LightStream Review
LightStream has some of the best personal loans around, combining the ability to borrow large amounts for long periods of time with remarkably low interest rates, no fees and fast approval. Because of all these factors, LightStream earns a high score from WalletHub.
More specifically, you can borrow anywhere within the range of $5,000 - $100,000 with LightStream. Plus, the payoff periods can be anywhere between 24 - 144 months. You’ll be hard-pressed to find bigger personal loans or longer repayment timelines elsewhere.
In addition, LightStream keeps the costs low. Their APRs range of just 3.49% - 19.99%. Most other personal loan providers don’t offer APRs lower than 6% and often charge up to 36%, so LightStream is very cheap by comparison. Plus, they won’t charge you an origination fee or even a late fee.
LightStream is the online lending division of Truist Bank (formerly SunTrust Bank, before its merger with BB&T). LightStream offers personal loans to people anywhere in the U.S.
LightStream Review Highlights
- LightStream rates: 3.49% - 19.99%
- Loan sizes: $5,000 - $100,000
- Payoff periods: 24 - 144 months
- Co-applicants: Allowed
- LightStream credit score requirement: 660+
- Additional requirements: You’ll need to be a U.S. citizen or permanent resident with a Social Security number.
- Approval and funding: You could get approved and funded the same day you apply, and it typically won’t take more than 2 business days. That’s extremely quick for a personal loan.
- LightStream customer service rating: LightStream’s part bank Truist has an A+ from the BBB.
- “Rate Beat Program”: LightStream will offer an APR 0.1 percentage point below what you’re approved for with a competitor. Terms apply.
- Pre-qualification: LightStream does not allow potential applicants to pre-qualify. But they do provide a calculator on their website to help you estimate what rates you might qualify for.
Overall, personal loans can’t get much better than what LightStream offers – low costs, large loans and quick funding. As long as you have a credit score of at least 660, you should definitely have LightStream on the list of lenders you’re considering. Below, you can see how WalletHub rates LightStream in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
LightStream Ratings by Category
Terms: 5 / 5
Requirements & Application: 3 / 5
Reviews & Transparency: 4.1 / 5
Overall Score: 4.4 / 5
These scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.