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Best personal loans for good credit in March 2023

Mar 18, 2023
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A personal loan for good credit is a low-interest loan that offers fair terms. Qualifying for one of these loans typically requires a strong credit history and a reliable source of income, in addition to any other requirements established by lenders.

In general, lenders consider anything above a 670 FICO credit score to be "good" credit, although "very good" credit scores are above 740 and "excellent" credit scores are above 800. You're likely to be approved for a loan with a good credit score, and the higher your score, the lower your rates will be.

The best personal loan interest rates currently range from about 5.99 percent to 36 percent. The actual rate you receive depends on multiple factors, including your credit score, annual income and debt-to-income ratio.

Bankrate considers interest rates, terms and features each lender has to offer to come up with our list of best personal loans for good credit. We also evaluate alternatives to personal loans, current rates and other information to help you decide if a personal loan is the right move for you.

 
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4.6

Bankrate Score
APR from

7.99- 23.99%*

with Autopay
Loan Amount

$5k–$100k*

Term: 2-7 yr*
Min. Credit

Not disclosed

Apply on partner site

4.7

Bankrate Score
APR from

8.24- 35.97%

with AutoPay
Loan Amount

$1k–$50k

Term: 2-7 yr
Min. Credit

560

Check rate with Bankrate

4.7

Bankrate Score
APR from

8.99- 35.99%

Loan Amount

$2k–$50k

Term: 3-5 yr
Min. Credit

600

Check rate with Bankrate

4.6

Bankrate Score
APR from

7.99- 35.99%

Loan Amount

$5k–$50k

Term: 2-5 yr
Min. Credit

620

Check rate with Bankrate

4.6

Bankrate Score
APR from

10.50- 29.99%

Loan Amount

$5k–$40k

Term: 2-5 yr
Min. Credit

640

Check rate with Bankrate

4.1

Bankrate Score
APR from

8.05- 36.00%

Loan Amount

$1k–$40k

Term: 2-5 yr
Min. Credit

Not disclosed

Check rate with Bankrate

4.1

Bankrate Score
APR from

18.00- 35.99%

Loan Amount

$1.5k–$20k

Term: 2-5 yr
Min. Credit

Not disclosed

Check rate with Bankrate

4.5

Bankrate Score
APR from

9.95- 35.95%

Loan Amount

$2k–$35k

Term: 1-5 yr
Min. Credit

Not disclosed

Check rate with Bankrate

4.3

Bankrate Score
APR from

34.00- 155.00%

Loan Amount

$1k–$10k

Term: 0.5-5 yr
Min. Credit

Not disclosed

Check rate with Bankrate

The Bankrate guide to choosing the right personal loan with good credit

Why trust Bankrate?

At Bankrate, our mission is to empower you to make smarter financial decisions. We’ve been comparing and surveying financial institutions for more than 40 years to help you find the right products for your situation. Our award-winning editorial team follows strict guidelines to ensure the content is not influenced by advertisers. Additionally, our content is thoroughly reported and vigorously edited to ensure accuracy.

If you have good credit, you should be able to find a loan offer with competitive interest rates and fair terms. While you likely won’t receive the absolute lowest APR, shopping around will help you find a lender that meets your needs.

Loan details presented here are current as of the publication date. Check the lenders’ websites for more current information. The lenders listed here are selected based on factors such as credit requirements, APR, loan amounts and fees. If you’re on the hunt for a good-credit personal loan, start your research here. To learn more, read our methodology section.

Best personal loans for good credit in March 2023

BEST FOR LENDER APR RANGE MIN CREDIT SOCRE LOAN AMOUNT
High borrowing limits SoFi 7.99%-23.43% (with autopay) 680 $5,000-$100,000
Borrowing money from other investors LendingClub 8.05%-36.00% Not specified $1,000-$40,000
Borrowers who can qualify for the best rates LightStream 7.99%-23.99% (with autopay) Not specified $5,000-$100,000
Joint loans Prosper 6.99%-35.99% 600 $2,000-$50,000
Fast funding Rocket Loans 9.116%-29.99% (with autopay) Not specified Up to $45,000
Borrowers with “okay” credit Best Egg 8.99%-35.99% 600 $2,000-$50,000
A range of repayment terms Discover 6.99%-24.99% 660 $2,500-$35,000
Borrowers who want to price shop Credible 5.40%-35.99% (with autopay) Not specified $600-$100,000
Borrowers who want other factors considered in their applications Earnest Varies by lender 680 $1,000-$250,000
Borrowers who want to consolidate credit card debt Happy Money 10.50%-29.99% 640 $5,000-$40,000

Best for high borrowing limits

Min. credit score:
Not disclosed
Fixed APR From:
7.99% –23.43%
Loan amount:
$5,000– $100,000
Term lengths:
2 to 7 years
Min. annual income:
$30,000
Overview: SoFi offers personal loans from $5,000 to $100,000 with loan terms from 24 to 84 months and APRs starting at 7.99 percent.
Why SoFi is best for high borrowing limits: While many lenders cap personal loans around $40,000 or $50,000, SoFi allows you to borrow any amount from $5,000 to $100,000. Besides that, the lender offers comfortable repayment terms of up to seven years, competitive APRs and no fees.

Best for borrowing money from other investors

LendingClub

LendingClub

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Check rate with Bankrate

Min. credit score:
Not disclosed
Fixed APR From:
8.05% –36.00%
Loan amount:
$1,000– $40,000
Term lengths:
2 to 5 years
Min. annual income:
Not disclosed
Overview: LendingClub is a peer-to-peer lending platform that offers personal loans from $1,000 to $40,000. APRs start at 8.05 percent and borrowers can choose a loan term of 2, 3, 4, or 5 years. 
Why LendingClub is best for borrowing money from other investors: LendingClub operates differently from banks, pooling money from investors to fund loans. This gives the company far more flexibility in evaluating potential borrowers’ credit.

Best for borrowers who can qualify for the best rates

LightStream

LightStream

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Check rate with Bankrate

Min. credit score:
Not disclosed
Fixed APR From:
7.99% –23.99%
Loan amount:
$5,000– $100,000
Term lengths:
2 to 7 years
Min. annual income:
$50,000
Overview: LightStream offers personal loans from $5,000 to $100,000 with loan terms from 24 to 84 months and APRs from 7.99% to 22.49% with autopay.
Why LightStream is best for borrowers who can qualify for the best rates: LightStream offers personal loans from $5,000 to $100,000, with loan terms from 24 to 84 months. The company not only has one of the lowest starting rates, but also promises to beat any competing rate by 0.1 percentage points.

Best for joint loans

Min. credit score:
600
Fixed APR From:
6.99% –35.99%
Loan amount:
$2,000– $50,000
Term lengths:
2 to 5 years
Min. annual income:
Not disclosed
Overview: Prosper is a peer-to-peer lending platform offering personal loans from $2,000 to $50,000. APRs start at 6.99 percent and borrowers can choose a loan term from 36 to 60 months. 
Why Prosper is best for joint loans: Prosper is a peer-to-peer lending platform offering personal loans from $2,000 to $50,000. Unlike other lenders, Prosper allows co-borrowers on its loans, which could help your odds at approval if you're having trouble qualifying on your own.

Best for fast funding

Min. credit score:
640
Fixed APR From:
9.12% –29.99%
Loan amount:
$2,000 - $45,000
Term lengths:
3 to 5 years
Min. annual income:
$640
Overview: Rocket Loans makes it easy for consumers to apply for an unsecured personal loan. APRs start at 9.116 percent and borrowers can choose a loan term from 36 to 60 months. 
Why Rocket Loans is best for fast funding: Rocket Loans’ personal loans range from as little as $2,000 up to $45,000, making them ideal for both emergencies, as well as midsize expenses. The application process is done 100% online and same-day funding is available.

Best for borrowers with “okay” credit

Best Egg

Best Egg

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Check rate with Bankrate

Min. credit score:
600
Fixed APR From:
8.99% –35.99%
Loan amount:
$2,000– $50,000
Term lengths:
3 to 5 years
Min. annual income:
Not disclosed
Overview: Best Egg offers personal loans from $2,000 to $50,000 with loan terms from 36 to 60 months and APRs starting at 8.99 percent.
Why Best Egg is best for borrowers with “okay” credit: Best Egg offers personal loans from $2,000 to $50,000, with loan terms from 36 to 60 months. Best Egg personal loans require a minimum credit score of 600, making it an accessible option for borrowers on the lower end of good credit.

Best for a range of repayment terms

Min. credit score:
Not disclosed
Fixed APR From:
6.99% –24.99%
Loan amount:
$2,500– $35,000
Term lengths:
3 to 7 years
Min. annual income:
$25,000
Overview: Discover offers personal loans from $2,500 to $35,000 with loan terms from 36 to 84 months and APRs starting at 6.99 percent. 
Why Discover is best for a range of repayment terms: While many lenders have only two or three options for a repayment term, Discover offers five. It lets you choose a repayment term of 36, 48, 60, 72 or 84 months if you qualify.

Best for borrowers who want other factors considered in their applications

Min. credit score:
650
Fixed APR From:
4.45% –14.60%
Loan amount:
$1,000– $350,000
Term lengths:
5 to 20 years
Min. annual income:
$35,000
Overview: Earnest partners with Fiona, a personal loan search engine also used by several other lenders profiled on this page, in order to match you with loan offers from multiple lenders. This is an easy way to compare offers without impacting your credit score.
Why Earnest is best for borrowers who want other factors considered in their applications: Instead of making an approval decision based only on your credit history and income, Earnest will consider other aspects of your financial situation, such as a consistent contribution to a savings account.

Best for borrowers who want to consolidate credit card debt

Happy Money

Happy Money

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Check rate with Bankrate

Min. credit score:
640
Fixed APR From:
10.50% –29.99%
Loan amount:
$5,000– $40,000
Term lengths:
2 to 5 years
Min. annual income:
$30,000
Overview: Happy Money offers personal loans from $5,000 to $40,000 with loan terms from 2 to 5 years and APRs starting at 10.50 percent. 
Why Happy Money is best for borrowers who want to consolidate credit card debt: Happy Money’s loans range from $5,000 to $40,000, enough to cover large amounts of credit card debt. The company doesn’t charge prepayment penalties and its member benefits encourage borrowers to pay extra on their loans to get out of debt faster.

What is a good credit loan?

A good credit loan is a personal loan for borrowers with good to excellent credit. Your credit is considered good if you have a score of 670 or higher. While lenders consider other factors when determining your eligibility, such as your debt-to-income ratio, employment status and annual income, your credit score tends to be the most important factor when applying for a loan. 

Good credit allows you to qualify for lenders’ lowest rates and best terms, although you are not guaranteed to qualify for a lender’s minimum interest rate. If you have good credit and are looking to take out a personal loan, the lenders listed below are a good place to start.

Where to get good credit loans

Personal loans for good credit are more widely available than those for fair or poor credit. You can get them from a variety of lenders, including traditional and online banks, credit unions and peer-to-peer lenders.

To find the best personal loan for your situation, you’ll need to compare several lenders’ eligibility requirements, terms, interest rates and fees. Some lenders even offer a prequalification or pre-approval tool that lets you see what you may be eligible for, without damaging your credit. Getting quotes from different lenders will ensure you get the most favorable terms and interest rates for your credit profile.

CREDIT BAND CREDIT SCORE RANGE AVERAGE PERSONAL LOAN INTEREST RATE
Excellent Credit 720-850 10.73%-12.5%
Good Credit 690-719 13.5%-15.5%
Average Credit 630-689 17.8%-19.9%
Bad Credit 300-629 28.5%-32%
Source: Bankrate

Average personal loan interest rates by credit rating

Average personal loan interest rates depend on the borrower's credit score, ranging from as low as 10.73 percent for a borrower with excellent credit to as high as 32 percent for a borrower with poor credit.

Other loans you can get with good credit

A personal loan isn't the right fit for everyone. A few other loans for good credit include:
 
  • Home equity loan: Using the equity in your home, you can take out a sizable loan with a potentially lower interest rate. The downside is that the loan is secured by your home, putting you at risk of foreclosure if you fail to keep up with payments.
  • Home equity line of credit (HELOC): Like a home equity loan, a HELOC lets you use your home to secure a loan based on your home equity. The difference is that a HELOC does not give you loan funds up front; instead, you can draw from your credit line as needed.
  • Personal line of credit: A personal line of credit is similar to a credit card, but you may be able to get a lower interest rate if you have good credit. These are a good alternative to a personal loan if you need to manage ongoing expenses rather than one large expense.
  • Zero-interest credit card: If you feel confident that you can pay back your expenses quickly, a credit card with a 0 percent introductory rate may be a good option. This way, you can borrow money and pay it back over 12 to 18 months without having to pay additional interest.

Tips to improve your credit score

Even if you have good credit, putting in a little work to raise your credit score could save you money on your loan. Use these tips to boost your score:

  • Look for errors on your reports. You can access one free annual credit report each from Experian, TransUnion and Equifax. Regularly examining your reports can help you catch any errors and make sure you aren't being penalized for a financial misstep you didn't make.
  • Make on-time payments. One of the best ways to improve your credit score is to make timely payments on all of your bills. If you're having trouble remembering to make payments, see if any of your lenders offer autopay.
  • Pay down debt. Pay off as much debt as you can before applying for a loan. This will improve your credit score and lower your debt-to-income ratio, which many lenders take into account. If you have a considerable amount of high-interest debt, consider getting a debt consolidation loan to help you achieve this goal.
  • Avoid opening new accounts. Having a diverse credit mix is good, but it's best to avoid opening too many new accounts within a short time frame. Each application will run a hard check on your credit, lowering your score slightly.
  • Don't close old accounts. Credit scoring agencies closely examine the age of your existing accounts. Even if you have an old credit card that you no longer use, keeping it open could benefit your score.

Frequently asked questions about good credit loans

Methodology

To select the top personal loan lenders for good credit borrowers, 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.