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

Best Personal Loans in New Jersey

We have found 114 personal loans in New Jersey. Compare and choose the best loan for your purpose.

By Myfin Team
Updated December 09, 2022
Showing 114 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
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
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
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
7.99 - 35.99 %
Term
3 - 5years
Loan amount
$2,000 - $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
8.99 - 29.99 %
Term
2 - 5years
Loan amount
$5,000 - $40,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    5%
  • Funds available in:
    3-6 business days.
  • Loan Purpose:
    Personal Loan
  • 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.

See Payoff® 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
5.6 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $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
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
7.96 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    1.85 - 8.99%
  • 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 7.96% - 35.97%. All personal loans have a 1.85% to 8.99% 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.

Read full review

See Upgrade full product review
Check rates
On partner's site
Search for best loan
Showing 114 personal loans
Amount
$
Credit Score
City, state or Zip
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  • District of Columbia
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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 New Jersey

Showing 5 banks
Sort by: Branches
Branches 229 bank branches
Total Assets (US$M)1,712,535,000
Bayonne
500 Broadway, Bayonne, NJ, 07002
Friday: 9:00 AM - 5:00 PM
Bloomfield Brookdale
1080 Broad St, Bloomfield, NJ, 07003
Friday: 9:00 AM - 5:00 PM
Boonton Plaza
302 Wootton St, Boonton, NJ, 07005
Friday: 9:00 AM - 5:00 PM
Show all departments
Branches 219 bank branches
Total Assets (US$M)534,346,587
Avenel
1190 Saint Georges Ave, Avenel, NJ, 07001
Friday: 9:00 AM - 6:00 PM
Bayonne @ Stop & Shop
1 Lefante Way, Bayonne, NJ, 07002
Friday: 11:00 AM - 7:00 PM
Bloomfield Center
2 Broad St, Bloomfield, NJ, 07003
Friday: 9:00 AM - 5:00 PM
Show all departments
Branches 217 bank branches
Total Assets (US$M)405,223,010
Td Bank Bayonne
1066 Broadway, Bayonne, NJ, 07002
Friday: 8:30 AM - 7:00 PM
Td Bank Bloomfield
1476 Broad Street, Bloomfield, NJ, 07003
Friday: 8:30 AM - 7:00 PM
Td Bank Fairfield
436 Hollywood Avenue, Fairfield, NJ, 07004
Friday: 8:30 AM - 7:00 PM
Show all departments
Branches 201 bank branches
Total Assets (US$M)2,440,022,000
Bayonne 32nd St
701 Broadway, Bayonne, NJ, 07002
Friday: 9:00 AM - 4:00 PM
Boonton Township
100 Powerville Rd, Boonton, NJ, 07005
Friday: Closed
Cedar Grove
508 Pompton Ave, Cedar Grove, NJ, 07009
Friday: Closed
Show all departments
Branches 196 bank branches
Total Assets (US$M)3,380,824,000
Avenel
1342 St Georges Ave, Avenel, NJ, 07001
Friday: 9:00 AM - 5:00 PM
Bayonne 30th St
650 Broadway, Bayonne, NJ, 07002
Friday: 9:00 AM - 5:00 PM
Fairfield Passaic
387 Passaic Ave, Fairfield, NJ, 07004
Show all departments

Personal Loans in New Jersey

NJ residents may be eligible for a variety of personal loan offers, depending on their income, credit experience, and other variables. In order to obtain the best personal loan terms for you, consider the following list of criteria:

Annual percentage rate

APR combines the compound interest rate and most fees. This will basically determine the amount you will have to repay for one year on top of the principal.

Loan amount

Bigger loans imply higher rates and stricter requirements. Some companies offer flexible loans, where you can demand and pay interest for only parts of the loan. This comes in handy when it’s hard to gauge exactly how much money is needed in your case.

Loan term

The loan term is the time frame for you to return the loan. A longer term, all other things being equal, means fewer monthly payments in return for more overall expenses.

Monthly payment

This is the payment you will have to make each month to avoid extra fees. You should ascertain that your monthly income, minus the other expenses, covers this comfortably.

Qualifications

Your credit score constitutes the primary limitation for receiving any kind of loan. A high rating will greatly expand your opportunities and improve the chances of approval for higher loans under more favorable conditions. The minimum credit score accepted in New Jersey is 300 - 579 (Poor). Your annual income is also hugely important.

Collateral

Typically, personal loans come unsecured, that is, not contingent on collateral. You can sometimes carve out a better interest rate by depositing a collateral; this is known as a secured personal loan. The lender in this scheme incurs less financial risk, which otherwise allows for more favorable conditions for the borrowing side.

Origination fee

In most cases, you will be charged an additional one-time processing fee. This is normally expressed as a fraction of the total sum of the loan. A few lenders, such as LightStream, hand out personal loans without origination fees.

What Do You Need to Apply for a Personal Loan?

First of all, gather the necessary documents to prove your identity and reflect your financial circumstances. The exact requirements vary from one offer to another. Typical papers include personal ID, proof of residence, and employee status. Additional requirements that can apply are the initial processing fee and/or a collateral deposit.

If you are not sure whether you qualify for a particular loan and don’t want to waste time, don’t miss preliminary qualification wherever available.

Best New Jersey Lenders for Personal Loans

At the moment, LightStream offers extremely lucrative loans starting from $5,000 with the lowest APR on the market and a 0% origination fee. For smaller loans, consider Upstart, with APR sometimes as low as 5.6 and origination fees beginning at a symbolic 0.01%.

To show details of the currently available offers, we have compiled a table comparing several major lenders operating in the state on some essential parameters:

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
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
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
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
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
Payoff®
8.99 - 29.99%$5,000 - $40,0002 - 5 years5%From Good (670-739) 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
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
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
Upgrade
7.96 - 35.97%$1,000 - $50,0003 - 5 years1.85 - 8.99%From Poor (300-579) to Fair (580-669)Check rates
On partner's site

Simple Tips for Increasing Personal Loan Approval Odds in New Jersey

Improve your credit score

The main way to improve your standing with lending institutions is by building a high credit score. The following practices should ensure the eventual improvement of your credit:

  • Always pay on time. This is the sine qua non of borrowing money.
  • Don’t get too deep into your credit limit. Pay off your previous debt first before making new purchases.
  • Don’t hesitate to dispute credit reports that contain mistakes. Data have shown that about 20% of credit reports fall in this category. If you think your score was lowered unfairly, file a complaint.

Raise your income

As you advance in your career and increase your pay, banks will become more willing to lend greater sums to you. This obviously doesn’t happen overnight and only comes into consideration if you can plan fairly far ahead.

Apply for pre-qualification

Many lenders let you submit your application in advance to produce a quick estimate of your eligibility.

Get rid of existing debt

When you already owe money to someone else, this will worsen your chances of borrowing more. Try not to get over your head and close your existing loans, if possible.

Be realistic with your expectations

Do not apply for a larger sum than necessary. Smaller loans carry less financial risk, which makes them more attractive to lenders.

Find a joint applicant

A joint applicant is someone who shares the rights and responsibilities for the loan. As such, their qualifications are taken into account while reviewing your application. However, you must ensure that the co-applicant understands the risks involved.

FAQ

What company is the easiest to receive a personal loan in New Jersey?

At present, LendingClub, Avant, LLC, Upstart, and Upgrade, Inc all tolerate subpar credit scores. For more info, refer to the above table.

What credit rating do I need for a personal loan in New Jersey?

You must have at least a Poor (300 - 579) rating.

Can I pay off my loan early in New Jersey?

While it is always possible, many lenders charge a prepayment penalty in such a case to account for some of the lost interest.
Myfin TeamMyfin Team

Author, editor

content@myfin.us

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