Best Personal Loans in Jackson, MS: Top Lenders & Best Picks for You

MoneyGeek found that LightStream offers the overall best personal loan in Jackson. LightStream is an excellent option for borrowers searching for large loans, as they can borrow from $5,000 to $100,000 with possible repayment periods of 24 to 84 months.

LightStream may also be a good option for borrowers who want low rates and no fees. This lender’s rates are relatively lower than its competitors. It also offers an autopay discount of 0.50%. Additionally, LightStream does not have origination fees, late fees or prepayment penalties.

If you’re planning to get a debt consolidation loan from this lender, the funds will go to your personal bank account. LightStream cannot send funds directly to your creditors.

Pros

• Few fees
• Loans up to $100,000
• Multiple repayment term options
• Autopay discount
• Quick release of funds

Upstart is MoneyGeek’s best pick for borrowers in Jackson with poor credit. This company was founded in 2012 and is one of the first lenders to use AI technology in the industry. As a result, Upstart can accept more loan applications while lowering the risk of default.

To be eligible for a loan, borrowers need to have a credit score of 300. However, Upstart can still accept applications from borrowers who don’t meet this requirement. Its APRs mean that those with poor credit may get higher rates.

Upstart can provide loans from $1,000 to $50,000. Borrowers can receive their funds on the business day after their loan approval. They can repay their loans in 36 or 60 months. Upstart may allow you to adjust your monthly payment dates or make bi-monthly payments if you're having trouble meeting your monthly deadlines.

Pros

• Low minimum credit score requirement
• Funds released on the next business day
• Payment flexibility
• Borrowers can set bi-monthly payments
• No prepayment penalties

Borrowers with good credit may find the best personal loan from SoFi, a lender established in 2011. SoFi personal loans have no fees, so you avoid prepayment penalties, closing costs, origination fees and late fees. You need a credit score of 700 and above to get these loans.

SoFi offers $5,000 to $100,000 in personal loans, making it a good option if you need a large amount. You can get your funds after a few days of your loan approval, and repayment terms range from 12 to 60 months.

SoFi’s unemployment protection can help borrowers repay their loans if they lose their job during the repayment period. It can grant borrowers a forbearance period of up to 12 months throughout the life of their loan.

Pros

• Offers unemployment protection
• Can accommodate larger loans
• Gives autopay discount
• No fees

Upgrade, a lender established in 2017, is MoneyGeek’s top pick for debt consolidation loans in Jackson. The lender can send funds from your Upgrade personal loan directly to your creditors. However, these can take up to two weeks to clear.

Upgrade allows you to consolidate debt from $1,000 to $50,000, but you need a credit score of 560 to be eligible for a loan. Your rate can be high if you have poor credit.

Repayment times range from 36 to 60 months, and Upgrade allows you to adjust your monthly payment deadlines. The lender also offers a 15-day late payment grace period, after which it charges a late fee of up to $10.

Pros

• Sends funds to creditors
• No prepayment penalties
• Payment flexibility
• 15-day grace period
• Allows joint applications

Best Egg, a lender founded in 2014, is MoneyGeek's top recommendation for home improvement loans in Jackson. Personal loans from Best Egg can range from $2,000 to $50,000 and have repayment terms of 36 to 60 months.

The minimum credit score requirement for a Best Egg loan is 700. However, your credit score is one of many factors the lender considers when determining your creditworthiness.

Nevertheless, you may pay higher rates if your credit profile isn't excellent. Best Egg loans' APRs can be higher than those other lenders offer.

Pros

• Payment flexibility
• No prepayment penalties
• Creditworthiness not solely determined by credit score
• Fast release of funds