Ultimate Guide to the Best Personal Loans for September 2026

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Our Top Picks for the Best Personal Loan Companies of September 2026

The companies listed below are organized alphabetically.

• BestEgg – Best for Quick Loans
• Credible – Best Marketplace
• LendingTree – Best Marketplace Runner-Up
• LightStream – Best Variety of Loan Options
• PenFed – Best Credit Union APR
• Prosper – Best Peer-to-Peer Lender
• SoFi® – Best Online Lender
• U.S. Bank – Best Bank
• Upstart – Best for Low Credit Scores

*Rates and APYs are subject to change. All information provided here is accurate as of September 1st, 2026.

Best Personal Loan Reviews

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Pros

• Competitive APR range
• Funding in as few as 24 hours
• Fixed rates with predictable payments
• No prepayment penalties
• Homeowners get a rate discount of up to 20%
• Very high Trustpilot ratings

Cons

• Origination fee applies (up to 9.99%, varies by term)
• Best rates typically require higher credit/income
• Not available in all states
• Below average customer satisfaction, according to JD Power.

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HIGHLIGHTS

Lengths

36 to 60 months

Loan Amounts

$2,000 – $50,000

APR

6.99% – 35.99%

Minimum Credit Score Required

640

Origination Fee

0.99% – 9.99% (deducted from loan proceeds)

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Why we chose it: Best Egg offers competitive unsecured loan rates and fast funding. Its fixed-rate loans are suitable for debt consolidation, home improvement and other major expenses. The origination fee is deducted from your loan amount, which is important to factor in from the start. Many borrowers can receive funds within 24 hours, placing Best Egg among the faster large-scale online lenders.

Another reason Best Egg stands out is its balance between accessibility and pricing. While the most competitive rates are typically reserved for borrowers with strong credit and stable income, Best Egg still serves a wide range of credit profiles, including some fair-credit borrowers. You can check your rate with a soft credit inquiry to review potential loan offers without affecting your credit score. This transparency helps compare options confidently before committing.

Best Egg also has a lot of happy customers. Its Trustpilot rating is 4.7 out of 5 stars (on almost 13,000 reviews), and its Better Business Bureau reviews are even better (4.85 out of 5).

Finally, Best Egg’s clear fee structure and borrower-friendly policies make it a dependable choice for long-term planning. It also does not impose prepayment penalties, giving borrowers the flexibility to pay off their loan early and reduce interest costs. Overall, Best Egg is well-suited for borrowers who want a reliable online lender with competitive rates, fast funding and predictable repayment terms.

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Pros

• Compare rates from different lenders
• Prequalify with a soft credit pull
• Co-signers allowed
• Best Rate Guarantee incentive of $200
• Very high Trustpilot ratings

Cons

• Not a direct lender or loan servicer
• Loan approval requirements vary by lender

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HIGHLIGHTS

Term Lengths

1 – 10 years

Loan Amounts

$1,000 to $250,000

APR

6.24% APR – 35.99% APR

Minimum Credit Score Required

Varies by lender (but 580 is the lowest noted requirement)

Origination Fee

Varies by lender

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Why we chose it: Credible is an excellent option for borrowers who want to compare multiple quotes from top-rated personal loan lenders, each offering competitive rates.

Credible’s lending platform lets you compare quotes from several different lenders in as little as two minutes — without making a dent in your credit score. Filter by loan amount, credit score range, and APR. The company features an excellent network of reputable lenders, including SoFi®, LightStream and LendingClub. It also boasts 4.8 stars out of 5 on Trustpilot. A whopping 88% of its nearly 10,000 reviews are 5 stars.

Additionally, Credible offers a $200 Best Rate Guarantee incentive. If you are offered a personal loan at a lower rate from another company within eight days of receiving a prequalified personal loan rate from Credible, the company will give you a $200 gift card. Note that you must submit proof to Credible within seven days of closing on the loan from the competing lender.

The company welcomes applicants with a variety of credit histories, but applicants with excellent credit histories tend to see more loan offers, more flexible repayment terms and lower interest rates. Credible also offers tools to check how prequalification rates change when adding different co-signers.

Read our full review of Credible personal loans >>

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Pros

• Compare quotes from up to five lenders
• Transparent lender profiles that include eligibility requirements
• Free credit and debt analysis tool
• High Trustpilot ratings
• Small loan amounts available

Cons

• Prepayment penalties may apply
• Origination fees may apply

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HIGHLIGHTS

Term Lengths

1 – 7 years

Loan Amounts

$600 – $100,000

APR

5.96% – 35.99%

Minimum credit score required

Varies by lender (but 600 is the lowest noted requirement)

Origination Fee

Varies by lender

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Why we chose it: LendingTree is our best personal loans marketplace runner-up because it offers access to more than 300 lenders who provide loans for a wide range of credit situations.

Like Credible, LendingTree is an online marketplace that connects users to reputable personal loan lenders. Within minutes, you can receive multiple offers from well-known companies such as Best Egg, LendingClub and PenFed Credit Union (two of which are on this best-of list).

LendingTree’s user-friendly website offers transparent details on its lenders’ current starting annual percentage rates, along with comprehensive information on loan terms, amounts, and minimum credit score requirements. Generally, the minimum credit score required is around 600.

Another plus for LendingTree is its personal loan payment calculator, which you can use to help estimate monthly payments based on loan term, estimated interest rate and loan amount. However, LendingTree didn’t secure the top position as its maximum loan amount is lower than Credible’s (though its minimum is lower, which could make this the better choice if you only need a small amount.)

Read our full review of LendingTree personal loans >>

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Pros

• No origination fees or late payment fees
• No prepayment penalties
• Online application
• Co-applicants allowed
• Same-day funding available
• Above-average customer satisfaction, according to JD Power

Cons

• Requires good-to-excellent credit
• The initial application involves a hard credit check
• $5,000 minimum loan amount
• No refinancing option for LightStream loans

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HIGHLIGHTS

Term Lengths

2 – 20 years

Loan amounts

$5,000 to $100,000

APR

7.24% – 25.39%

Minimum credit score required

670

Origination Fee

None

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Why we chose it: LightStream stands out for offering personal loans with no origination fee, no prepayment penalties and no late payment fees.

LightStream‘s fee structure is borrower-friendly — no origination fees, late fees or prepayment penalties. However, it’s important to note that loan approval is reserved for individuals with good to excellent credit. Still, there’s no hard-and-fast credit score range for who this applies to. In fact, the lender says “Given the unique nature of each individual’s credit profile, we believe there is no single definition for ‘excellent credit’.” In addition to credit score, Lightstream’s evaluation process also considers debt-to-income ratio, payment history and assets as key factors.

LightStream offers more (and longer) loan payment options than most personal loan companies. Loan repayment terms range from two to 20 years. Additionally, you can receive your funds the same day, so long as you complete all of the necessary paperwork by 2:30 p.m. EST on a banking business day.

As part of its Rate Beat program, LightStream offers a 0.10% discount if you’re offered a lower APR by a competing loan lender (if approved for the same loan options offered by LightStream). One thing to note: If you don’t set up autopay, expect an interest rate 0.50% higher.

Read our full review of LightStream personal loans >>

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Pros

• No origination fees
• No prepayment penalties
• Physical branches nationwide
• Above-average customer satisfaction, according to JD Power

Cons

• Membership fee
• Low maximum loan amount

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HIGHLIGHTS

Term Lengths

Up to 5 years

Loan Amounts

Up to $50,000

APR

6.09% – 17.99%

Minimum Credit Score Required

Not disclosed

Origination Fee

None

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Why we chose it: PenFed offers a competitive starting APR and charges no origination fees. The credit union also offers brick-and-mortar locations across the U.S. and Puerto Rico for those who prefer in-person service. It’s also one of the highest-rated lenders in terms of customer satisfaction, according to the JD Power 2026 Consumer Lending Satisfaction Study.

PenFed Credit Union’s personal loans can be used for any purpose, including home improvement projects and debt consolidation. The credit union offers a reasonable starting APR when compared to other personal loan companies. Additionally, PenFed doesn’t charge an origination fee or prepayment penalty.

You can see several loan offers through PenFed’s personal loan prequalification application, which won’t impact your credit score.

However, if you choose to accept a loan offer, a PenFed membership is required. The credit union makes the membership process easy by opening a PenFed savings account in your name with a $5 deposit, which is added to your total loan amount. Loan funding typically occurs within one to two business days of completing your personal loan paperwork.

Read our full review of PenFed personal loans >>

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Pros

• Suggested credit score minimum of 600
• Co-signers allowed
• Check your rate with a soft credit inquiry
• Next-day funding possible
• No prepayment penalties

Cons

• Charges origination fee
• Charges late fees for missed payments
• No discount for automatic payments
• Below-average customer satisfaction, according to JD Power
• Higher minimum APR than others on this list
• Low maximum loan amount

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HIGHLIGHTS

Term Lengths

2 – 6 years

Loan Amounts

$2,000 – $50,000

APR

8.99% – 35.99%

Minimum Credit Score Required

600

Origination Fee

1% – 9.99%

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Why we chose it: Prosper is our pick for the best peer-to-peer lender for personal loans because of its competitive APR and fast funding.

Prosper is a peer-to-peer lending marketplace that connects borrowers with personal loans funded by investors. Borrowers can access loans ranging from $2,000 to $50,000 with terms of two to six years. Upon approval, funds could be available via direct deposit within one business day.

Check your rate using Prosper’s personal loan calculator, which includes different loan types, such as debt consolidation, home improvement and business. A credit check isn’t required until you accept an offer and formally apply.

Note that late payments result in fees of $15 or 5% of the unpaid monthly payment (whichever is greater), and insufficient funds or returned payments incur a $15 charge. There is also a 1% to 9.99% origination fee, as well as prepayment fees, check payment fees, insufficient fund fees, and more.

Read our full review of Prosper personal loans >>

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Pros

• No origination fee for qualified borrowers
• No late payment fees
• Same-day funding possible
• Above-average customer satisfaction, according to JD Power
• Rate discount for some existing customers and returning borrowers

Cons

• Minimum to borrow is $5,000
• Good to excellent credit strongly recommended

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HIGHLIGHTS

Term Lengths

2 – 7 years

Loan Amounts

$5,000 – $100,000

APR

6.99%-35.49% APR with all discounts

Minimum Credit Score Required

610

Origination Fee

None

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Why we chose it: SoFi offers an easy online application process, a variety of loan amounts and repayment terms and same-day funding.

SoFi offers unsecured personal loans of up to $100,000, one of the highest loan amounts among our best personal loan picks. However, its lowest loan amount is $5,000, so there are no small loans available through SoFi.

While good to excellent credit is ideal, SoFi also considers alternative credit information, including a borrower’s free cash flow, professional history and track record of financial responsibility, when evaluating loan applications. If you don’t meet SoFi’s requirements, you can add a co-borrower. However, adding a co-borrower will extend the loan review process by one to two weeks.

You can check potential rates in less than a minute via SoFi’s online application. This process doesn’t affect your credit score. If you accept a loan offer, you could get funded the same day. According to company data, this is typical for more than 80% of borrowers.

An added bonus: If you’re using your SoFi personal loan to consolidate credit card debt, you’re in luck. The lender offers Direct Pay and will pay off your credit card bill for you — so you don’t have to.

Read our full review of SoFi personal loans >>

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Pros

• No origination fees or prepayment penalty
• Online loan application
• Above-average customer satisfaction, according to JD Power

Cons

• Very low loan maximum (especially for non-current U.S Bank customers)
• Much higher starting APRs than others on this list
• Up to four days for funding

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HIGHLIGHTS

Term Lengths

1 – 7 years for current U.S. Bank customers, 1 – 5 years for non-customers

Loan Amounts

$1,000- $50,000 ($25,000 if you’re not a current U.S. Bank customer) / $100 for Simple Loans

APR

9.24% – 24.99%

Minimum Credit Score Required

Not disclosed

Origination Fee

None

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Why we chose it: U.S. Bank offers several loan types, including personal and home improvement loans, as well as lines of credit for various purposes.

The bank’s Simple Loan, available exclusively to U.S. Bank checking account holders, ranges from $100 to $1,000 and is ideal for short-term or emergency expenses. The loan carries a fixed monthly fee of $6 for every $100 borrowed. Additionally, U.S. Bank doesn’t charge fees for missed payments on Simple Loans.

Note that if you do not have a bank account with U.S. Bank, you will be subject to a lower personal loan limit of $25,000. Current customers can borrow up to $50,000. The bank’s Trustpilot ratings are also worrisome. A whopping 91% of its over 1,600 reviews give the institution just 1 star.

Read our full review of U.S. Bank personal loans >>

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Pros

• Considers alternative credit data, such as education and employment
• No prepayment penalties
• Next-day funding possible
• Near-perfect Trustpilot rating

Cons

• Offers only two repayment term options
• Additional fee for paper statements
• Origination fee could be up to 5% of total loan amount
• Not a direct lender
• Below-average customer satisfaction, according to JD Power

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HIGHLIGHTS

Term Lengths

3 or 5 years

Loan Amounts

$1,000 to $75,000

APR

6.3% – 35.99%

Minimum Credit Score Required

Varies by lender; alternative credit data considered

Origination Fee

0% – 12%

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Why we chose it: Upstart gives borrowers with poor credit access to personal loans through its AI-powered loan application. This innovative approach considers alternative information, such as job history, education and field of study, to assess the individual’s repayment capability.

Furthermore, individuals who are currently unemployed may apply for a loan, so long as they’ve received an employment offer with a start date falling within six months of the loan application.

You can check your rate before you apply for a loan with a soft credit pull. However, like with all personal loan lenders, rates and loan terms for poor credit borrowers are less favorable than those offered to borrowers with excellent credit.

Upstart has extremely high reviews from customers. On Trustpilot, the company has 4.9 out of 5 stars on over 70,000 reviews.

Read our full review of Upstart personal loans >>

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Personal Loans Guide

Personal loans serve various purposes and offer attractive features such as flexible terms and low interest rates. Our guide outlines everything you need to know, including how they work and what qualifications you need to get a personal loan.

What is a personal loan?

Personal loans are installment loans that typically have fixed interest rates and repayment terms of 12 to 84 months (though some may extend longer). These loans vary in amount, available in smaller sums starting at $100 and larger sums up to $250,000.

A personal loan can serve many purposes, including debt consolidation, funding home improvement projects, covering medical bills or financing large purchases, events or vacations. However, it’s important to note that most personal loans cannot be used to pay for higher education.

How do personal loans work?

You can request personal loans from banks, credit unions or other financial institutions.

Lenders will consider various factors when evaluating your application. These include:

• Debt-to-Income ratio (DTI) – DTI is calculated by dividing your monthly debt obligations (such as mortgage payments, credit card debts and student loans) by your total monthly income. This shows the portion of your income used to repay existing debts, indicating whether you can afford a new loan.
  

• Credit score – Most lenders set a minimum credit score requirement of 660, but some consider additional factors when determining your creditworthiness. Before you apply for a loan, be sure to check your credit report at all three major credit bureaus (Experian, Equifax, and TransUnion).

• Credit card utilization ratio – Banks will review how much of your available credit you’re currently using. Most lenders favor a credit utilization ratio below 30%.

Most personal loans have fixed rates and are processed quickly – once approved, you could have money deposited into your bank account within 24 to 48 hours.

Types of personal loans

There are two basic types of personal loans: secured and unsecured.

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Secured loans	Unsecured loans
Secured loans require collateral, which is a guarantee of payment in the form of an asset you own such as your house, car, stocks and bonds or a certificate of deposit (CD) account. If you default on these loans, the lender can sell these assets and use them to pay off the debt.	Unsecured personal loans don’t require collateral, and therefore, won’t lead to foreclosure or loss of assets for failure to pay. However, these loans usually carry higher interest rates, and defaulting will still significantly impact your credit score. Most personal loans are unsecured loans. They may also be harder to qualify for.

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How to get a personal loan

Regardless of whether you want to get your loan from a traditional bank, a credit union, an online lender or P2P platform, there are steps you’ll have to follow to get your loan.

• Do the math – Take a hard look at your finances. Can you afford the new loan payment? Some banks offer fast, online prequalification with a soft credit pull so you can check potential loan terms. You can also use an online personal loan calculator to get an idea of what you’ll have to pay every month for the loan.

• Check your credit score – Personal loan companies run a credit check to determine your creditworthiness and interest rate. A credit score that falls in the good to excellent range will increase your likelihood of approval and eligibility for the lowest rates.

• Evaluate and compare lenders – Compare lender loan offerings, fees, services and benefits to find out which best fits your needs and wants. Don’t forget to look at customer reviews as well to get a sense of what other borrowers have found helpful or inconvenient.

• Apply and provide documents – Required documents typically include identification (driver’s license, passport or Social Security card), a utility bill to verify your address, employment information and a bank statement or tax return as proof of income.

• Review the loan terms – Be sure to check for additional fees, such as an origination fee or prepayment penalty.

• Start making payments – We recommend setting up automatic payments to avoid penalties or fees most lenders charge for missed payments. You also may get a rate discount for setting up autopay.

Best place to get a personal loan

You can get personal loans from banks, credit unions or online and peer-to-peer lenders. It’s important to only apply to reputable lenders, since you’ll have to provide your personally identifiable information on your application, including your Social Security number and address.

Banks

Brick-and-mortar banks are ideal if you prefer in-person customer service. However, as banking becomes ever more digital, most brick-and-mortar banks are now able to offer you the best of both worlds. Note that some traditional banks may charge higher fees and penalties than online lenders and credit unions.

Online Lenders

Online lenders offer convenience and speed. You can apply and receive your money online from anywhere (we suggest using a secure Wi-Fi connection). Another perk: Some pass on their overhead cost savings to borrowers and are more likely to offer low-interest personal loans with fewer fees. Additionally, some online lenders use alternative credit data, which may be helpful for borrowers with less-than-perfect credit.

Credit Unions

Unlike traditional banks, credit unions are nonprofit financial institutions. Borrowers must become members, but this can offer some benefits, such as access to higher interest rates on savings accounts and CDs and APR discounts on personal loans. Credit union accounts are insured by the National Credit Union Administration (NCUA), which caps credit union loan interest rates at 18% until September 2027.

Peer-to-Peer

A peer-to-peer (P2P) lender is an online lender that connects borrowers to funding from individual investors and companies. The lender serves only as a facilitator of the loan. This type of loan gives people with low credit scores or limited credit history a greater chance of approval. However, some P2P lenders charge additional fees and higher personal loan interest rates.

How to compare personal loans

When comparing personal loans, consider these important factors:

• Annual percentage rate: The APR on a personal loan reflects the interest rate plus any fees, such as an origination fee, that the lender charges. Some lenders offer rate discounts for automatic payments or for opening a bank account and setting up direct deposits.

• Loan repayment term: Longer term lengths mean lower monthly payments, but you pay more in interest overall. Shorter terms have higher monthly payments and less interest accrual.

• Monthly payment: Consider the amount and frequency (weekly or monthly).

• Fees: Look at the fine print for loan origination fees, late fees, and a fee for paying your loan in full before the loan term expires (this is called a prepayment penalty).

• Funding time: Some personal loan companies offer next-day funding, while others may take up to a week to disburse funds.

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Best Personal Loans FAQs

Is a personal loan cheaper than a credit card?

In many cases, yes. According to the Federal Reserve, the average APR on a 24-month personal loan was 11.86% in May 2026, compared with 22.15% for credit card accounts that were charged interest. That difference helps explain why personal loans are commonly used to consolidate credit card debt. The savings aren’t guaranteed, though. Borrowers with fair or poor credit may be offered rates close to 35.99%, which can wipe out much of the cost advantage.

Does applying for a personal loan hurt your credit score?

Simply checking your rate usually won’t affect your credit, but submitting a full application can. Many lenders and marketplaces on this list — including Best Egg, Credible, Prosper, SoFi and Upstart — offer prequalification using a soft credit inquiry, which doesn’t lower your score. A formal application generally requires a hard inquiry, which may reduce most FICO Scores by fewer than five points. The inquiry can remain on your credit report for two years, although its effect on your score typically lasts about one year.

If you’re shopping around, try to submit your applications within a relatively short period. FICO generally treats multiple loan inquiries made within a 14-day window under older scoring models, or a 45-day window under newer ones, as a single inquiry for scoring purposes. One notable exception among these lenders is LightStream, which performs a hard credit check when you apply.

What is an origination fee?

An origination fee is a charge a lender may collect for processing and issuing your loan. It usually ranges from 1% to 10% of the amount borrowed and is often deducted before the loan proceeds are deposited into your account.

For example, a 6.95% origination fee on a $16,000 loan would cost about $1,112, leaving you with roughly $14,888 in proceeds. Because this fee is included when calculating APR, comparing APRs gives you a better picture of the loan’s total cost than looking at the interest rate alone. LightStream, PenFed, SoFi for qualified borrowers and U.S. Bank are among the picks here that don’t charge an origination fee.

Can you get a personal loan with bad credit?

Yes, but borrowing will usually be more expensive. Although many lenders prefer applicants with credit scores around 660 or higher, some options accept lower scores. Credible’s marketplace starts at a 550 FICO Score, Prosper at 600 and SoFi at 610, while Upstart also considers factors such as education and employment history instead of relying solely on credit scores.

The downside is that borrowers with weaker credit tend to receive higher APRs, sometimes approaching 35.99%, and may also face origination fees of up to 12%. Prequalifying can help you see the rate and terms you’re likely to receive before you formally apply.

What is a good interest rate for a personal loan?

A rate below the current market average is generally considered competitive. The Federal Reserve reported an average APR of 11.86% for 24-month personal loans in May 2026, so an offer below that level would compare favorably with the broader market.

The lowest advertised APRs among our picks range from 5.74% with Credible to 9.24% with U.S. Bank, but those rates are typically available only to borrowers with excellent credit who meet additional requirements, such as choosing a shorter repayment term or enrolling in autopay. Applicants with fair or poor credit may instead see rates ranging from the 20% range up to 35.99%.

How are personal loan rates determined?

Your credit score is one of the biggest factors lenders consider, but it’s not the only one. They may also look at your income, debt-to-income ratio, employment history, loan amount and repayment term. In general, borrowing a smaller amount or choosing a shorter repayment period may help you qualify for a lower rate.

Discounts can also affect what you pay. SoFi, for example, offers a 0.25 percentage-point autopay discount as well as an additional 0.25 percentage-point discount for members, while LightStream charges 0.50 percentage points more if you don’t use autopay. Because lenders weigh these factors differently, it can make sense to prequalify with several of them before choosing an offer. Soft-pull prequalification won’t affect your credit score.

Can you have a cosigner on a personal loan?

Many lenders allow it, although the exact arrangement and terminology vary. Credible and Prosper allow cosigners, LightStream permits co-applicants, and SoFi allows co-borrowers.

A cosigner agrees to repay the debt if you don’t, but generally doesn’t receive any of the loan proceeds. A co-borrower, by contrast, shares both responsibility for the debt and access to the funds. Adding someone with strong credit may improve your chances of approval and could help you qualify for a better rate. Keep in mind that it may also slow down the application process. SoFi, for example, says adding a co-borrower can extend its review by one to two weeks.

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How We Found the Best Personal Loans

Our methodology to find the best personal loans included an in-depth evaluation of 40 banks, credit unions, marketplaces and peer-to-peer lenders, taking into account the following:

• Loan rates and fees – We chose banks that offered the most affordable loans, that is, the lowest interest rates and fees. We also evaluated which banks offered the most benefits and unique offers.

• Loan term flexibility – We preferred banks that offered customers multiple term options and ways to pay.

• Customer satisfaction – We evaluated how banks ranked in J.D. Power’s Customer Satisfaction surveys and Trustpilot reviews and checked any complaints filed with the Better Business Bureau (BBB).

• Regulatory compliance – We checked the Consumer Financial Protection Bureau (CFPB) database and the Federal Trade Commission (FTC) for complaints and reports.

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