Before diving into the top personal loan options for those with good credit, it’s essential to recognize that not all loans are created equal. Depending on your specific financial needs, other options may offer better terms or flexibility than a traditional personal loan. If a personal loan is the right fit for you, having good credit puts you in a favorable position to access competitive rates and flexible terms. In this article, we’ll explore several lenders that cater to individuals with good or excellent credit, outlining their offerings to help you find a loan that matches your financial situation.
Top Personal Loan Options for Those with Good Credit
Before looking into some top personal loan options for those with a good credit score, you want to make sure you understand the purpose of your loan. That’s because there may be other financing options that could better fit your needs besides a standard personal loan. Speaking to a financial advisor may be a good decision to help you figure out the right loan product for your situation. Assuming that a personal loan is right for you, now it’s time to consider lending options. There are a variety of lenders out there, but not every lender is a good fit for every borrower.
Personal Loans Available (Good/Excellent Credit of 700+)
Keep in mind a few things before going over this list:
- The best loan product for you may not be on this list! However, research is important so make sure you look deeply at available options before choosing to borrow money.
- For additional questions you can reach out to the lender directly or talk to a financial advisor.
- Besides the lenders on this list you should consider other sources of loans like your bank, a credit union, online lenders and more.
LightStream
This lending company has a lot of loan products available. One worth highlighting is their personal loan that can provide between $5,000 to $100,000. The minimum credit score requirement is 695 but it has very fair APR rates of 6.99% – 25.29%. These interest rates are only for those that handle their repayment with auto pay. You can expect repayment terms to be between 2 to 7 years, making these loans a great option for those that need some money!
Discover
Even though this lender has a higher minimum APR of 7.99% to 24.99%, the maximum is lower than other options on this list. This is a great loan for those looking to take out between $2,500 to $40,000. The loan repayment term is over the course of 3 to 7 years and has a minimum credit score requirement of 660.
First Tech
First Tech Credit Union offers a flexible personal loan option with amounts ranging from $500 to $50,000. It comes with an APR between 8.14% and 18.00%, and a minimum credit score requirement of 660. Repayment terms span from 6 months to 7 years, giving borrowers plenty of time to manage their payments. Co-sign and joint loan options are available, making it easier for individuals to qualify, and funding can be provided quickly. First Tech remains a solid choice for those seeking fast, flexible financing.
Achieve
Achieve can provide personal loans ranging from $5,000 to $50,000, with APRs between 8.99% and 35.99%. With a minimum credit score requirement of 640, repayment terms span from 2 to 5 years. Achieve provides multiple rate discounts, including for adding a co-borrower, setting up direct pay, or holding sufficient retirement assets. The loans come with an origination fee so you want to make sure you are aware of any potential additional fees you could come across!
Happy Money
The loan option from this lender is worth between $5,000 to $40,000, with APRs between 11.72% and 17.99%. With a minimum credit score requirement of 640, it’s important to note that the interest rate minimum is higher than other options on the list but the maximum is lower. Repayment terms range from 2 to 5 years, and borrowers benefit from temporary payment protection in cases of unemployment.
In Summary
This article gives a detailed overview of some top personal loan options for individuals with good or excellent credit, focusing on the unique benefits and conditions of various lenders. It stresses the importance of understanding your financial needs and consulting a financial advisor to ensure you choose the best loan for your situation. Lenders such as LightStream, Discover, First Tech Credit Union, Achieve, and Happy Money are reviewed, with insights into their loan amounts, APR ranges, and repayment terms.
Each lender offers distinct features like fast funding, rate discounts, or debt consolidation options, helping borrowers find a loan that fits their financial goals. By carefully considering these options and conducting further research, borrowers can make well-informed decisions and select the loan product that aligns with their specific needs. And remember, talk to a financial advisor or a lender directly for additional questions you may have!