Easiest Personal Loans To Get in April 2024

LightStream is so confident in its easy and efficient loan application process that it offers what it calls a Loan Experience Guarantee. If you’re not satisfied with the company, this allows you to receive $100 after completing a questionnaire. Another big plus is its Rate Beat Program, where LightStream pledges to beat a qualified competitor’s rate by 0.1 percentage points. Same-day funding is also available for some borrowers.

LightStream’s loan application process is virtually paperless. You can apply online in a few simple steps by selecting a loan purpose, specifying your preferred loan amount and term, and inputting some basic information, including the following:

• Your home address, phone number and length of stay at your current address
• Your Social Security number
• Your date of birth
• Employment information
• Housing costs and equity
• Savings, checking and retirement account balances

While LightStream does not publish a minimum credit score, the lender indicates you must have good or excellent credit to get approved.

SoFi allows you to check your loan rate online within 60 seconds and offers a streamlined online application process. Funds may be available as soon as the same business day. If you’re borrowing to consolidate debt, SoFi will pay your creditors directly, so you can save a step in the repayment process. The company also has a few unique customer service programs, including financial counseling and the ability to pause loan payments if you lose your job.

SoFi makes applying for a loan simple. Click “View your rate” to get started, and then provide some basic information, including the following:

• Your first and last name
• Your state of residence
• Your email address
• The amount you are interested in borrowing
• Your desired use for the funds
• Your date of birth
• Your home address
• Whether you own your home and your monthly payment
• Your annual income
• Whether you want to apply with a co-borrower

SoFi will do a soft credit check (which does not affect your credit score) and provide your rates within 60 seconds. If you decide to move forward, you can complete the simple online application and sign your loan documents. You may even receive your funding as soon as the same business day.

While SoFi doesn’t publish a minimum credit score for its personal loans, the company does indicate it is common for lenders to require a score of 670 or above.

PenFed requires credit union membership, which means you’ll need to open a savings account and deposit at least $5 to become eligible to borrow if you aren’t already a member. PenFed has one of the lowest minimum loan amounts in the industry – just $600 – but also offers loans up to $50,000. In-person support is available in local branches for those who need some extra assistance.

PenFed allows you to check your rate online without impacting your credit score. You can streamline this process if you are a member and you log in to your existing account. You also have the option to create a membership during the process of checking your rate.

You’ll need to provide some basic details to check your rate and apply for a loan, including the following:

• The reason for the loan
• The requested loan amount
• Your desired loan term
• Your first and last name
• Your date of birth
• Your Social Security number
• Your address, phone number, and email
• Your income
• Your monthly housing payment (if applicable)
• Whether you are applying with a co-borrower

PenFed has indicated you typically need a credit score of 580 or higher to qualify for a personal loan. This is below the credit score many lenders require, making PenFed a good option for borrowers without perfect credit.

Discover has a lower minimum borrowing requirement than many competitors as well as longer repayment terms. You have the option to take as long as 84 months to repay your personal loan.

The company’s rate range is among the lowest in the industry (7.99% to 24.99% as of this writing), and if you are borrowing for debt consolidation, you can also have your creditors paid directly, which can simplify the process.

Discover allows you to check your rate within minutes after providing some basic information, including the following:

• The amount you want to borrow
• The purpose of your loan
• Your desired repayment term
• Your first and last name
• Your address
• Your employment information
• Your total annual income
• Your monthly housing payment
• Whether you have a savings or money market account
• Your Social Security number
• Your date of birth

Discover does not publish its minimum credit score requirement but does indicate your personal or household income must be at least $25,000 to be eligible to borrow. The lender also says its lowest rates are reserved for borrowers with the best credit.

Upstart considers more than credit during its qualifying process, which makes this lender a good option for people with little credit history or a poor credit score. Minimum loan amounts of $1,000 are well below what many competitors require, but Upstart may charge an origination fee, which eats into the amount you receive.

To apply for a personal loan from Upstart, you’ll need to first check your rates by clicking the “Check your rate” button. Your credit score won’t be affected by this process, which takes just five minutes. You will need to provide some basic information, including the following:

• The amount you want to borrow
• The purpose of the loan
• Your legal first and last name
• Your date of birth
• Your address
• Your phone number
• Your highest level of education
• Academic information, including your school and area of study
• Job information, including income and job title

Once you’ve been offered a rate and loan term, you can accept the loan and sign the documents online. Once that’s been completed, the money can be delivered as soon as the next business day.

Upstart indicates that applicants with credit scores must have a minimum score of 300 and no current delinquencies. You also cannot have more than six inquiries on your credit report in the past six months and cannot have any material adverse changes between the time you are offered a loan and the time the loan is funded.

In addition, your total debt must not exceed either 45% or 50% of your income, depending on the state where you live, and you cannot have bankruptcies or public records in the 12 months prior to the time you applied.

U.S. Bank offers more favorable loan terms and has less stringent qualifying requirements for customers of the bank – so if you’re looking for a new checking account, as well, you should take a look at U.S. Bank. Customers may also be able to obtain their borrowed funds within hours of loan approval. While those who are not U.S. Bank customers can still borrow from the bank, they will need a higher credit score and are subject to different loan terms.

You can check your rate and apply for a U.S. Bank personal loan online. The easiest way to do this is to log in to your existing U.S. Bank customer account if you are already a customer. If you aren’t, you can continue as a guest.

You must provide some basic information to find out your rate and move forward with your loan application. This information includes the following:

• The desired loan amount
• How you’ll use the loan funds
• Your annual income, including any nontaxable income you may receive
• Your monthly housing payment and whether you own or rent your home
• Your first and last name
• Your birth date
• Your contact details
• Your home address

If you are a current U.S. Bank customer, the minimum credit score to obtain a loan is 660. Those who are not customers will need a minimum 720 credit score.

Upgrade provides fixed-rate personal loans of up to $50,000. You can apply online within minutes, find out your rate with no credit check and obtain your borrowed funds within a day of the time your loan is verified. The company offers a wealth of discounts and bonuses, including for using autopay, consolidating debt and opening an Upgrade checking account.

Checking your rate and applying for a personal loan from Upgrade is quick and easy. You can get started by inputting your desired loan amount and loan purpose and selecting “Check Your Rate.”

You’ll need to provide some basic information, including the following:

• Your first and last name
• Your home address
• Your date of birth
• Your annual income

Checking your rates will not impact your credit score. The lender does not disclose a minimum credit score but indicates your eligibility and rate will be determined based on your credit score and credit usage history as well as the loan term and related factors. Upgrade further notes that you may be asked to provide documentation during the application process to verify your income and identity.

Wells Fargo allows current bank customers to borrow up to $100,000, and most applicants get a same-day decision on their application. Borrowers can qualify for a relationship discount that reduces their interest rate. It’s also one of the few lenders to offer in-person help on your loan application, at one of its 7,000+ branches across the country.

You must be a current Wells Fargo customer to get a personal loan through this lender. You can submit an application by selecting “Check My Loan Options” and logging in to your existing Wells Fargo account. Most of your personal information will be completed automatically when you log in to your account. Details you will need to provide include the following:

• Your Social Security number
• Your date of birth
• Your citizenship status
• A primary phone number
• Your permanent address
• Details about your employment, including your employer’s name and work number
• Your gross monthly income
• Your monthly housing costs
• Your desired loan amount
• The purpose of your loan

Wells Fargo does not indicate a minimum credit score to borrow, but your eligibility for the loan and your rate will be determined based on your credit history, the amount financed and your loan term. You may need to provide recent pay stubs and other proof of income as well as a utility bill for address verification.