Usually, when we are about to apply for a loan, we have some doubts. It is easy to understand it – borrowing money is not that simple and maybe even harmful for our financial status in case we default. To feel safe and secure, we need to choose the best companies – trusted, well-known and attractive offers. There are numerous rankings on the Internet and we have made our own, based on those already published. We are proposing our top 3 list of best online loans.
- So-Fi – Choosing So-Fi as your lender may be a good idea, especially, when you want to borrow a larger sum of money (even up to 100k). What is more important, you can get 3-7 years of the repayment term. It is an online personal loan, so you don’t have to leave your house in order to fulfill some formalities. You may be surprised, but the APR starts at 5.49%.The tricky part is that So-Fi checks your credit very thoroughly: it asks not only about your employment and income but also about your education! This way the company assesses your capability of repaying the loan in the future. But that means qualifying for the loan can be somewhat difficult.
- Light Stream – Light-Stream is a great choice for people who expect very low-interest rates (as low as 2.19%!) and no hidden or additional fees. It is a very flexible option, considering the fact that you can decide, whether you are going to repay your loans in 2 or up to 7 years. You can borrow any amount of money between $5,000 to $100,000. You are likely to be qualified when you have stable employment and income. Remember, your credit history has to be at least good!In Light Stream, you won’t be able to apply for a business loan or refinancing your previous loan in that same company, so the options are limited.
- Prosper – In Prosper you can expect very easy online application – that saves your time as well as your money. The interest rates are low and start at about 5.99%. The loan can be as low as $2,000 and as high as $35.000. Prosper offers 36 and 60 months of repayment term which may be considered reasonable. The company guarantees a single monthly payment and will check your rate without affecting your credit score. Prosper may be one of the best known personal loan firms online – it has many reviews (usually positive!) and it is safe to say that it is credible.Prosper doesn’t allow their client to secure a loan, so if you want to use your asset to do it, you have to choose a different company.
These three personal loan firms are 100% trusted and safe options. You have to be really sure about your needs and capabilities. Before you apply for a loan, you should get acquainted with its terms – read everything carefully. When you borrow money, make a plan and do not hurry so that you won’t get yourself in trouble.