Best peer-to-peer lenders
Interested in peer-to-peer lending? We found the best P2P marketplaces for you to compare. Top picks include Peerform, Prosper, Upstart and Kiva.
Ashley Eneriz
A good credit score can get you better terms
In 2021, the average FICO Score in the U.S. was 716, reflecting a steady increase over recent years, according to Fair Isaac Corporation. As Americans’ credit scores are rising overall, it may be hard to tell if your credit score will be good enough to get a personal loan when you need it.
According to Equifax, a “good” credit score is between 670 and 739. If you have good credit, you should have plenty of borrowing options. The best personal loan lenders are widely available, have competitive annual percentage rates and charge few or no fees.
Below, see our top picks for good-credit personal loans.
No matter what type of personal loan you’re getting, it’s always a good idea to find a lender with reasonable annual percentage rates (APRs), transparent fee information and repayment terms that fit your needs. Our picks for lenders that are particularly ideal for borrowers with good credit are Prosper, Best Egg, Marcus by Goldman Sachs, Upgrade and LightStream.
Methodology: The ConsumerAffairs Research Team chose our top picks for good-credit loans by comparing popular lenders on online reputation, rate transparency and availability. All information is accurate at the time of publishing.
Prosper is an online peer-to-peer lending marketplace that brings together those who need to borrow money with investors willing to lend to them. While Prosper doesn’t actually lend the funds, it does service the loans on behalf of borrowers and investors. Its loan amounts range from $2,000 to $40,000.
You can apply for a personal loan through Prosper’s website. You’ll need to provide personal information like your name, address, date of birth and Social Security number. You’ll also specify the amount of money you need to borrow and the purpose of the loan (like home improvement, medical expenses, etc.).
Prosper will then review your application and show you offers with no effect on your credit score. After you accept an offer, you complete the verification steps to get final approval. You then receive funds as soon as the next business day.
People seem to like Prosper for its ease, and several of our reviewers are repeat customers.
A reviewer from Colorado wrote about their experience with the company on ConsumerAffairs: “It was a quick [and] easy process. Funds were available within [five] business days of my application. I recommend it [to] anyone with good to great credit.”
*Trustpilot TrustScore as of December 2022. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable. 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, $5,000; and Georgia, $3,000. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Joseph Walsh – Operations Manager, Email: ccrt-resolution@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-82-6353. 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/. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–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%–8.99% 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 7.99% APR has 36 scheduled monthly payments of $155.12. 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.
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-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/.
Best Egg is an online loan servicer that provides personal loans for a variety of purposes. The platform lets borrowers access funds quickly with minimal hassle, with approvals in minutes, and funds are available in as little as one day. You can borrow from $2,000 to $50,000 and pay it back in fixed monthly payments over three or five years.
Best Egg lets you check rates on its website, which only requires a soft credit inquiry and doesn’t impact your credit score. You’ll need to input info like your household income, debt details and Social Security number. This allows you to see your loan options without making a commitment.
Once you agree to the loan terms, Best Egg conducts a hard credit check. It may also request additional information, like proof of income, to finalize your loan. If you’re approved, you’ll need to provide your bank account information so Best Egg can transfer the funds.
Reviewers on our site give Best Egg positive ratings overall, highlighting the company’s customer service and promptness.
According to a reviewer from Massachusetts, “Best Egg was extremely responsive and I was blown away with their customer service. I received my loan within two days of applying, and was set up with an account immediately.”
They also said they were “NOT on hold for any amount of time” and that the representative was “not only knowledgeable, but also very quick to resolve my issues and didn't require me to be on the phone for more than a few minutes.”
Marcus by Goldman Sachs is an online offering from investment bank Goldman Sachs. Marcus offers personal loans with relatively low rates and no fees. You can apply for an unsecured personal loan ranging from $3,500 to $40,000.
To begin the process, you’ll need to provide your personal info, including your annual income. Marcus then conducts a soft credit check and shows you your loan options, usually within minutes. If you like what you see, you can proceed by providing your Social Security number so the lender can run a hard credit inquiry. Marcus may also request other documents to complete your application, like pay stubs or bank statements.
Once your application is approved, you’ll sign the loan documents and connect your bank account to receive the funds. Funds should be deposited within three to four business days.
At the time of publishing, our site doesn’t have many reviews for Marcus. Several people have found a customer from New York’s review helpful, however.
“Great loan and excellent client services," they said. "I needed to consolidate my high-interest credit cards. … My loan was able to pay off three accounts in full and pay off a large chuck of other balances that were haunting me every month. My one monthly payment along with not using these credit cards has made my credit score go from good to excellent in seven months!”
As of February 2023, Marcus by Goldman Sachs is offering personal loans by invitation only. Rates and loan terms may have changed.
*Trustpilot TrustScore as of December 2022. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable. 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, $5,000; and Georgia, $3,000. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Joseph Walsh – Operations Manager, Email: ccrt-resolution@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-82-6353. 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/. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–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%–8.99% 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 7.99% APR has 36 scheduled monthly payments of $155.12. 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.
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-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/.
Upgrade is a financial technology (fintech) company that offers personal loans, checking accounts, cards with a personal line of credit and credit monitoring and education. Its personal loans can be used to consolidate debt, refinance credit cards, make home improvements or pay for a major purchase.
Upgrade’s loans range from $1,000 to $50,000 with terms from two to seven years, giving you lots of flexibility. Upgrade also lets you change your payment date so it fits with your budget.
Like most other personal loan companies, Upgrade lets you check your rate online without affecting your credit score. You can see the different loans you qualify for and choose the one you want. Once you’re approved, the funds are sent to your bank account within one business day.
ConsumerAffairs doesn’t have many reviews for Upgrade at the time of publishing, but a customer from Las Vegas had a great experience with the lender.
“Easy application process," they said. "They will even do a soft credit pull to tell you what your likelihood is of being preapproved and at what rate. Once your process is approved they deposit the funds directly into your bank account. Customer service is helpful, knowledgeable and professional. I have had multiple loans. [I am] happy and would continue doing business with them. I highly recommend them.”
*Trustpilot TrustScore as of December 2022. Best Egg personal loans, including the Best Egg Secured Loan, are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, a Nationally Chartered Bank, Member FDIC, Equal Housing Lender. “Best Egg” is a trademark of Marlette Holdings, Inc., a Delaware corporation. All uses of “Best Egg” refer to “the Best Egg personal loan”, “the Best Egg Secured Loan”, and/or “Best Egg on behalf of Cross River Bank or Blue Ridge Bank, as originator of the Best Egg personal loan,” as applicable. 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, $5,000; and Georgia, $3,000. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Joseph Walsh – Operations Manager, Email: ccrt-resolution@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-82-6353. 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/. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–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%–8.99% 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 7.99% APR has 36 scheduled monthly payments of $155.12. 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.
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-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/.
LightStream is a division of Truist, a bank formed by the merger of SunTrust Bank and BB&T. It offers personal loans for a variety of purposes, including home improvement, vehicle purchases, recreation, family life and debt consolidation. It has competitive rates on loans up to $100,000, a satisfaction guarantee and a rate-beating program. You can apply online and possibly get same-day funding.
LightStream’s application and funding process are completed online. The company doesn’t disclose credit score or income requirements for personal loans, but it does state that it approves borrowers with several years of credit history, reliable income, assets and a track record of on-time payments.
LightStream has generally favorable reviews on our site, with one reviewer from Florida praising the company's customer service and options.
“Lightstream could not be any more user-friendly and customer-driven!" she said. "They plant a tree for every loan! They offer lots of repayment options and allow you to change payment time and amount whenever you need to make it more convenient.”
All our top picks have strong offerings, but the best lender for you depends on your needs and priorities. LightStream, for example, has the lowest starting APR but the highest minimum borrowing amount. Check out the table below for important points of comparison between our top picks.
![]() | 7.95% to 35.99% | 640 | $50,000 | 2.41% to 5% |
![]() | 8.99% to 35.99% | 600 | $50,000 | 0.99% to 8.99% |
![]() | 6.99% to 19.99% | 660 | $40,000 | None |
![]() | 8.49% to 35.99% | 560 | $50,000 | 1.85% to 9.99% |
![]() | 7.49% to 24.49% (with autopay) | 660 | $100,000 | None |
The best (and lowest) APRs are reserved for borrowers with excellent credit, which is often defined as a score of 800 or higher, but it's possible to get a loan even if you have less-than-ideal credit.
To save on borrowing costs, research reputable lenders that offer low rates with few fees. Before you apply for a personal loan, you’ll want to request a recent copy of your credit report and check it for mistakes and inaccuracies that can negatively affect your score.
You’re entitled to one free credit report every year from each of the three major credit bureaus (TransUnion, Equifax and Experian) — visit annualcreditreport.com to get a copy of yours. Check with your credit card company or bank for access to your score.
If you find that your credit is less than ideal, you can work on improving your score before you apply for loans. Focus on paying your bills on time and keeping your credit utilization low.
According to Experian, a 700 credit score falls in the “good” range of FICO Scores (670-739).
The easiest way to apply for a personal loan from a bank is through its website. You can also call or visit a physical bank branch if you prefer to apply in person. There may be benefits to applying for a personal loan from the bank where you keep a checking or savings account, like special offers.
The average interest rate on a personal loan is between 10% and 28%. Your interest rate depends on factors such as your credit score, your income, the payment term, the lender and other factors.
In general, if you have good credit, you should be able to secure a lower rate on a personal loan. As you research loan options, take into account the reputation of the lender, the ease of application, how quickly you can get funds and any fees you may be responsible for. Be sure to compare offers from several lenders before making your decision.
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