LightStream Personal Loans

Information verified correct on March 29th, 2017

Do you want a personal loan that comes with a competitive interest rate? Here’s what LightStream has to offer.

LightStream forms part of the national online consumer lending division of SunTrust Bank, which is amongst the leading financial services companies in the US. Through the use of proprietary technology, LightStream offers innovative products to borrowers who have fair to excellent credit.

LightStream lets you borrow money for a range of purposes, such as home improvements or adoption. LightStream offers both secured and unsecured loans based on your qualifications.

If you’re considering getting a LightStream personal loan, go through this guide first.

Product NameLightStream Personal Loans
Interest Rate (p.a.)From 2.19% (fixed)
Comparison Rate (p.a.)
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$5,000
Max. Loan Amount$100,000
Loan SecurityUnsecured

Pros

  • Quick response during business hours
  • No fees or prepayment penalties
  • Maximum loan amount $100,000
  • Accepts applicants with credit scores of 680 or higher

Cons

  • Minimum loan amount of $5,000

How does borrowing from LightStream work?

LightStream has a simple loan process:

  • Apply for a loan online.
  • You’ll usually receive a response fairly quickly (during business hours).
  • Once approved, you’ll need to e-sign your loan agreement and set up your funding details.

Depending on when you apply, you may receive approved funds as early as the same day*.

Features of a LightStream personal loan

Here are the main benefits of a LightStream personal loan:

  • Variable loan amount and term. You can borrow a minimum of $5,000 through a LightStream personal loan, and the maximum is $100,000. How much you qualify for depend on factors such as your creditworthiness, your existing financial situation and your ability to repay. The loan term can vary from 1 to 7 years. Fixed rates are as low as 2.19% with AutoPay**.
  • Use funds for different purposes. You can use the funds from a LightStream loan for a variety of different reasons. Some of these include buying a car, a boat, an aircraft or even a horse. Using the money to pay for home improvements, medical treatment, IVF, adoption or PreK-12 education is also possible.
  • Rate beat program. The rate beat program offered by LightStream ensures that you get the most competitive interest rate. LightStream will beat any other lender’s annual percentage rate (APR) by 0.10 percent, provided the other lender’s APR meets certain terms and conditions.
  • Loan experience guarantee. LightStream aims to deliver high levels of customer satisfaction. If you’re not satisfied with the loan process after receiving the funds, contact LightStream. You’ll receive a questionnaire that you have to complete and return, after which you stand to receive $100 as part of the loan experience guarantee§.
  • Fixed interest. Your LightStream personal loan comes with a fixed interest rate, so you know what your repayments will be throughout your term.
  • No prepayment penalty. You can make extra repayments towards the loan at any time without paying any penalties. You can also repay your loan early without penalty.

How much does a LightStream personal loan cost?

You can use the LightStream online loan calculator to find out how much your loan might end up costing. The entries you have to provide include loan amount, loan term and loan purpose. You then get an interest rate range that LightStream would charge should it approve your application. LightStream determines the actual interest rate after reviewing your credit profile. Applicants with excellent credit ratings are eligible for the lowest rates.

The rates LightStream displays on this loan calculator page are for loans with AutoPay. If you choose to pay via invoicing, the rate would be 0.50 percent higher.

LightStream personal loans don’t come with any additional fees.

How to apply for a personal loan from LightStream

Applying for a LightStream loan is simple and doesn’t take much time. To begin now, simply click on the “Go to Site” button. Applying requires that you meet these eligibility criteria:

  • You are at least 18 years old
  • You are an American citizen or a permanent resident of the US
  • You have good or excellent credit rating
  • Your income and assets can support your existing debt obligations as well as the desired loan amount

Applying requires that you provide some personal information, which includes the following:

  • Your name, date of birth, and social security number
  • Your home address, email address, and phone number
  • Details about your employment
  • Details about your income and expenses

LightStream provides a competitive financing option to consider, but make sure you compare your loan options before submitting your application.

Important information

You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.

 LightStream is so confident in the competitiveness of their interest rates that they will beat an interest rate (APR) presented by any other lender by .10 percentage points, if the other lender’s rate meets the terms and conditions described below:

TERMS:

  • The lender’s interest rate (APR) must not be supported by any third-party arrangements such as vehicle manufacturer subvention payments (with rates as low as 0.0% APR), other manufacturer discounts, rate buy-downs by car-buying services, or any other similar third-party subsidized rate offerings.
  • The lender’s interest rate offer must be generally available to all of its customers who share a similar credit risk profile (so that employee-discount programs or other special, limited lending programs would not qualify).
  • LightStream will offer a rate that is .10 percentage points below the specific rate offered by a competing lender.

§ After receiving your loan from LightStream, if you are not completely satisfied with your experience, please contact them. They will email you a questionnaire so they can improve their services. When they receive your completed questionnaire, they will send you $100. LightStream’s guarantee expires 30 days after you receive your loan.

LightStream reserves the right to change or discontinue their guarantee at any time. Limited to one $100 payment per funded loan. LightStream and SunTrust teammates do not qualify for the Loan Experience Guarantee.

** Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

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