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1. SoFi Personal Loans
Interest Rate: 5.99% - 18.85%
Loan Amount: $5,000 - $100,000
Term: 2 - 7 years
SoFi offers competitive rates and no fees, making it a popular choice. Its user-friendly application process and excellent customer service set it apart.
2. LightStream Personal Loans
Interest Rate: 4.99% - 16.99%
Loan Amount: $5,000 - $100,000
Term: 2 - 12 years
LightStream provides low-interest rates and flexible terms, ideal for borrowers with good to excellent credit.
3. Marcus by Goldman Sachs
Interest Rate: 6.99% - 19.99%
Loan Amount: $3,500 - $40,000
Term: 3 - 6 years
Marcus by Goldman Sachs stands out for its no-fee policy and customizable payment options.
4. Discover Personal Loans
Interest Rate: 6.99% - 24.99%
Loan Amount: $2,500 - $35,000
Term: 3 - 7 years
Discover offers competitive rates and a 30-day money-back guarantee, making it a risk-free option for many borrowers.
5. Payoff Personal Loans
Interest Rate: 5.99% - 24.99%
Loan Amount: $5,000 - $40,000
Term: 2 - 5 years
Payoff specializes in loans for credit card consolidation, offering tools and support to help improve your financial health.
6. Upstart Personal Loans
Interest Rate: 5.22% - 35.99%
Loan Amount: $1,000 - $50,000
Term: 3 - 5 years
Upstart utilizes artificial intelligence to provide fair rates and considers non-traditional factors in its approval process.
7. Best Egg Personal Loans
Interest Rate: 5.99% - 35.99%
Loan Amount: $2,000 - $50,000
Term: 3 - 5 years
Best Egg offers fast funding and competitive rates, especially for those with good credit scores.
8. Avant Personal Loans
Interest Rate: 9.95% - 35.99%
Loan Amount: $2,000 - $35,000
Term: 2 - 5 years
Avant is suitable for those with fair to good credit, offering a straightforward application process and fast funding.
9. LendingClub Personal Loans
Interest Rate: 8.05% - 35.89%
Loan Amount: $1,000 - $40,000
Term: 3 - 5 years
LendingClub offers a peer-to-peer lending model, providing flexibility and competitive rates.
10. FreedomPlus Personal Loans
Interest Rate: 7.99% - 29.99%
Loan Amount: $7,500 - $40,000
Term: 2 - 5 years
FreedomPlus offers personalized service and flexible terms, ideal for a wide range of borrowing needs.
Comparison Chart
To give a clearer picture, here's a comparison chart of the top 10 best low-interest personal loans of 2024:
| Lender | Interest Rate | Loan Amount | Term |
|---|---|---|---|
| SoFi | 5.99% - 18.85% | $5,000 - $100,000 | 2 - 7 years |
| LightStream | 4.99% - 16.99% | $5,000 - $100,000 | 2 - 12 years |
| Marcus by Goldman | 6.99% - 19.99% | $3,500 - $40,000 | 3 - 6 years |
| Discover | 6.99% - 24.99% | $2,500 - $35,000 | 3 - 7 years |
| Payoff | 5.99% - 24.99% | $5,000 - $40,000 | 2 - 5 years |
| Upstart | 5.22% - 35.99% | $1,000 - $50,000 | 3 - 5 years |
| Best Egg | 5.99% - 35.99% | $2,000 - $50,000 | 3 - 5 years |
| Avant | 9.95% - 35.99% | $2,000 - $35,000 | 2 - 5 years |
| LendingClub | 8.05% - 35.89% | $1,000 - $40,000 | 3 - 5 years |
| FreedomPlus | 7.99% - 29.99% | $7,500 - $40,000 | 2 - 5 years |
Key Considerations
When choosing the best low-interest personal loan, consider the following:
- Interest Rates: Look for the lowest possible rates, but also consider the annual percentage rate (APR), which includes fees.
- Loan Amount: Ensure the lender offers the amount you need.
- Repayment Terms: Choose a term that fits your financial situation.
- Fees: Be aware of any origination fees, late fees, or prepayment penalties.
By comparing these top options, you can find the best low-interest personal loan that suits your financial needs and goals for 2024. Always remember to read the fine print and understand all terms before making a decision.
