Best Debt Consolidation Loans for August 2022 | Bankrate

The range of loan amounts that a lender will service. The maximum value is the largest amount a lender will give although this amount may not be available to borrowers who don’t have good or excellent credit. Amount ranges may vary for non-loan products. Term refers to the amount of time you have to repay the loan.

LightStream

4.6

Bankrate Score

APR from

5.73%*

with AutoPay

Loan Amount

$5k-
$100k*

Term: 2-7 yr

*

Min. Credit

Not disclosed

See Offers

LightStream

  • o Lowest rate is with AutoPay and for excellent credit only
  • o Loans from $5,000 – $100,000
  • o Same-day funding available (conditions apply)
  • o We guarantee your best-funded loan experience ever

* Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms, and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 7% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $1,500. For a well-qualified customer, a $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month. (Actual terms and rate depend on credit history, income, and other factors.) Customers may have the option to deduct the origination fee from the disbursed loan amount if desired. If the origination fee is added to the financed amount, interest is charged on the full principal amount. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.

APR From

5.73

%

Loan Amount

$5k-
$100k*

Min Credit

Not disclosed

See Offers

Apply on partner site

Upgrade

4.8

Bankrate Score

APR from

6.95-
35.97%

with AutoPay

Loan Amount

$1k-
$50k

Term: 2-7 yr

Min. Credit

Not disclosed

See Offers

Upgrade

  • Personal loans up to $50,000 with low fixed rates that will never change
  • Affordable monthly payments that fit your budget and no prepayment penalties
  • Fast Funding —You should receive your funds within a day of clearing verifications†
  • No obligation and no impact to your credit score when you check your rate
  • Use your loan through Upgrade to pay on high interest credit cards, make a large purchase, finish that home improvement project, or almost any life event!

* Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 6.95%-35.97%. All personal loans have a 1.85% to 8% 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 tài khoản 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.

†Accept your loan offer and your funds will be sent to your bank or designated tài khoản 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.

Fast Funding —You should receive your funds within a day of clearing verifications†

APR From

6.95

%

Loan Amount

$1k-
$50k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Best Egg

4.7

Bankrate Score

APR from

5.99%

3 or 5 year term

Loan Amount

$2k-
$50k

Term: 3-5 yr

Min. Credit

660

See Offers

Best Egg

  • Get a personal loan up to $50,000 with a fixed APR from 5.99% to 35.99%,Get money in as little as one business day, upon approval and verification,Join more than 450,000 customers at a trusted company with an A+ BBB rating,Use it for almost anything: consolidate debt or other unexpected expenses

DISCLOSURE UPDATE AS OF 07.2021
Trustpilot TrustScore as of June 2020.

Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. "Best Egg" is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of "Best Egg" refer to "the Best Egg personal loan", "the Best Egg Secured Loan", and/or "Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan," as applicable.
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 tài khoản within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank's policies. Loan amounts range from $2,000 – $50,000. Residents of Massachusetts have a minimum loan amount of $6,500; New Mexico and Ohio, $5,000; and Georgia, $3,000. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $50,000. Annual Percentage Rates (APRs) range from 5.99% – 35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99% – 5.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate.
You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. 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 tài khoản. What this means for you: When you open an tài khoản, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

APR From

5.99

%

Loan Amount

$2k-
$50k

Min Credit

660

See Offers

Check rate with Bankrate

SoFi

4.6

Bankrate Score

APR from

7.99-
22.73%

with AutoPay

Loan Amount

$5k-
$100k

Term: 2-7 yr

Min. Credit

Not disclosed

See Offers

SoFi

  • Personal loans from $5,000 to $100,000
  • Low fixed rates (with AutoPay) and no origination fees
  • Checking your rate will not affect your credit score
  • Simple online application and live customer support

*Personal Loan Disclaimer Fixed rates from 7.99% APR to 22.73% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 8/1/22 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. 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 above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. 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 tài khoản. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking tài khoản.

APR From

7.99

%

Loan Amount

$5k-
$100k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Payoff

4.6

Bankrate Score

APR from

5.99%

Loan Amount

$5k-
$40k

Term: 2-5 yr

Min. Credit

Not disclosed

See Offers

Payoff

  • No prepayment penalties, application fees, late fees, or hidden fees. Because no one wants to do that
  • You can consolidate all your credit card payments down to one monthly, affordable, fixed-rate payment between 5.99% and 24.99% APR

"This does not constitute an actual commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to enable us to verify your income, assets, and financial condition. Your interest rate and terms for which you are approved will be shown to you as part of the online application process. Most applicants will receive a variety of loan offerings to choose from, with varying loan amounts and interest rates. Borrower subject to a loan origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements."

APR From

5.99

%

Loan Amount

$5k-
$40k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

LendingClub

4.5

Bankrate Score

APR from

6.34-
35.89%

Loan Amount

$1k-
$40k

Term: 3-5 yr

Min. Credit

Not disclosed

See Offers

LendingClub

  • We’ve helped over 4 million members start their journey out of debt
  • Get your cash in as little as 48 hours 1 
  • Check your rate with no impact to your credit score 2
  • Take advantage of unique offerings—balance transfer loans, joint applications, auto loans, and other member perks.

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. 

APR ranges from 6.34% to 35.89% and is determined at the time of application. Origination fee ranges from 2% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 3/15/22 and are subject to change without notice. 

1. Between July 2021 and September 2021, more than two-thirds of personal loans issued by LendingClub Bank were funded within 48 hours after loan approval. The time it takes for a loan to be funded is not guaranteed and individual results vary based on multiple factors, including but not limited to investor demand.
2. Checking your loan rate generates a soft credit inquiry on your credit report, which is visible only to you. A hard credit inquiry, which is visible to you and others, and which may affect your credit score, only appears on your credit report if and when a loan is issued to you. Your loan APR will depend upon your credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and your credit usage and history. 

Unless otherwise specified, all loans and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment.  Deposit accounts are subject to approval.  Only deposit products are FDIC insured. 

“LendingClub” and the “LC” symbol, and “Radius” and the “R” symbol, are trademarks of LendingClub Bank. 
© 2021 LendingClub Bank. All rights reserved.

APR From

6.34

%

Loan Amount

$1k-
$40k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Marcus

4.8

Bankrate Score

APR from

6.99-
19.99%

Loan Amount

$3.5k-
$40k

Term: 3-6 yr

Min. Credit

660

See Offers

Marcus

  • No Fees. Ever. We don't deduct a sign-up fee from your loan amount.
  • Loans from $3,500 to $40,000 and fixed rates from 6.99% to 19.99% APR. Only the most creditworthy applications qualify for the largest loan amounts and lowest rates.
  • Discount when enrolled in Autopay
  • You may be required to have some of your funds sent directly to creditors to pay down certain types of unsecured debt

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose, our evaluation of your creditworthiness, your credit history, if we have recently declined your loan application and the number of loans you already have with us. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. You may be required to have some of your funds sent directly to creditors to pay down certain types of unsecured debt. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.

APR From

6.99

%

Loan Amount

$3.5k-
$40k

Min Credit

660

See Offers

Check rate with Bankrate

Prosper

4.6

Bankrate Score

APR from

7.95-
35.99%

Loan Amount

$2k-
$40k

Term: 3-5 yr

Min. Credit

560

See Offers

Prosper

  • More than $16 billion in loans funded
  • 9 out of 10 customers would recommend Prosper to friends or family*
  • Co-borrower option available. Applying with a co-borrower could help improve your rates
  • Get your money in as few as 3 business days, your monthly payment stays the same

For example, a three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 2.41%-5%. Personal loan APRs through Prosper range from 7.95% to 35.99%, with the lowest rates for the most creditworthy borrowers.
Eligibility for personal loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your tài khoản and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank, Member FDIC.

APR From

7.95

%

Loan Amount

$2k-
$40k

Min Credit

560

See Offers

Check rate with Bankrate

Lending Point

4.4

Bankrate Score

APR from

7.99-
35.99%

Loan Amount

$2k-
$37k

Term: 2-5 yr

Min. Credit

Not disclosed

See Offers

Lending Point

  • “”

* Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms, and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 7% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $1,500. For a well-qualified customer, a $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month. (Actual terms and rate depend on credit history, income, and other factors.) Customers may have the option to deduct the origination fee from the disbursed loan amount if desired. If the origination fee is added to the financed amount, interest is charged on the full principal amount. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.

APR From

7.99

%

Loan Amount

$2k-
$37k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Avant

4.5

Bankrate Score

APR from

9.95-
35.99%

Loan Amount

$2k-
$35k

Term: 2-5 yr

Min. Credit

550

See Offers

Avant

  • Personal loans from $2,000 to $35,000 online.
  • Competitive rates from 9.95% – 35.99% APR and terms from 24 to 60 months
  • Checking your loan options has no impact to your credit score.
  • Fast Decisions, see your loan options in minutes
  • Funding as soon as next business day

*A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. 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 4.75% will be deducted from the loan proceeds. Avant branded credit products are issued by Webbank, member FDIC.

APR From

9.95

%

Loan Amount

$2k-
$35k

Min Credit

550

See Offers

Check rate with Bankrate

OneMain

3.9

Bankrate Score

APR from

18.00-
35.99%

Loan Amount

$1.5k-
$20k

Term: 2-5 yr

Min. Credit

None

See Offers

OneMain

  • Personal and auto loans from $1,500-$20,000 (GA minimum $1,500 existing customers for new loans $3100 for others)
  • A quick decision on your loan request
  • Clear loan terms with no hidden fees and no prepayment penalties
  • Apply online, by phone or at your local branch.

Not all applicants will qualify for larger loan amounts or most favorable loan terms. 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). 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. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. 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. Flat fee amounts vary by state, ranging from $25 to $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes.

Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

APR From

18

%

Loan Amount

$1.5k-
$20k

Min Credit

None

See Offers

Check rate with Bankrate