Whether you need funds for an unexpected expense, a major purchase, or debt consolidation, personal loans can offer quick and easy access to cash when you need it most.
Below, we’ve compared the best personal loan offers of 2025 based on key factors like APR, loan terms, and funding speed. Each lender has been carefully selected to suit a variety of financial needs.
Compare your options to find the right fit for your budget. As always, loan terms and rates vary based on creditworthiness and lender criteria.
- APR Range: 8.99% to 29.99% (with all discounts applied)
- Loan Amounts: $5,000 to $100,000
- Repayment Terms: 2 to 7 years
- Fees: Origination fees up to 7%
- Funding Time: Most loans funded same or next day
- Credit Score Requirement: Minimum 680
- APR Range: 5.94% to 35.47%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 to 5 years
- Fees: Origination fees apply
- Funding Time: Same-day funding available
- Credit Score Requirement: Minimum 560
- APR Range: 7.80% to 35.99%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 or 5 years
- Fees: Origination fees up to 10%
- Funding Time: Most loans funded within 24 hours
- Credit Score Requirement: No minimum; considers factors beyond credit score
- APR Range: Varies by lender
- Loan Amounts: $100 to $15,000
- Repayment Terms: Varies by lender
- Fees: Varies by lender
- Funding Time: As soon as the next business day
- Credit Score Requirement: Varies by lender
Personal loans have become a popular option for individuals seeking financial assistance for a variety of reasons, from debt consolidation to home improvement projects. With so many lenders offering personal loans, it can be difficult to determine which one is the best for you.
To help you navigate the world of personal loans, we have researched and compared some of the top lenders to provide you with the best options available. Whether you're looking for a low interest rate, flexible repayment terms, or a fast and easy application process, we have you covered.
So, if you're ready to take the next step in securing your financial future, read on to learn about the best personal loans on the market.
Our Top Picks for Best Personal Loans
If you're in a hurry then we would recommend Upstart — which offers fixed-rate loans with no origination or prepayment fees. You can get a loan from Upstart even if you have bad credit.
Checking your rate on Upstart will not affect your credit score. When you check your rate with Upstart, they make a soft credit inquiry. Plus, there is no prepayment penalty for paying off a loan on Upstart early.
You may pay off part or all of the loan at any time with no fee. By prepaying, you will pay less overall interest because the loan is outstanding for a shorter time.
Rate: 7.40-35.99%
Loan amount: $1,000-$50,000
Min credit score: none
- Accepts borrowers new to credit.
- Able to fund loans one business day after the borrower accepts a loan offer.
- Offers direct payment to creditors with credit card consolidation loans.
- Allows borrowers to choose and change payment date.
- May charge an origination fee.
- Borrowers can choose from two repayment term options only.
- No mobile app to manage a loan.
1. SoFi – best for excellent credit
SoFi stands out as a great choice for personal loans, not just for its loan options in terms of amount and repayment, but also for the exceptional financial support it provides to its clients.
Consider applying for a personal loan with SoFi, an online lending platform that offers unsecured fixed-rate loans ranging from $5,000 to $100,000 with repayment terms between two to seven years.
To be eligible, you must have a minimum credit score of 650 and an annual income of at least $45,000.
SoFi does not require origination fees, late fees, or prepayment penalties, and offers comparatively low APRs.
However, note that SoFi does not offer direct payment to other creditors for debt consolidating loans.
Take advantage of additional benefits such as unemployment protection and the ability to change your payment due date once a year.
- Low Rates: Competitive rates designed to fit your budget.
- Fast Funding: Receive your funds quickly after approval.
- No Fees: No origination, prepayment, or late fees.
- $300 Bonus: I’ve partnered with SoFi—fund your loan and get $300 on me!
Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
Related: SoFi Promotions and Sign Up Bonus Offers
2. Upstart – best for poor credit
Upstart is a popular online lender that specializes in providing personal loans to individuals who may not have the best credit history. It's a great option for those looking for small personal loans, as the minimum loan amount offered is $1,000.
Upstart uses a unique underwriting model that takes into account more than just your credit score, including your education and employment history, to determine your eligibility for a loan. This makes it a good option for individuals who are just starting out or who may have had some financial setbacks in the past.
One of the main benefits of taking out a loan with Upstart is its fast and easy application process. You can apply for a loan online in just a few minutes and receive a decision within minutes. Once approved, funds can be deposited into your account as soon as the next business day.
Upstart also offers competitive interest rates and flexible repayment terms, making it a great option for individuals who are looking to take control of their finances and manage their debt. Overall, if you're in need of a small personal loan and have a less-than-perfect credit history, Upstart is definitely worth considering.
- Fair Rates: Competitive rates tailored to your credit profile.
- Fast Funding: Get funds as soon as the next business day.
- Flexible Loans: Borrow $1,000 to $50,000 for your unique needs.
- No Prepayment Penalty: Pay off your loan early and save on interest.
3. Upgrade – best for fair credit
Upgrade is a leading online lender that offers personal loans to individuals with fair to bad credit. If you have a credit score between 580 and 700, Upgrade may be a good option for you.
The lender uses a more comprehensive underwriting process that takes into account a range of factors beyond just your credit score, including your income and expenses, to determine your eligibility for a loan. This makes it easier for individuals with less-than-perfect credit to secure a loan.
Upgrade offers loans ranging from $1,000 to $50,000, making it a good option for a variety of financial needs, including debt consolidation, home improvement projects, and medical expenses. The lender also offers competitive interest rates and flexible repayment terms, allowing you to choose the loan that best fits your budget and timeline.
Upgrade offers loans with three- and five-year terms. The origination fee is 1.85% to 9.99% of the loan amount, and a $10 late fee is assessed if a payment is not made within 15 days or if the payment is not processed. Autopay discounts are not available.
Additionally, Upgrade has a fast and easy online application process that can provide you with a loan decision in minutes.
- Low Fixed Rates: Predictable and affordable repayments.
- Fast Funding: Receive funds as soon as the next business day.
- Flexible Loan Amounts: Borrow $1,000 to $50,000.
- No Hidden Fees: Transparent terms with no surprises.
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-35.97%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
4. ZippyLoan – best for no credit
Just remember that if you actually need money now, then you can opt for a personal loan. When you need money in a hurry ZippyLoan is where to go.
You apply for a loan through the ZippyLoan site, if approved they send your loan application to one of many loan providers.
You review the loan details and e-sign if you like what you see. No risk in checking what offers you’ll get. You can borrow between $100 and $15,000 as soon as tomorrow. Loans service up to 60 months.
ZippyLoan connects borrowers to lenders through its network of lenders. They’ll find you the lowest interest rate and is one of the best no credit check loans. You can visit ZippyLoan here.
- Quick Approvals: Get matched with lenders in minutes.
- Flexible Loan Amounts: Borrow $100 to $15,000 to meet your needs.
- Fast Funding: Receive funds as soon as the next business day.
- All Credit Types Welcome: Options available even with less-than-perfect credit.
Recap of the Best Personal Loans
- APR Range: 8.99% to 29.99% (with all discounts applied)
- Loan Amounts: $5,000 to $100,000
- Repayment Terms: 2 to 7 years
- Fees: Origination fees up to 7%
- Funding Time: Most loans funded same or next day
- Credit Score Requirement: Minimum 680
- APR Range: 5.94% to 35.47%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 to 5 years
- Fees: Origination fees apply
- Funding Time: Same-day funding available
- Credit Score Requirement: Minimum 560
- APR Range: 7.80% to 35.99%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 or 5 years
- Fees: Origination fees up to 10%
- Funding Time: Most loans funded within 24 hours
- Credit Score Requirement: No minimum; considers factors beyond credit score
- APR Range: Varies by lender
- Loan Amounts: $100 to $15,000
- Repayment Terms: Varies by lender
- Fees: Varies by lender
- Funding Time: As soon as the next business day
- Credit Score Requirement: Varies by lender
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5 Tips to Keep in Mind Before You Apply for a Personal Loan
Go through your credit report
No matter if you have defaulted on a payment or have applied for too many loans, you need to go through your credit report. By analyzing your report, you will be able to know the areas you need to work on and look for ways to improve the score.
While applying for a personal loan can help to a great extent, there are many other factors that could increase your score. Understand the available options and work towards building a good credit history.
Make your loan payments on time
Did you know that late payments will stay on your credit reports for years? Banks and other lenders go through an individual's credit report when they offer financing.
If they come across late payment, they will doubt your creditworthiness.
Even before applying for the loan, learn how to manage your finances properly so that you don’t have to struggle with the additional burden.
Don’t apply for multiple loans
A bank will know how many loans you have applied for and how many times you have applied for a loan. This is because whenever you approach lenders for loans, it will be recorded in your credit history.
This may give the impression that you have poor repayment capacity and your application could be declined. Even if you manage to get more than two or three loans, you need to see if you will be able to manage your monthly expenses properly before opting for a loan again.
Borrow what you actually need
One of the mistakes people make is applying for a higher loan amount than they actually need. You end up paying a high interest rate for the entire amount, including the amount you didn’t require in the first place. Apply for an amount you actually need to meet your short-term financial goals.
Compare personal loans
All prominent banks across the world offer personal loans. However, you will come across some banks with better interest rates than others. Before applying for a loan, do your research and compare the loans offered by different banks.
Then, shortlist the ones which come with the least interest rates. Also consider the tenure of the loan, the other fees and charges you need to pay, and the total amount of financing.
FAQs
A good APR on a personal loan can vary depending on various factors, such as your credit score, income, debt-to-income ratio, and the lender's underwriting criteria.
Generally, a good APR for a personal loan can be considered to be below the national average of about 10.56% as of February 2023.
If you have excellent credit and a strong financial profile, you may be eligible for a personal loan with an APR in the range of 5% to 8%.
On the other hand, if you have a lower credit score, you may be offered a personal loan with an APR in the range of 12% to 25%. It's important to compare offers from multiple lenders to find the best APR and terms that fit your financial situation.
Getting a low rate on a personal loan requires some effort on your part. To increase your chances of getting a low rate, you can take the following steps:
First, improving your credit score is crucial. A higher credit score indicates to lenders that you are a responsible borrower and can result in a lower interest rate. To improve your credit score, make sure to pay bills on time, keep your credit card balances low, and avoid new credit inquiries.
Second, it's important to shop around and compare offers from multiple lenders. Different lenders have different underwriting criteria and interest rates, so it's important to find the best option for your financial situation.
Finally, consider getting a co-signer for your loan. Having a co-signer with a strong financial profile and good credit history can increase your chances of getting approved for a loan and at a lower rate. However, keep in mind that the co-signer will also be responsible for the loan if you are unable to make payments.
It's important to consider your individual financial situation and carefully compare offers from multiple lenders before choosing a personal loan. Taking these steps can help you increase your chances of getting a low rate on your personal loan.
Best Personal Loans Conclusion
In conclusion, choosing the best personal loan depends on a variety of factors, including interest rates, loan amounts, and repayment terms.
The lenders reviewed in this article, including SoFi, Upgrade, and Upstart offer competitive rates and flexible terms.
However, it's important to carefully consider your financial situation and needs before choosing a lender and signing a loan agreement.
By doing your research and comparing options, you can find a personal loan that fits your budget and helps you achieve your financial goals.
- APR Range: 8.99% to 29.99% (with all discounts applied)
- Loan Amounts: $5,000 to $100,000
- Repayment Terms: 2 to 7 years
- Fees: Origination fees up to 7%
- Funding Time: Most loans funded same or next day
- Credit Score Requirement: Minimum 680
- APR Range: 5.94% to 35.47%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 to 5 years
- Fees: Origination fees apply
- Funding Time: Same-day funding available
- Credit Score Requirement: Minimum 560
- APR Range: 7.80% to 35.99%
- Loan Amounts: $1,000 to $50,000
- Repayment Terms: 3 or 5 years
- Fees: Origination fees up to 10%
- Funding Time: Most loans funded within 24 hours
- Credit Score Requirement: No minimum; considers factors beyond credit score
- APR Range: Varies by lender
- Loan Amounts: $100 to $15,000
- Repayment Terms: Varies by lender
- Fees: Varies by lender
- Funding Time: As soon as the next business day
- Credit Score Requirement: Varies by lender
