Personal Loan Rates by Lender
Personal loan rates can vary widely from one lender to another, and most banks and credit unions won't give you an actual number until you check your rate or apply. This page brings together the information each of the seven lenders below publishes about its personal loan product, including the typical APR range or cap, loan amount, fees, and eligibility requirements, so you can compare the terms side by side.
This is a comparison of terms, not a ranking of the "best" lenders. Several of these lenders don't publish a specific APR range online, and we say that plainly rather than guess. When a lender does publish a number, we cite the page where it appears.
How we ranked these personal loan lenders
This page is compiled directly from each lender's own publicly disclosed personal loan terms. We listed lenders in the order they appear in live search demand: Discover, SoFi, Wells Fargo, PNC, US Bank, Navy Federal, and PenFed, not by rate.
For each lender we checked its own personal loan page for the rate basis: a published range, a stated cap, or unpublished. We also noted the loan amount range, fees, funding speed, and any membership or existing-customer requirement. Where a lender publishes an actual annual percentage rate (APR) range, we quote it directly from that lender's own page. Where a lender doesn't disclose a number, that's noted as "not publicly disclosed" rather than estimated. Actual pricing depends on your credit, income, and the term you choose. You can only confirm it by checking your rate.
#1 Discover
Best for: A no-fee loan with next-business-day funding
Discover is best known as a card issuer. It has also run an unsecured personal loan business for years, with amounts from $2,500 to $40,000 and terms up to 84 months. Discover's own page advertises no fees of any kind: no origination fee, no application fee, no prepayment penalty. That holds regardless of your credit profile.
Your actual rate depends on your credit and the term you pick. Discover's own rate and payment calculator generally spans a wide band, from around the high single digits up into the mid-20s in APR. Two applicants with different credit files can see very different quotes. A minimum household income of $25,000 applies. Discover also backs every loan with a 30-day return guarantee: return the funds within 30 days and you pay no interest at all.
Strengths
- No fees of any kind: no origination fee, application fee, or prepayment penalty
- Funds can arrive as early as the next business day after acceptance
- A 30-day return guarantee lets you cancel and pay no interest if you change your mind
- Terms run all the way to 84 months, longer than several lenders on this list
Limitations
- A minimum household income of $25,000 is required to qualify
- The top of Discover's published rate band runs into the mid-20s APR
- No branch network, so support is limited to online and phone
Pricing: Loan amounts $2,500 to $40,000, terms up to 84 months. No origination, application, or prepayment fee. APR varies by credit and term. Source: discover.com.
#2 SoFi
Best for: The highest loan ceiling, plus autopay and member rate discounts
SoFi offers unsecured personal loans from $5,000 to $100,000. That's the highest ceiling of any lender in this comparison. SoFi's own rates page states a fixed APR range of 6.99% to 35.49%. The lower end already includes a 0.25% autopay discount and a 0.25% member rate discount, both stacked on top of your base credit-based rate.
SoFi charges no late fees. Its standard no-fee term options carry no origination fee either. Some fee-based term structures do carry one, deducted from your loan proceeds rather than billed separately, so check which term you're quoted before assuming yours is fee-free. Terms run from two to seven years. SoFi operates entirely online, with no branches to visit.
Strengths
- Loan amounts run up to $100,000, well above most banks on this list
- Autopay and member rate discounts can shave up to half a point off your quoted APR
- No late fees on any SoFi personal loan
- Same-day funding is available for many approved borrowers
Limitations
- The published APR band tops out at 35.49%, higher than several bank competitors' stated caps
- Some term and fee structures carry an origination fee deducted from your proceeds
- No physical branch, so support is online and phone only
Pricing: Loan amounts $5,000 to $100,000, terms two to seven years. APR 6.99% to 35.49% fixed, with autopay and member rate discounts applied at the low end. Source: sofi.com.
#3 Wells Fargo
Best for: Existing customers with a Wells Fargo account open 12+ months
Wells Fargo limits its personal loan to existing customers only. You need a qualifying Wells Fargo consumer account that has been open for at least 12 months before you can apply. Loan amounts run from $3,000 to $100,000 with terms from 12 to 84 months, and Wells Fargo's page states no origination fee, no closing fee, and no prepayment penalty.
Because the loan is existing-customer-only, Wells Fargo doesn't publish a general rate range for the public to compare before opening an account. Your quote comes from your actual banking relationship and credit file when you check your rate. Wells Fargo does advertise a rate discount for autopay from a qualifying account, and most approved borrowers get funds the same day.
Strengths
- No origination fee, closing fee, or prepayment penalty
- Autopay from a Wells Fargo account earns a published rate discount
- Same-day funding for most approved applicants
- Loan amounts scale up to $100,000, useful for a large consolidation
Limitations
- Open only to existing customers with an account 12 or more months old
- No general rate range published for prospective customers to compare
- The $3,000 minimum loan amount is higher than several online-only lenders
Pricing: Existing customers only, account 12+ months old. Loan amounts $3,000 to $100,000, terms 12 to 84 months. No origination, closing, or prepayment fee. Rate quoted per applicant. Source: wellsfargo.com.
#4 PNC
Best for: A stated APR ceiling before you apply
PNC offers an unsecured personal loan from $5,000 to $35,000, with terms from 12 to 60 months. PNC is unusual among the bank lenders here: it states an actual ceiling on the rate. Your APR will not exceed just over 25%. Lower rates go to borrowers who qualify.
PNC charges no origination or application fee and requires no collateral. The loan isn't available everywhere, though. PNC's page notes it's offered in select states only, and asks applicants who aren't already a customer to call and confirm availability before applying.
Strengths
- Publishes an APR ceiling (just over 25%) instead of staying silent on pricing
- No origination or application fee
- No collateral required
- A familiar online-to-branch signing flow for existing PNC customers
Limitations
- The $35,000 loan cap is lower than most other lenders in this comparison
- Availability is limited by state, so you have to call to confirm eligibility
- A rate ceiling just over 25% still leaves a wide possible range depending on credit
Pricing: Loan amounts $5,000 to $35,000, terms 12 to 60 months. No origination or application fee. APR capped at just over 25%. Available in select states. Source: pnc.com.
#5 US Bank
Best for: Existing checking customers who want a small amount fast
US Bank offers a standard unsecured personal loan from $1,000 to $50,000. It also offers a separate Simple Loan built for existing account holders with an eligible checking account, who can borrow as little as $100 up to $25,000. Neither product requires collateral.
Current US Bank customers get the best of what's on offer. That includes longer repayment terms up to 84 months, funding that can arrive within hours rather than days, and access to the Simple Loan's flat fee with no annual charge. New-to-bank applicants can still apply for the standard personal loan. The fastest funding and longest terms, though, go to people who already bank there.
Strengths
- The Simple Loan lets existing checking customers borrow as little as $100
- Existing customers can access terms up to 84 months and funding within hours
- No collateral required on either the standard loan or the Simple Loan
- No annual fee on the Simple Loan
Limitations
- The longest terms and fastest funding require an existing US Bank relationship
- The Simple Loan caps at $25,000, well below the standard loan's $50,000 ceiling
- Pricing depends on the specific product and relationship rather than one quoted range
Pricing: Standard loan $1,000 to $50,000. Simple Loan (existing checking customers) $100 to $25,000, no annual fee. Existing customers can access terms up to 84 months. Source: usbank.com.
#7 PenFed Credit Union
Best for: Credit union pricing without a military connection
PenFed Credit Union started as a military-affiliated credit union, but membership is now open to anyone, with no service requirement at all. You don't need to join before you apply. If your loan is approved, PenFed opens the membership for you as part of closing, funded by a minimum $5 deposit.
PenFed's personal loan runs from $600 to $50,000, and its page states no balance transfer fee, no early payoff fee, and no origination fee. You can check your rate first using a soft credit pull that doesn't affect your score, before deciding whether to move forward with a full application.
Strengths
- Open to anyone. No military or employer affiliation required despite the credit union structure
- No origination fee, balance transfer fee, or early payoff fee
- Rate checks use a soft pull and don't affect your credit score
- Membership is created automatically at closing, so it's not a separate barrier
Limitations
- The $50,000 loan cap is on the lower end of this comparison
- No general APR range published on PenFed's own personal loan page
- Even the $600 minimum loan requires opening a PenFed membership with a $5 deposit
Pricing: Loan amounts $600 to $50,000. No origination, balance transfer, or early payoff fee. Membership open to anyone, created at closing. Source: penfed.org.
Comparison: 7 personal loan lenders at a glance
| Option | Best For | Loan Amount | Rate (if Disclosed) | Fees | Funding Speed |
|---|---|---|---|---|---|
| Discover | No-fee loan, fast funding | $2,500 to $40,000 | High single digits to mid-20s APR | None disclosed | Next business day |
| SoFi | Largest loan ceiling | $5,000 to $100,000 | 6.99% to 35.49% APR (published) | None on no-fee terms | Same day for many |
| Wells Fargo | Existing customers only | $3,000 to $100,000 | Not published, quoted per applicant | None disclosed | Same day for most |
| PNC | Stated rate ceiling | $5,000 to $35,000 | Capped just over 25% APR | None disclosed | Not stated |
| US Bank | Existing customers, small amounts | $1,000 to $50,000 (Simple Loan $100 to $25,000) | Not published, quoted per applicant | None on Simple Loan | Within hours for existing customers |
| Navy Federal | Military-affiliated members | $250 to $50,000 ($150,000 for home improvement) | Not published | None disclosed | Not stated |
| PenFed | Open membership, no military tie | $600 to $50,000 | Not published | None disclosed | Not stated |
Our verdict: which should you choose?
If you already bank with Wells Fargo, PNC, or US Bank and your account is old enough to qualify, check your rate there first. It costs nothing, and it can surface a relationship discount or faster funding you won't get as a new customer elsewhere.
If you're starting from scratch, Discover and SoFi are the two lenders here that publish a rate range or cap. You can compare a real number before you apply. SoFi's higher ceiling fits a larger consolidation. Discover's 30-day return guarantee gives you a way out if you change your mind after funding.
If you or an immediate family member has military, Department of Defense, or veteran status, check Navy Federal first. It publishes no minimum credit score or income requirement, which can matter if your credit file is thin. If that affiliation doesn't apply to you but you still want credit union pricing, PenFed's open membership gets you a similar structure without it.
How Personal Loan Rates Are Set
Your personal loan rate comes from four things a lender checks before it approves you. Those are your credit score, your income relative to your existing debt, the loan term you pick, and whether the lender uses a fixed or variable structure. A shorter term usually earns a lower rate, because the lender is exposed to your risk for less time. A longer term spreads payments thinner, but it usually costs more in total interest.
Credit score does the heaviest lifting. A borrower with a strong credit file can qualify for a rate near the bottom of a lender's published range. A borrower with limited or damaged credit history often lands near the top, if they're approved at all. The Consumer Financial Protection Bureau (CFPB) notes that a lender has to show you the total cost of the loan, including the APR, before you sign. That APR figure is the number that actually captures fees on top of the interest rate.
Discover and SoFi publish an actual range here, so you can gauge roughly where you'll land before you apply. Others generate your specific number only after you check your rate or apply. Wells Fargo, Navy Federal, and PenFed publish no range at all. PNC publishes only a ceiling rather than a full range.
Who Should Skip a Lender-by-Lender Comparison
A personal loan makes sense when you know the exact amount you need and want one fixed payment until it's paid off. It's the wrong tool if you don't yet know how much you need. Applying resets the clock every time your number changes, and it can trigger another hard credit check.
Skip this comparison if your credit score sits well below what any of these seven lenders typically approve. Rather than applying repeatedly and collecting hard inquiries that push your score down further, spend a few months building credit first. On-time payments and lower credit utilization help. Come back once your file can actually clear a personal loan's underwriting bar.
This page also isn't the right stop if you need cash today. None of these seven lenders promises same-hour funding for a first-time applicant. If your need is that urgent, compare your real timeline against the funding-speed column in the table above before applying. A rejected same-day expectation often costs you a hard credit inquiry for nothing.
Credit Union Membership Loans vs Bank Personal Loans
A credit union personal loan and a bank personal loan solve the same problem through a different structure. Navy Federal and PenFed are both credit unions. That means you technically become a member and part-owner of the institution, rather than just a customer. The National Credit Union Administration (NCUA) calls the rule that determines who can join a credit union its field of membership. That membership status determines each credit union's loan pricing here.
The tradeoff runs in both directions. Navy Federal's military-only membership and PenFed's open, anyone-can-join membership both skip the minimum credit score requirement that several banks in this comparison apply. Neither publishes an APR range, though. You can't compare a real number until you're already partway into the application. Discover and SoFi, by contrast, publish their ranges up front, so you know roughly where you'll land before you commit to a hard credit check.
If you already qualify for Navy Federal through military or family affiliation, its no-minimum-credit-score policy is worth checking first. It may approve you where a bank with a published range would decline you outright. If that affiliation doesn't apply to you but you still want credit union pricing, PenFed's open membership gets you a similar structure without it.
How to Compare Loan Offers Fairly
The interest rate alone doesn't tell you the true cost of a loan. Look at the APR instead. It folds in any origination fee or other upfront charge alongside the interest rate itself, which is why two loans with the same interest rate can still cost different amounts.
Run the same loan amount and term through each lender's own rate-check tool before you compare numbers side by side. Most of the lenders on this page, including Discover, SoFi, Wells Fargo, and PNC, let you check your rate with a soft credit pull that doesn't affect your score. There's no cost to comparing more than one before you commit to a full application.
Once you have a real rate quoted, run it through our personal loan calculator to see your actual monthly payment and total interest over the full term. If you're weighing a personal loan against paying down a credit card balance instead, our credit card payoff calculator shows the same math for that debt side by side.
What Would Change This Comparison
This comparison would look different if a major bank that currently skips personal loans re-entered the market. Chase, Bank of America, and Capital One don't currently offer a general-purpose personal loan. If any of the three launches one, it would belong on this page next to the seven lenders here.
It would also change if any of the lenders that don't publish a rate range today start disclosing one. Wells Fargo, US Bank, Navy Federal, and PenFed currently quote your rate only after you check it or apply. A published range from any of them would make this comparison more useful on the page itself, rather than sending you to check your own rate first.
Rates, fees, and loan caps on this page reflect what each lender's own site states as of this writing. Lenders change pricing and terms without much notice. Confirm the current number on the lender's own page linked above before you apply.
Frequently asked questions
Which lender has the lowest personal loan rate?
No single lender consistently has the lowest rate for every borrower. SoFi and Discover publish the widest rate ranges here, and where you land in that range depends on your credit score, income, and the term you choose. Checking your rate at two or three lenders on the same day, using the same loan amount and term, is the only way to find your actual lowest offer.
Do all these lenders charge an origination fee?
No. Discover, SoFi's no-fee term options, Wells Fargo, PNC, Navy Federal, and PenFed all state no origination fee on their own pages. Some of SoFi's fee-based term structures do carry one, deducted from your loan proceeds, so check which term you're quoted before assuming your loan is fee-free.
Can I get a personal loan without joining a credit union?
Yes. Five of the seven lenders on this page, Discover, SoFi, Wells Fargo, PNC, and US Bank, are banks, not credit unions, so no membership is required. Only Navy Federal and PenFed require you to join, and PenFed's membership is open to anyone and created automatically if your loan is approved.
What credit score do I need for a personal loan?
It depends on the lender. Each of these seven applies its own minimum, and most don't publish the exact number. Navy Federal is the outlier: it states no minimum credit score requirement at all for its personal loan. For the rest, the only way to know where you stand is to check your rate, which typically uses a soft credit pull that doesn't affect your score.
How fast can I get the money?
Funding speed varies by lender and by whether you're already a customer. Discover funds as early as the next business day after acceptance. SoFi and Wells Fargo both offer same-day funding for many approved borrowers. Existing US Bank customers can sometimes get funds within hours. None of the seven lenders on this page promises same-hour funding for a first-time applicant.
Is a personal loan or a credit card better for debt consolidation?
A personal loan gives you one fixed payment and a fixed payoff date, which makes budgeting simpler than a revolving credit card balance. A 0% intro-APR balance transfer card can beat a personal loan's rate for the length of the intro period. That only works if you pay off the full balance before the period ends, since the rate jumps back up after. Run both scenarios through our credit card payoff calculator and personal loan calculator before deciding. The better option depends on your specific balance, rate, and how fast you can realistically pay it down.
Free calculators to help you decide
Sources
We prioritize primary sources for rules, formulas, rates, limits, and definitions. See our calculator methodology and editorial policy.