Abasiakan DennyA personal loan provides leverage when in need of funds for emergency expenses. Emergencies are inevitable. However, getting loans to meet these needs is important. When needing urgent funds disbursement, you can take advantage of personal loans. Here are the top 5 personal loan options for you. These loans, however, come with certain criteria that must be met before securing each loan. The loans are disbursed early because of the urgency that amy be attached to it. With flexible repayments terms,you can consider applying for a personal loan to meet your urgent needs.
LightStream Personal Loans
This loan option is popular because it offers a same-day guarantee of getting the loan. This makes a viable option for medical emergencies and house repairs. LightStream personal loan does not have any extra fees. It offers loans ranging from $5,000 to $100,000 with flexible repayment options. However, this loan is limited to borrowers with good credit scores and competitive interest rates. LightStream personal loans offer interest rates between 6.99% to 25.29% APR. Borrowers who set up automatic payments can receive a 0.5% discount.
SoFi Personal Loans
SoFi is another viable option when looking for immediate loan options. Like the LightStream personal loans, SoFi offers same-day funding. In addition, SoFi offers multiple discounts making it a good alternative for urgent funding. It provides a loan amount up to $100,000 with a repayment term of 2 to 7 years. SoFi requires a minimum score of 680, making it impossible for borrowers with lower credit scores. The SoFi personal loans offer borrowers the opportunity to lower their interest rate through various discounts. Nonetheless, the interest rates are between 8.99% to 29.99% APR.
Rocket Loans
Rocket Loans is unique for its flexible repayment option and same-day funding. It offers repayment terms of 36 to 60 months. It provides funding up to $2,000 to $45,000. The due dates for the repayment can be adjusted as needed. Rocket loan amount is limited compared to other lenders. The interest rate for Rocket Loans ranges from 8.71% to 29.99% APR. Nevertheless, the interest rate is lower if you set up automatic payments.
Discover Personal Loans
Discover Personal Loans provides an easy option for people seeking financial assistance. The loan range allows you to meet large-scale and small-scale needs. Discover Loans gives repayment terms from 36 to 84 months (3 to 7 years) and high satisfaction ratings. It provides funding in the range of $2,500 to $40,000. The interest rates are between 7.99% to 24.99% APR. A higher credit score can have lower interest rates.
Upstart
Upstart gives out loans to those with a credit score as low as 300. It has flexible repayment terms, and allows borrowers to choose between two repayment terms: 36 months (3 years) and 60 months (5 years). Upstart has interest range of 6.70% to 35.99% APR. The rate depends on the borrower’s creditworthiness. Unlike the other personal loan options, Upstart charges an origination fee range of 0% to 12%. The funding after application would be ready the next business day.
