Best Unsecured Personal Loans

Unsecured personal loans are loans that are not backed by collateral. Credible is a loan marketplace, and their entire business is built on finding you a loan that fits your exact criteria. Whether you need to borrow a large loan amount, have poor credit, or are struggling with low income, Credible works to find the best lender for you. Credible does not charge any origination fees and offers excellent customer service, competitive rates, and flexible repayment terms.

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Credible offers unsecured personal loans from $600 to $100,000, with rates starting at 4.60%. Credible is not a lender but a loan marketplace connecting you with reputable lenders within minutes. There are no hidden fees and low credit is accepted. To apply for an unsecured personal loan with Credible, simply fill out their easy online application. You’ll be matched with lenders you qualify for, and from there you can choose your loan amount, rate, and lender. If approved, you’ll sign for the loan and may receive funds as soon as the next business day.

Lightstream is a great option for excellent credit borrowers, as the lender charges no origination fee, late fees, or prepayment penalties and offers some of the lowest rates in the industry. Lightstream is also ideal for anyone seeking a large home improvement loan with an extended term. However, the lender doesn’t offer a prequalification option, so you should be confident that you have excellent credit before applying.

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You can borrow between $5,000 and $100,000 from Lightstream and have your money as soon as the same day. Terms range from 24 to 240 months, depending on the type of loan you choose, and APRs range from 3.49% to 19.99%, which includes an Autopay discount. There are no fees on Lightstream loans, including late fees. The lender doesn’t disclose minimum income requirements or a minimum credit score, but you’ll need good or excellent credit to apply. That means you’ll need several years of credit history with a variety of account types and few or no delinquencies. You’ll also need stable and sufficient income.

SoFi is one of the few lenders to offer a formal unemployment protection program along with the option to change your due date once per year. This flexibility can be helpful if you fall on hard times. As a SoFi member, you’ll also get access to free career coaching and financial guidance. What’s more, there are no fees to worry about. But you’ll need a credit score in the high 600’s to be approved.

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You can borrow between $5,000 and $100,000 from SoFi and repay the loan over 24 to 84 months. APRs vary from 6.49% with all discounts to 21.78% and there are no fees to worry about. Funding can happen as quickly as the same day. While SoFi doesn’t disclose minimum income or credit score requirements, several third-party sources in addition to SoFi’s blog mention that a credit score in the high 600’s is typically needed for a personal loan from SoFi.

Upgrade is more welcoming to fair credit borrowers than others on our list, and also offers a joint application option for its no collateral loans. This can help you get a lower rate if you apply with a creditworthy co-borrower. Furthermore, existing rewards checking customers qualify for a big discount.

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Upgrade offers personal unsecured loans in amounts ranging from $1,000 to $50,000 with flexible repayment terms from 24 to 84 months. APRs start at just 5.94% with all discounts but go up to 35.97%. There’s an origination fee of between 2.9% and 8% of the loan amount and a late fee of up to $10. Funds are available the next business day. Upgrade doesn’t specify a minimum credit score or minimum income requirements, but the lender will evaluate your individual income along with your co-borrower’s income should you choose to apply with one. You’ll likely need fair credit to be approved, but you can check your rate without hurting your score.

Oportun reports that they are open to borrowers with all different financial backgrounds, including those who have faced bankruptcy, and you can prequalify without hurting your credit. At the same time, the lender offers a 35.99% rate cap, which is much lower than most no credit check lenders can provide. Small loans are also available, but the maximum borrowing amount is $10,000.

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Oportun offers loans without collateral in amounts ranging from $300 to $10,000. Terms vary by state but range from 12 to 48 months, and APRs vary from 7.99% to 35.99%. There is an origination fee that will depend on your state, and the lender charges a late payment fee and returned check fee. There are no minimum credit score or income requirements, and people with bad credit are invited to apply. Most applicants receive their funding the same day.

If you don’t have sufficient credit history to generate a credit score, Upstart may still consider you eligible for a loan, since the lender uses a variety of information to evaluate you. The minimum credit score required for application is also 300. You can check your rate without hurting your credit, and APRs are capped at 35.89%.

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You can borrow between $1,000 and $50,000 from Upstart and repay the loan in 36 or 60 months. APRs vary depending on the lending partner but are capped at 35.99%. Depending on your creditworthiness, you may also be charged an origination fee of up to 8%. There’s also a late payment fee costing the greater of $15 or 5% of the past due amount. To qualify, you must have a minimum credit score of 300 or insufficient history to generate a score. You also can’t have a debt-to-income ratio of more than 50% (45% in some states), but there are no specific minimum income requirements.

If you want to compare rates from top lenders in one spot, AmOne is our top pick of the loan comparison platforms. You’ll find unsecured loan options for different credit tiers, and you can speak with a U.S.-based support specialist if you need assistance. AmOne has excellent customer service reviews on Trustpilot. However, be aware that you may receive calls from multiple lenders even after you have chosen a loan.

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With AmOne, one simple application gets you access to loan offers from multiple lenders. You can borrow between $1,000 and $50,000 with APRs ranging from 2.49% to 35.99%, depending on the lender. Some lenders on the platform may charge an origination fee or other fees. Terms of up to 72 months are available. AmOne doesn’t specify a minimum credit score, but notes that there are products for borrowers with scores as low as 500. There’s also no minimum income requirement to use the platform.

PenFed is ideal for borrowers who want low rates and the option of in-person support. You don’t need to be a member to apply, but if you choose to accept your loan offer, you’ll need to sign up. However, the process is fast and straightforward. PenFed has excellent customer service reviews and caps rates at 17.99%. However, you’ll likely need good credit or a creditworthy co-borrower to be approved.

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PenFed offers loan amounts between $600 and $50,000 with terms ranging from 12 to 60 months. APRs vary from 5.49% to 17.99%, and there are no origination fees or early payoff penalties. You may be charged a late fee of $29 for each late payment, however. PenFed funds are available within 48 hours after accepting your loan offer. PenFed doesn’t disclose minimum income or credit score requirements, but several sources report that you’ll need good credit to work with the credit union. Applying with a co-borrower may increase your chances of approval.

Marcus by Goldman Sachs offers nine term options so you can customize your monthly payment. Choosing the term that most closely matches the monthly payment you can afford may help save you money on interest when compared to another lender. Furthermore, Marcus offers loans without any fees whatsoever. And if you pay on-time 12 months in a row, you’ll have the option to defer a payment. However, you’ll likely need good credit to be approved, and Marcus doesn’t allow co-signers or co-borrowers.

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Marcus by Goldman Sachs offers loans from $2,000 to $45,000 with no fees of any kind. There are no origination fees, prepayment fees, or even late fees. APRs range from 6.99% to 19.99% and terms range from 36 to 72 months, with nine specific options. Marcus doesn’t have minimum income or credit score requirements, but we don’t recommend applying unless you have good credit. Once you sign and accept your loan offer, it will take one to four business days to receive your funds.

If you’re looking to consolidate high-interest debt, Discover is one of the unsecured lenders that offers direct payment to your creditors. And with free access to your FICO score, you can monitor your progress. Plus, there’s no origination fee or prepayment penalties.

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Discover offers loans between $2,500 and $35,000 with flexible terms ranging from 36 to 84 months. Fixed APRs range from 5.99% to 24.99% and there is no origination fee. You won’t have to worry about prepayment penalties, either, but there is a $39 late payment fee. Discover’s debt consolidation loans can’t be used for educational purposes or to pay off a secured loan or directly pay a Discover credit card. To be eligible for a loan from Discover, you need at least $25,000 in annual income. While Discover doesn’t disclose a minimum credit score, several sources report that you’ll need good credit to be approved.