Online Loan Finder

Enjoy a simpler application and faster turnaround than brick-and-mortar lenders.

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Online lenders use technology to give borrowers access to personal loans with just a few swipes. You can typically apply in minutes and get money as soon as the next business day. But make sure you meet the eligibility requirements and are working with a legitimate lender before you apply.

Compare 5 online lenders

LenderAPRTermsEligibility requirements
SoFi5.99% to 17.88%2 years to 7 yearsAges 18+, US citizen or permanent resident
Go to SoFi's site
Best Egg5.99% to 29.99%3 years to 5 yearsMust have a FICO® score of 640+ and be a US citizen or permanent resident. Not available in IA, WV, VT, PR, or GU.
Go to Best Egg's site
LendingClub6.95% to 35.89%3 years to 5 yearsUS citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
Go to Lending Club's site
Even Financial3.84% to 35.99%2 years to 7 yearsEligibility requirements. 550+ credit score, ages 21+, US citizen or permanent resident
Go to Even Financial, Inc.'s site
CompareFirst2.99% to 36%1 year to 5 yearsMust be a US citizen or permanent resident, age 18 or older, with a credit score of 580 or higher, and have a minimum annual income of $35,000.Read review

SoFi

This online lender offers competitive rates and perks to young professionals that you likely won’t find elsewhere. From mentoring to unusually flexible repayment options, SoFi customers get career and personal support meant to help you reach financial independence. But you’ll need to have good credit to qualify.

Best Egg

Customers love this lender that specializes in debt consolidation. As of August 2019, over 3,100 reviewers give it a 9.6 out of 10 rating on Trustpilot. It has a fast turnaround and accepts a wide range of repayment methods for an online lender, including money transfers through Western Union Quick Collect. But it could be difficult to qualify if you’re self-employed.

LendingClub

This pioneer of online peer-to-peer (P2P) lending offers loans funded by investors. It’s also one of a handful of online lenders that accepts cosigners. The downside? While the application is quick, you might have to wait as long as a week for investors to fund your loan.

Even Financial

This loan connection service can help you quickly prequalify with multiple lenders, speeding up the already-quick loan shopping process. It can be particularly useful if you have less-than-perfect credit or need to borrow more than the typical maximum of $50,000. But you might not get the best rate if your credit score is on the lower end.

CompareFirst

With low credit and income requirements, this loan connection service is meant to help millennials get their first loan — even if you have bad or no credit. Some of its partners also accept cosigners if you’re looking for a better rate. But there’s no customer service line, and its website offers fewer resources than other connection services.

How do I get an online loan?

Follow these steps to find a good deal on an online personal loan:

How to apply for a personal loan

Compare more online lenders

Updated November 17th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
5.95% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
3.84% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
3.84% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
34% to 155% (Varies by state)
No minimum
$10,000
Check eligibility in minutes and get a personalized quote without affecting your credit score.
3.99% to 35.99%
450
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
6.95% to 35.89%
640
$40,000
A peer-to-peer lender offering fair rates based on your credit score.
5.99% to 17.88%
680
$100,000
No fees. Multiple member perks such as community events and career coaching.

Compare up to 4 providers

Should I get a personal loan online?

An online personal loan could be a great option in the following situations:

  • You don’t have a lot of free time. Online loan applications are typically simple and rely on technology to verify and process your information quickly.
  • You need money fast. Whereas banks and credit unions can take as long as a few weeks to process your application, you can often get money as quick as the next business day with an online lender.
  • You want something that’s easy to manage. Online lenders are at the cutting edge of financial technology and can offer a more user-friendly experience than their brick-and-mortar counterparts.
  • Your credit report isn’t ideal. New borrowers and those with bad credit might have an easier time qualifying for a loan online than with their bank.

When might I want to consider another type of lender?

Online loans aren’t the answer to every situation. You might want to go with another type of lender in the following circumstances:

  • You prefer to stick with your bank. Some banks like Citizens Bank offer loyalty discounts. Even if yours doesn’t, keeping all of your money in the same place might be worth it.
  • You’re self-employed. It can be difficult to qualify with some online lenders if you don’t receive a pay stub.
  • You want the absolute best deal. Online lenders can be more expensive than banks and credit unions, especially if you have good to excellent credit.
  • You’re uncomfortable sharing personal information online. If you’re uncomfortable linking your bank account or entering your Social Security number in an online form, this might not be the best option for you. Especially if you’re only able to qualify with a lender that shows the hallmark signs of a scam.

Bottom line

Borrowing online is quicker and more convenient than making a trip to your local bank or credit union. To make sure you get the best deal available to you, prequalify with multiple lenders first.

You can learn more about your options by checking out our guide to personal loans.

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