Best Personal Loans

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Quick and Easy. These are the best unsecured personal loan offers for December 2018.

BEST CHOICE
Get Startedon LendingTree’s Secure Site
  • Loan Amounts$1k – $50k
  • APR Range4.79% – 35.99%
  • Credit ImpactNo impact to your credit score for applying

Highlights

  • Click “Get Started” to to compare offers from up to five lenders on LendingTree’s secure site
  • LendingTree matches you with top-rated online personal loans with absolutely no charge to you
  • In business since 1996 with the goal of simplifying the online lending process
  • Personal loans can be used for a many purposes; Terms and Conditions apply, see LendingTree’s site to learn more
  • Select a lender online and have funds deposited into your account in as little as one day with some lenders
  • Compare up to 5 free offers with no obligation or fees
  • Get pre-qualified online with no credit impact

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Get Startedon Even Financial’s Secure Site
  • Loan Amounts$1k – $100k
  • APR Range3.84% – 35.99%
  • Credit ImpactNo impact to your credit score for applying

Highlights

  • Click “Get Started” to to compare find the right loan for you on Even Financial’s secure site
  • Even Financial matches you with top-rated online personal loans with absolutely no charge to you
  • APR from 3.84%
  • Great for borrowers with Poor/Fair/Good/Excellent credit
  • Loan Term: 24-48 months
  • Safe and easy way to compare multiple personal loan offers
  • No impact to your credit score for applying

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Get Startedon LendingClub’s Secure Site
  • Loan Amounts$1k – $40k
  • APR Range6.95% – 35.89%
  • Origination Fee1% – 6%
  • Funding TimeAs little as 3 days
  • Credit Score Needed640
  • Credit ImpactChecking your rate won’t impact your credit score

Highlights

  • Click “Get Started” to apply on LendingClub’s website
  • Apply online in minutes from your phone or computer, select a loan offer, and get your money
  • Low, fixed interest rates with no surprises
  • Flexible repayments terms of 3 to 5 years
  • No application, brokerage, or prepayment fees
  • Simple, easy to understand loan terms
  • LendingClub has 2.5+ million customers with over $25 billion in loans and counting

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Get Startedon Prosper’s Secure Site
  • Loan Amounts$2k – $40k
  • APR Range6.95% – 35.99%
  • Origination Fee2.4% – 5%
  • Funding TimeTypically next day after approval
  • Credit Score Needed640
  • Credit ImpactChecking your rate won’t impact your credit score

Highlights

  • Click “Get Started” to apply on Prpsper’s website
  • Save money with no prepayment penalties
  • Prosper has been in business 12+ years with over $13 billion in funded loans
  • Flexible repayments terms of 3 to 5 years
  • No rate hike or payment increases
  • Simple, easy to understand loan terms
  • Over 840,000 satisfied clients have used Prosper

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Get Startedon Upgrade’s Secure Site
  • Loan Amounts$1k – $50k
  • APR Range6.99% – 35.97%
  • Origination Fee1% to 6%
  • Funding Time1 day after accepting loan offer
  • Credit Score Needed 640
  • Credit ImpactChecking your rate won’t impact your credit score

Highlights

  • Click “Get Started” to apply on Upgrade’s website
  • No prepayment penalties
  • 3 to 5 year repayment terms
  • Very easy application process, takes less than 5 minutes
  • Low fixed rates from a highly reputable online lender
  • Funds are sent directly to your bank account via ACH transfer
  • No obligation to take funds, no harm in applying and checking your APR

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Typical Personal Loan Process

Finding Your Rate

In order to find your personal loan rate, you’ll need to submit some basic information about yourself.

What You’ll Need

You’ll probably have to answer questions about your income and what you’ll use your loan funds for.

Getting Your Funds

The best part about online loans is that funds are directly deposited into your checking account, typically in 1 day.

What Are Personal Loans?

Personal loans are loans, often called “unsecured personal loans,” are loans that are issued to individuals based on their creditworthiness. One of the best things about personal loans is that there is no collateral involved. You don’t have to use your house, car, or any other asset to receive a personal loan.

We spent 200+ hours searching for the best personal loans of 2018, because not all personal loans are made equal. Many shady online lenders have high variable rates and lots of hidden fees. None of the lenders on this page have hidden fees, and all are highly rated and respected.

What Can I use Personal Loans For?

Personal loans can be used for almost anything! Some of the most popular uses include:

  • Credit card debt consolidation
  • Home improvements and renovations
  • Pay for a wedding
  • New boat, RV, or other item that typically doesn’t have financing
  • Medical bills

According to research by Finder, roughly 83.5 million Americans have personal loans, with the most common use being credit card debt consolidation. Typically, credit cards can have APRs above 35%. Personal loans, on the other hand, typically have APRs around 7% to 30%.

Many Americans would rather pay 7% annually to borrow money, and use this borrowed money to pay off their higher interest debts, like credit cards.

Personal Loan Myths

One of the most common misconceptions about personal loans is that they somehow negatively effect your credit score.

For most cases, this is not true. There’s often no impact on your personal credit score to see if you qualify for a personal loan. And once you receive your personal loan funds, and you begin to make timely monthly repayments, your credit score can actually improve.

The only way a loan can harm your credit score is if you fail to make your payments.

What is Options Bro?

Options Bro is an online financial information site dedicated to providing independent, informative, and objective reviews, comparisons, and tutorials on all things finance.

Collectively, we’ve spent hundreds of hours examining the most popular financial products and tools. Bottom line, we simplify and explain the myriad of consumer financial options available today, so you can make smarter financial decisions.

Updated: December 5, 2018

All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.95% to 35.89%*. The origination fee ranges from 1% to 6% of the original principal balance and is deducted from your loan proceeds. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at the time of application. The average origination fee is 5.49% as of Q1 2017. In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,025 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months. Borrower must be a U.S. citizen, permanent resident or be in the United States on a valid long term visa and at least 18 years old. Valid bank account and Social Security number are required. Equal Housing Lender. All loans are subject to credit approval. Based on approximately 60% of borrowers who received offers through LendingClub’s marketing partners between January 1, 2018 to July 20,2018. The time it will take to fund your loan may vary. LendingClub’s physical address is: LendingClub, 595 Market Street, Suite 200, San Francisco, CA 94105.
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