Origination fees can add to the cost of a personal loan by raising your APR, even if they seem small up front. If you have good credit, you may be able to avoid these fees altogether and keep your borrowing costs lower. The lenders on this list offer no-fee personal loans, so the only cost you’ll pay is the interest on your loan.
50+ personal loan lenders reviewed and rated by our team of experts
6+ types of personal loans analyzed
Evaluated under our unbiased rating system covering 9 categories
20+ years of combined experience covering financial topics
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SoFi stands out as our top pick for overall no-fee personal loans thanks to its generous loan limits, flexible repayment terms and fast funding. It offers personal loans from $5,000 to $100,000, with repayment terms between two and seven years, and loans can be disbursed as soon as the same day.
SoFi is one of the few lenders that never charges any fees, including prepayment penalties or late fees. Origination fees are optional, not required. You can choose to pay an origination fee to qualify for a lower interest rate. However, eligibility requirements are a bit stricter than those of other lenders, and you may need a minimum credit score of 680 to qualify.
Min. credit score
680
APR
8.74% to 35.49% fixed APR
Loan amount
$5,000 to $100,000
Available in all states
SoFi stands out as our top pick for overall no-fee personal loans thanks to its generous loan limits, flexible repayment terms and fast funding. It offers personal loans from $5,000 to $100,000, with repayment terms between two and seven years, and loans can be disbursed as soon as the same day.
SoFi is one of the few lenders that never charges any fees, including prepayment penalties or late fees. Origination fees are optional, not required. You can choose to pay an origination fee to qualify for a lower interest rate. However, eligibility requirements are a bit stricter than those of other lenders, and you may need a minimum credit score of 680 to qualify.
Pros
Large loan amounts (up to $100,000)
Flexible 2–7 year repayment terms
Often no origination fee, no late fees, no prepayment penalties
0.25% autopay discount
Fast funding as soon as the same day
Cons
Minimum loan amount of $5,000 may be too high
Self-employed borrowers need two years' income history
Lowest rates may require an optional origination fee
Loan amount
$5,000 to $100,000
APR
8.74% to 35.49% fixed APR
Interest Rate Type
Fixed
Min. credit score
680
Turnaround Time
Up to 2 business days
Loan Term
2 to 7 years
Fixed rates from 8.74% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 04/24/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plusby paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.
If you're looking for low rates, LightStream can't be beat — literally. Its Rate Beat Program will beat any competing rate from another lender as long as you meet the requirements. It also offers a generous 0.5% rate discount for setting up autopay, but this must be done before funding.
And unlike many lenders, LightStream doesn't charge any fees, including late fees or NSF fees. However, there's no prequalification process, so don't be surprised when the company does a hard pull of your credit when you apply.
Min. credit score
Good to excellent credit
APR
7.24% to 25.39%
Loan amount
$5,000 to $100,000
Not available in: Iowa, West Virginia
If you're looking for low rates, LightStream can't be beat — literally. Its Rate Beat Program will beat any competing rate from another lender as long as you meet the requirements. It also offers a generous 0.5% rate discount for setting up autopay, but this must be done before funding.
And unlike many lenders, LightStream doesn't charge any fees, including late fees or NSF fees. However, there's no prequalification process, so don't be surprised when the company does a hard pull of your credit when you apply.
Pros
Up to 20 years to repay on some loan types
Autopay APR discount of 0.5%
Beats eligible competitor rates
Offers same-day funding
Cons
High starting amount of $5,000
No preapproval process
Good to excellent credit required
Loan amount
$5,000 to $100,000
APR
7.24% to 25.39%
Interest Rate Type
Fixed
Min. credit score
Good to excellent credit
Turnaround Time
As soon as same day
Loan Term
24 to 240 months
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 27% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 10/01/2024 to 12/31/2024. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
Payment example: Monthly payments for a $25,000 loan at 6.49% APR with a term of 3 years would result in 36 monthly payments of $766.11.
Maximum APR for a LightStream loan is 25.79%. Loan terms range from 24 - 240 months depending on the loan type.
Discover earns a spot on our list for its uncommon 30-day guarantee, a feature most personal loan providers don't offer. If you take out a loan and decide it's not the right fit, you can return the full amount within 30 days and avoid paying any interest. This gives borrowers a rare level of flexibility, especially when comparing multiple options or waiting on final offers from other lenders.
Beyond the guarantee, Discover offers competitive rates, no origination fees and straightforward repayment terms between 36 and 84 months. Borrowers with strong credit may see starting APRs around 7.99%, and the online application is relatively simple. Just note that Discover doesn't offer a payment grace period and charges a $39 late fee, so on-time payments are essential.
Min. credit score
660
APR
7.99% to 24.99%
Loan amount
$2,500 to $40,000
Available in all states
Discover earns a spot on our list for its uncommon 30-day guarantee, a feature most personal loan providers don't offer. If you take out a loan and decide it's not the right fit, you can return the full amount within 30 days and avoid paying any interest. This gives borrowers a rare level of flexibility, especially when comparing multiple options or waiting on final offers from other lenders.
Beyond the guarantee, Discover offers competitive rates, no origination fees and straightforward repayment terms between 36 and 84 months. Borrowers with strong credit may see starting APRs around 7.99%, and the online application is relatively simple. Just note that Discover doesn't offer a payment grace period and charges a $39 late fee, so on-time payments are essential.
PenFed is one of the few national lenders that lets you borrow as little as $600, making it a solid option if you only need to borrow a small amount. Founded in 1935, it's also one of the oldest institutions on this list. Its APRs start around 6.99%, which is very competitive, especially for lenders offering loans less than $1,000.
However, you must join PenFed Credit Union to qualify for a loan. All it takes is opening a savings account with a $5 minimum deposit. The entire application is completed online, and funding typically arrives in one or two business days.
Min. credit score
580
APR
6.99% to 17.99%
Loan amount
$600 to $50,000
Available in all states
PenFed is one of the few national lenders that lets you borrow as little as $600, making it a solid option if you only need to borrow a small amount. Founded in 1935, it's also one of the oldest institutions on this list. Its APRs start around 6.99%, which is very competitive, especially for lenders offering loans less than $1,000.
However, you must join PenFed Credit Union to qualify for a loan. All it takes is opening a savings account with a $5 minimum deposit. The entire application is completed online, and funding typically arrives in one or two business days.
Many lenders in the no-fee category don't allow coapplicants, but U.S. Bank is one of the few that do. It offers loans from $1,000 to $50,000, with APRs starting at 8.74%. U.S. Bank also offers a 0.5% discount when you set up autopay from either your U.S. Bank account or an external bank account.
It offers online prequalification so you can see rates without affecting your credit score. If approved, you may be able to close your loan online instead of having to go into a branch. Funds are typically available within one to four business days, although existing U.S. Bank customers could have funds within hours.
Min. credit score
660
APR
8.74% to 24.99%
Loan amount
$1,000 to $50,000
Available in: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming
Many lenders in the no-fee category don't allow coapplicants, but U.S. Bank is one of the few that do. It offers loans from $1,000 to $50,000, with APRs starting at 8.74%. U.S. Bank also offers a 0.5% discount when you set up autopay from either your U.S. Bank account or an external bank account.
It offers online prequalification so you can see rates without affecting your credit score. If approved, you may be able to close your loan online instead of having to go into a branch. Funds are typically available within one to four business days, although existing U.S. Bank customers could have funds within hours.
Pros
Allows coapplicants
Loan terms up to 84 months
Funding within hours for U.S. Bank customers
Cons
Not available in all 50 states
Must be a U.S. Bank customer to borrow more than $25,000
Navy Federal Credit Union is a strong pick for veterans, active-duty service members and their families because membership is limited to people with a military connection. Plus, eligible borrowers can get a 0.25% rate discount if they're active-duty or retired military.
Its personal loans range from $250 to $50,000, have no origination fees or prepayment penalties and come with APRs capped at 18%, which is lower than many lenders. NFCU also accepts joint and cosigned applications with funding that can arrive in as little as 24 hours. However, Navy Federal doesn't offer prequalification, so you'll see a hard credit check when you apply.
Min. credit score
Varies
APR
8.74% to 18.00%
Loan amount
$250 to $50,000
Navy Federal Credit Union is a strong pick for veterans, active-duty service members and their families because membership is limited to people with a military connection. Plus, eligible borrowers can get a 0.25% rate discount if they're active-duty or retired military.
Its personal loans range from $250 to $50,000, have no origination fees or prepayment penalties and come with APRs capped at 18%, which is lower than many lenders. NFCU also accepts joint and cosigned applications with funding that can arrive in as little as 24 hours. However, Navy Federal doesn't offer prequalification, so you'll see a hard credit check when you apply.
Pros
APRs capped at 18%
Funding in as little as 24 hours
Wide loan range from $250 to $50,000
Joint and cosigned loans permitted
Rate discount possible for active and retired military
Methodology: How we picked the best no-origination-fee personal loans
We reviewed more than 120 personal loan lenders and focused on the factors that matter most for no-fee borrowing. That included APR ranges, loan amounts, repayment terms, eligibility requirements and whether lenders charge origination or other upfront fees. We also compared application features like prequalification, joint-borrower options, turnaround times and state availability.
To balance the numbers with real borrower experiences, we reviewed customer feedback from the Better Business Bureau and Trustpilot and noted any meaningful perks, such as rate discounts or membership benefits. Our team continuously monitors the market and updates this list as lender offerings change. See our Personal loans rating methodology for more information on how we rate lenders.
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How we picked these
What is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
Prequalifying lets you check your potential rates and terms without affecting your credit score. Here’s how it works:
Compare lenders that offer no-fee loans. Start by narrowing your options to lenders that don’t charge origination or other fees, like those on this list.
Check each lender’s basic requirements. Make sure you meet common criteria like minimum credit score, income and debt-to-income guidelines before moving forward.
Use the lender’s prequalification tool. If your chosen lender offers prequalification, just enter your personal and financial details to see estimated rates with only a soft credit check.
Adjust your requested amount or term. Many tools let you see how different loan amounts or repayment terms affect your estimated APR.
Review your offers carefully. Look at APR, repayment term and monthly payment before deciding which lender to apply with.
Move to a full application only when ready. If you decide to move forward, complete the official application, which will likely include a hard credit check. Keep in mind that prequalification doesn’t necessarily guarantee approval.
How loan fees affect how much you pay
Loan fees, especially origination fees, raise the total cost of borrowing because they’re built into your APR, not just the amount you receive. When a lender charges an origination fee, it deducts that fee from your loan before disbursement, so you walk away with less money. But you still repay the full loan amount with interest, which increases your overall cost.
When a lender doesn’t charge fees, your APR matches your interest rate, making costs easier to compare. But a no-fee loan isn’t automatically cheaper. A no-fee loan with a higher APR can cost more than a loan that charges a fee but offers a much lower rate. Always compare APR, not just the interest rate, to understand which loan will cost less over time.
Alternatives to no-fee personal loans
If you’d prefer to avoid taking on new debt, these alternatives may help you cover expenses without a personal loan.
Yes. Many lenders offer personal loans with no origination fee, but it's still important to compare APRs since a no-fee loan isn't always the cheapest option.
It depends. A no-fee loan is more straightforward, but one with an origination fee may still cost less if the APR is significantly lower. Comparing the total cost is the best way to know which option you should choose.
Loan origination fees can range anywhere from 0.5% to 12%, but most lenders charge between 1% and 5%.
You can't always waive an origination fee, but some lenders may reduce or remove it if you have strong credit or choose a higher APR instead.
Christi Gorbett is a freelance writer with more than eight years of experience and a master's degree in English. She’s created a wide range of content for banks, financial product comparison sites, and marketing companies on topics like small business loans, credit cards, mortgages, retirement planning, lender reviews, and more.
As a former teacher, Christi excels at making complex financial topics accessible and easy to understand. Her interest in finance grew when she returned to the U.S. after living in South Korea for nearly a decade.
This shift was driven by several personal financial challenges: rebuilding her financial base after the move home, starting her own business, and catching up on retirement savings. These experiences deepened Christi’s practical understanding of finance and intensified her interest in the field.
See full bio
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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