| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Credit score required | Origination fee |
|---|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Small joint personal loans | 9.57% - 35.99% | 24 to 60 months | $1,000 - $40,000 | 600 | 3.00% - 8.00% |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Large joint personal loans | 8.99% - 25.81% (with discounts) | 24 to 84 months | $5,000 - $100,000 | 680 | 0.00% - 6.00% |
 | Long-term joint personal loans | 7.49% - 25.49% (with autopay) | 24 to 144 months | $5,000 - $100,000 | Not specified | No origination fee | |
 | Fair-credit borrowers personal loans | 8.49% - 35.99% (with discounts) | 24 to 84 months | $1,000 - $50,000 | 580 | 1.85% - 9.99% | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Excellent-credit borrowers | 6.99% - 35.99% | 24 to 60 months | $2,000 - $50,000 | 560 | 1.00% - 7.99% |
Read more about how we chose our picks for the best joint personal loans.
| APR range | 9.57% - 35.99% |
| Loan amounts | $1,000 - $40,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 3.00% - 8.00% |
| Minimum credit score | 600 |
| Pros | Cons |
|---|---|
Lower minimum loan amount than some lenders Will pay creditors on your behalf on debt consolidation loans Could be approved in just a few hours | Low maximum loan amount may not meet everyone’s needs Origination fee of 3.00% - 8.00% Lackluster Google Play reviews for mobile app Depending on credit, could pay relatively high APR |
LendingClub is an online bank founded in 2007. It offers joint personal loans for credit card consolidation, debt consolidation, home improvement and balance transfers. Those looking to co-borrow a small loan for as little as $1,000 may want to check out LendingClub — but only if they have strong credit. Borrowers with less-than-stellar credit may find themselves paying an APR of nearly 35.99%.
Read our full LendingClub personal loan review.
| APR range | 8.99% - 25.81% (with discounts) |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 0.00% - 6.00% |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Loans up to $100,000 available Unemployment protection offered during economic hardship Offers 0.25% interest rate discount No late fees | Not everyone will qualify, based on minimum credit requirements High minimum loan amount Origination fee may be required for lower rates |
SoFi, another digital lender, offers unique benefits such as unemployment protection. If you lose your job, SoFi may work with you on personal loan payments and even has a Career Team to help you land your next role.
The lender also offers a few ways to discount your APR. For instance, select borrowers can opt in to pay an origination fee in exchange for a lower APR. However, borrowers looking for bad credit loans will need to look elsewhere, due to SoFi’s relatively high minimum credit requirement.
Read our full SoFi personal loan review.
| APR range | 7.49% - 25.49% (with autopay) |
| Loan amounts | $5,000 - $100,000 |
| Loan terms | 24 to 144 months |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Offers one of the longest repayment terms on the market May find a discounted APR with Rate Beat program Same day funding is possible | Company does not disclose minimum credit score requirements Mobile app is poorly rated by both Apple and Android users No prequalification |
If you need a long-term personal loan, LightStream could help. Depending on the type of loan you need, you could find a repayment term ranging from 24 to 144 months with LightStream. This subsidiary of Truist Bank also may lower your APR with its Rate Beat program. If you get an offer for an identical unsecured personal loan from another lender, LightStream could lower your APR by 0.10 percentage points. Keep in mind, though, that with no prequalification process, LightStream requires a hard credit pull to apply.
Read our full LightStream personal loan review.
| APR range | 8.49% - 35.99% |
| Loan amounts | $1,000 - $50,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 1.85% - 9.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Low minimum loan amount Low minimum credit score requirement Repayment term of up to seven years | Potential for high origination fee Fair-credit borrowers that qualify will see high APRs Email support is available, but no live chat |
The credit score needed for a personal loan varies across lenders. With Upgrade, a personal loan lending platform, you’ll only need 580. This could be important when considering a joint personal loan, since there’s a chance that your co-borrower has a lower (or higher) score than you. Upgrade’s origination fees and APRs can be steep, however, but it could still be worth it for those that don’t qualify for a loan elsewhere.
Read our full Upgrade personal loan review.
| APR range | 6.99% - 35.99% |
| Loan amounts | $2,000 - $50,000 |
| Loan terms | 24 to 60 months |
| Origination fee | 1.00% - 7.99% |
| Minimum credit score | 560 |
| Pros | Cons |
|---|---|
Some of the lowest APRs around for excellent-credit borrowers Those with less-than-perfect credit may still qualify | Maximum APR is high Long approval timeline Late payment fee is a bit steep: 5% of the unpaid amount, or $15, whichever is greater. |
Founded in 2005, Prosper is a peer-to-peer lender, meaning the company links borrowers with individual investors. Prosper’s minimum credit score requirement is low, but excellent-credit borrowers could find APRs as low as 6.99% (some of the lowest around). You’ll pay an origination fee with Prosper, but compared to some, it’s small. But take note — if you’re in a hurry, Prosper’s loan review process can take up to five days.
Read our full Prosper personal loan review.
A joint application loan (or joint personal loan) is similar to a traditional personal loan, but instead of only having one borrower, the loan has two. Both borrowers are equally responsible for the loan.
During the application process, the lender will assess both the borrower and co-borrower’s creditworthiness. If you have a less-than-perfect credit profile, a lender might be more likely to approve you for a personal loan if your co-borrower has excellent credit.
In the same way, your chances of qualifying for a larger loan amount may be higher if you apply for a joint personal loan, because a lender will be considering both you and your co-borrower’s incomes.
Lenders take a holistic approach by evaluating borrowers on a range of metrics, but knowing your credit scores is a good first step. Signing up for a credit monitoring service can help you keep your pulse on your scores and overall credit health.
Prequalification will give you an idea if you and your co-borrower meet a lender’s underwriting guidelines before actually applying for the loan. Prequalification doesn’t affect your credit score, and it’s worth prequalifying with several lenders so you can compare offers and choose the one with the most favorable terms.
Applying for a personal loan is fairly straightforward. Usually, you’ll fill out an application online. For a joint personal loan, you’ll provide your co-borrower’s information as well as your own.
You’ll both also need to provide proof of identity and income by providing copies of certain documents. These could include your driver’s licenses, passports, bank statements, W-2s or offers of employment.
If the lender approves your loan application, you and your co-borrower will sign your promissory note. Think of the promissory note as the contract between you and your lender — it spells out the terms of your loan and is a written promise that you and your co-borrower will repay your loan on time.
Once the lender receives your promissory note, you’ll receive your funds (typically by direct deposit). The time between loan approval and when your loan is released depends on your lender’s funding timeline.
Repayment typically begins 30 days after your loan is disbursed with payments due monthly. Even if you have a co-borrower, you will only receive one monthly bill.
Before applying for the loan, you should discuss with your co-borrower how you’d like to handle repayment. This may be easier for co-borrowers that share finances — many borrowers opt for automatic payments for an APR discount, and this can be tricky for borrowers who don’t have the same bank account.
Not necessarily. Yes, adding a creditworthy co-borrower could boost your odds of loan approval (depending on your own credit profile). But if your co-borrower has bad credit, no credit, excessive debt or is unemployed, your terms will likely be unfavorable (if the lender doesn’t decline your personal loan altogether).
Yes. As long as both you and your co-borrower meets the lender’s credit requirements and underwriting guidelines, you can get a personal loan together even if you aren’t married.
Yes. A co-borrower, joint borrower or joint applicant all mean the same thing: An additional person listed on a joint loan alongside the primary borrower.
