When comparing personal loan options, keep these key factors in mind:
If you’re shopping for a personal loan, Credible is our #1 overall recommendation. It’s a free marketplace that lets you compare personalized offers from multiple lenders in minutes — with no impact to your credit score. This makes Credible the best starting point for most borrowers, giving you the widest view of available rates and terms.
For those who want another comparison hub, Bankrate is a close second, known for its trusted reputation and real-time APR updates that make rate shopping simple and transparent. And if you already have strong credit and prefer going directly with a lender, LightStream offers some of the most competitive rates and same-day funding for qualified borrowers.
Bottom line: Start with Credible to quickly see your best options, check Bankrate for added transparency, and consider LightStream if you have excellent credit and want direct access to low rates.
1Advertiser Disclosure: This site is made possible through advertising partnerships. Some of the offers and links featured may result in compensation to us. This compensation can influence the placement and order of products on the site. That said, all opinions are our own, and we do not accept payment for favorable reviews. We aim to provide accurate, up-to-date content, but details may change without notice. Please review the provider’s terms and conditions before making any decisions.
2Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 6.49% - 35.99% APR with terms from 12 to 120 months. Credible also works with network Partners like MoneyLion, AmONE, Alternative Providers, and non-lender providers who offer loan and other products with different rates and terms than described here. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 10.43%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32, assuming your lender deducts the origination fee from the offered loan amount. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 3, 2022, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.
To check the rates and terms you may prequalify for, Credible conducts a soft credit pull that will not affect your credit score. If you choose a lender and continue with your application, the lender will usually conduct a hard credit pull that may impact your credit score.
