The Best Personal Loan Lenders of 2024

Lower Interest Rates Can Save You Thousands

List updated May 2024
26,386 Real Customer Reviews
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Personal Loans Companies in Virginia

List updated May 2024
1
SHOP MULTIPLE LENDERS
Highly Recommended
9.8

Better Penny score

Credible
Updated 2024
  • APR: 6.4% - 35.99%
  • Loan Terms: 1-10 Years
  • Credit Score: Fair/Good/Excellent
  • Amounts: $600-$200,000
GET MY RATE
7352 Reviews
Trustpilot
4.8 of 5.0
TrustPilot Score

Based on 7352 User Reviews

High
Consumer Interest

Based on the past 7 days

Excellent
Products and Services

Better Penny Review Score

7352 Reviews
Trustpilot
2
ALL Credit Types
Powered By Credible
9.6

Better Penny score

PenFed
Pre-Qualify No Credit Check
  • APR: 8.49% - 17.99%
  • Loan Term: 12-60 mo.
  • Credit Score: All Credit Types
  • Loans up to $50,000
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1474 Reviews
Trustpilot
4.2 of 5.0
TrustPilot Score

Based on 1474 User Reviews

High
Consumer Interest

Based on the past 7 days

Excellent
Products and Services

Better Penny Review Score

1474 Reviews
Trustpilot
3
Powered By Credible
9.5

Better Penny score

SoFi
Get Your Rate Online in Minutes
  • Apr: 8.99% - 25.81%
  • Loan Term: 24-84 Mo.
  • Credit Score: Good/Excellent
  • Simple Online Process
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8529 Reviews
Trustpilot
4.6 of 5.0
TrustPilot Score

Based on 8529 User Reviews

Good
Consumer Interest

Based on the past 7 days

Great
Products and Services

Better Penny Review Score

8529 Reviews
Trustpilot
4
Powered By Credible
9.4

Better Penny score

Lightstream
Loans Built for You
  • APR: 7.49% - 25.49%
  • Credit Score: Good/Excellent
  • Loan Terms up to 84 Months
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73 Reviews
Trustpilot
1.6 of 5.0
TrustPilot Score

Based on 73 User Reviews

Good
Consumer Interest

Based on the past 7 days

Great
Products and Services

Better Penny Review Score

73 Reviews
Trustpilot
5
Powered By Credible
9.3

Better Penny score

Best Egg
Hassle Free Personal Loans
  • APR: 8.99% - 35.99%
  • Loan Term: 24-60 Mo
  • Credit Score: Fair/Good/Excellent
  • Get up to $50,000
GET MY RATE
8958 Reviews
Trustpilot
4.6 of 5.0
TrustPilot Score

Based on 8958 User Reviews

Average
Consumer Interest

Based on the past 7 days

Good
Products and Services

Better Penny Review Score

8958 Reviews
Trustpilot
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BetterPenny.com Score:

Our Ranking consists of the following 3 scoring criteria:

  • Total Score

    Total Score is a numerical estimate of the brand's overall quality based on reviews by anybody seeking to share a review. The brand's review score will be included in the our Total Score. If a company does not have a review rating, the total score will be determined solely by Consumer Interest.

  • Consumer Interest

    Consumer Interest is a simple calculation to determine how visitors engage with the brands on our website. User interest is based on clicks and transactions received in the last 7 days. This interest may vary based on an updated weekly average.

  • Products & Services

    Our editorial staff researches and reviews financial services based on criteria such as product and service range, ease-of-use, online accessibility, customer support, special accolades, and more. Each brand is assigned a score for each criterion based on the offerings in that category. If our staff is unable to discover information relevant to a brand's Products & Services Score, it will not be calculated.

Consumer Reviews

Credible
Read review
PenFed
Read review
Best Egg
Read review

Recent Reviews

Jay reviewed Best Egg

These guys made it easy to get a loan which blew me away on how easy. No phone calls. Answered a handful of questions and bam, I was approved within a week. I just started to build credit at the age of 50 and in this present day credit is more important than the numbers that reflect what you got in a bank account. Without sounding like I was paid to write this review I just wanna say if your looking to build credit, consolidate on some credit cards and or need cash to get yourself afloat from living paycheck to paycheck then this is the financial institute to go to for help. Thank you again because I can relax alittle bit and know that I have some money in the bank, I can help my kid at college and still not worry about how I’m gonna pay my bills and break the bank in this expensive overpriced world we live in.

Blessed🥰 reviewed PenFed

Best banking experience ever!! I enjoy being appreciated as a customer!! Smooth as silk!! I made a request for services and the whole process was seamless!! PenFed treats me like family!!

BT reviewed Best Egg

Outstanding experience with Best Egg! My interest rate is below 19%. Other loan companies wanted 27-29%. My $8700 in credit card debt is now at $0. My credit card interest rates were 27%, and paying $600 a month toward those cards was getting me nowhere because of the interest. I am saving thousands of dollars by starting fresh! One payment a month now.

It's fast to the point. It was easy to understand. The choices they offer are great rates.

Bretha reviewed Best Egg

All the people I have deal with were so helpful and friendly. When I needed help they were there. If anyone I recommend this company highly. The seem so trustworthy and honest with you.

Our #1 Consumer Choice
Highly Recommended
9.8

Better Penny score

Credible
Updated 2024
  • APR: 6.4% - 35.99%
  • Loan Terms: 1-10 Years
  • Credit Score: Fair/Good/Excellent
  • Amounts: $600-$200,000
4.8
TrustPilot Score

Based on 7352 User Reviews

High
Consumer Interest

Based on the past 7 days

Excellent
Products and Services

Better Penny Review Score

What is a Personal Loan?

A personal loan is a small amount of money that you borrow from a bank or lending institution. It is only for personal use and not to buy something that has a high value. The personal loan will have a fixed interest rate and must be paid back in a set number of months.

How Much Money Can I Borrow?

Loan amounts can be as low as $500 and as high as $100,000. The personal loan amount will depend on your income and expenses. It is recommended that you borrow only as much as you need. The lender will look at how much money you are bringing in each month and several other factors to ensure that you can pay back the personal loan.



Types of Personal Loans

  • Secured Loans
  • Unsecured Loans
  • Co-Signed Loans
  • Personal Line of Credit


Secured Loans 

This personal loan is backed by something of value that the borrower owns. This could be an automobile, a piece of real estate, or another asset.

Unsecured Loans 
This Loan is not backed by collateral or something of value. Personal loans without collateral are harder to obtain and will have a higher interest rate.

Co-Signed Loans
Are personal loans where the borrower has someone else co-sign for them. For example, if you need a personal loan but your credit history is poor and you do not qualify, a family member or friend could co-sign for the personal loan to help you. 

Personal Line of Credit
A personal financing account that allows the borrower to borrow money up to their personal line of credit agreement. This type of personal loan is best for people who want to build credit. For example, a personal line of credit is like a credit card but with no pre-set spending limit.



When Should I Get a Personal Loan?

The number reason to get a personal loan is when it is your least expensive borrowing option. Here are reasons that a personal loan makes sense.

  • Current credit limits do not match borrowing needs.
  • No collateral to offer.
  • No current low-interest credit cards.
  • Using the personal loan to pay off higher-interest debts to save money.



Choosing The Right Lender

1. Never Take the First Offer: Remember that taking the first offer can be tricky sometimes! You will get to see many offers in the market, but it is advised to take time and check out all of them carefully. The best way to go about things is by making a list of lenders operating in your area and shortlisting them to three to four options. Then choose the best offer according to your preference.

2. Allot Adequate Time for Research: It is advised that you allow at least around thirty days for doing your homework properly. This gives enough time for visiting every possible lender, checking out their offers, and then finalizing on one which appeals to you the most.

3. Avoid Brokers as Much as Possible: Brokers are good to a certain extent, but it is still better that you avoid them wherever possible. They charge a hefty fee for their services and will try to convince you of going with the first option which comes your way.

4. Look Out for Hidden Charges: Almost every lender will ask you to pay a certain processing fee. Moreover, there might be additional charges in terms of taxes and other costs which you have to bear in the initial years itself. So always look out for such charges before finalizing on a lender.

5. Check The Companies History: It is advised that you go through the entire history of an organization before opting for them. A good history will have nothing but appreciation letters, testimonials, and several other positive reviews without any complaints.




Conclusion

Personal loans are personal financing that can help with a variety of personal needs. From consolidating debt to paying for emergencies, personal loans offer people an alternative to credit cards or high-interest rates on money borrowed from friends and family members. If you're looking for the best personal loan provider, look no further than our recommended providers.


Disclaimer:

* Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 4.60% - 35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 3, 2022, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lenders will conduct a hard credit pull when you submit your application. Hard credit pulls will have an impact on your credit score. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.

Won’t impact your credit score DISCLOSURE: 

Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

Ranked List DISCLOSURE:

 “We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market.”

Editorial DISCLOSURE:

"We receive compensation from the companies if you apply for their financial service.. Amount of compensation does impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.”