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Personal loans can be taken out for just about any need – making a down payment on a car, home improvement, covering a temporary business expense, or debt consolidation. The advantage of personal loans over credit cards is that personal loans frequently offer fixed interest rates. You may also qualify for personal loans in amounts that exceed your credit card limits.

Let’s look at some of the best personal loan lenders out there.

Best Personal Loan Lenders

LenderRatesLoan Term (years) 

View details
Fixed: 9.95%+2-5Get Offers
Loan amounts
• $1,000 up to $35,000

Loan uses
• Debt consolidation, emergency expense, life event, home improvement and other uses

• Must be a resident in the US with a valid social security number
• Must have physical address - P.O. boxes are only accepted for military residences

View details
Fixed: 4.99%+2-5Get Offers
Loan amounts
• $10,000 up to $35,000

Loan uses
• Debt consolidation, home improvement, wedding, travel, medical expenses and other purposes

• Must be a resident in the US with a valid social security number
• Required documentation includes verified income and bank account, a valid ID and your signature

View details
Fixed: 5.99%+3, 5Get Offers
Loan amounts
• $1,000 up to $40,000

Loan uses
• Debt consolidation, paying off credit cards, home improvement, pool loans, vacations and other purposes

• Must be a US Citizen or Resident Alien with a valid social security number and physical address, currently residing in the US
• Must have valid government issued photo ID

View details
Fixed: 5.99%+3, 5Get Offers
Loan amounts
• $2,000 up to $35,000

Loan uses
• Debt consolidation, home improvement, vehicles, small business, new baby expenses and other uses

• Must be a US resident with a bank account and social security number
• No collateral required – loans through Prosper are unsecured - you qualify for a loan based on your credit history

View details
Fixed: 6.25%+3, 5Get Offers
Loan amounts
• $1,000 up to $50,000

Loan uses
• Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase or other purposes

• Must be a US Citizen or Permanent Resident with a verifiable social security number
• Must have a bank account at a U.S. financial institution with a routing transit number
• Must have a full time job, full time job offer starting in six months or another source of regular income

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Full list of personal loan lenders

We recommend the lenders in the table above because we thoroughly evaluated them. However, our team also researched other institutions for people that want to consider all options before they begin the process of applying for a personal loan. You can find information on all lenders below.


This is a peer-to-peer lending platform which means you borrow from other people, not a bank or financial institution. Prosper allows you to borrow up to $35,000 with interests rates ranging from 5.99 percent to 35.97 percent, and you can choose to pay over three or five years.

This platform has been around for a while, and it has a solid track record. The downsides are that it can take a week or two to get your funds, and your credit rating must be fairly good (around 640).


With SoFi you can borrow anywhere from $5,000 to $100,000 and interest rates are very favorable. The catch is that to qualify you must have a very good credit rating. You can choose between fixed and variable APRs which range from 4.04 percent to 9.99 percent, which are some of the lowest rates among personal loans.


If your credit score is a little weak, say around 600, you might try Peerform. This peer-to-peer lending platform offers decent interest rates even for those with lower credit ratings. You might have to wait longer than with other lenders, and the service isn’t available nationwide. You can borrow a maximum of $25,000. Take note that Peerform charges extra fees that other lenders do not collect.

Lending Club

This is another peer-to-peer lender that makes loans of up to $35,000. Lending Club is bigger than Prosper and a bit more flexible when it comes to credit scores as well. Depending on loan amount, credit rating, and terms you can get APRs of 5.99 percent to 32.99 percent.

Wells Fargo

This venerable name brings with it reliability and APRs ranging from 6.25 percent to 19.75 percent. You can borrow all the way up to $100,000, but you must have a healthy credit rating to qualify. If you don’t like borrowing online, Wells Fargo is probably your best bet, since they have physical locations where you can do business.


This is another lender that attracts people with less than ideal credit scores, and loan amounts can be anywhere from $1,000 to $35,000. The interest rates are higher — from 9.95 percent to 36 percent — but the tradeoff is you can get a loan with weak credit. With Avant, you can choose repayment terms from 24 to 60 months.


When making loans, this unique lender looks into other factors beyond credit scores such as education level and career path. With Earnest, you can borrow up to $50,000 with APRs of 4.25 percent to 9.25 percent. One limitation is that the maximum loan term is only 3 years.


There are many options for personal loans, and borrowers should shop for one that best matches their needs and comfort level.

Credible is a multi-lender marketplace where lenders including Avant, LendingClub, PAVE, Prosper and Upstart compete for your business. You can compare personalized offers from multiple lenders without sharing your personal information with lenders or affecting your credit score.

Vincent Chough is a writer who earned his medical degree from the University of Pittsburgh School of Medicine and practiced in the U.S. for 10 years. He now lives in Argentina, where he’s involved in NGO management at the executive level.

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