An unsecured loan does not require collateral — you do not need to put up your home, car, or savings as security. Lenders approve you based on creditworthiness, income, and financial history. Personal loans, credit cards, and student loans are all common types.
Below are the top lenders for unsecured personal loans.
| Lender | APR range | Loan amounts | Collateral |
| SoFi | 7.99% – 29.99% | $5,000 – $100,000 | None |
| Marcus | 6.99% – 24.99% | $3,500 – $40,000 | None |
| Upgrade | 6.94% – 35.97% | $1,000 – $50,000 | None |
| Best Egg | 8.99% – 35.99% | $2,000 – $50,000 | None |
| LightStream | 7.49% – 25.49% | $5,000 – $100,000 | None |
| Prosper | 6.99% – 35.99% | $2,000 – $50,000 | None |
The most common type of unsecured loan. You receive a lump sum and repay it in fixed monthly installments over 24 to 84 months. Can be used for debt consolidation, home improvements, medical bills, and major purchases.
A form of revolving unsecured credit. You can borrow repeatedly up to your credit limit. However, interest rates are typically much higher than personal loan rates.
Most federal and many private student loans are unsecured. Designed for education expenses with lower rates and flexible repayment.
Similar to a credit card but typically with lower rates. You have a set limit and only pay interest on what you borrow.
Secured loans require collateral (your home, car, etc.) which the lender can seize if you default. Unsecured loans have no collateral — higher rates but no risk to your assets, faster approval, and simpler applications.
Most lenders require 580-660. Upstart accepts scores as low as 300 using AI evaluation.
The lender cannot seize your assets, but they can send your account to collections, damage your credit score, and potentially sue for the balance.
Yes, but at higher rates (20-36% APR). Upgrade accepts 580+, Upstart uses AI beyond credit scores.
SoFi offers large unsecured loans up to $100,000 with zero fees.
Marcus offers fee-free unsecured loans with competitive rates.
Upgrade accepts lower credit scores starting at 580.
LightStream offers same-day funding with no fees.
Best Egg has funded over $24 billion in unsecured loans.
A personal loan affects your credit score at three distinct stages: the application (hard inquiry, typically –5 to –10 FICO points), the new account opening
The most common personal loan fee is the origination fee, which ranges from 1% to 10% of your loan amount and gets deducted before you
A personal loan is the cheaper choice for borrowing $3,000 or more when you need longer than 60 days to repay — the average personal
You can prequalify for a personal loan in under five minutes at most online lenders — SoFi, Upstart, Prosper, Best Egg, and Upgrade all let
Most personal loan lenders approve borrowers with a debt-to-income ratio (DTI) under 50%, though the best rates and terms go to applicants below 36%. SoFi,
The prime rate forecast for 2026 is one of the most closely watched financial data points of the year — and for good reason. Every