Best personal loans for good credit in November 2021

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

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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.

Summary: good-credit personal loans in 2021

Best personal loans for good credit in November 2021

Best For
APR Range
Min. Credit Score
Loan Amount
High borrowing limits
5.99%–19.63% (with autopay)
Personal loans without any fees
Marcus by Goldman Sachs
6.99%–19.99% (with autopay)
Not specified
Borrowing money from other investors
Borrowers who can qualify for the best rates
2.49%–19.99% (with autopay)
Not specified
Joint loans
Fast funding
Rocket Loans
5.97%–29.99% (with autopay)
Not specified
Borrowers with “okay” credit
Best Egg
A range of repayment terms
Borrowers who want to price shop


2.49%–35.99% (with autopay)
Borrowers who want other factors considered in their applications


Starting at 4.99%
Rate discounts
Citizens Bank
Varies by location
Not specified
Borrowers who want to consolidate credit card debt

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 10.3 percent for a borrower with excellent credit to as high as 32 percent for a borrower with poor credit.

Credit Band Credit Score Range Average personal loan interest rate
Excellent Credit 720–850 10.3%–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%

Details: 12 best personal loans for good credit

  • SoFi: Best for high borrowing limits
  • Marcus by Goldman Sachs: Best for personal loans without any fees
  • LendingClub: Best for borrowing money from other investors
  • LightStream: Best for borrowers who can qualify for the best rates
  • Prosper: Best for joint loans
  • Rocket Loans: Best for fast funding
  • Best Egg: Best for borrowers with "okay" credit
  • Discover: Best for a range of repayment terms
  • Credible: Best for borrowers who want to price shop
  • Earnest: Best for borrowers who want other factors considered in their applications
  • Citizens Bank: Best for rate discounts
  • Payoff: Best for borrowers who want to consolidate credit card debt

What you need to know about loans for good credit

What is a good-credit loan?

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, although lenders may list additional requirements.

What is a good credit score to get a loan?

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.

How to get a good-credit loan

Loans with low APRs and fair terms are attainable if you keep your finances and credit score in good shape. For the best chances at qualifying for a good-credit loan, keep these tips in mind:

  • Shop around with multiple lenders: All lenders use your personal information differently to calculate your APR. They may also have different definitions of "good" credit, so a score of 680 may net you a lower rate with one lender than with another.
  • Apply for preapproval whenever possible: Many lenders give you the option to apply for preapproval online. This process allows you to see if you qualify for a loan with a lender without that lender doing a hard credit check — meaning your credit score won't be hurt in the process.
  • Pay down debt: One of the best ways to improve your credit score in order to get a good-credit loan is to start paying off debt. Having a low debt-to-income (DTI) ratio boosts your credit score, and lenders may also calculate your DTI ratio to determine which APRs and loan terms you qualify for.
  • Check your credit score: Some lenders disclose their minimum credit scores or the average scores of their borrowers, and knowing your credit score can help you determine if a lender is the right fit for you.  You can purchase your credit score from one of the three major credit bureaus — TransUnion, Experian and Equifax — or check with your existing financial institutions to see if any provide scores for free.

How to choose a good-credit lender

As you compare the lenders we’ve outlined in our rankings, there are several factors you should consider. For example:

  • How much you need to borrow: Whether you’re looking to pay for a car repair or a kitchen remodel, make sure the lender offers the loan amount you need. Some offer loans as small as $600, and some offer as much as $100,000.
  • How long you need to repay your loan: Choosing a lender with loan terms as short as one year could help you get out of debt faster, but choosing one that offers terms of five year or longer could help you get low monthly payments.
  • Whether your credit score qualifies you for the lowest APR: The best advertised rates go to borrowers with excellent credit and sufficient income. Unless you fit that profile, you’re unlikely to secure the minimum APR and the loan will cost you more in interest.
  • Whether you can check your rate online before applying: Prequalification uses a soft pull on your credit, which doesn’t hurt your credit. Lenders that offer prequalification will show you the loan rates and terms you might qualify for without requiring a completed application.

Any of the lenders on this page could provide the best personal loan for your needs. However, you should compare all of your options to ensure that you wind up with the right loan amount and the lowest interest rate you can qualify for. Also make sure you check for fees like origination fees, prepayment fees, late fees and application fees.

Using a personal loan calculator also lets you estimate your monthly payment, which can help you figure out how to fit your new loan into your existing monthly budget. The best loans for good credit provide the cash you need at a price you can afford.

How much will it cost to take out a loan?

As soon as you receive funds from your personal loan, you'll enter the repayment period, during which you'll make regular payments that include both the principal (the amount of your loan) and interest (an additional amount calculated based on your APR).

Your APR is determined based on things like your credit score and income. Generally, the higher your credit score, the lower your APR and the less interest you'll pay over the life of your loan.

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.

Can a personal loan help build your credit?

A personal loan may improve your credit score if you manage it responsibly. If you make on-time payments, it can help your credit score in a few ways:

  1. Payment history: Your credit score takes into account how often you make timely payments on credit accounts.
  2. Credit utilization ratio: If you use your personal loan to pay off other types of debt, you may be able to decrease the overall amount of credit you're using, which helps your score.
  3. Credit mix: One way to improve your credit score is to hold a diverse mix of credit types, such as credit cards, auto loans and personal loans.

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 (weekly reports are free through April 2022). 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 not only improve your credit score, but also lower your debt-to-income ratio, which many lenders take into account.
  • Avoid opening new accounts. It's good to have a diverse credit mix, but it's best to avoid opening too many new accounts within a short time frame, as each application will run a hard check on your credit, lowering your score slightly.
  • Don't close old accounts. Credit scoring agencies take a close look at the age of your existing accounts. Even if you have an old credit card that you no longer use, keeping it open could be beneficial for your score.

Additional personal loan resources