Top 5 Personal Loan Offers You Should Consider in 2021

Personal loans are a great option for those who need quick access to money without putting up collateral. With the pandemic wrecking havoc on the world’s economy and many struggling to stay afloat, personal loans can be the saving grace. However, with so many loans on offer, how do you choose the right one? This article will provide you with the top 5 personal loan offers you should consider in 2021.

1. SoFi Personal Loan

SoFi offers personal loans of up to $100,000 with interest rates ranging from 5.99% APR to 18.83% APR. The company provides flexible repayment terms of 2 to 7 years, with no fees for prepayment or origination.

Another benefit of taking a loan from SoFi is that you can improve your credit score with on-time payments. Additionally, loans from SoFi don’t require collateral. Therefore, the risk is low. With SoFi, you can access your funds in as little as three to five business days, making it an excellent option for those in urgent need.

2. Marcus by Goldman Sachs

Marcus by Goldman Sachs offers personal loans of up to $40,000, with interest rates ranging from 6.99% APR to 19.99% APR. Marcus offers a 0.25% APR discount when you sign up for autopay. Besides, there are no fees for prepayment or origination.

Another great thing about Marcus is the easy application process, which you can complete online. Moreover, Marcus provides flexible repayment terms of up to 7 years. These are just some reasons why Marcus by Goldman Sachs is a good lender to consider.

3. Discover Personal Loans

Discover Personal Loans offers loans of up to $35,000, with interest rates ranging from 6.99% APR to 24.99% APR. The company offers flexible repayment terms of up to 7 years, with no prepayment or origination fees.

Another benefit of Discover Personal Loans is the quick funding process, which can take as little as one day. Besides, the company provides several tools to help you manage your loan and monitor your credit score.

4. LightStream

LightStream offers personal loans of up to $100,000 with interest rates ranging from 2.49% APR to 19.99% APR. LightStream provides some of the lowest interest rates for personal loans, making them a great option for those who qualify.

Additionally, loans from LightStream come with fixed rates, no prepayment, or origination fees. Besides, the company provides a $100 loan experience guarantee which ensures that you have a great experience borrowing from LightStream.

5. Payoff

Payoff offers loans of up to $35,000 with interest rates ranging from 5.99% APR to 24.99% APR. Payoff specializes in consolidating credit card debt, which can be a huge burden for most people. The company also provides flexible repayment terms of up to 5 years and charges no prepayment or origination fees.

Another great feature of Payoff is that they provide financial tools and resources to help you get your finances back on track. With Payoff, you can consolidate all your credit card debts in one place, making it easier to manage your finances.

Conclusion

Choosing the right personal loan can be difficult, but researching thoroughly can make the process much more manageable. Above are five personal loan offers you should consider in 2021. Each loan has its advantages, and you should choose based on your individual needs and financial situation. Remember, always read the fine print before committing to a personal loan and make sure it suits your financial situation.