The following is the details for banks offering personal loans at the lowest APR along with the details of the purpose the loans are best for:
BANK | CURRENT APR RANGE | LOAN TERM | MIN. LOAN AMOUNT | MAX. LOAN AMOUNT | BEST PERSONAL LOAN |
SoFi | 5.99% – 18.64% (with autopay) | 2 to 7 years | $5,000 | $100,000 | For overall personal loan |
LightStream | 3.49% – 16.79% (with autopay) | 2 to 12 years | $5,000 | $100,000 | For generous repayment terms |
Avant | 9.95% – 35.99% | 2 to 5 years | $2,000 | $35,000 | For people with bad credit |
Marcus by Goldman Sachs | 6.99% – 28.99% | 3 to 6 years | $3,500 | $40,000 | For debt consolidation |
Best Egg | 5.99% – 29.99% | 3 to 5 years | $2,000 | $35,000 | For home repairs |
Upgrade | 7.99% – 35.97% | 3 or 5 years | $1,000 | $35,000 | For fast funding |
Payoff | 5.99% – 24.99% | 2 to 5 years | $5,000 | $35,000 | For paying credit card debt |
Upstart | 6.18% – 35.99% | 3 and 5 years | $5,000 | $30,000 | For little credit history |
LendingClub | 10.68% – 35.89% | 3 and 5 years | $1,000 | $40,000 | For using a cosigner |
PenFed | 6.49% – 17.99% | 1 to 5 years | $600 | $20,000 | For credit union members |
TD Bank | 5.67% – 18.99% | 1 to 5 years | $2,000 | $50,000 | For secured options |
PNC Bank | Rates as low as 7.49% | Not specified | $1,000 | $35,000 | For in-person visits |