Top 9 Personal Loans for December 2023

While it may be easy to use credit card to pay for unexpected costs or major expenses that are anticipated, high interest rates could keep the loan balances unpaid for a very long time. Personal loans may be a better option. They are usually unsecured installments loans, and can be used for almost any purpose. They have lower rates of interest, and at the end, the loan will be gone for good.

This list of 10 personal loans is designed to help you choose the best one for you.

Best for Fair CreditThe Best Loan AmountsBest for Home Improvement Loans
Our PartnerOur PartnerOur Partner
Maximum Loan AmountFrom $600 to $100,000From $1,000 to $100,000From $5,000 to $100,000
APR RangeAPR 5.40% – 35.99%APR: 4.99% – 35.99%Interest Rates: 2.99% to 19.99%
FeesVariations by lenderVariations by lenderNo,
The TermsFrom 24 to 84 MonthsFrom 24 to 84 MonthsFrom 24 to 144 Months
Minimum Credit Score580Variations by lenderNot specified

The Best Personal Loans in 2023

Below are the summaries of our top 10 personal loan picks for 2023. Each one includes more information.

  • Fair Credit: The Best
  • Best Comparison Shopping: LendingTree
  • Fiona : Best for High Loan Amounts
  • Goldman Sachs: Best For Debt Consolidation
  • Best for Recent College Graduates : SoFi
  • LightStream : Best for Home Improvement Loans
  • The Best Egg: Customer Service
  • Payoff : Best for high debt-to-income ratios
  • Upstart : Best for Limited Credit History

You may need some extra money to help you bridge the gap until you can get on your feet again. A Personal Loan can help

You can pay off your debts and unpaid bills with the help of a Personal loan. Click on your state to see if you are eligible.View Rates

Review of Best Personal Loans Companies

Credible is the Best Choice for Fair Credit


  • Can accept loans of just a few hundreds dollars
  • If Credible can’t get you the best price, they will pay you $200.


  • The site does not disclose the lender fees

Minimum/Maximum loan Amount:$600 up to $100,000
APR range:5.40% – 35.99% APR
Fees: Vary by lender
Terms of Loan:24-84 months
Minimum credit score:580Ask a CFP (r) about 4 MUSTS for your next student loan

Credible is not a lender but an online marketplace. You can submit a single form on their site and get personal loan offers from a variety of lenders. Creditible also offers mortgages and credit cards.

Due to the fact that it is an online marketplace for loans, participating lenders will lend money to borrowers who have credit scores of as low as 580. Credible is the best personal loan provider for those with average or fair credit. This is important because those with low credit scores often need the most personal loans.

Not only do they offer credit cards and mortgages, but they also offer student loans and refinancing of student loans.

If you find a personal loan with a lower rate, Credible will give you $200. This practically ensures they offer the lowest rates.

LendingTree is the best comparison shopping site


  • You can choose from multiple loan offers on the Internet and receive them all at once.
  • The competition between lenders can lead to the lowest possible rate.


  • Even after choosing the best personal loan, you will likely continue to receive solicitations from lenders.

Minimum/Maximum loan Amount:$1,000 up to $100,000
APR range:4.37% – 35.99%
Fees :0% – 10%
Terms of Loan:24 – 144 months
Minimum credit score:585

LendingTree, another online marketplace for loans, offers personal loans up to $100,000 and terms of 12 years. Like Credible, you can also get mortgages, car loans, and credit cards through LendingTree.

Based on our site search, LendingTree offers personal loans from no less than 11 lenders. This includes not only some of industry’s biggest personal loan providers, but also many of the lenders listed in our guide.

Fiona is the best for high loan amounts


  • Online marketplace for loans where you can submit a simple form and get multiple quotes
  • Borrow up $100,000 for 84 months


  • Minimum credit score not indicated
  • The cost of loans varies by lender

Minimum/Maximum loan Amount:$1,000 up to $100,000
APR range:4.99% – 35.99% APR
Fees: Vary by lender
Terms of Loan:24-84 months
Minimum credit score: Varys by lender

Fiona offers personal loans to suit any need. Rates start at 4.99% and the terms range from 24 to 84 month.

Fiona, like Credible and LendingTree is an online marketplace for loans where you can compare quotes from multiple lenders after completing one application.

Marcus by Goldman Sachs is the best debt consolidation program.


  • Personal loan rates are low among lenders
  • There are no upfront fees and late payment fees


  • No loans to borrowers with credit scores below average
  • No co-signers allowed

Minimum/Maximum loan Amount: $3,500 to $40,000
APR range:6.99% – 19.99% APR
Terms of Loan: 36 to 72 months
Minimum credit score:660Marcus by Goldman Sachs Personal loans can be a great way to consolidate debt. They offer terms from 36 to 72 month, and current interest rates range between 6.99% – 19.99%. This will allow most borrowers consolidate their debt and eliminate high-interest credit cards.

Marcus by Goldman Sachs also offers high-interest online savings accounts. This can be the ideal platform to pay off debts and accumulate new savings.

SoFi: Best for recent college graduates


  • Maximum loan amounts
  • Provides unemployment protection
  • Other financial services are also available


  • Minimum credit score 680 excludes people with fair or average credit.
  • Minimum loan amount

Minimum/Maximum loan Amount:$5,000 up to $100,000
APR range:*8.99-25.81%
Terms of Loan:24-84 months
Minimum credit score:680

*Personal loan Disclaimer: Fixed rates between 8.99% APR and 25.81% reflect a 0.25% autopay rate discount as well as a 0.25% rate discount for direct deposit. The SoFi rates are valid as of 05/19/23, and may change without prior notice. Not all applicants are eligible for the lowest rates. The lowest rates are reserved for creditworthy borrowers. The actual rate you pay will fall within the range listed. It will also depend on your creditworthiness and income.

The loan amounts vary from $5,000 to $100,000. The annual percentage rate (APR) is your cost of credit expressed as an annual rate. It includes both the interest rate you pay and the origination fee, which can range from 0% to 6%. The lowest rates are reserved for creditworthy borrowers. The actual rate you pay will fall within the ranges of rates above, depending on many factors including your creditworthiness, income and other factors. APR terms and examples are available.

Autopay: To qualify for the SoFi 0.25% interest rate reduction, you must agree to pay monthly principal and interest by automatic deductions from your savings or checking accounts. If you don’t pay automatically from your savings or checking accounts, the benefit will be discontinued and lost. Autopay isn’t required to get a loan with SoFi.

Direct Deposit Discount: You may be eligible for an additional (0.25%), interest rate reduction when you set up direct deposit on a SoFi Savings and Checking account provided by SoFi Bank N.A. You must open a Direct Deposit Account in the first 30 days after funding your loan. You will be eligible to receive the discount if you enable payroll direct deposits to your Direct Deposit Account of at least $1000 per month, in accordance with SoFi’s reasonable procedures. This discount will not be available during the periods when SoFi determines that you have stopped direct deposits into your Direct Deposit Account. Direct Deposits are not necessary to receive a loan.SoFi The company’s original goal was to refinance student loans. It has expanded its product range to include personal loans, credit cards and other types of loans.

Also, they offer a wide range of financial services including budgeting, investing, insurance and banking. If you are one of SoFi’s 3.5 million members, you might even be able to access free financial advisors.

The Best Home Improvement Loans LighStream


  • The industry’s lowest interest rates
  • Borrowing up to $100,000
  • Finance terms of up to 12 years (12 months)


  • Creditworthiness and deep credit history are required
  • Borrowers are required to prove ownership of financial and real assets

Minimum/Maximum loan Amount:$5,000 up to $100,000
APR range: 2.99% to 19.99%
Terms of Loan:24 to 244 months
Minimum credit score:High but not specified

LightStream is an online personal loan service offered by Truist Bank, formerly SunTrust. Direct lender, the company offers personal loans of up to $100,000. The company offers low-interest rates and terms up to 144 month. LightStream is a great source of personal loans for home improvements because you can stretch out your payments for up to 12 years.

LightStream also offers personal loans that are at the upper end of the spectrum. They offer loans to those who have excellent or good credit and no delinquent history. You must also be financially stable, have real estate and financial assets.

Best Customer Service: Egg


  • You can borrow up to $50,000.
  • Customer service rating
  • Acceptance of credit scores as low 600


  • Minimum income requirement: $100,000
  • Up to 5.99% as a loan origination fee

Minimum/Maximum loan Amount:$2,000 up to $50,000
APR range:5.99% – 35.99% APR
Fees:0.99% – 5.99%
Terms of Loan: 36 or 60 month
Minimum credit score: 600

The Best Egg is known for its excellent customer service. The Better Business Bureau has given the company an A+ rating, the highest possible rating. They also scored 4.89 stars out of 5 from consumers who reported to the BBB. This is remarkable, given that consumers have a tendency to harbor negative feelings towards their lenders.

Best Egg is an online lender. Loans are provided by the New Jersey-based Cross River Bank. The company does not require a credit score below 600 but it does require a minimum income of $100,000.

Payoff is the best option for high debt-to-income ratios


  • Payoff charges only a small origination fee.
  • Payoff will take into account borrowers who have a debt to income ratio of up to 50%


  • Only debt consolidation loans are eligible for loan proceeds
  • The origination fee for loans can be as high as 5%
  • The minimum loan amount is $5,000, which is at the higher end of the range of personal loans

Minimum/Maximum loan Amount:$5,000 up to $40,000
APR range:5.99% – 24.99% APR
Fees :0% – 5%
Terms of Loan:24 or sixty months
Minimum credit score:640

Payoff is an online direct lender that offers personal loans. These loans, unlike those offered by other lenders of personal loans, are only available for consolidation. This may be the reason why the company is called Payoff. Rates as low as 5.99% are offered on loans up to $40,000. The loan term can be 24 or 60 month. Expect to pay a fee of up to 5%.

Payoff has the advantage of accepting higher debt-to income ratios. Payoff accepts borrowers who have a debt to income ratio of up to 50%. Most personal loan lenders only allow a ratio of 40% or 45%.

Upstart is the best option for those with limited credit history.


  • Accepting applicants with low or no credit ratings
  • Interest rates are at the low end of the market


  • Origination fees as high as 8 %

Maximum and Minimum Loan Amount From $1,000 to $50,000
APR Range APR 3.09% to 34.999%
Fees: From 0% to 8%
Loan Terms You can choose between 36 or 60 month
Minimum Credit Score 600

Upstart provides personal loans as well as other financing options. This includes medical loans, home improvement loans, and auto loan refinancing. Rates as low as 3.09% are available for loans up to $50,000. Upstart has a low minimum credit score of 600. This makes it a great option for those with fair or average credit.

Upstart offers a big advantage in that they will consider borrowers who have a very limited or no credit history. If you fall under this category, the loan amount will likely be limited.

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