Top 5 Best Personal Loans to Consider in 2021
With the economic impact of COVID-19, many individuals are looking for financial support to help them with their expenses. Personal loans are a great solution for those who are looking to cover unexpected expenses, consolidate debt, or make large purchases. In this article, we have compiled a list of the top 5 best personal loans that you should consider in 2021.
1. SoFi
SoFi is a great option for those with good credit looking to borrow $5,000 to $100,000. They offer low-interest rates, with an average APR of 5.99% to 18.28%, making their loans one of the most competitive in the market. SoFi also offers unemployment protection, which means if you lose your job, they will suspend your monthly loan payments and help you find a new job.
2. Marcus by Goldman Sachs
Marcus by Goldman Sachs offers loans from $3,500 to $40,000, with an APR range of 6.99% to 19.99%. They have no fees, so you won’t have to worry about origination fees, prepayment fees or late fees. Marcus also offers flexible repayment terms. Borrowers can choose a repayment term of 3 to 6 years, depending on their preference.
3. Discover
Discover offers personal loans from $2,500 to $35,000, with an APR range of 6.99% to 24.99%. They allow borrowers to choose their monthly payment due date, which is a great option for those who need to align their payment schedule with their paychecks. Discover also offers a unique feature called the “Discover it Personal Loan”. This feature allows borrowers to earn rewards for paying on time or paying off their loan early.
4. LightStream
LightStream provides personal loans from $5,000 to $100,000, with an APR range of 2.49% to 19.99%. They offer competitive rates and are known for their customer service. LightStream also offers a “Rate Beat Program”. If you find a better rate with another lender, LightStream will offer you a rate .10% lower than the competitor.
5. Avant
Avant offers loans from $2,000 to $35,000, with an APR range of 9.95% to 35.99%. They are a good option for those who have less than perfect credit. Avant doesn’t have a minimum credit score requirement, and they work with borrowers who have a credit score as low as 580. They also offer a quick funding option, with funds being deposited in your account as soon as the next business day.
Conclusion
When it comes to personal loans, it’s important to shop around and find the best fit for your specific needs. We hope this list of the top 5 best personal loans to consider in 2021 has been helpful. Remember to consider factors like interest rates, fees, repayment terms, customer service, and rewards or benefits when making your decision.
