Best Personal Loans In 2024

Our choice:

Headquartered in San Francisco, Prosper is one of the few peer-to-peer online marketplaces of lenders, where investors meet borrowers, and is operating since 2005. 

Getting a loan from Prosper means that you are actually financed by a single private, a group of investors or institutions, not from Prosper, that limits to match you as a borrower with individual lenders, plus to handle the processing of the loans on behalf of consumers. This doesn’t mean there aren’t real people behind: indeed, on the company website, you can see how crowded the company staff is.

The main difference from web-based lending companies is that you can compare different loan offers simultaneously. Another advantage is that even if you have fair credit, you can qualify, a thing that most top lenders tend to not consider at all.

Also recommended

LightStream: best for good credit

Credible: best for affordable rates

Avant: best for fair credit

Monevo: best for poor credit best for short-term loans

Prosper loans are backed by WebBank, and your online safety of transactions is assured by always updated security technologies.

The company service is available to 48 of US, with the exclusion of Iowa and West Virginia.

Through Prosper you take unsecured personal loans , that you can use to finance a comprehensive range of needs, such as home improvement , big purchases, a whatever emergency such as car repair or medical / dental bills, vacation, etc. Prosper also offers the debt consolidation option, which is actually one of the most used products among Prosper consumers.

Besides, the Prosper Healthcare Lending division is specialized in medical loans, offering support to deal with medical expenses, if your healthcare servicer is eligible.

In case you are interested, Prosper can also provide short-term & bridge loans, car loans , small business loans , and a few more specific loans for adoption, engagement ring purchase, special occasions, “green loans” and military.

If you need a larger sum, you may even consider Prosper home equity lines of credit (HELOC).

This plethora of products, along with the multiple lenders’ offers that lie ahead to consumers, make Prosper one of the most complete loans servicers out there.

Aside from the conventional personal loans, with Prosper, you can consolidate your debt from credit cards into a unique loan with a lower single interest rate and a unique payment schedule (fixed monthly payments) toward a set term, so that you stay on track with your payments and have peace of mind. In comparison with using credit cards for financing your expenses, debt consolidation from Prosper would have the following benefits:

  • A fixed interest rate that won’t change, so that you can confidently budget your future payments
  • No more multiple accruing interests
  • A known payoff date, whereas you had different due dates for every single withdrawal from credit cards

What are Prosper loans rates and terms?

The company considers relevant your capability of making repayments, regardless of your income: credit history tells the company how much you are reliable. But those requirements may not be easy to meet.

The amount you can borrow is normally capped at $ 40,000, which is generally enough for most people, to meet many of their various needs.

Prosper offer only two loan terms : either 3 or 5 years, however, these are generally the most used for personal loans, and many borrowers are just ok with these. A five years loan is going to be more expensive than a loan with a three-year term.

The rate structure is fixed, making sure that your selected number stays the same over the loan lifespan. Starting rates and fees are quite similar to the ones you find in most personal loan companies, although APRs on the high end of the spectrum are definitely higher: Prosper charges overall in a range of 7.95% -35.99%. Candidates with the best credit scores are the ones who get the lowest APRs.

The minimum credit score to qualify for a Prosper personal loan is 600: offers are tailored for borrowers with a fair or good credit score. This is a relevant factor, but not the only one that Prosper takes into account: it has a proprietary rating algorithm that derives a letter grade of assessment, from lots of applicants’ parameters, among which debt-to-income ratio. This tells investors, who are seeking to gain from interest if it’s convenient to grant you a loan or not, basing on the resulting risk.

Prosper makes it possible to take a joint loan with a creditworthy cosigner: this is great, because it enables you to qualify if you couldn’t because of bad credit, or still to access a better rate.

You have to consider there are also a few fees : in case of delay with payments, a late fee is charged, of the greater amount between $ 15 and the 5% of missed installment. There is a $ 15 insufficient funds fee if your bank account turns to have a deficit toward the repayments. An origination fee between 2.41% and 5% of the loan amount is applied as well, and it is deducted from the funds at the first deposit on your bank account: in the event that you asked for $ 10,000, let’s say a 3% fee would mean you receive $ 9,700.  Early repayments are encouraged, since there won’t be any penalty in such a case.

At a glance, here are several things to look at to understand if Prosper is the right choice for you.


  • Comparison of multiple offers at once
  • General customer satisfaction
  • Easy applicatioaFair credit borrowers allowed
  • Debt-to-income ratio up to 50% allowed
  • Possible use of a cosigner
  • No minimum income required
  • Preapproval with soft credit check available


  • Higher than standard APRs
  • An origination fee is charged
  • Slower than average approval and funding deadlinea

On one side of the medal, Prosper is open to borrowers with a fair credit score and current large utilization of one’s income for debt obligations; on the other side, it must charge higher rates to compensate for the major risk.

An uncommon perk of Prosper personal loans is that is possible to modify the due date of repayments under lots of circumstances, which might be useful, for instance, when dealing with an emergency, although it won’t be allowed to extend the loan overall term .

A major drawback of Prosper is that its rates can reach higher limits than those you find directly from lending companies. You can expect to be given a rate on the higher end of the offered range as much as your credit is lower, and the shorter and lesser clean your credit history is.

On top of this, there are the mentioned fees: the cost of a loan from Prosper is likely to reveal expensive for some borrowers, but this shouldn’t be an issue if you are wealthy.

If you can qualify for them, APRs on the lower end in the range offered from Prosper are competitive: if you have excellent credit, your loan cost will be definitely sustainable.

Prosper doesn’t shine as regards the flexibility of repayment terms: to choose only between 3 or 5 years may lack desiring greater freedom.

Since Prosper doesn’t allow to go beyond $ 40,000, you may just not be satisfied with this if you needed a larger sum.

How do you apply with Prosper?

Three basic requirements to apply are: holding a valid Social Security Number, be of legal age, and with a bank account. The application process is clear-cut and quick, similar to what you find in modern online lenders: you have to provide some personal details, along with:

  • The amount you want to borrow
  • Loan purpose
  • Annual income and status of employment
  • Current housing expenses, such as mortgage payments.

Mind that it might be necessary to upload at least some of this documentation, yet in this early stage. Then, the process resumes in these 3 steps:

Check your rate -> Choose your loan -> Get your funds deposited into your bank account

In a matter of minutes, you will receive multiple personalized rates offers, undergoing a soft credit pull, that won’t impact the score: if you agree with one offer, you will then submit the final application, waiting for approval by one of the investors on the platform (this may not happen as fast as expected). As with any lender, there will be a hard credit check, that makes your score drop, but it can be recouped by a few months of punctual repayments.

Approval may take a while, with latency time due to the decision being in the hand of investors, instead of Prosper as a company. From our research, we find that on average it might be about one week.

Disbursement occurs within a minimum of three business days, one day in the luckiest cases.

Your repayment schedule will consist of fixed monthly payments only: consider this if you think you can keep up with those.

Is Prosper reliable?

If you really care about your privacy , Prosper has a strong and transparent policy, and you can easily get in touch if you have doubt or think it can be at risk, or already somewhat compromised.

Prosper has been accredited by the Better Business Bureau, receiving an A +, which means trustworthiness and great capability of managing potential customers’ complaints.

About Prosper, you will find discordant online opinions among customers, but a generally good level of satisfaction: on Trustpilot, it has a 4.6 stars rating over more than 7,600 reviews, which is remarkable. Where Prosper seems to need improvement are: its customer service (mixed opinions: some people are definitely satisfied) and high rates, complained to be such despite creditworthyness, for unclarified reasons. Positive feedbacks speaks of a straightforward process of application, ease to obtain funds, and efficient service overall; there are also reports of successful debt consolidation.


Prosper is highly suitable for you if you are an excellent credit borrower with a clean and established credit history, unpretentious about loan terms or fees. The marketplace is a good solution if you need to consolidate previous multiple debts, or to face an emergency expense, and don’t need to take particularly large amounts. If your priorities are low rates and you need your money fast, then other companies are more recommended.


Born in 2012 as a division of SunTrust Bank, today become Truist, LightStream is an online lender, based in San Diego, specialized in providing its products to creditworthy consumers. Its mission is to guarantee the best loan application process ever because it understands how borrowers demand ease of use and speed when it comes to obtaining funds for their varied needs. Customer experience is definitely put in the first place.

Working exclusively online, LightStream can provide personal loans across all 50 states for over 30 purposes, including vehicle loans. Its range of offers is one of the most comprehensive out there. Here’s a more aware understanding of many of them:

Overview: best overall, especially for low rates and good-standing borrowers.

  • Recreational loans: boats, Destination club, Timeshares, RV purchase, and refinancing
  • Vehicle loans: new, used and classic cars purchase and lease buyout, motorcycles.
  • Miscellaneous: adoption, dental, medical, student loans for 12th-grade education, weddings.
  • Home Improvement loans: kitchen remodel, basement remodel, landscaping, hot tub, solar power, and swimming pool, to name a few.
  • Other: debt consolidation / refinancing, repairs, jewelry, horses, horse trailers, land, and tiny homes purchase.

All of these loans are multi-faceted in that they can be paid on multiple terms and repayment modalities. According to which use you decide to make of your personal loan, the rates will vary, and you are only permitted to use the funds you receive for the purposes reported during the application phase.

With credit card / debt consolidation, you can merge the pending debt you have from multiple credit cards into a unique repayment to be made under a more advantageous rate, and / or a more feasible term; the same applies if you had other existing debts, including car and personal loans, emergency or medical expenses, and if there are currently multiple specific loans, such as for home repairs and vacations, they can be included in a unique loan as well. Exceptions are business and student loans, that aren’t even served by Lightstream.

What are LightStream borrowable amounts, terms, and requirements?

A personal loan from LightStream makes you access to high amounts that you won’t find in many other lenders: you can borrow up to $ 100,000, that you can repay over as short as 2 years, or choose to stretch the loan length up to 12 years, which is quite uncommon among lending companies.

You have this freedom of choice until a point: your offered loan term will still depend on its amount and kind: if you are financing an emergency, for instance, you will probably be given a short term, in contrast to what you’d get if asking for a home improvement project. Major sums will typically be given a longer term to be repaid, and interest will be higher, as well.

LightStream has undoubtedly an edge because of its overall flexibility : you can obtain funds for nearly everything, and the company guarantees it will be easy to go through the loan application and finally take the money you need.

This lender cared especially about streamlining the process of application, which completion happens in just three easy steps.

However, LightStream loans will be available only if you have good to excellent credit : this means at least a FICO score of 660. The lender also clearly discloses its other requirements: a minimum of five years of credit history with an array of open accounts such as cards and mortgage, holding both liquid assets and investments (down payment on real estate, retirement savings, other), substantial income from a steady source, and clean payment history.

Other basic requisites are those commonly found among lenders: must be a US citizen or permanent resident with a valid address, holding a valid SSN.

All in all, it might reveal to be tough satisfying all these; if in turn, your profile is the right one, you will be granted the lowest rates, among the best on market. Meeting barely the criteria will expose you to higher rates, there is just no wonder about this.

What are LightStream rates?

Depending on how much you are going to borrow, the time of payoff, the reason why you ask for the loan and not last, your financial status, annual percentage rates (APRs) come in a wide range of 2.49% -19.99%.

Looking at the low side of this spectrum, such percentages are definitely low for a personal loan, and can hardly be found elsewhere. In a nutshell, the more wealthy you can demonstrate to be, the lowest rate you are likely to get: this would mean ideally exhibiting a credit score above 740, having a high and stable income, being regular with current outstanding payments, holding major accounts such as credit cards and showing very good management of those and debts in general.

How you are using the funds also matters: for instance, debt consolidation starts with a 5.95% APR.

All the rates are intended with a 0.5% embedded discount, which will be active if you choose the set your repayments automatically, in contrast to paying each month manually by traditional invoices. Besides, a unique feature of LightStream is its “Rate Beat” program, whereas it can grant a 0.1% lower rate than the one offered by another lender if certain criteria are met. And if you are unsatisfied with something about your loan from LightStream, you may be able to be settled with $ 100 just for telling the experience.

So, you can clearly see how the company is committed to making its customers happy.

The pros of LightStream Personal loans

  • Low rates for excellent credit scores
  • No fees
  • Easy application
  • Quick disbursement
  • A plethora of possible uses
  • Terms up to 12 years
  • Website transparency
  • Lots of eligibility requirements
  • Not available to less than good credit borrowers
  • No pre-approval stage with a soft credit check, as expected
  • No Fees

LightStream doesn’t have any prepayment, origination, or late installment fee. The equivalent cannot be said of other personal loan servicers, especially with regards to debt consolidation. You and your wallet can relax.

  • Overall convenience:

LightStream has set up the whole personal loan procedure to be as straightforward as possible. That includes an intuitive online application with responses that may come as fast as within one day.

  • Co-Signer Option:

LightStream allows for co-signers as an approach to support the candidate’s credit rating, in case of impossibility to qualify, or in order to obtain a better rate

Hard Credit Check

When you apply for a personal loan with LightStream, you will undergo a hard credit check. Hard credit checks can bring down your FICO assessment temporarily, acting as an incentive for borrowers to keep interest or commitment to the company, rather than shopping around for rates. This progression may likewise discourage you, considering that most lenders allow a soft check for providing a rate estimation, instead.

Customer service from this lender is oriented toward quality. The company ranks first in customer satisfaction, as emerges from the JD Power 2020 US Consumer Lending Satisfaction Study: assessed factors were standard of the offer, terms, ease of application, approval process, and loan management. Besides, LightStream got accreditation from the Better Business Bureau, which rates the company with an A +, witnessing a high degree of reliability.

Doing your online research, though, you will find a scarcity of reviews , most of which are negative: consumers complain most about being denied despite their high credit scores and incomes, or for being in touch with some unpolite member of customer service, or even about pointless communication. Some of this feedback might be scam, but these reports are definitely possible and just far from uncommon. What instead current borrowers appreciate is in essence how easy and fast is to get the funds and the lender’s affordable rates.

What are LightStream requirements?

When you apply for a personal loan with LightStream, you will undergo a hard credit check. Hard credit checks can bring down your FICO assessment temporarily, acting as an incentive for borrowers to keep interest or commitment to the company, rather than shopping around for rates. This progression may likewise discourage you, considering that most lenders allow a soft check for providing a rate estimation, instead.

  • Personal basic details (name, SSN / driver license numbers, etc.)
  • Purpose of the loan
  • Employment status and annual income
  • Owned assets
  • Current housing expenses
  • Your cosigner’s personal details and credit.

Once approved, you are envisaged with your final rate so that you can eventually proceed by signing the agreement and selecting funding and repayment methods. It must be reminded that this process will imply a hard inquiry on your credit score, without the possibility to know your rate before.

However, after having finalized the loan with LightStream (or any other lender), and while on the path of punctual consecutive payments, your score will rise again and possibly beyond the previous number, as a personal loan, if well managed, can actually build your credit.

Approval can occur within hours, and in many cases, it is possible to receive funds on the bank account by the same day, otherwise in a span of 24 business hours.

What do they say about LightStream?

Overview: best for cosigning loans, comparing multiple offers and affordable rates.

Founded in 2012 with the intent to empower borrowers to take control of their finances, and student loan refinancing in mind, Credible more recently extended its offer to personal loans, credit cards, and mortgage refinancing. Having a physical location in San Francisco, it works as an online service of matching offers from several lenders that are in partnership, among the best rated in the loan market, that can provide comfortable rates and terms. In this marketplace, you can shop for more personalized quotes, and choose the one that best fits your needs, without having to submit multiple applications, so to save time and effort.

So, Credible itself doesn’t underwrite personal loans but matches borrowers with partner lenders, plus it handles the processing of loans. And to see the rates and terms for which you can qualify, you will have just to input a few basic information: no infinite research, no damage on your credit score, but convenience and highly advantageous conditions are lying ahead. Through this company, you easily accomplish a recommended thing when it comes to loans and financial products in general, that is to say, to compare offers , and in just two minutes you are done.

You are not left alone, since the Credible customer service will be on your side if needed, following you through the entire process, and is accessible by phone, chat, or via e-mail.

The 15 available lenders are mostly well-known names, established companies with a successful background: Best Egg, Discover, Lending Club, Marcus by Goldman Sachs, PenFed, SoFi, to name a few. Credible declares who the lenders are, a thing that is not necessarily done by similar online companies. With a single form , you will obtain pre-qualified offers from those lenders you can qualify with. Mind that you won’t pay anything for just using the service provided by Credible.

Where Credible is different from other comparison platforms is that it shows you very specific rates and terms , based on information that is gathered through the simple form, instead of being shown with ranges and just the generic rates that the lender can provide overall. And you see which lender you can actually qualify for. This means avoiding hassle and wastes of time, as well as false hopes.

Personal loans from Credible can be used for every purpose: home renovation, major purchases, covering an emergency cost or special occasion, vacation, car expenses, starting a business, etc. Credit cards debt consolidation and refinancing, as two distinct options, are also available.

With debt consolidation , you will have three benefits: lowering your interest rate on outstanding debts you have, improve your credit by making easier on-time payments, and setting a date at which you know that payoff is made and you are debt-free, instead of having open indefinite terms. You can also shorten your term, but in essence, you will have one monthly schedule to follow. Several kinds of loans can be merged: other personal loans, cash-out mortgage refinance, home equity loans, and lines of credit (HELOC). There is a quick calculator that shows you how much you might be able to save, based on your requested loan amount to be consolidated.

Credit card refinancing is analogous: you take a lump sum upfront, which is used to repay your debt to the credit card issuer, by making fixed monthly installments until payoff. Such an option is meant to make you save, paying your overall debt faster, and so giving you more comfort in managing pending debts. Interest is fixed , in contrast to credit cards rates that are usually variable: this introduces predictability to your loan cost.

What are Credible rates, terms, and conditions?

With a loan from Credible, there is enough room for large purchases, but even for small loans, you can borrow as little as $ 600, a limit that’s lower than what’s available from the vast majority of lending companies.

Annual percentage rates (APRs) start at 4.99%, including autopayment, with terms ranging from 1 to 7 years. To qualify for the lowest rates, you must have an excellent credit score and immaculate history, while choosing short terms. The Credible Best Rate Guarantee gives you a $ 200 reward if you can demonstrate you found and finalized a loan with a better rate elsewhere, provided that certain criteria apply.

The range of possible APRs is quite ample: what you get depends on many factors, and credit score is the most relevant, followed by debt-to-income ratio. Although you actually choose how much to borrow and how many years to repay, those will be lastly determined on your financial possibilities expressed by the score and assessment indexes from the diverse lenders, each of one considers the various factors to a slightly different extent. Your APR will also depend on the loan purpose.

None of the lending companies from Credible charges a penalty if you decide to accelerate your loan payoff, but some have fees for things like origination, application, and other services.

Without even applying, you can see details of each lender, as concerns fees and times to fund.

As for eligibility, Credible suggests only the basic requirements: U.S. citizen or permanent resident, being of legal age, with a solid income and a good credit history. The remainder is lender-specific and will be disclosed on their website. In general, according to many financial experts’ recommendations, you should have an annual income of at least $25,000 and a DTI (debt-to-income-ratio) of less than 40%, which means you are spending less than that proportion of your earnings to pay current debt obligations. Keep in mind these are just limits, and that you should aim to improve them to increase your chances not only to be actually approved for the loan but to get a manageable rate.

Fair and some bad credit scores are allowed from several lenders in the Credible network: the 580 minimum is rare among lenders, being banks or online providers. Of course, you have to expect higher rates if having less than a good FICO score, which is 670. In the contingency you have even less than the minimum, some lenders (FreedomPlus, Lending Club, LightStream, OneMain Financial, SoFi, and Laurel Road) have the options of securing your loan with a collateral asset, or using a cosigner (relative, friend, or any person of trust) who can use its credit rating as assurance that you are able to make the payments.

Repayment options are set individually from each lender: you will choose among regular fixed monthly payments, with possible early or extra repayments. A weekly or bi-weekly schedule may be available from some lenders, applied for terms of 2 years or shorter.

Some of these lending companies can grant loyalty discounts, and allow you to set auto-payments through which rates are reduced.


  • Multiple offers from top lenders in one place
  • Potential low rates, Best Rate Guarantee
  • Lower than average amounts borrowable
  • Fair and bad credit scores allowed
  • Use of cosigners possible
  • Streamlined application with soft credit check


  • Unsolicited calls and marketing materials from some lenders
  • Some Credible partners charge fees
  • Quite high rates for bad credit borrowers

Even though a row of lenders will get obviously in touch, possibly in a way that you could feel literally flooded with calls and/or emails, you have still the option to limit at least the receipt of the latter, or anyway turning to Credible customer support.

How much it takes for funds disbursement will depend on the lender of choice, but it can occur within one business day: Credible is committed to giving you a painless experience, aware that waiting times can be excruciating, especially if you need money fast.

It must be stressed that you obtain personalized rates, not just your data are thrown at a bunch of lenders. If you don’t receive any offer, this would mean your creditworthiness is too low, or you are already spending too much for outstanding debts: consider personal loan servicers specific for bad credit (you will get higher than normal APR).

You don’t have to worry about your privacy, since all companies have a reputation, operate for many years, and are rated by tens of thousands of current consumers; moreover, they won’t give away your information. If however, that’s an issue, you can always check the transparent Credible policy.

In case you are new to loans and have any kind of doubts, on the Credible website there is a blog encompassing the most crucial topics so that your decision is taken with knowledge.

How does applying with Credible work?

The application process is straightforward, and you will obtain your pre-qualified rates within minutes after completion of the form, with a soft credit check; a hard inquiry will be made only once you finalize one of the loan offers, as it is from any lending company. The rule is: multiple soft credit checks, done within a period of 30 days, are considered as rate shopping, and will count as a single check; a hard credit pull is required by using any financial service, and will typically mean a drop of 5 points from the score.

To apply, information to be disclosed include personal details, loan purpose and amount, your education and employment status, something about credit history and housing. You will create an account with Credible if you decide to go on.

The number of offers you then receive will vary depending on how many lenders are disposed to finance you according to your financial status. Those will be visualized on the Credible dashboard. If you pre-qualified for any loan offer, you won’t have any obligation to finalize it. If you want to proceed, you will be redirected to the lender’s website to complete your application.

Your credit score will be the main determinant factor of eligibility: the company claims that 10% of applicants with less than 640 are actually obtaining a loan. Second to this, Credible lenders will consider your debt-to-income-ratio (DTI): a high DTI, usually considered to be above 43%, can overcome even having an excellent credit rating.

Credible has a tool that enables you to check your rates with a number of different co-signers, so you can see which of them helps you obtain the best rates.

In case you are new to loans and have any kind of doubts, on the Credible website there is a blog encompassing the most crucial topics so that your decision is taken with knowledge.

Customers reviews

If Credible being legit is your concern, it got accreditation from the Better Business Bureau. Besides, the company benefits from a quite good reputation among consumers: on a number of about 4,000 reviews, it has 4.7/5 stars on Trustpilot, which is impressive. All these positive online feedbacks are about several things such as customer service expertise, overall usability, access to pleasant rates, ease and speed of application, debt consolidation from credit cards, and fast funding, while complaints are about various issues, most of which are far common, or for instance too many calls and emails from lenders after having filled the form.

Final verdict. Credible is a great choice for borrowers of all credit profiles, especially those with fair and bad credit, who can’t qualify from most lending companies, and who can use cosigners. If you want to compare many top offers at once, need to borrow either small or large sums, for the most varied purposes, including consolidation of previous debts, Credible is simply the right place. If on the contrary, you are the person who doesn’t like too much choice and feels somewhat to be pressed when you have several irons in the fire, then it would be better to directly turn to a single lending company.


Overview: best for middle-income fair credit borrowers, and loans refinancing.

Founded in 2012, with headquarters in Chicago Avant is an online lender who partners with WebBank, and is backed by big-name investors in the fin-tech background to provide its two products: personal loans and credit cards. Its focus is to lower barriers and improve the borrowing experience, exceeding consumers’ expectations. The company gained rapidly a reputation for its services, and at present has become a leader in the industry, with the vision of “customer comes first”: it has already successfully helped 800,000 people to fund their life needs.

Avant operates in 47 States: it doesn’t lend to residents of Colorado, Iowa, and West Virginia.

Not only Avant offers conventional unsecured personal loans, but like only a few other lenders, it can also provide secured loans, to facilitate access to money even to poor credit borrowers who otherwise couldn’t qualify, or would get unaffordable high rates. They are also meant to add a security layer in the eyes of a lender, in case you became unable to make the repayments in the future.

Personal loans from Avant are suited to a range of credit scores, above all being a valuable choice for fair credit borrowers, since it allows them to qualify easier than elsewhere. If you have a score below 660 and need to be funded in a short time then Avant is the place.

Low credit scores down to 580 can still qualify from Avant, whereas you would find difficulty (or closed doors) from most other online lenders or banks. The company claims that its loan approved customers have a score mostly between 600 and 700, while there is no minimum income disclosed. This is definitely worth considering since many lenders will generally require 640 at the very least or more.

You don’t have to worry about moving into an unknown path, since a customer service made of real people will be there to assist in your decisions, at every step of the way, especially proactive through the phone line. You can even see the faces of the Avant team if this reassures you.

What are Avant personal loan rates and conditions?

With an Avant unsecured personal loan, you can borrow up to $35,000, which is an average limit, and sufficient to cover most of the needs you may have: a home improvement project, wedding, vacation, car repair, big purchases, emergencies, and even debt consolidation. Nearly all loan purposes are allowed, as long as you indicate to use the funds for one among those; exceptions are financing tuition or loans for business, which are not allowed. What you are actually eligible to borrow might differ from what you asked, depending mainly on your creditworthyness and income. The minimum is $2,000 but can be above this limit, depending on the State you live in.

Avant personal loan rates are overall higher than the average you find from other lenders, ranging from 9.95% to 35.99%, with the lower end of the spectrum accessible to borrowers with the best credit scores. What you actually qualify for varies depending on credit determination and state law. You will have fixed interest so that you can safely budget your expenses, and loan terms from 2 to 5 years.

Expect also to pay a few fees: the bulk is constituted from the administration fee, due for the procedure of originating the loan, that can reach 4.75% of your asked loan amount: this upfront cost adds significantly to the total loan cost.

It must be said that several other lenders don’t consider this fee at all. There is also a late payment penalty up to $25, which can be refunded if you are able to make three on-time payments in a row, and a $20 “dishonored payment fee” each time any initiated payment or one you make in connection with your Note or the Debt is returned unpaid: as such is stated on the website.

On the contrary, if you decided to make early repayments, you won’t receive any penalty for this.

Avant has also an edge when it comes to repayment possibilities: it is much flexible, in fact, while you have the standard fixed monthly schedule, you can change the due date and even the due amount of the next installment up to 1 business day (starting from a certain timetable) prior to its beginning.

Through Avant, you also have the option to refinance an existing loan, even one you had with the company itself: after at least six months of your current personal loan, you can decide either to lower your rate or receive additional funds. Refinancing means that you will switch the old loan, which is actually paid off, with a new one, and any difference will be given to you as cash.

As previously mentioned, the following specific options are available:

  • Secured loans: you borrow against the value of your car (while you keep driving it) with amounts between $5,000 and $25,000. Terms available for this kind of loan are 24 to 48 months, with the same APR range of unsecured loans, but repayments are done yearly instead of monthly. These loans are available in 40 States.
  • Debt consolidation loans: if you have pending debts from multiple credit cards, you can consolidate them into a unique loan with lower fixed interest and the comfort of a single monthly payment schedule. This option is useful for taking better control over your finances, saving, and even building your credit. With fast funding from Avant, you will be out of hassle and debt in no time.

All that said, here is a resume of the ins and outs of Avant personal loans.


  • Lending to fair credit borrowers
  • As fast as same-day funding
  • Easy loan refinancing
  • Flexible management of repayments
  • Soft credit check when seeing your pre-qualified offer



  • More expensive than average
  • No option for cosigners

From one side, Avant allows borrowers with lower credit to qualify.

On the other side, and this is a noteworthy drawback, it charges relatively high rates: both the lower and upper limits are greater than what many lending companies on the market offer. Even if you have the best credit score, you would qualify for lower rates that are yet greater than average, while if having poor credit you get a quite high interest. 

The sweet spot seems to be in the middle, so who can benefit the most is a fair credit borrower.

On the website, we didn’t find mention of the possible use of a cosigner, so we assume that such contingency is not available.

A great perk of Avant is having one of the quickest turnaround times in the loans scenario: depending on your circumstances, but in most cases, you will be funded the same day on which you completed your application.

There is great transparency on the Avant website: its offers are clearly disclosed and explained. If you want to build your credit or learn financial tips to borrow, budget, or saving for your future, you will find a very comprehensive and valuable blog full of resources.

How do you apply for an Avant personal loan?

On the Avant website, you find a straightforward application form, that lets you check your eligible rates and options in just a few minutes: completing this first step won’t impact your credit score, which undergoes only a soft pull. You may receive more than one offer, based on your financial status, and we are talking about pre-qualified rates. A hard inquiry will be made only if you finalize your loan offer, which is standard practice whenever you make use of a financial service: this time, you will need to submit bank statements and the most recent pay stubs.

  • You will need to provide personal details such as Social Security Number, address, and phone, along with some financial information: monthly housing payment, your estimated credit score, monthly income and its source (tax returns if self-employed), how do you mean to use funds, how much you want to take, and contextually create an account.

Avant is committed to giving a quick response time, usually the same day, and funding requires a matter of 24 to 48 business hours, which results in a quite fast completion since the beginning. Funds are generally deposited via ACH or bank account.

Payments can be made entirely online, through both a desktop interface and a mobile app: you can manage your account directly from the Avant app through a simple-to-use dashboard. From there, you may want to set automatic repayments; besides linking your bank account, Avant can accept payments from credit or deposit cards, or personal check, which is great if you feel uncomfortable with autopayments, perhaps in need of direct control on your finances.

Avant receives broadly positive feedback from the vast majority of its consumers, as is clear from online reviews: on the Trustpilot website, it obtains a rating of 4.7 over more than 12,000 reviews, which is extraordinary. Customer service is reported to be awesome, kind and professional, the whole process of applying being handy, fast and efficient; people are also happy with funding deadlines, there is contentment about the refinance product, and a general satisfaction despite the company high rates, that is one of the very few complaints.


Avant is one the best choice out there if your credit score is in the low 600’s, that would mean being denied or not getting decent rates from other lenders; if you appreciate or need flexibility with repayments, Avant is still the way to go. Don’t underestimate other borrowers’ opinions: a service that demonstrates great overall efficiency must be taken into account. Also consider this lender’s rates if you want a fast cash solution, something close to a payday loan but with monthly payments. Just look elsewhere if you are seeking low rates, or you think you need a cosigner’s support.


Overview: best for loan shopping, bad or no credit borrowers, and long terms.

Monevo was born in 2008 as an online marketplace of lenders to serve the British market, then expanded its service internationally, and to American borrowers since 2017. Despite being quite fresh to the U.S. market, the company has already financed thousands of loans and helps more than 250,000 people overall in U.S., UK, and Australia each month to fund their needs, and even Amazon has awarded the service as a digital business, proving to be reliable and efficient. It can provide loans for absolutely everything: emergencies, household expenses, home improvement, large purchases, medical/dental procedures, moving and relocation, to name a few. It is even possible to consolidate debt, paying off credit cards, as well as student loans refinancing, business, and car loans.

Monevo doesn’t lend directly but is a free service putting you in contact with several lenders and banks in the networks within one minute, and you can shop among a plethora of different rates, terms, and borrowable amounts. This variety of offers is even wider than similar other comparison-online platforms in our list, and there are both top lenders and a bit less known companies that can grant very specific conditions. This is like being in a big shop where you can find nearly all that may suit your needs.

More than 30 lenders and banks are partnering with Monevo: iLendingDirect, Figure, Best Egg, SoFi, Earnest, Axos Bank, Marcus by Goldman Sachs, and more. Monevo has a dedicated customer service you can rely on, before approaching directly to the underwriting lender.

Besides its outstanding award-winning service, Monevo excels and is quite unique about giving chances to borrowers of every credit profile to obtain a loan, as we are about to see in more depth.

What are Monevo personal loans rates and conditions?

You may need $500 for a car repair, or a major amount, in which case you may be eligible to take up to $100,000: Monevo can cover any purpose, and the financing amount will depend on how clean is your credit history, the best chances with a high score, as well as good annual income and debt-to-income ratio.

Terms can be both very short and stretched: you can repay your loan in a brief time as 3 months, or it is possible to consider up to 12 years, whereas on average you find limits of 5 or 7 years. That is possible because Monevo includes lenders with very different conditions, so whether you can afford high monthly repayments or prefer more comfort, even despite the loan cost, through Monevo you will have the best solution.

The range of APRs available from Monevo is very ample: a very low starting point of 1.99%, accessible only if you have excellent score and history, up to 35.99% aimed at the riskiest borrowers, who are the ones with no credit to show. The interest rate type is fixed, which must be valued, especially in the face of the long terms that Monevo can grant: you are safe that your payments will stay the same over the years to go. 

Besides, the disclosed APRs include fees related to the origination of the loan: any additional fees will depend on the lender of choice.Bear in mind that lenders are still under states regulations, so they
can reserve to change rates and other conditions at any time.

Will Monevo be a good choice for you?


  • Lending to poor credit score borrowers
  • Fast comparison of a number of top lenders at once
  • Potentially very low rates
  • One-minute application
  • Very fast approval and funding times
  • Both low and high loan amounts available
  • Long terms


  • Likely of calls and emails flooding
  • Underwriting with some lenders requires paperwork
  • Any issue with the loan can’t be dealt with directly, phone assistance is missing
  • One-minute application

Despite Monevo seeming to be the perfect choice for a personal loan, you should also consider the few listed drawbacks. If you can overcome these flaws, then you are ready to apply.

How do you get a Monevo personal loan?

Strong of its experience, and operating since at the dawn of lenders-matching online services, Monevo has fine-tuned the entire process of application: you will have to fill out a one-minute quick form, asking you about: personal details (address, SSN, etc.), housing expenses, your employment status, annual income, education level; there is also the option of adding a co-borrower, which is quite uncommon for such a service, and that can dramatically improve your chance to obtain the loan.

You will obtain personalized offers in a very short span, with no minimum credit score required, and seeing your quotes won’t affect your score.

Lenders will dive into your credit history with just a soft credit check; a set of personalized offers will display in an easily readable table where you see your rates along with years to repay your loan, the amount you can borrow, and even a quote of your monthly payments: this level of comfort and wide choice is unrivaled.

Keep in mind that these are pre-qualifying rates , that are very likely but not guaranteed to be applied. This is because lenders are not yet provided with the whole picture of your financial status at this step. Your information will be of course shared among the lender’s partners: if you want to know more, you can always read the Monevo privacy policy. As with any platform working like this, there is no 100% guarantee you will receive a quote or that you are able to finalize the loan.

Then, you are not obliged to finalize any offer; if one is of your choice you will proceed on the lender’s website and in some cases need to provide further documentation, such as proof of income and housing.

Funds are deposited directly into your account within as little as 24 business hours, that is the case with most lenders in the network. Your information and transactions through the website are 100% secure: Monevo uses the ultimate technology of online security to prevent and impede stealth of data and fraud. The process is definitely safe, easy, and fast.

Monevo has been recognized by the Better Business Bureau, and multi-awarded from UK institutions. It commits to be transparent about lenders, disclosing their ranged offers to website users.

Its customer service is made of people in the flesh, who can be reached through a live chat or email. And treating customers fairly and with the best conduct is a company priority. However, as mentioned, if specific issues about your loan arouse once it is already signed, it must be addressed directly to the lender of choice.

Customer reviews are mostly reported on the independent reviews platform Monevo shows a 4.6 score from more than 500 reviews, with general satisfaction especially concerning ease and speed of the loan process, without any issues. There is also complaining about higher interest rates and fees than the customer would’ve preferred, but this has to be expected since pre-qualified offers not always and necessarily end up being 100% the same as the final ones: that is just the norm . People also get annoyed by too many calls and emails, anyway, there are even unsubscribing options.


Monevo is a convenient way to find rates if having a poor credit score, or even no credit at all, a status that you aren’t likely to qualify with elsewhere. But if you have good to excellent credit, you can have access to the lowest rates on the market. You should definitely consider Monevo if you want to save time and money, that is what is accomplished from a well-performing lenders aggregator service.

Whereas you need the funds easy and fast, the company is also a king choice. Better options are out there if you prioritize a proactive customer service, unique management of the loan, or dislike the idea to be potentially harassed by the calls of multiple companies.


Overview: best for all credit borrowers and short-term loans. is an online marketplace specifically built for making borrowers connect with a variety of lenders and partners that can provide personal loans. Companies that are in the network are all licensed and reliable, including local lenders, and they will present you with their best offers once you go through a streamlined application process , that will end in a fast disbursement.

Like several other online services like this, you have the convenience to shop around for multiple deals in a single place, and in minutes you might be able to choose your best loan, from comparing the offers.

The goal in mind is obviously to make you save money, and the effort to check the lenders one by one, through an optimized online experience and easy-to-use platform. But what sets this company apart from others in the market is its range of products , as well as ease to obtain a loan even in subpar financial conditions.

These personal loans can be used for nearly every purpose: home improvement, an emergency, family vacation, wedding, debt consolidation, medical expenses, etc. Besides the conventional personal loan, the company specializes in short-term financing by providing “fast cash loans”, which is a convenient alternative to the more costly payday loans. These products are hard to find elsewhere and can be a lifesaver under special circumstances. Some lending partners can also provide lines of credit , if you need to be funded regularly, rather than needing a lump sum at once.

This service of matching lenders is absolutely free, while the company makes money from the fees paid by its partners who actually underwrite the loans.

And you can even start your request based on your credit score if you already know what it is.

A summary of products

  • Peer-to-peer loans: You are put in contact with individuals or lending companies who are disposed to invest on your loan, thus granting you the money you ask. Requisites to be eligible for P2P loans are slightly stricter than other types of loans
  • Installment loans: These are best suited for covering a major incident or even as a support for buying a house: they have the largest amounts borrowable, and the longest term
  • Bank-offered loans: If you come up with an offer from a bank, it has the advantage that you can discuss your loan in person with an officer, both prior to getting the loan and afterward. Besides, you have the guarantee of a fixed interest rate, which adds peace of mind with the predictability of your payments.
  • Fast-cash loans : smaller, short-term loans suited to face emergency expenses, with the fastest processing time possible.

What are rates and conditions?

Since the company doesn’t lend in itself, all the rates and terms you will see and get are the ones applied by the single lender. Overall, you will have access to amounts down to $ 500 and up to $ 35,000: this is an ample spectrum that is enough to cover most of the common financing needs.

Terms available through span from as short as 3 months up to 6 years: as you take smaller sums, it is more likely that a narrower term will be applied to your loan, as well as a lower interest rate.


  • Free comparison of multiple offers from top lenders
  • Very quick and easy process
  • A range of short-term loans available
  • Bad credit borrowers allowed
  • The abundance of website resources and guidance tips
  • Customer service available through the phone

It must be stressed that doesn’t just gather a bunch of lenders in the market, but commits to work with recognized companies and well-known brands of the industry: you are safe that you get among the best deals possible from them , and that the lender you actually choose is reputable and already in use by real customers.

Furthermore, one thing to consider is that you can visualize all of the terms and conditions of a single loan offer before applying to it, whereas usually from such a service you can prior see only the numbers.

If you have poor credit, that is to say, a FICO score below 580, you will still find lenders that can make offers, and you have actually higher chances to qualify than from many lenders and banks available on the market since lends also to subprime borrowers.


  • High maximum rates
  • Doesn’t lend directly
  • Potential hard pull on credit before the final application

Despite the possibility of qualifying yourself, if you have a poor credit score and ruined history, then you are likely to get rates that can skyrocket, up to 35.99%. Keep in mind that, except for the APRs maximum cap, this is the rule, and whatever lender you may turn to, you just have to expect a high interest from, applied to a subprime condition.

Since doesn’t sign directly the loans provided, should you have any issue with your finalized loan, you will have to solve it through your actual lender: this double involvement can be somewhat bothering if you are the one who prefer to evaluate on hand a lender, and proceed straight.

Repayment schedules are also based on the loan term: besides the traditional monthly installments, some lenders might require fortnightly, or even a weekly frequency of payments for shorter terms, very likely for those below one year.

Rates (APRs) altogether available from the network of servicers are between 5.99% and 35.99% and will depend above all on your creditworthyness. As with any loan provider, the higher your credit score, the better are the chances to get a more affordable rate and to qualify by the way. On the other hand, borrowers with the lowest scores will likely see the APRs in the high-end of the spectrum. Mind that APRs might not include potential additional fees that some lenders can charge. We couldn’t find clear information about the type of interest, but can safely assume that it is fixed in most cases.

Some of the lenders of may apply an origination fee , that typically can range from 1% up to 5% of the loan amount: this fee is either deducted from the loan amount at deposit or counted in the principal balance. Or you may find your lender has fees for late (missed) payments that take over once a certain number of days have passed since the due date: to avoid these, you may want to set autopayments. There is a set of basic requirements plus more advanced eligibility criteria, that you can see in the below table along with a recap of numbers.

How much your personal loan will cost you depends ultimately on the lender of choice, and is determined on how much you borrow, the repayment term, credit score, and even the State of residence, because loan rates are under the state regulation law.

The company doesn’t explicitly declare if there is a minimum credit score for qualifying, except for some of its products where we found that at least 580 is required.

So, why you want to consider (or don’t) Take a look at the benefits and drawbacks we were able to find.

How do you apply to

You just have to complete a simple online form where you input some basic information and details about yourself, employment status, proof of income, and loan purpose. You will get pre-qualified, utterly personalized offers, with the most favorable rates and terms from lenders in the network. The approval process may happen in a matter of minutes and within 1 hour, with these offers to be checked into your emails.

You aren’t by any means obliged to accept one offer. If you do, you will finalize a loan in a total time which is below 48 hours: you will complete the application on the lender’s website, by submitting some further information, and where you are presented with the full agreement of the loan, including the final rate, schedule, and deadlines of payments.

Personalloans assures that funding time is generally within 24 business hours, depending also on the bank processing capability, with cash directly deposited on your bank account.

Then, by creating a user account, you will have access to a user-interface from which to see loan details and manage your payments.

You will undergo a soft inquiry on your credit report, that won’t affect its score, however, if some lenders are involved yet in the first phase of the application, you will receive a hard pull that can typically decrease the score by 5 points . This is not necessarily a dramatic thing, since the credit can be built afterward, by making punctual consecutive repayments.

Bear in mind that there can’t be a 100% guarantee that you receive offers, which will depend essentially on your credit history and income, and this is true for whatsoever direct lender or matching platform of lenders.

What else should you know about

All your submitted data are definitely safe , because uses strong data encryption, as is specified on the website.

Those data will be of course shared with more lenders but also their associate third parties for marketing purposes: there is a clear-cut policy that explains this, and you can always take action to avoid unsolicited spreading and use of your sensitive information.

On the website, you can see answers to the most asked questions by customers in a dedicated FAQ section, so as to solve almost any doubt you may have. It is rich in information about all its products, and also provide advice about tax-refund loans, payday loans, debt consolidation, and varied finance related topics in the blog, as well as having detailed disclosures. The only thing we wish to find was a mention of who the lenders in the network are.

In case of need, you can receive support both through phone and email , so you are sure there are people in their flesh and not just a fully automated system. is accredited by the Online Alliance of Lenders (OLA), which is a guarantee of compliance with the law, high standards of conduct, customer satisfaction, and protection from fraud.

Indeed, there are few customers’ online reports about, but from what we could see there is a general sense of satisfaction about the service overall. As a summary of what we discovered on Trustpilot and, customers find the website to be first of all trustworthy and easy to navigate, while they appreciate the transparency of their loan offers, with all the terms and conditions explained prior to the agreement, as well as the speed of the application and ease of obtaining their loans. They are also happy with rates applied for their credit score, and with customer service who is judged to be professional. The few complaints are about getting too many calls and emails upon ending application (though not all consumers agree on this), not being approved despite pre-approval, or about the fact they didn’t receive any offers at all, but these issues can be encountered pretty everywhere.

Final verdict. is particularly suitable if you want a totally hassle-free experience, to save and get your money fast, thanks to the tailored solutions that this company can provide. While other similar comparison services exist out there, it appears to be ideal if you are a subprime borrower: if you were struggling to find granting of a loan with a less than good credit, on you are likely to qualify and obtain your best deal.

Consider our other reviewed companies if you are rather in a better financial position, just dislike to choose but you prefer a direct approach to a lender.

Leave a Comment

Ads by Eonads