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.
Treasury sold $42 billion of 10-year notes on November 10 at a 5.020% high yield with a 5.000% coupon. Bid-to-cover slipped to 2.46 and dealers took 9.8%.
Fed Governor Christopher Waller said he would support a 25 basis point hike on December 9 and that 50 basis points should be considered if October core CPI runs near 0.3 percent. Prime sits at 7.00 percent.
The Fed’s G.19 release shows revolving credit grew at a 14.5 percent annual rate in September to $1,368.5 billion, with prime steady at 7.00 percent before the December vote.
Treasury’s borrowing committee minutes show the median primary dealer projecting a $2.14 trillion funding shortfall for fiscal 2028 and 2029 at current auction sizes.
U.S. payrolls rose 165,000 in October and unemployment fell to 4.1 percent, lifting December Fed rate hike odds to roughly 77 percent before the December 9 decision.
The average rate on U.S. interest-bearing federal debt reached 3.580% on October 31, the highest since April 2009, as Treasury bills topped 4% for the first time in a year.