Best Personal Loans

Best Personal Loans

Updated for Oct 21, 2019
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What Are Personal Loans?

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 200+ hours searching for the best personal loans of 2019, 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.


NMLS #1136 †
Get Startedon LendingTree’s Secure Site
  • Loan Amounts$1k – $50k
  • APR Range3.99% – 35.99%
  • Credit ImpactNo impact to your credit score for checking

What is OptionsBro? is an online financial information site dedicated to providing simple tutorials, reviews, and comparisons on all things finance.

Collectively, we’ve spent thousands 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 decisions with ease.

Updated: Oct 21, 2019


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.

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 is not a licensed lender, and does not provide loans to the consumer, this information is not presented here. Rather, 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 is 35.99% APR. No offers on this site require loan repayment within 60 days.