Grace Enfield, Content Writer
@grace_enfield
An example of a signature loan is a standard personal loan. A personal loan is a lump sum of money that can be used for almost anything, like consolidating debt or making a big purchase, and personal loans that don’t require applicants to put anything up as collateral are considered signature loans.
The best personal loans are from LightStream. The company offers $5,000 - $100,000 in funding with APRs of 7.99% - 25.99% and repayment periods of 24 - 84 months. You’ll need a credit score of at least 660 to qualify, according to multiple third-party sources.
Best Personal Loans in 2023
| Lender | Loan Amounts | APRs | Repayment Periods |
| $5,000 - $100,000 | 7.99% - 25.99% | 24 - 84 months | |
| $2,000 - $50,000 | 8.99% - 35.99% | Up to 60 months | |
| $2,500 - $40,000 | 6.99% - 24.99% | 36, 48, 60, 72 or 84 months | |
| $5,000 - $40,000 | 11.25% - 24.5% | 24 - 60 months | |
| $5,000 - $100,000 | 8.99% - 25.81% | 24 - 84 months | |
| $5,000 - $50,000 | 7.99% - 29.99% | 24 - 72 months | |
| $2,000 - $36,500 | 7.99% - 35.99% | 24 - 72 months |
For more information, check out WalletHub’s picks for the best signature loans. Then, you can estimate your potential rates with our free pre-qualification tool.
People also ask
What are the best personal loan interest rates?
The best personal loan interest rates vary a lot over time and depend on several factors, including the applicant’s credit score, income, monthly housing payment and existing debt obligations. The loan term and amount have an impact, too, as does the overall economic climate.
The average APR for a 24-month personal loan was 10.07% as of December 2019, according to the most recent data available from the Federal Reserve Bank of St. Louis. By...
read full answerWhat is a signature loan?
A signature loan is an unsecured personal loan that does not require any collateral other than your signature. Your signature represents your promise to repay the loan and makes the loan agreement a legally binding document.
Key Things to Know About Signature Loan
- Signature loans have borrowing amounts from $1,000 up to $100,000
- The best signature loans have APRs as low as 4.99%.
- Signature loans often have origination fees of...
Is a signature loan a good idea?
A signature loan is a good idea if the loan is inexpensive compared to your other options and affordable based on your current budget. It’s also best if the expense you’re getting the signature loan for is truly necessary, as you don’t want to take on debt without good reason.
A signature loan is a loan that doesn’t require any collateral other than your signature. You can learn more about when getting a signature loan...
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