The best installment loans in July 2022

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Lending Club

Best for installment loans

6.34–35.89%

A representative example of loan payment terms is as follows: You receive a loan of $13,411 for 36 months with an interest rate of 12.16% and a 5.30% service fee of $711 for an APR of 15.99%. In this example, you receive $12,700 and make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan terms are 36 months or 60 months. Some amounts and maturities may not be available in certain states. The APR ranges from 7.04% to 35.89% and is determined at the time of application. The processing fee is between 3% and 6% of the loan amount. The lowest APR is available to borrowers with excellent credit ratings. Advertised prices and fees are effective as of 07/01/21 and are subject to change without notice. Loans are issued by LendingClub Bank, NA, Member FDIC (“LendingClub Bank”), a wholly owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor engagement before they can be funded or issued. Certain information we subsequently receive as part of the application process (including but not limited to information in your consumer report, your income, the loan amount you are applying for, the purpose of your loan and qualifying debt) will be considered and could affect your opportunity to get a loan from us. Loan completion is subject to acceptance of all required agreements and disclosures on Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

$1,000–$40,000

600

Update

Update

Best for installment loans

6.55–35.47%

Personal loans made through Upgrade have an annual percentage rate (APRs) of 6.55% to 35.97%. All personal loans have a processing fee of 2.9% to 8% that is deducted from the loan proceeds. The lowest interest rates require autopay and the direct payment of part of the existing debt. Loans have terms of 24 to 84 months. For example, if you received a $10,000 loan with a term of 36 months and an APR of 17.98% (including an annual interest rate of 14.32% and a one-time processing fee of 5%), you would end up with $9,500 into your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offerings may not have multiple terms available. The actual interest rate depends on creditworthiness, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees can add to the cost of your fixed rate loan. There is no fee or penalty for prepaying a loan.

$1,000–$50,000

560

upstart

upstart

Best for installment loans

5.42–35.99%

Your loan amount will be determined based on your creditworthiness, income and certain other information provided in your loan application. Not all applicants will receive the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000). financial information. Rate and loan amount are subject to change based on the information provided in your complete application. This offer can only be accepted by the person named in this offer, who is of legal age to enter into a loan agreement, is a US citizen or permanent resident and is a current resident of the US. Duplicate offers are not valid. Completion of your loan is conditional on you meeting our eligibility requirements, having your information verified by us and agreeing to the terms and conditions on the www.upstart.com website. The full range of interest rates available varies by state. The average 5-year loan offered to all lenders using the Upstart platform has an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan is $14,775, including a $582 processing fee. The APR is calculated based on the 5-year rates offered over the last 1 month. There is no down payment and no prepayment penalty. Your APR is determined based on your creditworthiness, income and certain other information provided in your loan application. Not all applicants are admitted. If you accept your loan by 5:00 p.m. EST (excluding weekends or holidays), you will receive your money the next business day. Loans used to fund education-related expenses are subject to a waiting period of 3 business days between loan acceptance and funding per federal law.

$1,000–$50,000

none

universal credit

universal credit

on the Universal Credit website

Best for installment loans

8.93–35.43%

Personal loans issued through Universal Credit have annual percentage rates (APRs) ranging from 8.93% to 35.93%. All personal loans have a processing fee of 4.25% to 8% that is deducted from the loan proceeds. The lowest interest rates require autopay and the direct payment of part of the existing debt. Loans have terms of 36 to 60 months. For example, if you received a $10,000 loan with a term of 36 months and an APR of 27.65% (including an annual interest rate of 22.99% and a one-time processing fee of 6%), you would end up with $9,400 your account and have a required monthly payment of $387.05. Over the life of the loan, your payments would total $13,933.62. The APR on your loan may be higher or lower and your loan offerings may not have multiple terms available. The actual interest rate depends on creditworthiness, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees can add to the cost of your fixed rate loan. There is no fee or penalty for prepaying a loan.

$1,000–$50,000

560

on the Universal Credit website

Luminous flux

Luminous flux

Best for installment loans

4.99–19.99%

Prices shown are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, loan length, loan amount, credit history, and payment method (AutoPay or invoice). AutoPay rebate is only available if selected prior to loan financing. Rates without AutoPay are 0.50 percentage points higher. In order to receive credit, you must complete an application on LightStream.com, which may affect your credit score. You may need to verify income, identity, and other application information provided. Payment Example: Monthly payments on a $25,000 loan at 4.98% APR with a 20-year term would result in 240 monthly payments of $164.71. Some additional terms and restrictions apply. Advertised prices and conditions are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are property of their respective owners. Loan services from Truist B thank you.

$5,000–$100,000

Loan Example: A four-year, $20,000 loan at an APR of 13.9% would cost $546 per month. You would pay a total of $6,208 in interest on this loan.

660

SeedFi Borrow & Grow Personal Loans

SeedFi Borrow & Grow Personal Loans

Best for installment loans

7.42–29.99%

$1,200–$7,000

520

Navy Federal <a class=Credit Union personal loan” class=”CSdcR0 _30WfNQ” src=”https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/loans/pl/Navy_federal_credit_union_logo.jpg” style=”object-fit:contain”/>

Navy Federal Credit Union personal loan

on NerdWallet’s secure website

Best for installment loans

7.49–18.00%

$250–$50,000

none

See my prices

on NerdWallet’s secure website

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