Best Online Loans in March 2025

Most people who apply for Upstart loans get an immediate decision and don’t have to submit more supporting documents to verify their identity or income.

Upstart is an online lending platform that connects borrowers with partner lenders. Although some of Upstart’s partners have loose eligibility requirements, prepare for a high origination fee. Typically, the worse your credit, the higher this fee will be.

Upstart funded more than 20,000 online personal loans through the LendingTree marketplace in 2024.

Upstart has transparent eligibility requirements, including:

• Age: Be 18 or older
• Administrative: Have a U.S. address, personal banking account, email address and Social Security number
• Employment: Have a job or job offer that starts within six months, or have regular income
• Credit-related factors: Debt-to-income (DTI) ratio no higher than 50% (45% in Connecticut, Maryland, New York and Vermont), no bankruptcies within the last year, fewer than six inquiries on your credit report in the last six months and no current delinquencies
• Credit score: 300+

LightStream calls its process “virtually paperless.” Many lenders ask for pay stubs or W-2s to verify your identity, but LightStream uses your credit cards and credit report to make the approval process as seamless as possible.

If you have excellent credit, LightStream offers one of the lowest starting rates on the market. LightStream is so confident that you’ll be happy with your loan that it has a customer satisfaction guarantee. It also doesn’t charge any fees and offers Rate Beat, a rate-matching program.

Unlike many lenders, LightStream doesn’t let you prequalify for a personal loan. That means LightStream will run a hard credit pull when you check your eligibility, potentially dropping your credit score by a few points.

LightStream funded about 4,700 online personal loans through the LendingTree marketplace in 2024.

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 can handle paying their current debt obligations
• Savings, whether in a bank account, investment account or retirement account

You must also have a valid Visa or Mastercard credit card to accept your loan, but only for verification purposes. LightStream will not charge your card.

Discover makes it easy to apply for your loan online — you can even use your phone to upload supporting documents. Once you’ve accepted your loan, you can manage your payments on your phone with the Discover app.

Discover lets eligible borrowers temporarily postpone past-due payments or reduce their payments in case of financial hardship. For a permanent solution, some borrowers can even extend their repayment terms. This will result in a lower monthly payment (but more overall interest).

You can finalize your loan online and get your money as soon as the following business day. Unfortunately, Discover doesn’t let you add a co-borrower to boost your odds of getting a loan.

Discover funded more than 3,000 online personal loans through the LendingTree marketplace in 2024.

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+

Upgrade makes uploading your documents easy – no scanning required. You can use your phone to take and upload a photo of any documents that Upgrade requires.

Opening a Rewards Checking account while getting an online loan through Upgrade could net you some awesome benefits. For instance, you could qualify for a lower rate on future Upgrade products and earn up to 2.00% cash back for using your debit card. To get all of the banking benefits through this offer, you must get at least $1,000 a month in direct deposit.

If you aren’t looking to open a new checking account, Upgrade could still be a solid choice — especially if you have fair credit. Upgrade’s partners have a low credit score minimum (580), and you can add a second person to your loan to get a lower rate. The company also offers secured loans, which are typically easier to qualify for.

Upgrade funded more than 5,400 online personal loans through the LendingTree marketplace in 2024.

To qualify for a loan through Upgrade, you must meet the requirements below:

• Age: Be at least 18 years old (19 in some states)
• Citizenship: Be a U.S. citizen or permanent resident or live in the U.S. with a valid visa
• Administrative: Have a valid bank account and email address
• Credit score: 580+

First Tech Federal Credit Union conducts most of its business online. It has physical branches in a handful of states, but it serves members nationwide. If you don’t live near a branch, you can schedule a phone call with a representative for help. Otherwise, you can apply for and manage your loan entirely online and via mobile app.

Most personal loans start at $1,000. With First Tech Federal Credit Union, you can borrow as little as $500. First Tech Federal Credit Union also offers a wide range of loan repayment terms, with the shortest being six months. Paying your loan off fast (no matter the size) can help you pay less interest over time.

To join First Tech (a requirement to get a loan), you must:

• Work for a partnering employer
• Be related to a current First Tech member
• Live in Lane County, Ore.
• Become a member of the Computer History Museum or Financial Fitness Association (First Tech will pay for your first year of membership, and you don’t have to maintain membership to keep your First Tech account)

When you apply for an online loan, you usually have to upload documents like proof of identity or employment. Rocket Loans verifies your information electronically. This can help you avoid the dreaded paperwork scramble.

Rocket Loans is an online-only lender that provides funding between $2,000 and $45,000. It might not have the lowest rates if you have excellent credit. But with a rate cap at 29.99% (with autopay), Rocket could be a good choice if you have a few blemishes. It accepts scores as low as 620.

Rocket Loans funded more than 800 online personal loans through the LendingTree marketplace in 2024.

To qualify for Rocket Loans, you’ll need to meet the following requirements:

• Citizenship: Must be a U.S. citizen
• Age: 18 or older
• Income: Minimum annual income of $24,000
• Residency: Can’t live in Iowa, Nevada or West Virginia
• Credit score: 620+

You can apply for a personal loan from Achieve directly on the Achieve website. Once you’re pre-approved, you can finish the process over email. Achieve may ask you to submit documents to prove your identity, income and employment.

Achieve offers three interest rate discounts.

By adding a second person to your application, you could get a discount (assuming that person has good credit). Achieve also gives a discount on certain debt consolidation loans, as long as you let it pay your creditors directly. Finally, proving you have a healthy retirement savings could also snag you a lower rate.

Achieve funded more than 8,000 online personal loans through the LendingTree marketplace in 2024.

Other than a credit score of at least 620, Achieve will typically ask you to provide the following documents and information:

• Proof of income
• Social Security number
• Government-issued ID
• Employment status

You can use the SoFi app to apply for your loan and manage your payments. After you apply, you can use the app to check the status of your application and sign your loan agreement electronically. You can even check and download all of your loan documents directly on the SoFi site.

You can borrow up to $100,000 with SoFi. And as long as you apply before 6 p.m. EST on a business day, you’ll likely get your money that same day. Other lenders offer same-day funds but generally have a shorter cut-off time (2:30 p.m. EST, for example).

SoFi funded more than 3,000 online personal loans through the LendingTree marketplace in 2024.

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+