Best online personal loans in April 2024

While many other lenders have loan maximums of $50,000 or less, SoFi provides a generous personal loan range of $5,000 to $100,000 with repayment terms from two to seven years. This can make it a good choice if you’re looking to cover a large expense. Plus, it doesn’t have a minimum credit score requirement — and if you’re approved, you could get your funds as soon as the same business day.

This lender doesn’t charge any fees on its loans, and there are a few ways to get a reduction on your rate — such as enrolling in autopay or receiving direct deposits with a SoFi checking or savings account. SoFi also offers several benefits to its members, such financial planning resources.

Keep in mind that SoFi also isn’t licensed to offer personal loans in all states, so you’ll need to check if your state is eligible before applying.

• Fixed APR: 8.99% to 29.49%.
• Loan amounts: $5,000 to $100,000.
• Repayment terms: 2 to 7 years.
• Discounts: Autopay discount (0.25%), existing account holder (0.125%), direct creditor payment (0.25%) and direct deposit discount (0.25%).
• Fees: None.
• Min. credit score: No specific minimum.
• Time to fund: As soon as the same business day after approval.

Unlike most lenders that require good to excellent credit, Upgrade doesn’t have a minimum credit score to get approved. This is because, in addition to your credit, it also analyzes several other factors, including your employment and income. So if you don’t have enough of a credit history to generate a credit score (known as having “thin credit”), Upgrade could still be an option.

With Upgrade, you can borrow $1,000 to $50,000 with terms from two to seven years. If you’re approved, you could get your funds within a day of clearing any necessary verifications. You can also get 0.50% off your rate by signing up for autopay.

More rate discounts are available to borrowers who use some or all of their loans to pay off existing debt or who secure the loan with their car as collateral. However, Upgrade doesn’t disclose the amount of these discounts without a registered account. This lender also charges an origination fee as well as fees for late and returned payments, which can increase your overall borrowing costs.

• Fixed APR: 8.49% to 35.99%.
• Loan amounts: $1,000 to $50,000.
• Repayment terms: 2 to 7 years.
• Discounts: Autopay discount (0.50%) as well as discounts for debt consolidation and securing a loan with collateral (amount not disclosed).
• Fees: Origination fee (1.85% to 9.99%), late fee (up to $10) and returned payment fee ($10).
• Min. credit score: No specific minimum.
• Time to fund: Within 1 business day after approval and clearing necessary verifications.

LendingPoint accepts credit scores as low as 660. This could make it a good option for borrowers with fair credit scores, which are usually considered to be scores from 580 to 669.

With LendingPoint, you can borrow $2,000 to $36,500 with terms from two to six years, and if you’re approved, you could get your funds as soon as the next business day. Additionally, you might qualify to reduce your rate after six consecutive, on-time payments. An autopay discount is also available, though the amount you could get off your rate isn’t disclosed unless you have a registered account.

Note that this lender charges an origination fee, and it doesn’t permit co-signers or joint applicants. Its loans also aren’t available in Nevada or West Virginia.

• Fixed APR: 7.99% to 35.99%.
• Loan amounts: $2,000 to $36,500.
• Repayment terms: 2 to 6 years.
• Discounts: Potential rate discount after making on-time payments for 6 months and autopay discount (amount not disclosed).
• Fees: Origination fee (0% to 10%).
• Min. credit score: 660.
• Time to fund: As soon as the next business day after approval.

Prosper is a peer-to-peer (P2P) lending platform where individual investors fund loan requests. In addition to accepting credit scores as low as 600, Prosper also permits joint applications, which can make it easier to get a loan with favorable terms.

Loan amounts from Prosper range from $2,000 to $50,000, and you can choose a term from two to five years. Keep in mind that this lender charges an origination fee as well as fees for check payments, late payments and insufficient funds.

• Fixed APR: 6.99% to 35.99%.
• Loan amounts: $2,000 to $50,000.
• Repayment terms: 2 to 5 years.
• Discounts: None.
• Fees: Origination fee (1% to 7.99%), check payment fee ($5 or 5% of your payment, whichever is less), late fee ($15 or 5% of unpaid amount, whichever is greater) and insufficient funds fee ($15).
• Min. credit score: 600.
• Time to fund: As soon as the next business day after approval.

LightStream offers funding as fast as the same business day after approval — this can make it ideal if you need quick access to cash. The lender also has generous loan amounts of $5,000 to $100,000. Most of its loans have terms from two to seven years, but terms can range up to 12 years for some loan types.

Additionally, this lender charges no fees, and it provides a 0.50% discount for enrolling in autopay. You could also get another 0.10% off your rate through LightStream’s Rate Beat Program if you’ve already been approved for an unsecured loan from a competing lender.

Note that while LightStream doesn’t disclose a minimum credit score requirement, it does disclose that it only approves profiles from borrowers with good to excellent credit (or a creditworthy co-borrower). Typically, a good credit score is considered to be a score of 670 or higher. This lender also doesn’t provide an option to pre-qualify, meaning you’ll have to apply and agree to a hard credit check to see if you’re eligible.

• Fixed APR: 6.99% to 25.99%.
• Loan amounts: $5,000 to $100,000.
• Repayment terms: 2 to 7 years (up to 12 years for some loan types).
• Discounts: Autopay (0.50%) and Rate Beat Program (0.10%).
• Fees: None.
• Min. credit score: Does not disclose.
• Time to fund: As soon as the same business day after approval.

Discover offers one of the lowest minimum annual percentage rates (APRs) and a competitive maximum APR to borrowers with credit scores of at least 660. While this means you could qualify if you have fair credit, Discover could also be a good choice for borrowers with excellent credit who can qualify for the best rates available.

Personal loans from Discover range from $2,500 to $40,000 and come with terms from three to seven years. If you’re approved, your loan could be funded as soon as the next business day.

Note that this lender doesn’t charge origination fees or prepayment penalties, but it does assess a relatively high $39 fee for late payments.

• Fixed APR: 7.99% to 24.99%.
• Loan amounts: $2,500 to $40,000.
• Repayment terms: 3 to 7 years.
• Discounts: None.
• Fees: Late fee ($39).
• Min. credit score: 660.
• Time to fund: As soon as the next business day after approval.

Axos Bank personal loans range from $7,000 to $50,000 and come with terms of three years to six years. Borrowers who already have a high-yield rewards checking account with the bank could also earn additional interest by using their account to make payments on their personal loan.

Note that to qualify with Axos Bank, you’ll need a credit score of at least 700 — higher than most of the lenders on this list. This lender also doesn’t permit co-signers or joint applicants, which means you’ll have to meet its underwriting requirements on your own.

Additionally, Axos Bank personal loans come with fees for late payments and insufficient funds. An origination fee also applies, though it’s lower than what some lenders charge. Still, this lender could be worth considering for borrowers with good credit who can qualify and want to earn additional interest on a rewards checking account.

• Fixed APR: 11.79% to 20.84%.
• Loan amounts: $7,000 to $50,000.
• Repayment terms: 3 to 6 years.
• Discounts: None.
• Fees: Origination fee (1% to 2%), late fee ($15) and insufficient funds fee ($25).
• Min. credit score: 700.
• Time to fund: Within 1 to 3 business days of approval.

If you prefer having extensive customer support access, Avant might be a helpful option. While some lenders have limited support options, you can reach Avant’s customer service team Monday through Friday from 7 a.m. to 10 p.m. Central Standard Time (CST) as well as Saturday and Sunday from 7 a.m. to 8 p.m. CST. These relatively long hours can make it easier to get help at a favorable time.

Avant personal loans range from $2,000 to $35,000 and come with terms from one to five years. If you’re approved, you could get your funds as soon as the next business day. This lender also accepts credit scores as low as 580, which could make it easier to qualify even if you have less-than-stellar credit.

Note that Avant personal loans come with an origination fee as well as fees for late and dishonored payments.

• Fixed APR: 9.95% to 35.99%.
• Loan amounts: $2,000 to $35,000.
• Repayment terms: 1 to 5 years.
• Discounts: None.
• Fees: Origination fee (up to 9.99%), late fee ($25) and dishonored payment fee ($15).
• Min. credit score: 580.
• Time to fund: As soon as the next business day after approval.

If you only need to borrow a small amount, Oportun could be a good choice. Its unsecured personal loans start as low as $300 with a maximum of $10,000 (up to $6,000 for first-time borrowers). If you live in California and own a car, you could also be eligible for a secured loan of $2,525 to $18,500 if you use your vehicle as collateral — though this means you could lose your car if you can’t make your payments.

Oportun also works with borrowers who have no credit, which could make it ideal if you haven’t established much of a credit history yet. Note that this lender charges an origination fee as well as fees for late and returned payments, though amounts will vary depending on your state. Its APRs are also some of the highest of the lenders on this list, which could make an Oportun loan more expensive in the long run.

• Fixed APR: 28.99% to 35.99%.
• Loan amounts: $300 to $10,000 (unsecured); $2,525 to $18,500 (secured).
• Repayment terms: 1 to 5.33 years (depending on your state).
• Discounts: None.
• Fees: Origination fee, late fee and returned payment fee (amount depends on your state).
• Min. credit score: No minimum.
• Time to fund: Within 1 to 3 business days after approval.

While Upstart has a high maximum APR, its minimum APR is one of the lowest on this list, which could make it a good choice for well-qualified borrowers. Its personal loans range from $1,000 to $50,000 with terms of three or five years. If you’re approved, you could get your funds as soon as the next business day.

This lender also uses an alternative scoring model that places less emphasis on a borrower’s credit score. In addition to your credit history, Upstart will consider your education history, school you attended and employment history when making an approval decision.

Because of this, Upstart accepts credit scores as low as 300, but you could still get approved even if you don’t have enough of a credit history to generate a score. However, keep in mind that you’ll typically need good to excellent credit to qualify for the best rates. Additionally, Upstart loans come with an origination fee as well as fees for late and returned payments.

• Fixed APR: 7.8% to 35.99%.
• Loan amounts: $1,000 to $50,000.
• Repayment terms: 3 or 5 years.
• Discounts: None.
• Fees: Origination fee (0% to 12%), late fee ($15 or 5% of past-due amount, whichever is greater) and insufficient funds fee ($15).
• Min. credit score: 300 (can also qualify with no credit score).
• Time to fund: As soon as the next business day.