Prosper Personal Loan Review

Personal Loan from Prosper - see full info about rates, terms, credit score.

Updated February 08, 2023
Advertiser Disclosure
2.36 out of 5
Check rates
On partner's site

Check your personal loan rates

scorer
APR Range
7.95 - 35.99%
scorer
Amount
up to $40,000
scorer
Term
up to 60 months
scorer
Minimum credit score:
Fair (580-669)
scorer
No early payoff penalty
See full info about rates in different states

We recommend more loans

LightStream
LightStream
Personal Loan
5.99 - 21.49 %
APR
2 - 6 years
Loan Term
$5,000 - $100,000
Loan Amount
Check rates
On partner's site
Marcus by Goldman Sachs
Marcus by Goldman Sachs
Personal Loan
6.99 - 24.99 %
APR
3 - 6 years
Loan Term
$3,500 - $40,000
Loan Amount
Check rates
On partner's site
Upstart
Upstart
Personal Loan
5.6 - 35.99 %
APR
3 - 5 years
Loan Term
$1,000 - $50,000
Loan Amount
Check rates
On partner's site
On partner's site
Check rates

Options

  • Loan purpose:
    Personal Loan
  • Lender:
    Prosper Funding, LLC
  • Bank:
    WebBank
  • Credit Level:
    Fair (580-669)
  • When funds are available:
    1 business day.

Fees

  • Origination fee
    2.41 - 5%
  • Late fee
    $15
  • Check processing fees
    $5
  • Returned check fees
    $15

Pros & Cons

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

Rates

Rates
7.95 - 35.99%
Term
36 - 60 months
Loan Amount
$2,000 - $40,000
List of states where Prosper loan is not available:
  • Iowa
  • West Virginia
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.
View all Rates & Fees

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 640 or higher.
  • Ages

    To qualify, you must be at least 18 years old.

  • Requirements Description
    • Personal information (name, address, phone number, and email)
    • Minimum credit history: 2 years
    • No bankruptcies filed within the past year
    • Social Security number and a U.S. bank account

Check loans from other lenders

Payoff®
Payoff®
Personal Loan
2.66 out of 5
Recommended credit score
bank name
Good (670-739)
  • 8.99 - 29.99 %
    APR
  • 2 - 5 years
    Loan Term
  • $5,000 - $40,000
    Loan Amount
Check rates
On partner's site
LendingClub
LendingClub
Personal Loan
3.73 out of 5
Recommended credit score
bank name
Poor (300-579)
  • 8.3 - 36 %
    APR
  • 3 - 5 years
    Loan Term
  • $1,000 - $40,000
    Loan Amount
Check rates
On partner's site
SoFi
SoFi
Personal Loan
5 out of 5
Recommended credit score
bank name
Good (670-739)
  • 7.99 - 23.43 %
    APR
  • 2 - 7 years
    Loan Term
  • $5,000 - $100,000
    Loan Amount
Check rates
On partner's site

Description

  • 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.

Another popular loans for you
Avant
Avant
Personal Loan
3.45 out of 5
Check rates
On partner's site
Best Egg
Best Egg
Personal Loan
2.97 out of 5
Check rates
On partner's site
OneMain Financial
OneMain Financial
Personal Loan
2.5 out of 5
Check rates
On partner's site