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Top 10 Personal Loan Companies

Laura McCarthy
Last Updated:
  • 200
    Hours of Research
  • 33+
    Sources Used
  • 14
    Companies Vetted
  • 8
    Features Reviewed
  • 10
    Top Picks

For better or worse, most Americans face the need to access additional capital to cover any number of possible expenses. These expenses include, but are not limited to, medical expenses, debt restructuring, investing, entrepreneurship, or just easing the immediate stress of day-to-day life.

Personal loans allow you to borrow money for just about any purpose; however, you should evaluate as many lenders as possible before choosing one. It is important to do this because every borrower's needs and financial situation differ, making loan providers different in important categories like interest rates, repayment periods, credit requirements etc. Fortunately, there are a plethora of personal loan providers who can accommodate almost any situation.



Personal Loan Pro

  • Best for:


    Personal Loan Pro

  • Best for: Comparison

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    • Over 1.7 million users

    • As little as $1,000 or as much as $50,000

    • Lender is charged, not borrower

    Personal Loan Pro is a BBB-accredited business, created in 2017, that seeks to teach its clients about the latest loan products and lenders while also connecting them with the lending sector in general. It was founded and is maintained by On the Barrelhead, LLC (OTB).

    Personal Loan Pro is a loan comparison and marketplace website that assists you in finding the best lender for your borrowing needs. It's a free service that allows you to compare lenders and locate the right ones for you. It's important to note that Personal Loan Pro itself is not a consumer lending company but a loan matching with a network of lenders; some of their partners include popular lenders like Upgrade, SoFi, and Lending Club.

    Personal Loan Pro matches you with loans that are a good fit for you. You'll need to fill out a quick and painless online application, which will not affect your credit score unless you choose one of the borrowing alternatives. This information will be reviewed by the company's database and then depending on factors such as credit score, requested amount, and so on. Various lender alternatives will be presented to you.


    • Provide a list of lenders on their network

    • Offer flexible loans

    • Relatively low rates

    • Easy application process

    • Quick approval and comparison


    • Limited information provided

    • No certainty that loans will be approved

    • Rates and fees are dependent on the lenders, not PersonalloansPro

    Personal Loan Pro



  • Best for:

    Large Loans


  • Best for: Large Loans

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    • Borrow as little as $5,000 and as much as $100,000

    • APRs between 2.49% - 20.49%

    • More than 30 different loan uses are available

    Truist Bank, formerly called SunTrust Bank (Member FDICnational)'s online consumer lending division, LightStream, offers personal loans with relatively low-interest rates. Customers with good to excellent credit scores and histories are the primary target of loans.

    Lightstream offers loans from $5,000 to $100,000 that can be used for a wide range of purposes; it also boasts no origination, late payment, or prepayment fees and offers rate discounts for borrowers who sign up for autopay.

    To apply for a Lightstream personal loan, fill out the online application form found on their webpage. Lightstream will examine your application, and a rigorous credit check will be performed. If your application is approved, you will receive an email with the status of your application.


    • Low rates

    • No hidden fees

    • Large loans are available up to $100,000.

    • Rate Match

    • 0.50% discount with autopay on APR


    • Fixed rate loans

    • Only available to customers with good to excellent credit

    • Requires long credit history

    • Limited to a specific group of consumers




  • Best for:

    Less Than Perfect Credit


  • Best for: Less Than Perfect Credit

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    • Borrow as little as $2,000 and as much as $36,500

    • Apr is between 9.99 to 35.99%

    • Minimum credit score is 580

    LendingPoint is a provider of unsecured personal loans first launched in 2015 for consumers across the credit spectrum; it offers personal loans between $2,000 and $36,500. Its main target market is consumers with bad to fair credit. Though the company's target market is consumers with fair credit, it also looks at more than just credit scores. It also considers the consumers' job stability, financial history, income, and whether your credit is steadily improving.

    Borrowers can use loans for a range of purposes, such as consolidating debt, paying for a wedding, fixing a car, or remodeling a kitchen. Bankruptcy doesn't exempt you from applying for loans. In 2020, up to 7 million people applied for LendingPoint loans.

    They provide relatively small loans; they also charge up to 6% in origination fees. LendingPoint allows customers to prequalify for loans to check eligibility and offers that they can afford. After application and loan approval, the loan is disbursed as early as the next business day.


    • Quick funding

    • Accessible to consumers with fair or bad credit scores.

    • Flexible payment options


    • Possible origination fee

    • High maximum interest rate for lower credit scores

    • No direct payment to creditors for borrowers that borrow for debt consolidation




  • Best for:

    Low Fixed Rates


  • Best for: Low Fixed Rates

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    • Minimum credit score of 560

    • 500,000 customers, with over $7 million disbursed

    • Borrow as little as $1,000 and as much as $50,000

    Upgrade is a fintech firm established in 2017 that offers personal loans to borrowers. The loans can be borrowed for reasons ranging from debt consolidation to home improvements. That said, they do not lend out money for university education expenses.

    Upgrade provides borrowers with personal loans from $1,000 - $50,000, with repayment tenure between 2 and 7 years. Upgrade also charges an origination fee between 2.9% and 8%. The upgrade personal loan application process is completely online; before filling the application form, a prequalification process is available for customers to check loan offers they can afford.

    After this, the online application can be filled and submitted. The loan is approved and disbursed by the next business day.


    • Loan amount as low as $1000

    • Accessible for customers with bad or fair credit.

    • Discount applies for direct debt consolidation payment.


    • Origination fee up to 8%

    • Charges late fee

    • Not available in all States




  • Best for:



  • Best for: Bonuses

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    • Borrow between $5,000 and $100,000

    • APR is 4.99% to 19.63% (includes 0.25% autopay discoun

    • The minimum credit score is 670

    SoFi (an acronym for Social Finance) is an online lending platform that offers unsecured personal loans in every state. Loans range from $5,000 to $100,000 available with periods ranging from two to seven years. While a credit score of 680 is required, high-qualified individuals might qualify for big loan amounts and cheap interest rates.

    Borrowers often receive funds within a few days after approval, and loans can be utilized for personal, family, or household purposes. According to SoFi, personal loans are promoted to persons with a "responsible financial history" and "a robust monthly cash flow."


    • Zero fees

    • Competitively low-interest rates

    • High loan amounts are available up to $100,000

    • Unemployment protection

    • Allows prequalification inquiry

    • Flexible payment options


    • Requires good credit

    • Slower approval and payouts

    • High minimum loan

    • The loans offered have limited uses.

    • Rigorous standards



  • Best for:

    0 Impact Rate Check


  • Best for: 0 Impact Rate Check

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    • Min-Max loan amount is $1,000 - $40,000

    • APR is 7.04 - 35.89%

    • Minimum credit score required is 600

    LendingClub is an online marketplace that uses its network of lending partners to connect borrowers and investors. It aided in developing peer-to-peer marketplace lending, which connects borrowers with lenders willing to fund their loans. LendingClub is best suited to borrowers having a track record of on-time payments and a solid financial history.

    LendingClub analyzes potential borrowers and then manages the loans after they've been accepted. The danger: LendingClub does not ultimately decide whether or not to lend money to investors.

    The decision is based on the LendingClub rating assigned to each authorized borrower based on credit and income data. This information, which is exclusively available to investors, also aids in determining the range of interest rates available to the borrower.


    • Loans as little as $1000 are available

    • Low minimum credit score requirement

    • Joint loan option is available

    • Accessible Prequalification

    • Flexible loan repayment options


    • Origination fees

    • Large loans are unavailable

    • Short loan term

    • Loan disbursement takes longer

    • Fees may apply



    Best Egg

  • Best for:

    Quick Rate Check

    Best Egg

  • Best for: Quick Rate Check

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    • Loan amount is between $2,000 - $50,000

    • Repayment tenure can be up to 5 years

    • Multiple loans are available at once

    Best Egg is an online lender that provides high-income clients with fair to exceptional credit with unsecured personal loans through Cross River Bank and Blue Ridge Bank. Best Egg is a loan platform that specializes in helping borrowers consolidate debt and refinance their credit cards. You don't have to borrow more than you need because loan amounts start at just $2,000 and go up to $50,000.

    Several factors influence whether or not a personal loan application is granted. Underwriting standards vary per lender, but they often include information from an applicant's credit record and other elements that reflect potential to repay the loan, such as income (customers with larger incomes are viable for lower interest rates.)


    • Loan amount is as low as $2000

    • Quick approval and funding

    • Accessible

    • Offers direct payments for Debt Consolidation Customers

    • Flexible payment options

    • No prepayment penalty


    • Apr extends as high as 35.99%

    • Origination fee is charged

    • Inflexible repayment tenure

    Best Egg



  • Best for:

    Next Day Funding


  • Best for: Next Day Funding

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    • Loan amount is between $2,000 - $40,000

    • APRs as low as 7.95%

    • Minimum Credit Score of 640

    Through Web Bank, Prosper offers unsecured personal loans. An unsecured personal loan does not need you to put up any type of collateral, such as a house or car.

    Prosper was founded in 2006, and its one of the first peer-to-peer lending platforms. Through its online platform, Prosper has provided up to $12 billion in personal loans by matching would-be borrowers to potential investors. Nevertheless, Prosper takes longer to approve and pay out loans because investors must choose whether to fund your loan or not.

    Prosper offers loans ranging from $2,000 to $40,000 to people of all 50 states and the District of Columbia. You have the option of taking out a three- or five-year loan. With Prosper, your APR will range from 7.95 percent to 35.99 percent, depending on your creditworthiness and ability to repay the loan, among other things.


    • Accessible

    • Loans have a wide range of uses

    • No minimum income requirement

    • Prequalification available

    • 15 day grace period for late payments




      Spring Loans

    • Best for:

      Fast Approval

      Spring Loans

    • Best for: Fast Approval

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      • Minimum credit score is 400

      • Min-Max amount is $500 - $15,000

      • Loan term ranges between 9 months, 2 years and 4 years

      Spring Financials is a Canadian online consumer lending service established in 2016 that provides a quick personal loan of up to $15,000 to Canadians. Rather than visiting a physical place, all applications can be completed online or over the phone. All can be done in a few minutes. Once you've been authorized (authorization also takes about 1 hour), you can immediately sign the loan forms and receive the monies you've been approved for as soon as the next day.

      They offer personal loans that can be used for various purposes such as debt consolidation, medical emergencies, and large purchases. These loans are accessible to a wide range of consumers because the minimum credit score is low. The loans can also be easily repaid with a flexible payment option that fits you.


      • No hidden fees (prepayment, origination, etc.)

      • You can borrow as low as $500

      • Quick approvals and Quick loan payout

      • Accessible to many borrowers

      • Loan can be used for various purposes

      • Flexible payment options


      • High-interest rates

      • Employment verification is essential

      • May require references

      Spring Loans


      Citi Bank Loans

    • Best for:

      Debt Consolidation

      Citi Bank Loans

    • Best for: Debt Consolidation

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      • Loan amounts as low as $2000 and up to $30,000

      • Loan terms are from 12 months to 5 years

      • Minimum credit score is 670

      Existing Citibank customers can apply for personal loans. Consumer-friendly features include a mobile app to manage the loan and a significant autopay reduction compared to other bank lenders.

      Personal loans are available in amounts as low as $2,000, with fixed interest rates that are competitive. To qualify for the most competitive rates, you must have an eligible Citibank account with enough balances averaged over the last three months, and you must have excellent or good credit.

      Citibank offers personal loans to both salaried and self-employed applicants, allowing them to access funds for various personal financial needs easily. These loans can be availed without collateral, are offered at attractive low-interest rates, and require minimal documentation


      • Competitive interest rates

      • No hidden fees

      • Mobile app is available for easier management of loans

      • No prepayment penalties


      • Only available to Citibank customers

      • Payment takes longer than other lenders

      • Loan payment is delivered in checks

      • Prequalification is not accessible

      • Inflexible repayment options

      Citi Bank Loans

      Compare Best Services1. Personal Loan ProPersonal Loan Pro Comparison View Plans2. LightStreamLightStream Large Loans View Plans3. LendingPointLendingPoint Less Than Perfect Credit View Plans4. UpgradeUpgrade Low Fixed Rates View Plans5. SoFiSoFi Bonuses View Plans6. LendingClubLendingClub 0 Impact Rate Check View Plans7. Best EggBest Egg Quick Rate Check View Plans8. ProsperProsper Next Day Funding View Plans9. Spring LoansSpring Loans Fast Approval View Plans10. Citi Bank LoansCiti Bank Loans Debt Consolidation View Plans
      Reviews 842 reviews 487 reviews 706 reviews 963 reviews 1045 reviews 724 reviews 479 reviews 625 reviews 385 reviews 395 reviews
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      Here's How We Rated the Best Personal Loan Providers

      • Let Us Do The Leg Work

      We understand how tedious and frustrating it can be to sift through all of the companies on the internet on your own. Painting a comprehensive picture of each company is essential in determining which option is best for you, but it requires hours of in depth research. Thankfully, we have a team of expert researchers who have already done the work.

      • How We Earn

      Our ratings and reviews are free for you because some of our partners will pay us a commission when you click one of our links to their site. These paid partners are clearly labeled across the site to ensure full transparency. Our team members do not personally accept compensation for favorable reviews.

      • How We Rank Our Partners

      The rankings of companies on our site can change at any time and are dependent on evolving information on company pricing, customer satisfaction, and more. Compensation in no way fully determines the order in which we rank the providers, and all recommendations are completely unbiased.

      • Our Research Process

      We designed a rubric to objectively evaluate each provider, and our team does extensive research in order to give scores for each metric, like affordability, customer service, average policy value, coverage quality, and more. We analyze thousands of reviews across dozens of sites, along with signing up ourselves so we can compare first hand experiences.

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