Over 24 million Americans turn to personal loans every year to help them get past financial questions they need answered.
How am I going to fix my roof? How can I get my car back on the road? How am I going to get presents under the tree?
If you’re asking yourself similar questions, you may be considering taking on a personal loan as well. The only issue is, which one should you choose?
There are thousands of personal loan options out there, all coming from different lenders and all offering very different terms and conditions.
To make sure you’re getting the best deal in 2019, below, our team has put together a list of the best personal loans you can apply for in the new year.
PNC is a boutique bank that’s quickly becoming a nationally known name. The bank put itself on the map recently by offering outstanding interest rates on its savings accounts (above 2.3%) and has further solidified its reputation as a premier banking institution with its awesome personal loans.
PNC Bank offers loan products for a wide variety of credit types ranging from $1000.00 to $100,000.00. Its interest rate will vary based on your credit and loan amount but is typically between 3.9% and 25.4%.
If you’re looking for the downright lowest interest rates in your best personal loans, look no further than LightStream. LightStream is a division of SunTrust Bank and quotes some of the best interest rates we’ve seen for loan products in the last half decade!
Furthermore, LightStream is really good at getting loan requests funded fast.
You’ll need good credit or better to qualify for a LightStream product.
3. OneMain Financial
OneMain Financial is a solid best personal loans option for people who have less than stellar credit“.
If your credit score is floating lower than 620, One Main offers a relatively competitive interest rate of 16.05% and up and also hooks its borrowers up with a number of brick-and-mortar branches they can go to for more personable customer service.
Learn more about personal loans for bad credit.
SoFi has blown up in the last couple of years mostly thanks to the large advertising spend the company has put into television commercials.
This online-only lender is a brand you can trust that offers good interest rates to people with good credit. For applicants who have scores above 680, you can expect interest rates as low as 6.99%.
SoFi will lend you between $5000.00 and $100,000.00 so if you’re looking for a smaller loan amount, you’ll need to check out another lender.
Avant might be a good solution for people looking for the best personal loans who are in that grey area between having good credit and bad credit.
With the average Avant borrower having between a 600 and a 700 credit score, people with fair credit could get approved for one of its products which come with interest rates as low as 9.95%.
Avant tends to like to work with borrowers who have a decent income and states that its average approved applicant makes over $50,000 per year.
Earnest is a personal loans lender that’s true to its name. It has no fees, awesome rates, and is extremely straightforward in the products it offers to consumers.
You will need to have good credit to qualify for an Earnest-backed loan (660 or higher).
If you’re good on the credit front though, this fee-free lender offers rates as low as 5.25% and is a great best personal loans option for 2019!
If you’ve never heard of Marcus, you’ve probably heard of its parent company, Goldman Sachs.
Marcus offers good rates (6.99% – 24.99%) and offers flexible loan terms to borrowers of anywhere from 2 years to 6 years. This loan product is a favorite among debt consolidators in that it allows you to consolidate any type of debt you may have.
Marcus has been known to be picky with the kind of borrower it does business with. Because of that, be sure to have a credit score of 670 or higher and at least 3-4 years of credit history before filling out your application.
8. Lending Club
Lending Club is a well-known and reputable peer-to-peer online lender. It offers solid rates (as low as 6.16%) and will consider your application if you have a credit score above 600.
Where Lending Club gets a little shady is with its fees. This loan provider charges origination fees, late payment penalties, check processing fees, and more.
It can also take as long as 6 days to get your money from Lending Club.
9. Wells Fargo
If you’re looking for a big name bank to get your best personal loans from, you’d be hard pressed to find a bigger name than Wells Fargo.
This fixture of American business has over 6,000 branches across the country which means you should have no problem enjoying face-to-face attention if that’s your thing.
If you have good credit, you can get an interest rate as low as 7.24% and enjoy a loan term that’s as long as 5 years.
Last but not least on our 2019 best personal loans list is Prosper.
Prosper is an online personal loan product that specializes in debt consolidation. As a matter of fact, over 70% of Prosper borrowers are consolidators.
Interest rates are decent through this lender at 6.95% and up and you’ll be able to get your money in about three to five business days.
Prosper is a peer to peer lender.
Wrapping Up Best Personal Loans and Rates for 2019 You Need to Know About
From Wells Fargo to PNC, there is no shortage of best personal loans options you can pick from in 2019 no matter what your credit is!
As with all things, be sure to do your diligence before filling out your application with our suggested lenders or any other ones you may be considering.
For more outstanding financial guidance, check out additional content on SaveYourDollars.com.