9
Best Joint Personal Loans Of 2026
Compare the Best Joint Personal Loans
Best Joint Personal Loans: A Closer Look
Best Overall
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 is a traditional financial institution that offers online lending nationwide and operates branches in 27 states. Loans are available up to $50,000 for current U.S. Bank customers and up to $25,000 for noncustomers. Likewise, customers get access to up to 84-month loan terms, while noncustomers are limited to 60 months. Ultimately, the lender stands out for its traditional brick-and-mortar locations, flexible loan amounts and competitive interest rates. U.S Bank personal loans may be a good choice if you’re an existing customer and live in one of the 27 states with physical branch locations.
- 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.
Best for Bad 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
In addition to its online savings and checking accounts, Upgrade offers personal loans between $1,000 to $50,000. Repayment terms range from 24 to 84 months, and Upgrade’s rates start as low as 7.74%. That said, APRs can reach 35.99%, which is higher than the maximum rates set by other lenders. Still, with a minimum credit score of 580, Upgrade makes its loans more accessible than many other lenders and may be a good option if you and your co-borrower have inconsistent income or less-than-excellent credit.
- 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 Debt Consolidation
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 flexible personal loans from $5,000 to $100,000 that can be used for a range of purposes, including debt consolidation. The lender stands out for its high maximum loan amounts and lengthy borrowing terms—up to seven years—though APRs may be as high as 35.49%*. To qualify for a SoFi® personal loan, you’ll need a credit score of at least Does not disclose. However, applying with a co-borrower with good credit can improve your odds of qualifying.
- 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 Small Loans
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 is a brick-and-mortar credit union that offers online personal loans in all 50 states. The lender offers loans starting at $600 to $50,000 with terms up to five years. PenFed’s minimum APR is higher than that offered by some lenders, but rates max out at 17.99%, which is lower than many competitors. Membership is open to anyone, but the lender doesn’t disclose its minimum credit score requirements. Consider PenFed personal loans if you want to borrow from a credit union and take advantage of its flexible loan amounts and low interest rates.
- 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 for Fair Credit
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
In addition to LendingClub’s accessible credit score requirements, its low minimum loan amount makes it easier to borrow only what you need. While some lenders require you to borrow at least $5,000, LendingClub’s personal loans range from $1,000 to $60,000 with terms ranging from two to seven years. The lender doesn’t offer a rate discount for autopay, and its maximum APR is higher than other lenders, but it may be a good option if you and your co-signer have fair credit.
- 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 Good-to-Excellent Credit
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, the consumer lending arm of Truist, offers high maximum loan amounts with competitive APRs. The lender’s personal loan APRs start at 6.49%, which is among the lowest rates available from personal loan lenders, and repayment terms range from two to 20 years, depending on the loan type. That said, LightStream doesn’t offer prequalification with a soft credit inquiry, and you or your co-borrower will need a FICO Score of at least 700 to qualify. For that reason, LightStream personal loans are the best option if you have a well-qualified co-signer likely to 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.
Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six month time period.
What Is a Joint Personal Loan?
A joint personal loan is any loan applied for with a co-signer or co-borrower. When you add a co-signer or co-borrower to a loan application, lenders consider the creditworthiness of both applicants. Adding a co-signer or co-borrower with good credit can improve your chances of approval if you have poor or limited credit.
Although they function similarly, co-signers and co-borrowers are different. Co-borrowers—also known as co-applicants before the loan is approved—have access to the loan funds and are equally responsible for repaying the loan. On the other hand, co-signers don’t have access to the loan funds and only become responsible for the loan if the primary applicant stops repayment.
Tips for Comparing Joint Personal Loans
Consider these tips when comparing joint personal loans:
- Both borrowers must be able to qualify. Because lenders consider both applicants’ information, both borrowers must meet that lender’s minimum credit score requirement. If you do have a qualifying score, adding a second borrower with a stronger credit and income history could help you receive more favorable terms, like lower interest rates.
- You can’t use a co-signer. While co-signers can help you qualify for a loan if you have damaged credit, the lenders on this list that offer unsecured personal loans won’t let you apply with a co-signer. Co-signers are typically eligible on secured loans, including auto loans, mortgages or home equity lines of credit.
- If possible, prequalify. Several lenders offer the opportunity to prequalify you for a personal loan. This means you can submit details like your income information, desired loan use, housing situation and other information. Prequalification also only requires a soft credit check, which doesn’t hurt your credit score, so you can safely find the best rates.
- Check for additional fees. Some personal loan providers charge no origination fees, late payment fees or prepayment penalties. However, there are some that may charge all or some of these fees. When comparing personal loans, be sure to look at the fee structure beyond the potential interest rate you can receive.
- Evaluate the lender’s customer support options. If you’ve found a lender, there’s one more thing to consider before signing the loan agreement. While customer support may not seem like a big deal, it can make a huge difference if you encounter issues with payments or face a financial hardship during your repayment period. Review the lender’s customer service resources and read reviews to make sure it’s a good fit.
Related: Compare Personal Loan Rates
Joint Loan vs. Individual Personal Loan
A joint personal loan is a loan that involves two borrowers—a primary borrower and a co-borrower—applying on one application. In the case of a joint application, the lender will consider both applicants’ credit scores, income and overall credit history for qualifying purposes. Both borrowers are equally responsible for the debt obligations and repayment.
An individual loan, on the other hand, involves only one borrower. However, on an individual loan, the borrower can sometimes add a co-signer—a secondary person who agrees to pay back the loan if the borrower doesn’t—if the lender allows for it for a chance at receiving more favorable terms if they don’t meet minimum qualification requirements.
Co-borrower vs. Co-signer
A co-borrower is typically utilized when two parties want to receive a direct benefit from the loan. This means while a co-borrower has equal rights to use the assets purchased with the loan, they also share responsibility for repaying the loan. Co-borrowers are most commonly your spouse, and the primary borrower and co-borrower’s credit scores are equally considered during the application process.
A co-signer is typically a friend or family member who helps an applicant—usually someone with poor credit or no credit—qualify for a loan by agreeing to repay the loan if the borrower does not. Further, co-signers don’t have any ownership rights to the assets purchased with the loan and are not responsible for making payments unless the primary borrower fails to. Lenders typically rely more heavily on the co-signer’s credit score during the application process.
Related: Co-Borrower Vs. Co-Signer: Which Should You Use On Your Loan?
Pros and Cons of Joint Personal Loans
If you’re thinking about taking out a joint personal loan, consider the pros and cons before accepting a loan.
Pros of Joint Personal Loans
- May improve your interest rate. If your co-borrower has better credit than you, you may qualify for a lower interest rate.
- Could increase your loan amount. Lenders consider all income when reviewing an application for multiple borrowers, which can help you qualify for a larger loan amount.
- Lets borrowers share a debt burden. If multiple people will benefit from the loan funds, applying together as co-borrowers makes it possible to jointly repay the debt.
Cons of Joint Personal Loans
- A co-borrower with bad credit can drive up your rate. Both borrowers must meet minimum credit requirements to get a joint loan. If one borrower has bad credit, rates may be higher, or your application could get denied altogether.
- Missing payments can affect your credit. Payment history for joint personal loans shows up on the credit reports for each co-borrower. If you make late payments or miss payments altogether, that’ll damage both of your scores.
- You’re both responsible for debt. If your co-borrower stops paying back their share of the loan, you’ll still be held liable for the debt. Defaulting on the loan can also come with severe repercussions, like the debt going to collections or court.
How To Apply for Joint Personal Loans
While the process may vary depending on your specific lender, here are the general steps you can follow to get a joint personal loan:
- Check both borrowers’ credit scores. Start by checking both borrowers’ credit scores through each person’s credit card provider or another credit-providing website. This will help you understand which lenders you can or can’t qualify for, since lenders consider both applicants’ credit histories.
- If necessary, improve either of the borrowers’ scores. If either of the borrowers’ scores is below 610 or you want to boost both of your scores to receive the most favorable terms, take time to improve your scores before applying. You can do so by taking various actions like lowering your credit usage or paying off unpaid debts.
- Evaluate your budget. Before finding the right lender, evaluate your budget and understand how much loan you can afford. Only borrow what you need, because you’ll owe interest on the entire balance. A personal loan calculator can help you estimate your monthly payments.
- Prequalify with multiple lenders. Some lenders offer a prequalification process, which lets you see what terms you may receive once approved without a hard credit check. Utilize this as a way to find the best offer for your situation.
- Submit your application. Once you’ve found your preferred lender, submit an application online or in person. There will typically be an option to apply for a joint loan or add a co-borrower. Both borrowers should be prepared to provide their personal information, such as their Social Security numbers (SSNs), address and income information.
Alternatives to Joint Loans
Joint loans may not work for everyone, and there are other options to consider if you need financing, including:
- Bad credit loans. If you don’t have someone willing to be a co-borrower on your loan application, you may need to look for lenders where you can qualify on your own. Many lenders offer bad credit personal loans but keep in mind that interest rates and fees can make these loans very costly.
- Secured loans. Secured loans can have lower qualification requirements than unsecured loans since you’re required to secure the loan with collateral—something of value like a car or jewelry. If you default on a secured personal loan, lenders can repossess your collateral to cover the cost of the loan.
- Cash advance apps. If you only need a small loan, cash advance apps can be a good option if you can repay the loan by the end of the term. While these loans can be easy to access, interest and late fees can make them costly.
- Loans from family or friends. If a friend or family member is willing to lend you money, this can be a good option to cover a temporary cash shortfall. Before accepting any loan, be sure to write a promissory note so there’s an understanding of how and when the loan will be repaid.
Methodology
We reviewed 19 popular lenders based on 19 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose lenders that allow for co-borrowers and ranked them based on the weighting assigned to each category:
- Loan cost. 35%
- Loan details. 20%
- Eligibility and accessibility. 15%
- Customer experience. 15%
- Application process. 15%
Within each category, we also considered several characteristics, including loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements 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 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.
Frequently Asked Questions (FAQs)
What credit score does a co-borrower need for a personal loan?
Although there isn’t a standard minimum credit score requirement for co-signers, it’s common for lenders to require a good score (at least 670). However, there are also lenders who cater to borrowers with fair or bad credit scores, with some credit score requirements as low as 580. Joint personal loans with bad credit can help you qualify for needed funds, and prequalifying with multiple lenders lets you see whether you and your co-borrower qualify.
Is it better to apply for a loan individually or jointly?
It’s common to apply for a joint personal loan with your spouse; however, it’s not always the right choice. Because lenders consider both applicant’s credit and income, it wouldn’t be a good idea to apply jointly if you or your spouse has poor credit. Doing so will likely cause you to qualify for a loan with high interest rates, or not qualify at all. If this is the case, apply with one borrower (the one with the higher credit score) to yield the most favorable terms.
However, if you can qualify for a loan together and the cost isn’t significantly more than filing individually, then it may be a solid choice. Because both borrowers are responsible for the monthly payments, the loan can help the borrower with lower credit improve their score. As you repay the loan on time, both borrowers will build their credit histories.
Does it matter who is the borrower and co-borrower?
Because the primary borrower and co-borrower both are entitled to the assets purchased with the loan, responsible for repayment and equally evaluated during the application process, it typically doesn’t matter who is the borrower and co-borrower.
Can you get a joint loan if one borrower has bad credit?
While you may be able to get a joint loan if one borrower has bad credit, it’s likely not a good decision. This is because both borrowers’ credit scores are considered during the application process, which means the damaged credit score can result in higher interest rates or even a denial.
How does a joint loan affect my credit score?
A joint loan is reported on both borrowers’ credit reports. This means any hard inquiries during the application process can ding your score temporarily, along with the co-borrower’s. Additionally, the lender will report the account’s payment history to both borrowers’ credit reports; a positive payment history can boost your score while a negative history can damage it.
Can you get a joint loan without being married?
You don’t have to be married to get a joint loan; however, it is common. While some lenders require both borrowers to live at the same address, others do not. Check your preferred lender’s co-borrowing requirements before applying.