Best Personal Loans For Excellent Credit Of 2025

Best Personal Loan for Excellent Credit

BEST OVERALL PERSONAL LOAN FOR EXCELLENT CREDIT

SoFi®

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

Does not disclose

APR range

8.99% to 29.99%

with autopay

Loan amounts

$5,000 to $100,000

Compare Rates

Via Credible.com’s Website

Does not disclose

8.99% to 29.99%

with autopay

$5,000 to $100,000

Editor’s Take

SoFi is an online lending platform that offers unsecured fixed-rate personal loans in every state. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.

Loans are available from $5,000 to $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum does not disclose) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.

Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum.

However, if you’re considering a debt consolidating loan from SoFi, keep in mind that the lender does not offer direct payment to a borrower’s other creditors. This means the loan proceeds will be deposited to your bank account and you’ll have to pay off your other lenders individually. The platform does offer customers a number of other perks and discounts.

Consumer Sentiment Index

4.2

4.2/10

Consumer Score

The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

Consumer Sentiment Index

3,184

How do we calculate

We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5

Insights Analyzed

• #

  Interest Rates and Fees

  ForInterest Rates and Fees

  • 57% of people had positive sentiments
  • 14% of people had neutral sentiments
  • 29% of people had negative sentiments
  57%

  14%

  29%
  ForInterest Rates and Fees

  • 57% of people had positive sentiments
  • 14% of people had neutral sentiments
  • 29% of people had negative sentiments
• #

  Customer Service

  For Customer Service

  • 26% of people had positive sentiments
  • 11% of people had neutral sentiments
  • 63% of people had negative sentiments
  26%

  11%

  63%
  For Customer Service

  • 26% of people had positive sentiments
  • 11% of people had neutral sentiments
  • 63% of people had negative sentiments
• #

  Loan Terms and Flexibility

  For Loan Terms and Flexibility

  • 56% of people had positive sentiments
  • 23% of people had neutral sentiments
  • 21% of people had negative sentiments
  56%

  23%

  21%
  For Loan Terms and Flexibility

  • 56% of people had positive sentiments
  • 23% of people had neutral sentiments
  • 21% of people had negative sentiments
• #

  Ease of Approval and Process

  For Ease of Approval and Process

  • 64% of people had positive sentiments
  • 10% of people had neutral sentiments
  • 26% of people had negative sentiments
  64%

  10%

  26%
  For Ease of Approval and Process

  • 64% of people had positive sentiments
  • 10% of people had neutral sentiments
  • 26% of people had negative sentiments

While some borrowers appreciate SoFi’s simple application and disbursement process, others are dissatisfied with communication and customer service. Borrowers are also frustrated with misleading promotional offers and how their loan inquiries were handled.

Pros & Cons

• Prequalification without a hard inquiry
• Same-day approval possible
• Can pay off third-party creditors directly

• High credit score requirement
• Co-signers not permitted

Details

Eligibility:

• Minimum credit score required. Does not disclose
• Minimum annual income. $45,000
• Co-borrowers. Permitted
• Co-signers. Not permitted

Customer service

We evaluated SoFi’s customer service experience by calling its team directly. During our assessment, we found that its wait times were some of the longest—one minute and 41 seconds. Once we connected with customer service, its team was able to answer each of our questions effectively.

They disclosed loan amounts, available interest rates, required documents and loan approval times. They also shared information about prequalification and potential fees.

BEST FOR LOW INTEREST RATES

LightStream

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

700

APR range

6.94% to 25.29%

with autopay

Loan amounts

$5,000 to $100,000

Compare Rates

Via Credible.com’s Website

700

6.94% to 25.29%

with autopay

$5,000 to $100,000

Editor’s Take

LightStream offers loans with both a low minimum and maximum interest rate, along with a rate-beat program. LightStream’s unsecured personal loans range from $5,000 to $100,000 with loan amounts varying based on the loan purpose. In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay.

Consumer Sentiment Index

4.0

4/10

Consumer Score

The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

Consumer Sentiment Index

1,791

How do we calculate

We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5

Insights Analyzed

• #

  Interest Rates and Fees

  For Interest Rates and Fees

  • 64% of people had positive sentiments
  • 14% of people had neutral sentiments
  • 22% of people had negative sentiments
  64%

  14%

  22%
  For Interest Rates and Fees

  • 64% of people had positive sentiments
  • 14% of people had neutral sentiments
  • 22% of people had negative sentiments
• #

  Customer Service

  For Customer Service

  • 19% of people had positive sentiments
  • 1% of people had neutral sentiments
  • 80% of people had negative sentiments
  19%

  1%

  80%
  For Customer Service

  • 19% of people had positive sentiments
  • 1% of people had neutral sentiments
  • 80% of people had negative sentiments
• #

  Loan Terms and Flexibility

  For Loan Terms and Flexibility

  • 71% of people had positive sentiments
  • 18% of people had neutral sentiments
  • 11% of people had negative sentiments
  71%

  18%

  11%
  For Loan Terms and Flexibility

  • 71% of people had positive sentiments
  • 18% of people had neutral sentiments
  • 11% of people had negative sentiments
• #

  Ease of Approval and Process

  For Ease of Approval and Process

  • 77% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 15% of people had negative sentiments
  77%

  8%

  15%
  For Ease of Approval and Process

  • 77% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 15% of people had negative sentiments

LightStream borrowers appreciate the user-friendly application process, fast funding and competitive interest rates. However, there are a handful of concerns about customer service and discrepancies between advertised and actual rates.

Pros & Cons

• Long loan terms available
• Low interest rates
• Fast approval and funding

• No prequalification option
• High minimum loan amount
• Low average customer rating on Trustpilot

Details

Eligibility:

• Minimum credit score. 700
• Minimum income. Does not disclose
• Co-borrowers. Permitted

Customer service

We tried to call LightStream to test the quality of its customer service, but they don’t provide a customer service number. If you want to reach their customer service team, you must contact them via email. Its email support is available Monday through Friday, 9:30 am to 7 pm and Saturday, 12 to 4 pm ET.

BEST FOR NO INTEREST IF REPAID WITHIN 30 DAYS

Discover

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

660

APR range

7.99% to 24.99%

Loan amounts

$2,500 to $40,000

Compare Rates

Via MoneyLion’s Website

660

7.99% to 24.99%

$2,500 to $40,000

Editor’s Take

Discover is an online bank that also offers customers credit cards, retirement solutions and personal loans in all 50 states. As a lending platform, Discover stands out because of its online application and mobile banking tools, well-reviewed customer support team and quick funding.

In general, loans are available from $2,500 to $40,000 and may be issued for between three and seven years. So, while borrowers may get a larger loan from another lender, the repayment terms are fairly flexible. Discover charges a late payment fee and does not offer an autopay discount; however, it does not charge any origination fees or prepayment penalties, making it competitive with other top personal loan providers.

Pros & Cons

• No origination fees
• Low interest rates
• Direct creditor payoff with debt consolidation loans

• No interest rate discount for automatic payments
• No co-signers or co-borrowers accepted
• Good credit needed to qualify

Details

Eligibility: 

• Minimum credit score required. 660
• Minimum annual income. $25,000
• Co-borrowers. Not permitted
• Co-signers. Not permitted

Expert’s Take

It’s no surprise that Discover personal loans are popular. Discover was the original rewards credit card with a large, diverse customer base. It utilizes its app and website to make the application process easy (especially for existing customers). In some cases, the funds are available the next day. Discover doesn’t have an application fee and is flexible with repayment options. The entire process is consistent with the brand and experience Discover’s customers are familiar with.

— Herman Thompson, Jr., advisory board member

Summary: Best Personal Loan for Excellent Credit

SoFi®

4.0

Compare Rates

Via Credible.com's Website

Minimum Credit Score

Does not disclose

Apr Range

8.99% to 29.99%

Loan Amounts

$5,000 to $100,000

LightStream

4.0

Compare Rates

Via Credible.com's Website

Minimum Credit Score

700

Apr Range

6.94% to 25.29%

Loan Amounts

$5,000 to $100,000

Discover

3.5

Compare Rates

Via MoneyLion’s Website

Minimum Credit Score

660

Apr Range

7.99% to 24.99%

Loan Amounts

$2,500 to $40,000

COMPANY	FORBES ADVISOR RATING	MINIMUM CREDIT SCORE	APR RANGE	LOAN AMOUNTS	LEARN MORE
SoFi®	4.0	Does not disclose	8.99% to 29.99%	$5,000 to $100,000	Compare Rates Via Credible.com's Website
LightStream	4.0	700	6.94% to 25.29%	$5,000 to $100,000	Compare Rates Via Credible.com's Website
Discover	3.5	660	7.99% to 24.99%	$2,500 to $40,000	Compare Rates Via MoneyLion’s Website

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Tips for Comparing Personal Loans for Excellent Credit

It’s typically easier for borrowers with excellent credit to get a personal loan than for less-qualified borrowers. However, these are some tips you can follow to get the best available rates and terms:

• Check your credit report and score. Before applying for a personal loan, check your credit score and review your credit report to look for errors. Even if you have excellent credit, mistakes on your report can result in a lower score than you might otherwise have. Knowing your exact credit score can also provide insight into the rate you’re likely to qualify for.
• Understand your borrowing needs. Evaluate how much you need to borrow and how much you can afford in monthly payments. Longer repayment terms result in smaller monthly payments but also leave more time for interest to accrue.
• Consider additional features and perks. In addition to competitive terms, some lenders offer features like mobile apps, hardship relief, financial education and direct creditor payoff for debt consolidation. Determine why you are borrowing funds and choose a lender with tools and perks that meet your needs.
• Shop around and compare lenders. An excellent credit score can help you qualify for the best personal loans from multiple top lenders. For that reason, it’s best to prequalify and compare offers to get the most competitive terms available.

What Is Excellent Credit?

Excellent credit is typically defined by a FICO score of 720 or higher. This high score indicates that a person has an excellent history of making payments on time and low amounts of personal debt. Individuals with excellent credit have access to personal loans with more favorable terms and conditions, such as lower interest rates, larger loan amounts and greater flexibility in repayment schedules.

Excellent credit borrowers may also receive personal loan offers with prepayment penalty waivers, which can be highly beneficial if you need to pay off the loan early. Furthermore, personal loan lenders are generally more willing to work out special arrangements for those with excellent credit scores, providing additional opportunities to reduce overall interest costs associated with taking out a personal loan.

How To Apply for a Personal Loan With Excellent Credit

Applying for a personal loan with excellent credit is relatively straightforward. Most lenders require you to provide basic personal information such as your name, address and Social Security number, as well as employment information, bank account numbers and income details.

The process varies slightly by lender, but you can follow these general steps to apply:

1. Prequalify with multiple lenders. Prequalifying gives you an idea of what kind of loan and interest rate you may qualify for before applying for a personal loan. This process is typically based on a soft credit check, which doesn’t impact your credit score.
2. Compare loan offers. Compare the loan amount, repayment term, fees, interest rate, estimated payment and other details to find the best personal loan for you.
3. Gather the required documents. Before applying for a loan, organize the documents needed for the application process, including identification, bank statements, pay stubs and other financial records.
4. Submit a formal application. Once you choose a lender, complete the formal application process. In addition to providing additional documentation, you may need to speak with a customer service representative to finalize your application and complete the verification process.
5. Await approval. Once you submit the required documents, the lender will begin processing your application and pull your credit report to review your credit history and score. If they decide to approve your loan, they will discuss your loan details with you and provide additional paperwork to sign.

Will Applying for a Personal Loan Hurt My Excellent Credit?

Applying for a personal loan can strengthen your excellent credit as long as you responsibly manage it. Lenders examine various factors when approving a loan, including debt-to-income (DTI) ratio, income source and credit history.

Many online lenders offer a prequalification process that lets borrowers see what rates they’re likely to qualify for without a hard credit check. This means you can prequalify for multiple personal loans without negatively impacting your credit score.

Once you accept a loan offer, however, most lenders conduct a hard credit inquiry as part of the borrower verification process. Hard credit checks remain on borrower credit reports for two years and may cause a small score reduction for one year. Additionally, if you default on the loan or fail to make payments on time, it could have an adverse effect on your score. So, ensure that repayment terms are manageable before signing any documents.

Finally, we also recommend that borrowers regularly review their credit reports and utilize the resources available to them. This can help borrowers maintain an up-to-date understanding of their financial standing and future approval odds.

Pros of Personal Loans for Excellent Credit

• More competitive interest rates: Lenders generally offer excellent credit borrowers more favorable interest rates on personal loans than those with less-than-excellent credit scores.
• Lower fees: Many lenders base origination fees on various factors, including borrower credit score. More qualified borrowers can access the lowest origination fees—or no fees at all.
• Flexible repayment schedules: Lenders often provide excellent credit borrowers with longer repayment terms than those available to less creditworthy borrowers. This can result in lower monthly payments, making it easier to repay the loan.
• Ideal for debt consolidation: Borrowers with excellent credit may qualify for interest rates starting around 6%—much lower than many other types of debt, including credit cards. This makes personal loans a great option for qualified borrowers who want to consolidate other debts.

Cons of Personal Loans for Excellent Credit

• Applying may temporarily lower your credit score: Undergoing the application verification process usually requires a hard credit check that can stay on your credit report for two years. A hard inquiry can temporarily lower your credit score, though usually only for one year. Missed or late payments also can negatively impact your credit score.
• High balances can be difficult to repay: Borrowers with excellent credit generally can access larger loan amounts than those with lower scores. Higher borrowing limits often come with extended repayment periods, but monthly payments may still be high.
• May lead to a cycle of borrowing: Due to the higher loan payments, borrowers may resort to consolidating debt multiple times, resulting in a cycle of borrowing. Access to high borrowing limits can also lead to over-borrowing.

Methodology

We reviewed 29 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best lenders based on the weighting assigned to each category:

• Loan cost: 35%
• Loan details: 20%
• Eligibility and accessibility: 20%
• Customer experience: 15%
• Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.

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