Partner Disclosures
Terms presented, including APR and monthly payment amount, are estimated and created based on information entered by you and through analysis of historical data on loans through Prosper. Your eligibility for a loan and actual terms depend on the information you provide in your application, and other variables including, but not limited to, your credit score, Prosper Rating, loan amount, loan term, employment and income details, credit usage and history. Eligibility for personal loans up to $50,000 depends on a number of factors, including (but not limited to) your financial history, credit score, monthly income, and monthly expenses. Eligibility for personal loans is not guaranteed, and requires sufficient investor commitments to fund. Personal loans through Prosper have an annual percentage rate (“APR”) of 8.99% to 35.99%, terms between two and five years, and an origination fee from 1% to 9.99%. For example, a three-year $10,000 personal loan with an interest rate of 9.38% and a 9.99% origination fee results in a 16.74% APR. You would receive $9,001.00 and make 36 scheduled monthly payments of $319.77. A five-year $10,000 personal loan with an interest rate of 11.14% and a 9.99% origination fee results in a 15.84% APR. You would receive $9,001.00 and make 60 scheduled monthly payments of $218.12. Whether you are eligible for a specific APR or loan term will depend on a number of factors, including (but not limited to) your current credit rating and information you provide in your application. The lowest rates are for the most creditworthy applicants. Your actual rate may differ. You may receive your funds one business day following your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s transaction processing speed. All personal loans made by WebBank.
Partner Disclosures
A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,389 for a term of 36 months, with an interest rate of 11.75% and a 6.00% origination fee of $1,163 for an APR of 16.10%. In this example, the borrower will receive $18,226 and will make 36 monthly payments of $642. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 72 months. Some amounts, rates, and term lengths may be unavailable in certain states. For Personal Loans, APR ranges from 7.90% to 35.99% and origination fee ranges from 0.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of Jan 9, 2025 and are subject to change without notice. Unless otherwise specified, loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. LendingClub Bank is not an affiliate of Consumer Affairs and is not responsible for the products and services provided by Consumer Affairs. Loans are subject to credit approval and sufficient investor commitment. If a credit union is selected to invest in the loan, credit union membership will be required. Certain information that LendingClub Bank subsequently obtains as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that you request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com “LendingClub” is a trademark of LendingClub Bank.
Partner Disclosures
*Trustpilot TrustScore as of April 2025. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender, Column N.A., Member FDIC, Equal Housing Lender. The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500; Ohio, $5,001; and Georgia, $3,001. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 6.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%– 9.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5?year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3?year $5,000 loan with 6.99% APR has 36 scheduled monthly payments of $152.83. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL– Operations Manager, Email: crt resolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855- 282-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/
Partner Disclosures
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
Are you in search of the best online loan? Whether you’re consolidating high-interest debt, financing a major purchase or covering an unexpected emergency, the convenience of online loans can be a financial lifesaver.
We’ve done the legwork to find you the best personal loans with easy online applications and lightning-fast funding times. Say goodbye to endless searching and hello to the five best online loan lenders to help you reach your financial goals.
When it comes to online personal loans, you want a trusted company that offers competitive annual percentage rates (APRs) with low caps, an easy-to-use website and good reviews from borrowers. The best online personal loan options we found are from Best Egg, Upgrade, Prosper and LendingClub.
The best lender for you will depend on your credit score, how much you need to borrow, and the fees you're willing to pay.
Prosper stands out for individuals with excellent credit who want to capitalize on the lowest possible APRs. If your credit score is 640 or above, Prosper's APR range starting at 7.95% and more moderate origination fees of 2.41% to 5% can result in overall cost savings on your loan.
At the same time, Best Egg is a strong option if you're looking for low origination fees, and Upgrade or LendingClub could be good if you have lower credit.
Getting pre-qualified is the best way to see which lender offers the best terms for your situation.
| Company | Customer rating | APR range | Min. credit score | Max. loan amount | Origination fees (part of APR) | |
|---|---|---|---|---|---|---|
 | 4.7 | 8.99% to 35.99% | 700 | $50,000 | 0.99% to 8.99% | Compare Offers |
 | 4.5 | 7.99% to 35.99% | 580 | $50,000 | 1.85% to 9.99% | Compare Offers |
 | 1.3 | 8.99% to 35.99% | 600 | $50,000 | 1% to 9.99% | Compare Offers |
 | 2.5 | 7.90% to 35.99% | 620 | $65,000 | 0.00% to 8.00% | Compare Offers |
» MORE: How to manage your money
Before you begin the application process, you should assess your loan needs and financial situation. For example, if your goal is debt consolidation, first add up all your credit card balances to find how much you need to borrow to pay those off. If you’re using the funds for a home improvement project, you may want to get quotes from various contractors so you have a good idea of the potential costs.
It’s a good idea to know your credit score and check your credit report for inaccuracies before applying for a personal loan.
Once you know how much you need to borrow and what your credit score is, you research the lending options available to you. Be sure to consider the fees associated with the loan (like origination fees), the average APR for your credit score and any perks included with the loan. Prosper, Best Egg, LendingClub and Upgrade all let you check your rate online before you commit.
When you’ve decided which loan best suits your needs, you can apply online and generally receive a decision within a day or so. If you’re approved, you’ll receive the loan terms and an agreement to sign. Once you sign, you should receive the funds within a few business days, depending on how fast your lender and bank can process the funds.
Applying for an online loan usually requires the same set of documents as in-person loans. Here's a standard list of what you might need:
» MORE: How do personal loans work?
Online personal loans offer you the convenience and speed that traditional banks often can't match. You can apply from the comfort of your home, get a decision quickly and receive funds in your account in a matter of days or even hours.
But the ease of access can lead to hasty decisions, and some online lenders may have higher APRs or origination fees than what you’d find at banks.
Many online loan lenders have lower credit score minimums than traditional lenders, so it’s possible to get an online loan with bad credit. You can also increase your chances of approval with these options:
No-credit-check loans and online payday loans may seem like a lifeline if you have poor credit, but tread carefully. These loans typically don't require a credit check — which can be appealing if you have credit issues—but they come with extremely high fees and APRs in the triple digits. Always prioritize safer, more affordable borrowing options when possible.
For example, a payday loan might require repayment in full in just a few weeks, usually on your next payday. If you can't pay, you might have to take out another loan, incurring more fees and interest. This cycle can quickly become unsustainable and lead to a situation where the amount you owe far exceeds the original loan amount.
Online personal loans can be safe if you borrow from a reputable lender. Always research lenders, read reviews, and verify their credentials before applying. Take time to understand the fees and interest rates you're agreeing to before you accept an offer. Make sure you comfortably handle the monthly payment.
Many lenders have short questionnaires you can fill out on their websites to pre-qualify and view potential loan offers without impacting your credit score. You’ll usually provide some basic financial information, like your credit score, loan amount and anticipated term, and then they’ll give you a preliminary offer. You can use online comparison tools or visit lender websites individually to compare your options.
The easiest loans to get approved for are often payday loans or short-term, high-interest loans, which are accessible even with poor credit. But their ease comes at a cost: They typically have exorbitant APRs and can lead to a dangerous cycle of debt. Explore all other options — including online personal loans from reputable lenders like Prosper, Best Egg, LendingClub and Upgrade — before resorting to these high-risk financial products.
The best online loans offer easy online applications, quick funding, and competitive terms. If you need a loan, your next step is to get pre-qualified with top lenders to see which one offers the best terms for your specific financial situation.
Pre-qualification is a simple, quick process that can give you a clear picture of your options without affecting your credit score. Armed with this information, you can choose the loan that will best help you achieve your financial goals.
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
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