The Best Personal Loan Options for September 2023

A personal loan can be a useful tool whether you want to consolidate debt, finance a project to improve your house, or require access to a lot of money.

Personal loans provide finance for a range of uses with set monthly payments and lower interest rates than credit cards.

Below, we’ve reviewed the top national personal loan companies and highlighted your top choices.

You should anticipate rising personal loan rates throughout the year as long as interest rates are on the rise. As interest rates fluctuate and new loan options are made available, we’ll update this list frequently.



LightStream, a division of Truist Bank, offers almost everything you could ask for in a personal loan: flexible payback periods, a $100,000 maximum, no fees, and occasionally same-day funding. There is also a quite low APR range; nevertheless, your interest rate will naturally depend on your unique credit profile.

Note that compared to other loan offerings from LightStream, home repair loans as well as boat, RV, and aircraft loans have longer periods.
Remember that LightStream has strict credit standards if you have a poor credit history or a spotty financial profile.

The company was questioned about its standards for good credit and responded that there is “no single definition,” but that those who qualify for loans typically have a stable and sufficient income, a long credit history with few late payments, a “manageable” amount of revolving credit card debt, and a small amount of liquid savings.

Visit LightStream.



Low interest rates, a $100,000 maximum loan amount, and no origination, admin, or late fees are all features of SoFi’s personal loans.

Although all lenders use factors like credit history and debt-to-income ratio when assessing eligibility, it is one of the few lenders that is open about its credit score requirements. It’s important to note that SoFi frequently has specials running on their website.

Visit SoFi.

 Wells Fargo


A number of internet banks that, in many cases, lack physical branches now control the personal lending market.

Online lenders frequently provide better online personal loan terms because they don’t have any branches to maintain. But after speaking with a bank staff in person who works in their community, some consumers could feel more comfortable borrowing money.

Wells Fargo has one of the most flexible repayment options, a large variety of funding quantities, and a decent range of APRs among the major national lenders.

One warning: Wells Fargo reserves the right to modify its costs for returned payments (commonly known as NSF or nonsufficient funds payments) and late payments. And they can accumulate.

Visit Wells Fargo.

Read Also: 5 Simple Strategies to Teach Kids Financial Literacy



Avant might be a decent loan choice for people with fair credit, which is what lenders refer to as less-than-excellent credit. A firm spokesman stated that although the company will accept loan applications from everyone, those with scores of 600 or better “have the best chance of being accepted.”

Like with most financial products, you should anticipate paying more fees and higher interest for a personal loan if your financial situation is less stable or if you have ongoing credit card debt.

Administrative fees from Avant might range from 4.75% to 4.75%, depending on your credit history and place of residence. And you’ll probably pay a higher APR if your credit score is 600 or lower.

The highest APR offered by Avant is a staggering 35.95%, which over the course of a loan may cost you hundreds of dollars in interest. Be careful as you go.

Visit Avant.

Happy Money (formerly Payoff)


If you have credit card debt, Happy Money is a personal loan worth consideration because of its low credit score requirement, lower-than-average APR, and moderately flexible payback terms.

We appreciate that Happy Money, formerly Payoff, gives you the choice to verify your rate and weigh your repayment options prior to performing a hard pull on your credit. Thus, if you want to compare personal loan offers, which you should, your credit score won’t be impacted until you submit an application.

Its loan funding amounts are lower than those of many of its rivals, but because the typical American credit card bill is expected to be $5,525 by the beginning of 2022, this shouldn’t be a problem for most borrowers.

A 2021 Happy Money poll found that after the first few payments, debtors who paid off at least $5,000 in credit card debt saw an average FICO credit score rise of 40 points.

Visit Happy Money.

How to apply for a personal loan

  • Examine your credit score. Checking your credit score and history is essential before you even start looking for lenders to get a feel of your eligibility for loans and the kinds of rates you may anticipate. offers a free copy of your credit report, which only contains information on your credit history and not your credit score.
  • Compare lending proposals. Before selecting a lender, you should constantly compare offers from different ones. Many lenders may provide you with a customized rate quote without requiring you to complete an extensive application or through a thorough credit check. To get the greatest offer, compare the interest rate, costs, and loan terms.
  • Fill out the application. It’s time to apply for a loan and submit any necessary paperwork after researching lenders. A hard credit check is often necessary for this as well. Depending on your lender’s loan disbursement policy, you’ll normally receive your money within 24 hours or a few days if you’re authorized.
  • Regulate your loan. Once your loan has been accepted, make sure you check the terms and conditions and are aware of the due dates and payment options. To ensure that you never forget a payment, think about adding a calendar reminder or using autopay.

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