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With personal loan rates rising in response to the Federal Reserve raising rates several times last year , shopping around for the lowest rate could help you save hundreds or thousands in interest over the lifetime of your loan. Note that all of the starting annual percentage rates , or APRs, that are listed are based on a high credit score of or above.

LightStream, an online lender under Truist Financial, offers flexible loan amounts and terms, same-day funding options, low APRs compared to other lenders on this list and no origination, prepayment or late fees. You can also save 0. The trade-off? So, in order to find out what rate you qualify for, the lender will conduct a hard pull on your TransUnion or Equifax credit history, which could cause a temporary dip in your credit score.

Its APRs are also competitive, and it offers additional discounts of 0. However, Wells Fargo may charge fees for rejected payments, as well as significant late fees. It also indicates that those with scores in the mid- to high s may be approved at higher rates. Social Financing, or SoFi, offers lower APRs and relatively flexible terms than many other lenders, but its real appeal lies in its no-fee loan process, which can help you save while still securing a low-interest personal loan.

It requires a minimum credit score of and routinely runs promotions on its site, such as its current referral program , where you can earn money by referring friends and family members to SoFi. This online lender is also notable for its special benefits, which include unemployment protection to put your loans into forbearance and lower your monthly payment if you lose your job, as well as free financial advising.

SoFi does not offer loans in Hawaii or New York. To determine your APR, Happy Money will also consider your debt-to-income ratio how much monthly debt you pay versus your monthly income , age of credit history, number of credit accounts and your credit utilization how much credit you have access to versus how much you have used.

Happy Money does not offer loans in Massachusetts or Nevada. Pentagon Federal Credit Union, otherwise known as PenFed, is a credit union that offers low rates and flexible loan amounts and terms. PenFed offers both co-signer and joint applicant options.

A co-signer is an individual who acts as a guarantor for your loan, making payments if you are unable to. You might be interested in a co-signer if you have low or no credit and want to get approved at a lower rate.

A joint applicant, or co-borrower, meanwhile, is an individual with excellent credit history who assumes equal ownership of and responsibility for the loan payment.

If you apply for a joint application, both credit scores will be considered when determining the loan amount and rate. Here are some factors to keep in mind when shopping for low-interest loans from different lenders. Not all lenders offer the same interest rates and fees.

Compare the annual percentage rate, or APR, across all lenders to see which one offers the lowest APR. The lower your APR, the less you can expect to pay in interest over the lifetime of your loan. Some fees -- like origination fees -- are included in the APR.

This offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition. The rate and terms you may be approved for will be shown to you during the application process.

Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements. Please refer to the certificate of insurance, provided to you with your loan origination documents, for terms and conditions of the coverage.

Some exclusions apply. Claims must be submitted for review and approval to CUMIS Specialty Insurance Company, Inc. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market.

Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms.

The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters Mineral Point Road, Madison, WI Minimum loan amounts may vary by state.

If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. An administration fee of up to 9.

Avant branded credit products are issued by Webbank. Personal loans made through Universal Credit feature Annual Percentage Rates APRs of All personal loans have a 5. Loans feature repayment terms of 36 to 60 months. Accept your loan offer and your funds will be sent to your bank or designated account within one 1 business day of clearing necessary verifications.

Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one 1 business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Personal loans issued by Universal Credit's bank partners. Minimum credit history: None; this lender prefers some minimal credit history. Minimum income: None, but borrowers must have sufficient disposable income to make the monthly loan payment. Loan approval and actual loan terms depend on your ability to meet our credit standards including a responsible credit history, sufficient income after monthly expenses, and availability of collateral and your state of residence.

If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. APRs are generally higher on loans not secured by a vehicle.

OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount.

Visit omf. Loans to purchase a motor vehicle or powersports equipment from select Maine, Mississippi, and North Carolina dealerships are not subject to these maximum loan sizes. Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card.

Disbursement by check or ACH may take up to business days after loan closing. This lender accepts income from employment, retirement and Social Security payments. All loans are subject to eligibility criteria and review of creditworthiness and history.

Terms and conditions apply. All loans advertised are unsecured personal loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC, as creditor, on the Reach Financial platform. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, and the loan term you select.

Fixed Annual Percentage Rates APR range from NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

A personal loan is money you borrow in a lump sum and repay in fixed monthly payments. You can get a personal loan from a bank, credit union or online lender. To qualify you, lenders look at factors including your credit score, credit report and debt-to-income ratio. Lenders primarily use your financial and credit information to determine your rate, but may consider additional information like whether you own your home, your education level and your employer.

Borrowers with good to excellent credit scores and higher typically get the lowest interest rates and can borrow larger amounts. They also have the most options when it comes to shopping for a loan. Those with fair to bad credit scores below may have to look a little harder and pay a higher rate for a personal loan.

Having steady income, low debt, a long credit history and a record of on-time payments will improve your chances of being approved. Borrower credit rating. Score range. Estimated APR. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below — are unlikely to qualify.

One benefit of getting a personal loan is you can use the money for nearly any purpose. Ideally, getting one positively impacts your overall financial health, by helping you pay off debt faster, for example, or adding to the value of your home.

Here are some top reasons consumers get personal loans:. Debt consolidation : Roll your debts into one monthly payment, potentially reducing the interest you pay toward the debt and helping you pay it off faster.

Home improvement : Need to add on a home office or install a swimming pool? Use a personal loan to cover the costs.

Large expenses: You can use a personal loan to buy a boat , RV or other items with large price tags. Weddings : Using a personal loan to pay for your wedding can help you stick to a budget. Emergencies : Because personal loans are funded quickly, they can help cover an urgent home or car repair.

Compare any loan with interest-free options. If you decide a personal loan is right for you, compare rates from multiple lenders. The loan with the lowest APR is the least expensive — and usually the best choice.

Here are the most important features to compare on personal loans. When comparing offers, APR tells you which is the least expensive overall. It also provides an apples-to-apples comparison across financial products, so you can compare the cost of a personal loan to a credit card, for example.

Monthly payment: Even if a loan has a low APR, you need room in your budget to repay it each month. Your monthly payment is determined by the loan amount, interest rate and repayment term. Use a personal loan calculator to see how the rate and repayment term affect the monthly payment.

Fees: The most common fees on a personal loan are late and origination fees. If your lender charges this fee, make sure the final loan amount will be enough to cover your expenses.

Funding time: Many lenders can fund a loan the day after approval, but some take up to a week to send you the money. If you need cash fast, compare fast personal loans to find a lender that offers same- or next-day funding.

Payment flexibility: Some lenders let you choose your initial payment date and allow multiple changes during repayment, while others require you to pay on the same date each month for the life of the loan. Other consumer-friendly features: If you have a couple of competitive offers, consider other common personal loan features to break the tie.

Some lenders offer rate discounts, no fees, extra long repayment terms on home improvement loans or direct fund transfers to other creditors on debt consolidation loans.

Check your credit score. Learn about your personal loan options based on your credit score. This will give you an idea of what rate and payment to expect as you shop for loans. You might decide to postpone getting a loan and instead take steps to build your credit in order to get a lower rate or a larger loan.

Compare your options. Here's how to compare personal loans and credit cards. Find a co-applicant. If you have bad credit, having a co-signer with good credit allows you to piggyback on his or her creditworthiness and potentially get a better rate.

With a joint or co-signed personal loan , your co-applicant has to make payments if you fail to. Consider a secured personal loan. Using a car, savings account or other asset as collateral may get you a lower rate. The risk is losing your asset if you default on the loan.

Assess your overall financial well-being. Personal loans work best as part of a balanced financial plan. If your current debt is overwhelming, investigate your debt-relief options. Review your credit report. Check your credit report to see what a lender will see and take steps to fix any errors or past-due accounts.

You can get your free credit report with NerdWallet or at AnnualCreditReport. Calculate your payments. Review your budget to see how much room you have for monthly loan payments.

Then, use a personal loan calculator to see what loan amount, rate and repayment term will get you affordable monthly payments. Pre-qualify and compare offers. Most online lenders allow you to pre-qualify without affecting your credit score.

Check your rate with multiple lenders to find the best offer. Once you have multiple loan offers in hand, compare the loan features and fine print, including total costs and any penalties. Gather documents. Most personal loan applications require proof of income, which can be a W-2, pay stubs or bank statements.

Gather these documents before you apply to speed up the process. The final step is to submit your personal loan application. Applying involves a hard credit check that can temporarily lower your credit score.

Depending on the lender, you should receive your funds within a few days. Even before you receive your loan, make a plan to pay it off , ensuring you can manage on-time monthly payments for the life of the loan — whether that's two or seven years.

Missing even one loan payment can hurt your credit score, and defaulting on the loan can mean late fees and collections calls. If you face a financial setback while paying off your loan, reach out to your lender and ask about a hardship option.

Some lenders may allow you to defer loan payments for a specified time. Best for. credit score. Repayment terms. Time to fund after approval. Happy Money. Rocket Loans. Best Egg. Universal Credit. Debt consolidation loans. Installment loans. Bad credit loans.

Small personal loans. NerdWallet writers and editors conduct an annual comprehensive fact check and update of our lender reviews, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education.

We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. You can get a personal loan from many banks, credit unions and online lenders.

Each lender offers different benefits. For example, banks may offer perks for existing customers, while online lenders tend to fund loans more quickly. Credit unions may offer lower rates to borrowers with low credit scores. Weigh the benefits of online vs. bank loans. Personal loans can be used for almost any purpose.

Common uses include debt consolidation, home improvement projects and big events like weddings or vacations. Personal loans can also cover emergency or medical expenses. Read more about recommended ways to use personal loans. About the author: Annie Millerbernd is a personal loans writer.

Her work has appeared in The Associated Press and USA Today. Annual Percentage Rates APR , loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information.

All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors.

Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history.

All loans are subject to credit review and approval. Personal Loans. Personal Loans: Compare Top Lenders, Rates for February Every time. Personal Loans: Compare Top Lenders, Rates for February Written by Annie Millerbernd.

Edited by Kim Lowe. Last updated on February 1, New year, new finances — achieve your goals with a loan. A personal loan can help you turn your resolutions into reality. Just answer a few questions to get personalized rate estimates from multiple lenders. Loan amount GET STARTED. Edit my search.

Loan amount. Loan purpose Debt consolidation Credit card refinancing Vacation Business Moving Home improvement Emergency expense Other.

Credit score Excellent Good Fair Bad ZIP code. Wells Fargo does not charge origination, prepayment, or closing fees. Borrowers typically receive their funds in one to three business days.

TD Bank is one of the 10 largest banks in the United States and serves over 9. TD offers several personal, small business, and commercial banking products and investing and wealth management services. The TD Fit loan is a good option for borrowers looking for quick financing without any extra fees or penalties.

Loan terms range from 36 months to 60 months, giving borrowers the flexibility to pay down their balance over time. Bank is a part of U. Bancorp, which is headquartered in Minneapolis and has physical branches in 26 states. The bank offers checking and savings accounts, CDs, loans, and more.

Bank offers quick funding for loan applicants and does not charge origination or prepayment fees. Existing bank customers need a FICO score of at least to qualify for a loan. Bank customer. Founded in and headquartered in New York City, American Express is one of the largest global payment companies.

It offers various products, including credit cards, deposit accounts, and loans. American Express may be known for their credit cards, but with low rates and no origination fees, American Express ranked as one of the best personal loan lenders today.

Funds are usually deposited to your account within three to five days after approval. Keep in mind that personal loans from American Express are only available to eligible cardholders.

Citibank was founded in as the City Bank of New York and is headquartered in New York City. Citi currently offers credit cards, checking and savings accounts, lending services, wealth management services, and more. Citi made our list for offering rate discounts on their personal loans.

Citi offers a 0. Another 0. Once approved, borrowers can expect to receive the money that same day if they have a Citi account and up to two business days later for non-Citi accounts, upon approval and when using direct deposit. This can take up to five business days for customers who have requested a check.

Founded in , Discover Bank is a financial services company that offers a wide range of banking products and services. Discover rounds out our list with flexible, low-cost personal loan options.

Its starting rate of 7. However, one unique feature that Discover offers its loan customers is free access to their FICO credit scores, based on TransUnion data.

This can help borrowers keep track of their credit health and see how managing their loans responsibly positively impacts their credit. A personal loan can be a convenient option for funding a purchase in a pinch, but it is also a big responsibility. Applying for a personal loan means that upon approval, you agree to repay your loan, plus interest, within the specified term.

Personal loans may be secured or unsecured.

Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years

Best terms and fees Then, we ranked each based on interest rates, loan amounts, terms Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to What Are the Best Low-Interest Personal Loans? · SoFi · LightStream · PenFed Credit Union · Axos Bank · Achieve · PNC Bank · U.S. Bank: Best loan rates and terms

Related Pool lending options Best Personal Herms Best Fast Personal Loans Best Low-Interest Personal Loans How Ad Does It Take Termw Get Best loan rates and terms Personal Loan? But that doesn't mean they're free money. The availability of personal loans depended to some extent on the economic climate. Fixed-rate APR: Variable rates can go up and down over the lifetime of your loan. A secured loan requires you to provide collateral as a security deposit for approval.	Denny Ceizyk. Upgrade offers a quick application process and provides loan decisions within a few minutes. Our mission is to help you make informed financial decisions, and we hold ourselves to strict editorial guidelines. Bank is a part of U. AutoPay discount is only available prior to loan funding. Why choose Bankrate. SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.	Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years	Your APR will be between % and % based on creditworthiness at time of application for loan terms of months. For example, if you get approved for A closer look at our top low interest loan lenders · LightStream: Best for generous repayment terms · Upstart: Best for little or no credit best terms and fees Then, we ranked each based on interest rates, loan amounts, terms	LightStream: BEST LOANS FOR GENEROUS REPAYMENT TERMS. LightStream · ; Upstart: BEST LOAN FOR LITTLE CREDIT HISTORY. Upstart · ; Achieve The best personal loan rates are currently from % to about %. The interest rate you get on a personal loan depends on your credit score and credit Lowest Personal Loan Rates From Top Lenders ; Reach Financial: Best for consolidating debt · % - % · $3, - $40, · 24 to 60 months
Table terjs Contents In this article Jump eBst. Wells Fargo personal loan raes are competitive, with a minimum APR of 7. Personalized credit insights requires a minimum credit score Best loan rates and terms and routinely runs promotions on its site, such as its current referral programwhere you can earn money by referring friends and family members to SoFi. What to know about paying taxes on sports bets Elizabeth Gravier. Visit Lender on Rocket Loans' website on Rocket Loans' website Check Rate on NerdWallet on NerdWallet View details.	Our rating system takes into account four broad categories. Therefore, this compensation may impact where and in what order affiliate links appear within advertising units. BHG Money focuses on providing personal loans to professionals and businesses nationwide. Be sure to consider the monthly payment and fees when comparing offers — the lowest rate might not be the best fit for your monthly budget. on Discover's website. The interest rate you're offered is based on your credit health and score. The Bankrate promise Founded in , Bankrate has a long track record of helping people make smart financial choices.	Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years	Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years LightStream. Best for excellent credit. See at LightStream ·: % to %* (with AutoPay). Rates as of Jan. 25, ; Wells Fargo. Best for flexible terms BEST OVERALL PERSONAL LOAN. SoFi®. SoFi® ; BEST FOR LOW INTEREST RATES. LightStream. LightStream ; BEST FOR FAST FUNDING & BELOW-AVERAGE CREDIT. LendingPoint	Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years
You're more likely to get a lower rate rwtes a better credit score. Advertised rates and terms low minimum payment cards subject to change without notice. A fixed installment loan ratew a personal Best loan rates and terms will typically provide better lona rates than a variable credit card loan — according to the Federal Reserve, the average personal loan rate was visa holders must have more than two years remaining on visa to be eligible No co-signers allowed co-applicants only. Upstart Read Review. Variable rates can go up and down over the lifetime of your loan, which means you could potentially save if the APR goes down but it's important to remember that the APR can also go up.	With personal loan rates rising in response to the Federal Reserve raising rates several times last year , shopping around for the lowest rate could help you save hundreds or thousands in interest over the lifetime of your loan. on SoFi Personal Loan Visit this lender's site to take next steps. Plus, Upstart has fast service — you'll get your money the next business day if you accept the loan before 5 p. It's best to avoid origination fees if possible. Term Options Months for customers, for non-customers.	Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years	Your APR will be between % and % based on creditworthiness at time of application for loan terms of months. For example, if you get approved for A closer look at our top low interest loan lenders · LightStream: Best for generous repayment terms · Upstart: Best for little or no credit Happy Money. 36 months. Term of Loan. %. Fixed APR. $ · Best Egg. 36 months. Term of Loan. %. Fixed APR. $ · LightStream. 60 months. Term of	PenFed Personal Loans · Annual Percentage Rate (APR). % to % APR · Loan purpose. Debt consolidation, home improvement, medical expenses, auto financing What's a good rate on a personal loan? Personal loan interest rates range from around % or % to %, so a good rate would be one on the lower end of A closer look at our top low interest loan lenders · LightStream: Best for generous repayment terms · Upstart: Best for little or no credit

Best loan rates and terms - Lowest Personal Loan Rates From Top Lenders ; Reach Financial: Best for consolidating debt · % - % · $3, - $40, · 24 to 60 months Best Personal Loan Rates Of ; Upstart: % to % ; Wells Fargo: % to % ; LightStream: % to % ; Discover: % to Personal loan APRs average %, according to the Fed's most recent data. Meanwhile, the average credit card interest rate is around %. When compiling Compare personal loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7 years

Credit unions and banks weren't the only ones offering personal loans. Payday lenders, installment lenders and loan sharks provided personal loans to those with imperfect or nonexistent credit - or people who needed loans ASAP.

More recently, online personal loans have revolutionized the industry. Some of the lowest personal loan rates are to be found online, which is why any personal loan rate comparison should include a web search.

A personal loan rate comparison tool can help you see all the options in one place. And don't forget about peer-to-peer lending. Peer-to-peer lending sites act as matchmakers between would-be investors and would-be borrowers. Like traditional loan offerings, peer-to-peer sites offer low interest rates to applicants with high credit scores.

In fact, they may offer rates that are lower than what traditional lenders offer. But unlike traditional lenders, peer-to-peer sites are often willing to take a chance on applicants with bad or thin credit. Of course, these applicants will pay higher interest rates, but they won't be shut out of borrowing altogether.

How do peer-to-peer lenders make it work? Investors build portfolios that mix low-risk, low-interest rate loans with higher-risk, higher-interest rate loans.

It's always smart to compare personal loan rates when you're considering borrowing money. If you've ever had to deal with credit card debt or a home mortgage you'll understand what a difference a percentage point or two can make.

Still, there's more that goes into a loan's affordability than the APR. Conducting a personal loan rate comparison is an important first step, but you still have some research to do before you sign on the dotted line.

Consider different sources of personal loans, from brick-and-mortar lenders to sites online. If you have great credit you should be able to get a low personal loan interest rate. Still, you shouldn't expect rock-bottom rates. Remember that unsecured personal loan rates are generally higher than secured loan rates.

Because secured loans offer the lender some collateral to repossess in case the borrower defaults. On the flip side, secured loans like the Home Equity Line of Credit, or HELOC are more risky for the borrower because the borrower could lose the asset that's securing the loan.

In the case of home equity loans, that's the family house. No wonder some people decide they would rather go with an unsecured personal loan than risk the home they saved up for. For example, does the loan come with prepayment penalties that will discourage you from paying off the debt early?

Are there expensive credit insurance add-ons that the lender is pressuring you into financing as part of your loan? Are there late payment penalties and penalty APRs? Could the APR jump after a certain period, leaving you with unaffordable monthly payments?

All of these features could be red flags for anyone looking to find the best deal on their personal loan. If you want the best personal loan rate you'll need good credit. The lower your credit score, the more likely it is that lenders will offer you high-interest loans with terms that could keep you stuck in debt.

Here are a few rules to help you manage your personal loan. First, only borrow what you absolutely need. Second, put yourself on a budget so that you can keep up with your monthly payments. Third, pay as much as you can - don't just stick to the minimum payment. Lenders offer minimum payments as a guideline but they're often calibrated to be so low that they leave borrowers paying more interest for a longer period of time.

A personal loan should be a short-term solution to a pressing problem, not a long-term source of financial stress. With the proper research ahead of time to compare your personal loan rates and terms, you can ensure you pick the best option for you and your financial situation.

Zoom between states and the national map to see where people have the lowest credit card, auto and mortgage debt. Methodology Our study aims to find the places where people have the least amount of debt.

To find these counties we looked at three kinds of debt: credit card, auto and mortgage. We calculated debt-to-income ratios for people in each county by comparing each type of debt credit card, auto and mortgage to the median income. This gave us three per capita debt-to-income ratios. We then indexed the three ratios for each county.

Sources: US Census Bureau American Community Survey, Federal Reserve Bank of New York. Mortgage Calculators Mortgage Calculator Closing Costs Calculator Cost of Living Calculator How Much House Can I Afford?

Calculators Retirement Calculator k Calculator Social Security Calculator Helpful Guides Retirement Guide Financial Advisor Guide Estate Planning Guide Learn More RMD Table How to Calculate Your RMD k Withdrawal The Rule of 55 k Contribution Advice.

Find a Financial Advisor Top Financial Advisors Financial Advisors in Houston, TX Financial Advisors in Charlotte, NC Financial Advisors in Atlanta, GA Financial Advisors in New York, NY Firm Reviews Top Financial Advisory Firms Fisher Investments Review Merrill Lynch Review Helpful Guides Working with a Financial Advisor Guide Financial Advisor Resources Guide to Financial Advisor Business Plans Client Acquisition Strategies Client Retention Strategies Cold Calling Scripts for Financial Advisors Marketing Tips About SmartAdvisor More Resources for Advisors Learn More How to Choose a Financial Advisor Are Financial Advisors Worth it?

What Is Conservatorship? Truist Bank is an Equal Housing Lender. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners.

Lending services provided by Truist Bank. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.

Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors.

Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within business days. Annual Percentage Rates APRs range from 8. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.

The origination fee on a loan term 4-years or longer will be at least 4. Your loan term will impact your APR, which may be higher than our lowest advertised rate. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL— Operations Manager, Email: [email protected] , Address: P.

Box , Philadelphia, PA , Phone: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P. Box , Cerrillos Road, Santa Fe, New Mexico Minimum income: None; lender requires proof of income.

Between April 1, and June 30, , Personal Loans issued by LendingClub Bank were funded within 30 hours after loan approval, on average. Loan approval, and the time it takes to issue a credit decision, are not guaranteed and individual results vary based on creditworthiness and other factors, including but not limited to investor demand.

Some amounts, rates, and term lengths may be unavailable in certain states. For Personal Loans, APR ranges from 9. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit.

Advertised rates and fees are valid as of July 11, and are subject to change without notice. Loans are made by LendingClub Bank, N. LendingClub Bank is not an affiliate of NerdWallet, Inc.

Credit eligibility is not guaranteed. Loans are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Certain information that LendingClub Bank subsequently obtains as part of the application process including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt will be considered and could affect your ability to obtain a loan.

Loan closing is contingent on accepting all required agreements and disclosures. This offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition.

The rate and terms you may be approved for will be shown to you during the application process. Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements.

Please refer to the certificate of insurance, provided to you with your loan origination documents, for terms and conditions of the coverage. Some exclusions apply. Claims must be submitted for review and approval to CUMIS Specialty Insurance Company, Inc.

CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market. Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms.

The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters Mineral Point Road, Madison, WI Minimum loan amounts may vary by state.

If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors.

An administration fee of up to 9. Avant branded credit products are issued by Webbank. Personal loans made through Universal Credit feature Annual Percentage Rates APRs of All personal loans have a 5.

Loans feature repayment terms of 36 to 60 months. Accept your loan offer and your funds will be sent to your bank or designated account within one 1 business day of clearing necessary verifications.

Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one 1 business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Personal loans issued by Universal Credit's bank partners. Minimum credit history: None; this lender prefers some minimal credit history. Minimum income: None, but borrowers must have sufficient disposable income to make the monthly loan payment. Loan approval and actual loan terms depend on your ability to meet our credit standards including a responsible credit history, sufficient income after monthly expenses, and availability of collateral and your state of residence.

If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance.

APRs are generally higher on loans not secured by a vehicle. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount.

Visit omf. Loans to purchase a motor vehicle or powersports equipment from select Maine, Mississippi, and North Carolina dealerships are not subject to these maximum loan sizes.

Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to business days after loan closing.

This lender accepts income from employment, retirement and Social Security payments. All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply. All loans advertised are unsecured personal loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC, as creditor, on the Reach Financial platform.

If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, and the loan term you select. Fixed Annual Percentage Rates APR range from NerdWallet's ratings are determined by our editorial team.

The scoring formulas take into account multiple data points for each financial product and service. A personal loan is money you borrow in a lump sum and repay in fixed monthly payments. You can get a personal loan from a bank, credit union or online lender.

To qualify you, lenders look at factors including your credit score, credit report and debt-to-income ratio. Lenders primarily use your financial and credit information to determine your rate, but may consider additional information like whether you own your home, your education level and your employer.

Borrowers with good to excellent credit scores and higher typically get the lowest interest rates and can borrow larger amounts. They also have the most options when it comes to shopping for a loan. Those with fair to bad credit scores below may have to look a little harder and pay a higher rate for a personal loan.

Having steady income, low debt, a long credit history and a record of on-time payments will improve your chances of being approved. Borrower credit rating. Score range. Estimated APR.

Rates are estimates only and not specific to any lender. The lowest credit scores — usually below — are unlikely to qualify. One benefit of getting a personal loan is you can use the money for nearly any purpose.

Ideally, getting one positively impacts your overall financial health, by helping you pay off debt faster, for example, or adding to the value of your home.

Here are some top reasons consumers get personal loans:. Debt consolidation : Roll your debts into one monthly payment, potentially reducing the interest you pay toward the debt and helping you pay it off faster.

Home improvement : Need to add on a home office or install a swimming pool? Use a personal loan to cover the costs. Large expenses: You can use a personal loan to buy a boat , RV or other items with large price tags.

Weddings : Using a personal loan to pay for your wedding can help you stick to a budget. Emergencies : Because personal loans are funded quickly, they can help cover an urgent home or car repair. Compare any loan with interest-free options. If you decide a personal loan is right for you, compare rates from multiple lenders.

The loan with the lowest APR is the least expensive — and usually the best choice. Here are the most important features to compare on personal loans. When comparing offers, APR tells you which is the least expensive overall.

It also provides an apples-to-apples comparison across financial products, so you can compare the cost of a personal loan to a credit card, for example. Monthly payment: Even if a loan has a low APR, you need room in your budget to repay it each month. Your monthly payment is determined by the loan amount, interest rate and repayment term.

Use a personal loan calculator to see how the rate and repayment term affect the monthly payment. Fees: The most common fees on a personal loan are late and origination fees. If your lender charges this fee, make sure the final loan amount will be enough to cover your expenses.

Funding time: Many lenders can fund a loan the day after approval, but some take up to a week to send you the money. If you need cash fast, compare fast personal loans to find a lender that offers same- or next-day funding. Payment flexibility: Some lenders let you choose your initial payment date and allow multiple changes during repayment, while others require you to pay on the same date each month for the life of the loan.

Other consumer-friendly features: If you have a couple of competitive offers, consider other common personal loan features to break the tie.

Some lenders offer rate discounts, no fees, extra long repayment terms on home improvement loans or direct fund transfers to other creditors on debt consolidation loans. Check your credit score. Learn about your personal loan options based on your credit score. This will give you an idea of what rate and payment to expect as you shop for loans.

You might decide to postpone getting a loan and instead take steps to build your credit in order to get a lower rate or a larger loan. Compare your options. Here's how to compare personal loans and credit cards. Find a co-applicant. If you have bad credit, having a co-signer with good credit allows you to piggyback on his or her creditworthiness and potentially get a better rate.

With a joint or co-signed personal loan , your co-applicant has to make payments if you fail to. Consider a secured personal loan.

Using a car, savings account or other asset as collateral may get you a lower rate. The risk is losing your asset if you default on the loan.

Assess your overall financial well-being. Personal loans work best as part of a balanced financial plan. If your current debt is overwhelming, investigate your debt-relief options. Review your credit report. Check your credit report to see what a lender will see and take steps to fix any errors or past-due accounts.

You can get your free credit report with NerdWallet or at AnnualCreditReport. Calculate your payments. Review your budget to see how much room you have for monthly loan payments.

Then, use a personal loan calculator to see what loan amount, rate and repayment term will get you affordable monthly payments. Pre-qualify and compare offers. Most online lenders allow you to pre-qualify without affecting your credit score.

Check your rate with multiple lenders to find the best offer. Once you have multiple loan offers in hand, compare the loan features and fine print, including total costs and any penalties. Gather documents.

Most personal loan applications require proof of income, which can be a W-2, pay stubs or bank statements. Gather these documents before you apply to speed up the process. The final step is to submit your personal loan application. Applying involves a hard credit check that can temporarily lower your credit score.

Depending on the lender, you should receive your funds within a few days. Even before you receive your loan, make a plan to pay it off , ensuring you can manage on-time monthly payments for the life of the loan — whether that's two or seven years. Missing even one loan payment can hurt your credit score, and defaulting on the loan can mean late fees and collections calls.

If you face a financial setback while paying off your loan, reach out to your lender and ask about a hardship option. Some lenders may allow you to defer loan payments for a specified time.

Best for. credit score. Repayment terms. Time to fund after approval. Happy Money. Rocket Loans. Best Egg. Universal Credit. Debt consolidation loans. Installment loans. Bad credit loans. Small personal loans.

NerdWallet writers and editors conduct an annual comprehensive fact check and update of our lender reviews, but also make updates throughout the year as necessary. Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education.

We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. You can get a personal loan from many banks, credit unions and online lenders. Each lender offers different benefits. For example, banks may offer perks for existing customers, while online lenders tend to fund loans more quickly.

Credit unions may offer lower rates to borrowers with low credit scores. Weigh the benefits of online vs.

bank loans. Personal loans can be used for almost any purpose. Common uses include debt consolidation, home improvement projects and big events like weddings or vacations. Personal loans can also cover emergency or medical expenses. Read more about recommended ways to use personal loans.

About the author: Annie Millerbernd is a personal loans writer. Her work has appeared in The Associated Press and USA Today. Annual Percentage Rates APR , loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information.

All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available.

Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

Personal Loans. Personal Loans: Compare Top Lenders, Rates for February Every time. Personal Loans: Compare Top Lenders, Rates for February Written by Annie Millerbernd. Edited by Kim Lowe. Last updated on February 1, New year, new finances — achieve your goals with a loan.

A personal loan can help you turn your resolutions into reality. Just answer a few questions to get personalized rate estimates from multiple lenders. Loan amount GET STARTED. Edit my search. Loan amount. Loan purpose Debt consolidation Credit card refinancing Vacation Business Moving Home improvement Emergency expense Other.

Credit score Excellent Good Fair Bad ZIP code. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.

However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Featured partners. See all partners. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices. Visit Partner. NerdWallet rating Loan term Loan amount APR.

Best for Debt consolidation loans. Go to lender site. Check rate. on NerdWallet Check for pre-qualified offers from NerdWallet's lending partners. This won't affect your credit score. Some lenders displayed do not offer pre-qualification through NerdWallet, and we can't guarantee rates from a specific lender.

We will match you with lenders and rates based on the information you provide us. Loan term 3 to 7 years. APR Range of rates shown includes fixed- and variable-rate loans. Rates are not guaranteed and vary based on the credit profile of each applicant.

See details. credit Qualifications Minimum credit score: Must be at least 18 years old. Must have a valid U. Social Security number. Must have an active email address.

Pros No origination fee. Option to pre-qualify with a soft credit check. Fast funding. Mobile app to manage loan. Cons May charge late fee. No co-sign or joint loan option.

No rate discount. Disclaimer This is not a commitment to lend from Discover Personal Loans. Best for Personal loans for bad to fair credit.

Minimum number of accounts on credit history: One account. Minimum length of credit history: Two years.

Pros Secured and joint loans. Multiple rate discounts. Mobile app to manage loan payments. Direct payment to creditors with debt consolidation loans. Long repayment terms on home improvement loans.

Cons Origination fee. No option to choose your payment date. Disclaimer Personal loans made through Upgrade feature Annual Percentage Rates APRs of 8. Best for Personal loans for good to excellent credit.

Loan term 2 to 7 years.

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