRs ranging from 5.99% - 32.24%, tailored based on the applicant's creditworthiness.
Loan Amounts: Offers a broad spectrum of loan amounts, from $1,000 to $35,000, catering to various financial needs.
Payback Periods: Flexible repayment options with terms from 12 to 60 months provide borrowers ample time to repay.
Fees: Advantageously, PNC personal loans come with no origination fee, reducing the overall cost for borrowers.
Funding Timeline: Swift processing with the possibility of receiving funds as soon as the same day of approval.
Application Requirements: Open to individuals over 18 with an SSN, ITIN, or passport.

SoFi

Features

APR Range: Competitive fixed APRs from 8.99% to 29.99% with all discounts applied.
Loan Amounts: Generous funding options range from $5,000 to $100,000.
Repayment Terms: Flexible loan terms from 24 to 84 months, catering to different financial plans.
Fees: No origination or late fee, making the loan more affordable.
Funding Timeline: Potential for same-day funding, though timelines may vary.
Application Process: Pre-qualification is available online with account creation.

Universal Credit

Features

Online Service: Universal Credit operates digitally, partnering with reputable financial institutions to offer personal and debt consolidation loans.
Rapid Funding: Loans are typically funded within 1 business day, facilitating urgent financial needs.
Flexible Repayment Terms: Offers a choice of 36 or 60 months for loan repayment, accommodating different financial situations.
Early Repayment Option: Borrowers can repay loans early without incurring any penalties, providing flexibility and potential savings on interest.

Upgrade

Features

APR Range: From competitive rates of 8.99% to a high of 35.99%, offering predictability in repayments.
Loan Amounts: From $2,000 to $50,000, accommodating various financial needs and projects.
Loan Terms: Flexible options ranging from 24 to 84 months provide borrowers ample time to repay.
Fees:
- Origination Fee: Between 1.85% to 9.99%, which is deducted from the loan amount.
- Late Fee: A reasonable $10 fee for payments past the 15-day grace period.