Best Personal Loans with the Lowest Rates in April 2026
See how much your personal loan could cost in dollars, then compare real loan offers from multiple lenders
- Personal loan APRs range from about 6% to 36%. We’ll show you what those rates mean in real dollars and monthly payments.
- You could qualify even with fair or bad credit. The better your credit, the less you’ll likely pay in interest.
- ranks as the best overall personal loan lender right now based on LendingTree’s objective methodology.
- Comparing offers from several lenders can help you save thousands on your loan.
See how much your loan could cost in real dollars
Use the table below to find the average annual percentage rate (APR) for your credit score based on real LendingTree marketplace data.
Then see how much your loan could cost by plugging the average APR for your credit score into the calculator below.
| Credit tier | Average APR |
|---|---|
| Excellent (800 and above) | 15.75% |
| Very good (740-799) | 17.89% |
| Good (670-739) | 23.27% |
| Fair (580-669) | 27.79% |
| Poor (under 580) | 30.25% |
Why borrowers apply for personal loans — and how needs vary by loan size and credit score
Debt consolidation is the leading reason borrowers apply for personal loans, accounting for nearly 1 in 3 requests (31.3%), according to a LendingTree analysis of consumer loan inquiries — far ahead of “other” at 19.5%.
Demand drops off from there: 10.6% of requests are for credit card refinancing, with smaller shares citing everyday bills (8.2%) and home improvements (6.6%).
Overall, the data shows personal loans serve a wide range of needs, from debt management to short-term expenses to larger planned purchases.
Key findings
- Debt consolidation leads by a wide margin. It accounts for 31.3% of requests — well ahead of the next category — with these borrowers requesting $11,829 on average and holding midrange credit scores (602).
- Smaller loans skew toward urgent needs. Requests for everyday bills, medical expenses and car repairs are typically under $6,000 and tied to lower average credit scores (571 to 574), suggesting short-term financial gaps.
- Larger loans align with planned spending. Homebuying ($18,838) and business ($14,704) have the highest average requested amounts and somewhat higher credit scores, indicating more deliberate use.
Why borrowers apply for personal loans
| Rank | Reason for personal loan | % of personal loan requests | Avg. requested loan size | Avg. credit score |
|---|---|---|---|---|
| 1 | Debt consolidation | 31.3% | $11,829 | 602 |
| 2 | Other | 19.5% | $5,889 | 573 |
| 3 | Credit card refinancing | 10.6% | $8,995 | 602 |
| 4 | Everyday bills | 8.2% | $4,317 | 574 |
| 5 | Home improvement | 6.6% | $10,769 | 600 |
| 6 | Major purchase | 5.3% | $10,630 | 614 |
| 7 | Medical expenses | 4.6% | $5,526 | 571 |
| 8 | Moving/relocation | 3.7% | $6,292 | 575 |
| 9 | Car financing | 3.5% | $9,997 | 585 |
| 10 | Car repair | 3.1% | $3,967 | 573 |
| 11 | Business | 1.6% | $14,704 | 580 |
| 12 | Vacation | 1.2% | $5,539 | 588 |
| 13 | Wedding expenses | 0.6% | $9,336 | 593 |
| 14 | Homebuying | 0.3% | $18,838 | 606 |
| 15 | Green loan | 0.0% | $7,187 | 597 |
Study methodology
This analysis is based on anonymized personal loan inquiries on the LendingTree platform from April 2025 through March 2026. Reasons for loan requests, requested loan amounts and self-reported credit scores were provided by consumers at the time of inquiry. Percentages reflect the share of total requests during the study period.
Estimate your monthly loan payment in seconds
You don’t need to know your exact loan term (how long you’ll pay off your loan) right away. Play around with the calculator to see how your term affects your monthly payments.
Rule of thumb: Choose the shortest loan term with a monthly payment you can afford. Short loan terms mean a cheaper loan overall, but higher monthly payments. Long terms mean more expensive loans overall, but lower monthly payments.
Save money and time by comparing real offers
You’d shop around for flights. Why not your loan? LendingTree makes it easy. Instead of applying to just one lender and hoping for a good rate, see multiple lenders compete for your business — so you can choose the best offer.
Tell us what you need
Take two minutes to share a few details about yourself and how much you want to borrow. It’s free, simple and secure.
Shop your offers
LendingTree users receive 11 personal loan offers on average. Compare yours side by side to find the one that works best for you.
Get your money
Users save an average of $1,659 by choosing the offer with the lowest rate. Once you pick a lender and sign your paperwork, you could see money in your account in as little as 24 hours.
Getting multiple offers makes lenders compete for your business, which can help you get a cheaper loan.
- You could save thousands. LendingTree users save an average of $1,659 by comparing personal loan offers and choosing the best one. People with fair or good credit could save up to $3,138 by getting six or more offers.
- The best time to save is when you apply. Once you take out a loan, you’d need to refinance (get a new loan) to get lower rates and payments down the line.
Best personal loan companies right now
Best personal loan company overall
As of May 2026, is the best personal loan company according to our methodology (how we evaluate and score lenders). offers quick funding, optional fees and competitive rates.
LendingTree personal loan experts evaluate and rate lenders using an impartial, proprietary rating system that considers the factors that matter most to you: how easy loans are to qualify for, how much they cost and how easy they are to pay back. We apply the same methodology to every lender to ensure fair comparisons.
Learn more about how we rate personal loan companies.
Best alternatives:
- (low rates and accessible to people with fair credit)
- PenFed (low rates and no fees)
Best lenders by situation
| Lender recommendations | |
|---|---|
| Best personal loan lenders | , , PenFed |
| No required fees | , LightStream, PenFed, |
| Same-day funding | , LightStream, |
| Loans for bad credit | , |
| Loans for fair credit | , |
Top 10 best personal loan companies
| Lender | User rating | Best for | APR | |
|---|---|---|---|---|
|
Big loans and no fees | 6.40% to 25.29% (with discounts) |
| Lender |
|
|---|---|
| User rating | |
| Best for | Big loans and no fees |
| APR | 6.40% to 25.29% (with discounts) |
Best for: Big loans and no fees – LightStream
- APR (with discounts)
- 6.40% to 25.29%
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- Get money as soon as the same day
- No fees
- Borrow up to Not specified (most lenders only offer up to $50,000)
- 0.50% autopay discount
- Checking rates will require a hard credit pull (and knock a few points off your score)
- No due date extensions
- Must have good or excellent credit to qualify
I started the application process with LightStream using my real information. Here’s what I found:
- Application experience: LightStream’s application has more questions than usual because you’re getting real rates rather than estimates from prequalified offers. You’ll also have to create an account to see rates. That said, I love how straightforward LightStream’s application is — it anticipates and answers common questions.
- Unusual questions to prepare for: Time at current address, time with current employer, estimated home equity, checking and savings balances plus stocks and bonds, retirement assets
LightStream is one of the few personal loan lenders that offers more than $50,000, making its loans ideal for big expenses. Its competitive rates and low fees could translate to huge savings if you need a large loan.
Unlike many personal loan companies, LightStream doesn’t let you check your rates by prequalifying. If you want to see your rates and terms, LightStream will do a hard credit pull, which can cause your credit score to take a small, temporary dip.
While LightStream offers loans up to Not specified, LendingTree marketplace customers may not receive offers at this maximum loan amount.
LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants that LightStream approves have the following in common:
- At least five years of on-time payments under a variety of accounts (credit cards, auto loans, etc.)
- Stable income and the ability to handle paying their current debt obligations
- Savings, whether in a bank account, an investment account or a retirement account
What is a personal loan?
A personal loan gives you a lump sum of money — typically sent straight to your bank account — that you’ll pay back in equal monthly payments. Here’s what to know:
- Fixed interest: Interest stays the same during the loan, and so do your payments. Credit card interest goes up and down with the market.
- How to qualify: There’s no universal minimum credit score for personal loans — but the better your credit, the cheaper your loan will likely be. Learn more about personal loan requirements.
- How to apply: You can apply for a personal loan on the lender’s website or use a service like LendingTree to get quotes from up to five lenders at once.
Personal loans are a popular solution for dealing with debt. Nearly three-quarters (72%) of Americans have a personal loan, have had one in the past or have considered getting one, according to a LendingTree survey.
Track personal loan rates with LendingTree
Personal loan rates have held steady over the past year, but they remain relatively high — making it more important than ever to compare lenders and find the best offer for your credit profile.
How your credit score affects what you’ll pay
It’s hard to know how much your loan will actually cost in dollars when you’re looking at APR ranges. The example below shows how your credit score can affect the amount you pay when you borrow $5,000 over 48 months.
| Credit score range | Average APR | Monthly payment | Interest | Total cost |
|---|---|---|---|---|
| Excellent (800 and above) | 15.75% | $141.06 | $1,770.98 | $6,770.98 |
| Very good (740-799) | 17.89% | $146.59 | $2,036.21 | $7,036.21 |
| Good (670-739) | 23.27% | $161.00 | $2,727.90 | $7,727.90 |
| Fair (580-669) | 27.79% | $173.66 | $3,335.70 | $8,335.70 |
| Poor (under 580) | 30.25% | $180.76 | $3,676.37 | $8,676.37 |
Improving your credit before getting a loan will help you get lower rates and save money. You could save more than $1,804 on your loan by raising your score from “fair” to “very good,” according to a LendingTree study.
How to choose the best loan for your credit score
When comparing personal loan offers, use the LendingTree loan calculator to compare APRs, monthly payment and total interest payments. Here’s what to expect and watch out for based on your credit score:
| Your credit band | Typical loan options | Tips |
|---|---|---|
| Excellent (800 and above) | Low rates, options with no fees | Prioritize offers with low rates and no origination fee. |
| Good to very good (670 – 799) | Slightly higher rates, may need to pay fees | Lenders deduct origination fees before sending your loan, so make sure you’ll get the full amount of money you need. |
| Fair (580 – 669) | Fewer options with higher rates, fees likely | Find the offer with the lowest APR that has a monthly payment you can afford. |
| Poor (under 580) | Few options, highest rates | Add a co-borrower or collateral for lower rates and better odds of approval. |
Expert insights on finding the lowest personal loan rate
If you don’t shop around for the best rate on your next personal loan, you’re probably going to pay too much. Rates, terms and amounts can vary significantly by lender, so it is absolutely worth the effort to compare offers from multiple personal loan companies.
Life’s too expensive today to settle for paying more than you need.
More personal loan guides
How we chose the best personal loans
We reviewed more than 40 lenders and loan marketplaces that offer personal loans to determine the overall best 10 lenders. LendingTree reviews and fact-checks our top lender picks on a monthly basis.
According to our systematic rating and review process, the best personal loans come from , , , , , LightStream, , , and .
We assessed each lender across four categories: eligibility and access; cost to borrow; loan terms and options; repayment support and tools.
Our categories
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings. Read more about our editorial guidelines.
Why trust LendingTree’s methodology?
Our writers and editors dig through the facts, contact lenders directly and even go through the application process ourselves if it helps better explain what you can expect. As a Certified Financial Education Instructor℠, I’m committed to breaking down complex financial details so people can make confident, informed decisions with their money.
Jessica’s experience in editing and financial education helps shape LendingTree articles that are clear, accurate and truly useful to readers. Her certification means our recommendations are built on a foundation of consumer-first financial knowledge — not just numbers.
Frequently asked questions
Of our top picks for May 2026, offers the lowest starting rate ( APR) for secured personal loans, and PenFed offers the next-lowest starting rate ( APR with autopay) for unsecured loans.
LendingTree’s top 10 lenders offer legitimate personal loans that you can apply for online. Read about personal loan disadvantages to protect yourself from the risks that come with any personal loan.
Choosing the right personal loan lender is all about shopping around. Prequalify (check your rates) with several lenders, compare your offers and choose the one that fits your budget. You can get offers from up to five lenders at once with LendingTree.
Online-only lenders typically offer fast funding and can be easier to qualify for than traditional personal loans from brick-and-mortar banks, but they sometimes come with one-time origination fees that can make your loan more expensive.
Yes, some personal loan comparison sites are trustworthy. LendingTree writers and editors evaluate lenders impartially and don’t receive compensation for reviews. Learn more about how we review lenders.