Best Personal Loans of August 2022 – NerdWallet

SoFi

SoFi

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on SoFi's website

5.0

/5

Best for Personal loans for good to excellent credit

7.99 -22.73%

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 trương mục. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking trương mục.

$5,000 -$100,000

680

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on SoFi's website

Happy Money

Happy Money (Formerly Payoff)

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on Happy Money (Formerly Payoff)'s website

4.5

/5

Best for Personal loans for credit card consolidation

5.99 -24.99%

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.

$5,000 -$40,000

600

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on Happy Money (Formerly Payoff)'s website

BestEgg

Best Egg

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on Best Egg's website

4.5

/5

Best for Secured personal loans

5.99 -35.99%

*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 trương mục 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 trương mục. What this means for you: When you open an trương mục, 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.

$2,000 -$50,000

600

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on Best Egg's website

Lightstream

LightStream

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on LightStream's website

5.0

/5

Best for Home improvement loans

4.99 -19.99%

$5,000 -$100,000

Loan example: A four-year, $20,000 loan with a 13.9% APR would cost $546 in monthly payments. You’d pay $6,208 in total interest on that loan.

660

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on LightStream's website

Upstart

Upstart

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on Upstart's website

4.5

/5

Best for Personal loans for short credit history

5.42 -35.99%

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000).This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $14,775 including a $582 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

$1,000 -$50,000

None

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on Upstart's website

Upgrade

Upgrade

Get rate

on Upgrade's website

5.0

/5

Best for Personal loans for fair credit

6.95 -35.97%

$1,000 -$50,000

560

Get rate

on Upgrade's website

Marcus by Goldman Sachs

Marcus by Goldman Sachs

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on Goldman Sachs' website

5.0

/5

Best for Bank loans

6.99 -24.99%

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 6.99%-24.74%. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. 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 and our evaluation of your creditworthiness. 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. 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.

$3,500 -$40,000

720

720 minimum VantageScore® 3.0 and 720 minimum FICO® 9.0.

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on Goldman Sachs' website

Universal Credit

Universal Credit

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on Universal Credit's website

4.5

/5

Best for Personal loans for bad credit

11.69 -35.93%

$1,000 -$50,000

560

Get rate

on Universal Credit's website

Discover

Discover® Personal Loans

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on Discover's website

5.0

/5

Best for Debt consolidation loans

5.99 -24.99%

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 5.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 10.99% APR for a term of 72 months, you'll pay just $285 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

$2,500 -$35,000

720

Get rate

on Discover's website