When it comes to managing your finances, a personal loan can be a powerful tool. Whether you’re consolidating debt, covering emergency expenses, or funding a major life event, choosing the right personal loan company is crucial. The most important factor to consider is the interest rate, as it directly impacts how much you’ll pay over the life of the loan.
In this comprehensive guide, we will walk you through the top 10 personal loan companies offering low interest rates in 2025. We’ve analyzed key features, APR ranges, loan amounts, repayment terms, and borrower qualifications to help you make an informed decision.
What to Look for in a Personal Loan Company
Before diving into our top picks, it’s essential to understand what makes a personal loan provider stand out. Here are some key factors to consider:
- Low APR (Annual Percentage Rate)
- Flexible repayment terms
- No hidden fees
- Fast funding
- Soft credit check for prequalification
- Good customer reviews
- Excellent customer support
Now, let’s explore the best personal loan companies that offer competitive rates and borrower-friendly features.
1. LightStream
Best for: Excellent credit borrowers seeking the lowest rates
APR Range: 7.49% – 25.49% (with AutoPay)
Loan Amounts: $5,000 – $100,000
Loan Terms: 24 – 144 months
Minimum Credit Score: 660
Why It’s Top-Rated:
LightStream, a division of Truist Bank, is known for offering some of the lowest interest rates in the personal loan market. The company even offers a Rate Beat Program—if a competitor offers a lower rate, LightStream will beat it by 0.10%. Loans are unsecured and come with no fees.
Pros:
- Exceptionally low rates for strong credit
- No fees or prepayment penalties
- Same-day funding available
Cons:
- No prequalification option
- Not ideal for fair or poor credit borrowers
2. SoFi
Best for: High loan amounts with added benefits
APR Range: 8.99% – 25.81% (with AutoPay)
Loan Amounts: $5,000 – $100,000
Loan Terms: 24 – 84 months
Minimum Credit Score: 680
Why It’s Top-Rated:
SoFi stands out by offering more than just personal loans. Borrowers get access to financial planning, career coaching, and unemployment protection. The rates are competitive, especially for those with strong credit, and there are no origination, prepayment, or late fees.
Pros:
- Member benefits and career support
- High loan maximum
- No fees
Cons:
- Requires higher credit score
- Approval can be stricter than competitors
3. Upgrade
Best for: Fair credit borrowers
APR Range: 8.49% – 35.99%
Loan Amounts: $1,000 – $50,000
Loan Terms: 24 – 84 months
Minimum Credit Score: 580
Why It’s Top-Rated:
Upgrade offers a solid option for borrowers with fair to good credit. It provides quick funding and has a streamlined prequalification process with a soft credit check. While APRs can be high for lower scores, borrowers with good credit can qualify for rates below 10%.
Pros:
- Accepts fair credit
- Quick approval and funding
- Soft pull for prequalification
Cons:
- Charges origination fees (1.85% – 9.99%)
- Higher rates for low credit scores
4. Discover Personal Loans
Best for: No-fee personal loans
APR Range: 7.99% – 24.99%
Loan Amounts: $2,500 – $40,000
Loan Terms: 36 – 84 months
Minimum Credit Score: 660
Why It’s Top-Rated:
Discover offers fixed-rate personal loans with no origination fees, no prepayment penalties, and no hidden charges. You can also return the loan within 30 days without paying interest, which adds a layer of safety.
Pros:
- No fees of any kind
- 30-day return policy
- Competitive interest rates
Cons:
- Lower maximum loan amount
- No co-signers or joint applications allowed
5. LendingClub
Best for: Debt consolidation
APR Range: 9.57% – 35.99%
Loan Amounts: $1,000 – $40,000
Loan Terms: 36 – 60 months
Minimum Credit Score: 600
Why It’s Top-Rated:
LendingClub is a peer-to-peer lending platform that excels in debt consolidation. Borrowers can use their personal loans to pay off credit cards and simplify their payments. The process is transparent, and you can prequalify with a soft credit pull.
Pros:
- Debt consolidation tools
- Soft credit check for prequalification
- Accepts joint applications
Cons:
- High APR range
- Origination fees (3% – 8%)
6. Marcus by Goldman Sachs
Best for: No-fee loans with good rates
APR Range: 6.99% – 24.99%
Loan Amounts: $3,500 – $40,000
Loan Terms: 36 – 72 months
Minimum Credit Score: 660
Why It’s Top-Rated:
Marcus offers a simple and fee-free loan experience. With no origination, late, or prepayment fees, it’s ideal for borrowers who want predictability. Borrowers can also defer one payment after 12 months of on-time payments.
Pros:
- No fees
- Payment deferral option
- Transparent and user-friendly process
Cons:
- No joint applications or co-signers
- Lower maximum loan limit
7. Best Egg
Best for: Fast funding and fair credit
APR Range: 8.99% – 35.99%
Loan Amounts: $2,000 – $50,000
Loan Terms: 36 – 60 months
Minimum Credit Score: 600
Why It’s Top-Rated:
Best Egg is a strong choice for borrowers with fair credit looking for fast access to funds. The application process is easy, and many loans are funded within one business day. Rates are competitive for qualified applicants.
Pros:
- Fast funding
- Accepts fair credit
- Soft credit check available
Cons:
- Origination fees (0.99% – 8.99%)
- No joint applications
8. Happy Money (formerly Payoff)
Best for: Credit card debt payoff
APR Range: 11.52% – 24.81%
Loan Amounts: $5,000 – $40,000
Loan Terms: 24 – 60 months
Minimum Credit Score: 640
Why It’s Top-Rated:
Happy Money is designed specifically to help borrowers pay off high-interest credit card debt. While the rates aren’t the lowest on this list, the company offers a focused service and excellent support for financial wellness.
Pros:
- Purpose-built for debt payoff
- No late fees
- Financial tools and support
Cons:
- Not suitable for general-purpose loans
- Higher minimum loan amount
9. Upstart
Best for: Thin credit files and nontraditional borrowers
APR Range: 7.80% – 35.99%
Loan Amounts: $1,000 – $50,000
Loan Terms: 36 – 60 months
Minimum Credit Score: 300
Why It’s Top-Rated:
Upstart uses AI and alternative data points like education and job history to evaluate applicants. This makes it a great option for those with limited credit history or newer borrowers. Rates vary, but those with strong non-credit factors can qualify for low interest.
Pros:
- Considers alternative credit data
- Fast funding
- Good for new credit users
Cons:
- Origination fees (0% – 12%)
- High APR ceiling
10. Avant
Best for: Bad credit personal loans
APR Range: 9.95% – 35.99%
Loan Amounts: $2,000 – $35,000
Loan Terms: 24 – 60 months
Minimum Credit Score: 580
Why It’s Top-Rated:
Avant is one of the few lenders catering to borrowers with poor credit while still offering reasonable rates. While APRs can be high for risky applicants, those with improving credit profiles may find it a great bridge loan option.
Pros:
- Accepts poor credit
- Fast approval and funding
- Fixed rates
Cons:
- Lower loan limits
- Origination and administrative fees
How to Qualify for the Lowest Personal Loan Interest Rate
Here are some tips to help you secure the lowest rate possible:
- Check Your Credit Score: Most lenders offer better rates to those with scores above 700.
- Reduce Debt-to-Income Ratio: Pay off existing debts to improve your financial profile.
- Compare Multiple Lenders: Use prequalification tools to shop for the best rates.
- Consider a Co-Signer: Adding a creditworthy co-signer can help you qualify for a lower APR.
- Avoid Hidden Fees: Look for lenders with no origination or prepayment penalties.
Final Thoughts
Finding the right personal loan can help you achieve your financial goals without unnecessary costs. The companies listed above offer a range of options to suit every credit profile, from excellent to poor. If your goal is to minimize your total cost of borrowing, focus on lenders offering low APRs, flexible terms, and zero fees.
Before applying, always compare personalized offers, read the fine print, and ensure the loan fits comfortably into your budget. Personal loans are a commitment, and the right lender can make all the difference.