The best in personal loans

Upstart offers personal loans starting at $1,000. Instead of approving loans solely based on credit, the company takes into account other factors, such as your education and employment history. That means Upstart loans are ideal for just about anyone, regardless of their credit score.

Borrowers can get their funds within one business day and the application process is done entirely online. Upstart personal loans have a maximum cap of $50,000.

PNC Bank offers borrowers the option to apply for a personal loan online or at one of the bank’s over 2,000 branches. Personal loans range from $1,000 to $35,000, with repayment terms between six months to five years. PNC Bank doesn’t require borrowers to have an account with them to apply for a personal loan, but those who do, get a 0.25 percent discount on their rate. Additionally, PNC doesn’t charge any application or origination fees and there isn’t a prepayment penalty.

LightStream’s debt consolidation loans can be used to consolidate multiple types of debt, including credit card debt, auto loans, medical debt and personal loans from other lenders. What made LightStream our winner for best debt consolidation loan is its low APRs and Rate Beat Program. Under this program, LightStream will beat any competing offer by 0.1 percent. Besides that, LightStream has a zero fee policy and repayment terms up to 72 months for debt consolidation.

LightStream’s home improvement loans start at $5,000, with a maximum cap of $100,000. This alone makes them a great option for all types of home improvement projects, from small bathroom upgrades to full kitchen remodels. 

The lender also offers the widest range of repayment terms on this list, ranging from 24 months to 84 months. Aside from that, LightStream offers same-day funding, which can be a lifesaver in case of an emergency repair.

LightStream’s personal loans range from $5,000 to $100,000, depending on the purpose. The lender has the lowest starting APR in our list, reserved for those with excellent credit. The application process is done completely online and borrowers can get approved on the spot.

Same-day funding is also available, in addition to a 0.5 percent rate discount for signing up for automatic payments. LightStream doesn’t charge any prepayment penalties, origination or late payment fees.

SoFi’s personal loans feature low starting APRs, flexible amounts, fast funding and repayment terms of up to 72 months for those with credit scores of 680 and up. Borrowers can check their rate before they apply, without hurting their credit.

The company offers same-day funding to over 80 percent of its borrowers, a 0.25 percent rate discount for signing up for autopay and unemployment protection. Customer support is available seven days a week and there are no origination fees or prepayment penalties.

Discover’s personal loans range from $2,500 to $35,000 and have repayment terms of up to seven years. Unlike other lenders, which may charge origination fees and prepayment penalties, Discover doesn’t charge any of these. That, combined with low starting interest rates, makes the company’s personal loans relatively affordable.

Discover also offers borrowers a 30-day money back guarantee. That means if a borrower gets a lower interest rate elsewhere or changes their mind about the loan, they have 30 days to cancel without getting charged. Eligibility requirements are pretty flexible, too. Borrowers just need to be U.S. citizens of at least 18 years of age, have a minimum credit score of 660 and an income of at least $25,000.

PNC Bank’s low starting APR, wide range of repayment options and flexibility made it our top pick for those with credit scores below 600. The bank offers loan amounts ranging from $1,000 to $35,000 and terms ranging from six months to five years.

Although PNC does not disclose its minimum credit score requirement, it offers borrowers the option to add a co-applicant. This alone makes its personal loans more accessible and affordable to those with less-than-stellar credit.