Editor's Picks — May 2026

Best Personal Loans of May 2026

Our editorial team reviews hundreds of loan offers each month. These are the top picks ranked by APR, funding speed, and accessibility across credit profiles.

See Top Picks All Lenders
6.99%
Lowest APR Available
$50,000
Max Loan Amount
Monthly
List Updated
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Methodology

How We Rank the Best Personal Loans

Our editorial team evaluates lenders on five criteria — no lender can buy their way to the top of our list.

01

APR Competitiveness

We weight APR heavily because total cost matters most. Lenders with rates below market average score higher, even if they lack other features.

02

Funding Speed

Lenders who fund within 1–2 business days score better than those taking a week. Same-day or next-day funding earns bonus points.

03

Borrower Access

We favor lenders who serve a wide range of credit scores, not just those with excellent credit. Accessibility matters for real people.

04

Fee Transparency

Lenders with no origination fees, no prepayment penalties, and clearly disclosed terms score better than those who bury costs in fine print.

05

Borrower Protections

Lenders offering hardship programs, payment flexibility, or unemployment protection earn higher scores because life circumstances change.

FAQ

Top Personal Loan Questions

Lowest rates go to borrowers with excellent credit (740+). Rates as low as 6.99% APR are available from top-tier lenders for qualified borrowers.
Borrow only what you need. Most lenders offer $1,000 to $50,000. A larger loan means higher monthly payments, so match the amount to your actual need.
Both are strong options. LightStream offers rate beat guarantees. SoFi includes unemployment protection. The best choice depends on your credit profile and whether you value rate or benefits more.
Several major lenders, including some online fintech lenders, offer zero origination fees. These lenders make their money on interest, so compare total cost, not just the fee.
Yes, many lenders allow co-signers. A co-signer with stronger credit can help you qualify or secure a lower rate, but both parties are liable for repayment.