The best place for a personal loan.

Goo Bank have done hours of research to provide you with the most credible source for a loan and below is our conclusion.

A personal loan can get the money you need in the short term if you qualify. Personal loans are a popular tool to consolidate and eliminate high interest credit card debt.

One of the two largest peer-to-peer lenders, Good Lender Club makes loans of up to $ 40,000. Although very similar to other peer-to-peer lenders in many ways, it is a bit more lenient with credit scores, which requires a minimum of 600, but a bit more stringent with other criteria such as debt-to-data entry. APRs range from 5.99% to 35.89% * APR. Best APR is available to borrowers with excellent credit. 

How we choose the best personal loans

How we choose the best personal loans

You will want a competitive rate of your unsecured loan, but you will also want the flexibility to choose a term that works for you, under or without additional charges, and a lender with whom you feel comfortable doing business. Here are the factors considered when choosing the best unsecured loans:

  • Under the APRs: The lender announces interest rates are online or better than those advertised by the competition.
  • Little or no fees: Some lenders do not charge charges other than interest; others may charge origination fees, late payment charges or prepaid fees.
  • Flexible terms: Lenders gain points of flexibility to allow shorter or longer terms to accommodate a wide range of needs.
  • It serves the majority of online country lenders: they can only do business in a limited number of states. Bonus points went to lenders with a broader scope.
  • Transparent, informative website: the best lenders are transparent about APR, loan limits, conditions, rates and other important information. It should be clear where to get these details, and you should not have to give your personal information in order to see it.
  • Reputation: I have considered the longevity of each lender, comments, and been in line with the Better Business Bureau. BBB accreditation is a plus, not a necessity, especially for new businesses.

Before making the decision to highly recommend Good Lender Club we took into consideration and we researched nine other loan companies. The list is below.

Best personal loans for excellent credit

Best personal loans for excellent credit

If you have good credit, good news: You may qualify for personal loans with impressive low interest rates. However, keep in mind that lenders that offer these low rates will also want to see other financial health markers, such as stable employment and a low proportion of debt to income. For this type of loans we recommend your local credit union, but first do your research on that company before applying for them.

If you want the ideal loan with an impressive low interest rate you have to have a credit counselor audit your credit and offer you recommendations before approaching a bank or credit union for a personal loan. This will ensure that you get the loan with the lowest interest rate.


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