When unexpected expenses crop up, a personal loan can be a lifesaver. It offers flexibility and is often significantly more affordable than credit cards.

Many excellent lenders exist, but the space is littered with second-tier platforms. Unfortunately, given the proliferation of competition, discerning which lender is best can be a challenge.

Google is handy, but it may be flawed and biased.

The savviest web searchers have known for years the best advice is community-driven. And the best place to source community-driven advice? Reddit.

Subreddits are teeming with real-world experience and unfiltered opinions. As a result, it’s become a go-to spot for personal loan advice and recommendations.

This article looks at the best Reddit personal loans according to users on the platform.

Crowdsourcing financial wisdom

By leveraging Reddit threads, you can tap into the curated wisdom of crowds as Reddit users rate and review each other's responses, helping promote the best advice.

Crowdsourcing financial wisdom has several benefits:

  • Diversity of perspectives: By sourcing ideas from a wide range of experiences and expertise, borrowers can benefit from a richer set of opinions and strategies.
  • Cost-effective: Compared to consulting individual financial professionals, crowdsourcing financial advice is often substantially cheaper, if not free.
  • Real-time feedback: Reddit threads allow users to comment 24 hours a day. This often results in Reddit obtaining superior advice faster than other sources.
  • Community support: Public threads offer a support system for people in similar financial circumstances. This can be particularly beneficial during challenging financial times.

Best personal loans from Reddit: Methodology

To produce the list of the best Reddit personal loans, the most popular threads were scoured to identify recommendations with the highest upvotes.

These upvotes were based on individual user experience, competitive rates, credit requirements, and other unique features.


SoFi is one of the most talked about lenders on Reddit. Its official subreddit boasts 27K members, among the top 3% on the platform.

Despite a poor user rating at the Better Business Bureau (BBB), SoFi is a well-liked platform among Reddit users. It offers multiple loan options, competitive interest rates, and relatively low credit score requirements.

SoFi also stands out for having no origination, prepayment, or late fees.

  • Best for borrowers who want the best all-around lender
  • APR range: 8.99%-25.81%
  • Term range: 2-7 years
  • Loan range: $5,000-$100,000
  • Minimum credit score: 680
  • Customer ratings: WalletHub: 2.85/5, BBB: 1.23/5
  • Unique features: No origination fees, no prepayment penalty fees, and no late fees, unemployment protection, ability to identify your qualifying interest rate in 60 seconds


LightStream is another Reddit favorite. While it similarly suffers from a poor BBB customer review, unlike SoFi, LightStream is BBB-accredited.

  • Best for borrowers looking for a BBB-accredited lender
  • APR range: 7.99%-25.49%
  • Term range: 2-7 years
  • Loan range: $4,000-$40,000
  • Minimum credit score: 660
  • Customer ratings: WalletHub: 2.9/5, BBB: 1.3/5
  • Unique features: Discounts are offered for autopay, no fees


LendingClub was highlighted for its ability to lend to individuals with poor credit when applying with a co-borrower. While you’ll pay a higher APR than other lenders, LendingClub might be the only option for those with poor credit.

LendingClub enjoys an exceptional BBB customer rating compared to other Reddit user recommendations. At the same time, however, the BBB has leveled an alert for the business, alleging potential hidden fees.

  • Best for borrowers with poor credit
  • APR range: 9.57%-35.99%
  • Term range: 2-5 years
  • Loan range: $1,000-$40,000
  • Minimum credit score: 660
  • Customer ratings: WalletHub: 3.5/5, BBB: 4.54/5
  • Unique features: Loans as low as $1,000 are available, option to apply with a co-borrower, which can help people with poor credit secure funding

Wells Fargo Personal Loans

If you need to secure financing quickly, a loan from Wells Fargo might be your best bet. While they don’t offer the most competitive rates, those with an existing relationship are eligible for a 0.25% discount on their annual APR.

  • Best for borrowers who need cash quickly
  • APR range: 8.49%-24.49%
  • Term range: 1-7 years
  • Loan range: $3,000-$100,000
  • Minimum credit score: 660
  • Customer ratings: WalletHub: 3.7/5, BBB: 1.06/5
  • Unique features: Discounts of 0.25% for those with an existing relationship with Wells Fargo, short-term loan options are available (12 months), credit decisions are made on the same day for most customers


Upstart offers customers quick financing at competitive rates. Not only that, this lender accepts borrowers with limited credit history, making it an excellent option for new or young borrowers.

  • Best for borrowers who want a competitive interest rate
  • APR range: 5.2%-35.99%
  • Term range: 3-5 years
  • Loan range: $1,000-$50,000
  • Minimum credit score: no minimum (Upstart will consider all applicants for potential eligibility)
  • Customer ratings: WalletHub: 3.7/5, BBB: 1.24/5
  • Unique features: Ability to pre-qualify with a soft credit check (i.e., a credit check that won’t harm your score), flexible eligibility requirements