Many a times we are in need of money and go for the option of taking a loan. One of the worst thing that people do when they are in need in cash is that they just go for the first company that is providing them the loan and then they end up in heavy loan with high interest rates and high monthly payments make it difficult for them to make a living. You can save a lot of money when you do a little bit of search and by this simple research you can get a lower interest rate and a lower monthly payment that can help you to increase your credit score when you pay the low amount at time.
Personal loans are far better than the credit card debt because personal loans have much lower interest rates than the credit card debt and it is also easy to pay it off. That means you can get rid of personal loan much faster than a credit card debt.
So today I am writing this article to provide you a list of companies that can fund you low interest rate debts. These companies do not charge any hidden fees and are easy to use. In some cases you may have to pay application fee and origination fee but even paying this fee could be a win situation for you as you are still saving a lot of money. So let’s start from the 1st company,
SoFI is one of the pioneers and leading company to provide financial service. This company is very famous and trusted a lot by its users as it has a trust pilot rating of 4.8 out of 5. With this company, you can get low interest rate debt without paying any hidden fees. You can get a loan in between $5,000 to a 100 thousand dollars for a time period of in between 2 to 7 years. Along with all this you can even avail discount on interest rate if you choose to pay through auto pay.
SoFi also offer job loss protection and you will not have to pay in debt in the time of no job. SoFi will help you to get a new job but in all that time, only your payments will be suspended and you will have to pay the interest rates eventually. This can last between 3 months to a year. This type of benefit is not available in other cases.
You can use SoFi to get money in the form of personal loans and other than that you can also take loans to refinance your student loan and home mortgage etc. You can get any type of consultation or loan without paying any kind of fee like the origination fee and the application fee.
One of the best online financial service providers is Credible. They are very famous among their users because of the low limitations and requirements and has a trust pilot rating of 4.8 out of 5. This website has a search engine where you can search for the lowest interest rate. You can get rates form 11 different lenders and you can also get discounts when you choose the auto pay option. Along with all that you can get loans to refinance your credit card debt. You can also use this site to refinance your student loans whether it is a federal one or a private one.
On credible you can take a maximum loan of $100,000 and you can avail loans for different time periods of 2 to 7 years.
One of the best rated platform to get a personal loan is Upgrade with a high trust pilot rating of 4.8 out of 5. This is a slightly new company as compared to others in the list but you can still one of the lowest interest rates on this company. You can take a minimum loan of a thousand dollars to a maximum of 35 thousand dollars. You can take a loan for 3 years to 5 years.
The process to take a loan on Upgrade is very short and simple and you can get your funds with-in a day as you get approved. You can get a loan with low annual percentage rate with your own payment schedule. These features makes it one of the best and flexible loan providing companies.
4- Light Stream
Light Stream can provide you one of the lowest interest rate in the market. You can simply get a low rate by searching on their site and you can also get discount in these rates if you subscribe to auto pay. This company has a trust pilot rating of 3.7 out of 5 and it is one of the branch of the Sun Trust Bank. You can take a maximum loan of $100,000 and depending upon your debt amount you can choose different plans from 2 to 7 years and even 12 years if you are taking a loan for home improvement. If you got a good credit score you can get a loan with fixed annual percentage rate. If you want to take a loan with a fixed APR then there is a requirement that you should take a loan in between 10 to 25 thousand dollars for a time period of 24 to 36 months.
This can be a good site if you want a personal loan and other than that you can also use this site to refinance your debts. A benefit of this platform is that you will save an APR of 0.50% just for choosing auto pay.
One of the famous companies to get personal loan is Payoff and you can get a loan of maximum 35 thousand dollars with in a period of 2 to 5 years. This site is trusted among its users and have a trust pilot rating of 3.2 out of 5. The process of taking a loan from Payoff is very simple and easy and you can just apply within minutes. This company also specializes in refinancing credit card debt and has paid more than 100 million dollars in debt consolidation.
There is no hidden charges and fee on this site and you only have to pay origination fee. Another benefit of Payoff is that you would not get any extra fee even if you choose to pay from a paper check. Along with all these benefits, this company also offers job loss support that means that if you lose a job this company will not take debt amount in those months and will support you to get a new job. With all these benefits this could be one of the best choice if you want money under 35 thousand dollars.
6- Lending Club
Lending Club is one the famous peer-to-peer lending services company. This company also offers loan for auto refinancing. You can take a loan of amount up to 40 thousand dollars for a period of minimum 3 years to a maximum of 5 years. The process to apply is simple but it can take a week because this company performs an inquiry about your details and your credit card history. Here your credit card score plays a vital role. You can also use this site to take small business loans along with personal loans.
Lending Club does not have any extra fee but they do charge an origination fee of 5% of your debt.
Another platform to take personal loans is Earnest. This is one of the sites where you can take a loan as high as 500 thousand dollars. The company has a high reputation among its users and is rated 4.7 out of 5 on trust pilot. You can get these loans for a time period of minimum 3 years to a maximum of 5 years.
When you apply for a loan, this site does not solely looks upon your credit card history unlike the others but it makes a deep study of your job history, saving history and experiences to help you get the lowest possible rate. This site can also be used to refinance your student loan and other loans with low interest rates. You can earn discounts by choosing the auto pay option on Earnest.
You can get an estimate of interest rate for free without disturbing your credit card score and you can also get fixed interest rate for a time period of 3 to 5 years.
So these are some of the best companies from which you can get a personal loan on low interest rates. Many a times it is best to consolidate your debt with personal loan instead of asking a refinance company because your personal loans can be at least 10% to 15% less than the one you are paying. The companies listed above can provide you with one of the best options in terms of low interest rates for you with your provided option. Make sure you take an advantage from it. Do comment in the section below and let us know if you have any queries because we would love to hear from you.