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Best Personal Loans For Excellent Credit
Compare the Best Personal Loans for Excellent Credit
| COMPANY | FORBES ADVISOR RATING | MINIMUM CREDIT SCORE | APR RANGE | LEARN MORE |
|---|---|---|---|---|
 
|
Does not disclose
|
6.99% to 35.49%* with all discounts
|
Via Credible.com's Website
| |
|
|
700
|
7.24% to 24.89%
|
Via Credible.com's Website
| |
|
660
|
7.99% to 24.99%
|
Via MoneyLion’s Website
|
Best Personal Loans for Excellent Credit: A Closer Look
BEST OVERALL PERSONAL LOAN FOR EXCELLENT CREDIT
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 is an online lending platform that offers unsecured fixed-rate personal loans in every state. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.
Loans are available from $5,000 to $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum does not disclose) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.
Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum. The platform also offers customers several other perks and discounts.
- 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 LOW INTEREST RATES
LightStream
Loan amounts
$5,000 to $100,000
APR range
7.24% to 24.89%
with autopay
Minimum Credit Score
700
$5,000 to $100,000
7.24% to 24.89%
with autopay
700
LightStream offers loans with both a low minimum and maximum interest rate, along with a rate-beat program. LightStream’s unsecured personal loans range from $5,000 to $100,000 with loan amounts varying based on the loan purpose. In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay.
- 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 NO INTEREST IF REPAID WITHIN 30 DAYS
Discover
Minimum Credit Score
660
APR range
7.99% to 24.99%
Loan amounts
$2,500 to $40,000
660
7.99% to 24.99%
$2,500 to $40,000
Discover is an online bank that also offers customers credit cards, retirement solutions and personal loans in all 50 states. As a lending platform, Discover stands out because of its online application and mobile banking tools, well-reviewed customer support team and quick funding.
In general, loans are available from $2,500 to $40,000 and may be issued for between three and seven years. So, while borrowers may get a larger loan from another lender, the repayment terms are fairly flexible. Discover charges a late payment fee and does not offer an autopay discount; however, it does not charge any origination fees or prepayment penalties, making it competitive with other top personal loan providers.
- No fees
- Same-day lending decisions available
- Funding as soon as the next business day after approval
- Co-borrowers are not permitted
- Must demonstrate household annual income of at least $25,000
- Lower borrowing limit than some lenders
Eligibility:
- Minimum credit score required. 660
- Minimum annual income. $25,000
- Co-borrowers. Not permitted
- Co-signers. Not permitted
Expert’s Take
It’s no surprise that Discover personal loans are popular. Discover was the original rewards credit card with a large, diverse customer base. It utilizes its app and website to make the application process easy (especially for existing customers). In some cases, the funds are available the next day. Discover doesn’t have an application fee and is flexible with repayment options. The entire process is consistent with the brand and experience Discover’s customers are familiar with.
— Herman Thompson, Jr., advisory board member
Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six month time period.
Tips for Comparing Personal Loans for Excellent Credit
It’s typically easier for borrowers with excellent credit to get a personal loan than for less-qualified borrowers. However, these are some tips you can follow to get the best available rates and terms:
- Check your credit report and score. Before applying for a personal loan, check your credit score and review your credit report to look for errors. Even if you have excellent credit, mistakes on your report can result in a lower score than you might otherwise have. Knowing your exact credit score can also provide insight into the rate you’re likely to qualify for.
- Understand your borrowing needs. Evaluate how much you need to borrow and how much you can afford in monthly payments. Longer repayment terms result in smaller monthly payments but also leave more time for interest to accrue.
- Consider additional features and perks. In addition to competitive terms, some lenders offer features like mobile apps, hardship relief, financial education and direct creditor payoff for debt consolidation. Determine why you are borrowing funds and choose a lender with tools and perks that meet your needs.
- Shop around and compare lenders. An excellent credit score can help you qualify for the best personal loans from multiple top lenders. For that reason, it’s best to prequalify and compare offers to get the most competitive terms available.
What Is Excellent Credit?
Excellent credit is typically defined by a FICO score of 720 or higher. This high score indicates that a person has an excellent history of making payments on time and low amounts of personal debt. Individuals with excellent credit have access to personal loans with more favorable terms and conditions, such as lower interest rates, larger loan amounts and greater flexibility in repayment schedules.
Excellent credit borrowers may also receive personal loan offers with prepayment penalty waivers, which can be highly beneficial if you need to pay off the loan early. Furthermore, personal loan lenders are generally more willing to work out special arrangements for those with excellent credit scores, providing additional opportunities to reduce overall interest costs associated with taking out a personal loan.
Personal Loan Rates By Credit Score
How To Apply for a Personal Loan With Excellent Credit
Applying for a personal loan with excellent credit is relatively straightforward. Most lenders require you to provide basic personal information such as your name, address and Social Security number, as well as employment information, bank account numbers and income details.
The process varies slightly by lender, but you can follow these general steps to apply:
- Prequalify with multiple lenders. Prequalifying gives you an idea of what kind of loan and interest rate you may qualify for before applying for a personal loan. This process is typically based on a soft credit check, which doesn’t impact your credit score.
- Compare loan offers. Compare the loan amount, repayment term, fees, interest rate, estimated payment and other details to find the best personal loan for you.
- Gather the required documents. Before applying for a loan, organize the documents needed for the application process, including identification, bank statements, pay stubs and other financial records.
- Submit a formal application. Once you choose a lender, complete the formal application process. In addition to providing additional documentation, you may need to speak with a customer service representative to finalize your application and complete the verification process.
- Await approval. Once you submit the required documents, the lender will begin processing your application and pull your credit report to review your credit history and score. If they decide to approve your loan, they will discuss your loan details with you and provide additional paperwork to sign.
Will Applying for a Personal Loan Hurt My Excellent Credit?
Applying for a personal loan can strengthen your excellent credit as long as you responsibly manage it. Lenders examine various factors when approving a loan, including debt-to-income (DTI) ratio, income source and credit history.
Many online lenders offer a prequalification process that lets borrowers see what rates they’re likely to qualify for without a hard credit check. This means you can prequalify for multiple personal loans without negatively impacting your credit score.
Once you accept a loan offer, however, most lenders conduct a hard credit inquiry as part of the borrower verification process. Hard credit checks remain on borrower credit reports for two years and may cause a small score reduction for one year. Additionally, if you default on the loan or fail to make payments on time, it could have an adverse effect on your score. So, ensure that repayment terms are manageable before signing any documents.
Finally, we also recommend that borrowers regularly review their credit reports and utilize the resources available to them. This can help borrowers maintain an up-to-date understanding of their financial standing and future approval odds.
Pros of Personal Loans for Excellent Credit
- More competitive interest rates: Lenders generally offer excellent credit borrowers more favorable interest rates on personal loans than those with less-than-excellent credit scores.
- Lower fees: Many lenders base origination fees on various factors, including borrower credit score. More qualified borrowers can access the lowest origination fees—or no fees at all.
- Flexible repayment schedules: Lenders often provide excellent credit borrowers with longer repayment terms than those available to less creditworthy borrowers. This can result in lower monthly payments, making it easier to repay the loan.
- Ideal for debt consolidation: Borrowers with excellent credit may qualify for interest rates starting around 6%—much lower than many other types of debt, including credit cards. This makes personal loans a great option for qualified borrowers who want to consolidate other debts.
Cons of Personal Loans for Excellent Credit
- Applying may temporarily lower your credit score: Undergoing the application verification process usually requires a hard credit check that can stay on your credit report for two years. A hard inquiry can temporarily lower your credit score, though usually only for one year. Missed or late payments also can negatively impact your credit score.
- High balances can be difficult to repay: Borrowers with excellent credit generally can access larger loan amounts than those with lower scores. Higher borrowing limits often come with extended repayment periods, but monthly payments may still be high.
- May lead to a cycle of borrowing: Due to the higher loan payments, borrowers may resort to consolidating debt multiple times, resulting in a cycle of borrowing. Access to high borrowing limits can also lead to over-borrowing.
Methodology
We reviewed 29 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best lenders based on the weighting assigned to each category:
- Loan cost: 35%
- Loan details: 20%
- Eligibility and accessibility: 20%
- Customer experience: 15%
- Application process: 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.