Top 5 Best Personal Loan Companies of 2021: A Comprehensive Review

Introduction

Personal loans are becoming increasingly popular due to their easy availability and hassle-free processes. As more people turn to personal loans to meet their financial goals, it’s essential to know which companies are the best in the market. This article provides a comprehensive review of the top 5 best personal loan companies of 2021.

1. SoFi

SoFi is one of the best personal loan companies in the market, with loan amounts ranging from $5,000 to $100,000. They offer competitive interest rates, and their repayment terms range from two to seven years. SoFi also provides unemployment protection, which allows borrowers to pause their payments for up to 12 months if they lose their job.

2. Marcus by Goldman Sachs

Marcus by Goldman Sachs offers personal loans with loan amounts ranging from $3,500 to $40,000. They have a fixed interest rate and no origination fee, which makes them an attractive option for borrowers who want to avoid hidden costs. Marcus also offers financial tools and resources that can help borrowers manage their debt.

3. Discover

Discover is a trusted name in the financial industry and offers personal loans with loan amounts ranging from $2,500 to $35,000. They have a fixed interest rate and no origination fee, which makes them an affordable option for borrowers. Discover also offers a flexible repayment period of three to seven years.

4. Upstart

Upstart is a popular personal loan company that uses artificial intelligence and machine learning to underwrite loans. This approach allows them to offer loans to borrowers who may not meet traditional lending criteria. Upstart offers loan amounts ranging from $1,000 to $50,000, with a fixed interest rate and no prepayment penalty.

5. LightStream

LightStream is a personal loan company that offers competitive interest rates and flexible repayment terms. They offer loan amounts ranging from $5,000 to $100,000, with no fees or prepayment penalties. LightStream also offers a rate beat program, where they will beat a competitor’s interest rate by 0.10% if the borrower meets certain criteria.

Conclusion

In conclusion, the top 5 best personal loan companies of 2021 are SoFi, Marcus by Goldman Sachs, Discover, Upstart, and LightStream. Each of these companies has its own unique set of features and benefits that make them stand out from the rest. By reviewing the options available and choosing the best personal loan company, borrowers can meet their financial goals with ease and confidence.