A personal loan is a fixed amount of cash you pay back in equal monthly payments over a set number of years, at a rate that never changes. That structure is the whole point. If you are carrying credit card balances at 25% or more, moving them to a fixed loan in the mid teens can save hundreds of dollars a year in interest, and it gives the debt an end date.
Three things decide which lender is right for you: how much you need, how strong your credit is, and how fast you need the money. The three lenders below each win on a different one of those. All three let you check your rate with a soft pull, so you can compare real offers side by side before anything touches your credit score.
The Best Personal Loans
Ranked by loan size, what the loan costs, and how fast the money lands. Tap a pick to jump to its card and the fine print.
SoFiBest for big loans with no required feesNo required fees · up to $100,0002
UpstartBest for thin credit and fast cashup to $75,0003
UpgradeBest for fair credit and a low monthly paymentup to $50,0001. SoFi
Best for big loans with no required fees
Best if you need $5,000 or more with solid credit.
SoFi lends $5,000 to $100,000 on 2 to 7 year terms, and no fees are required: no origination fee, no prepayment penalty and no late fees.
Check your rate with a soft pull
Pick a term from 2 to 7 years and decide whether to take the optional origination fee for a lower rate
Sign by 5:30 PM ET on a business day and most borrowers are funded the same day
Want the fine print? Fees, terms, and what you really get
The catch: the $5,000 minimum. If you need less than that, look at the next two.
2. Upstart
Best for thin credit and fast cashBest for thin credit or money in a hurry.
Upstart's model weighs your job and education along with your score, so people who get turned down elsewhere often get an offer here.
Check your rate in about five minutes with a soft pull
Compare the offer on APR, since an origination fee comes out before the money lands
Accept, and funds can be sent in as fast as 24 hours
Want the fine print? Fees, terms, and what you really get
The catch: the origination fee. You borrow $10,000 but less than that reaches your account, so compare on APR.
3. Upgrade
Best for fair credit and a low monthly paymentBest for fair credit and a low monthly payment.
Upgrade sits in the middle: a smaller minimum than SoFi and longer terms than Upstart, with a fee built into the price.
Check your rate with a soft pull and get a decision at the end of the application
Pick a term from 24 to 84 months; the longer the term, the lower the payment
Clear verifications and the money arrives within one business day
Want the fine print? Fees, terms, and what you really get
The catch: the origination fee is on every loan, so you always borrow a little more than you receive.
How to pick between them
- You need $5,000 or more and your credit is solid: start with SoFi. No required fees and the biggest loan sizes, so the APR you see is the whole cost.
- Your credit file is thin, or you need less than $5,000 quickly: go to Upstart. It looks past the score, and funding can start within a day.
- Your credit is fair and the monthly payment matters most: check Upgrade. An 84 month term keeps the payment low, but the origination fee means you borrow a little more than you receive.
Before you apply anywhere, compare installment loan options so you know what a fair rate and monthly payment look like. Then check your rate with all three. It costs nothing, none of it hits your credit, and the offers will tell you which lender actually wants your business.
SoFi vs Upstart vs Upgrade at a Glance
| Lender | Loan amount | APR | Terms | Funding | Best for | Get started |
|---|---|---|---|---|---|---|
4.0 |
$5,000 to $100,000 | 6.49% to 35.49% | 2 to 7 years | Same day | Big loans, no required fees | |
4.0 |
$1,000 to $75,000 | 6.3% to 35.99% | 3 or 5 years | As fast as 24 hours | Thin credit, fast funding | |
4.0 |
$1,000 to $50,000 | 7.74% to 35.99% | 24 to 84 months | 1 business day | Fair credit, low payment |
| Lender | Amount | APR | Funding | |
|---|---|---|---|---|
| 4.0 |
$5,000 to $100,000 |
6.49% to 35.49% |
Same day | |
| 4.0 |
$1,000 to $75,000 |
6.3% to 35.99% |
24 hours | |
| 4.0 |
$1,000 to $50,000 |
7.74% to 35.99% |
1 business day |
All three show your rate with a soft pull. Compare offers on APR, which already includes any origination fee.
Personal loan FAQ
No. SoFi, Upstart and Upgrade all use a soft credit pull to show you a rate, and a soft pull does not change your score. The hard pull only happens if you accept an offer and move forward with the full application, so you can compare all three for free.
An origination fee is a one time charge the lender takes out of your loan before the money reaches you. Borrow $10,000 with a 5% fee and $9,500 lands in your account, but you still owe $10,000. The APR already includes the fee, so compare offers on APR and on the amount you actually receive, not on the interest rate alone.
SoFi funds most loans the same day when the loan is approved and signed by 5:30 PM ET on a business day. Upstart can send funds in as fast as 24 hours after approval and signing. Upgrade sends the money within one business day of clearing verifications. In every case your own bank decides when the deposit shows up, so allow an extra day.
Upstart is the most likely to say yes, because it weighs your job and education along with your score. All three top out near 36% APR, and if the offer you get is in the high 20s or 30s, the loan is expensive. At that point borrow less, ask a local credit union for a rate, or fix the balances that are dragging your score before you take on a multi year payment.
The bottom line
Check your rate at all three in the same sitting: it takes about 15 minutes, none of it touches your score, and you will know exactly which offer costs the least. Take the lowest APR on a term you can actually afford, and set the loan to autopay the day it funds so you never pay a cent more than the number you signed for.
Oh — and if you want to actually get paid while you're at it, there are dozens of new apps and offers right now where top earners made $300+ last week. Check them out here.
