As an American, the need for personal loans is always with us. This is the main reason why we have accumulated loans and mortgages worth more than $10 trillion. While we all hate having personal loans, we agree that we cannot live without them. We need these loans to help pay rent, buy a brand-new phone, pay bills, and even take a vacation. With a personal unsecured loan, you will not need a collateral or a co-signer. Instead, the bank of the lender will look at your credit history and consider your ability to pay and then lend you money. In this article, we will look at some of the best online personal loans platforms.

 Here’s a list of the best personal loans we found online:


Blue Trust Loans

Blue Trust Loans

Blue Trust Loans is a company that offers online loans to many Americans. The company describes itself as an alternative to payday loans. The company claims that its installment loans are easy to understand and manage, have discounted interest rates, have a faster application process, and have zero pre-payment penalties. The minimum amount of loans that the company offers is $100 while the maximum amount is $2,500. The maximum term of the loan is 9 months and the loan is usually disbursed as soon as the following day. To qualify, you need to be at least 18 years old and have a source of income that is verifiable.

Some of the benefits of using Blue Trust Loans are that it is a club blue member, has no prepayment penalties, a quick approval process, and fixed payments. Some of the drawbacks of using the company are that its interest rates could move higher, it is not available in some states, and that the first amount is usually limited. Apply for a Blue Trust Loan here.


Cashnet USA is another online lender that gives people funds up to $500. The term of the loans is usually between 8 and 30 days. To process the loan, the company charges a fee of $5 and another $10 for every $100 that is given. The company gives unsecured loans, which means that you don’t need to have a collateral or a cosigner. To apply for the loan, all you need to do is to apply online in the company’s website, receive the lending decision in minutes, and receive the money on the same or following day. The same day approval process works when you apply for it in the morning.

While the company offers fast loans, the main drawback is that the loans are very expensive. For example, if you borrow $100, you will need to pay a finance charge of $15. If you plan to pay the loan in 31 days, the APR will be a whooping 176%. If you pay within 27 days, the APR will be 202%. The company also charges an insufficient funds fee if your account has insufficient funds. It is also not available in all states. Apply for a loan at CashNet

Personalloans is an online lender that gives unsecured loans up to $35,000 and a minimum amount of $2,000. You must have a credit score of 600+ and must be self-employed or employed. Like the previous companies, to apply for the loans, all you need to do is to go to their website, enter your details, and wait for a confirmation. The company differs from the other two in that it is a peer-to-peer lender, meaning that the company does not give you the money. Instead, you borrow the funds from other people. Also, the company does not set its APR. Instead, the specific lenders set their APRs. Apply for a loan at




SoFi is one of the most popular startups in the US. The company, which was started in 2011 and is currently valued at more than $4.3 billion. The company offers a number of services such as loans, loan refinancing, home loans, and other investing services. The company offers personal loans with an annual APR that ranges from 5.99% to 17.67%. The company does this without origination fees, pre-payment fees, and late fees. Its rates are also relatively reasonable. The company lends between $5,000 and $100,000 and the loans come with unemployment protection. Apply for a loan at SoFi.

If you are looking for a personal loan, these are just the four companies that offer them. If you do your research well, you will find other companies that offer these loans. The secret is to do your research and read online reviews about these companies. Also, you should avoid using payday loans, which come with hefty rates.