There are a number of online lenders that allow you to apply for a personal loan without ever leaving your couch. Some popular online lenders in the US include:
.Upstart
.Avant
.SoFi
.Marcus by Goldman Sachs
Before applying for a loan, it is important to compare rates and terms from multiple lenders to ensure you are getting the best deal. Additionally, you should also check your credit score and credit history to see if you qualify for a loan and at what interest rate. It’s also a good idea to check the lender’s reviews and reputation.
Please keep in mind that online personal loans can also come with a high interest rate, it’s always good to check and compare different lenders before you decide to apply.
1. LendingClub
LendingClub is an online peer-to-peer lending platform that connects borrowers with investors who provide the funds for loans. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through LendingClub, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. LendingClub will then use this information to match you with potential investors and determine your loan terms, including your interest rate and monthly payments.
Once you have been matched with an investor, you can review and accept the loan offer. If you accept, the funds will be deposited into your bank account. LendingClub’s loans are unsecured, meaning you do not have to put up any collateral.
The interest rate and fees of LendingClub loans are generally lower than credit card rates, but higher than some traditional bank loans. LendingClub’s APR ranges from 6.95% to 35.89% with loan terms ranging from 36 to 60 months.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal and check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
2. Prosper
Prosper is another online peer-to-peer lending platform that connects borrowers with investors who provide the funds for loans. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through Prosper, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. Prosper will then use this information to match you with potential investors and determine your loan terms, including your interest rate and monthly payments.
Once you have been matched with an investor, you can review and accept the loan offer. If you accept, the funds will be deposited into your bank account. Prosper’s loans are unsecured, meaning you do not have to put up any collateral.
Prosper’s interest rates range from 5.99% to 36% APR with loan terms ranging from 36 to 60 months. The fees are also typically lower than credit card rates, but higher than some traditional bank loans.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal. Also, check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
3. Upstart
Upstart is an online lender that uses a unique underwriting model, which takes into account factors beyond traditional credit scores, such as education and employment history. This allows them to approve borrowers with little or no credit history. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through Upstart, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. Upstart will then use this information to determine your loan terms, including your interest rate and monthly payments.
Once you have been approved, the funds will be deposited into your bank account. Upstart’s loans are unsecured, meaning you do not have to put up any collateral.
Upstart’s interest rates range from 7.98% to 35.99% APR with loan terms ranging from 36 to 60 months. Upstart’s rates are typically lower than credit card rates, but higher than some traditional bank loans.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal and check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
4. Avant
Avant is an online lender that specializes in providing personal loans to borrowers with less than perfect credit. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through Avant, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. Avant will then use this information to determine your loan terms, including your interest rate and monthly payments.
Once you have been approved, the funds will be deposited into your bank account. Avant’s loans are unsecured, meaning you do not have to put up any collateral.
Avant’s interest rates range from 9.95% to 35.99% APR with loan terms ranging from 24 to 60 months. Avant’s rates are typically higher than traditional bank loans but lower than some other online lenders, especially for borrowers with less than perfect credit.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal and check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
5. SoFi
SoFi (Social Finance) is an online lender that offers a variety of personal loan products, including personal loans, student loan refinancing, and mortgage loans. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through SoFi, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. SoFi will then use this information to determine your loan terms, including your interest rate and monthly payments.
Once you have been approved, the funds will be deposited into your bank account. SoFi’s loans are unsecured, meaning you do not have to put up any collateral.
SoFi’s interest rates range from 5.99% to 20.04% APR with loan terms ranging from 24 to 84 months. SoFi’s rates are typically lower than credit card rates, but higher than some traditional bank loans. They also have an unemployment protection program which will pause your loan payments if you lose your job.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal and check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
6. Marcus by Goldman Sachs
Marcus by Goldman Sachs is a digital lending platform offered by Goldman Sachs Bank USA. They offer personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses.
To apply for a personal loan through Marcus by Goldman Sachs, you can visit their website and fill out an online application. You will need to provide some basic personal and financial information, such as your income and credit score. Marcus will then use this information to determine your loan terms, including your interest rate and monthly payments.
Once you have been approved, the funds will be deposited into your bank account. Marcus’s loans are unsecured, meaning you do not have to put up any collateral.
Marcus’s interest rates range from 6.99% to 19.99% APR with loan terms ranging from 36 to 72 months. Marcus’s rates are typically lower than credit card rates, but higher than some traditional bank loans. They also don’t charge any origination fees, late fees, or prepayment penalties.
It’s always a good idea to compare rates and terms from multiple lenders to ensure you are getting the best deal and check your credit score and credit history to see if you qualify for a loan and at what interest rate before applying.
