5 Best Personal Loans to Consider in 2021 for Your Financial Needs
Are you in need of a financial boost but are unsure of your options? A personal loan can be an excellent solution to help deal with unexpected expenses or consolidate debt. Here are five of the best personal loans available in 2021:
1. SoFi
SoFi stands out in the personal loan market due to its low APR and flexible repayment options. It offers personal loans with no fees, and borrowers can make an early payment without penalties. SoFi personal loans are best suited for individuals who have an excellent credit score, making this option one of the top choices for those who qualify.
2. Marcus by Goldman Sachs
Marcus by Goldman Sachs offers personal loans with competitive rates, and borrowers can receive funds within two to three business days. What sets Marcus apart is its financial planning tools, which provide extra support when budgeting for a loan repayment. Although their APR is higher than SoFi’s, they offer a discount to borrowers for setting up automatic payments.
3. Best Egg
Best Egg offers personal loans with fast approval and competitive APR rates. One of its major perks is that borrowers can apply for pre-approval without impacting their credit score. Additionally, applicants with good credit scores are more likely to receive lower rates from Best Egg, making it an ideal option for those who want to avoid high-interest rates when paying off their loan.
4. Discover Personal Loans
Discover Personal Loans are best suited for those with good to excellent credit, offering loans with flexible terms and competitive APR rates. They provide a unique feature that allows borrowers to return the loan within 30 days if they decide it is not the right fit for them, making them a safe option to pursue for those who are not entirely sure about taking out a personal loan.
5. FreedomPlus
FreedomPlus offers personal loans with no prepayment penalties and flexible options, making it a top contender in the personal loan space. The provider conducts a soft credit check to determine APR rates, making it easier for prospective borrowers to shop around and find the best rate. The lender also offers personalized loan plans, making it easier for borrowers to find the right terms for their needs.
Conclusion
Personal loans can be an excellent way to consolidate debt or pay for unexpected expenses. When considering a personal loan, it is essential to review all options and choose the one that best fits your financial situation. The five lenders listed above all offer competitive rates, flexible terms, and no hidden fees. With careful consideration, you can find the best personal loan option for your needs.
