Personal loans

Compare offers from a network of third-party lenders. Loan amounts from $50 to $5,000. APRs from 4.00% to 35.55%. Soft credit check at pre-qualification.

Check your rate
8 lenders compared Updated May 2026 46 states
Person comparing personal loan offers on a smartphone
Soft credit checkNo impact to apply
No SSN to view matchesEnter only if you apply

What is a personal loan?

A personal loan is a fixed-amount, fixed-term installment loan. You borrow a lump sum, get a fixed APR and a fixed monthly payment, and pay it back on a set schedule. Most personal loans report to credit bureaus and run a hard credit pull at the application step.

REI LoanDoc isn't a lender. We compare offers from a network of third-party lenders and match you with the ones whose published criteria fit your profile.

Pros and cons of personal loans

Whether a personal loan is the right tool depends on your situation.

+Pros

  • Fixed monthly payment — predictable budgeting
  • Fixed APR locked in at signing — no surprises
  • Lower APR than payday loans or cash-advance fees in most cases
  • No collateral required (unsecured)
  • Funds typically arrive within 1–3 business days

−Cons

  • May include an origination fee (1% – 8% of loan amount)
  • Lower credit score means a higher APR
  • Hard credit pull once you accept a lender's offer
  • Missed payments can damage your credit score

Personal loan vs. the alternatives

Not every borrowing situation calls for a personal loan.

Credit card
Cash advance app
Payday loan
HELOC
Typical APR
4% – 35.55%
18% – 29%
$1 – $14.99/mo + fees
200% – 400%
7% – 11%
Term
70 days – 36 months
Revolving
Next payday
2 weeks
Up to 30 years
Best for
Predictable installment payoff
Small recurring expenses
Very small advances ($50 – $500)
Avoid when possible
Large home-related expenses

For someone who needs $500 – $5,000 and wants a predictable payoff schedule, the marketplace path is usually the most cost-effective option outside a credit union.

Personal loan requirements

Two different bars — eligibility to borrow, and what our short form needs from you.

To be eligible

  • 18 or older (19 in some states)
  • US citizen or permanent resident
  • Valid Social Security number
  • Verifiable source of income
  • Active checking account in your name
  • Resident of an eligible state (not CT, NH, VT, WA)

The matching form requests

  • Loan amount and purpose
  • State of residence
  • Employment status and monthly income
  • Bank account type (checking vs. savings)
  • Date of birth and email address
  • Soft credit check authorization

Your SSN is not required to see matched offers through REI LoanDoc. You'll only enter your SSN if and when you choose to formally apply with a specific lender on their own website.

Lenders we compare

We review the most-searched personal loan lenders so you can evaluate them before applying.

Personal loans and credit-building products for near-prime and prime borrowers.
$1k – $50k  ·  7.99% – 35.99%
AI-based underwriting considers education and employment beyond FICO.
$1k – $50k  ·  6.4% – 35.99%
Accepts subprime credit; in-person or online application options.
$1.5k – $20k  ·  accepts subprime
Specializes in fair-credit borrowers; fast decisions and flexible terms.
$2k – $35k  ·  fair credit
Known for fast funding; secured and unsecured options available.
$2k – $50k  ·  fast funding
Alternative-data underwriting helps near-prime borrowers qualify.
$2k – $36.5k  ·  alt-data
Payday loan alternative; available to borrowers with very poor credit. High APR — compare carefully.
$500 – $4k  ·  high APR
Last-resort option for borrowers declined elsewhere. High APR — use only if no alternatives remain.
$1k – $10k  ·  high APR

See all lender reviews

Frequently asked questions

See all FAQs

Compare personal
loan offers.

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Disclaimer: REI LoanDoc is not a lender. Loan amounts, APRs, fees, terms, eligibility, and funding times are determined solely by third-party lenders. Approval is not guaranteed. See our Personal Loan Notice and Advertiser Disclosure.