Top 5 Low APR Personal Loans for 2021
Personal loans have become increasingly popular among individuals seeking a quick solution to their financial needs, such as consolidating debts, financing home improvements, or paying for unexpected expenses. However, with so many options available on the market, choosing the best low-APR personal loan can be a daunting task. In this article, we will explore the top five low-APR personal loans for 2021, helping you to make an informed decision.
1. LightStream Personal Loans
LightStream Personal Loans offer some of the lowest APRs in the market, ranging from 2.49% to 19.99%. The loan term can vary from 24 to 144 months, and loan amounts span from $5,000 to $100,000. Moreover, LightStream offers an “if you’re not satisfied, we’ll pay $100” guarantee, which ensures their commitment to providing excellent customer service.
2. SoFi Personal Loans
SoFi Personal Loans offer competitive APRs ranging from 5.99% to 18.28%. The loan term can range from 24 to 84 months, and loan amounts can vary from $5,000 to $100,000. SoFi loans offer a unique perk, as they don’t charge any fees, including late fees, origination fees, or prepayment penalties. Additionally, SoFi offers unemployment protection that allows individuals to pause their payments during eligible job loss.
3. Marcus by Goldman Sachs Personal Loans
Marcus by Goldman Sachs Personal Loans offer APRs ranging from 6.99% to 19.99%. The loan terms can vary from 36 to 72 months, and loan amounts range from $3,500 to $40,000. Marcus doesn’t charge any fees, including late fees or origination fees, and they also provide a discount for existing Marcus account holders.
4. Discover Personal Loans
Discover Personal Loans offer APRs ranging from 6.99% to 24.99%. The loan terms can range from 36 to 84 months, and loan amounts vary from $2,500 to $35,000. Discover doesn’t charge any application fees or prepayment penalties, and they offer a 30-day money-back guarantee.
5. Upstart Personal Loans
Upstart Personal Loans offer APRs ranging from 8.69% to 35.99%. The loan terms can vary from 36 to 60 months, and loan amounts span from $1,000 to $50,000. Upstart considers an individual’s education and job history, as well as their credit score when determining loan approval and rates.
In conclusion, these are the top five low-APR personal loans for 2021, each with unique features and benefits that cater to different financial needs. When searching for a personal loan, it’s crucial to compare APRs, loan terms, and fees to find the best option for your situation. Always read the fine print to ensure you fully understand the terms and conditions of your loan. By doing so, you can make an informed decision and secure the best possible deal for your financial needs.
