Skip to Main Content

Personal Loans

A personal loan is a great financial tool. It can help you consolidate debt, renovate your home, or even pay for college. Ready to explore if it's right for you? We've got everything you need, right here.

Image for Check your personal loan rates

Bankrate logo Check your personal loan rates

Answer a few questions in two minutes or less to see which personal loans you pre-qualify for. It's free and will not impact your credit score.

Find my best rate

Our loan provider picks

Bankrate’s team of experts constantly evaluates lenders to find the best personal loan products for you. We look at the lenders’ APR ranges, loan amounts, fees, length of repayment terms, discounts and customer support options, to come up with our recommendations.

Personal loans

Best for large loans and flexible repayment terms

LightStream
Rating: 4.7 stars out of 5
4.7
Est. APR
7.99%–25.49%
* with AutoPay
Loan amount
$5k– $100k
Term: 2-7 yrs
Min credit score
695
Read our review Arrow Right

on Bankrate

Personal loans

Best for borrowers with less-than-perfect credit

Upstart
Rating: 4.7 stars out of 5
4.7
Est. APR
7.80%–35.99%
Loan amount
$1k– $50k
Term: 3-5 yrs
Min credit score
Not specified
Read our review Arrow Right

on Bankrate

Personal loans basics

Personal loans have a variety of uses and applying for one is fairly easy. What’s more, if properly handled, they could help you boost your credit score. That said, you need to be aware of other factors when applying for one, such as the loan’s interest rate, to ensure you end up with a payment you can afford.

Types of personal loans

Personal loans are unsecured installment loans that come with fixed interest rates and monthly payments. However, there are several types of personal loans. The personal loan that will work best for you depends on a variety of factors, including your credit score, financial health and the purpose of your loan.

What's new

  • Student debt on the rise in 2016

    The 2016 average student debt total is $37,173, a bump of 6.05% over 2015 and the largest it’s ever been.

    2 min read May 05, 2016
  • Where you live impacts personal loans

    State banking and securities authorities have a lot of say over whether peer-to-peer lenders and P2P investors can operate in their states.

    2 min read Mar 30, 2016
  • Skip the cash advance; get a personal loan

    A cash advance on your credit card can get you convenient access to funds, but you’ll pay a higher interest rate than you would when purchasing something with your credit card.

    2 min read Feb 26, 2016
  • Quicken gets into personal loans

    On Feb. 2, the parent company of Quicken, Rock Holdings Inc., announced the launch of RocketLoans, an online service offering personal loans of up to $35,000. That includes loans for things like home improvements, [...]

    1 min read Feb 17, 2016
  • The origination costs of personal loans

    Loan origination isn’t free, even when there are no upfront fees. When you take out a personal loan you’re paying the expense involved with loan origination.

    1 min read Feb 04, 2016

Featured Authors

Hannah Smith Arrow Right Editor, Personal Loans

Hannah has been editing for Bankrate since late 2022. They aim to provide the most up-to-date information to help people navigate the complexities of loans and make the best financial decisions.

Heidi Rivera Arrow Right Writer, Personal Loans

Heidi Rivera is a personal finance writer and reporter for Bankrate. Her areas of expertise include personal loans, student loans and debt consolidation, in addition to data collection and analysis.

Hanneh Bareham Arrow Right Writer, Personal Loans and Debt Relief

Hanneh Bareham has been a personal finance writer with Bankrate since 2020. She started out as a credit cards reporter before transitioning into the role of student loans reporter. She is now a writer on the loans team, further widening her scope across multiple forms of consumer lending.

Rhys Subitch Arrow Right Editor, Personal Loans, Auto Loans, and Debt

Rhys Subitch is a Bankrate editor who leads an editorial team dedicated to developing educational content about personal loans products for every part of life.

The trusted provider of accurate rates and financial information
Wall Street Journal
USA Today
The New York Times
CNN
Bloomberg
ABC