The best personal loans lenders for 2022

Upstart offers personal loans with a minimum borrowing amount of $1,000 and low minimum APRs. This lender provides application approval within the same business day and funding by the next business day. The process can be completed entirely online. Upstart has no minimum credit score requirement, making this lender an ideal choice for borrowers with bad credit (300-579).

Best Egg offers personal loans with a minimum borrowing amount of $2,000. Applications are approved within the same business day and funding is typically available by the following business day. Best Egg does require a debt-to-income ratio under 30 percent. The process can be completed entirely online. Best Egg requires a minimum credit score of 640.

Figure offers personal loans with a minimum loan amount of $5,000. Applications can be approved in as little as 5 minutes, and borrowers typically receive funding in as few as 1 to 2 business days. This lender has few fees, only charging an origination fee of up to 3 percent depending on the state you’re applying from. The process can be completed entirely online. Figure requires a minimum credit score of 680, making it the best option for borrowers with good credit (670-799).

Axos offers personal loans with a minimum borrowing amount of $5,000. Applications can be approved within the same business day and funds are typically available within 1 to 2 business days. This lender only charges an origination fee of up to 2 percent with no other fees mentioned. The process can be completed entirely online. Axos requires a minimum credit score of 720, making this an ideal lender for borrowers with excellent credit (800+).

LightStream has the longest repayment period of the lenders we evaluated at up to 12 years, as well as same-day fund delivery and a low minimum APR. LightStream requires borrowers to take out a loan of at least $5,000 but does not charge any fees. The loan amount can go up to $100,000, which makes these loans an option for even large home renovations.

LightStream offers one of the lowest minimum APRs for personal loans. It does not charge any additional fees and offers participation in a Rate Beat program. This program allows you to get a rate 0.1 percentage points lower than any competing lender’s unsecured loans. The entire loan process can be completed online. While LightStream offers repayment times up to 12 years for home projects, it still offers one of the longest repayment times for other loan products at seven years.

Marcus by Goldman Sachs offers a fast and convenient online borrowing experience. The entire process can be completed online, and the lender offers online account access and an app.  Loan amounts range from $3,500 to $40,000, and customer service is available seven days a week. Funds are available in as few as three days. The website is easy to navigate and includes a detailed resource section to help borrowers understand their options.

TD Bank offers personal loans with a minimum borrowing amount of $2,000. This lender offers same-day approval with funding as soon as the next business day. They also only charge one fee, a late fee at 5 percent of your payment or $10, whichever is lower. TD Bank offers 24/7 customer support, an app for both Android and iOS, as well as the option to complete the loan process entirely online.