To help potential borrowers with their search, WalletHub’s editors picked out the best personal loans that allow co-signers or joint applications from among our partners in several categories.
Best Joint Personal Loans of 2021
Loan Provider | Best For | APR Range |
LendingClub | Fair credit | 8.05% - 35.89% |
FreedomPlus | Low minimum APR | 7.99% - 29.99% |
When looking for a personal loan that allows co-signers or offers a joint application, you’ll want to consider all the same things you would when getting a personal loan by yourself. That includes APRs, fees, loan amounts, payoff periods, and approval and funding timelines. However, you may be able to consider loans with higher credit score and income requirements than you can personally meet, particularly if you have a co-signer.
Some personal loan providers do not offer the option to add a co-signer, but rather have joint loans. With a joint loan, there are also two names on the application. However, the two applicants have equal access to the loan and are equally responsible for repaying the borrowed amount, as opposed to one person backing up the other. In this case, both applicants’ credit histories and incomes get the same weight in application decisions.
Personal loans that allow co-signers or joint applications aren’t especially hard to find, but they’re not the standard, either. Of the personal loan providers that WalletHub has reviewed, around half provide one of these two options, with joint applications being more common.
Before applying for a personal loan with a co-signer or joint applicant, it’s a good idea for both of you to check for pre-qualification. WalletHub’s free pre-qualification tool will show you the odds of approval with various lenders, along with potential APRs.
Below, you can see a more detailed comparison of personal loans that allow co-signers or joint applications from WalletHub’s partners.
- Excellent Credit
- Good Credit
- Fair Credit
- Bad Credit
- No Credit/Limited History
- Any
- 1 day
- 3 days or less
- 7 days or less
Prosper $5,000 Loan • 36 Months
- More than $16 billion in loans funded
- 9 out of 10 customers would recommend Prosper to friends or family**
- Get your money in as few as 3 business days — your monthly payment stays the same
**Based on responses from randomly selected borrowers in good standing who received a loan from 01/01/2016 to 11/20/2016. Survey conducted was of a statistically significant sample size with a 95% confidence level and a 3.94% margin of error.
APRs presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at Prosper.com. The estimated APR presented does not bind Prosper. The range of APRs available through Prosper is 6.99% to 35.99%. Only borrowers with excellent credit qualify for the lowest rate available. Your actual APR depends upon credit score, Prosper Rating, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. All personal loans made by WebBank, Member FDIC. For example, a two-year $10,000 personal loan would have an interest rate of 11.5% and a 4.00% origination fee for an annual percentage rate (APR) of 15.64% APR. You would receive $9,600 and make 24 scheduled monthly payments of $468.40. A three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A four-year $10,000 personal loan would have an interest rate of 11.50% and a 5.00% origination fee for an annual percentage rate (APR) of 14.27% APR. You would receive $9,500 and make 48 scheduled monthly payments of $260.89. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 1%-5%. Personal loan APRs through Prosper range from 6.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. **You may receive your funds one business day after your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s ability to quickly process the transaction.