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Loan Market Overview
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Whether you need a loan or want to consolidate debt, find the right option for your situation.
Best Personal Loans
Compare rates from top lenders — fixed rates starting at 6.99%
Bad Credit Loans
Get approved with a lower credit score
Debt Consolidation
Combine multiple debts into one lower payment
Home Improvement Loans
Fund renovations and home upgrades
Fast Funding Loans
Get approved and funded the same day
Peer-to-Peer Loans
Alternative lending platforms and peer networks
Top-Rated Lenders
Our highest-rated personal loan providers with expert reviews and recommendations.
SoFi Personal Loans
Social Finance, Inc.
SoFi offers some of the lowest rates available with excellent customer service and flexible borrowing options, making it ideal for creditworthy borrowers seeking competitive terms.
LightStream
Truist Bank
LightStream, backed by Truist Bank, delivers exceptionally competitive rates with flexible terms and same-day funding, making it a top choice for rate-conscious borrowers.
Upstart
Cross River Bank
Upstart uses AI-powered underwriting to approve borrowers with fair and limited credit histories, making it accessible to those rejected by traditional lenders.
Payoff (Happy Money)
Payoff, Inc.
Payoff specializes in credit card debt consolidation through personal loans, offering rates designed specifically for those seeking relief from high-interest card debt.
Personal Loan FAQs
What credit score do I need to get a personal loan?
Most traditional lenders require a credit score of 640-680 or higher. If your score is lower, look for lenders specializing in bad credit loans, which may work with scores as low as 580. The better your credit score, the lower your APR will be. Some lenders offer soft credit checks that don't affect your score, so you can check your eligibility first.
How quickly can I get funded?
Funding times vary by lender. Some offer same-day funding if you apply before 2 PM on a business day (SoFi, LightStream), while others take 1-5 business days. Check the lender's specific timeline, but generally, you can expect funding within 24-48 hours of approval. Faster funding usually applies to digital-first lenders rather than traditional banks.
What can I use a personal loan for?
Personal loans are versatile and can typically be used for almost any purpose: debt consolidation, home improvement, medical expenses, weddings, education, moving costs, emergency repairs, and more. Some lenders restrict usage (for example, they may not allow home purchases), so always verify with your specific lender. The funds are deposited directly to your bank account, giving you flexibility.
Is there a difference between personal loans and payday loans?
Yes, significant differences exist. Personal loans typically have APRs of 6-36%, terms of 24-84 months, and loan amounts of $5,000-$100,000. Payday loans have extremely high APRs (often 400%+), very short terms (2 weeks), and small loan amounts ($300-$1,500). Personal loans are far safer and more affordable for most borrowing needs. Avoid payday loans if possible.
Can I pay off my loan early without penalties?
Most reputable personal loan lenders do not charge prepayment penalties, allowing you to pay off your loan early and save on interest. However, always verify this before applying. Some lenders may charge origination fees (typically 1-8%), but these are charged upfront, not for early repayment. Paying off early is almost always financially advantageous if you can afford it.
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