Best Personal Loans in Surprise, AZ: Top Lenders & Best Picks for You

Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Surprise, AZ

Taking out a personal loan is a wise decision if you need funds. When selecting the best personal loan in Surprise, loan amounts, interest rates and repayment terms are important considerations. MoneyGeek examined over 30 different factors when finding the best loan options. Additionally, your employment history, current income and credit score are additional factors that could influence your loan eligibility.

To make the loan experience more convenient for you, MoneyGeek has also explored the customer-friendly features provided by these lenders. Keep in mind that the best lender for you may vary based on your profile and needs.

Best Overall Personal Loan Lender in Surprise: LightStream


  • LightStream
    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    MoneyGeek named LightStream, the online consumer lending division of SunTrust Banks that was launched in 2013, as the top option for personal loans in Surprise. Unsecured personal loans are available from consumer lender LightStream for a variety of purposes.

    Depending on your loan purpose, loans between $5,000 and $100,000 are available with terms of two to seven years. LightStream advertises its personal loans with no origination, late payment or prepayment costs. Plus, it gives rate discounts to customers who set up automatic payments.

    Moreover, this lender is a nice choice for candidates with a good to excellent credit history because it requires a minimum credit score of 660.

    Pros

    • A+ BBB rating
    • Offers quick funding
    • No late, prepayment or origination fees
    • Autopay discount
    • High maximum loan amount

    Cons

    • Performs hard credit inquiry
    • Not ideal for borrowers looking for lower amounts
    • Doesn’t allow co-signers
    • Not offered to new borrowers
    • Funds cannot be used for certain purposes
    LightStream

Best Personal Loan Lender for Bad Credit in Surprise: Upstart


  • Upstart
    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    A lender called Upstart uses artificial intelligence (AI) to match borrowers and lenders. The platform increases access to loans, making it a great choice for people with bad credit. Due to its unique features, it ranked as MoneyGeek’s top personal loan in Surprise for consumers with bad credit.

    By looking beyond credit history and considering a number of non-traditional credit indicators, Upstart gives borrowers with bad credit, or those with a score of at least 300, access to personal loans. With durations of three or five years, personal loans ranging from $1,000 to $50,000 are offered. This makes Upstart an excellent choice for candidates who require immediate access to money but might not otherwise be granted a loan.

    Pros

    • A+ BBB rating
    • Fast funding
    • Low credit score requirement
    • Conducts soft credit check
    • Low minimum loan amount

    Cons

    • Low maximum loan amount
    • No co-signers
    • Late payment fees
    • No autopay discount
    • Potential origination fee
    Upstart

Best Personal Loan Lender for Good Credit in Surprise: SoFi


  • SoFi
    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    Unsecured personal loans for consumers with good credit are available through SoFi. The lender is MoneyGeek’s top pick for personal loans in Surprise designed for those with good credit. For durations ranging from 12 to 60 months, loans between $5,000 and $100,000 are offered.

    Qualified individuals can receive large loan amounts and low interest rates even though the minimum credit score required is 680. Borrowers often receive their funds after a few days of being approved for a loan, which can be used for personal, family or home needs. However, some clients might be put off by the fact that this lender does not offer personal loans for expenses associated with higher education.

    Pros

    • A+ BBB rating
    • Autopay discount
    • Performs soft credit pull
    • High maximum loan amount

    Cons

    • High minimum loan amount
    • No co-signers
    • Has gross income requirement
    • Good-to-excellent credit score requirement
    • Won’t accept people with new or no credit
    SoFi

Best Personal Loan Lender for Debt Consolidation in Surprise: Upgrade


  • Upgrade
    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    Upgrade is the ideal option for borrowers who require access to smaller loans. Loans from Upgrade are funded as soon as the following business day. MoneyGeek named Upgrade as the best personal loan in Surprise for debt consolidation.

    The personal loan from Upgrade can be used for anything, including debt consolidation, house renovations and other major expenditures. However, take note that the lender charges origination fees, and borrowers can be subject to high annual percentage rates. While Upgrade may aid in the approval of applicants with acceptable credit, those with higher scores are more likely to avoid the company's highest APRs.

    Pros

    • A+ BBB rating
    • Low minimum loan amount
    • Autopay discount
    • No prepayment penalty charges
    • Runs soft credit inquiry

    Cons

    • Potentially high APR
    • Late fee
    • Restrictive usage of funds
    • Origination fees
    • Not offered to new or no credit borrowers
    Upgrade

Best Personal Loan Lender for Home Improvement in Surprise: Best Egg


  • Best Egg
    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Through Blue Ridge Bank and Cross River Bank, the online lending marketplace Best Egg provides both unsecured and secured personal loans. Borrowers can get loans of $2,000 to $50,000. Best Egg is MoneyGeek’s top home improvement personal loan in Surprise.

    Best Egg was founded in 2014 and has an A+ BBB rating. Despite this, consumers of Best Egg must pay origination fees, and the company doesn't offer many appealing extra benefits to borrowers. Before applying, applicants should take into consideration having a credit score of at least 700 and potentially high APRs.

    Pros

    • A+ BBB rating
    • Soft credit inquiry
    • Autopay discount
    • No charges for early payments

    Cons

    • Late fees
    • Charges origination fees
    • Has income requirements
    • Credit score must be 700 or above
    • New or no credit borrowers can’t qualify
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Surprise for You

The average personal loan debt in Arizona is $20,113 with an average interest rate of 8.93%. This can differ depending on the lender.

You must consider a variety of factors when applying for a personal loan, such as your credit score, salary and outstanding debts. MoneyGeek discusses a few steps below based on your needs so that you can find the best personal loan in Surprise.

1
Ask Yourself the Important Questions

You should start by determining whether or not you actually need a loan. Research those who offer the best conditions for the loan you need if your answer is yes. Additional questions you need to ask yourself are:

  • How much cash do you need? It’s important to understand how much money you need so that you choose a lender who offers the appropriate loan amount range.
  • What’s your credit score? Your credit score is important when applying for personal loans. Lenders will assess your creditworthiness before approving your application.
  • Can you cover the monthly payment? Be mindful of your financial situation. Make sure you can afford to pay your bills on time each month.
  • Do you already owe a considerable amount of cash? If you have other debt to repay in addition to the personal loan, weigh your options before applying.
2
Do Your Research

Any loan repayment requires commitment. You can better understand your options and their terms by doing some reading before applying for a personal loan. For instance, while some lenders require a high credit score, others choose a more moderate score. Additionally, the interest rates may change correspondingly.

MoneyGeek provides general information about the ideal loans for different borrower profiles. However, you might uncover better options for your situation by conducting your own research.

3
Wait

Taking out a loan will require a long-term commitment to repay it. Consequently, you must be confident that you can pay both the current and future installments. The application shouldn't be finished in a hurry. Take a day or two to consider your situation after conducting your research and identifying your ideal lender.

4
Read the Fine Print

You may end up paying higher monthly charges for your personal loan than you anticipated if you overlook the fine print. Be careful to take note of all the pertinent information in the fine print when researching loans. Examine any penalty fees as well as late fees, in addition to interest rates. Check for discounts, such as those for autopay, to ensure you pay the lowest amount possible for your loan.

5
Apply

The last step is to complete and submit your application once you've made up your mind about the lender and loan amount you want to use. Along with the standard address verification and other information, your lender might also require information on your current occupation, income documentation and debt-to-income ratio.

Most lenders accept applications online, but some also accept them over the phone or in person. If you require more information from the lender before submitting your application, the latter option could be ideal.

What to Do if You Can’t Get a Personal Loan in Surprise

Factors like your income threshold or creditworthiness may cause your personal loan application to be denied. Before seeking a different lender, find out why the first lender rejected your application. Examine the reasons why the decision was made, including any information gaps or a high debt-to-income ratio.

Check to see if revising your application will be beneficial. Doing so may help lenders approve your application and provide you with funding.

Additionally, depending on the comments you get, you can choose to try a different lender. MoneyGeek advises against doing this until you have resolved the issues with your initial application.

Avoid obtaining payday loans or other short-term loans. These can provide you with immediate funds, but you must typically pay them back in a week or two. Plus, their interest rates are high.

Frequently Asked Questions About Personal Loans in Surprise

Various aspects influence which personal loan in Surprise is the best, including your credit, income and payback terms. To help you choose the best for your circumstances, MoneyGeek addressed some frequently asked questions about personal loans in Surprise.

What is the best personal loan lender in Surprise?
Which lender in Surprise has the lowest interest rate?
Can I use a personal loan for vacations in Surprise?
Can I use a personal loan for home improvement in Surprise?
What can I not use my personal loan for in Surprise?
How much can I borrow in Surprise?
How long does it take to get a personal loan in Surprise?
Can I pay off my loan early in Surprise?

Our Personal Loan Methodology

By comparing over 30 lenders using 35+ distinct data points in six essential categories, including lender transparency, loan affordability, consumer friendliness, accessibility, flexibility and customer service, MoneyGeek was able to identify the best personal loan in the state.

Some of the specific data variables that we examined within each rating category include application costs, APR ranges, credit score requirements, disbursement periods, income requirements and loan amounts.

We appreciate you as a consumer, so we looked at each lender's history of providing excellent service as well as any supplemental resources that can help you move through the process more efficiently.

In the end, MoneyGeek presents recommendations that we believe will be ideal for you. When choosing a lender, you can use our loan suggestions and professional advice to help you make well-informed decisions on your finances.

sources
Shield Insurance

The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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