5.99 - 21.49 %
APR
2 - 6 years
Loan Term
Check rates
On partner's site

Best Personal Loans in Massachusetts

We have found 106 personal loans in Massachusetts. Compare and choose the best loan for your purpose.

By Myfin Team
Updated March 28, 2024
Showing 106 personal loans
APR
5.99 - 21.49 %
with Autopay
Term
2 - 6years
Loan amount
$5,000 - $100,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Autopay discount:
    0.5%
  • Origination fee:
    No origination fee.
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • 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.

See LightStream full product review
Check rates
On partner's site
APR
6.99 - 24.99 %
with Autopay
Term
3 - 6years
Loan amount
$3,500 - $40,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Autopay discount:
    0.25%
  • Origination fee:
    No origination fee.
  • Funds available in:
    5 business days.
  • Loan Purpose:
    Personal Loan
  • 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.

See Marcus by Goldman Sachs full product review
Check rates
On partner's site
APR
5.6 - 35.99 %
Term
3 - 5years
Loan amount
$7,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    10%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • 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%.

See Upstart full product review
Check rates
On partner's site
APR
8.3 - 36 %
Term
3 - 5years
Loan amount
$1,000 - $40,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    3 - 6%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Quick, easy online application
    • Fast funding
  • Cons:
    • Origination fee

LendingClub offers loans of $1,000 to $40,000.

The APR range is from 8.30% to 36.00%. Loan terms are available for 3 or 5 years.

LendingClub charges an origination fee of 3% to 6% on personal loans.

See LendingClub full product review
Check rates
On partner's site
APR
7.99 - 23.43 %
with Autopay
Term
2 - 7years
Loan amount
$5,000 - $100,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Autopay discount:
    0.25%
  • Origination fee:
    No origination fee.
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Rate discount for autopay
    • No Fees
  • Cons:
    • Not available to residents of Mississippi
    • No secured loan option

SoFi loans range between $5,000 to $100,000.

The APR range is from 7.99% to 23.43% (with discounts). Loan terms are available for 2 or 7 years.

The loan is not available in Mississippi.

SoFi personal loans have no fees: no origination fees, no late fees, no prepayment penalties.

See SoFi full product review
Check rates
On partner's site
APR
9.95 - 35.95 %
Term
1 - 5years
Loan amount
$2,000 - $35,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    4.75%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Low minimum credit score requirements
    • No prepayment fees
  • Cons:
    • Fees
    • No Autopay discount
    • No Cosigner Option

Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.95%.

Avant charges an origination fee up to 4.75%.

Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.

See Avant full product review
Check rates
On partner's site
APR
7.95 - 35.99 %
Term
3 - 5years
Loan amount
$2,000 - $40,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.41 - 5%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • 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.

See Prosper full product review
Check rates
On partner's site
APR
7.99 - 35.99 %
Term
3 - 5years
Loan amount
$6,500 - $50,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    0.99 - 8.99%
  • Funds available in:
    1-3 business days.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval
    • Low fixed rates
    • Fast funding
  • Cons:
    • Fee charged

Best Egg is a national online lending platform offering personal loans starting at $2,000 for a variety of purposes.

Best Egg’s personal loans are ideal for consolidating debt or funding major expenses. Borrowers cannot use loans toward securities or postsecondary educational expenses.

There are no prepayment penalties, so you can pay off the loan ahead of schedule without extra fees.

Best Egg origination fees vary from 0.99% to 8.99%.

The quote you receive is based on multiple factors, including: Credit score and history, Income, Debt obligations, Loan amount, Repayment term (36 vs. 60 months).

See Best Egg full product review
Check rates
On partner's site
APR
5.4 - 35.99 %
Term
1 - 7years
Loan amount
$600 - $100,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    Depends on the lender
  • Funds available in:
    24 hours
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Checking rates will not affect your credit score
    • Personal information is not sold to lenders
    • Available rates and lenders will appear based on preferred settings, with no bias
    • Receive actual rates based on your credit profile, not estimates
  • Cons:
    • Not a direct lender

Credible.com is a financial marketplace that helps thousands of Americans to get personal loans at the best rates they qualify for.

On Credible.com you can apply for a personal loan of up to $100,000. Then it will match your application with offers on the market and help you to find the lowest rate, based on your credit profile.

Credible.com is free to use and doesn't have any hidden fees.

See Credible full product review
Check rates
On Credible.com
APR
8.49 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 9.99%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • 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 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/.

** 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.

Read full review

See Upgrade full product review
Check rates
On partner's site
For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.
Search for best loan
Showing 106 personal loans
Amount
$
Credit Score
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Loan Purpose
  • Personal Loan
  • Home Improvement Loan
  • Medical (Dental) Loan
  • Debt Consolidation Loan
  • Major Purchase
  • Refinance Credit Card
  • Moving Expenses (Relocation)
  • Travel
  • Other

TOP 5 banks offering personal loans in Massachusetts

Showing 5 banks
Sort by: Branches
Branches 234 bank branches
Total Assets (US$M)226,531,535
Agawam Stop & Shop Branch
1282 Springfield Street, Agawam, MA, 1001
Belchertown Stop &shop Branch
20 George Hannum Street, Belchertown, MA, 1007
Chicopee Branch
1283 Memorial Drive, Chicopee, MA, 1020
Show all departments
Branches 197 bank branches
Total Assets (US$M)93,871,794
Westfield Branch
30 Elm Street, Westfield, MA, 1085
Forest Park Branch
590 Sumner Avenue, Springfield, MA, 1108
Fitchburg Main Branch
147 Water Street, Fitchburg, MA, 1420
Show all departments
Branches 195 bank branches
Total Assets (US$M)2,440,022,000
Amherst - Center
1 S Pleasant St, Amherst, MA, 01002
Thursday: 9:00 AM - 4:00 PM
Chicopee - Memorial Drive
638 Memorial Dr, Chicopee, MA, 01020
Thursday: 9:00 AM - 4:00 PM
East Longmeadow
431 N Main St, East Longmeadow, MA, 01028
Thursday: 9:00 AM - 4:00 PM
Show all departments
Branches 136 bank branches
Total Assets (US$M)405,223,010
Td Bank Agawam
40 Springfield Street, Agawam, MA, 01001
Thursday: 8:30 AM - 6:00 PM
Td Bank Amherst Triangle Street
243 Triangle Street, Amherst, MA, 01002
Thursday: 8:30 AM - 6:00 PM
Td Bank Willimansett
153 Meadow Street, Chicopee, MA, 01013
Thursday: 8:30 AM - 6:00 PM
Show all departments
Branches 82 bank branches
Total Assets (US$M)3,380,824,000
Mass Pike - Blandford Eb
50 North St, Blandford, MA, 01008
Mass Pike - Ludlow Eb
862 Massachusetts Tpke, Ludlow, MA, 01056
Mass Pike - Lee Wb
240 W Rd, Lee, MA, 01238
Show all departments

Personal Loans in Massachusetts

Are you considering a personal loan to cover unexpected expenses? Lenders in Massachusetts are keen to offer many options, but you should choose a loan that fully meets your requirements.

How to Choose the Best Personal Loan in Massachusetts?

Here are a few things you should take into consideration when choosing a loan, so that you don't end up worsening your finances.

  1. The major indicator to pay attention to is the APR, which is in Massachusetts between 3.99% and 35.99%. Unlike the usual interest rate, the annual percentage rate shows how much the loan will cost you including all bank commissions and fees.
  2. Lenders often charge origination fee as a commission for your loan processing. It varies from 0% to 8.99% in MA and may significantly increase the overpayment on the credit.
  3. Depending on a loan amount you may get better or worse conditions from the lenders. The more money you are applying for the more stringent requirements must meet and the lower your chances to be approved. You can borrow from $600 to $100,000 in MA.
  4. One of the basic criteria for loan approval is your credit score. The lowest credit score acceptable in Massachusetts is Poor (300-579), but the rates can be higher than ones for the applicants with good and excellent scores (more than 670).
  5. Loans can be secured and unsecured depending on the presence or absence of collateral. The highest rates in Massachusetts go up to 35.99% and they are usually for the unsecured loans.

Best Massachusetts Lenders for Personal Loans

Use the following table for easy comparison of the main criteria of all the valid offers from Massachusetts' lenders. It helps to evaluate the offer and borrow money on the most expedient terms.

LenderAPRLoan AmountLoan termOrigination FeeScore RequiredApply
LightStream
6.49 - 21.99%$5,000 - $100,0002 - 6 yearsNo origination fee.From Fair (580-669) to Fair (580-669)Check rates
On partner's site
Marcus by Goldman Sachs
7.24 - 25.24%$3,500 - $40,0003 - 6 yearsNo origination fee.From Fair (580-669) to Excellent (740-799)Check rates
On partner's site
Upstart
5.6 - 35.99%$1,000 - $50,0003 - 5 years10%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
LendingClub
8.3 - 36%$1,000 - $40,0003 - 5 years3 - 6%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
SoFi
8.24 - 23.68%$5,000 - $100,0002 - 7 yearsNo origination fee.From Good (670-739) to Excellent (740-799)Check rates
On partner's site
Avant
9.95 - 35.95%$2,000 - $35,0001 - 5 years4.75%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
Prosper
7.95 - 35.99%$2,000 - $40,0003 - 5 years2.41 - 5%From Fair (580-669) to Excellent (740-799)Check rates
On partner's site
Best Egg
7.99 - 35.99%$2,000 - $50,0003 - 5 years0.99 - 8.99%From Good (670-739) to Good (670-739)Check rates
On partner's site
Credible
5.4 - 35.99%$600 - $100,0001 - 7 yearsDepends on the lenderFrom Good (670-739) to Excellent (740-799)Check rates
On Credible.com
Upgrade
8.49 - 35.99%$1,000 - $50,0003 - 5 years1.85 - 9.99%From Poor (300-579) to Fair (580-669)Check rates
On partner's site

5 Hints to Get Approved for a Personal Loan in Massachusetts

  1. Do your best to increase your credit score by missing any late payments and low utilization of your credit limit. You still may find offers in MA for Poor (300 - 579) credit score, but be ready the rates and origination fee are above the average.
  2. Make more money. Your income directly affects your chances of getting a loan. Pay raise or part-time job may increase your income and significantly improve your odds.
  3. Find a co-signer, someone you trust. He will pay off your debts if you default.
  4. Do not apply for credit too often. Lenders are more willing to lend to those who rarely ask for borrowed money.
  5. Pay off your debts before searching for a new one. The less money you owe the more chances to get the personal loan.

FAQ

What company is the easiest to get a personal loan in Massachusetts?

Use the “Search for Best Loan” bar to filter lenders' offers with low credit score requirements and smaller borrowing amount.

What credit rating do I need to be approved for a personal loan in MA?

A Poor (300-579) credit rating is acceptable in Massachusetts, but lenders prefer to deal with applicants with better credit scores.

Can I pay off my loan early in Massachusetts?

Lenders usually allow early repayment of the loan. However, to avoid penalties, carefully read the loan agreement before you sign it.
Myfin TeamMyfin Team

Author, editor

content@myfin.us

Loans in other cities in Massachusetts