Personal loans in New York: 2025's top options for affordable financing

Searching for the best personal loans in New York in 2025? Look no further.

New Yorkers have many personal loan options to fund large purchases, consolidate debt, cover emergencies, and more. But with so many lenders to choose from, it can be a headache-inducing project to pin down the one that’s best for you.

This definitive guide does the work for you and explores New York's top personal loan lenders based on factors like interest rates, fees, loan amounts, terms, eligibility, and customer satisfaction.

You'll learn:

• The best personal loans in New York from top national and local lenders
• Key loan details like rates, terms, loan amounts, and fees for each top provider
• Minimum credit score and eligibility requirements
• Expert tips for comparing loans and boosting your approval odds

Armed with this knowledge, you can confidently select the ideal New York personal loan to fit your financial needs.

Compare loan sources

New Yorkers have access to personal loans through banks, online lenders, peer-to-peer marketplaces, and credit unions. Each lending model has trade-offs between factors like pricing, credit eligibility, and customer service.

Big national banks provide familiarity and trust but often have stricter requirements, higher rates, and slower processes than alternative online lenders.

But some borrowers prefer the brick-and-mortar security of banks when borrowing large amounts.

Credit unions offer affordable rates for members only after paying small membership fees. But you gain personalized service and useful financial products beyond just personal loans.

Carefully weighing the pros and cons of different lending sources will help you make the optimal choice for your needs.

With that in mind, below are some of the top recommended personal loans in New York City based on low rates, flexible eligibility, and positive customer feedback.

Best personal loans

LendingClub—Best for comparing different loans

LendingClub is a leading peer-to-peer lender and a smart choice for New Yorkers looking for a personal loan with interest rates starting as low as 9.57%.

With loan amounts from $1,000 to $40,000 and terms from 24-60 months, they offer flexible options. Fees range from 3-8% of the loan amount based on your credit.

LendingClub personal loans shine for borrowers with good credit—you'll typically need a 640+ FICO score to be approved for a loan. Customer feedback is positive overall with a 4.7/5 on Truspilot.

Prosper—Best for lower loan balances

Prosper pioneered peer-to-peer lending, matching individual investors with borrowers. Interest rates start at 6.99%, and they offer loans from $2,000-$50,000. Terms range from 24 to 60 months.

Loans may be subject to four types of fees: origination fees, check payment fees, late fees, and insufficient funds fees. To qualify, you'll need a 640+ credit score.

High customer satisfaction makes Prosper a top choice. They hold accreditation and an A+ from the BBB.

Lightstream—Best for those with good credit

Lightstream provides personal loans exclusively through Truist Bank at low rates for borrowers with good credit—usually 680+ FICO scores.

With loan amounts from $5,000 to $100,000 and no fees, they are a flexible option. Interest rates start at just 7.99% for top applicants. The BBB has accredited Lightstream since 2021, and they carry an A+ rating.

SoFi—Best for unemployed borrowers

Known for student loan refinancing, SoFi also offers personal loans with fixed rates starting at 8.99%. Their big appeal is they are known for approving borrowers with recent job loss or gaps in employment.

SoFi personal loans range from $5,000-$100,000 with 3-7 year terms. To quality, you need a minimum credit score of 680. Though not required, SoFi membership can earn rate discounts.

Sofi is very popular and well regarded by consumers with a 4.5/5 stars out of more than 6,000 reviews on Trustpilot.

Upgrade—Best for credit card consolidation

Upgrade offers personal loans specifically tailored for credit card consolidation. Fixed rates start at 8.49%, and they allow joint applications for higher approvals.

Loan amounts span from $1,000-$50,000, with terms from 24-60 months. Upgrade requires a minimum credit score of 620. They also approve recent immigrants with limited credit history.

Although Upgrade is a newer player, they have a very positive reputation online—they carry an A+ rating and accreditation from the BBB.

Happy Money—Best for debt consolidation

Happy Money provides personal loans starting at 11.75% APR exclusively for consolidating credit card debt at lower rates. To qualify, you'll need a 640+ FICO score.

Loan amounts range from $5,000-$40,000 with fixed 2-5 year terms and no fees. Payoff stands out with fast funding and innovative features like "Payoff Pals" for accountability.

Payoff has a 4.6/5 stars on Trustpilot, but there are fewer reviews than some of the larger lenders.

Best Egg—Best for those with fair credit

Best Egg specializes in personal loans for borrowers with fair credit. Their credit access program approves applicants with a 580 FICO score or higher.

Loans amounts range from $2,000-$50,000 with 3-5 year terms and rates starting at 8.99%.

There is a one-time origination fee included in the principal loan amount, and a $15 returned payment fee if your money does not get processed (returned checks or insufficient funds in your bank).

Best Egg also has high customer ratings with an excellent rating on Trustpilot, boasting 4.6/5 stars.

Comparing the best personal loans in New York

When picking between NY personal loans, compare:

• Fixed vs. variable interest rates—fixed rates don't fluctuate over the loan term
• Fees—lenders may charge origination fees based on your loan amount and, well, lower is better
• Minimum credit score requirements—each lender sets their own threshold.
• Funding speed—from approval to getting your money, fastest is best when you need funds in a hurry
• Customer experience—read third-party reviews to learn about the lender

Tips to boost your personal loan eligibility for personal loans in New York

Follow these tips to improve your odds of qualifying for a top New York personal loan:

• Check your credit reports and fix any errors immediately; improving your credit score can unlock better loan offers
• Lower your credit card balances to below 30% of their limits which will reduce your credit utilization ratio
• Pay all current bills on time—payment history is the biggest factor in credit scores
• Gather and organize all required documents, such as pay stubs, tax returns, and financial statements so you can provide them quickly
• Apply with a creditworthy cosigner if your credit needs a boost; their income and credit will factor into approval
• If you have poor credit or limited history, take out a secured loan using savings, CDs, etc., as collateral until the loan is payed off