Do signature loans still exist?

A signature loan is hard to get approved for if you have a credit score below 580 or limited income, since lenders use your track record as a borrower and your ability to repay a loan to determine whether it’s safe to approve you for a signature loan. Some signature loans are easier to get than others, though. You can even find options that won’t check your credit when you apply.... read full answer

Some of the easiest signature loans to get are from Oportun because you do not need to have a credit score to qualify. Oportun offers loan amounts of $300 - $12,000 with APRs of 36% maximum and repayment periods of 6 - 46 months. You can see a comparison of the easiest signature loans to get below.

Easiest Signature Loans to Get

To read more about the top-ranked offers, check out WalletHub’s picks for the best personal loans for people with no credit and the best no credit check loans. Then, you can estimate your potential rates with our free pre-qualification tool.

Signature loans are legit if you get one from a reputable lender that is authorized to provide loans in your state. You may want to avoid signature loans that don’t require a credit check, however, as they often have high APRs and relatively short repayment periods. Signature loans from payday lenders and auto title lenders aren’t worth it, either. They typically have extremely expensive fees and very short repayment periods.... read full answer

The best signature loans from a reputable lender are from LightStream because the company offers loan amounts of $5,000 - $100,000, APRs of 5.99% - 24.49% and repayment periods of 24 - 84 months. LightStream also has an A+ rating from the Better Business Bureau and has been BBB-accredited since 2021.

Below is a comparison of the best signature loans on the market. Keep in mind that you will need excellent credit to receive the best rates.

Legit Signature Loans for March 2023

For more information, check out WalletHub’s complete picks for the best signature loans. Then, you can estimate your potential rates with our free pre-qualification tool.

Upstart Disclosure: Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000).

The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 24.83% and 60 monthly payments of $26.36 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $15,817 including a $594 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

Yes, banks do give signature loans, which are fixed-rate, unsecured personal loans that only require the borrower’s signature as collateral. Credit unions and online lenders also offer signature loans, but keep in mind that credit unions require you to have a membership.

Best Banks for Signature Loans

Note: Credit score requirements are according to third-party sources

The best signature loans offer the most competitive terms, including low APRs, no origination fees, large loan amounts and long payoff periods. For more information, check out WalletHub’s complete picks for the best banks to get a signature loan from. You can then pre-qualify with multiple lenders at once using our free pre-qualification tool.