Best Personal Loans With No Origination Fee in 2025

LendingTree users have given Discover personal loans a nearly perfect customer satisfaction score, with 4.9 stars out of 5. Furthermore, Discover has three repayment assistance options, which might come in handy in case of financial hardship. Its customer service department is also open seven days a week.

As long as you make on-time payments, Discover personal loans come with no fees. But if you pay late, Discover may charge you an extra $39.

You’ll need to meet these eligibility criteria to get a Discover loan:

• Age: Be at least 18
• Citizenship: Have a Social Security number
• Administrative: Have a physical address, email address and internet access
• Income: Minimum income of $40,000 (individually or as a household)
• Credit score: 720+

All Laurel Road personal loans come with low starting rates and competitive terms, but this online bank offers even better rates and terms for doctors and dentists. The rates and terms listed here are available to everyone, but eligible medical professionals may qualify for even lower rates. This can come in handy when you’re starting your practice.

You’ll need to look elsewhere for a small loan, since Laurel Bank requires that you take out at least $5,000. Like most other lenders, Laurel Bank does charge a late fee, so make sure to stay on top of your payments.

Laurel Road doesn’t provide much insight into how it evaluates personal loan applications, but you must be at least the age of majority in your state (typically 18 or 19).

While Laurel Road doesn’t specify a minimum credit score, it does state that it offers low rates because it works with creditworthy borrowers. The lender may assess this creditworthiness by evaluating your debt-to-income ratio, employment, income and credit history.

Borrowers with excellent credit could save on interest rates with LightStream’s low starting rates and its Rate Beat program. Plus, unlike most lenders, LightStream doesn’t charge a late payment fee, making their loans truly fee-free.

If you have poor credit, you’ll need to look elsewhere. LightStream doesn’t disclose its exact requirements, but it only approves borrowers with good to excellent credit. It also doesn’t allow you to check rates without taking a small, temporary hit to your credit with a hard credit pull.

LightStream doesn’t specify its exact credit score requirements, but you must have good to excellent credit to qualify. Most of the applicants that LightStream approves have the following in common:

• At least five years of on-time payments under a variety of accounts (credit cards, auto loans, etc.)
• Stable income and the ability to handle paying their current debt obligations
• Savings, whether in a bank account, investment account or retirement account

PenFed’s small loans with short repayment terms are an affordable alternative to payday loans with high APRs. It’s worth your time to check your interest rates with PenFed, since its APRs are capped at 17.99%.

PenFed charges a $29 fee if your payment is more than five days late. It also won’t pay your creditors directly, which could be inconvenient if you need a debt consolidation loan.

To qualify for a PenFed loan, you must meet the following requirements:

• Membership: PenFed membership (anyone can join)
• Administrative: Open a PenFed savings account with $5 deposit; may need to submit documents to verify your identity and income

SoFi offers a 0.25% interest rate discount for signing up for autopay and a 0.25% interest rate discount for using direct deposit with an eligible SoFi account.

While not required, you can opt to pay an origination fee to get SoFi’s lowest APRs. Keep this extra expense in mind when you’re comparing rates between lenders.

You must meet the requirements below in order to get a loan from SoFi:

• Age: Be the age of majority in your state (typically 18)
• Citizenship: Be a U.S. citizen, an eligible permanent resident or a non-permanent resident (a DACA recipient or asylum-seeker, for instance)
• Employment: Have a job or job offer with a start date within 90 days, or have regular income from another source
• Credit score: 680+