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 Name||LightStream Personal Loans|
|Interest Rate (p.a.)||From 2.19% (fixed)|
|Comparison Rate (p.a.)|
|Interest Rate Type||Fixed|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$100,000|
- Quick response during business hours
- No fees or prepayment penalties
- Maximum loan amount $100,000
- Accepts applicants with credit scores of 680 or higher
- 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.