Introduction:
In the modern-day world, personal loans have become an essential aspect of managing money. The lending industry has seen a massive boom in recent years, and the market is flooded with various options. However, with multiple companies and offerings available, it can get challenging to determine which one is the best for you. In this article, we will take a closer look at the top 5 best companies for personal loans in 2021.
Top 5 Best Companies for Personal Loans in 2021:
1. Marcus by Goldman Sachs:
Marcus by Goldman Sachs is a reliable and reputable bank that offers competitive rates and a flexible range of loans that cater to your needs. It offers loan values ranging from $3,500 to $40,000, with APRs ranging from 6.99% to 28.99%. Marcus makes the application process straightforward, and you can receive funds in as little as five days.
2. Discover:
Discover is another bank that offers personal loans at competitive rates, with APRs ranging from 6.99% to 24.99%. One of its unique features is that it offers a reward for good grades to eligible borrowers, making it an excellent option for students. Discover also provides various repayment terms ranging from 36 to 84 months.
3. LightStream:
For borrowers with excellent credit, LightStream can be an excellent option. It offers a wide variety of personal loans with APRs as low as 2.49% and loan values ranging from $5,000 to $100,000. The application process is straightforward, and you can receive funds in as little as one business day.
4. SoFi:
SoFi is another online lender that offers a wide range of fixed and variable interest rates. Their personal loans are ideal for borrowers with good credit and offer loan values from $5,000 to $100,000. SoFi offers some unique benefits, such as the ability to pause payments in case of job loss and career coaching services.
5. Wells Fargo:
Wells Fargo is a traditional bank that offers personal loans with potential discounts for existing customers. Their personal loans are available for loan amounts up to $100,000, and APRs range from 5.74% to 24.49%. Wells Fargo provides various repayment terms ranging from 12 to 84 months.
Conclusion:
Choosing the best personal loan lender is essential when it comes to managing your finances. While there are several options out there, Marcus by Goldman Sachs, Discover, LightStream, SoFi, and Wells Fargo stand out as the top five companies for personal loans in 2021, offering competitive rates, easy application processes, and flexible repayment terms. Make sure to weigh your options and choose the one that suits your financial needs best.
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