Best Personal Loans for July 2025 View All Best Personal Loans for July 2025
- Our Top Picks
- LightStream
- SoFi
- Discover
- See More (6)
- Upgrade
- Upstart
- Citibank
- Lake Michigan Credit Union
- Navy Federal Credit Union
- Patelco Credit Union
- Compare Providers
- Why Trust Us
- Current Average Personal Loan Interest Rates
- How Does a Personal Loan Work?
- Who Is a Personal Loan Loan Good For?
- Common Personal Loan Terms
- Pros & Cons of Personal Loans
- Alternatives to Personal Loans
- Frequently Asked Questions
- Methodology
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What to Know First
A personal loan can help you cover an emergency expense, consolidate debt, make a home improvement, and more. The best personal loans feature low annual percentage rates (APRs), no fees, repayment terms that fit your budget, and an easy application process.
Investopedia rigorously researched 59 lenders and ranked them on those features, including criteria informed by a survey of hundreds of personal loan borrowers. LightStream, the online lending subsidiary of Truist Bank, ticks all the boxes (competitive APRs, no fees, flexible repayment terms) and is our choice for the best personal loan.
However, another lender may be better for you, depending on your circumstances. Learn more about LightStream and Investopedia’s other picks below.
Today’s Top Picks
- Best Overall, Best for Large Loan Amounts: LightStream
- Also Good for Large Loan Amounts: SoFi
- Best for Debt Consolidation: Discover
- Best for Emergency/Quick Funding: Upgrade
- Best for Low Minimum Credit Score: Upstart
- Best Big Bank: Citibank
- Best for Small Loan Amounts: Lake Michigan Credit Union
- Best for Military Members: Navy Federal Credit Union
- Best Credit Union: Patelco Credit Union
Why Trust Us 59 Lenders reviewed 45 Loan features considered 2,655 Data points analyzed 284 Primary data sources used Investopedia collected data from dozens of lenders to evaluate the factors most important for borrowers. We used this data to rank each lender based on APRs and fees, loan amounts, repayment terms, customer experience, and more to provide unbiased, comprehensive reviews and help you make the right borrowing decision for your needs. Read our Full Methodology
What to Know First
A personal loan can help you cover an emergency expense, consolidate debt, make a home improvement, and more. The best personal loans feature low annual percentage rates (APRs), no fees, repayment terms that fit your budget, and an easy application process.
Investopedia rigorously researched 59 lenders and ranked them on those features, including criteria informed by a survey of hundreds of personal loan borrowers. LightStream, the online lending subsidiary of Truist Bank, ticks all the boxes (competitive APRs, no fees, flexible repayment terms) and is our choice for the best personal loan.
However, another lender may be better for you, depending on your circumstances. Learn more about LightStream and Investopedia’s other picks below.
Today’s Top Picks
- Best Overall, Best for Large Loan Amounts: LightStream
- Also Good for Large Loan Amounts: SoFi
- Best for Debt Consolidation: Discover
- Best for Emergency/Quick Funding: Upgrade
- Best for Low Minimum Credit Score: Upstart
- Best Big Bank: Citibank
- Best for Small Loan Amounts: Lake Michigan Credit Union
- Best for Military Members: Navy Federal Credit Union
- Best Credit Union: Patelco Credit Union
Why Trust Us
59 Lenders reviewed 45 Loan features considered 2,655 Data points analyzed 284 Primary data sources used Investopedia collected data from dozens of lenders to evaluate the factors most important for borrowers. We used this data to rank each lender based on APRs and fees, loan amounts, repayment terms, customer experience, and more to provide unbiased, comprehensive reviews and help you make the right borrowing decision for your needs. Read our Full Methodology
Best Personal Loans for July 2025: Borrow Up to $100,000
- Best Home Warranties
- Best Emergency Loans for Bad Credit
- Best Personal Loans for Bad Credit
| Company | APR | Credit Score est. | Loan Amount | More Details | |
|---|---|---|---|---|---|
Best Overall, Best for Large Loan Amounts : LightStream
- APR Range: 6.49% – 25.29%
- Loan Amount: $5,000 – $100,000
- Loan Terms: 24 months – 240 months
On Investopedia
Why We Chose It
LightStream makes our list twice, as Best Overall and Best for Large Loan Amounts. It hit the sweet spot in our scoring rubric: low APRs, a wide range of loan amounts, and a very wide range of repayment options. If you need a large sum, for a home improvement or a boat, LightStream lends up to $100,000. You’ll have up to 20 years to repay for specific loan uses (like home improvements).
Pros & Cons
Pros
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Low APRs
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No fees
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Loan amounts up to $100,000
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Loan terms up to 240 months (20 years)
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Same-day funding
Cons
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High minimum loan amount
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No pre-qualification
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Requires good to excellent credit
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Limited customer support options
Overview
In our research, LightStream scored well in all the areas that matter most to most borrowers. Its advertised APRs are competitive, and there are no fees, not even for late payments. It offers lengthy repayment terms and loan amounts of up to $100,000. With autopay, you can shave 0.50% of your APR. If you find a better rate on an unsecured loan from another lender, LightStream will beat it by 0.10%.
Fund dispersal is fast, as soon as the same day if you accept a loan proposal before 2:30 p.m. ET. You can also delay funding up to 90 days, which can help if you’re planning a home improvement and don’t want to begin repaying a loan before you’ve spent any of it.
Although LightStream is our top choice, it has some flaws. The most glaring is the lack of loan pre-qualification, which Investopedia considers an important shopping tool. You’ll have to complete an application to find out your loan details, which means a small hit to your credit score.
LightStream’s minimum loan amount of $5,000 may be too high for some borrowers, depending on their needs. LightStream is a solid choice if you have good to excellent credit, but you’ll have to shop elsewhere if you don't. Finally, we also found LightStream’s customer service options lacking, as they are limited to telephone support.
LightStream is the online-lending arm of Truist Bank, which was formed by a merger between BB&T and SunTrust Bank in 2019. Truist is headquartered in Charlotte, North Carolina.
Additional Details
| Minimum Credit Score | 680 |
|---|---|
| Origination Fees | None |
| Membership Requirement | None |
| Available Discounts | 0.50% autopay; 0.10% rate beat |
Read the Full LightStream Personal Loans Review
Also Good for Large Loan Amounts : SoFi
- APR Range: 8.99% – 35.49%
- Loan Amount: $5,000 – $100,000
- Loan Terms: 24 months – 84 months
On Investopedia
Why We Chose It
SoFi, a former Best Overall winner in Investopedia’s ranking, offers loans of up to $100,000, highly rated customer service, pre-qualification, and a bevy of SoFi membership benefits.
Pros & Cons
Pros
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No late fees
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Same-day funding available
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Access to SoFi membership benefits
Cons
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Optional origination fees
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Can’t apply with a co-signer, but co-borrowers are accepted
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High minimum loan amounts
Overview
You can find lenders offering lower rates and more flexible loan minimums. But only a few lenders we researched offer loan amounts up to $100,000, and only one, specialty lender BHG Financial, offers larger ones (up to $200,000). Plus, you’re unlikely to find a lender that offers more customer perks and benefits than SoFi. Those benefits include free financial advice and discounts on other banking and financial products it offers.
That focus on customer experience is working for SoFi. It ranked fourth in J.D. Power’s 2024 U.S. Consumer Lending Satisfaction Study. Sofi also received an Investopedia Combined Consumer Review rating of 4.4 (out of 5 possible), a calculated aggregate of consumer review ratings on Trustpilot and the Better Business Bureau developed by Investopedia’s researchers.
Like LightStream, SoFi has a high loan minimum of $5,000, so if you need a smaller loan, you must look elsewhere. In years past, the lender touted its lack of fees. That’s changed now, and SoFi offers borrowers the option to pay an origination fee of up to 7% in exchange for a lower interest rate overall. You still won’t face late fees and prepayment fees.
San Francisco-based SoFi was founded in 2011 as a fintech specializing in student loans. Today, it offers a full suite of banking and financial products, including checking and savings accounts, home loans, investment accounts, insurance, and more.
Additional Details
| Minimum Credit Score | No stated minimum |
|---|---|
| Origination Fees | 0%–7.00% |
| Membership Requirement | None |
| Available Discounts | 0.25% autopay; 0.25% direct deposit; 0.25% creditor direct pay |
Disclosures
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. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. 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. To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.
Read the Full SoFi Personal Loans Review
Best for Debt Consolidation : Discover
- APR Range: 7.99% – 24.99%
- Loan Amount: $2,500 – $40,000
- Loan Terms: 36 months – 84 months
On Investopedia
Why We Chose It
Discover, with competitive APRs and no origination fee, is a good choice for personal loans for any reason. But because it will pay your creditors directly, it’s an especially good choice for debt consolidation.
Pros & Cons
Pros
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No origination fee or late fee
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Excellent customer satisfaction ratings
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Creditor direct pay
Cons
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No co-signers or co-borrowers
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Lower maximum loan amount
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Can’t be used for secured debt consolidation
Overview
We picked Discover as the best lender for debt consolidation because of its low advertised APRs, range of repayment terms, and the option to have Discover pay your creditors directly. This is convenient for you, but also offers a bit of risk reduction for the lender. Loan funding is fast, as soon as the next business day, if everything in your application is accurate.
Discover’s reputation for customer service was borne out during our research. Our reviewers rated the website and its broad collection of tools, calculators, and educational material a 4 (out of 5 possible). Meanwhile, Discover rated second in the J.D. Powers 2024 U.S. Consumer Lending Satisfaction Study.
One downside with Discover is that it does not accept co-signers or co-borrowers who can help borrowers with lower credit scores qualify for a loan. The maximum loan amount ($40,000) is not as high as many competing lenders, although the lower minimum ($2,500) makes it a good choice if you’re looking for a smaller loan.
Discover, founded in 1986, was a subsidiary of Sears, Roebuck & Company, which was created to offer Sears shoppers credit card services. Today, from its headquarters in Illinois, it offers credit cards, home loans, CDs, and savings and checking accounts.
Additional Details
| Minimum Credit Score | 660 |
|---|---|
| Origination Fees | None |
| Membership Requirement | None |
| Available Discounts | None |
Read the Full Discover Personal Loans Review
Best for Emergency/Quick Funding : Upgrade
- APR Range: 7.99% – 35.99%
- Loan Amount: $1,000 – $50,000
- Loan Terms: 24 months – 84 months
On Investopedia
Why We Chose It
Upgrade is our choice for emergencies and quick funding because of its fast funding time and relaxed lending criteria, which makes a loan from Upgrade available to a broad range of borrowers in a pinch. You’ll pay for the convenience with origination fees as high as 9.99% and APRs that reach nearly 36%.
Pros & Cons
Pros
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Low minimum credit score requirement
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$200 checking account bonus offer
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Allows co-borrowers
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May offer a secured loan option
Cons
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Steep origination fee
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Potentially high APR for some applicants
Overview
Upgrade accepts applicants with fair credit scores—as low as 580. You can apply with a co-borrower, too, if you need help getting approved or want to try for a better rate. Upgrade may also offer you a secured loan, using your car as collateral, instead of an unsecured loan.
You’ll pay for this flexibility, though. Upgrade charges origination fees between 1.85% and 9.99%, and its maximum APR is 35.99%. Borrowers with thin or weak credit profiles should expect to pay on the higher end of those ranges. Discounts for setting up autopay, using loan proceeds for debt consolidation, and opting for a secured loan are available, but the lender doesn’t reveal the details. A $200 bonus is also available for setting up and funding a checking account with Upgrade during your loan application. You can fund your new account with your loan funds.
Upgrade was founded in 2017 and is headquartered in San Francisco. Since its founding, it has provided more than $35 billion in loans and credit.
Additional Details
| Minimum Credit Score | 580 |
|---|---|
| Origination Fees | 1.85%–9.99% |
| Membership Requirement | None |
| Available Discounts | Autopay, debt consolidation, and secured loan discounts; details not disclosed |
Read the Full Upgrade Personal Loans Review
Best for Low Minimum Credit Score : Upstart
- APR Range: 6.60% – 35.99%
- Loan Amount: $1,000 – $50,000
- Loan Terms: 36 months – 60 months
On Investopedia
Why We Chose It
Upstart says its AI loan underwriting system results in lower-cost loans for more borrowers with less risk to the lender. In practice, that means it accepts borrowers with credit scores as low as 300. Moreover, students and college graduates with an income can qualify without a credit history.
Pros & Cons
Pros
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Low minimum credit score
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Fast funding
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A wide range of loan amounts
Cons
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Potentially high origination fee
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High APRs for some borrowers
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Fewer loan term options than competitors
Overview
If your credit score is below 580, you don’t have many options to borrow. Loan offers you do receive will be expensive, with high origination fees and APRs. Upstart’s minimum required credit score of 300 is the lowest of the 59 lenders in our database. It will even consider borrowers without a credit score. Despite this flexibility, its rates, fees, and terms are not prohibitively expensive.
Upstart works with various lenders with different underwriting requirements, so borrowers with weaker or stronger credit profiles will match with lenders offering rates and terms that fit. Loan amounts range from $1,000 to $50,000, covering a range of borrower needs.
Rates start at 6.60% and max out at 35.99%, the industry's de facto APR cap. (That rate cap is linked to the Military Lending Act, which limits APRs on consumer loans for military service members at 36%.)
Upstart has made available nearly $40 billion in credit of various types through its platform, including personal loans, since it was founded in 2012. The fintech lender is headquartered in San Mateo, Calif.
Additional Details
| Minimum Credit Score | 300 |
|---|---|
| Origination Fees | 0%–12% |
| Membership Requirement | None |
| Available Discounts | None |
Read the Full Upstart Personal Loans Review
Best Big Bank : Citibank
- APR Range: 8.99% – 19.49%
- Loan Amount: $2,000 – $30,000
- Loan Terms: 12 months – 60 months
On Investopedia
Why We Chose It
Not all major national banks offer unsecured personal loans (Bank of America, for example), but Citibank rated the highest in our scoring among those that do. The bank’s maximum advertised APR is low, and existing Citibank customers are eligible for same-day funding. Plus, you can get in-person help with your application at a local branch.
Pros & Cons
Pros
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Low maximum APR
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No fees of any kind
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Repayment terms up to 5 years
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High J.D. Power ranking
Cons
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High starting APRs
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Lower loan limits than other lenders
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Must be an existing Citibank customer
Overview
Citibank doesn’t charge origination fees or late fees, and its maximum advertised APR is low, keeping borrowing costs down. The autopay discount of 0.50% is higher than many other lenders offer (0.25% is typical). Citigold and Citi Priority customers can get an additional 0.25% rate discount.
Another perk for existing customers is same-day funding, which is sent directly to their Citibank account. In the 2024 J.D. Power Consumer Lending Satisfaction Study, Citibank ranked third.
With all that in its favor, it’s disappointing that Citibank now limits personal loan applications to existing customers.
Citibank, founded in 1812, is the third-largest U.S. bank, with total assets exceeding $1.7 trillion, as of September 2024. It operates 648 branches in the U.S. In a $70 billion deal, Citicorp and Travelers Group merged in 1998 to form Citigroup.
Additional Details
| Minimum Credit Score | No stated minimum |
|---|---|
| Origination Fees | None |
| Membership Requirement | None; existing customers can borrow up to $50,000 |
| Available Discounts | 0.50% autopay; 0.25% for Citigold and Citi Priority customers |
Read the Full Citibank Personal Loans Review
Best for Small Loan Amounts : Lake Michigan Credit Union
- APR Range: 9.99% – 18.00%
- Loan Amount: $250 – $25,000
- Loan Terms: 1 month – 60 months
On Investopedia
Why We Chose It
A local credit union is your best bet for an affordable personal loan. This is especially true if you want a loan under $1,000. We chose Lake Michigan Credit Union as the Best for Small Loan Amounts because its minimum of $250 is the lowest in our database of 59 lenders, but plenty of credit unions have minimums of $300 or $500.
Pros & Cons
Pros
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Small loan amounts
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No origination fees
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Credit life and disability insurance available
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Option to skip a monthly payment for $25
Cons
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No pre-qualification
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Membership required
Overview
We chose LMCU as Best for Small Loans because of its $250 minimum. However, many credit unions offer loans under $1,000 and even under $500, so you have plenty of options.
You won’t pay an origination fee on a loan from LMCU. Because it is a federal credit union, you won’t pay more than 18% interest. If something unexpected happens, you can skip a monthly payment (for a $25 fee), up to twice a year. The minimum credit score of 650 means LMCU loans are available to people with “fair” credit. You can also apply with a co-borrower.
Unfortunately, LMCU does not offer pre-qualification; you must complete an application to see what rates and terms you are approved for. That means a slight negative hit to your credit score. And because it’s a credit union, you need to become a member to borrow. If you don’t meet LMCU’s affiliate or regional qualifications, you can join by donating $5 to the ALS Foundation.
LMCU was founded in 1933. Today, it has over $14 billion in assets and more than 600,000 members. It’s the largest financial institution headquartered in West Michigan.
Additional Details
| Minimum Credit Score | 650 |
|---|---|
| Origination Fees | None |
| Membership Requirement | Yes |
| Available Discounts | None |
Read the Full Lake Michigan Credit Union Personal Loans Review
Best for Military Members : Navy Federal Credit Union
- APR Range: 8.99% – 18.00%
- Loan Amount: $250 – $50,000
- Loan Terms: 6 months – 180 months
On Investopedia
Why We Chose It
With Navy Federal Credit Union, eligible service members and their families qualify for personal loans with no origination fees, low rates, and same-day funding. You can borrow up to $50,000, and if you’re borrowing for a home improvement, you will have up to 180 months (15 years) to repay it.
Pros & Cons
Pros
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Same-day funding
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Strong customer-service ratings
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Wide range of loan amounts and terms
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Allows co-borrowers
Cons
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Membership restrictions
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Doesn’t offer pre-qualification
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No online application for some loan types
Overview
Navy Federal Credit Union’s personal loans have a lot to offer. Borrowers can choose from a wide range of loan amounts and terms and rates start at 8.99% and won’t exceed 18%. Plus, there are no origination fees. If you’re borrowing at least $30,000 for a home improvement, you can take up to 180 months to pay it off. Just be aware that late payments will result in a $29 late payment fee.
Navy Federal earned the second-highest score in the 2024 J.D. Power Consumer Lending Satisfaction Study and a Combined Consumer Review rating of 4.5 (out of 5). This rating, developed by Investopedia researchers, is an aggregate of consumer review ratings on two third-party review sites: Trustpilot and the Better Business Bureau.
Unfortunately, only military service members, Department of Defense personnel, and their families can join. Another knock against Navy Federal is that it does not offer pre-qualification; you’ll need to complete a loan application to learn the rates and terms you qualify for. Moreover, you’ll need to join the credit union before you can begin an application.
Navy Federal, founded in 1933 and headquartered in Vienna, Virginia, is the nation’s largest credit union.
Additional Details
| Minimum Credit Score | Not disclosed |
|---|---|
| Origination Fees | None |
| Membership Requirement | Yes |
| Available Discounts | None |
Read the Full Navy Federal Personal Loans Review
Best Credit Union : Patelco Credit Union
- APR Range: 9.30% – 17.90%
- Loan Amount: $300 – $100,000
- Loan Terms: 6 months – 84 months
On Investopedia
Why We Chose It
We’ve already mentioned that a local credit union should be your first stop when shopping for a personal loan. Patelco Credit Union is the highest-scoring credit union in our rating model, and it’s no wonder why. It offers a broad range of loan amounts and terms, charges no origination fees, and offers pre-qualification and reasonable APRs.
Pros & Cons
Pros
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No origination fees
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Discount for consecutive on-time payments
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Numerous hardship repayment options
Cons
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No creditor direct pay
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Does not report to all three credit bureaus
Overview
Patelco Credit Union may not be a household name. Still, its broad range of personal loan options, competitive rates, customer support tools and resources, and enticing rate discounts are worth noticing. You can borrow as little as $300 and as much as $100,000. Repayment terms range from 6 months to 84 months. Patelco even offers credit builder loans if you want to boost your credit score.
Patelco offers two rate discounts. The first is a customer loyalty discount of 0.10% for members with several accounts that meet deposit or loan minimums. The second, a 0.50% reduction, rewards borrowers who make on-time payments for 12 consecutive months. This one can be earned three times for a rate discount of up to 1.50%. Patelco also offers payment protection insurance and several hardship programs if borrowers need more time to make a payment.
Membership is easy. You’re eligible if you live or work in a few northern California counties. If you don’t, you can join the Financial Fitness Association (Patelco will cover the fee).
Patelco Credit Union was founded in 1936 by Pacific Telephone & Telegraph Company employees. Its headquarters are in Dublin, California, with over $9 billion in assets and 450,000 members.
Additional Details
| Minimum Credit Score | 640 |
|---|---|
| Origination Fees | None |
| Membership Requirement | Yes |
| Available Discounts | 0.10% customer loyalty, Up to 1.50% for consecutive on-time payments |
Read the Full Patelco Credit Union Personal Loans Review