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Updated Jan 21, 2020

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Updated Jan 21, 2020

1
Best Choice
https://credible.com
  • APR: 4.99% - 35.99%
  • Loan Term: 24-84 months
  • Max Loan: $100,000
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Over 1,293 users chose Credible today
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Credible Highlights

  • Click "GET MY RATE" to find your unique personal loan rate on Credible's secure site
  • Personalized rates from up to 11 vetted lenders in 2 minutes, all for free
  • Extremely low APR from 4.99%, among lowest in the industry
  • Great for borrowers with Fair/Good/Excellent credit
  • Outstanding customer service to help with your loan requests
  • No impact to your credit score for applying
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2
https://lendingtree.com
  • APR: 3.99% - 35.99%
  • Loan Term: 3-180 months
  • Max Loan: $50,000
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LendingTree Highlights

  • Click "GET MY RATE" to find your personal loan rate on LendingTree's secure site
  • 3 months to 180 months loan terms
  • A single application to prequalify for most lenders
  • Great for borrowers with Fair/Good/Excellent credit
  • Take control of your financial future
  • No impact to your credit score for getting your rate
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3
https://lendingclub.com
  • APR: 6.95% - 35.89%
  • Loan Term: 36-60 months
  • Max Loan: $40,000
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LendingClub Highlights

  • Click "Get Started" to apply on LendingClub's secure 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
  • 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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4
https://amone.com
  • APR: 3.99% - 35.99%
  • Loan Term: 24-84 months
  • Max Loan: $50,000
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AmOne Highlights

  • Click "GET MY RATE" to find your unique personal loan rate on AmOne's secure site
  • Instantly Matched to Appropriate Solutions
  • Highly Rated Providers Identified & Offered
  • Offered Nationwide Since 1999
  • U.S. Based Live Support
  • Easy & Efficient Process Saves Time
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5
https://badcreditloans.com
  • APR: 5.99% - 35.99%
  • Loan Term: 2-72 months
  • Max Loan: $35,000
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BadCreditLoans Highlights

  • Click "GET MY RATE" find your unique personal loan rate on BadCreditLoans' secure site
  • Safe and secure online process
  • Funds directly deposited, if approved
  • All Credit types Accepted
  • Loans Available for Nearly Any purpose
  • With many lenders/providers offering rates from 5.99% to 35.99%
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6
https://loansunder36.com
  • APR: 5.99% - 35.99%
  • Loan Term: 2-72 months
  • Max Loan: $35,000
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LoansUnder36 Highlights

  • Click "GET MY RATE" find your unique personal loan interest rate on LoansUnder36's secure site
  • LoansUnder36 matches you with top-rated online personal loans with absolutely no charge to you
  • A popular choice if you only need a small loan of $500 to $5,000
  • Great for borrowers with damaged credit
  • Loan Term: 24-84 months
  • No impact to your credit score for applying
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7
https://5kfunds.com
  • APR: 5.99% - 35.99%
  • Loan Term: 2-72 months
  • Max Loan: $35,000
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5kFunds Highlights

  • Click "GET MY RATE" start your personal loan process on 5kFunds secure site and find your APR
  • 5kFunds matches you with top-rated online personal loans with absolutely no charge to you
  • Extremely low APR from 5.99%, among lowest in the industry
  • Great for borrowers with Bad/Poor credit
  • Loan Term: 2-72 months
  • No impact to your credit score for applying
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8
https://signatureloan.com
  • APR: 5.99% - 35.99%
  • Loan Term: 3-72 months
  • Max Loan: $35,000
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SignatureLoan Highlights

  • Click "GET MY RATE" to find your unique personal loan rate on SignatureLoan's secure site
  • Safe and secure online process
  • Funds directly deposited, if approved
  • All Credit types Accepted
  • Loans Available for Nearly Any purpose
  • With many lenders/providers offering rates from 5.99% to 35.99%
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9
https://personalloans.com
  • APR: 5.99% - 35.99%
  • Loan Term: 3-72 months
  • Max Loan: $35,000
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PersonalLoans.com Highlights

  • Click "GET MY RATE" to find your unique personal loan rate on PersonalLoans.com secure site
  • Safe and secure online process
  • Funds directly deposited, if approved
  • Perfect for borrowers with excellent/good/fair credit accepted
  • Loans Available for Nearly Any purpose
  • With many lenders/providers offering rates from 5.99% to 35.99%
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10
https://monevo.us
  • APR: 5.99% - 35.99%
  • Loan Term: 3 - 144 months
  • Max Loan: $100,000
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Monevo Highlights

  • Click "GET MY RATE" to view personalized loan offers Monevo's secure site
  • A multi-award winning personal loan matching service
  • Personalized loan offers in less than 60 seconds
  • Network of lenders offering loan amounts $1,000 - $100,000
  • Funds available as soon as next business day
  • No impact on your credit score to check your personal loan rates
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No Hidden Fees
Won’t Harm Credit Score
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What to Know About Getting a Loan

If you have fair/good/excellent credit, these are the 2 best loan providers. When reviewing loan providers, we looked at the most important categories: fees, customer service, APR, ease-of-use, network of lenders, and more.

1.Credible

  • Best for: No Fees
  • APR: 4.99% to 35.99%
  • Impact to Credit Score: None
  • Application time: 2 minutes

Credible is the simply the best way to get a personal loan in 2020. There are no fees, and Credible offers unparalleled loan customer service via phone and email. Moreover, the entire loan process only takes 2 minutes. If you find a lower personal loan rate, Credible will actually give you up to $200. Terms apply.

Learn more about Credible’s $200 bonus offer or Visit Credible to get a loan.

2. LendingTree

  • Best for: Flexible Loan Terms
  • APR: 5.99% to 35.99%
  • Impact to Credit Score: None
  • Application time: 5 minutes

LendingTree is another top choice for a personal loan in 2020. Just like Credible, LendingTree is completely free to use. The application process is also extremely simple and quick. It’s a great way to find a loan, fast and easy.

You’ll have to answer some basic questions about your credit score and income, but it’s very straightforward. The only downside of LendingTree is that there is no live customer service available via phone and email like there is for Credible.

Visit LendingTree to get a loan.

What Can I use a Personal Loan For?

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

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

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.

Should I Get a Personal Loan?

Personal 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 500+ hours searching for the best personal loans of 2020, 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.

If you need to consolidate debt, finance a purchase or major event like a wedding, or if you just need cash, personal loans are a great option. The typical interest rates for personal loan range from 3.84% to 35.99%. This is significantly lower than the typical APR for a credit card, which is another common form of borrowing.

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.

Summary: Best Loan Companies 2020

Personal Loan Provider Best For
Best for borrowers who value professional customer service, no hidden fees, and low rates
Best choice for those with good/excellent credit who are looking for a low APR loan
Best for loans of $15,000 to $40,000 with no origination fees

Updated: Jan 9, 2020

IMPORTANT LENDINGTREE DISCLOSURE: LendingTree NMLS #1136 is NOT a direct lender. Rates, APRs, Monthly Payment Amounts, Fees, Points, and Origination data shown in the LendingTree LoanExplorer℠, NMLS#1136, rate table are examples only and do not take into consideration taxes or insurance. If you choose an ARM, your payment will likely increase at the stated interval.

LendingClub Disclosure:
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.
For a a representative example of the total cost of the loan, including all applicable fees, please visit the respective lender’s and/or loan marketplace’s site. As OptionsBro.com is not a licensed lender, and does not provide loans to the consumer, this information is not presented here. Rather, OptionsBro.com is an online financial education website, which provides clear and easy-to-understand information about a variety of personal financial topics, like personal loans. Please see the each individual loan market place’s site for specific terms on offers and APR. Some APR is dependent on factors like credit scores, amount of money borrowed, and duration of the loan. The maximum percentage APR for most offers found on OptionsBro.com is 35.99% APR. No offers on this site require loan repayment within 60 days.