Upstart is for individuals with high credit scores who want to consolidate debt. This service offers customers a wide array of flexible options, which range from small to large loan amounts, competitive interest rates, and 3 to 5 year terms. With Upstart, consumers face zero prepayment penalties and can apply within minutes.
Best For People Who
Want to lower their interest rate
Wish to resolve their debt obligations as an alternative to bankruptcy, debt settlement, or credit counseling
Are looking to borrow up to $50,000
No accounts that are currently delinquent on credit report
No bankruptcies or public records on credit report
Reside in any U.S. state except IA or WV
*The average 3-year loan on Upstart will have an APR of 19% and 36 monthly payments of $35 per $1,000 borrowed. There is no down payment and no prepayment penalty. **The average APR on Upstart is calculated based on 3-year rates offered in the last 1 month. Your APR and loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
OneMain Financial provides personalized loan solutions and one-on-one, local service at more than 1,500 branches with operations in 44 different states. They offer personal loans up to $20,000 for multiple uses, including bill consolidation, home improvements, unexpected expenses and more. Customers can depend on a secure and straightforward personal loan application, clear terms and flexible payment options.
Best For People Who
Are looking to borrow $1,500 - $20,000*
Want a fixed rate and fixed monthly payment
Would like simple, clear terms with no prepayment penalties
No active bankruptcy claims
Reside in any U.S. state except AK, AR, CT, DC, MA, RI, VT
Responsible credit history
Sufficient income after monthly expenses
Availability of collateral, if applicable
OneMain may also use other qualifications not listed above
*Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $400. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes:Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000.Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $14,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender
DebtMD receives compensation from it lending partners. Compensation may affect the placement and presentation of the lenders and offers that are presented to you on the website. DebtMD is not a lender in any transaction and does not make loans. All credit decisions, including loan approval and the conditional rates and terms you are offered, are the responsibility of the lender partners and will vary based upon your loan request, your particular financial situation, and criteria determined by the lenders to whom you are matched. Not all consumers will qualify for the advertised rates and terms.
Prosper is ideal for individuals with high credit scores who want fixed rate personal loans. This lending platform offers customers low origination fees, zero prepayment penalties, and competitive interest rates. With Prosper, customers can borrow, consolidate, and save.
Wish to pay off their debt with fixed 3 or 5 year terms
Are looking to borrow up to $35,000
Minimum two years of credit history
No bankruptcies filed within the past year
Reside in any U.S state except IA, WV
For example, a three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.9. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 2.41%-5%. Personal loan APRs through Prosper range from 7.95% to 35.99%, with the lowest rates for the most creditworthy borrowers.
Eligibility for personal loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank, Member FDIC.
SoFi's mission is to help people reach financial independence to realize their ambitions. They have funded $45 billion+ in loans, have over 1,000,000 members, and have helped consumers pay off $22 billion in debt.
Best For People Who
Wish to borrow up to $100K at a low fixed rate
Want a simple online application process and access to live customer support 7 days a week
Would like the added benefits of having no origination or late fees and no prepayment penalty
Must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days
Have a responsible financial history with stable income
Must reside in a state where SoFi Lending Corporation is authorized to lend
¹Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.orgOpens A New Window.)
To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.