Best Personal Loan Rates of 2023

If you’re in need of some extra cash for a large expense, such as home renovations, a wedding, or a medical bill, a personal loan can be a great option. Personal loans are unsecured loans, meaning that you don’t need to put up collateral like a house or car to qualify. However, because they’re unsecured, personal loans typically have higher interest rates than secured loans.

If you’re considering a personal loan, it’s important to find the best rates available to you. In this article, we’ll discuss some of the best personal loan rates of 2023.

LightStream

LightStream offers personal loans with APRs starting as low as 2.49% (with autopay). They offer loans ranging from $5,000 to $100,000 with repayment terms of 24 to 144 months. Additionally, LightStream offers a Rate Beat program where they will beat any competitor’s rate by 0.10 percentage points.

SoFi

SoFi offers personal loans with APRs starting at 5.99% (with autopay). They offer loans ranging from $5,000 to $100,000 with repayment terms of 24 to 84 months. SoFi also offers unemployment protection where they will temporarily pause your payments if you lose your job.

Marcus by Goldman Sachs

Marcus by Goldman Sachs offers personal loans with APRs starting at 5.99% (with autopay). They offer loans ranging from $3,500 to $40,000 with repayment terms of 36 to 72 months. Additionally, Marcus offers a savings program where you can earn rewards for making on-time payments.

Upgrade

Upgrade offers personal loans with APRs starting at 6.98% (with autopay). They offer loans ranging from $1,000 to $50,000 with repayment terms of 36 to 60 months. Upgrade also offers a credit health program where they provide free credit monitoring and education.

Discover

Discover offers personal loans with APRs starting at 6.99% (with autopay). They offer loans ranging from $2,500 to $35,000 with repayment terms of 36 to 84 months. Additionally, Discover offers a 30-day money-back guarantee where you can return the loan within 30 days if you’re not satisfied with the terms.

Avant

Avant offers personal loans with APRs starting at 9.95%. They offer loans ranging from $2,000 to $35,000 with repayment terms of 24 to 60 months. Avant also offers a mobile app where you can manage your loan and make payments.

When comparing personal loan rates, it’s important to consider more than just the interest rate. You should also consider factors like fees, repayment terms, and any prepayment penalties. Additionally, consider your credit score and income to see what kind of rates you qualify for.

To find the best personal loan rates for you, consider applying for pre-approval with multiple lenders. Pre-approval is a process where the lender checks your credit and income to give you an estimate of what kind of rates and terms you can expect. This can help you compare rates and find the best deal.

In conclusion, personal loans can be a great option for those in need of some extra cash. LightStream, SoFi, Marcus by Goldman Sachs, Upgrade, Discover, and Avant are all lenders offering some of the best personal loan rates of 2023. Remember to consider more than just the interest rate when comparing loans, and consider applying for pre-approval with multiple lenders to find the best deal.