11
Best Online Personal Loans Of 2026
Compare the Best Online Personal Loans
| COMPANY | FORBES ADVISOR RATING | MINIMUM CREDIT SCORE | CURRENT APR RANGE | LEARN MORE |
|---|---|---|---|---|
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580
|
7.74% to 35.99%
|
Via Credible.com’s Website
| |
|
|
700
|
6.49% to 24.89%
|
Via Credible.com’s Website
| |
|
|
Does not disclose
|
6.99% to 35.49%* with all discounts
|
Via Credible.com’s Website
| |
|
|
600
|
5.96% to 35.99%
|
Via Credible.com’s Website
| |
|
|
640
|
7.95% to 29.99%
|
Compare rates from participating lenders via Forbes Advisor
| |
|
Not disclosed
|
8.99% to 17.99%
|
Via MoneyLion’s Website
| |
|
680
|
8.74% to 24.99%
|
Via MoneyLion’s Website
|
Best Online Personal Loans: A Closer Look
Best for Poor Credit
Upgrade
Loan amounts
$1,000 to $50,000
APR range
7.74% to 35.99%
Minimum Credit Score
580
$1,000 to $50,000
7.74% to 35.99%
580
Upgrade is a personal loan lender that makes funding available to borrowers with bad credit.
Why We Like It
Upgrade’s minimum required credit score of 580 is lower than many other lenders. Upgrade also offers both secured and unsecured personal loans.
What We Don’t Like
Upgrade personal loans can be costly. Origination fees are between 1.85% and 9.99% of your loan amount, and the maximum annual percentage rate (APR) is 35.99%.
Who It’s Best For
Upgrade’s personal loans are best for borrowers with bad credit who need a $1,000 to $50,000 loan.
- Direct payment to creditors streamlines the consolidation process
- 24/7 live chat customer support available
- Offers both co-signer and co-borrower options
- Charges origination fees on consolidation loans
- High maximum loan APR ( 35.99%)
- Average 3-day funding timeline
Lender Details
Eligibility
- Minimum credit score: 580
- Co-signers/co-borrowers: Accepted
Funding Speed
Funding may occur within one business day of clearing verification.
Best for Competitive Rates
LightStream
Loan amounts
$5,000 to $100,000
APR range
6.49% to 24.89%
with autopay
Minimum Credit Score
700
$5,000 to $100,000
6.49% to 24.89%
with autopay
700
LightStream’s lowest advertised interest rates beat most competitors, but the best rates are reserved for highly qualified applicants.
Why We Like It
Interest rates on LightStream personal loans are as low as 6.49%. It also offers a rate beat of 0.10 percentage points if another lender offers you a lower rate.
What We Don’t Like
To find out if you qualify for LightStream’s low rates, you’ll have to submit a full application and undergo a hard credit check as the lender doesn’t allow applicants to prequalify.
Who It’s Best For
LightStream personal loans are best for borrowers with good credit and steady income who can qualify for the lender’s lowest rates.
- Does not charge origination, late payment or prepayment fees
- Lower maximum APR (capped at 24.89%)
- Same-day funding is possible
- Offers consolidation loan amounts of up to $100,000
- Higher minimum loan amount ($5,000)
- No option for prequalification
- No option for direct payments to creditors
- No mobile app
Lender Details
Eligibility
- Minimum credit score: 700
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Same-day funding may be available if you sign documents, provide a bank account and complete the loan verification process before 2:30 p.m. ET.
Best for Large Amounts
SoFi®
Loan amounts
$5,000 to $100,000
APR range
6.99% to 35.49%*
with all discounts
Minimum Credit Score
Does not disclose
$5,000 to $100,000
6.99% to 35.49%*
with all discounts
Does not disclose
SoFi offers some of the largest personal loan amounts and allows borrowers to prequalify online.
Why We Like It
SoFi’s personal loans range from $5,000 to $100,000. The lender offers repayment terms between two to seven years and charges no required fees.
What We Don’t Like
SoFi applicants need a minimum credit score of Does not disclose to qualify, which is higher than many other lenders.
Who It’s Best For
SoFi’s personal loans are best for applicants with good credit who need a large personal loan.
- Offers comprehensive member benefits and perks
- Does not charge origination, late payment or prepayment fees
- Offers direct payment to creditors
- Loan amounts of up to $100,000
- Higher minimum loan amount ($5,000)
- Longer average funding time (4 days)
- High maximum loan APR ( 35.49%*)
- Live chat is limited to business hours
Lender Details
Eligibility
- Minimum credit score: Does not disclose
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Funds should generally be available within a few days after signing the loan agreement.
Disclosures
*Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 06/03/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
*Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 06/03/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Best for Debt Consolidation
LendingClub
Loan amounts
$1,000 to $60,000
APR range
5.96% to 35.99%
Minimum Credit Score
600
$1,000 to $60,000
5.96% to 35.99%
600
LendingClub offers a wide-range of financial services, making it a good choice if you want to consolidate your debt with a full-service lender.
Why We Like It
LendingClub sends payment directly to creditors so borrowers don’t have to. The lender also consolidates all types of debt.
What We Don’t Like
LendingClub’s origination fees can be as high as 0% to 8%, which can reduce the total borrowed amount.
Who It’s Best For
LendingClub’s personal loans are best for borrowers who want their creditors paid directly with a debt consolidation loan.
- Low minimum APR compared to the alternatives ( 5.96%)
- Offers direct payment to creditors
- Offers a co-borrower option
- Live chat support is available
- Charges origination fees
- Higher maximum APR ( 35.99%)
- Lower maximum loan amount ( up to $60,000)
- No autopay discount available
Lender Details
Eligibility
- Minimum credit score: 600
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Funding may occur within 24 hours.
Best for Credit Card Debt Consolidation
Happy Money
Minimum Credit Score
640
APR range
7.95% to 29.99%
Loan amounts
$5,000 to $50,000
640
7.95% to 29.99%
$5,000 to $50,000
Happy Money’s loans are intended to help borrowers consolidate high-interest credit card debt.
Why We Like It
Happy Money sends payments directly to creditors and has a maximum annual percentage rate (APR) of 29.99%.
What We Don’t Like
Borrowing from Happy Money can become costly due to its origination fee of 0.25% to 10%, and its loans aren’t available in Massachusetts or Nevada. The lender may also not be able to consolidate debts other than credit card debt.
Who It’s Best For
Happy Money is best for borrowers who want to consolidate their credit card debt.
- Low APRs
- No late fees or prepayment penalties
- Specializes in credit card consolidation
- Doesn’t disclose origination fee amounts
- Loan terms limited to 24 to 60 months
- Doesn’t allow co-signers or co-borrowers
Eligibility:
- Minimum credit score. 640
- Minimum income. None
- Co-signers. Not permitted
- Co-borrowers. Not permitted
Customer service
We tested Happy Money’s customer service quality to gauge a prospective borrower’s experience. Through our research, we found that Happy Money had the longest wait time, two minutes and 15 minutes, which may be frustrating for some customers.
Once we connected with a representative, they disclosed much of the information we hoped to receive. For example, they shared loan amounts, interest rates, required documentation and turnaround times for the entire loan process, including preapproval, approval and funding. Besides the wait time to speak with a representative, the call was helpful and effective.
Best for Banking With a Credit Union
PenFed
Minimum Credit Score
Not disclosed
APR range
8.99% to 17.99%
Loan amounts
$600 to $50,000
Not disclosed
8.99% to 17.99%
$600 to $50,000
PenFed Credit Union offers a wide range of financial services and allows anyone to become a member by opening an online savings account and depositing at least $5.
Why We Like It
For those who want to borrow from a credit union, PenFed’s personal loans are a great choice due to its flexible membership requirements and national presence.
What We Don’t Like
Although PenFed can lend in all states, it only operates branches in 14.
Who It’s Best For
PenFed personal loans are best for borrowers who want to work with a credit union.
- Interest rate cap lower than many other lenders
- No origination fee
- Must become a member to qualify
- No discount for using autopay
Lender details
Eligibility
- Minimum credit score: Not disclosed
- Co-signers/co-borrowers: Yes
Funding Speed
Next-day funding may be available. The speed of funding may be longer or shorter depending on what time of day you apply for a loan.
Best Existing U.S. Bank Customers
U.S. Bank
Loan amounts
$1,000 to $50,000 for existing U.S. Bank customers and up to $25,000 for new customers
Depends on the area you live in
APR range
8.74% to 24.99%
with autopay
Minimum Credit Score
680
$1,000 to $50,000 for existing U.S. Bank customers and up to $25,000 for new customers
Depends on the area you live in
8.74% to 24.99%
with autopay
680
U.S. Bank operates physical branches in 27 states and offers personal loans to borrowers in every state.
Why We Like It
If you’d like to visit physical branches and work with your lender in person, U.S. Bank is a great option.
What We Don’t Like
U.S. Bank requires borrowers to be customers to access the maximum loan amount available—$50,000—and the lender’s longest repayment terms.
Who It’s Best For
U.S. Bank personal loans are best for current customers who want to do their banking in person.
- Does not charge origination, late payment or prepayment fees
- Direct payment to creditors is available
- Offers relationship banking benefits
- Offers both co-signer and co-borrower options
- Minimum credit score of 680 required
- No live chat support option
- Extended phone hours only (not available 24/7)
- Average 2-day funding timeline
Lender Details
Eligibility
- Minimum credit score: 680
- Co-signers/co-borrowers: Accepted
Funding Speed
You could get your loan within four business days after approval.
Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six month time period.
How We Picked the Best Online Personal Loans
How We Evaluate the Best Online Personal Loans
-
44
Lenders researched
We chose which lenders to review based on loan volume and availability
-
5
Methodology factors considered
Includes cost, loan details, eligibility, application process and CSI
-
18
Metrics examined
Most weight given to Consumer Sentiment Index, loan costs and loan details
| Product Name | Consumer Sentiment Index | Interest Rates and Fees | Customer Service | Loan Terms and Flexibility | Ease of Approval and Process | Overall Satisfaction |
|---|---|---|---|---|---|---|
|
Upgrade
|
|
4.2/7
|
4.9/7
|
4.9/7
|
6.3/7
|
8.4/12
|
|
LightStream
|
|
4.9/7
|
2.8/7
|
4.9/7
|
4.9/7
|
6/12
|
|
SoFi
|
|
4.9/7
|
2.8/7
|
4.9/7
|
4.9/7
|
6/12
|
|
LendingClub
|
|
4.9/7
|
4.9/7
|
5.6/7
|
6.3/7
|
9.3/12
|
|
Happy Money
|
|
5.6/7
|
5.6/7
|
4.2/7
|
6.3/7
|
8.4/12
|
Staff Editor
Staff Writer
Angelica Leicht
Angelica Leicht, lead editor, has nearly a decade of experience in the personal finance space, and holds expertise in personal and small business loan content, as well as mortgages and home equity loans. Prior to her role at Forbes Advisor, she worked at financial publications like Bankrate, HousingWire, CBS News and The Simple Dollar.
Taylor Medine
Taylor Medine is a staff writer at Forbes Advisor who demystifies complex money topics to help everyday people make more informed financial decisions. Over her nearly a decade of experience, Taylor’s work has been published on Bankrate, Experian, Credit Karma, MarketWatch, The Balance and more.
Angelica Leicht
Angelica Leicht, lead editor, has nearly a decade of experience in the personal finance space, and holds expertise in personal and small business loan content, as well as mortgages and home equity loans. Prior to her role at Forbes Advisor, she worked at financial publications like Bankrate, HousingWire, CBS News and The Simple Dollar.
How To Compare Online Personal Loans
When comparing your online personal loan options, it makes sense to start by prequalifying with multiple lenders. The prequalification process generally doesn’t impact your credit score and can show you the rates and terms you could be offered. Once you prequalify, weigh your options using these loan features:
- Annual percentage rate (APR). APR represents the cost of borrowing, including interest and fees. Choosing the loan offer with the lowest APR can save you money, but consider the other loan features as well before signing a loan agreement.
- Loan terms. Your loan term is how long you have to repay the loan. Lenders offer different terms, but online personal loans usually have one- to seven-year repayment terms. Your loan terms will help determine your monthly payments and overall interest costs. A personal loan calculator can help determine the payments you can afford.
- Loan amounts. Lenders also offer different loan amounts—typically up to $50,000, though some extend up to $100,000. Understanding how much you need to borrow can help you choose the best loan offer. If lenders offer more than you request, be careful not to over-borrow, as that can increase your interest costs and monthly payments.
- Fees and penalties. Some lenders charge late payment fees, prepayment penalties and origination fees. If you plan to repay your loan early, consider choosing a lender that won’t charge you for doing so.
- Perks. Some lenders offer perks such as discounts for enrolling in automatic payments or payment deferrals if you need forbearance. These features can help you decide which loan option is right for you.
How To Qualify for an Online Personal Loan
In many cases, it may be easier to qualify for an online personal loan than for financing through a traditional lender. Still, most lenders evaluate a few main factors when evaluating a loan application. To qualify for an online personal loan, you’ll likely need to meet the following requirements.
- Credit score. Most online personal loan lenders set a minimum required credit score to qualify. In most cases, you’ll need a credit score of 600 or higher to qualify for a loan, but the higher your score, the more likely you are to access more competitive rates.
- Income. Although many online lenders don’t disclose minimum income requirements, most require that you have steady and sufficient income to qualify for a loan. Lenders typically consider employment income as well as workers’ compensation, alimony and Social Security income when considering a loan application.
- Debt-to-income ratio (DTI). Lenders will often look at your current debt payments compared to your income, known as your debt-to-income ratio or DTI. Your DTI helps lenders determine if you can afford additional debt payments, with most requiring a DTI of 36% or less.
- Collateral. If you’re applying for a secured loan, you’ll need sufficient collateral to back your loan. Before approving a loan, the lender will evaluate your collateral to ensure it’s enough to secure the full loan amount.
Online Loans vs. In-Person Loans
With an online personal loan lender, the entire process of receiving a loan occurs online. An in-person lender, on the other hand, allows you to apply for and receive a loan at a physical location.
Below are some of the ways that these two lenders compare.
| ONLINE LENDERS | IN-PERSON LENDERS |
|---|---|
|
Many options, including banks, credit unions and online-only lenders
|
Fewer options, which include credit unions and banks
|
|
Customer service is online
|
In-person customer service
|
|
Typically have lower interest rates
|
Typically have higher interest rates
|
|
More options for borrowers with bad credit or low income
|
Fewer options for borrowers with bad credit or low income
|
Alternatives to Online Personal Loans
Online loan lenders aren’t the only option if you’re searching for a personal loan. Many credit unions and banks offer loans that can be applied for and funded online.
Alternatives to online loans include:
- Home equity loans. If you’ve established equity in your home, you can tap into it using a home equity loan or home equity line of credit. Although these options can come with a lower interest rate than many personal loans, if you fail to repay these loans, the lender can take possession of your home.
- Credit cards. If you need to cover a small financial emergency, credit cards can be an effective tool if you don’t overspend and create a plan for repayment. Credit card APRs and fees can make carrying a balance very costly.
- Cash advance app. Cash advance apps can offer short-term loans of up to $500 in most cases. If repaid on time, these loans can be cost-effective, but if the repayment due date is missed, they can accumulate fees quickly.
- Savings. If you can wait to pay for your expense, you won’t have to pay interest when you use your savings. Beyond that, you also won’t have to make payments on your loan over many years.
- Friends and family. If possible, friends and family can be a good option for a loan. Before accepting any funding from friends or family, be sure to write a promissory note so both parties can agree on the loan terms.