If you want to consolidate your debt, make a big purchase, or cover any other sort of expense, a personal loan is one of your best options, given that it comes with a fixed APR, fixed monthly payments, a set payoff period. If you are not sure of what the best personal loans out there are, read on! We’ve listed the top personal loans, with the most affordable interest rates, here:
This fee-free online lender offers personal loans with a starting APR of just 3.99%, while the maximum APR can go up to 19.99%. The lender offers loans to prospective borrowers for pretty much any purpose except to consolidate student loan debt or pay post-secondary education costs. You can borrow any amount ranging from as low as $5,000 to as high as $100,000. Loan terms, which range between 24 and 144 months, are also extremely flexible.
Marcus by Goldman Sachs
If you prefer taking a loan from a traditional bank, Marcus by Goldman Sachs is a good option because the loans are issued by Goldman Sachs Bank USA. You can opt for a loan amount ranging from $3,500 to $40,000 and use it for pretty much any purpose except paying off your educational expenses and student loans. The APRs start at around 6.99% and go up to 19.99% Loan terms can range between 36 and 72 months, but rates tend to be higher for longer-term loans.
SoFi is another online lender that offers low-interest personal loans to creditworthy borrowers. APRs can range between 5.99% and 20.69%. If you have a strong monthly income and responsible financial history, the lender may be willing to offer you a really competitive rate. Like LightStream, the lender offers loans up to $100,000. Funds are usually available within a few days after you receive the approval notification. Apart from attractive rates, the lender also offers a number of financial resources that will help you stay on top of your budget and finances. If you lose your job during the loan term, the lender may allow you to pause your payments for around a year.