You can also find online loans with various features and benefits, such as rate discounts, flexible payment options, and free access to credit scores. Here are some of the best online loans that you can consider, based on your credit score and needs:
Best online loans for excellent credit
If you have excellent credit, which is typically a score of 800 or higher, you can qualify for the best online loans with the lowest interest rates and the best terms. Some of the best online loans for excellent credit are offered by SoFi, LightStream, and Discover. These lenders offer loans with APRs as low as 7.49%, 7.99%, and 8.99%, respectively, with autopay.
They also offer loans with no fees, fast funding, and flexible terms. SoFi also offers perks such as unemployment protection, career coaching, and member discounts. LightStream also offers a rate beat program, where it will beat any competitor’s rate by 0.1 percentage points. Discover also offers a 30-day guarantee, where you can return the loan within 30 days and pay no interest.
Best online loans for good credit
If you have good credit, which is typically a score of 670 to 799, you can still qualify for online loans with competitive interest rates and terms. Some of the best online loans for good credit are offered by Best Egg, Happy Money, and Upstart. These lenders offer loans with APRs as low as 9.99%, 10.99%, and 11.41%, respectively, with autopay.
They also offer loans with low or no fees, fast funding, and flexible terms. Best Egg also offers perks such as rate discounts for qualified borrowers, free access to credit scores, and hardship options. Happy Money also offers perks such as financial coaching, debt payoff plans, and member rewards. Upstart also offers perks such as no prepayment penalty, education-based underwriting, and free access to credit scores.
Best online loans for bad credit
If you have bad credit, which is typically a score of 669 or lower, you may have a harder time getting approved for online loans. However, there are still some online loans that cater to borrowers with bad credit. Some of the best online loans for bad credit are offered by OneMain Financial, Avant, and LendingPoint. These lenders offer loans with APRs as low as 18.00%, 19.99%, and 15.49%, respectively, with autopay.
