How to get a personal loan


How to get a personal loan

The steps to get a personal loan start with checking your credit and comparing rates. Most online lenders allow you to pre-qualify and see estimated rates without affecting your credit score.

If you have good credit and an existing banking relationship, it’s worth checking out loan options from your current bank or credit union. Here are some top banks that offer personal loans.

Once you have multiple loan offers in hand, compare the loan features and fine print, including total costs and any penalties. The final step is to formally apply for the loan that best fits your needs. Applying involves a hard credit check that can temporarily lower your credit score. Depending on the lender, you should receive your funds within a few days.

How to get a personal loan


Discover: Best for flexible payment options.

·        LightStream: Best for low rates.

·        Marcus: Best for no fees.

·        SoFi: Best for free financial advising.

·        BestEgg: Best for fast loans.

·        FreedomPlus: Best for joint loans.

·        LendingClub: Best for credit-building features.

·        Payoff: Best for credit card consolidation.

·        Prosper: Best for flexible payment options.

·        RocketLoans: Fast application and funding process.

·        Best lenders for fair- or bad-credit borrowers (FICO score below 690)

·        LendingPoint: Best for fast application and approval.

·        OneMain: Best for joint and secured loan options.

·        UniversalCredit: Best for credit-building tools.

·        Upgrade: Best for debt consolidation.

·        Upstart: Best for AI-powered underwriting.

Disclaimers

Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.


Location: United States

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