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Best personal loans for excellent credit in July 2024

Updated Jun 13, 2024

What to know first: A credit score from 800 to 850 shows you know how to manage your credit. And an excellent credit score comes with many perks, including access to some of the best personal loan APRs available, higher loan amounts and more repayment options.

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LightStream: Best for excellent credit

4.7

Est. APR
8.89- 24.29%
* with AutoPay
Loan term
3-7 yrs*
Loan amount
$5k- $100K
Min credit score
695
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PERSONAL LOANS

Upstart: BEST FOR LOW INTEREST RATES

4.8

Est. APR
7.80- 35.99%
Loan term
3-5 yrs
Loan amount
$1k- $50K
Min credit score
300
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PERSONAL LOANS

Achieve: BEST FOR PEOPLE WITH AN EXCELLENT CREDIT CO-BORROWER

4.7

Est. APR
8.99- 35.99%
Loan term
2-5 yrs
Loan amount
$5k- $50K
Min credit score
620
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PERSONAL LOANS

Happy Money: Specialized debt consolidation

4.6

Est. APR
11.72- 17.99%
Loan term
2-5 yrs
Loan amount
$5k- $40K
Min credit score
640
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PERSONAL LOANS

Citi® Personal Loan: Best for no fees

4.6

Est. APR
11.49- 20.49%
Loan term
1-5 yrs
Loan amount
$2k- $30K
Min credit score
720
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PERSONAL LOANS

Upgrade: Paying off debt

4.7

Est. APR
8.49- 35.99%
with AutoPay
Loan term
2-7 yrs
Loan amount
$1k- $50K
Min credit score
600
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Check rate with Bankrate

PERSONAL LOANS

Best Egg: BEST FOR QUICK FUNDING

4.6

Est. APR
8.99- 35.99%
Loan term
3-5 yrs
Loan amount
$2k- $50K
Min credit score
600
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Check rate with Bankrate

PERSONAL LOANS

Prosper: BEST FOR JOINT APPLICATIONS

4.6

Est. APR
8.99- 35.99%
Loan term
2-5 yrs
Loan amount
$2k- $50K
Min credit score
640

PERSONAL LOANS

PNC: BEST FOR IN-PERSON SERVICE

4.6

Est. APR
8.19- 24.74%
with autopay
Loan term
0.5-5 yrs
Loan amount
$1k- $35K
Min credit score
Not disclosed

PERSONAL LOANS

TD Bank: Best for convenience

4.7

Est. APR
8.99- 23.99%
Loan term
3-5 yrs
Loan amount
$2k- $50K
Min credit score
700

Compare excellent credit loans rates from Bankrate’s top picks

Having excellent credit means there’s no shortage of options when it comes to personal loans. But even so, it’s a good idea to compare lenders’ APRs, loan amounts, repayment terms, credit requirements and who they cater to. Use these factors to select the best personal loan for your needs.

LENDER BEST FOR ESTIMATED APR LOAN AMOUNTS TERM LENGTHS MIN CREDIT SCORE
LightStream Excellent credit 7.49%-25.49% with Autopay $5,000-100,000 2-7 years 695
Upstart Low interest rates 7.80%-35.99% $1,000-$50,000 3-5 years No requirement
Achieve People with an excellent credit co-borrower 8.99%-35.99% $5,000-$50,000 2-5 years 620
Happy Money Specialized debt consolidation 11.72%-17.99% $5,000-$40,000 2-5 years 640
Citi No fees 11.49%-20.49% $2,000-$30,000 1-5 years 720
Upgrade Paying off debt 8.49%-35.99% $1,000-$50,000 2-7 years 600
Best Egg Quick funding 8.99%-35.99% $2,000-$50,000 3-5 years 600
Prosper Joint applications 8.99%-35.99% $2,000-$50,000 2-5 years Not specified
PNC Bank In-person service Varies by ZIP code $1,000-$35,000 6 months to 5 years Not Specified
TD Bank Convenience 8.99%-23.99% $2,000-$50,000 3-5 years 700

A closer look at our top excellent credit loan lenders

Here's a deep dive into the lenders, why each is the best in each category and specifically who would benefit most from borrowing from the lender.

LightStream: Best for excellent credit

LightStream
Rating: 4.7 stars out of 5
4.7

Overview: LightStream — part of Truist Bank — is an online lender providing loans that can be used for practically any legal purpose. It offers exceptionally low rates for creditworthy borrowers, and is the only company among our best lenders that offers a customer service guarantee of $100.

Est. APR
8.89%–24.29%
Loan amount
$5k– $100k
Min credit score
695

Upstart: Best for low interest rates

Upstart
Rating: 4.8 stars out of 5
4.8

Overview: Upstart was founded in 2012 and is an online lender that leverages AI technology to evaluate applications. It doesn't charge any prepayment fees, offers same-day funding and has one of the lowest minimum rates out of the best excellent credit lenders, starting below 8 percent. 

Est. APR
7.80%–35.99%
Loan amount
$1k– $50k
Min credit score
300

Achieve: Best for people with an excellent credit co-borrower

Achieve
Rating: 4.7 stars out of 5
4.7

Overview: Achieve is a lender dedicated to helping borrowers consolidate and eliminate excessive amounts of high-interest debt. It offers discounts to its members and provides personalized debt relief solutions. 

Est. APR
8.99%–35.99%
Loan amount
$5k– $50k
Min credit score
620

Happy Money: Best for specialized debt consolidation

Happy Money
Rating: 4.6 stars out of 5
4.6

Overview: Founded in 2009 in Costa Mesa, California, Happy Money is a lender that features one loan designed to consolidate debt — the Payoff Loan. It also features the lowest APR maximum out of our best excellent credit lenders.

Est. APR
11.72%–17.99%
Loan amount
$5k– $40k
Min credit score
640

Citi: Best for no fees

Citi® Personal Loan
Rating: 4.6 stars out of 5
4.6

Overview: Citi has the longest history out of all of our best lenders across all categories. Established in 1812, the national bank started as the City Bank of New York. It offers loans for borrowers with excellent credit and unlike most of our excellent credit lenders, doesn't charge any fees.

Est. APR
11.49%–20.49%
Loan amount
$2k– $30k
Min credit score
720

Upgrade: Best for paying off debt 

Upgrade
Rating: 4.7 stars out of 5
4.7

Overview: Aside from credit cards, checking and savings accounts, Upgrade offers personal loans that can help you consolidate debt.

Est. APR
8.49%–35.99%
Loan amount
$1k– $50k
Min credit score
600

Best Egg: Best for quick funding

Best Egg
Rating: 4.6 stars out of 5
4.6

Overview: Best Egg offers tools, products and resources to help consumers get approved for financing products and reach their financial goals. Unlike most traditional lenders, the company offers both secured and unsecured loan options, as well as the option to add a co-signer. 

Est. APR
8.99%–35.99%
Loan amount
$2k– $50k
Min credit score
600

Prosper: Best for joint applications

Prosper
Rating: 4.6 stars out of 5
4.6

Overview: Founded in 2005, Prosper is headquartered in San Francisco. It started solely as a peer-to-peer lender but has since added other products while maintaining a solid core personal loan offering. Its minimum APR is on the lower end, and it allows for co-applicants, which can make landing that low APR more attainable.

Est. APR
8.99%–35.99%
Loan amount
$2k– $50k
Min credit score
640

PNC Bank: Best for in-person service

PNC
Rating: 4.6 stars out of 5
4.6

Overview: As the second oldest bank out of our excellent credit institutions, PNC Bank originated has a longstanding history to back up its personal loan offerings. Unlike most institutions, it offers hardship payment relief services and support for those who fall on hard times and can't repay their balance. 

Est. APR
8.19%–24.74%
Loan amount
$1k– $35k
Min credit score
Not specified

TD Bank: Best for convenience

TD Bank
Rating: 4.7 stars out of 5
4.7

Overview: TD Bank is one of the few banks included on our list of excellent credit lenders. Established in 1995, TD Bank has a host of features that make it convenient for borrowers, such as its online and mobile banking options, live 24/7 customer service and its wide network of branches across the East Coast. 

Est. APR
8.99%–23.99%
Loan amount
$2k– $50k
Min credit score
700

What is an excellent credit personal loan?

An excellent credit loan is a personal loan that's geared toward the most creditworthy borrowers. This means that only those with FICO scores over (at least) 800 will qualify. Borrowers may also have to meet stringent financial requirements to qualify. 

While this will vary depending on the lender, most require that applicants have a strong, established credit history, a steady income (some even have minimum income limits), a clean credit report and a low debt-to-income (DTI) ratio

Excellent credit loans aren't easy to qualify for, seeing as they're the most competitive on the market. When compared to other loans, they offer the lowest minimum APRs, lower origination fees and flexible repayment options. 

How to compare excellent credit lenders 

Gather quotes from at least three lenders before applying for a personal loan so you can choose the best personal loan option for your situation. When comparing lenders, keep these factors in mind:

  1. Approval requirements: Every lender sets its own rules for approving potential borrowers. Requirements often include minimum credit scores and minimum income levels.
  2. Interest rates: The lowest advertised rate is never guaranteed, so get prequalified to see your real rates. Calculate any loan 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 offer a range of loan amounts. Some lenders specialize in larger loan amounts while others focus on smaller loan sizes.
  4. Repayment options: Personal loan lenders usually offer multiple repayment terms, typically ranging from one year to seven years. If you're borrowing a lot of money, a long repayment term could 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. Customer service: Investigate each company's customer service options. See if the lender offers in-person services, phone support, web support, apps or tools so you can contact the lender with questions about your personal loan.

Pros and cons of excellent credit personal loans

Just like with every other type of loan, there are advantages and disadvantages even if you have excellent credit. Here's what to be aware of before signing on the dotted line.

Green circle with a checkmark inside

Pros

  • Lower interest rates than credit cards.
  • No need to put up an asset, as most are unsecured.
  • Interest and repayment terms are fixed, so your monthly payment stays the same.
  • Can boost your credit score with on-time payments.
  • They add to your credit mix.
  • Flexibility to use the funds in a variety of ways.
Red circle with an X inside

Cons

  • Origination fees can add to the cost of borrowing.
  • Paying late or missing payments can damage your credit.
  • Interest can’t be avoided, unlike with a zero-percent interest card.
  • Potentially increases your debt-to-income ratio.
  • You can’t borrow as you go — funds are disbursed in a lump sum.

What are the best uses for an excellent credit personal loan?


Nationally recognized student financial aid expert

If you have excellent credit, you are more likely to qualify for a personal loan, but you will also pay a lower interest rate, saving you money. Although you can use a personal loan for many things, such as paying for a wedding, cosmetic surgery, traveling and going on a vacation, the best uses are the ones that yield a positive return on your investment, as opposed to pure consumption. These include paying for your education, home improvement and business startup expenses. Using a personal loan for debt consolidation can also help you save money by reducing the average interest rate on your debt.

Senior Loans Writer

With some excellent credit rates hovering around the 6 percent range, an excellent credit personal loan can be a strategic tool to fill temporary cash needs. It can fund the completion of an over budget home improvement much more quickly and at a lower rate than current home equity loans. If you need a quick funding source to make a large purchase you had intended to pay for with a delayed commission or bonus, an excellent credit loan may fill the gap. These loans also come in handy if you’re buying and renovating property and need quick, cheap cash to complete the improvements.

Average personal loan rates for excellent credit

The average personal loan rate for excellent credit is 10.7 percent to 12.5 percent APR. However, with some lenders, your rate could be much lower. In fact, some of the lenders profiled offer rates below 8 percent.

Estimated APR by FICO credit score ranges

CATEGORY CREDIT SCORE PERCENTAGE OF PEOPLE IN THIS CATEGORY ESTIMATED APR
Excellent 800-850 21% 10.73%-12.50%
Very good 740-799 25% 10.73%-12.50%
Good 670-739 21% 13.50%-15.50%
Fair 580-669 17% 17.80%-19.90%
Very poor 300-579 16% 28.50%-32.00%
Source: Experian, Bankrate Data
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In the news

"Personal loan rates have continued to rise since the beginning of the year, despite overall forecasts for lower rates. This could be due to a jump in the unemployment rate from 3.7 percent to 3.9 percent — the highest it’s been since January 2022."

– Denny Ceizyk, Bankrate Senior Loans Writer

Alternatives to personal loans for excellent credit users

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Alternatives to personal loans

If a personal loan isn't the best fit for your situation, there are alternative funding options to consider. Look into each product's details and consider the potential long-term financial impact before making a final decision. 

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Frequently asked questions about excellent credit personal loans

How we choose our best excellent credit loan lenders

Bankrate's trusted personal loans industry expertise

57

years in business

30

lenders reviewed

20

loan features weighed

665

data points collected

To select the best excellent-credit personal loans, Bankrate’s team of experts evaluated over 30 lenders. Each lender was ranked using a meticulous 20-point system, focusing on four main categories:

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