Best Personal Loans of June 2021

Last updated Jun 10, 2021 | By Becca Borawski Jenkins

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Personal loans can be used to finance large purchases, consolidate debt, and much more. Personal loans can be a valuable tool in helping you achieve your financial and lifestyle goals, no matter what those goals might be. You might be drowning in debt and looking for a solution, or you might just be interested in a wedding loan or a loan for an RV.

Personal loans typically come with varying repayment term lengths, often between two and five years, and lenders may disburse funds in as little as one business day. You may want to know how to get a loan like this, but before you decide on the best personal loan for you, take some time to compare the personal loan offers from these top-rated personal loan lenders to find the rates and terms that will work for you.

In this article

Best personal loans

Best personal loan for large loans: LightStream

If you are looking for a large personal loan, LightStream could be your best option. LightStream is a division of SunTrust Bank and offers personal loans up to $100,000. But that doesn’t mean you’ll necessarily have high payments, as it also offers terms up to 12 years in length.

It’s important to be aware that unlike some other personal loan companies, LightStream will do a hard credit pull before approving you. On the positive side, if you are not completely satisfied with your LightStream loan, you could get $100, thanks to its 30-day satisfaction guarantee.

Lightstream Benefits

  • Apply in minutes and have funds in your account as soon as today¹
  • $100 Loan Experience Guarantee²
  • They will beat any qualifying rate from other lenders!³

Best personal loan for financial support: SoFi

Although SoFi offers a wide range of personal loans when it comes to the amount and the terms, it really shines when it comes to the financial support offered to its clients. It provides an in-depth resources section on its website that covers everything from budgeting and investing to how to deal with financial stress.

Additionally, SoFi understands that part of achieving your financial goals may involve career challenges. It provides career coaching and job search assistance, and it also offers unemployment protection that allows you to suspend your personal loan payments if you lose your job through no fault of your own. It also offers autopay discounts on certain personal loan products.

Best personal loan for good credit or excellent credit: Marcus by Goldman Sachs

Marcus by Goldman Sachs could be the right personal loan for you if you are in the good and/or excellent credit score range. Marcus loans have no origination fees and no prepayment penalty if you want to pay off your loan early. You’ll also have the freedom to adjust your due date and manage your loan via your mobile device, whether you have an iOS or Android device. They also offer a competitive range of interest rates.

Marcus Benefits

  • Personal loans up to $40,000
  • No origination fee, prepayment fee, or late fee - You only pay interest for the additional days
  • Tailored monthly payment options designed to fit your budget
  • Marcus is backed by over 150 years of Goldman Sachs' financial expertise

Best personal loan for small loans: Upstart

Sometimes a small amount of money can make a big difference in life. With Upstart, you can borrow as little as $1,000. Like most of the companies on our list, Upstart offers a pre-approval process that runs only a soft credit check, so you don’t have to worry about damaging your credit score by exploring your personal loan options.

Best personal loan for secured personal loan: Avant

Most personal loans are unsecured, which means there is nothing you’re offering to the financial institution as collateral in the event you can’t pay back your loan. This means you sometimes can’t get approved for the amount you need or at an interest rate that is affordable.

Avant is different in that it offers secured loans. Through Avant you can borrow money based on the value of your automobile and this may help you save money on your loan in the long run. Avant also has an app for iOS and Android to make managing your loan easy.

Best personal loan for fair to bad credit: Upgrade

Sometimes life gets challenging and our credit score can take a hit. There’s nothing wrong with having a bad credit history, but it can make it harder to get a loan because some lenders require a minimum credit score. Upgrade is a personal loan provider that’s known for lending to people with fair credit to poor credit. Upgrade’s pre-approval process will only require a soft credit check, which won't appear on your credit report. So you don’t have to worry about lowering your credit score further just by exploring your personal loan options.

Upgrade Benefits

  • Personal loans up to $50,000
  • No fees for prepayment
  • Free credit monitoring and educational resources

Best personal loan for paying high-interest credit card debt: Payoff

Although you can use a personal loan from just about any of the companies on our list to pay off credit card debt, Payoff personal loans are specifically designed for this purpose. Additionally, Payoff is very transparent about how its loans work, the loan terms that are potentially available, and its credit score requirements. If you’re looking for a straightforward way to refinance your credit card debt, Payoff could be a good online lender for you.

Payoff Benefits

  • Payoff your Credit Cards Faster
  • Check your rate in as little as 3 minutes
  • One Simple Monthly Payment

Best personal loan for peer-to-peer lending: Prosper

When we think of personal loans, we mostly think of borrowing from financial institutions such as a bank or credit union. Prosper is different in that it is a peer-to-peer lender. With peer lending, the money comes from individual investors (even someone just like you), not a bank, and this makes peer-to-peer lending more flexible. If you’re curious what kind of loan terms you could get by looking beyond traditional banks, Prosper could be a good fit for you.

Prosper Benefits

  • Get a loan with a low, fixed rate that never goes up
  • Your loan, tailored to you
  • Checking your rate will not affect your credit score

Best places to shop for a personal loan

Smart shopping can pay off when it comes to deciding on your personal loan. Thankfully, there are services that make comparing personal loan rates and terms easier for us. These services are free to use and can connect you to a wide range of lenders you might not even be aware of:


AmOne is a trusted and reputable company that has been developing its service since it was founded in 1999. AmOne is unique in that it provides live assistance to borrowers so you can always call and speak with a loan expert.

AmOne Personal Loans Benefits

  • Loans from $1,000 to $50,000
  • Min. Credit Score: 600
  • APR: 3.49% - 35.99%
  • No Collateral Needed
  • APR as of April 2021

Personal Loan Pro

Using its large network of lenders, Personal Loan Pro can quickly show you a variety of loan options with competitive interest rates. Like the other services on this list, it only does a soft credit check for the pre-approval process, which means your credit score won’t be hurt.

Personal Loan Pro Benefits

  • Loans from $1,000 to $50,000
  • Min. Credit Score: 600
  • APR: 2.49% - 35.99%
  • Comparing Rates Does Not Affect Your Credit Score
  • APR as of April 2021


Founded in 2012, Credible is a lender marketplace based in San Francisco. Thousands of customers have received offers through Credible, and more than 280 partners, from Uber to Trunk Club, trust the company and use its services.

Credible Benefits

  • Loans from $600 to $100,000
  • Min. Credit Score: 600
  • APR: 2.49% - 35.99%
  • Comparing Rates Does Not Affect Your Credit Score
  • APR as of May 2021


Founded in 2015, Fiona is run by Even Financial, the leading search engine for financial services. Even though the company is relatively new, Fiona helped customers access more than $600 million in personal loans in 2019.

Fiona Benefits

  • Loans From $1,000 to $100,000
  • Min. Credit Score 600
  • APR: 4.99% - 35.99%
  • Compare Loan Offers In Less Than 60 Seconds
  • APR as of April 2021

6 things to know before you apply for a personal loan

Before you make any personal finance decision, it's important to understand what you're getting. Here are six things you should know if you're considering a personal loan.

1. Personal loans can be a great option for debt consolidation

If you’re trying to pay down debt, having multiple payments each month can make it challenging. A personal loan can help you combine your debts into one simple payment. Sometimes it can also mean you’re paying less overall interest on your debt as well.

2. Your credit score matters

The loan amount a lender will offer you, the repayment terms of that loan, and your annual percentage rate (the interest rate you’ll pay on the debt) will vary. Your creditworthiness is part of what determines these things. Other factors, like your debt-to-income ratio and annual income also come into play. If you apply for a loan now but you’re turned down or not offered an interest rate that you like, don’t give up. Work on improving your credit score and apply again in the future. You could be pleasantly surprised by lower interest rates.

3. Personal loans can help you raise your credit score

By making regular, on-time payments on your new personal loan, you can actually improve your credit score. In addition, lenders favor borrowers who have a mix of different types of credit lines. By getting a personal loan, you can add some diversity to your credit profile.

4. Personal loans aren’t always a great idea

Depending on the loan purpose, personal loans aren't necessarily a great idea. If you want to go on vacation, buy a car, or pay for school, then a personal loan might not be your best option. There are other ways you can pay for those things that will be less expensive in the long run. Consider opening a savings account and/or looking at student loans or auto loans.

On the other hand, personal loans are a great option for:

  • Debt consolidation
  • Paying down high-interest credit card debt
  • Covering your moving costs
  • Making home improvements or repairs
  • Paying off medical bills

Personal Loan Alternative 0% APR

Citi Double Cash Card

Citi Double Cash Card

Citi Double Cash Card


  • 0% intro APR on balance transfers for 18 months
  • 2% cash back on all purchases - 1% when you buy and 1% when you pay
  • No annual fee

5. Having a co-signer could be helpful

If you’re worried about qualifying for a personal loan or you simply want to get the best loan terms and lowest rate you possibly can, then talk to a trusted friend or family member about becoming a co-signer on your loan. Your co-signer will be legally responsible for your debt, just like you, but you’ll be the one making the payments.

Just remember to make those payments and never be late, or it could be both a financial and emotional strain on your relationship with your co-signer.

6. It’s important to read all the details

Some personal loans will charge origination fees or late fees. Some personal loans will charge origination fees or late fees. Most will offer fixed interest rates, but some will charge higher interest rates than others. Some will let you pay the loan off early and others won’t. You'll likely see minimum and maximum loan amounts as you compare your options. Every lender will operate a little differently, so it’s important that you understand all the details before you submit your loan application.

Don’t be afraid to ask questions and make sure you investigate all your options before you start the application process. Ultimately, this is your personal loan — so make sure it fits your goals, needs, and budget. The right loan for you is out there.

Our methodology

In determining our list of the best personal loan lenders, we looked at eight popular companies and evaluated them according to a set of criteria we consider critical to the consumer. We did not evaluate all companies in the category. We used editorial judgment to determine what use or user each loan would be best for.

FinanceBuzz evaluation criteria include:

  • Credit checks: We investigated whether a company requires a hard credit score inquiry versus a soft credit check.
  • Fees: A variety of fees were taken into account in our assessment. Fees evaluated included late payment fees, origination fees, and prepayment penalty fees.
  • Transparency around rates and terms: Whom the company would be a best fit for also took transparency around APR range, loan terms, and approval requirements into account.
  • Customer support and experience: Accounts were evaluated based on how the customer can access and manage the account (mobile app and/or web-based portal), as well as the methods by which the customer can communicate with support.
  • Education resources available: When researching companies and whom they would be a best fit for, we also looked at the educational and support resources provided.

Companies with personal loan interest rates over 36% and companies with more than 700 CFPB complaints were excluded from our list.

The companies included on the list for the best places to shop for personal loans are all current partners with FinanceBuzz. We did not evaluate all companies in the market.

The bottom line on personal loans

Like any financial decision, personal loans come down to being a personal matter. In many cases, a personal loan offers fast funding and can be a great financial choice if you know you’ll be able to make the payments, if you potentially will be paying less in interest over time, and if you plan to use your loan money responsibly.

Taking out a personal loan can actually bring you a great deal of financial freedom — and help you reach your personal goals while maintaining your bank account balance. Just be sure to shop around for the best personal loan rates and terms to find a product that suits your needs.

Loans Under 36% Benefits

  • Loan options up to $35K
  • Get matched with loans that fit your specific needs
  • No application fees or minimum credit score
  • Receive your loan as soon as the next day

Author Details

Becca Borawski Jenkins Becca has been living and traveling full-time in an RV since 2017. Her journey into finance was facilitated by her passions for minimalism, travel, and geographic arbitrage. She loves to write about saving money, saving for retirement, and cashback credit cards.