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Best Personal Loans for June 2024

We compared personal loans based on APRs, funding time, and more to identify the best options for borrowers.

Author
By Emily Batdorf

Written by

Emily Batdorf

Writer

Emily Batdorf is a personal finance expert, specializing in banking, lending, credit cards, and budgeting. Drawing on her scientific background, she's developed a knack for analyzing financial products in the context of different needs. She finds joy in helping readers understand their best options and shuns a one-size-fits-all approach.

Edited by Meredith Mangan

Written by

Meredith Mangan

Senior Editor

Meredith Mangan is a Senior Editor for Personal Finance, specializing in personal loans. Since 2011, she’s helped steer content creation in the areas of mortgages and loans, insurance, credit cards, and investing for major finance verticals, including Investopedia, Money Crashers, Credible, and The Balance Money.

Updated June 14, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

Featured

The average rate on a two-year personal loan is 12.49%, according to Federal Reserve data. That's nearly 10 percentage points lower than the average credit card rate of 21.59%, which can make personal loans a superior financing option. Personal loans can be used for almost anything you'd use a card for, including medical bills, emergencies, car repairs, home improvements, vacations, and more. You can also use a personal loan to refinance credit card debt to lower your monthly payment. 

The lowest personal loan rates are reserved for the most qualified borrowers and are typically available on shorter-term loans. If you prequalify before applying, you can get a sense of rates that may be available to you without hurting your credit. Just note that you'll need to formally apply to see final rates and terms, which could impact your credit.

Best personal loans

  1. SoFi: Best overall
  2. Upgrade: Best for fair credit
  3. Discover: Best for no origination fees and low rates
  4. Splash Financial: Best quick loans for good credit
  5. Universal Credit: Best debt consolidation loans for bad credit
  6. LightStream: Best for home improvement loans and low rates
  7. Best Egg: Best close rates if prequalified
  8. BHG Financial: Best for large personal loans
  9. OneMain Financial: Best bad credit personal loans
  10. Upstart: Best fast personal loans (for all credit types)
  11. LendingClub: Best online experience

Compare personal loan rates for June 2024

Advertiser Disclosure
4.24.2

Credible rating

Fixed (APR)

6.99% - 25.49%

Loan Amounts

$5000 to $100000

Min. Credit Score

700

Check Rates

on Credible’s website

View Details

3.93.9

Credible rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

620

Check Rates

on Credible’s website

View Details

4.44.4

Credible rating

Fixed (APR)

-

Loan Amounts

$2500 to $40000

Min. Credit Score

660

Check Rates

on Credible’s website

View Details

4.54.5

Credible rating

Fixed (APR)

8.49% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

600

Check Rates

on Credible’s website

View Details

4.94.9

Credible rating

Fixed (APR)

8.99% - 29.99%1

Loan Amounts

$5000 to $100000

Min. Credit Score

Does not disclose

Check Rates

on Credible’s website

View Details

44

Credible rating

Fixed (APR)

8.99% - 35.99%

Loan Amounts

$2000 to $50000

Min. Credit Score

600

Check Rates

on Credible’s website

View Details

4.34.3

Credible rating

Fixed (APR)

-

Loan Amounts

$5000 to $35000

Min. Credit Score

700

Check Rates

on Credible’s website

View Details

4.34.3

Credible rating

Fixed (APR)

11.69% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

560

Check Rates

on Credible’s website

View Details