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Best Personal Loans in Delaware

Your credit score, income and employment history are some of the factors that lenders will consider if you are looking for a personal loan in Delaware. On average, personal loans in Delaware have an interest rate of 9% and can be a viable option if you want to consolidate debt, finance a large purchase or pay for an emergency. The average personal loan debt in Delaware is $16,674. However, your borrower profile and needs will determine the best personal loans in Delaware for you.

Last Updated: 6/8/2022
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MoneyGeek’s Pick on Best Personal Loan Lender in Delaware: Lightstream

MoneyGeek broke down the best lenders for personal loans in Delaware using multiple rating factors. We ranked lenders based on their loan repayment lengths, loan amounts, interest rates, minimum requirements, fees, BBB rating and other factors. MoneyGeek also analyzed lenders' approval policies including minimum credit scores, minimum income level and minimum age requirements.

Our analysis also looked at the user experience offered by lenders including the availability of online application options and mobile apps for borrowers.

Best Overall Personal Loan Lender in Delaware: 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 Recieve Funds

    on LightStream Website

Best Personal Loan Lender for Bad Credit in Delaware: 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 Recieve Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Delaware: 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 Recieve Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Delaware: 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 Recieve Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement in Delaware: 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 Recieve Funds

    on Best Egg Website

How to Choose the Best Personal Loan Lender in Delaware for You

The average personal loan debt in Delaware is $16,674. People use personal loans for a variety of reasons ranging from consolidating debt to financing large purchases. However, before you apply for a personal loan it is important to consider factors such as your gross income, credit score and current debts. These factors will be important in determining the best lender for your profile and needs.

The below actions steps can help you find the best personal loans in Delaware.

1

Ask Yourself the Important Questions

  • How much funding do you need?
  • What is your credit score?
  • Can you afford the monthly payment?
  • How much debt do you already have?
2

Do Your Research

Fees, interest rates, minimum requirements and application processes vary depending on the lender. This means that doing adequate research, including comparing rates and fees, is important if you want to find the best lender for your needs. Consider that you will need to make monthly payments for two to four years. Find out a lender’s limitations on usage to help you determine whether they are right for you. MoneyGeek’s recommendations are for particular borrower profiles but you may have other needs that do not fit these scenarios. Doing your own research will help you find the best lenders for your specific needs and profile.

3

Wait

It is important to take some time before making a decision on your personal loan. Waiting a day or two and weighing your options will give you time to make sure that you are making the right choice since personal loans are a long-term commitment.

After doing your research, take time to think through your options and the commitment involved. If you find that the financial obligations may be overwhelming, consider getting the loan at a later time or looking for alternative methods of financing.

4

Read the Fine Print

Prepayment penalties, late payment fees and other fees can stack up over time. This is why reading the fine print on your personal loan is crucial before signing up. Some lenders will be high on fees and charges which may increase your debt burden even more. Reading the fine print can help you avoid unnecessary charges and help you save significant amounts.

5

Apply

Once you are confident that you have selected the right lender, loan amount and are aware of the commitment involved you can apply for your personal loan. Lenders will require your personal information such as addresses as well as income and financial status.

Most lenders have convenient online application processes which make application easier but some require an in-person application. However, you may want to consult the lender in person or over the phone if you need clarification on terms and fees to make sure you understand what your loan entails.

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

In some cases, a personal loan application may be declined. The reason for a declined application may include your credit score, gross income or debt-to-income ratio. However, since these are factors that can be improved over time, you can always improve them over time to increase your eligibility for a personal loan.

If you are declined, always confirm the reason with the lender. This will help you understand if you may be able to qualify for a loan with a different lender or what you need to improve. For instance, some lenders have a high credit score requirement while others will accept borrowers with average credit scores. Avoid applying for another loan until you have verified why you were declined and improved on it if possible.

Payday loans may seem like a viable alternative if you are declined for a personal loan, but they tend to have high-interest rates and short repayment periods so it is best to avoid them.

Frequently Asked Questions About Personal Loans in Delaware

Applying for personal loans in Delaware can help you get the funds you need for emergency expenses or other uses. However, the best lender for you will depend on a variety of factors. You can learn more in the frequently asked questions below.

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METHODOLOGY

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’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, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings for our coverage of credit card products. MoneyGeek and CardRatings may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.