Finding the Best Personal Loan Companies
Are you looking for a personal loan? Trying to figure out which is the best personal loan company?
Bills.com has researched the leading personal loan companies to help you find a loan that fits your needs. In addition to in-depth articles about each company’s product, we also gathered together information so that you can make side-by-side comparisons about the different personal loan companies.
Not all lenders are the same. Some specialize in excellent credit loans and others in bad credit loans. We have provided you with tables to compare the companies based on credit score, loan amount, and loan rates. In general, lenders offer personal loans for many purposes including debt consolidation, medical bills, weddings, vacations, big-ticket items, and home repairs. However, when comparing companies, check to see if they offer discounts for certain types of loans, especially debt consolidation loans.
The important point to remember is that what is best for you may not be best for someone else. Your goal should be finding a loan with the best terms that advance your financial goals and provide you with affordable payments.
Best Personal Loan Companies - Quick Comparison
|Company||Loan Amount||Minimum Credit Score||Rates (APR)|
|Avant||$2,000 - $35,000||580||9.95% - 35.99%|
|Earnest||$5,000 - $75,000||680||6.99% -18.24%|
|Freediom Plus||$7,500 - $40,000||600||4.99% - 29.99%|
|Marcus||$3,500 - $40,000||660||5.99% - 28.99%|
|SoFi||$5,000 - $100,000||N/A (high)||6.95% - 35.99%|
|OneMain Financial||$1,500 - $30,000||sub-600||16.05% - 35.99% APR|
|Prosper||$2,000 - $40,000||640||6.95% - 35.99%|
|Wells Fargo||$2,000 - $100,000||N/A||5.49% - 22.99%|
Click here for more comparison:
For more information about the personal loan companies read the brief reviews below.
OneMain specializes in loans to borrowers with poor to bad credit. As of December 2018, OneMain Financial offers loans that range from $1,500 - $30,000. Their interest rates vary from 16.05% - 35.99% APR. You can choose between a repayment period of 36, 48 or 60 Months.
OneMain charges an origination fee for their loans, taken out of your loan proceeds before you get them. They offer both unsecured and secured loans (if your credit is too low) so you may be required to offer collateral to qualify.
Avant accepts borrowers with a minimum credit score of 580, making them a good option for borrowers turned away from other lenders due to credit scores.
As of December 2018, they offer loans between $2,000 to $35,000. The minimum loan amount can vary by state. Their interest rates range from 9.95% to 35.99% APR. You can choose between a repayment period from 24 to 60 months. They have an administration fee up to 4.75% of your loan. One advantage of Avant is its fast funding.
Marcus, by Goldman Sachs
Marcus is a personal loan lender owned by Goldman Sachs. They have strict requirements are one of the best personal loan companies for excellent credit borrowers. Borrowers must have a Credit score of 660 or higher.
As of December 2018, Marcus offers loans ranging from $3,500 - $40,000. Interest rates vary from 6.99% - 24.99% APR. You can repay the loan between 36 to 72 months.
Wells Fargo is also a good option if you have excellent credit and want to work through a traditional bank lender. They reserve their best rates for customers who have excellent credit scores, above 760.
As of December 2018, Wells Fargo personal loans range from a minimum loan amount of $3,000 and a maximum of $100,000. Loans are available with interest rates from 7.49% to 24.49%. May come with a customer relationship discount, if you maintain a qualifying Wells Fargo consumer checking account and make automatic payments from a Wells Fargo deposit account.
FreedomPlus is a leading online personal loan lender. FreedomPlus has a simple application process, processes applications quickly, and can deposit funds into your account in as little as one day. The unique discounts they offer make the company attractive, especially if you seeking a debt consolidation loan and agree to have FreedomPlus pay off your creditors directly. While FreedomPlus serves borrowers with the highest credit scores, too, their competitive advantage is in what they offer to borrowers with less than excellent credit and above fair credit.
FreeedomPlus that is mentioned in this article is a member of the Freedom Financial Network. Bills.com is, too, making us sister companies.
Compare Personal Loan Rates
Whatever type of borrower you are, if you are looking for the best personal loan company for your situation, then you need to shop around.
Use the personal loan rate table just below, to see what is available in your state, and with a credit score like yours. Then, speak with more than one lender to compare rate and fees, and also to hear how each company presents your options and answers your questions.
In-depth Reviews of Personal Loan Companies
An Avant loan is a good option if your FICO score is less than 700. Av...
SoFi personal loans have low, competitive rates, no fees, and the bene...
Marcus personal loans, by Goldman Sachs offers unsecured personal loa...
Earnest accepts borrowers for their personal loans who may not meet tr...
OneMain Financial offers personal loans to borrowers with FICO scores ...
LightStream Personal Loans ar aimed at borrowers with excellent credit...
Wells Fargo offers unsecured personal loans, focusing on borrowers wit...