5 Best Banks That Offer Personal Loans with Low Interest Rates

Are you looking for a personal loan with a low-interest rate? You’re not alone. Personal loans have become popular because they offer low-interest rates and flexible repayment options.

1. Discover Bank

Discover Bank offers personal loans with competitive interest rates that are often lower than what other banks offer. What sets Discover Bank apart is that they offer low interest rates without charging any fees.

With Discover Bank, you can borrow up to $35,000, with repayment terms of 3 to 7 years. Many borrowers appreciate how straightforward the lending process is, and Discover Bank is known for its excellent customer service.

2. Wells Fargo Bank

Wells Fargo Bank is one of the largest banks in the United States, and they offer personal loans with low-interest rates and no origination fees. You can borrow up to $100,000 with a fixed interest rate, and repayment terms range from 12 to 84 months.

In addition to competitive rates, Wells Fargo Bank offers a same-day funding option for those who need money quickly. They also have a debt consolidation option that could potentially lower your interest rate.

3. SoFi

If you’re looking for a personal loan with low interest rates, SoFi may be the right choice for you. SoFi is an online lender that offers personal loans up to $100,000 with interest rates as low as 5.99%. They also offer fixed and variable interest rates with no origination fees, prepayment penalties, or late fees.

SoFi requires a strong credit score, making it a great option for those with excellent credit. They also offer unemployment protection, which allows you to pause your loan payments if you lose your job.

4. LightStream

LightStream is an online lender that offers personal loans with low-interest rates and no fees. With a loan from LightStream, you can borrow up to $100,000 with repayment terms ranging from 2 to 12 years. They also offer a rate-beat program, which means that if you find a lower interest rate from a competitor, LightStream will beat it by 0.10 percentage points.

LightStream is known for its excellent customer service and fast funding. If you have good credit, LightStream is a great option for a personal loan with low interest rates.

5. Marcus by Goldman Sachs

Marcus by Goldman Sachs offers personal loans with low-interest rates and no fees. You can borrow up to $40,000 with a fixed interest rate, and repayment terms range from 3 to 6 years. Marcus by Goldman Sachs also offers a debt consolidation option that could potentially lower your interest rate.

Marcus by Goldman Sachs requires a good credit score, making it a great option for those with good to excellent credit. They also offer a no-payment grace period when you sign up for automatic payments.

Conclusion

There are many banks that offer personal loans with low-interest rates. By choosing the right bank, you can save money on interest and choose a repayment plan that works for you. Before applying for a personal loan, compare interest rates and fees to find the right bank for you.