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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.
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.
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.
SoFi | Online lenders with banking options | $5,000 to $100,000 | 5.99% to 18.85% | 2 years to 7 years | |
Rocket Loans | Quick funding for loans under $25,000 | $2,000 to $45,000 | 7.16% to 29.99% | 3 years to 5 years | |
Fiona | Comparing a wide range of lenders | $1,000 to $100,000 | 4.99% to 35.99% | 2 years to 7 years |
Select your credit score and state to see other top personal loan options.
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.
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.