A personal loan allows you to borrow money from a lender for almost any purpose typically with a fixed term, a fixed interest rate, and a regular monthly payment schedule. What are Personal Loans? A personal loan is a flexible type of loan that you can use for just about anything at your discretion. They’re […]
Best Egg is an online lender that offers unsecured and secured personal loans to borrowers across the credit spectrum. It allows borrowers to use their cars or permanent fixtures in their homes as collateral on secured personal loans. Best Egg says one of the most popular reasons borrowers use their loans is for debt consolidation.
Avant is an online lending platform that connects fair- and bad-credit borrowers (689 or lower credit score) with personal loans through WebBank. Avant’s personal loan rates are consistent with other bad-credit loans, and the lender allows consumers to check their potential loan offers via pre-qualification. Though this company doesn’t provide certain flexible features you’ll find
LendingPoint personal loans have the makings of a solid financing option: Rates are reasonable, funding is fast and you can pre-qualify to check your rate before applying. But this is a no-frills product. Loan amounts are lower than many of its competitors, the lender doesn’t allow co-applicants or collateral on an application, and it reports
Upstart is an online lending platform that connects borrowers with banks and credit unions to fund personal loans. It differentiates itself from other online lenders with its underwriting model that uses artificial intelligence and nontraditional data — like college education and work experience — to qualify borrowers. Upstart gives borrowers access to money fast with
LendingClub personal loans are a fit for good- or fair-credit borrowers looking to consolidate debt or finance large purchases. This lender is an especially good choice for debt consolidation because it offers a rate discount and direct payment to creditors on debt consolidation loans. Though not the lowest-cost lender, LendingClub loans stand out for flexibility,
Discover offers unsecured personal loans for borrowers with excellent or good credit (scores above 689). Loans are available nationwide and can be used for almost any purpose. Discover personal loans have no origination fee and a wide range of repayment terms, but the lender doesn’t offer rate discounts. If approved for a loan, Discover can
Rocket Loans offers multiple rate discounts and fast funding for personal loans. The lender accepts borrowers with fair credit or better (credit scores above 629). Compared with other lenders, Rocket Loans lacks some convenient features, like the ability to choose your payment date or send funds directly to creditors with a debt consolidation loan. The
SoFi’s personal loans have the standard features of a five-star lender: a wide variety of loan amounts, flexible repayment terms, plus special features like free financial planning and estate planning discounts. SoFi loans can be used for common purposes like debt consolidation, as well as for adoption or in vitro fertilization procedures, travel or weddings.
LightStream offers unsecured personal loans with no fees for borrowers with good to excellent credit (scores above 690). Loans are available in a wide range of amounts and repayment terms, and borrowers can add a co-borrower to help qualify for a higher loan amount or lower interest rate. Among its many consumer-friendly features, LightStream allows
