July 2022 Best Personal Loan Rates

0

SoFi

Ideal for low interest rates and customer benefits

6.99–22.23%

The fixed rates of 6.99% APR to 22.23% APR APR reflect the 0.25% automatic payment discount and a 0.25% direct deposit discount. SoFi rate ranges are effective as of 6/15/22 and are subject to change without notice. Not all rates and amounts are available in all states. See personal loan eligibility details. Not all applicants qualify for the lowest rate. The lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates shown above and will depend on a variety of factors including your credit rating, income and other factors. See APR examples and terms. The SoFi 0.25% AutoPay Interest Rate Reduction requires you to agree to make monthly principal and interest payments by automatic monthly debit from a savings or checking account. The benefit will cease and be forfeited during periods when you do not pay by direct debit from a savings or checking account.

$5,000–$100,000

680

Marcus of Goldman Sachs

Marcus of Goldman Sachs

on the Goldman Sachs website

Ideal for Low interest rates and flexible repayment terms

6.99–19.99%

The terms of your loan are unsecured and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documents, including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including the purpose of your loan and our assessment of your creditworthiness. Rates vary based on many factors, such as your creditworthiness (for example, your credit score and credit history) and the length of your loan (for example, 36-month loan rates are generally lower than loan rates). 72 month loans). The maximum amount of your loan may vary depending on the purpose of your loan, your income and your creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms. Receive a 0.25% APR discount when you sign up for AutoPay. This discount will not be applied if AutoPay is not in effect. Once enrolled, more of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See the loan agreement for more details.

$3,500–$40,000

660

600 minimum VantageScore® 3.0 and 660 minimum FICO® 9.0.

light stream

LightStream

Best for Low interest rates for home improvement

4.99–19.99%

Rates shown are with AutoPay. The terms of your loan are unsecured and may vary depending on the purpose of the loan, the duration of the loan, the amount of the loan, the credit history and the method of payment (automatic payment or invoice). Autopay discount is only available when selected prior to loan funding. Rates without automatic payment are 0.50%. superior. To obtain a loan, you must complete an application on LightStream.com, which may affect your credit score. You may need to verify your income, identity, and other information on the application. Example of payment: monthly payments for a loan of $25,000 at 4.98% An APR with a term of 20 years would result in 240 monthly payments of $164.71. Certain additional conditions and limitations apply. Advertised rates and conditions are subject to change without notice. Truist Bank is an equal housing lender. © 2022 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist B anc.

$5,000–$100,000

Loan example: A $20,000 four-year loan with an APR of 13.9% would cost $546 in monthly payments. You would pay $6,208 in total interest on this loan.

660

happy money

Happy Money (formerly Payoff)

on the Happy Money website (formerly Payoff)

Best for Low interest rates for credit card consolidation

5.99–24.99%

This does not constitute a true commitment to lend or an offer of credit. When submitting a loan application, you may be asked to provide additional documentation to enable us to verify your income, assets and financial situation. Your interest rate and the terms you are approved for will be presented to you as part of the online application process. Most applicants will receive a variety of loan offers to choose from, with varying loan amounts and interest rates. Borrower subject to loan origination fees, which are deducted from loan proceeds. Refer to the complete Borrower Agreement for all terms, conditions and requirements.

$5,000–$40,000

600

PenFed Credit Union Personal Loan

PenFed Credit Union Personal Loan

on the secure site of NerdWallet

Ideal for Low interest rates at a credit union

4.99–17.99%

$600–$50,000

Loan Payment Example: A $50,000 personal loan financed at 5.49% APR would equal 60 monthly payments of approximately $954.83 each.

None

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Discover

Discover® Personal Loans

Best for Low interest rates for borrowers with excellent credit

5.99–24.99%

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined after you apply and is based on your application information and your credit history. Your APR will range between 5.99% and 24.99% depending on creditworthiness at the time of application for loan terms of 36 to 84 months. For example, if you get approved for a loan of $15,000 at 6.99% APR for a term of 72 months, you will only pay $256 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information, and the term you select. Not all requests will be approved.

$2,500–$35,000

720

Rocket Loans

Rocket Loans

on the secure site of NerdWallet

Ideal for low interest rates and quick financing

5.97–29.69%

All personal loans are made by Cross River Bank, a New Jersey chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured and fully amortize personal loans. Loan eligibility is not guaranteed. Please see our Disclosures and Licenses page for state required disclosures, licenses and lending restrictions. The borrower must be a US citizen or permanent resident alien of the United States who is at least 18 years old (in Nebraska and Alabama, a borrower must be at least 19 years old). All loan applications are subject to credit review and approval. Loan terms offered depend on your credit profile, amount requested, length of loan requested, credit usage, credit history and other factors. Not all borrowers get the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions and select automatic payment. Rates and conditions may be modified at any time without notice. Please refer to RocketLoans.com and our Terms of Service for additional terms and conditions.

$2,000–$45,000

640

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Reached

Reached

Best for Low interest rates for borrowers with poor credit history

5.42–35.99%

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be eligible for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000). financial information. The loan rate and amount are subject to change depending on the information received in your complete application. This offer can only be accepted by the person identified in this offer, who is old enough to legally enter into a credit extension agreement, a US citizen or permanent resident and current resident of the United States. Duplicate offers are void. Closing of your loan is dependent on your meeting our eligibility criteria, verifying your information, and agreeing to the terms and conditions on the www.upstart.com website. The full range of available rates varies by state. The average 5-year loan offered to all lenders using the Upstart platform will have an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $14,775, including an origination fee of $582. The APR is calculated based on the 5-year rates offered in the last month. There is no down payment or prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. If you accept your loan before 5:00 PM EST (excluding weekends and holidays), you will receive your funds the next business day. Loans used to fund education-related expenses are subject to a 3 business day waiting period between loan acceptance and funding in accordance with federal law.

$1,000–$50,000

None

Truist Bank personal loan

Truist Bank personal loan

on the secure site of NerdWallet

Ideal for Low interest rates at a bank

4.99–15.99%

$3,500–$50,000

650

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USAA personal loan

USAA personal loan

on the secure site of NerdWallet

Best for Low interest rates for the military

7.24–18.26%

This APR includes an automatic payment discount.

$2,500–$100,000

None

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on the secure site of NerdWallet

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