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Varo personal loan alternatives
Last updated:
This online bank no longer offers loans — compare 3 lenders that do.
Varo’s personal loan program was limited in scope, but because the online fintech bank has moved away from lending, these are the best alternatives to its former offers.
Why doesn’t Varo offer personal loans?
Varo doesn’t provide any information on why it stopped offering personal loans, but it seems to now focus exclusively on its banking program. As the first fintech company to receive a national bank charter, it’s making headway in the finance industry — but this does mean you’ll need to look elsewhere for loans.
3 alternatives to Varo personal loans
We selected three of our top lenders as alternatives to Varo. They offer similar terms and perks, and you won’t need to wait for an invitation to apply.
| Lender | Best for … | Loan amount | APR | Loan term | |
|---|---|---|---|---|---|
| SoFi | Online lenders with banking options | $1,000 to $100,000 | 5.99% to 18.53% | 24 to 84 months | |
| Rocket Loans | Quick funding for loans under $25,000 | $2,000 to $45,000 | 7.16% to 29.99% | 36 to 60 months | Read review |
| Fiona | Comparing a wide range of lenders | $1,000 to $100,000 | 4.99% to 35.99% | 24 to 72 months |
Compare more personal loan providers
Select your credit score and state to see other top personal loan options.
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Does Varo offer similar loans?
As of October 2020, Varo doesn’t offer any other loan options. However, you can open a checking or savings account with it. Learn more with our review of Varo’s digital banking service.
Bottom line
With Varo out of the picture, SoFi, Rocket Loans and Fiona are three solid alternatives to its previous lending program. But before submitting an application, you should also read more about personal loans to find the right lender for your finances.
