 TITLE: Seven Top Online Personal Loan Lenders CONTENT: Payoff\n------\n[](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)[Apply](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)\non Payoff's website\n**Recommended FICO® Score\\***\nFair - Exceptional\nAmount\nAvailable loan amounts: $5,000 to $40,000\nEst. monthly payment: $219 to $2,075\nGrace period: 10 days\nApplication fee: $0\n##### Loan Details\n*   5.99% - 24.99% APR\n*   Pay off high-interest credit card balances and save\n*   Quickly check your rate without affecting your credit score\n*   No prepayment, late, or check-processing fees\n*   Members see an average FICO® Score boost of 40 points when paying down credit card balances\nDisclosure\nIf you want to use a personal loan to consolidate credit card debt, then Payoff might be a great option. Payoff focuses specifically on helping people pay off credit card debt. In fact, your maximum loan amount might be your current card balances. There are also minimal fees: The only one is an origination fee, which can range from 0% to 5%. If approved, you'll be able to choose from a two- to five-year repayment term.  \nProsper\n-------\n[](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)[Apply](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)\non Prosper's website\n**Recommended FICO® Score\\***\nGood - Exceptional\nAmount\nAvailable loan amounts: $2,000 to $40,000\nEst. monthly payment: $61 to $1,720\nGrace period: 0 days\nApplication fee: $0\n##### Loan Details\n*   640 minimum FICO® Score\n*   More than $16 billion loans funded\n*   Consolidate debt, finance a home improvement project, or pay off medical expenses\n*   9 out of 10 customers would recommend Prosper to friends or family\\*\\*\n*   Co-borrower option available. Applying with a co-borrower could help improve your rates.\n*   Get your money in as few as 3 days - your monthly payment stays the same\nDisclosure\nUnlike online personal loan companies that directly fund their loans, Prosper is a peer-to-peer marketplace that connects lenders and borrowers. Your application process will be similar to that of other lenders, but receiving your loan may take slightly longer. Still, it can be a good choice if you want long repayment terms. Loans through Prosper will have an origination fee, which can range from 2.41% to 5%.  \nSoFi\n----\n[](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)[Apply](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)\non SoFi's website\n**Recommended FICO® Score\\***\nGood - Exceptional\nAmount\nAvailable loan amounts: $5,000 to $100,000\nEst. monthly payment: $217 to $4,944\nGrace period: 10 days\nApplication fee: $0\n##### Loan Details\n*   Personal Loans with low fixed rates\n*   Borrow up to $100,000\n*   No Origination Fees, No Prepayment Penalties, and No Late or Overdraft Fees\n*   Simple online application with live support 7 days a week\n*   Apply Now\nDisclosure\nFor borrowers with good to excellent credit, SoFi is a top lender to consider due to its low rates and fees. It offers personal loans of up to $100,000—a higher limit than many competitors—and doesn't charge any application or origination fees. The interest rate range also starts low compared with other lenders, and borrowers may qualify for additional benefits, such as free meetings with a financial planner or career coach.  \nUpgrade\n-------\n[](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)[Apply](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)\non Upgrade's website\n**Recommended FICO® Score\\***\nFair - Exceptional\nAmount\nAvailable loan amounts: $1,000 to $50,000\nEst. monthly payment: $30 to $2,095\nGrace period: 15 days\nApplication fee: $0\n##### Loan Details\n*   Affordable loans from $1,000 - $50,000 with low fixed rates that will never change, affordable monthly payments, and no prepayment penalties\n*   Quick online application -- get pre-approved in just minutes\n*   Checking your rate won't impact your credit score\n*   Review multiple loan options so you can pick the amount and term that fits your budget and timeline\n*   With automatic payments and a customizable due date, managing your account is easy and you'll be able to circle the date on your calendar when you'll be debt free\nDisclosure\nUpgrade's personal loan offering stands out due to its wide range for rates, loan amounts and origination fee, which can be 2.9% to 8%. It also allows you to apply with a cosigner. However, there are only two repayment terms to choose from—three or five years.  \n### Upstart\n[](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)[Apply](;site=exp&placement=ae-single-embed&sessionid=7DC4F926-AD10-0AE0-DEC2-C524EC708C74&pageid=blogs:ask-experian:top-online-personal-loan-lenders&previouspageid=&ecsstaticid=4A46841E-3318-C796-9991-99E9B65F2344)\non Upstart's website\n**Recommended FICO® Score\\***\nFair - Exceptional\nAmount\nAvailable loan amounts: $1,000 to $50,000\nEst. monthly payment: $30 to $2,262\nGrace period: 15 days\nApplication fee: $0\n##### Loan Details\n*   Loan amounts from $1,000 - $50,000\n*   APRs from 6.46% - 35.99% with loan terms of 3 or 5 years\n*   Won't affect your credit score\n*   You can have funds in as fast as 1 day\n*   You are more than your credit score. On Upstart your education and experience help you get the rate you deserve.\nDisclosure\nUpstart is a lending platform that focuses on borrowers with less-than-excellent credit, and stands apart from other lenders with its unique underwriting process. When reviewing your application, Upstart considers traditional factors, such as your credit, income and debts as well as alternative data, like whether you graduated college, your major and your grade-point average. As a result, applicants with fair to good credit may get approved for larger loans or lower interest rates with Upstart than other lenders. Upstart's origination fee ranges from 0% to 8%.  \nHow to Choose a Personal Loan Lender\n------------------------------------\nBefore you apply for a personal loan, you may want to review lenders' requirements and loan offers. Here are some of the things you'll want to consider:\n*   **Your loan use**: While you can use a personal loan for almost anything, there may be some restrictions. For example, rules may vary on whether you can use the funds for business, educational or investment purposes.\n*   **Your credit**: Lenders may have a minimum credit score requirement. You can get a free FICO® Score☉ from Experian to see where you currently stand.\n*   **Minimum and maximum loan amounts**: Your creditworthiness may determine the loan size you're offered, but you'll also want to make sure the lender's maximum loan amount is high enough for your needs. While you can generally repay part or all of the loan early without a penalty, minimum amounts may be important if the lender charges an origination fee. You may also find the minimum loan amount in your state is higher than the lenders' general minimums.\n*   **Residency requirements**: While you won't need to visit a bank branch to get a personal loan from an online lender, lenders might not be approved to offer loans in every state. You don't have any control over this, but it's worth keeping in mind that your options may vary depending on where you live.\n*   **Origination or administrative fee**: Unless you have good to excellent credit, many personal loans will require an upfront origination or administrative fee. The fee is often taken out of the loan amount, which you'll want to consider when you're determined how much to borrow.\n*   **Repayment terms**: The repayment term can also impact your monthly payment and interest rate. If you want to get a low rate and pay off the debt quickly, look for a lender that offers short repayment terms. However, if you'd prefer a lower monthly payment, a longer repayment term may be a better fit.\n*   **APR ranges**: Many lenders will advertise an APR range. You won't know which rate you'll receive until you get prequalified or receive a loan offer. However, the range could help you determine whether the lender focuses on borrowers with excellent, good or poor credit (a lower minimum APR may correlate with higher credit requirements).\n*   **Time to funding**: If you need money ASAP, some lenders can transfer the funds into your bank account within one or two business days of processing your application. Make sure you have identification and verification documents, such as recent pay stubs or tax forms, ready to prevent delays.\n*   **A cosigner option**: If you can't qualify for a personal loan on your own, some companies allow you to add a cosigner to your application. A creditworthy cosigner could help you get approved and qualify you for a better offer, but the cosigner's credit will also be on the line.\nAfter narrowing down your lender options, you can often start with a prequalification application online. Getting prequalified doesn't guarantee you'll be approved, especially if there's a big change in your creditworthiness before you apply, but it can still be helpful.\nPrequalification usually requires a soft inquiry—which won't hurt your credit—and can help show you possible loan offers. If you're prequalified, you can then decide to submit an application, which may require a hard inquiry that can hurt your credit a little. If you don't get prequalified, you can rule out the lender without submitting an application or potentially hurting your credit.\nYou can also use a service, such as Experian's CreditMatch™, to compare lenders. Once you're signed in, you can even submit a single loan prequalification application to quickly get prequalified offers from multiple Experian personal loan partners. END