How to Choose the Right Personal Loan

When comparing personal loan options, keep these key factors in mind:

• APR: Your total cost of borrowing, including interest and fees.
• Loan Terms: Choose a repayment period that fits your budget.
• Fees: Look for origination fees, prepayment penalties, or hidden charges.
• Prequalification: Use platforms that offer soft credit checks to compare without impact.

FAQs

Final Verdict

If you’re shopping for a personal loan, Credible is our #1 overall recommendation. It’s a free marketplace that lets you compare personalized offers from multiple lenders in minutes — with no impact to your credit score. This makes Credible the best starting point for most borrowers, giving you the widest view of available rates and terms.

For those who want another comparison hub, Bankrate is a close second, known for its trusted reputation and real-time APR updates that make rate shopping simple and transparent. And if you already have strong credit and prefer going directly with a lender, LightStream offers some of the most competitive rates and same-day funding for qualified borrowers.

Bottom line: Start with Credible to quickly see your best options, check Bankrate for added transparency, and consider LightStream if you have excellent credit and want direct access to low rates.