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Best Personal Loan Lenders of October 2025

Jackie Veling
Kim Lowe
Jackie Veling
+1
Written by 

Jackie Veling

,  Edited by 

Kim Lowe

Written by 

Jackie Veling

 and 
1 other
Last updated 10/16/2025
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Compare the best debt consolidation loans for you, in one place

Best for no fees and fast approval

2025 NerdWallet award winner

Discover
NerdWallet rating

5.0

Est. APR

7.99 - 24.99%

Loan amount

$2.5K - $40K

Min. credit score

660

Loan term

3 to 7 years

Read review

Our take on Discover® Personal Loans

With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit. Read our review of Discover® Personal Loans

Best for co-sign loans

2025 NerdWallet award winner

Upgrade
NerdWallet rating

5.0

Est. APR

7.74 - 35.99%

Loan amount

$1K - $50K

Min. credit score

600

Loan term

2 to 7 years

Get My Rate

Our take on Upgrade

Upgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts for its personal loans. Read our review of Upgrade

Best for debt consolidation loans

2025 NerdWallet award winner

Lending Club
NerdWallet rating

5.0

Est. APR

7.90 - 35.99%

Loan amount

$1K - $60K

Min. credit score

600

Loan term

2 to 7 years

Get My Rate

Our take on LendingClub

A LendingClub personal loan is a standout option for qualified borrowers who want to pay off debt with flexible terms. Read our review of LendingClub

Best for borrowers with bad to fair credit

Universal Credit
NerdWallet rating

4.5

Est. APR

11.69 - 35.99%

Loan amount

$1K - $50K

Min. credit score

560

Loan term

3 to 5 years

Get My Rate

Our take on Universal Credit

A Universal Credit personal loan may be a smart choice for borrowers with lower credit scores who want to consolidate debt. Read our review of Universal Credit

Best for home improvement loans

2025 NerdWallet award winner

Lightstream
NerdWallet rating

4.5

Est. APR

6.49 - 24.89%

Loan amount

$5K - $100K

Min. credit score

660

Loan term

2 to 7 years

Get My Rate

Our take on LightStream

LightStream is a solid option for good- and excellent-credit borrowers, with no fees and a promise to beat competitors’ rates. Read our review of LightStream

Best for secured personal loans

BestEgg
NerdWallet rating

4.5

Est. APR

6.99 - 35.99%

Loan amount

$2K - $50K

Min. credit score

600

Loan term

3 to 5 years

Get My Rate

Our take on Best Egg

Best Egg is worth considering for borrowers looking for a secured loan or to consolidate debt. Read our review of Best Egg

Best for borrowers with short credit histories

Upstart
NerdWallet rating

4.5

Est. APR

6.70 - 35.99%

Loan amount

$1K - $75K

Min. credit score

None

Loan term

3 to 5 years

Get My Rate

Our take on Upstart

Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases. Read our review of Upstart

Best for large loan amounts

2025 NerdWallet award winner

SoFi
NerdWallet rating

4.5

Est. APR

8.99 - 35.49%

Loan amount

$5K - $100K

Min. credit score

None

Loan term

2 to 7 years

Get My Rate

Our take on SoFi Personal Loan

SoFi offers large online personal loans with consumer-friendly features for good- and excellent-credit borrowers. Read our review of SoFi Personal Loan

Best for range of loan amounts and terms for members

First Tech Credit Union Personal Loan
NerdWallet rating

5.0

Est. APR

7.89 - 18.00%

Loan amount

$500 - $50K

Min. credit score

None

Loan term

6 months to 7 years

Get My Rate

Our take on First Tech Credit Union Personal Loan

First Tech Credit Union personal loans are a solid option for members seeking maximum flexibility. Read our review of First Tech Credit Union Personal Loan

Best for range of loan amounts and terms for bank customers

U.S. Bank Personal Loan
NerdWallet rating

5.0

Est. APR

8.74 - 24.99%

Loan amount

$1K - $50K

Min. credit score

680

Loan term

1 to 7 years

Get My Rate

Our take on U.S. Bank Personal Loan

U.S. Bank customers can access a wide range of personal loan amounts and fast funding. Non-customers may qualify, but they won’t get the same perks. Read our review of U.S. Bank Personal Loan

Best for fast funding for credit union members

PenFed Credit Union Personal Loan
NerdWallet rating

4.5

Est. APR

8.99 - 17.99%

Loan amount

$600 - $50K

Min. credit score

None

Loan term

1 to 5 years

Get My Rate

Our take on PenFed Credit Union Personal Loan

PenFed offers a wide range of loan amounts and fast funding to its members. Read our review of PenFed Credit Union Personal Loan

Best for existing customers with good credit

Citibank
NerdWallet rating

4.5

Est. APR

9.99 - 19.49%

Loan amount

$2K - $30K

Min. credit score

Undisclosed

Loan term

1 to 5 years

Read review

Our take on Citibank

Citibank personal loans come with no fees and multiple rate discounts, but you may find more flexible options elsewhere if you have strong credit. Read our review of Citibank

How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

30+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

60+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
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Calculate your payment

See how different loan amounts, rates, and terms affect your monthly payment

Estimated monthly payment

$309.92

Total interest over 3 years

$1,156.95

Total loan payment

$11,156.95

Loan amount

$10,000

Interest rate

7.25%

Loan term (years)

3

PRINCIPAL AMOUNT — $10,000TOTAL INTEREST PAID — $1,156.95
90%
10%

What the nerds think

Expert take: How to find the best lender for you

"Finding the best lender takes some legwork, but it mostly comes down to two things: what you can qualify for and what type of loan you want. I recommend starting with eligibility requirements. For example, if you have bad credit, start with lenders that have low minimum credit score requirements. Once you have a few choices, drill down further into loan amounts and repayment terms, to make sure they offer the type of loan you need. You can also keep an eye on perks, like direct payment to creditors if you’re consolidating debt. But the most important tip of all: Pre-qualify, pre-qualify, pre-qualify. Then pick the lender that gives you the best offer, which usually means the lowest rate."
Jackie Veling's profile picture
Jackie VelingLead Writer & Content Strategist

How do personal loans work?

Personal loans are a type of installment loan you borrow from an online lender, bank or credit union that can be used for almost anything. These loans are repaid monthly with fixed interest.
Loan amounts: Most personal loan lenders offer small to midsize loans of $2,000 to $50,000. Some may have a maximum loan amount of $100,000. Depending on the amount you borrow, a personal loan can help with small unexpected expenses, debt consolidation or a large home improvement project.
Repayment terms: Personal loans tend to come with term lengths of two to seven years, though some lenders may offer longer terms for larger loan amounts. A shorter-term loan means you’ll pay less interest, while a longer repayment term gives you lower monthly payments.
Annual percentage rates: The loan’s APR includes interest and fees, making it the best way to compare affordability among loan options. The lower the APR, the less expensive the loan. Unlike variable-rate products such as credit cards, personal loans have fixed rates, so the APR won’t change over the life of the loan.
Fees: Some personal loans have origination fees to cover the cost of processing the loan. This fee is included in the APR and often deducted from the loan funds. Lenders may also charge a late fee for late payments or a nonsufficient funds fee if you don’t have enough money in your bank account to cover the total amount of a payment. Setting up autopay and keeping an eye on your checking account can help you avoid these fees.
Prepayment penalties: It’s rare for a lender to charge a prepayment penalty for paying off a personal loan early. This is important, since paying the loan off as soon as possible can save you money on interest.
Funding time: The time it takes to get a personal loan varies by lender, but some online lenders can approve your application in minutes and provide same-day funding or fund a loan on the next business day. Other lenders, like banks or credit unions, may take a few days.

How to qualify for a personal loan

Personal loans are typically unsecured loans, meaning they don’t require collateral to back the loan. Instead, lenders look at the information on your loan application to determine eligibility.

Creditworthiness

Your credit score and credit history are two of the most important factors for getting approved for a personal loan. Though lenders are most likely to approve borrowers with good credit or higher (a score in the mid 600s and up), borrowers with fair or bad credit can still qualify. They just may receive a high interest rate.
Lenders also consider the length of your credit history and prefer to see at least two years across one to two accounts.

Debt-to-income ratio

Debt-to-income ratio, or DTI, is another important consideration for loan approval. This measures your monthly debt payments against your gross monthly income. If you have too much debt compared to your income, a lender may not approve you. Most lenders prefer applicants with a DTI between 40% to 50% (excluding mortgage).
» MORE: Calculate your debt-to-income ratio here

Loan details

Information about the loan can also influence your loan decision. For example, a larger loan with a long term is often harder to get approved for, since it means more risk for the lender. Choosing the minimum loan amount you need to cover the expense may be a better option.
» MORE: See your estimated payment amount with NerdWallet’s loan calculator
You may also choose to apply for a co-signed, joint or secured loan, which can help boost your application by adding someone with better credit to the loan or guaranteeing the loan with collateral, like your car.

Pre-qualification

It’s smart to pre-qualify for a personal loan to check your chances of approval and what loan interest rate you may get. This helps you compare loan offers between different lenders, too. Though you’ll need to provide your Social Security number, there’s no impact on your credit score.

Frequently asked questions

Learn more about personal loans