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Best personal loans for 2026
Compare your personal loan options. Roost looks at loan amount, credit score, and APR to help you find the best loan product for you.
What is the best personal loan?
The best personal loan for 2026 is SoFi, provided that you have a credit score of over 670 along with an adequate income. This lending company offers rates as low as 8.99 percent. While LendingTree and PersonalLoans.com may be able to provide lower rates, they work with a variety of lenders and may not be able to connect you with a suitable lender at the time you apply for a personal loan.
Product details
- No origination fees.
- No pre-payment fees.
- No late fees.
- Fixed rates from 8.99% to 35.49% APR (with AutoPay**).
- Mobile App enables access to your loan.
To qualify:
- You are at least the age of majority in your state and able to enter into a binding contract.
- You are a US citizen, permanent resident or visa holder.
- Need to have a credit score of 670, typically look for 700 or higher…
- Minimum annual income of $45,000.
Fixed rates from 8.99% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 04/24/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
**Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
Product details
- View your offers in minutes.
- Low, fixed-rates, so the rate will never go up on you.
- No prepayment fees, so you can pay your loan off at any time.
- Payment flexibility; you can change your payment date to work best for your budget.
- Rate discount for autopay.
- Allows secured, co-signed and joint loans.
To qualify:
- Minimum credit score: 580.
- No minimum annual income, however average borrower is over $85,000.
- 3 years minimum credit history.
- Monthly cash flow of $800+
Terms and conditions:
Personal Loan Upgrade Disclaimer:
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.74%-35.99% and a 1.85%-9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For certain discounts, collateral may be required. Repayment terms from 24 to 84 months. For example, if you receive a $10,000 unsecured 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 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 and other terms of your loan may vary and you may not be presented with multiple offers. If offered, your loan terms, including your rate, will depend on credit score, credit usage history, loan amount, and other factors. Late payments or other fees, as noted in your Borrower Agreement, may increase the cost of your fixed rate loan. Certain loan offers may not be available in all states.
Product details
- Borrowers with little or no credit can apply.
- Available in all 50 states.
- 99% of applicants get money just 1 business day after accepting their loans*
- No prepayment penalty: You may pay off part or all of the loan at any time with no fee.
To qualify:
- Minimum credit score: 580.
- Minimum income of $12,000/year.
- Proof of employment or offer thereof.
- Have a current bank account and email.
Terms and conditions
* If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.
^The full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 20.10% and a 8.53% origination fee of $853, for an APR of 24.65%. In this example, the borrower will receive $9,147 and will make 60 monthly payments of $267. APR is calculated based on 5-year rates offered in June 2025. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Product details
- Offers wide range of loan options.
- Offers joint applications.
- Funds available in as few as four days.
- Soft credit check.
- Does not affect your credit score with pre-qualification
- Requires an origination fee of 1% – 6% of the loan amount
To qualify:
- Minimum credit score: 600+
- Minimum 18 month credit history
- Adding a co-borrower may qualify you for lower rate
- Maximum Debt to Income (DTI) 60%. 40% for joint applications
- Budget to cover new loan after existing debts and living expenses
Terms and conditions
Between April 2022 and June 2022, 35% of Personal Loans issued by LendingClub Bank were funded within 24 hours after loan approval. The time it takes for a loan to be funded is not guaranteed and individual results vary based on multiple factors, including but not limited to investor demand.
Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history.
Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, term length, and making payments as agreed.
A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,234 for a term of 36 months, with an interest rate of 13.24% and a 6.00% origination fee of $1,154 for an APR of 17.63%. In this example, the borrower will receive $18,080 and will make 36 monthly payments of $650. Loan amounts range from $1,000 to $60,000 and loan term lengths range from 24 months to 84 months. Some amounts, rates, and term lengths may be unavailable in certain states.
For Personal Loans, APR ranges from 7.04% to 35.99% and origination fee ranges from 0.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of July 11, 2025 and are subject to change without notice.
Best personal loans: FAQs
How do personal loans work?
Most often, personal loans are unsecured loans, and the lender deposits the funds directly to your bank account. Usually, they are not applied directly to your debt or towards what the loan is for, such as a vacation down payment. It is up to you to make sure the funds loaned to you are applied to the proper debt or payment.
Do personal loans require collateral?
Most personal loans do not require collateral. The most common loans that involve collateral include vehicle and home loans. Personal loans are not secured. If you default, it will negatively affect your credit, and the lender can sue you for the balance plus interest and court fees.
What can I get a personal loan for?
Personal loans are personal. While a lender may ask what the funds will be used for, the funds can be used in any manner you choose in most situations. That said, most consumers use personal loans to pay off high-interest debt such as credit or store cards.
How do I get a personal loan with bad credit?
If your credit score is below 550 or so, you may have a difficult time finding a loan with competitive terms. If your income is inconsistent, it will be even more difficult. Loans to consider if you have bad credit include private loans or short-term payday loans. If you have a kind friend or family member who can loan you money, write up a written agreement and pay back the loan like you would any other type of loan. Payday loans are not recommended unless you really only need the loan for one week.
Where can I get a personal loan?
You can apply for a personal loan through online lenders such as Personalloans.com, SoFi, Upstart or LendingTree. You can also apply for a personal loan through your bank or credit union. If you have a good credit score, your bank or credit union may be willing to provide you with a low-interest loan. Online lenders might charge a bit more for interest but often lower than credit card rates.
Can I refinance a personal loan?
If you have good credit, you can refinance personal loans as well as other types of loans. You may even be able to refinance with your current lender. If you are in a better financial situation than you were when you took out the loan, you may be able to get a new loan with better terms.