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Varo personal loan alternatives

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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.

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

Compare more personal loan providers

Select your credit score and state to see other top personal loan options.

Data updated regularly
Name Product Filter Values APR Min. Credit Score Loan amount
Best Egg personal loans
5.99% to 29.99%
600
$2,000 – $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
7.86% to 35.99%
580 or 600 depending on state of residence
$1,000 – $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
LendingPoint personal loans
9.99% to 35.99%
585
$2,000 – $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$1,000 – $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
PenFed Credit Union personal loans
6.49% to 17.99%
650
$600 – $35,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
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Compare up to 4 providers

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.

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