In the competitive world of financial lending, securing the best personal loan for excellent credit can be a game-changer. For those with impeccable credit histories, the benefits are manifold: lower interest rates, flexible terms, and a plethora of options. Whether you're seeking to consolidate debt, make a significant purchase, or handle unexpected expenses, understanding the landscape of personal loans for excellent credit is crucial.

This guide delves into the top loan options, rates, and institutions that cater specifically to individuals with stellar credit scores, ensuring you make an informed decision tailored to your financial needs.

Best Personal Loans for Excellent Credit for 2023

A top-notch credit score is like a golden key in the world of finance. It shows lenders that you're responsible with your money, and in return, they're more likely to roll out the red carpet for you with their best loan offers. But with so many banks and financial institutions vying for your attention, finding the right fit can feel like searching for a needle in a haystack. You deserve a lender who not only offers great rates but also values and understands your financial journey. So, where should you start? In the upcoming section, we've carefully curated a list of the best personal loan lenders who specialize in catering to individuals with excellent credit, making your decision-making process a breeze.

    Top Pick for Excellent Credit: Discover

  • Discover

    • 5.99% to 24.99%APR Range
    • 720Minimum Credit Score
    • $2,500 to $35,000Loan Amount Range
    • 36 to 84 monthsRepayment Terms
    • Next DayTime to Receive Funds

  • Runner-Up: Best Egg

  • Best Egg

    • 8.99% to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg
  • Best For Debt Consolidation: Sofi

  • SoFi

    • 8.99% to 25.81% (with all discounts)APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • 2 DaysTime to Receive Funds

  • Best For Low Rates: LightStream

  • LightStream

    • 7.49% to 25.49%APR Range
    • UndisclosedMinimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 144 monthsRepayment Terms
    • Same day funding possibleTime to Receive Funds

  • Best for Same-Day Funding: Ally

  • Ally

    • 0% to 26.99%APR Range
    • Not DisclosedMinimum Credit Score
    • $500 to $65,000Loan Amount Range
    • Not DisclosedRepayment Terms
    • Same DayTime to Receive Funds


What is Excellent Credit?

Having excellent credit means you've done a great job paying back money you've borrowed in the past. It's like getting an "A" on a report card, but for your finances. People use scores to talk about credit, and these scores go from 300 to 850. If your score is 800 or more, that's like being top of the class! And if it's between 740 and 799, you're still doing really well and have "excellent" credit.

How to Compare Lenders

When looking for a loan, whether it's for a home, car, or personal use, it's essential to find the right lender. But with so many options out there, how do you choose? Here's what to pay attention to:

What To Look For

Interest Rates

Seek lower rates to pay less over the loan's life. But don't make this your only deciding factor.


Be aware of processing fees, early repayment charges, and late payment fees. Know all costs upfront.

Loan Terms

Check the repayment duration. Longer terms might mean more interest paid over time.


Research customer feedback. Look for online reviews or get recommendations from trusted sources.


Choose lenders that offer some leeway in case of unexpected financial changes, like job loss.

Customer Service

Prioritize lenders that are accessible and provide clear answers to your queries.

Loan Amount

Ensure the lender can provide the amount you need. Some have maximum lending limits.

Approval Time

If time-sensitive, find out the duration of the approval process. Some lenders offer quick online approvals.

How To Choose the Best Loan if You Have Excellent Credit

Lenders consider various factors to determine whether or not to approve a personal loan application. Among these are credit scores, current debts, income and employment. Figuring out your goals — to cover large expenses, recover from a crisis or other needs — can help. But understanding requirements and comparing rates are also necessary. MoneyGeek breaks down the steps you can take to find the best personal loans for excellent credit.


Ask Yourself the Important Questions

There are many available personal loans for excellent credit. The best option for you will depend on your needs and circumstances. Check lenders’ qualification processes and see if you meet the requirements. Asking the right questions can also help with your search. Consider the following:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?

Do Your Research

Learning more about the lenders and loan offers is a must. Compare rates from different lenders before applying for a loan. Remember that a personal loan is a commitment. You will have to make monthly payments for two to six years, on average. Additionally, you should also check how the personal loan can affect your credit history.

For instance, some lenders may conduct a soft credit check first. However, there are those that conduct hard credit inquiries, which affect your credit report.

MoneyGeek created this guide to provide the necessary information you can use to get through the loan application process. However, this info may not lead everyone to their ideal personal loan. It is recommended to explore all available options to find the best personal loans for excellent credit.



Take a day or two to reconsider your decision. A personal loan is a commitment. You have to make sure that getting one is the best option for you.

If you are absolutely sure that borrowing money is the right decision, review the information you have gathered. Then, choose the lender you think is best.


Read the Fine Print

Overlooking certain details about a personal loan can lead to more serious issues. While some pieces of information may seem like little things, they can have a significant effect on your repayment terms. In some cases, they can even help you save money in the long run.

Look into fees, such as prepayment penalties, early payoff fees and origination fees. Check for auto-payment discounts. Make sure you read the fine print. If there are details you find confusing, clarify them with the lender.



Once you are 100% sure about your choice, the next step is to proceed with the application. Review the requirements. The process may vary per lender, but most lenders ask for identification, address verification and proof of income.

Determine what type of submissions the lender accepts. Some lenders allow borrowers to apply online. While that may seem like a more convenient option, there is no harm in calling or visiting the lender if available. In doing so, you can better understand the loan offers and clarify your concerns.

Key Takeaways

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Ask Yourself the Important Questions: Check your options and see if taking out a personal loan is the right choice.

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Do Your Research: Compare rates, lenders and loan offers to find the best personal loans for excellent credit.

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Wait: Rethink your decisions for a day or two before finalizing your loan.

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Read the Fine Print: Make sure you understand all information and details, especially fees and conditions.

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Apply: Submit a completed application form, along with the requirements, online, via phone or in person.

FAQs About Personal Loans for Those With Excellent Credit

Generally, the best personal loans for excellent credit depend on the borrower’s needs and various other credit and income factors. MoneyGeek answers some commonly asked questions to help you better understand personal loans.


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 made 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.

Experts' Advice on Personal Loans for Those With Excellent Credit

  1. What is the best way to compare different loans available for those with excellent credit?
  2. What are the most common mistakes you see borrowers make when taking out a personal loan with excellent credit?
  3. What factors should borrowers consider when calculating their monthly payments on a personal loan?
  4. Are there any advantages or disadvantages of taking out a large personal loan with an excellent credit rating?
Gregory Germain
Gregory Germain

Professor at Syracuse University College of Law

Steven Gattuso
Steven Gattuso

Assistant Professor of Economics & Finance at Canisius College

Dr. Vladimir Kotomin, CFA
Dr. Vladimir Kotomin, CFA

Associate Professor of Finance at Illinois State University

Ross Loehr
Ross Loehr

Certified Financial Planner® at Raisonné & HammerPrice Corporation

Nirit Rubenstein
Nirit Rubenstein

CEO & Co-founder of Dovly

About Christopher Boston

Christopher Boston headshot

Christopher Boston is a Senior Manager of Content Strategy and SEO at MoneyGeek. For over half a decade, they have crafted hundreds of articles spanning the higher education, mortgage and personal loan industries. Christopher is passionate about using their skills and experience to create quality content that helps people save and spend their earnings efficiently.

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.