Hanneh Bareham specializes in everything related to personal and student loans and helping you finance your next endeavor. She aims to help others reach their collegiate and financial goals through making loans easier to understand.
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.
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editoral integrity, this post may contain references to products from our partners. Here's an explanation for how we make money.
Bankrate selected the top personal loan lenders for excellent credit by evaluating interest rates, terms and fees each lender offers. In addition to lender details, Bankrate considers how to choose a personal loan, average rates by credit score and frequently asked questions.
Anyone with a credit score from 800 to 850 (the highest FICO score available) shows they have a great mix of payment history, credit history and amounts owed. A score of 800 or higher qualifies someone as having excellent credit.
An excellent credit score comes with many perks, including access to some of the best personal loan APRs available. If someone with an excellent credit score wants to get a personal loan for a large expense, that person will likely find much better rates than someone with a lower score.
Even with applicants who have excellent credit scores, offers and terms can still vary significantly. Personal loan interest rates range from as low as 3 percent to as much as 36 percent, and loan amounts can be anywhere from $1,000 to $100,000. The variations show that even someone with a high credit score should shop around to find the best loan rates and terms for them.
If you decide that a personal loan is right for your situation, you would follow these steps:
1
Determine how much you need.
Calculate how much money you need, and factor in any origination fees that may be deducted from your loan proceeds.
2
Check your credit score.
The higher your credit score, the better APR you'll receive.
3
Get prequalified.
This lets you check your rates with multiple lenders without hurting your credit score.
4
Compare rates and loan terms.
Look at a variety of lenders, including banks, credit unions and online lenders to see which offers you the best deal.
5
Complete the application process.
You’ll need to submit documents such as pay stubs, tax returns and personal identification.
It's always best to get quotes from a few lenders before applying for a personal loan so you can determine which has the best overall offerings for your situation. When comparing lenders, keep an eye on the following factors:
1
Approval requirements
Every lender has its own threshold for approving potential borrowers. Requirements often include things such as a minimum credit score and minimum income level.
2
Interest rates
The lowest advertised rate is never guaranteed, so try to get prequalified so you can see your real rates. Calculate any fees into the overall cost of the loan to get a better idea of which loan will be most affordable.
3
Loan amounts
Lenders generally have a range of loan amounts they offer. Some lenders may offer larger loan amounts but not smaller loans.
4
Repayment options
A good personal loan lender usually offers multiple repayment terms. If you're borrowing a lot of money, you may want to look for a lender with long repayment terms to decrease your monthly payment. If you have a smaller loan, a shorter repayment term will cut back on the amount of interest you pay overall.
5
Unique features
Look for lenders with any unique perks (or restrictions). Be sure to check that any lender you're considering will allow you to use your loan for the purpose you're intending.
6
Customer service
It's also wise to investigate a company's customer service options. See if the lender offers in-person services, phone support, web support, apps or tools to make sure you can contact the lender in a way that works for you.
The Bankrate promise
Founded in 1976 as the Bank Rate Monitor, a print publisher for the banking industry, Bankrate has a long track record of helping people make smart financial decisions.
We’ve maintained this reputation over four decades by prioritizing facts and experience over hype and hearsay, and quickly responding to economic trends that offer our users a more relevant experience.
From our product comparison tools to award-winning editorial content, we provide objective information and actionable next steps to help you make informed decisions. It’s why over 100 million people put their trust in us every year.
The listings that appear on this page are from companies from which this
website receives compensation, which may impact how, where and in what
order products appear. This table does not include all companies or all
available products. Bankrate does not endorse or recommend any companies.
|
Filters
Check Your Personal Loan Rates
Check personalized rates from multiple lenders in just 2 minutes
Explore loans ranging from $500 to $100,000
This will NOT impact your credit score
Bankrate’s scores for personal loan lenders evaluate 11 data points related to loan costs and terms, as well as customer experience.
The annual percentage rate (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing.
The range of loan amounts that a lender will service. The maximum value is the largest amount a lender will give although this amount may not be available to borrowers who don’t have good or excellent credit. Amount ranges may vary for non-loan products. Term refers to the amount of time you have to repay the loan.
The minimum credit score typically required to qualify for a loan with a given lender. Exact thresholds are not always disclosed by a lender and in certain cases the minimum score is the best estimate based on publicly available information. Credit score refers to FICO 9.0 unless otherwise stated.
Fixed rates and payments with a clear pay off date.
Flexible loan options: explore multiple options and pick the loan amount and term that best fits your budget and timeline.
Fast Funding. Money is sent to your bank account within a day of clearing any verifications. *
Automatic payments and ability to customize the due date: manage your account online or via the mobile app. No prepayment penalties.
Access to free credit score monitoring, educational tools, and personalized recommendations to help you understand and make the most of your credit.
Personal loans made through Upgrade feature APRs of 7.99%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% 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 $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. 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. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/.
Get a personal loan up to $50,000 with a fixed APR from 7.99% to 35.99%
Get money in as little as one business day, upon approval and verification
Join more than 450,000 customers at a trusted company with an A+ BBB rating
Use it for almost anything: consolidate debt or other unexpected expenses
GENERAL AFFILIATE DISCLOSURE UPDATE AS OF 03.2023
*Trustpilot TrustScore as of December 2022. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable.
The term, amount, and APR of any loan we offer to you will depend on your credit sc¬ore, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; Ohio, $5,000; and Georgia, $3,000. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Joseph Walsh – Operations Manager, Email: ccrt-resolution@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-82-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories.
All loans available through Achieve Personal Loans (NMLS ID #227977) are originated by Cross River Bank (a New Jersey state chartered commercial bank) or Pathward, N.A. (Equal Housing Lenders) and may not be available in all states. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Minimum loan amounts vary due to state-specific legal restrictions – please call an Achieve Personal Loans consultant for further details. Loan amounts generally range from $5,000 to $50,000 including origination fees, and are offered based on loan purpose and underwriting conditions. Repayment periods range from 24 to 60 months. APRs range from 7.99% to 35.99% APR and include applicable origination fees. Example loan: four-year $20,000 loan with a rate of 15.49% and corresponding APR of 18.34%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 7.99% APR loan, a borrower will need excellent credit, a loan amount for $12,000.00 or less, and a term of 24 months. Loan origination fees vary from 1.99% to 6.99%. Adding a co-borrower with sufficient income; using at least 85% of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Average interest savings for personal loans range from 0% - 6% based on closed loans that qualified for one or more of our rate discounts in July 2022. †Times noted are estimates and can vary for a loan request from Achieve Personal Loans (NMLS #227977). Same day approvals assume that a fully completed application with all required supporting documentation is provided early enough on a day that our offices are open. Achieve Personal Loans consultants are available Monday–Friday 6AM to 8PM MST and Saturday–Sunday 7AM to 4PM MST.
The only personal loan with added peace of mind to cover your monthly loan payment (Loan Payment Insurance) for up to 3 months due to job loss or disability – continuing to reduce your principal balance on every Happy Money loan
Quickly check your rate without affecting your credit score
No prepayment, late, or check-processing fees
Overview: Happy Money (formerly Payoff) offers low APRs of 10.50 percent to 29.99 percent, making it an ideal lender for borrowers trying to consolidate credit card debt at a lower interest rate. This lender also offers free monthly FICO updates and reports payments to major credit bureaus in order to help borrowers build credit.
This offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition. The rate and terms you may be approved for will be shown to you during the application process. Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements. Only loans applied for and issued on or after January 23, 2023, are covered under the TruStage™ Payment Guard Insurance Policy. Please refer to the certificate of insurance, provided to you with your loan origination documents, for terms and conditions of the coverage. Some exclusions apply. Claims must be submitted for review and approval to CUMIS Specialty Insurance Company, Inc. TruStage™ Payment Guard Insurance is underwritten by CUMIS Specialty Insurance Company, Inc and not by Happy Money. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market. Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705.
9 out of 10 customers would recommend Prosper to friends or family*
Co-borrower option available. Applying with a co-borrower could help improve your rates
Get your money in as few as 3 business days, your monthly payment stays the same
APRs presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at Prosper.com. The estimated APR presented does not bind Prosper. The range of APRs available through Prosper is 6.99% to 35.99%. Only borrowers with excellent credit qualify for the lowest rate available. Your actual APR depends upon credit score, Prosper Rating, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. All personal loans made by WebBank, Member FDIC. For example, a two-year $10,000 personal loan would have an interest rate of 11.5% and a 4.00% origination fee for an annual percentage rate (APR) of 15.64% APR. You would receive $9,600 and make 24 scheduled monthly payments of $468.40. A three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A four-year $10,000 personal loan would have an interest rate of 11.50% and a 5.00% origination fee for an annual percentage rate (APR) of 14.27% APR. You would receive $9,500 and make 48 scheduled monthly payments of $260.89. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 1%-5%. Personal loan APRs through Prosper range from 6.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. **You may receive your funds one business day after your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s ability to quickly process the transaction.
We’ve helped over 4 million members start their journey out of debt
Get your cash in as little as 48 hours 1
Check your rate with no impact to your credit score 2
Take advantage of unique offerings—balance transfer loans, joint applications, auto loans, and other member perks.
Overview: LendingClub allows borrowers to add co-signers to their loans, making this a good fit for those who may not be able to qualify for a loan on their own, or who haven’t had a chance to build up their credit history yet
Competitive rates from 9.95% - 35.99% APR and terms from 24 to 60 months
Checking your loan options has no impact to your credit score.
Fast Decisions, see your loan options in minutes
Funding as soon as next business day
Overview: Avant is a popular lender for borrowers with fair to poor credit. Its minimum credit score requirement is 580 FICO and 550 Vantage, lower than many other lenders. Avant is also a good choice for borrowers who haven’t built up much credit yet.
Check rate with Bankrate
Compare personal loans for excellent credit in March 2023
An excellent-credit loan is a personal loan made for people with credit scores above 800. Because excellent is the strongest credit tier, personal loan lenders are much more likely to approve applications from these borrowers. If you have excellent credit, you're also likely to receive the best interest rates, highest loan limits and most competitive terms.
What is considered an excellent credit score?
Credit scores typically range between 300 and 850, and an excellent is in the 800 to 850 range.
From a lender’s point of view, higher credit scores represent a strong credit history, which gives creditors more confidence that you’ll repay your debts. A good credit score often reflects many years of on-time payments, a good ratio of debts to income and a good mix of credit accounts — like credit cards, car loans and mortgages.
Average personal loan rates for excellent credit
The average personal loan rate for excellent credit is 10.3 percent to 12.5 percent APR. However, with some lenders, your rate could be much lower. The minimum APRs for the lenders profiled on this page range from 2.49 percent to 8.05 percent, and those rates are attainable if you have stellar credit.
Overview: One of the most well-known peer-to-peer platforms, LendingClub specializes in connecting borrowers with investors. It offers personal loans to refinance credit card debt, pay for home improvements, consolidate debt and more. While the minimum credit score is not specified, most borrowers have a score that is in the "good" credit range.
Why LendingClub is best for financial education benefits: If you’re struggling to find a lender that will let you borrow, you might need to enlist the help of a co-borrower. Not every lender offers the option to do this, but LendingClub lets you submit a joint application to help you qualify for a loan or get a better interest rate.
Pros
Option to submit joint application.
Option to change payment date.
Fast funding.
Cons
High maximum APR of 36 percent.
Minimum requirements not listed.
Origination fee.
Who it's for: Borrowers who need a co-borrower.
Lender perks:
Option to change payment date.
Direct debt consolidation payment to creditors.
Prequalification available.
Fees:
2 to 6 percent origination fee.
Late fee of unspecified amount.
Time to receive funds: As soon as two business days.
Overview: Best Egg personal loans are aimed at high-income earners. Best Egg has a minimum credit score requirement of 600 but a minimum 700 FICO score and a minimum individual annual income of $100,000 are required to qualify for Best Egg’s lowest APR. In addition to debt consolidation and credit card refinancing, you can use Best Egg loans to fund special occasions, adoptions, home improvements and vacations.
Why Best Egg is best for quick funding: Best Egg offers same day approval and funding on the next business day after approval.
Pros
Low starting loan amounts in some states.
Flexible due date.
Fast approval and funding.
Cons
Origination fee.
No rate discount.
APR up to 35.99 percent.
Who it's for: Borrowers who need a smaller loan.
Lender perks:
Direct payment option for debt consolidation.
Customer service availability.
Low minimum APR.
Fees:
0.99 to 8.99 percent origination fee.
$15 late fee.
$15 returned payment fee.
Time to receive funds: One to three business days.
Overview: Happy Money loans are available for just one purpose: taking control of credit card debt by rolling multiple payments into one monthly payment.
Why Happy Money is best for additional member benefits: While the average rate for credit cards currently hovers around 20 percent, Happy Money loans start at 10.50 percent, which could save borrowers money on interest and help them get out of debt faster.
Pros
Option to change payment date.
Free monthly FICO updates.
7 days a week customer service.
Cons
Origination fee up to 5 percent.
Requires several years of credit history.
Only eligible for credit card consolidation.
Who it's for: People who want to consolidate credit card debt.
Overview: PenFed credit union has expanded its loan eligibility, claiming that anyone who needs a small loan can now qualify for membership – you just need to maintain a savings account. You can use loans from PenFed to cover home renovations, debt consolidation, travel and even auto repairs.
Why PenFed is best for people needing a small loan: PenFed credit union is a great option for those looking to take out a small loan under $50,000. Those with good credit and a solid repayment history have the highest approval odds.
Pros
Low minimum loan amount of $600.
Joint applications.
No origination fees.
Cons
Average maximum amount.
PenFed savings account required.
Late payment penalty.
Who its for: Borrowers who want to join a credit union.
Lender perks:
Small loan amounts.
Member benefits.
7 day customer service.
Convenient mobile app.
Fees:
$29 late fee.
$30 returned payment fee.
Time to receive funds:
Same day at brick and mortar.
1 to 2 business days online.
5 to 7 days via check.
Requirements: Must maintain PenFed savings account.
Overview: LightStream personal loans cater to applicants who have a strong credit history. It offers loan terms from 2 to 7 years for most loans and up to 12 for home improvement projects. LightStream also allows borrowers to choose when they receive the loan money.
Why LightStream is best for most flexible use of loan funds: Its loan terms range from two to 12 years for most loans, which means you can take longer to pay off your loan and benefit from lower monthly payments.
Pros
Rate beat program.
Accredited customer service.
Competitive rates.
Cons
No preapproval.
High minimum loan amount of $5,000.
No due date flexibility.
Who its for:
Those with a strong financial history.
Borrowers who want a longer repayment term.
Lender perks:
Longer repayment terms.
Fast approval.
Autopay discounts.
Fees: None.
Time to receive funds: Same day if approved before 2:30pm EST, Mon-Fri.
Overview: TD Bank offers loans for a variety of uses, including vacations, home renovations and debt consolidation.
Why TD Bank is best for convenience: If you’re located on the East Coast and prefer a brick-and-mortar lender, TD Bank may be a good choice, as it has more than 1,200 locations in the region. TD Bank also offers 24/7 customer support, as well as a fully online experience.
Pros
24/7 online account management.
Soft credit check with prequalification.
Brick-and-mortar lender.
Cons
Eligibility requirements not specified.
Only available in 15 states.
Late fee.
Who its for: Borrowers with excellent credit.
Lender perks:
Quick funding.
Ability to change payment date.
Few fees.
Fees:
5% late fee or $10, whichever is less.
Time to receive funds: As soon as one business day.
Overview: Perhaps most known as a student loan refinancing company, SoFi also offers personal loans and other financial products. Rates on SoFi loans are among the lowest on the market, which the digital lender attributes to its lack of overhead.
Why SoFi is best for extra features: SoFi offers several member benefits, including unemployment protection. The lender will temporarily pause your payments during unemployment and offer job-search assistance.
Pros
Convenient mobile app.
Exclusive member benefits.
Unemployment protection in case of job loss.
Cons
No physical branch.
Minimum credit score of 680 required.
No co-signer release.
Who it's for: Borrowers who need a larger loan.
Lender perks:
Autopay discount.
Unique member benefits.
No fees.
Fees: None.
Time to receive funds: In a few days; larger loans may take longer.
Overview: PNC is a traditional brick-and-mortar bank that is holding its own with online lenders. The rates and fees are competitive, and loans are available for things such as consolidating debt and making a large purchase.
Why PNC Bank is best for in-person service: PNC has roughly 2,700 branches, making it a great option for those who prefer in-person service.
Pros
No origination or prepayment fees.
Member discounts.
Option to submit joint applications.
Cons
Low maximum amount.
Late payment fee.
Branch visit may be required to close.
Who it's for: Those who already have a relationship with the bank.
Lender perks:
Nearly 2,700 locations across 19 states.
Low minimum amount.
Autopay discount.
Fees: late fee, amount not specified.
Time to receive funds: Not specified.
Requirements:
Have a Social Security number.
A valid address of at least 2 years.
One form of photo ID.
FAQs about personal loans
Because most personal loans are unsecured, your credit score is the most important part of your application. The better your credit score, the more likely you are to get approved for a personal loan at the lowest interest rate offered.
That also means the lower your credit score, the less likely you are to qualify for a personal loan. And if you do qualify, you won’t get the lowest interest rate available. The best personal loans for excellent credit will give you the lowest interest rate, fewest fees and best repayment term for your budget. If you don’t have excellent credit, there are still personal loans available, but they might not have all these features.
Having a personal loan won’t hurt your credit score, but applying for one will temporarily cause a dip. That’s because applying for a personal loan causes a hard credit check — when you give a lender approval to check your credit score. Hard credit checks tend to cause a small drop, but it’s not for long, and these checks don’t have a huge impact on your overall score. The weight of hard credit checks also goes down with time.
If you keep up on-time payments every month and pay off your loan, your credit score could see a jump. The opposite is also true: Missing payments will lower your credit score over time.
Personal loan costs vary by lender. For excellent credit, there are some lenders that don’t charge any fees. You’re only responsible for paying back the principal (or the amount you borrowed) plus interest. The lower your interest charges, the less you’ll pay back over the life of the loan.
When it comes to shopping for personal loans, the better your credit score, the more options you have. Generally speaking, there are three main places to get a personal loan:
Online lenders: Because all of the loan application process can be done online, this could be a convenient way to apply and receive funds quickly. Online lenders also make it easy to compare rates, APRs and fees.
Banks: Some banks, like USAA and CitiBank, offer personal loans. Applying with a bank could get you a lower rate if you have an existing checking or savings account with the bank. This could also be a good option if you prefer in-person customer service.
Credit unions: A local credit union may offer more affordable rates and fees than banks and online lenders, especially if you're already a member. However, it's important to be aware that some credit unions may not offer prequalification, so applying could cause a temporary dip in your credit score.
How your personal loan can be used is open as long as it’s for a legal purpose. The most common uses for a personal loan are debt consolidation, home renovations and emergency expenses. However, you can't use personal loan funds to pay for your education costs, and some lenders may restrict usage further. Payoff, for instance, limits its personal loans to credit card debt consolidation.
The exact loan amounts available often depend on your credit score. The good news is that with excellent credit, you'll likely have access to the full range of loan amounts that a lender offers. Most lenders have minimum loan amounts from $1,000 to $5,000, and maximums can stretch from $50,000 to $100,000.
Methodology
To select the top personal loan lenders for excellent credit, Bankrate considered factors that help consumers decide whether a lender is a good fit for them, such as credit requirements and minimum APRs. We sought lenders with low fees and a range of loan amounts for borrowers with varying budgets and credit profiles. We also looked for conveniences like online applications and fast funding.
In addition, the lenders featured here were evaluated for notable features like customer discounts and flexible repayment options.
Of the lenders reviewed, 11 made Bankrate’s list of best personal loans for excellent credit. Each lender has a Bankrate rating, which consists of three categories. These categories include:
Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
.png?optimize=medium&width=120&format=pjpg&auto=webp)
