Best low-interest personal loans for May 2025

Best for borrowers with bad credit

PERSONAL LOAN

4.7

6.60- 35.99%

Min credit score

300

$461

Loan amount

$1k-$50k

Best for debt consolidation

PERSONAL LOAN

4.6

7.99- 35.99%

with AutoPay

Min credit score

580

$470

Loan amount

$1k-$50k

Best for peer-to-peer loans

PERSONAL LOAN

4.5

8.99- 35.99%

Min credit score

600

$477

Loan amount

$2k-$50k

on Bankrate

Best online lender

PERSONAL LOAN

4.7

8.99- 29.49%

with all discounts

Min credit score

650

$477

Loan amount

$5k-$100k

Best for low maximum rates

PERSONAL LOAN

4.8

7.99- 24.99%

Min credit score

660

$470

Loan amount

$2.5k-$40k

Best for secured personal loans

PERSONAL LOAN

4.6

6.99- 35.99%

Min credit score

600

$464

Loan amount

$2k-$50k

Best for co-borrowers

PERSONAL LOAN

4.5

8.99- 29.99%

Min credit score

620

$477

Loan amount

$5k-$50k

Read our review

on Bankrate

Best bank loan

PERSONAL LOAN

4.8

8.99- 23.99%

Min credit score

700

$477

Loan amount

$2k-$50k

Read our review

on Bankrate

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A closer look at our top low-interest loans

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

4.5

Read Bankrate's Expert LightStream Review

Overview: LightStream is one of the most competitive online lenders in the personal loan space, offering a quick application process and fast funding. They also offer a maximum loan amount of $100,000 — much higher than many other lenders.

Est. APR

6.49%–25.29%

Loan amount

$5k–$100k

Min credit score

695

Loan term

2-7 yrs

Origination fee

None

Pros

Winner of Bankrate Award for best home improvement loan
High loan amount maximum and no fees
Offers a rate-matching program

Cons

High credit score minimum
No online prequalification
High minimum loan amount

Pros

Winner of Bankrate Award for best home improvement loan
High loan amount maximum and no fees
Offers a rate-matching program

Cons

High credit score minimum
No online prequalification
High minimum loan amount

WHO'S IT FOR:

LightStream loans are best for borrowers with excellent credit scores who need larger loan amounts and longer to pay the loan off.

LightStream loans are best for borrowers with excellent credit scores who need larger loan amounts and longer to pay the loan off.
Established in 2012

Available in all 50 states

Online application

Rate beat program
Loan experience guarantee

Mobile app

No fees

Known qualification requirements

Credit score of at least 695

Several years of credit history

Verifiable liquid assets or savings

Sufficient income stream

Few delinquencies

Fees

None

Time to receive funds

Same day if approved by 2:30 p.m. ET

Truist Bank is an Equal Housing Lender. © 2025 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

4.7

Read Bankrate's Expert Upstart Review

Overview: Founded in 2012 by ex-Googlers, Upstart is headquartered in San Mateo, California and has originated more than $34 billion in personal loans. If you’re looking to consolidate debt to boost your score for a low-interest rate loan in the future, make a large purchase or cover some personal expenses, an Upstart personal loan may be able to help you do it.

Est. APR

6.60%–35.99%

Loan amount

$1k–$50k

Min credit score

300

Loan term

3-5 yrs

Origination fee

Up to 12%

Pros

May approve borrowers with no or low credit
Option to change payment dates
Low start rates for qualified borrowers

Cons

High origination fees
No joint applications
Limited repayment term options

Pros

May approve borrowers with no or low credit
Option to change payment dates
Low start rates for qualified borrowers

Cons

High origination fees
No joint applications
Limited repayment term options

WHO'S IT FOR:

Borrowers with little or no credit history can benefit from an Upstart loan, but so can borrowers with excellent credit who can qualify for the lowest APR.

Borrowers with little or no credit history can benefit from an Upstart loan, but so can borrowers with excellent credit who can qualify for the lowest APR.
Established in 2012

Online application

Available in all 50 states

Prequalification offered
No minimum credit score requirement

Next-day funding available

No prepayment penalty

Known qualification requirements

Have a valid email address

Have a Social Security number

Have a personal bank account

Have steady income or job offer starting within 6 months

Earn a minimum annual income of $12,000

Fees

Origination fee of up to 12%

Late payment fee of the greater of 5% of the past due or $15

$15 check refund fee

$10 paper copy fee

Time to receive funds

Next business day after approval
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

4.6

Read Bankrate's Expert Upgrade Review

Overview: Upgrade personal loans are a good fit for smaller loan amounts or longer repayment terms of up to seven years. The low minimum loan limit comes in handy for an emergency expense, but can also be used to refinance credit cards, consolidate debt, take on home improvement projects or finance major purchases.

Est. APR

7.99%–35.99%

Loan amount

$1k–$50k

Min credit score

580

Loan term

2-7 yrs

Origination fee

1.85%-9.99%

Pros

Option to add a co-borrower
Perks like credit monitoring and seven-day-a-week customer service
Low credit score minimum and flexible repayment terms

Cons

Fees up to almost 10 percent
Qualifying requirements not disclosed on website
High APR maximum

Pros

Option to add a co-borrower
Perks like credit monitoring and seven-day-a-week customer service
Low credit score minimum and flexible repayment terms

Cons

Fees up to almost 10 percent
Qualifying requirements not disclosed on website
High APR maximum

WHO'S IT FOR:

Upgrade loans are best for bad credit borrowers who want to consolidate debt and work toward a higher credit score and lower rate in the future.

Upgrade loans are best for bad credit borrowers who want to consolidate debt and work toward a higher credit score and lower rate in the future.
Established in 2016

Available in all 50 states

Online application

No prepayment penalty
Joint applications

Customer service 7 days a week

Adjustable payment date

Low minimum loan amount

Known qualification requirements

Minimum credit score of 580

U.S. citizenship or permanent resident status

At least 18 years old

Valid email address

Verifiable bank account
Fees

Origination fee of 1.85% to 9.99%

Late payment fee of up to $10

$10 returned check fee
Time to receive funds

Up to four business days if sent to borrower or up to two weeks if sent to creditor

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. 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. 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 bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

4.5

Read Bankrate's Expert Prosper Review

Overview: Prosper is a marketplace pioneer with access to loans for fair credit borrowers. When it launched in 2005, the company became the first peer-to-peer firm to enter the personal loan lending space.

Est. APR

8.99%–35.99%

Loan amount

$2k–$50k

Min credit score

600

Loan term

2-5 yrs

Origination fee

1%-9.99%

Pros

Low minimum credit requirement
Joint applications available
Quick approval and funding

Cons

No autopay discount
Origination fee
High maximum rate

Pros

Low minimum credit requirement
Joint applications available
Quick approval and funding

Cons

No autopay discount
Origination fee
High maximum rate

WHO'S IT FOR:

Prosper is best for borrowers with fair to excellent credit who want the flexibility to have their profile reviewed by multiple investors. It’s also one of the few lenders that allows joint applications if you need help qualifying.

Prosper is best for borrowers with fair to excellent credit who want the flexibility to have their profile reviewed by multiple investors. It’s also one of the few lenders that allows joint applications if you need help qualifying.
Established in 2005

Online application

Available in 48 states

Over 1.4 million customers served

Joint applications
Next-day funding offered

Prequalification available

Payment due date changes allowed

Also offers home equity lines of credit (HELOCs)

Known qualification requirements

Recorded income greater than $0

Resident of qualifying state

At least 18 years old

First-time borrowers: Debt-to-income ratio no greater than 50%

Co-borrowers: Minimum credit score of 600

Co-borrowers: No bankruptcy filings in last 12 months

Co-borrowers: At least one open credit account
Fees

Origination fee between 1% and 7.99%

Late payment fee of $15 or 5%, whichever is greater

Check fee of 5% or $5, whichever is less

$15 insufficient funds fee
Time to receive funds

Next business day after approval

For example, a three-year $10,000 personal loan would have an interest rate of 9.88% and a 7.99% origination fee for an annual percentage rate (APR) of 15.70% APR. You would receive $9,201 and make 36 scheduled monthly payments of $322.11. A five-year $10,000 personal loan would have an interest rate of 11.64% and a 7.99% origination fee with a 15.36% APR. You would receive $9,201 and make 60 scheduled monthly payments of $220.63. Origination fees vary between 1% and 9.99%. Personal loan APRs through Prosper range from 8.99% 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. All personal loans made by WebBank.

4.7

Read Bankrate's Expert SoFi Review

Overview: A SoFi personal loan is a good choice for borrowers who need a large sum of money but have slightly lower scores than most high-loan amount personal loan lenders allow. SoFi offers a wide range of repayment terms and accepts joint applications. Referral bonus programs and automatic payment discounts could also get you a lower rate.

Est. APR

8.99%–29.49%

Loan amount

$5k–$100k

Min credit score

650

Loan term

2-7 yrs

Origination fee

Optional fee up to 7%

Pros

Mobile app and seven-day-a-week customer service
Loan amounts as high as $100k
Joint applications allowed

Cons

High minimum loan amount
Minimum credit score not disclosed
Optional fees up to 7 percent

Pros

Mobile app and seven-day-a-week customer service
Loan amounts as high as $100k
Joint applications allowed

Cons

High minimum loan amount
Minimum credit score not disclosed
Optional fees up to 7 percent

WHO'S IT FOR:

Borrowers who need larger loan amounts or longer repayment terms and want to take advantage of SoFi's unique member perks.

Borrowers who need larger loan amounts or longer repayment terms and want to take advantage of SoFi's unique member perks.
Established in 2011

Available in all 50 states

Online application
No mandatory fees

Same-day funding

60-second prequalification

Known qualification requirements

Minimum credit score of 680

Be a resident of one of the serviced states

Proof of current employment or income

Fees

Optional origination fee of up to 7%

Time to receive funds

Same day funding available if approved by 7 p.m. ET
Fixed rates from 8.99% APR to 29.99%APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.
Loan amounts range from $5,000–$100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

4.8

Read Bankrate's Expert Discover Review

Overview: Discover charges no origination fee and its starting APR is one of the lowest among lenders we reviewed. These factors make it a good match for good credit borrowers. The lender is also one of very few that offer customer service every day of the week.

Est. APR

7.99%–24.99%

Loan amount

$2.5k–$40k

Min credit score

660

Loan term

3-7 yrs

Origination fee

None

Pros

Option to pay creditors directly
Low fees
Prequalification offered

Cons

Can't be used on a Discover card
No discounts
No joint applications

Pros

Option to pay creditors directly
Low fees
Prequalification offered

Cons

Can't be used on a Discover card
No discounts
No joint applications

WHO'S IT FOR:

Discover personal loans are best for borrowers who want to avoid the 25+ percent maximum rates at most lenders and don't want to pay origination fees.

Discover personal loans are best for borrowers who want to avoid the 25+ percent maximum rates at most lenders and don't want to pay origination fees.
Founded in 1985

Available in 50 states

Online and phone application

No origination fee
7-day-a-week customer service

Quick application and and approval

Prequalification available

Longer terms than many lenders

Known qualification requirements

Minimum income of $25,000

Minimum credit score of 660

U.S. citizen or resident

At least 18 years old

Fees

Possible $39 late payment fee

Time to receive funds

As soon as the next business day

Lowest rates include interest-only repayment discount and a .25% interest rate reduction for automatic payment.

4.6

Read Bankrate's Expert Best Egg Review

Overview: Since 2014, Best Egg has funded over 1 million loans, provided financial tools to consumers and supported local charities. It’s also one of the few lenders to offer secured loans, which may help borrowers qualify and save.

Est. APR

6.99%–35.99%

Loan amount

$2k–$50k

Min credit score

600

Loan term

3-5 yrs

Origination fee

0.99%-9.99%

Pros

Lower rates for loans secured by home fixtures or your vehicle
Low minimum rates for qualified borrowers
Low minimum credit score

Cons

High origination fees
Fewer repayment options
Higher minimum loan amount

Pros

Lower rates for loans secured by home fixtures or your vehicle
Low minimum rates for qualified borrowers
Low minimum credit score

Cons

High origination fees
Fewer repayment options
Higher minimum loan amount

WHO'S IT FOR:

Borrowers with excellent credit who are seeking loan amounts up to $50,000. Home and vehicle owners may also benefit from checking out Best Egg's unique secured loan options.

Borrowers with excellent credit who are seeking loan amounts up to $50,000. Home and vehicle owners may also benefit from checking out Best Egg's unique secured loan options.
Established in 2014

Available in 47 states

Secured loan option

Financial health tools
Direct pay features

Prequalification

Philanthropic partnerships

Known qualification requirements

U.S. citizen or permanent resident

Legal age in state of loan acceptance

Valid address and email and verifiable bank account

Not a resident of Iowa, Vermont, West Virginia or Washington D.C.

Additional requirements on collateral for secured loan
Fees

Origination fee of up to 9.99%
Time to receive funds

One to three business days

*Trustpilot TrustScore as of June 2024. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender. The Best Egg Credit Card is issued exclusively by First Bank & Trust, Member FDIC, Brookings SD pursuant to a license by Visa International. Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. “Best Egg” is a trademark of Best Egg Technologies, LLC. Offers may be sent pursuant to a joint marketing agreement between Cross River Bank, Blue Ridge Bank, N.A. and/or First Bank & Trust and Marlette Marketing, LLC, a subsidiary of Best Egg, Inc. The term, amount, and APR of any loan we offer to you will depend on your credit score, 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, $5,001; and Georgia, $3,001. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 6.99%–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%–9.99% 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 6.99% APR has 36 scheduled monthly payments of $152.83. 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. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL– Operations Manager, Email: crtresolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-282-6353. 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

4.5

Read Bankrate's Expert Achieve Review

Overview: Whether you need money to consolidate credit card debt, make some home improvements or make a large purchase, an Achieve (formerly known as FreedomPlus) personal loan can help you do it. And if you need a little help from a friend to get a lower rate or higher loan amount, Achieve is one of the few lenders that allows both co-signers and co-borrowers.

Est. APR

8.99%–29.99%

Loan amount

$5k–$50k

Min credit score

620

Loan term

2-5 yrs

Origination fee

1.99%-8.99%

Pros

Poor credit debt consolidation options
Fast funding
Debt management and financial health resources

Cons

Not available in every state
High minimum loan amount
Expensive origination fees

Pros

Poor credit debt consolidation options
Fast funding
Debt management and financial health resources

Cons

Not available in every state
High minimum loan amount
Expensive origination fees

WHO'S IT FOR:

Borrowers who need quick cash and have fair-to-excellent credit or a creditworthy cosigner. Achieve is also a good option for borrowers with lower credit scores due to its low maximum APR.

Borrowers who need quick cash and have fair-to-excellent credit or a creditworthy co-signer. Achieve is also a good option for borrowers with lower credit scores due to its low maximum APR.
Established in 2004

Not available in every state

Online application

Prequalification
Customer service offered 7 days a week

No prepayment penalty

Dedicated Achieve loan consultant

Known qualification requirements

Minimum credit score of 620

Proof of income

Proof of employment

Social Security number

Proof of identity
Fees

Origination fee of 1.99% to 6.99%
Time to receive funds

24 to 72 hours after approval

“Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are originated by Cross River Bank, a New Jersey State Chartered Commercial Bank, Equal Housing Lender. Loan applications are subject to credit review, underwriting criteria, and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. For loans $35,000+ must have a minimum 660 credit score. APRs range from 8.99% to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Loan Consultants for Achieve Personal Loans are available Monday-Friday 6 AM to 8 PM AZ time, and Saturday-Sunday 7 AM to 5 PM AZ time.”

4.8