What Are the Best Online Personal Loan Lenders for 2019

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Title: What Are the Best Online Personal Loan Lenders for 2019?


In today’s digital age, securing a personal loan has become easier than ever. With numerous online lenders offering competitive interest rates and flexible repayment terms, borrowers have the opportunity to find the best deals without leaving the comfort of their homes. However, with so many options available, it can be overwhelming to determine which online personal loan lender is the most reliable and suitable for your financial needs. This article aims to guide you through the top online personal loan lenders for 2019, providing key information on their features, benefits, and eligibility criteria.

1. SoFi:

SoFi is a well-established online lender known for its low interest rates and excellent customer service. They offer personal loans ranging from $5,000 to $100,000 with fixed interest rates starting from 5.99%. SoFi provides borrowers with the flexibility to choose loan terms from two to seven years. Additionally, SoFi has no origination fees, no prepayment penalties, and offers unemployment protection, making it an attractive option for borrowers seeking transparency and peace of mind.

2. Marcus by Goldman Sachs:

Marcus by Goldman Sachs offers personal loans with no fees and competitive interest rates, making it a popular choice among borrowers. Loan amounts range from $3,500 to $40,000, with fixed interest rates starting at 6.99%. The length of loan terms is flexible, ranging from three to six years. Marcus also provides borrowers with the option to defer one payment after making 12 consecutive on-time payments, offering some financial flexibility.

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3. LightStream:

LightStream is a division of SunTrust Bank that specializes in online lending. They offer personal loans ranging from $5,000 to $100,000, with fixed interest rates starting from 3.99% (with autopay). LightStream boasts a quick and easy application process, with funds available as soon as the same day. Additionally, LightStream offers a unique Rate Beat Program, where they will beat any qualifying rate from another lender by 0.10%, ensuring you get the best deal possible.

4. LendingClub:

LendingClub is a peer-to-peer lending platform that connects borrowers with investors. They offer personal loans ranging from $1,000 to $40,000, with interest rates starting at 6.95%. LendingClub’s application process is simple, and funds are generally available within a few days. They also offer joint loan applications, allowing borrowers to apply with a cosigner for better chances of approval or to secure a lower interest rate.

5. Upgrade:

Upgrade is an online lending platform that provides personal loans ranging from $1,000 to $50,000. They offer competitive interest rates starting at 6.99% and have flexible loan terms of three or five years. Upgrade also offers a unique feature called Credit Health, which provides borrowers with free access to credit monitoring tools and personalized recommendations to improve their credit scores.


Q1: Are online personal loans safe?

Yes, reputable online lenders employ advanced security measures to protect your personal and financial information. However, it is important to research and choose a trustworthy lender with positive customer reviews.

Q2: What factors should I consider when selecting an online personal loan lender?

Key factors to consider include interest rates, loan terms, fees, customer service, and any additional benefits offered by the lender.

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Q3: Can I get a personal loan with bad credit?

While some lenders may be more lenient than traditional banks, having a good credit score increases your chances of getting approved for a personal loan and securing favorable terms. However, there are lenders who specialize in offering loans to individuals with less-than-perfect credit.

Q4: How long does the loan approval process take?

The approval process varies among lenders, but many online lenders aim to provide a decision within one to two business days. Once approved, funds can be deposited into your account within a few days, and in some cases, as quickly as the same day.

Q5: Can I pay off my personal loan early?

Most online lenders allow borrowers to pay off their loans early without any prepayment penalties. However, it is important to review the terms and conditions of your loan agreement to ensure this option is available.


When it comes to choosing the best online personal loan lender for 2019, SoFi, Marcus by Goldman Sachs, LightStream, LendingClub, and Upgrade stand out as some of the top options. Each lender offers competitive interest rates, flexible loan terms, and additional benefits that cater to various borrower needs. However, it is crucial to carefully review the terms and conditions, as well as compare the offerings of different lenders to make an informed decision that aligns with your financial goals and capabilities.