Personal loans are an excellent tool if you need to eliminate some of your high-interest credit card debt. Most personal loans offer fixed-interest rates, and you do not need collateral to secure the loan. However, the terms and interest rates on personal loans vary based on your credit score. If you have a good credit score, you will pay lower interest rates and receive favorable terms. Here are a few of the best lenders for personal loans if you have good credit.

Wells Fargo

Wells Fargo advertises annual percentage rates of 6.25 percent to 19.75 percent on personal loans. The loan sizes vary from $3,000 to $100,000, and the repayment terms can range from one to five years. If you have a credit score above 720, this long-established bank is a good choice. Wells Fargo offers competitive rates and the comfort of a big name lending establishment.

Lending Club

Lending club is not a traditional bank like Wells Fargo. Instead, Lending Club is part of a hot new trend known as peer-to-peer lending. Now operating in 48 states, Lending Club offers personal loans up to $40,000 with annual percentage rates that range from 5.99 percent to 35.89 percent. If you have excellent credit, Lending Club will offer you the lowers APRs. The repayment terms offered by Lending Club range from three to five years and two-year loans are available to individuals who Lending Club deem as the most creditworthy.


SoFi is another nontraditional lender that is best known for refinancing student loans. However, the company offers both fixed and variable interest rate personal loans with APRs that range from 3.38 percent to 6.7 percent. The company caps their variable rate loans at 14.95 percent, and the company does not charge any loan origination fees. The repayment terms range from three to seven years, and the loan amounts can reach as high as $100,000 for borrowers with excellent credit.


This peer-to-peer lender offers competitive rates that range from 7 to 12 percent and is willing to work with borrowers with credit scores as low as 600. The company is very transparent about the fees it charges for personal loans, and interest rates are very reasonable for borrowers with poor credit scores. Peerform’s loan amounts range from $1,000 to $25,000, but all unsecured personal loans require three-year repayment terms. The company makes it very clear what it will need from borrowers to qualify for personal loans.

As you can see there are plenty of personal loans for people with good and bad credit if you do your homework and compare what’s available. Check out the companies we’ve reviewed or contact us for some personal assistance in finding the best option for your situation.