Best Personal Loans for Good Credit of September 2024
If you have good or excellent credit, affordable personal loans are available. For example, most lenders offer financing up to $100,000, and APRs range from 5% to 10%. Moreover, borrowers with good and excellent credit receive the most flexible terms due to their upstanding records. Also, a guarantor or cosigner can help lower your APR if you have fair credit. And if you’re willing to provide upfront collateral, a secured personal loan also has lower borrowing costs.
To find the best personal loans for good credit, see our marketplace. It has several competitively-priced products issued by the most reputable lenders. Moreover, checking your rate won’t impact your credit score, and there is no upfront commitment. As a result, please browse the available options before settling for an expensive loan.
Best Personal Loans for Good Credit of September 2024
When searching for a personal loan, you can browse products offered by lenders or use loan comparison sites. For context, the former issues loans directly, while the latter connects you with lenders willing to provide financing.
But which is better?
The reality is that loan comparison sites like Even Financial and SuperMoney partner with the most prominent and most respected lenders in the marketplace. Moreover, they make the selection process easy because they consolidate several competing offers in one place.
For example, you can browse personal loan offers from Upgrade, BestEgg, and Marcus by Goldman Sachs and compare the pros and cons. Or, you can use a loan comparison site and analyze several loans at once. Moreover, loan comparison sites let you filter your results by loan amounts, credit scores, and why you need financing. This way, the personalized results have the highest chance of approval.
On the flip side, if you enjoy conducting research, you can’t go wrong by spending an afternoon browsing your options. However, if you want to find the best personal loans for good credit in the shortest time, comparison sites are your best bet.
| Lender: | Loan Amount: | APR: | Min. Credit Score: | Best For: |
|---|---|---|---|---|
| SuperMoney | $600 – $100,000 | 4.99% – 35.99% | 600 | Comparing multiple offers |
| SoFi | $5,000 – $100,000 | 5.74% – 20.28% | 680 | No-fee personal loans |
| Prosper | $2,000 – $40,000 | 7.95% – 35.99% | 640 | Obtaining multiple personal loans |
| Upgrade | $1,000 – $50,000 | 8.49% – 35.99% | 560 | High DTI ratios |
| PersonalLoans | $1,000 – $35,000 | 5.99% – 35.99% | 580 | Short and long-term personal loans |
| LendingTree | $1,000 – $50,000 | 2.49% – 35.99% | 600 | Obtaining a low APR |
| BestEgg | $2,000 – $50,000 | 5.99% – 35.99% | 550 – 600 | Wide range of credit scores |
| Laurel Road | $5,000 – $45,000 | 7.00% – 24.75% | 660 – 700 | Debt consolidation |
| LendingClub | $1,000 – $40,000 | 7.04% – 35.89% | 600 | Good credit scores, low DTI ratios |
| FreedomPlus | $7,500 – $50,000 | 7.99% – 29.99% | 620 | Debt consolidation |
| Upstart | $1,000 – $50,000 | 4.6% – 35.99% | 300 | Low credit scores, high DTI ratios |
| Marcus by Goldman Sachs | $3,500 – $40,000 | 6.99% – 19.99% | 660 | No-fee personal loans |
| Pentagon Federal Credit Union | $600 – $50,000 | 4.99% – 17.99% | 650 | High DTI ratios |
| Discover | $2,500 – $35,000 | 5.99% – 24.99% | 660 | Debt consolidation |
| Wells Fargo | $3,000 – $100,000 | 5.74% – 19.99% | 660 | Wells Fargo customers |
| TD Bank | $2,000 – $50,000 | 6.99% – 18.99% | 700 | Good to excellent credit scores |
| PNC Bank | $1,000 – $35,000 | 5.99% – 35.99% | 660 | Online and in-person service |
| LightStream | $5,000 – $100,000 | 2.49% – 19.99% | 660 | Strong credit profiles |
| Happy Money | $5,000 – $40,000 | 5.99% – 24.99% | 550 | A stable credit history |
| TransformCredit | $3,000 – $7,000 | Up to 35.99% | 750 | Borrowers with cosigners |
SuperMoney
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| Loan Amount: | $600 – $100,000 |
| APR: | 4.99% – 35.99% |
| Min. Credit Score: | 600 |
| Approval: | 1 – 7 Days |
| Terms: | 1 – 7 Years |
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| Best For: | Comparing multiple offers |
| Check rates | |
SuperMoney is another loan comparison site that can help you find the best personal loans for good credit. And with metrics similar to Credible, platform lenders offer loans that range from $600 to $100,000 with APRs of 4.99% to 35.99%. Moreover, terms of one to seven years are available, and loan origination fees range from 1% to 8%. In addition, SuperMoney notes that most lenders require a credit score of at least 600 and that borrowers near the low-end will likely incur higher APRs.
But SuperMoney’s website is easy to navigate, and you can obtain a personalized quote with a few clicks. Likewise, you also have access to private student loans and personal lines of credit. And while you can shop for auto title and payday loans at SuperMoney, we strongly recommend that you avoid them.
Thus, SuperMoney is a great place to start your search. With curated options and detailed data helping filter out the noise, you can find the best personal loans for good credit with minimal effort. Furthermore, there are no fees to use SuperMoney, since the lenders compensate loan comparison sites. As a result, since they only get paid if you agree to the terms, it’s in their best interest to find you the most suitable options. In addition, borrowers in all states should be able to apply.
Pros:
- SuperMoney connects you with lenders that offer personal loans that range from $600 to $100,000.
- SuperMoney can help you obtain an APR as low as 4.99%.
- Terms of one to seven years offer repayment flexibility.
- Borrowers in all states should be able to apply.
- Applying does not impact your credit score.
Cons:
- Lenders on SuperMoney’s platform typically have loan origination fees that range from 1% to 8%.
- Lenders’ late payment fees vary.
The impact of COVID-19:
Since SuperMoney is a comparison site, it doesn’t issue loans directly. Moreover, the lenders on SuperMoney’s platform determine their deferral and forbearance policies independently. As a result, you need to contact your lender directly to determine the available options.
SoFi
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| Loan Amount: | $5,000 – $100,000 |
| APR: | 5.74% – 20.28% |
| Min. Credit Score: | 680 |
| Approval: | 1 – 7 Days |
| Terms: | 2 – 7 Years |
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| Best For: | No-fee personal loans |
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SoFi makes finding the best personal loans for good credit a breeze. For example, comparable products have APRs that range from 5.99% to 35.99%. However, SoFi’s personal loans have APRs that range from 5.74% to 20.28%. Moreover, you can borrow as little as $5,000 and upwards of $100,000, and terms range from two to seven years. In addition, there are no origination, closing, or prepayment fees, and SoFi doesn’t charge for late payments.
On top of that, you can earn a $10 bonus for applying. However, you need to have a SoFi Money account or open one within 60 days to be eligible. Furthermore, SoFi’s personal loans are unsecured, so you don’t have to post any collateral. And the company only conducts a soft credit pull when you submit your application, so inquiring won’t impact your credit score. However, if you’re approved and agree to the terms, SoFi will conduct a hard credit pull, which may affect your credit score. But borrowers in all states should be able to apply.
Pros:
- SoFi lets you borrow anywhere from $5,000 to $100,000.
- SoFi has competitive APRs that range from 5.74% to 20.28%.
- Terms of two to seven years offer repayment flexibility.
- Applying does not impact your credit score.
- Borrowers in all states should be able to apply.
- SoFi doesn’t charge origination, closing, prepayment, or late payment fees.
Cons:
- The minimum loan amount is $5,000.
- SoFi’s minimum credit score is higher than its competitors.
The impact of COVID-19:
SoFi’s Special Handling Team offered assistance to borrowers struggling to make their loan payments during the pandemic. If you find yourself in a similar situation, you can contact SoFi at 1-855-456-7634 to learn more about the options available.
Prosper
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| Loan Amount: | $2,000 – $40,000 |
| APR: | 7.95% – 35.99% |
| Min. Credit Score: | 640 |
| Approval: | 1 Day |
| Terms: | 3 – 5 Years |
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| Best For: | Obtaining multiple personal loans |
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Prosper should be on your radar if you want to find the best personal loans for good credit. For example, the lender issues personal loans ranging from $2,000 to $40,000 with APRs of 7.95% to 35.99% and three to five-year terms. In addition, loan origination fees range from 2.41% to 5%. However, Prosper is one of the most respected companies in the marketplace and makes it easy to find the best personal loans for good credit.
Furthermore, qualifying borrowers can take out more than one loan. However, the rules require that your initial loan is in good standing, operational for at least six months, and the total balance does not exceed the $40,000 maximum. In addition, you can’t have any charge offs with Prosper or have been more than 15 days delinquent on loans obtained within the last 12 months.
Also, if your scheduled loan payment is 15 days past due, Prosper charges a late payment fee of 5% of the amount due, or $15, whichever is greater. As a result, it’s essential to keep track of your cash flow. For context, when you apply for a loan on Prosper’s platform, you create a loan “listing” that appears within its marketplace. Then, you can view several of the best personal loans for good credit, and you can choose which one is right for you. In addition, inquiring does not require a commitment, and checking your rate won’t impact your credit score. In addition, borrowers in all states should be able to apply.
Pros:
- Prosper lets you borrow anywhere from $2,000 to $40,000.
- Prosper has competitive APRs that range from 7.95% to 35.99%.
- Terms of three to five years offer repayment flexibility.
- Borrowers in all states should be able to apply.
- Applying does not impact your credit score.
Cons:
- Prosper charges late payment fees of 5% of the amount due, or $15, whichever is greater.
- Prosper’s loan origination fee ranges from 2.41% to 5%.
The impact of COVID-19:
While Prosper offers borrowers a 15-day grace period before levying late payment fees, assistance is available if you suffer from financial hardship. Prosper recommends that you contact the loan company at 1-800 843-1662, or via email at covidhelp@prosper.com.
Upgrade
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| Loan Amount: | $1,000 – $50,000 |
| APR: | 8.49% – 35.99% |
| Min. Credit Score: | 560 |
| Approval: | 1 Day |
| Terms: | 2 – 7 Years |
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| Best For: | High DTI ratios |
| Check rates | |
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49% – 35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. The lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36 – month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower, and your loan offers may not have multiple term lengths available. The actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed-rate loan. There is no fee or penalty for repaying a loan early.
As another winner for finding the best personal loans for good credit, Upgrade lets you borrow anywhere from $1,000 to $50,000, with APRs of 8.49% to 35.99%. Moreover, terms range from two to seven years, and origination fees range from 1.85% to 9.99%. In addition, you need to have a minimum credit score of 560 to qualify. However, the stipulation is slightly