So you want a loan, and you don't want to put up any collateral. Great news - there are hundreds of lenders out there who provide exactly that. Prosper, LendingClub, Sofi, oh my!

Not all these lenders were created equal. We want you to find the best unsecured personal loans, so we've reviewed the top lenders and put together this comparison page. Read on to find a review of your lender and see how they stack up against the best in the business.

What is an Unsecured personal loan?

An unsecured personal loan is not backed by collateral like your home or car, so the lender cannot seize your assets if you do happen to default.

Its Simple to Apply for a Personal Loan

Information Required to Apply

  • Your credit score
  • Credit history
  • Current employment information
  • Debt to income ratio also referred to as DTI
  • You will need to be 18 years old to apply
  • A US citizen, permanent resident or in some cases a working visa

Debt To Income Ratio or DTI

Before you apply for a personal loan, you will want to know if you can manage the new monthly payment. This new loan payment, combined with what you are already paying on your existing debt, is referred to as your debt to income ratio or DTI. If you are taking a debt consolidation loan, make sure to calculate the new payment, less everything you are planning on paying off. This link will connect you to an article explaining more about debt to income and a DTI calculator to find out if you can manage the new monthly payment.

Will This Loan Application Affect My Credit Score

Most providers start with a soft credit pull and the lenders normally advertise this on their site. The lender will usually require a hard pull before they finalize the loan.

What Can We purchase with an Unsecured Personal Loan

You can use an unsecured personal loan to finance a variety of expenses including debt consolidation, auto purchase, home repairs, medical expenses, weddings, and vacations. If you're planning a major home renovation, you may want to consider a secured loan.

Unsecured Personal Loan for Debt Consolidation

It is very common to take out a personal loan and use the funds for a debt consolidation loan. If you have credit cards that you unable to pay off every month and the interest is above 20%, it is a wise step to consolidate this debt into a personal loan. If you are only making the minimum payment now on your credit card, a debt consolidation loan will start the process of reducing debt every month.

Secured or Unsecured Personal Loan

Unsecured personal loans can be more difficult than a secured loan. A good credit score is required when the loan is not secured by assets or collateral. The most common assets used for security are home equity and vehicle refinance. You may pay higher interest rates with an unsecured personal loan in comparison to a secured loan. We have added options below on secured and unsecured loans.

Loan Interest Charges

Interest rates for unsecured personal loans start near 5% with a credit score above 720. Interest rates can go as high as 35.99% if the borrower's credit score is near 590+. Some lenders charge origination fees and closing costs. The interest cost and additional fees make up the Annual Percentage Rate  (APR) of the loan.  

When credit scores are below 590, an unsecured personal loan above $1,000 may not be an option. There are lenders that specialize in bad credit loans that can help with financing with poor credit. 

Criteria for finding the Best Unsecured Personal Loan:

  • Best interest rate based on credit score?
    • Once you enter your state in the loan finder, lenders that offer loans in that state will appear. You can sort the lenders by APR, Minimum Credit score and Maximum loan amount
  • What are the origination fees for applying with the lender?
    • Not all lenders charge origination fees. They range from 0-6% 
  • How fast can you get your loan and is their information easy to understand?
    • Check the review of each lender when you find the loan provider that meet your requirements

Credit Score Chart

This credit score chart is designed to help estimate interest rate offers. There is a calculator at the bottom of the page to calculate a loan payment. Applying for a personal loan with a lower credit score is expensive. It will raise the interest rate and in many cases, shorten the term of the loan. If your credit score is not where you want it to be, apply with Novita to improve your credit score first.


ALS Detailed Review

Apply Now 

The America Loan Service online request form connects consumers to hundreds of personal loan lenders at one time with rates starting at 5.99%. The service is designed to connect consumers based on lender credit criteria. 

The process is very simple:

  • Fill out the short form, it is safe and secure
  • See if you are approved in real time from a large network of lenders
  • Check your bank account to see if the money arrived as early as the next business day if you are approved

Quick Snapshot

  • Loan Amounts: $1000 to $35,000 
  • Credit Score:  580+
  • APR:  See ALS Detailed Review for up to date APR information
  • Terms:  3 to 36 months
  • Fees: Vary by the lender

The lenders will review your request quickly to determine whether your information meets the lender's loan qualification criteria. You will receive notice within a few minutes if there is a lender interested in discussing a loan. Loans are normally funded within 1-5 business days depending on the lender and if they have all information required to fund.

If a lender is satisfied with all of the information with your request and has decided to offer you a loan, you will be directed to the lender's website. At this point, you will leave America Loan Service and we recommend that you review the terms and conditions of the lender. Take your time to go through all of the information from the loan provider. We recommend that you ask every question to be sure you fully understand the loan. The lender should explain the following information:

  • Loan amount offered
  • Finance charge and fees
  • Annual percentage rate (APR)
  • Loan term
  • Payment schedule 

Upgrade Detailed Review

Apply Now with Upgrade

Upgrade was started by two of the founding member of Lending Club, a pioneer in marketplace lending. They were part of facilitating $33 billion in loans and made credit available to over 2 million America families over the last decade.

Through Upgrade, consumers can access affordable personal loans from $1,000 to $50,000 with low fixed rates that never change. Personal Loans may be used to pay off high-interest credit cards, make home improvements, make a major purchase and much more!

Quick Snapshot

  • Loan Amounts:  $1,000 to $50,000 
  • Credit Score:  620+
  • APR:  See Upgrade Detailed Review for up to date APR information
  • Terms:  36 to 60 months
  • Fees:  1% to 6% Origination Fee and will vary by loan term
  • Debt to income of 50%
  • Funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications

Upgrade is introducing an unsecured credit line up to $50,000. Go online to Upgrade and join their waitlist.


A personal loan from SoFi could help save thousands. With low-interest rates and a fixed monthly payment, you can pay off credit cards, fund home improvements, or make a major purchase. 
Members get a 0.125% rate discount on an additional SoFi loan—just for being a member.
Financial Advisors – Members get complimentary guidance from licensed financial advisors. We also waive our fees to invest with SoFi Wealth for members.

SoFi Detailed Review

Apply Now with SoFi

Quick Snapshot

  • Loan Amounts:  $5,000 to $100,000 
  • Credit Score:  Starting at 660+
  • APR:  See SoFi review for up to date APR information
  • Terms:  3,4,5,6, or 7 years
  • Fees:  No application fees, no origination fees, and no prepayment penalties
  • Added Benefits of SoFi
    • Will consider borrowers with limited credit history with great cash flow
    • Unemployment protection: If you lose your job, SoFi will temporarily pause your payments and help you find a new job (unique to SoFi. Check out their disclaimer on the SoFi website for full details) If approved for the program, SoFi will put their loans into forbearance, suspending their monthly SoFi loan payments.
    • SoFi Personal Loans are not available to residents of MS and NV. Maximum interest rate on loans for residents of AK, OK, TX and WY is 9.99% APR, for residents of ME is 12.24% APR and for residents of CO, CT, HI, KS, SC, VA is 11.99% APR. Personal loans not available to residents of Michigan who already have a student loan with SoFi. Personal Loans minimum loan amount is $5,000. Residents of AZ, IL, MA, and NH have a minimum loan amount of $10,001. Residents of KY have a minimum loan amount of $15,001. Variable rates not available to residents of AK, IL, OK, TX, WY

Payoff Detailed Review

Apply Now with Payoff

Quick Snapshot

  • Loan Amounts:  $5000 to $35,000 
  • Credit Score:  660+ 
  • APR:  See Payoff Detailed Review for up to date APR information
  • Terms:  2 to 5 years
  • Fees:  No fees for origination, prepayment, or loan disbursement
  • Added Benifits of Payoff
    • Payoff is a team of financial services professionals, research and clinical psychologists, data scientists, neuroscientists, Member Advocates and technology experts working together to better understand and accelerate people’s journey toward financial wellness.
    • Soft Pull only to start
    • Specialize in consolidating credit card debt

LendingPoint was established in 2014 offering personal loans throughout America. The company is based in Kennesaw Georgia and has an A+ rating with the BBB. The company specializes in fair credit loans starting at 590+. LendingPoint combines data and technology to create a proprietary risk model that adds new, multi-variate dimensions of credit analytics that are beyond the traditional FICO scoring process. This model allows the company to get a complete financial story of the consumer in order to approve more people who otherwise could have been overlooked by traditional credit models based on FICO.

LendingPoint Detailed Review

Apply Now with LendingPoint

Quick Snapshot

  • Loan Amounts:  $2000 to $25,000 
  • Credit Score:  590+ 
  • APR:   See LendingPoint Detailed Review for up to date APR information
  • Terms:  2 to 5 years
  • Fees:  Origination fees range from 0 to 6%
  • The company specializes in fair credit loans starting at 590+.  
  • Soft Pull only to start

Freedomplus Detailed Review

Apply Now with Freedomplus

Quick Snapshot

  • Loan Amounts:  $10,000 to $35,000 
  • Credit Score:  600+  Rates decrease with a qualified Co-signer or a retirement fund with a minimum of $40,000
  • APR:  See freedomplus Detailed Review for up to date APR information
  • Terms:  2 to 5 years
  • Fees:  Origination fees range from 0 to 5%
  • Added Benefits of Freedomplus
    • Offering co-signer loans
    • Minimum income of $30,000 to apply
    • Soft Pull only to start
    • Debt to income of 40%

Credible Detailed Review

Apply Now with Credible

Quick Snapshot

  • Loan Amounts:  $1000 to $50,000 
  • Credit Score:  640+ 
  • APR: See Credible Detailed Review for up to date APR information
  • Terms:  2 to 5 years
  • Fees:  Fees will vary by lender
  • Added Benefits of Credible
    • Apply once to Lending Club, Prosper, Avant, Upstart, FreedomPlus, Payoff, Best Egg
    • Soft Pull only to start

21 Month Interest-Free Balance Transfer 0% Credit Card

Get 0% Intro APR for 21 Months With Citi® Diamond Preferred® Card

If you are considering debt consolidation, a 21 month 0% balance transfer credit card is an excellent way to clear high-interest expense rather then taking out a personal loan and paying interest now. The Citi® Diamond Preferred® Card are available for good and excellent credit. This credit card option provides an excellent way to reduce interest expense and pay off the debt over the 21 month term. If you still have debt remaining after 21 months, apply for a debt consolidation personal loan.

18 Month Interest-Free Balance Transfer 0% Credit Card

Earn Up to 5% Cash Back With The Discover it® Balance Transfer Card

If you have fair credit and considering debt consolidation, an 18 month 0% balance transfer credit card is an excellent way to clear high-interest expense instead of taking out a personal loan and paying interest now. You will also receive 0% interest for 6 months on purchases.

Co-signed Personal Loans

If you are struggling with getting an unsecured personal loan, we have a loan provider that specializes in co-signed loans. Freedomplus offers to co-sign in the states listed below.

FreedomPlus Personal Loan Co-signer


Struggling to qualify for a loan and need a Cosigner? Contact FreedomPlus Today

  • Credit score to qualify without cosigner: minimum of 640+
  • Rates starting as low as 5.99% APR to 29.99% APR
  • No collateral required and No prepayment penalties
  • Qualified Applicants:
  • Loan amounts between $10K - $40K
  • Origination fee range from 0% to 5%
  • Earn a minimum of $30,000/year
  • Debt to income ratio is less than 40%
  • All states except CO, CT, HI, IA, KS, ME, NH, NY, ND, OR, RI, VT, WI, WV, WY

Auto Loan Refinancing

Used auto loans are often purchased with an unsecured personal loan. Here is a lender that offers loans for purchasing a new or used car, refinancing an existing vehicle or buying out an existing vehicle lease.

New and Used Auto Purchase, Lease Buyout and Vehicle Refinance

Mortgage Refinance

If the timing is right, adding a loan amount to your existing mortgage is another option to consider other than an unsecured personal loan. If your mortgage is up for renewal and you've built up some equity, this may be a great solution.

Compare Mortgage and Refinancing Offers

When to consider a Secured Home Equity Loan or Home Equity Line of Credit

Secured Loan

Secured loans and lines of credit are protected with assets and provide the lenders the ability to increase the borrowing amount, lower interest rates, and work with a lower credit score. The main advantage of a secured loan is that you can access more capital when you use an asset to secure the loan. Secured loans require collateral and the process can be longer as the collateral must be verified by the lending institution. This step can be well worth your time when you receive lower interest rates.

A home equity loan will provide lower interest rates and we would recommend either a loan equity loan or Home Equity Line of Credit (HELOC) if you have the time to wait. For many people that have just purchased their home or if the equity is not available to secure a home equity loan, an unsecured personal loan can get the job done and it can be completed very quickly.

Renovating your home can be one of the best ways to increase the value of a property. A home equity loan, home equity line of credit, refinancing your home or applying for an unsecured personal loan is four great options.

Refinancing your home, a home equity loan and a home equity line of credit (HELOC) loan amount will be based on the equity in your home. Your home will require an appraisal to determine it's new value. Mortgage providers will take a look at your current debt to Income Ratio (DTI) and determine the amount of risk they will take with your home's equity. We have seen lenders range from 65% to 80% of your properties value.

If your home is valued at $400,000 today, some lenders will offer you a new mortgage up to of your property value 80%, while another lender will offer you 65%. The lender will look at your DTI and your credit score to determine if you can manage the new monthly payment.

Renovating a Home has been one of the Best ways to increase Property Value

As we update this article in September 2018, the research that we have been seeing on remodeling and spending trends are still as strong today as they were in 2016. In the article attached from Harvard University, they are discussing spending levels and trends with remodeling in 2016. The graph below shows strong trends going forward. This is important to us as we were caught in a downturned market for many years and have been cautious in moving forward with additional spending.

Mortgage Refinance, Home Equity Loan or Home Equity Line of Credit

The difference between your current property value and your mortgage is your equity. You are normally charged an appraisal fee and possibly a fee for setting up the HELOC or home equity loan. If you have been in your home for many years, the equity should be available for you to use for a home equity loan. If your mortgage is up for renewal, this is a great time to increase your existing mortgage instead of creating the credit line or HELOC.

You may also want to talk to your accountant or tax advisor about writing off the interest on the renovation costs. Not all Interest payments on home equity loans and HELOC's are tax deductible so make sure you do your research. Here are the links to connect to over 1,500 lenders offering home refinance, home equity and HELOC.

Compare Mortgage Refinance Offers

Home Equity Loan Offers

Home Equity Line of Credit

Personal Loan or unsecured credit line vs a Home Equity Loan, Refinance or HELOC

Home equity loans can work for you:

  • The interest on the new loan may be tax deductible
  • The interest rate on the HELOC and home equity loan are typically very reasonable with good credit
  • You can spread the cost out over a long period of time and retain more of your savings
  • You could add the new renovation cost to your existing mortgage if you start the work when your mortgage is up for renewal
  • Depending on your renovation size, your work schedule and timing with contractors, a personal loan is done in days where a home equity loan could take a few weeks to complete.

When to Consider a Personal Loan or Unsecured Credit Line:

  • The equity has not increased enough for you to use in your home's equity.
  • If you are flipping the house, you will not have equity. An unsecured personal loan or credit line becomes your only option.
  • Personal Loan Up To $100,000

    Personal Loan or Unsecured Credit Line up To $50,000.