Personal Loans are tools that you can use to fund a short term cash need, consolidate debt, or accomplish personal goals.
ProductAPR RangeTermLoan AmountsOrigination FeesCredit Score NeededLearn More
#1 Lending Tree - Direct, Personal Loans 5.99% – 35.99% 3 – 5 Years $1,000 – $35,000 0% Average Lending Tree - Direct, Personal Loans
#2 Prosper - Impact Radius 5.99% – 36.00% Fixed 3 or 5 Years $2,000 – $35,000 1 – 5% Good Prosper - Impact Radius
#3 OppLoans Varies 9 – 18 Months $2,000 – $4,000 2% Bad OppLoans
#4SoFi - Personal Loans 5.95% – 14.24%3, 5, or 7 Years $5,000 – $10,000 0% Excellent SoFi - Personal Loans
#5Even Financial 4.99% – 35.99% 2 – 7 Years $1,000 – $100,000 0 – 6% Average Even Financial
#6 BankRate - LendingClub - Personal Loan 5.32% – 30.99% Up to 5 Years $1,000 – $40,000 1 – 6% Bad BankRate - LendingClub - Personal Loan
#7 BankRate - Upstart - Personal Loan 4.89% – 29.99% 3 – 5 Years $1,000 – $50,000 1 – 6% Average BankRate - Upstart - Personal Loan

Personal loans are a form of unsecured debt. This means that the debt doesn’t have an asset that can be repossessed or foreclosed in the event that you default. From a consumer perspective, personal loans are safer than auto loans or mortgages which require you to forfeit your car or home if you default. Of course, a personal loan isn’t free money. And many consumers will take on personal debt to inflate their lifestyle.

At CentSai, we recommend that you apply smart financial behavior when you consider a personal loan. In many cases, saving in advance can eliminate your need for one. Likewise, you may be just as happy choosing a less expensive option that doesn’t require debt. Thinking outside the box may allow you to achieve your goals without taking on debt. But if a personal loan fits into your financial plan, you can compare personal loans online using our list of best personal loan companies.


Most people use personal loans to buy depreciating assets or experiences. This means that the real cost to you isn’t just the amount of interest you pay. It’s also the fact that the car, computer, etc. that you purchase loses value over time.

On the other hand, a personal loan can be used to purchase a used car, to consolidate debt, or even to purchase assets to start a business. Think through the decision to take on debt before you go to a personal loan lender.


If you’re not sure whether a personal loan is right for you, check out these resources and articles:

Debt Consolidation Calculator

Taking Out a Car Loan

Paying Off Credit Card Debt

Dealing With Student Loans

Refinancing or Consolidating Debt