Best Personal Loans for Excellent Credit for 2023

If you have excellent credit, you can qualify for some of the best personal loans on the market. These loans typically come with low-interest rates and favorable repayment terms.

Getting a personal loan with excellent credit can save you money on interest and help you pay off your debt faster. With interest rates rising, now is a good time to shop around for a personal loan.

Personal loans are a great way to consolidate debt, make a large purchase, or cover unexpected expenses. If you have excellent credit, you can qualify for some of the best personal loans on the market.

When shopping for a personal loan, be sure to compare interest rates, fees, and repayment terms. You should also consider your financial goals and needs.

Personal Loans for Excellent Credit: Best From Our Partners

What is an excellent-credit loan?

An excellent-credit loan is a type of personal loan that’s reserved for borrowers with excellent credit. Excellent credit is typically defined as a credit score of 750 or higher on the FICO® Score scale.

Borrowers with excellent credit generally qualify for the lowest interest rates and most favorable repayment terms on personal loans. If you have excellent credit, you may be able to qualify for a 0% APR introductory rate on a personal loan.

What are rates on excellent-credit personal loans?

Your credit score largely determines the interest rate you'll receive on a personal loan. If you have excellent credit, you'll pay less interest over the life of the loan than someone with lower credit scores. The term length also affects your monthly payments; generally, a longer term lowers monthly payments but increases total interest paid.

Here is what interest rates on personal loans look like, on average:

Will a personal loan hurt my excellent credit score?

Taking out a personal loan can temporarily ding your credit score. But if you make all of your payments on time and in full, your score will likely rebound within a few months. And over time, as you continue to build a positive credit history, your score should continue to rise.

How to choose the best personal loan for excellent credit

When shopping for a personal loan, it’s important to compare interest rates, fees, and repayment terms. You should also consider your financial goals and needs.

If you have excellent credit, you can qualify for some of the best personal loans on the market. These loans typically come with low-interest rates and favorable repayment terms.

Here are three considerations to keep in mind:

1. Interest rate: The interest rate on your loan will affect the total cost of your loan. Be sure to compare rates from multiple lenders before you choose a personal loan.

2. Fees: Some personal loans come with origination fees, late payment fees, or prepayment penalties. Be sure to compare the fees associated with each loan before you choose one.

3. Repayment terms: The repayment term is the length of time you have to repay your loan. Personal loans typically have terms of three to five years, but some lenders offer terms as long as seven years. Choose a loan with a repayment term that fits your needs and budget.

Next step: Pre-qualify for an excellent-credit personal loan

If you’re ready to start shopping for a personal loan, you can pre-qualify for a loan with multiple lenders. This will give you an idea of the interest rates and terms you may qualify for.

If you have excellent credit, you can qualify for some of the best personal loans on the market. These loans typically come with low-interest rates and favorable repayment terms. Here are some of the best personal loans for excellent credit.