Best Low Interest Personal Loans of November 2024

• Pros:
  • Low rates
  • No fees
  • Fast approval and funding
  • Rate discount for autopay
  • Digital experience
• Cons:
  • Minimum loan amount is a bit high
  • Requires a long credit history

LightStream is the online lending division of Truist (formerly SunTrust Bank).

The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason.

LightStream charges no fees on its personal loans. Plus, it offers to send you $100 if you’re unsatisfied with the loan process.

• Pros:
  • No fees
  • Autopay discount
• Cons:
  • Long time to receive funds
  • No Cosigner Option

Marcus offers unsecured personal loans up to $40,000 with rates from 6.99% to 24.99%.

Marcus does not charge origination, late payment and check processing fees.

• Pros:
  • No prepayment penalty
  • Next day funding
• Cons:
  • Origination Fee
  • Extra Fees

Upstart loans range from $1,000 to $50,000. Not all applicants will qualify for the full amount.

The minimum loan amount: $7,000 (MA), $6,000 (Ohio), $5,100 (NM), $3,100 (GA), $2,100 (HI).

Borrowers need credit scores of 580 or higher.

Upstart offers fixed-rate APRs that vary from 5.60% to 35.99%. Loan terms are available for 3 or 5 years.

The origination fee ranges from 0% to 8%.

• Pros:
  • No prepayment or late fees
  • Free monthly FICO score updates
• Cons:
  • Co-signers are not accepted
  • Origination Fee
  • Slow funding
  • Not available in all states

The Payoff Loan™ is an unsecured personal loan designed to consolidate your credit cards into one monthly payment. Payoff requires a minimum FICO credit score of 640 or higher. It provides loans of up to $40,000.

The Payoff platform provides loans with rates between 8.99% and 29.99% APR. Minimum loan amount and APR may vary in certain states.

• Pros:
  • Fast approval and funding
  • Simple application process
• Cons:
  • Origination fee
  • Extra Fees
  • No Autopay Discount
  • Not available in all states

Prosper offers fixed-rate APRs that vary from 7.95% to 35.99%. Loan terms are available for 3 or 5 years.

The origination fee ranges from 2.41% to 5%. Prosper charges $15 for failed payments or returned checks. Payments that are 15 or more days late are assessed a late fee.

If you don't qualify for a personal loan with Prosper, consider applying with a co-applicant.

• Pros:
  • Fast funding**
  • Wide range of loan amounts
  • Accessible to most borrowers
• Cons:
  • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

** Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 9.99% - 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/.

** Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one (1) business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

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• Pros:
  • No collateral required
  • No origination fee or prepayment penalty
• Cons:
  • Late Payment fee

Golden 1 Credit Union offers personal loans of up to $50,000 with rates starting at 6.24%.

Golden 1 Credit Union does not charge a prepayment penalty. It also has no origination fee.

• Pros:
  • Low, fixed rates
  • No application fees, origination fees or prepayment penalties
  • No payments for up to 45 days
• Cons:
  • No autopay discount

First Tech FCU offers personal loans of up to $50,000 with rates starting at 6.70%.

First Tech does not charge a prepayment penalty. It also has no origination or application fees.

• Pros:
  • Fast funding
  • No origination fee
• Cons:
  • No details about the loan

Customers Bank provides personal loans that can be used for any purpose.

Customers Bank offers personal loans that range from $5,000 to $50,000, with repayment terms from 3 to 5 years.

• Pros:
  • No collateral
• Cons:
  • Documentation fee

Old National Bank offers loans from $2,500 to $35,000. All personal loans come with a $150 documentation fee.

Maximum loan term is 84 months for home improvement, 72 months for debt consolidation and 48 months for all other purposes.