Best Personal Loans of 2026
SoFi is our top pick for personal loans because it lets you check your rate with a soft credit inquiry, offers autopay and member rate discounts and publishes an unemployment protection program. PenFed is the strongest alternative for borrowers with good credit who want to avoid origination fees, and Credible is the best place to compare prequalified offers from several lenders at once. Rates, terms and approval are always set by the lender.
Our ranking of the best personal loan options
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#1
SoFi
Best overallOnline bank with a soft-pull rate check, autopay discount, co-borrower option and published unemployment protection.
- Soft-pull rate check before you apply
- Autopay and member rate discounts (check current terms)
- Unemployment Protection Program (check eligibility)
- Co-borrower applications accepted
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#2
PenFed Credit Union
Best for no origination feeFederal credit union with a soft-pull rate check, no origination fee and an autopay discount.
- Soft-pull rate check before you apply
- No origination fee, early payoff fee or balance transfer fee
- Rate discount for autopay set up before funding (check current terms)
- Loans for debt consolidation, home improvement and personal use
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#3
Upgrade
Best for debt consolidationOnline lender with a soft-pull rate check and direct payment to creditors for debt consolidation.
- Soft-pull rate check before you apply
- Option to pay creditors directly for debt consolidation
- Joint applications accepted
- Discounts for autopay, direct payoff and secured options (check current terms)
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#4
Happen Bank (formerly LendingClub)
Best for joint applicationsLendingClub's new name: a bank with a soft-pull rate check, joint applications and direct payment to creditors.
- Soft-pull rate check; hard inquiry only if a loan is issued
- Joint applications accepted
- Direct payment to creditors for balance transfer loans
- Operates as a bank (Happen Bank, N.A.)
Visit site (Happen Bank (formerly LendingClub), opens in a new tab) Read review8.8/10Editorial score -
#5
Achieve Personal Loans
Best for rate discountsOnline lender focused on debt consolidation, with a soft-pull rate check and three ways to lower your rate.
- Soft-pull prequalification
- Discounts for a co-borrower, direct creditor payoff and retirement assets
- Loan consultants available during the process
- No prepayment penalty
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#6
Upstart
Best for limited credit historyLending platform that uses factors beyond your credit score, such as education and employment.
- Soft-pull rate check before you apply
- Underwriting uses factors beyond credit score
- Loans issued by partner banks and credit unions
- Online application and account management
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#7
Credible
Best for comparing offersLoan marketplace, not a lender, that shows prequalified offers from several lenders at once.
- One form shows prequalified offers from multiple lenders
- Soft credit inquiry to see offers
- Side-by-side comparison of offers
- Also compares other loan types (check current options)
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#8
Best Egg
Best for direct creditor paymentOnline lender with a soft-pull rate check, direct creditor payment and secured loan options.
- Soft-pull rate check before you apply
- Direct payment to creditors for debt consolidation
- Secured loan with homeowner discount (check current terms)
- Loans made by Cross River Bank
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#9
Prosper
Best for co-applicantsLong-running online lending marketplace with joint applications and a soft-pull rate check.
- Soft-pull rate check before you apply
- Co-applicant (joint) applications accepted
- Terms of two to six years
- Marketplace funding model
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#10
LendingTree
Best for broad lender comparisonLoan marketplace, not a lender, that compares personal loan offers from many lenders with one form.
- One form to compare offers from many lenders
- Estimate payments without a credit impact, per its site
- Also compares mortgages, auto loans and credit cards
- Free credit score tools with a LendingTree account (check current features)
A personal loan is a fixed-term installment loan, usually unsecured, that you repay in equal monthly payments. The lender you choose matters because two offers for the same amount can differ a lot once you add up the APR, any origination fee and the length of the term. The best lenders show you a personalized rate before you commit, explain their fees plainly and offer help if you hit a rough patch.
We compared ten well-known US options, including two marketplaces, on those points. LightStream, which we previously ranked, now says on its site that it is no longer accepting applications, so it is no longer in our list. Everything below describes how each service works in general. APRs, fees, loan amounts and eligibility rules change and depend on your credit profile and state, so always check your rate and read the current terms on the lender's site before you apply.
Personal Loans compared side by side
Sort by rank, name or score. Tick "Compare" on any two or three providers above to see them side by side.
| Best for | Lender type | Soft-pull rate check | Link | |||
|---|---|---|---|---|---|---|
| #1 | SoFi |
Best overall | Direct lender (bank) | Yes, soft-pull rate check | 9.3 | Visit site (SoFi, opens in a new tab) |
| #2 | PenFed Credit Union |
Best for no origination fee | Direct lender (credit union) | Yes, soft-pull rate check | 9.1 | Visit site (PenFed Credit Union, opens in a new tab) |
| #3 | Upgrade |
Best for debt consolidation | Online lender via partner banks | Yes, soft-pull rate check | 8.9 | Visit site (Upgrade, opens in a new tab) |
| #4 | Happen Bank (formerly LendingClub) |
Best for joint applications | Direct lender (bank) | Yes, soft-pull rate check | 8.8 | Visit site (Happen Bank (formerly LendingClub), opens in a new tab) |
| #5 | Achieve Personal Loans |
Best for rate discounts | Online lender | Yes, soft-pull prequalification | 8.6 | Visit site (Achieve Personal Loans, opens in a new tab) |
| #6 | Upstart | Best for limited credit history | Lending platform via partner banks and credit unions | Yes, soft-pull rate check | 8.4 | Visit site (Upstart, opens in a new tab) |
| #7 | Credible | Best for comparing offers | Marketplace (not a lender) | Yes, soft-pull prequalification across partner lenders | 8.3 | Visit site (Credible, opens in a new tab) |
| #8 | Best Egg |
Best for direct creditor payment | Online lender via partner bank | Yes, soft-pull rate check | 8.2 | Visit site (Best Egg, opens in a new tab) |
| #9 | Prosper |
Best for co-applicants | Online marketplace lender via partner bank | Yes, soft-pull rate check | 8.0 | Visit site (Prosper, opens in a new tab) |
| #10 | LendingTree |
Best for broad lender comparison | Marketplace (not a lender) | Yes, compare offers without a credit impact (per its site) | 7.9 | Visit site (LendingTree, opens in a new tab) |
Top picks by use case
A soft-pull rate check, autopay and member discounts, and a published unemployment protection program.
Read our SoFi reviewA credit union whose site states no origination fee, no early payoff fee and a soft-pull rate check.
Read our PenFed Credit Union reviewLets you send loan funds directly to your creditors, with discounts for doing so, and accepts joint applications.
Read our Upgrade reviewUnderwriting that looks at factors beyond your credit score, such as education and employment.
Read our Upstart reviewHappen Bank (formerly LendingClub) accepts co-borrowers and can pay creditors directly on balance transfer loans.
Read our Happen Bank (formerly LendingClub) reviewA marketplace, not a lender, that shows prequalified offers from several lenders with one soft inquiry.
Read our Credible reviewHow we chose
We score personal loan options on how clearly they explain cost, how easy it is to see a personalized rate without hurting your credit, and how they treat borrowers after the loan is funded. We do not score who offers the lowest rate, because rates depend on your own credit profile and change often. Each option gets a weighted score out of 10 across five criteria, based on our review of its public pages, rate-check flow and published policies.
Does the lender explain APR, origination fees, late fees and prepayment rules clearly before you apply, and show the full cost of an offer in plain terms?
Can you see a personalized rate with a soft credit inquiry before a hard pull, and is it clear when a hard inquiry will happen?
Choice of terms and loan purposes, joint or co-borrower options, autopay discounts, payment date changes and direct payment to creditors for debt consolidation.
Published hardship, forbearance or payment-relief programs, clear complaint channels and responsible-lending messaging.
How clearly the lender explains who it lends to, what it looks at in underwriting and which states it serves.
Buying guide: how to choose
How personal loans work
A personal loan gives you a lump sum that you repay in fixed monthly payments over a set term. Most are unsecured, so the lender relies on your credit profile and income rather than collateral.
The lender sets your APR, which combines the interest rate and certain fees, such as an origination fee. Your rate depends on your credit history, income, debts, the amount you borrow, the term you choose and the state you live in.
Compare APR, not just the interest rate
- APR is the best single number for comparing offers because it includes fees such as origination fees.
- Origination fees are often deducted from the loan, so you may receive less than you borrow. Check the net amount.
- Term length changes the monthly payment and the total interest. A longer term lowers the payment but usually costs more overall.
- Prepayment rules. Many lenders do not charge a penalty for paying early, but check your loan agreement.
Read our guide to comparing personal loan offers.
Check your rate before you apply
Most online lenders let you check your rate with a soft credit inquiry, which does not affect your credit score. A full application usually triggers a hard inquiry, which may.
Checking two or three lenders, or using a marketplace such as Credible or LendingTree, lets you compare real offers before any hard pull. Learn more in our guide to soft vs hard credit checks.
Debt consolidation tips
A consolidation loan only helps if the new APR and fees are lower than what you pay now, and you avoid running up the old balances again. Some lenders, such as Upgrade, Happen Bank (formerly LendingClub), Achieve and Best Egg, offer to pay your creditors directly, which makes the switch cleaner, and some offer a rate discount for it.
Add up the total cost of the new loan, including any fee, and compare it with your current repayment plan before you commit.
Red flags
Be cautious of any lender or website that promises guaranteed approval, asks for an upfront fee before funding, pressures you to decide immediately or asks you to pay with gift cards or wire transfers. Legitimate lenders disclose the APR and fees before you sign. If something feels wrong, stop and check the lender's licensing in your state.
Head-to-head comparisons
SoFi vs PenFed Credit Union
Choose SoFi if you want a wide range of loan amounts and terms, autopay and member discounts and a published unemployment protection program.
ComparisonUpgrade vs Upstart
Choose Upgrade if you are consolidating debt and want funds sent straight to your creditors, or want to apply with a co-borrower.
ComparisonHappen Bank (formerly LendingClub) vs Prosper
Happen Bank (formerly LendingClub) and Prosper both accept joint applications and offer soft-pull rate checks.
ComparisonSoFi vs Upgrade
Choose SoFi if you have established credit and want autopay and member discounts plus published unemployment protection.
Frequently asked questions
What is the best personal loan?
In our editorial ranking, SoFi is the best personal loan option overall because of its soft-pull rate check, autopay and member discounts and published unemployment protection. PenFed is our pick for avoiding origination fees and Credible for comparing offers. The best loan for you is the one with the lowest total cost that you can comfortably repay.
Does checking my rate hurt my credit score?
Checking your rate with most online lenders uses a soft credit inquiry, which does not affect your credit score. Submitting a full application typically triggers a hard inquiry, which may cause a small, temporary dip.
What credit score do I need for a personal loan?
There is no single minimum. Each lender sets its own requirements and also looks at income, debts and credit history. Checking your rate with a soft inquiry is the easiest way to see whether you are likely to get an offer.
What is an origination fee?
An origination fee is a one-time fee some lenders charge for making the loan. It is often deducted from the loan amount, so you receive less than you borrow. It is included in the APR, which is why APR is the best number for comparing offers.
Are Credible and LendingTree lenders?
No. Credible and LendingTree are loan marketplaces that show offers from participating lenders. The lender you choose sets the terms, makes the credit decision and services the loan.
Can I pay off a personal loan early?
Many lenders do not charge a prepayment penalty, but terms vary. Check your loan agreement before you sign so you know whether paying early carries any cost.
Is a personal loan good for debt consolidation?
It can be, if the new loan's APR and fees cost less than your current debts and you avoid adding new balances. Some lenders can pay your creditors directly. Compare the total cost before you decide.
How do you rank personal loans?
We score each option on cost transparency, rate-check experience, borrower flexibility, customer protection and hardship options, and eligibility clarity. We do not rank by advertised rates, which depend on your profile. See the full methodology on our How We Rank page.
Is LightStream still making personal loans?
LightStream's site says it is no longer accepting applications, and existing customers can still sign in to manage their accounts. We have removed it from our ranking. If you were considering LightStream, compare other lenders with simple fee structures, such as PenFed.
Personal Loans guides
All personal loans guidesHow to Compare Personal Loan Offers
Compare personal loan offers the right way: look at APR, origination fees, the amount you actually receive, term length and total cost before you accept.
Personal Loans guideSoft vs Hard Credit Checks: How Personal Loan Prequalification Works
Learn the difference between soft and hard credit checks, how personal loan prequalification works and how to shop for rates without hurting your credit.
Personal Loans guideWhat Credit Score Do You Need for a Personal Loan?
There is no single minimum credit score for a personal loan. Learn how lenders set their own requirements, what else they look at and how to check your odds.
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