7 Best Personal Loan Companies of 2024

A personal loan is a versatile financial tool that can be used for various purposes, from consolidating high-interest debt and funding home improvements to covering medical expenses or financing a wedding. It’s a flexible option for obtaining funds quickly, but borrowers should carefully assess their financial situation and budget before taking one out to ensure it’s the right choice for their needs. Use our below guide to quickly compare personal loan offers from different lenders to compare terms.

Below are the best personal loans for 2024.

Last Updated: January 1, 2024

Lexington Law


  • Best overall for 2023

  • Loan amount: $1,000-$50,000

  • Est. APR: 8.49-35.99%

  • Minimum credit score: 560

SoFi Review


  • Best for no fees

  • Loan amount: $5,000-$100,000

  • Est. APR: 8.99%-25.81%

  • Minimum credit score: None

LightStream Review


  • Best for lowest rates

  • Loan amount: $5,000-$100,000

  • Est. APR: 7.99-25.49%

  • Minimum credit score: 660

Achieve Company Review


  • Best for rate discounts

  • Loan amount: $5,000-$50,000

  • Est. APR: 7.99-35.99%

  • Minimum credit score: 620

Best Egg Review

Best Egg

  • Best for secured loan options

  • Loan amount: $2,000-$50,000

  • Est. APR: 8.99-35.99%

  • Minimum credit score: 600

LendingClub Review


  • Best for joint loan options

  • Loan amount: $1,000-$40,000

  • Est. APR: 9.57-35.99%

  • Minimum credit score: 600

Discover Personal Loans Review

Discover Personal Loans

  • Best for fastest approvals and funding

  • Loan amount: $2,500-$40,000

  • Est. APR: 7.99-24.99%

  • Minimum credit score: 660

Hello Genius Personal Loan Buyer’s Guide


Choosing a legitimate personal loan company is essential to ensure you receive the best possible service and avoid scams or unscrupulous practices. Here’s a step-by-step guide on how to select a reputable personal loan company:

1- Research Extensively:

Start by researching multiple personal loan companies. Look for well-established and reputable firms with a positive track record.

2- Check for Accreditation:

Verify if the company is accredited by respected organizations such as the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA).

3- Licensing and Compliance:

Ensure that the company is licensed to operate in your state and adheres to state and federal regulations. Compliance is a key indicator of legitimacy.

4- Transparency in Services:

Legitimate companies will provide clear information about the services they offer, including fees, terms, and any potential risks involved.

5- Personalized Assessment:

A trustworthy personal loan company will conduct a thorough assessment of your financial situation before recommending any solutions. Avoid companies that offer a one-size-fits-all approach.

6- Counseling and Education:

Look for companies that offer financial counseling and education as part of their services. This reflects a commitment to your long-term financial well-being.

7- Fee Structure:

Understand the company’s fee structure, and be cautious of any upfront fees. Legitimate personal loan companies typically charge fees based on the services provided and your success in the program.

8- Consumer Reviews:

Read online reviews and seek references from past clients to gauge the company’s reputation and effectiveness.

9- Avoid Unrealistic Promises:

Be cautious of companies making extravagant promises, such as guaranteeing to eliminate all your debt instantly. Realistic outcomes are more reliable.

10- Legal Protections:

Understand your legal rights as a consumer, including the right to cancel the contract within a specific timeframe. Make sure the company respects and informs you of these rights.

11- Compare Multiple Options:

Take your time to compare several personal loan companies to find the one that best suits your financial needs and provides a reasonable fee structure.

By following these steps and exercising due diligence, you can choose a legitimate personal loan company that will help you navigate your financial challenges effectively while avoiding scams and unscrupulous practices. Remember that a well-informed decision can lead to a brighter financial future and the relief of a more manageable debt burden.

How We Evaluate Personal Loan Companies

The staff at Hello Genius takes our reviews seriously and considers our decisions carefully. There are many personal loan companies in the market but only a handful in our opinion can be considered among the best in the business.

We reviewed many personal loan companies and rated them against several important factors including overall experience, brand reputation, customer satisfaction, loan amounts, interest rates, required credit score and more

When available we do participate in a company’s affiliate program so we can earn compensation should one of our readers sign up for their services. We do this so we can continue to provide valuable content without having to charge our readers to access this website.