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A personal loan is a big responsibility, but it can also be a great way to finance an important purchase. Many lenders offer loans with a variety of terms and rates. Some offer low rates, fees and loan amounts even for borrowers with poor credit scores.
Many online lenders allow you to prequalify without a hard pull on your credit report. This will help you compare offers.
Fees
The best personal loan lenders offer reasonable fees and are a great choice for borrowers who want to minimize loans no credit check their annual costs. Some common fees include an application fee (a nuisance fee that’s often just $25 to $50), documentation fee, and a prepayment penalty. Some loans also require collateral, such as a car or a home, which can be repossess if you fail to make payments.
If you’re looking for a personal loan with low APRs and minimal fees, use WalletHub’s free pre-qualification tool to check your odds of getting approved and compare rates and fees across lenders. We’ve compared lenders based on their APR ranges, available loan amounts, credit score requirements, and more. Best Egg is offered by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC and Equal Housing Lender or Blue Ridge Bank, a nationally chartered bank, Member FDIC, Equal Housing Lender.
Customer service
Best Egg personal loans offer competitive rates and are available to users with a variety of credit types. Their prequalification and loan application process is much quicker and simpler than those of other lenders. Their customer support hours are also extensive. They respond quickly to complaints and are well-known for their excellent service. Best Egg is an accredited business with the Better Business Bureau and has a high rating from consumers. This company is highly recommended for anyone looking for a personal loan.
Personal loans offer a variety of benefits. They typically have flexible repayment terms, competitive interest rates and easy qualifying standards. They are also usually available with more lenient credit score requirements than credit cards.
The best personal loan lenders offer a fast funding process, low fees and no prepayment penalties. They also have competitive interest rates and a wide range of loan amounts.
Best Egg
Best Egg is an online lender that offers unsecured personal loans, credit cards and financial health tools. Its products are generally well-reviewed and it has an A+ rating with the Better Business Bureau. Its credit card and debt consolidation programs are best for borrowers with good to excellent credit scores and high incomes.
Its personal loan application is simple and straightforward. It only requires an email address and a few basic personal details. It then runs a soft credit inquiry to determine the borrower’s eligibility for available rates.
Once the borrower’s application is approved, they receive their funds in as little as one to three days after verification. The funds are deposited directly into the borrower’s bank account or sent to their creditors via Direct Pay (a feature offered by a few lenders). Best Egg also allows borrowers to use their online account portal to access their FICO score. This service is free for borrowers.
LendingClub
Lending Club offers a wide range of loans including personal loans, credit cards, business loans and lines of credit. They also offer a variety of interest rates depending on the borrower’s credit score and history. In addition to offering a variety of loan types and options, the company also provides tools that allow borrowers to manage their debt. These tools include a Member Center and a debt consolidation service that can pay off multiple debts at once.
Lenders can also benefit from the platform’s automated verification process and streamlined application and underwriting processes. This allows them to offer better terms for borrowers and reduce the amount of time it takes to approve and fund a loan.
The company’s website also allows borrowers to check their eligibility for a loan by using their credit score. However, the company does not provide a detailed breakdown of what they use this information for. In addition, borrowers are not allowed to borrow more than they have in savings or other assets.
Discover
Discover offers a wide variety of credit cards that offer cash back, rewards and other benefits. It also offers student and personal loans. Its private student loans offer zero fees and the choice of a fixed or variable interest rate. Discover has a long history of customer-friendly features that set it apart from competitors.
In 2014, Discover became the first major card issuer to provide its cardmembers with free access to their FICO Credit Scores based on TransUnion data in their monthly statements along with educational content to help them better understand their scores.
In addition, the company provides its customers with Online Privacy Protection, which scans 10 people-search sites every 90 days to help protect their online information and allows them to submit a request to remove their name from such searches. It also waives the first eligible fee charged to any of its products, including its Cashback Debit, Savings and Money Market accounts.
Upstart
Upstart offers personal loans for a variety of purposes, including home improvement projects, credit card debt consolidation or unplanned expenses. Its AI-driven system considers a broad range of information to make loan decisions, including employment history, education and savings. The lender also doesn’t charge prepayment fees, but it does have a low minimum loan credit score requirement and charges an origination fee of up to 12% of the loan amount.
Its online application process is simple and requires basic information about your education, income, savings and investments. The lender lets you check rates without a credit inquiry, but if you choose to apply for a loan, Upstart will perform a hard pull that could affect your credit score. Upstart provides general customer support by phone and email seven days a week. It also offers a simple loan dashboard for managing payments. However, it doesn’t allow borrowers to add a cosigner. This is one of the few features that holds back its overall rating.