Best Personal Loans for Good Credit in January 2024

Achieve offers possible interest rate discounts if you do any of the following: add a qualified co-borrower, show proof of “sufficient” retirement funds or allow Achieve to use at least 50% of the loan to pay off your qualifying existing debt directly (when consolidating debt). Keep in mind, it can take up to three days to get your loan funds and you’ll pay an origination fee ranging from 1.99% - 6.99%, which comes out of your borrowed amount. To learn more, read our full Achieve personal loan review.

Aside from having a credit score of 620 or higher, Achieve doesn’t provide many details on how to qualify for a personal loan. This lender will also consider other factors, including your credit history, income and debt-to-income ratio.

Best Egg only offers its lowest rates to consumers who have a minimum income of $100,000 and a credit score of at least 600. And while you can get your money within one business day, it can also take up to three business days before you see your loan funds. Best Egg’s income requirements, however, may mean that those with lower income may not receive Best Egg’s lowest rates. You’ll also have to pay an origination fee that can get as high as 0.99% - 8.99%. To learn more, read our full Best Egg personal loan review.

To get a Best Egg personal loan, you’ll need a minimum credit score of 580, must be a U.S. citizen or permanent resident and have a personal checking account and physical address. You also can’t live in the following areas:

• Iowa
• Vermont
• West Virginia
• District of Columbia
• U.S. territories

With a minimum income requirement of just $25,000, you don’t need to make a lot of money to qualify for a Discover personal loan. On top of that, borrowers can also benefit from Discover’s long repayment terms and no origination fees. Unfortunately, if you want to qualify for lower rates, Discover doesn’t allow you to apply with a co-borrower. Plus, with a loan limit of $40,000, you may find larger amounts elsewhere. To learn more, read our full Discover personal loan review.

To qualify for a Discover personal loan, you’ll need to meet the following criteria:

• Minimum 720 credit score
• Minimum household annual income of $25,000
• Be a U.S. citizen or permanent resident

Because LendingPoint has a maximum borrowing limit of $36,500, this lender may be best for consumers who are looking to make small- to mid-sized purchases. Once they’ve closed on their loan, LendingPoint borrowers may receive their money within one business day. However, if you take out a LendingPoint loan, you may have to budget for a one-time origination fee that’ll be taken out of the amount you borrow. You also won’t be able to apply with a co-borrower. To learn more, read our full LendingPoint personal loan review.

Here’s what you need to know about qualifying for a LendingPoint personal loan:

• 660 minimum credit score
• Minimum annual income of $40,000
• Can’t live in Nevada or West Virginia
• Have a Social Security number
• Have a personal bank account
• Provide a government-issued ID

With loan lengths ranging from 24 to 144 months, LightStream offers one of the longest borrowing terms on the market. Not only that, but customers can also borrow up to $100,000 and get funds the same day they apply — plus, they won’t have to worry about any fees. Keep in mind that a good credit score won’t automatically qualify you for a LightStream loan — you’ll also need a solid credit background and to meet other criteria. Unfortunately, LightStream won’t allow you to prequalify, so you’ll have to go through a hard credit pull to see what they may offer. To learn more, read our full LightStream personal loan review.

LightStream only considers applicants with good-to-excellent credit scores. This lender will also consider factors, like your debt-to-income ratio, assets, credit background and payment history.

While many lenders only offer personal loans as small as $1,000 to $2,000, PenFed Credit Union offers funds as small as $600 and as high as $50,000. This loan amount flexibility provides consumers with more options, and they won’t have to worry about origination fees, either. You won’t need to be a member to apply for a PenFed loan, but you will need to become one if you choose to follow through with the application. But while anyone can become a member, PenFed’s lending criteria for its personal loans is unclear. To learn more, read our full PenFed personal loan review.

Other than a 700 credit score and a required membership, PenFed doesn’t provide much clarity as to what it specifically looks for in a borrower. Still, as far as membership goes, anyone can become a member as long as they open a PenFed savings account with a $5 deposit.

If you want to up your chances of getting approved or scoring a lower interest rate, Prosper allows you to add a co-borrower to your personal loan application. But it can take anywhere from one to three business days for Prosper to fund your personal loan, so you may not get your money quickly if that’s what you’re looking for in a lender. Be sure to also budget for a one-time origination fee — Prosper’s origination fee ranges from 1.00% - 7.99% of your borrowing amount. To learn more, read our full Prosper personal loan review.

Prosper dictates that you’ll need to meet the following requirements to access a personal loan:

• 560 minimum credit score
• Be a U.S. resident
• Not live in Iowa or West Virginia
• Have a Social Security number
• Have a U.S. bank account

It’s important to know before you apply that Reach Financial personal loans can only be used for debt consolidation or refinancing credit cards. While this may not work for borrowers who need a personal loan for other purposes, consumers who are looking to refinance their debt may receive lower APRs than what they’re currently paying. Reach funds may be available within 24 hours of closing on your loan and you’ll also have the unique perk of getting free access to your credit score. To learn more, read our full Reach Financial personal loan review.

Reach Financial borrowers will need a 680 minimum credit score and at least a $20,000 annual income. In addition, you can’t reside in the following states: Colorado, Connecticut, Maine, Mississippi, New Jersey, Nevada, Oregon, Rhode Island, Tennessee, Utah, Vermont, West Virginia or Wyoming.

While most lenders take at least a day to fund your loan, SoFi can supply your money the same day you sign your agreement. On top of that, this lender will also work with you on adjusting your payments should you lose your job.If you want to qualify for lower rates, SoFi charges a 0.00% - 6.00% origination fee. However, this fee isn’t required and you can get a loan without one. To learn more, read our full SoFi personal loan review.

To qualify for a SoFi personal loan, you’ll need to check the following requirements:

• 680 minimum credit score
• Must be a a United States citizen, eligible permanent resident or nonpermanent resident
• Must be employed, have an employment offer to start in the next 90 days or another source of income

Upstart’s minimum APR of just 6.40% may prove an attractive option for good credit borrowers. On top of that, Upstart’s turnaround time is quick, funding your loan within just one business day of closing. A unique perk of Upstart is that, unlike many lenders, you can use your loan funds for student debt. However, your repayment terms are limited to just 36 and 60 months — plus, Upstart may charge you an origination fee as high as 0.00% - 12.00%. To learn more, read our full Upstart personal loan review.

Upstart requires that you meet the following criteria:

• 300 minimum credit score
• Must have a verifiable name and date of birth as well as a Social Security number
• Must have a full-time job, a full-time job offer to start in six months or another source of consistent income