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We compared rates, fees, approval times, and borrower experience across 40+ personal loan lenders to find the best options for every financial situation.
Senior Finance Editor
SoFi offers the best overall personal loan experience with no fees, competitive rates starting at 8.99% APR, and same-day funding for qualifying borrowers.
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LightStream's Rate Beat Guarantee and loans up to $100,000 make it the go-to lender for creditworthy borrowers seeking large loan amounts at rock-bottom rates.
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Marcus offers zero-fee personal loans with an on-time payment reward that lets you defer one payment per year. Ideal for debt consolidation with direct creditor payments.
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Upstart uses AI-based underwriting to approve borrowers that traditional lenders overlook — making it the best option for those with limited credit history or fair credit scores.
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LendingClub pioneered peer-to-peer lending and remains a solid option for borrowers seeking joint loans or those who prefer the marketplace lending model.
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Personal loans can be powerful financial tools — whether you're consolidating debt, financing a home improvement, or covering an unexpected expense. After reviewing 40+ lenders on rates, fees, funding speed, and eligibility requirements, here are our top picks.
SoFi consistently earns our top recommendation for personal loans. With no origination fees, competitive rates, and same-day funding available, it serves borrowers with good-to-excellent credit exceptionally well. SoFi's unemployment protection program is a unique differentiator — if you lose your job, they'll pause your payments and help you find new employment.
LightStream, a division of Truist Bank, offers some of the lowest rates in the market and loan amounts up to $100,000. Their Rate Beat program will beat any qualifying competitor's rate by 0.10 percentage points. LightStream is ideal for creditworthy borrowers taking larger loans for home improvements or major purchases.
Marcus offers no-fee personal loans with fixed rates, flexible payment dates, and on-time payment rewards. Their platform is designed specifically with debt consolidation in mind, offering direct payment to creditors and competitive consolidation rates.
| Feature | SoFi Personal Loans | LightStream | Marcus by Goldman Sachs | Upstart | LendingClub |
|---|---|---|---|---|---|
| Rating | 4.9 | 4.7 | 4.6 | 4.3 | 4.2 |
| APR Range | 8.99%–29.49% | 7.49%–25.49% | 9.99%–24.99% | 7.80%–35.99% | 9.57%–35.99% |
| Loan Term | 2–7 years | 2–12 years | 3–6 years | 3–5 years | 2–5 years |
| Loan Amount | $5,000–$100,000 | $5,000–$100,000 | $3,500–$40,000 | $1,000–$50,000 | $1,000–$40,000 |
| Funding Time | Same day | Same day | 1–4 business days | Next business day | 2–4 business days |
| Min. Credit Score | 680 | 720 | 660 | 300 | 600 |
| Pros | 3 pros | 3 pros | 3 pros | 3 pros | 3 pros |
| Cons | 2 cons | 2 cons | 2 cons | 2 cons | 2 cons |
| Visit Site | Visit Site | Visit Site | Visit Site | Visit Site |
Our editorial team conducted hands-on testing using a standardized methodology developed over years of product evaluation. Each product was assessed across multiple real-world scenarios before recommendations were finalized.
Read our full testing methodology →ExpertPicked is editorially independent. Advertisers never influence our rankings or recommendations. Every review is produced by credentialed experts with hands-on experience in their respective fields.
Reviewed by
Sarah MitchellSenior Finance Editor
Sarah Mitchell is a certified financial planner with 12 years of experience covering personal finance, credit cards, and investment products. She has been quoted in The Wall Street Journal, Forbes, and Bloomberg. Sarah holds a CFP designation and an MBA from Wharton. She tests every financial product she reviews and consults with independent financial advisors to ensure accuracy.
By Sarah Mitchell · 10 min read