Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Get a joint personal loan: Our 7 best options

These top providers offer the best personal loans for joint borrowers.

See top personal loans picks View your options
Learn more about personal loans Read guide

A joint personal loan is a common way to share the responsibility of a loan. They can also help you get approved for a lower interest rate and origination fee if your coapplicant has a higher credit score than you. And since lenders look at your combined income, you can often qualify for more money with a joint personal loan.

But it’s not the same as a cosigned loan. With a joint personal loan, all borrowers must meet credit requirements on their own. We reviewed over 120 lenders before picking these seven best options for applying with a coborrower. We looked at factors like interest rates, origination fees, loan terms and minimum credit scores.

7 best lenders that accept joint applications

Best for low starting rates

LightStream personal loans


Finder rating 4.83 / 5
★★★★★

LightStream will consider your combined income and assets when you submit a joint application. This can help you qualify for loans closer to LightStream's $100,000 maximum loan amount. And it can help you get a rate close to its low starting APR. LightStream also has a program can beat rates from a competitor, depending on the offer.

  • Available in all states

if (bestPageCTAButton02acde3590ab4b429eb63bd95314e7a2 != null) { bestPageCTAButton02acde3590ab4b429eb63bd95314e7a2.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for good credit

SoFi personal loans


Finder rating 4.45 / 5
★★★★★

SoFi doesn't charge any fees on its personal loans and offers competitive rates. But what really sets it apart are the extra services that both borrowers can take advantage of. You'll both have access to career coaching, financial advice and other tools to help you make smart financial decisions after you're approved.

  • Not available in: Mississippi, Vermont

if (bestPageCTAButton99b46c71b3cd41e18c213e1051085026 != null) { bestPageCTAButton99b46c71b3cd41e18c213e1051085026.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for fair credit

Upgrade personal loans


Finder rating 4 / 5
★★★★★

Upgrade puts more of an emphasis on your monthly cash flow than your credit score, making it a great option for applying with a coborrower. Together, you both need to have at least $1,000 in cash flow per month to get approved. Applying with a joint applicant can also help you score a lower interest rate and lower the origination fee — which can run as high as 8%.

  • Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia

if (bestPageCTAButton5b054b913c9d473ab312cbc01f433e19 != null) { bestPageCTAButton5b054b913c9d473ab312cbc01f433e19.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for comparing rates

Lendvious personal loans


Finder rating 4.55 / 5
★★★★★

Lendvious is a connection service that can help you compare offers when you're not sure what rates and terms you and your joint applicant can qualify for. Filling out its online form lets you prequalify with multiple lenders in a matter of minutes. And it works with all credit types. But you might get lots of calls from its partners after you apply.

  • Not available in: Hawaii

if (bestPageCTAButton4d813c96529c4ecab8a6dab7a964fc85 != null) { bestPageCTAButton4d813c96529c4ecab8a6dab7a964fc85.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for excellent credit

Wells Fargo personal loans


Finder rating 3.65 / 5
★★★★★

This national bank could be a great choice if you or your joint applicant already have an account. On top of its already-low rates, you can qualify for a relationship discount as high as 0.5% if you're a current customer. But you might struggle to qualify if either of you have with a credit score under 670. And new customers will have to apply in person at a branch.

  • Available in all states

if (bestPageCTAButton4f79f5c882fc4bfabc78715813b16b0f != null) { bestPageCTAButton4f79f5c882fc4bfabc78715813b16b0f.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for bad credit

OneMain Financial personal loans


Finder rating 3.4 / 5
★★★★★

This provider doesn't have any fixed credit requirements and could be a good option if you or your joint applicant plan have a credit score below 670. You can get funded as soon as the same day and back your loan with collateral for a more competitive deal. But its rates start at a high 18% and can go as high as 35.99%.

  • Not available in: Alaska, Arkansas, California, Connecticut, Massachusetts, Michigan, Rhode Island, Vermont

if (bestPageCTAButton351c85836cf64d518dc8e81fa83b1763 != null) { bestPageCTAButton351c85836cf64d518dc8e81fa83b1763.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

Best for a wide range of loan amounts

DCU personal loans


Finder rating 4.5 / 5
★★★★★

With loans starting at $200, Digital Federal Credit Union has one of the widest range of loan amounts out there. It also allows you to use the money to pay for college, so you can share the expense with the student or a parent. And if your coapplicant is a Plus or Relationship member, you can qualify for an interest rate discount.

  • Not available in: Hawaii, Maine

if (bestPageCTAButton946bb5486d014bf7a494d833231c026d != null) { bestPageCTAButton946bb5486d014bf7a494d833231c026d.forEach((CTAButton) => { CTAButton.addEventListener('click', function (e) { window.finder.tracking.track('controlClicked', { control: 'link', cta: true, description: null, target: null, value: null, label: null, text: this.innerHTML.trim(), targetUrl: this.getAttribute('href'), action: 'clicked', category: 'control:link', }); }); }); } }

More places to find a joint personal loan

LendingClub

6.34% to 35.89%

$1,000 to $40,000

640

Prosper

7.95% to 35.99%

$2,000 to $40,000

640

LendingTree

Varies

$1,000 to $50,000

Good to excellent credit

FreedomPlus

7.99% to 29.99%

$7,500 to $40,000

620

Upstart

8.27% to 35.99%

$1,000 to $50,000

580 or 600, depending on state of residence

PNC Bank

Starts at 7.24%

$1,000 to $35,000

Not stated

How to apply for a joint personal loan

You can apply for a joint personal loan as long as you and your coborrower meet the lender's requirements. Before you get started, compare providers by prequalifying for a few options together.

Once you select a lender, you both need to provide the same information about your employment and personal finances on the joint application. Depending on the lender, this can be done all at once or separately. The lender will consider the application details as a whole when underwriting the loan.

Is it better to apply for a loan individually or jointly?

Whether you should apply for a loan individually or jointly depends on your relationship with your coapplicant, your credit scores and personal finances.

If you plan on sharing the expense with your coborrower, a joint personal loan makes more sense than applying on your own. Applying with a coapplicant can also help you get a lower interest rate and origination fee if you have a limited credit history or low credit score.

But if your credit score is higher, applying with a coborrower can actually hurt your personal loan application.

What are the benefits of applying with another person?

Joint application personal loans can be a viable option for several reasons, including:

  • Increase your chances of approval. If you have a lower income, are self-employed or just want to bolster your application, a joint personal loan can be a way to do it. The details of both applicants will considered by the lender instead of just yours.
  • Share an asset. If you’re planning to share the asset you’re purchasing, such as a car, a joint application could make more sense than you applying by yourself. Consider your financial situation to decide what will work best for you.
  • Access larger loan amounts. You may be eligible for a larger loan if you apply with a partner. As you both agree to manage the repayments, the lender will consider the income and financial situation of both applicants when deciding how much to lend you.
  • Consolidate large debts. If you and your partner have large debts separately, you can both save by applying for a joint debt consolidation personal loan. You can split the monthly repayment according to how much debt you contributed to the loan and benefit from the reduced interest and fees.

Compare more providers

To look at even more options — including those without joint applications — select the state you live in and your credit score range.

1 – 9 of 9
Name Product Filter Values APR Min. Credit Score Loan Amount
Credible personal loans
3.99% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Best Egg personal loans
5.99% to 35.99%
600
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
5.4% to 35.99%
None
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Upgrade personal loans
5.94% to 35.97%
600
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LendingPoint personal loans
7.99% to 35.99%
585
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
LightStream personal loans
Competitive
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
SoFi personal loans
6.99 to 22.23%
680
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
6.34% to 35.89%
600
$1,000 to $40,000
A peer-to-peer lender offering fair rates based on your credit score.
Monevo personal loans
1.99% to 35.99%
None
$500 to $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
loading

Compare up to 4 providers

Bottom line

Joint personal loans can be a convenient option for people who want to share equal responsibility in a large purchase. It can help bolster your application and increase your chance of approval if you have a lower income. However, it’s important to think about who you’re entering into the agreement with. Both of you must have the ability to manage the loan in order to make it a viable option.

As with every loan opportunity, be sure to compare your personal loan options before making your final decision.

Frequently asked questions

Answers to questions you might have about applying for a joint personal loan.

Can I get a joint personal loan with bad credit?

As long as you and your coborrower meet the lender's requirements, you can qualify for a joint personal loan even if you have a credit score below 580. Applying for a joint loan could even help you qualify for a lower interest rate and more favorable loan terms than you might have received if you applied on your own.

How is a joint loan different than a cosigner loan?

With a joint loan, your coborrower is equally responsible for the payments, and whatever is purchased with the loan is considered owned by both borrowers. A cosigner, on the other hand, is only responsible for the loan if the main borrower defaults. Applying with a cosigner can also help you meet requirements you can't on your own — like a minimum income or credit score.

How do I get out of a joint loan?

There are a few ways to get out of a joint loan, but one common option is to refinance the loan under the other borrower. This transfers the debt to a different lender and allows the agreed upon person to be solely liable for the balance.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    BrendaApril 4, 2018

    Looking for a place to add a coborrower, a lot of loan companies say they accept them but when applying, there is no place for it. Can you help? Looking for 10,000 total

    • Default Gravatar
      AshApril 5, 2018

      Hi Brenda,

      Thank you for reaching out to us and we are saddened about your loss.

      One thing you can consider is loans that accept cosigners. With having a co-signee, it will help you meet the eligibility criteria and even get better rates.

      Also, you will also read on the above page the difference between a joint application and a cosigner personal loan.

      I hope this helps.

      Please do not hesitate to reach out to us again if you have additional questions.

      Cheers,
      Ash

Go to site