MoneyGeek's Picks for Best Personal Loan Lenders in Yonkers, NY

MoneyGeek identified the best lenders for personal loans in Yonkers based on several criteria, including each lender’s APR ranges, minimum and maximum loan amounts, credit score requirements, repayment terms and funds disbursement time.

Based on this evaluation, LightStream offers the best personal loans in Yonkers for the average borrower. Those with bad or good credit will get the best loan from Upstart and SoFi, respectively. Borrowers seeking to use their loan for debt consolidation or home improvements will fare best with Upgrade and Best Egg.

Best Overall Personal Loan Lender in Yonkers: 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


Best Personal Loan Lender for Bad Credit in Yonkers: 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


Best Personal Loan Lender for Good Credit in Yonkers: 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


Best Personal Loan Lender for Debt Consolidation in Yonkers: 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


Best Personal Loan Lender for Home Improvement in Yonkers: 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

    Best Egg

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

Our research shows that borrowers in New York have an average personal loan debt of $17,892. In many cases, a personal loan can help improve your financial situation. However, before you apply for a loan, it’s important to make sure it’s the best option for you. MoneyGeek recommends taking the following steps to make a well-informed decision.


Ask Yourself the Important Questions

Prior to applying for a personal loan, you should ask yourself the following questions to understand your options and needs.

  • How much funding do I need? It’s important to accurately estimate your loan amount to avoid over- or under-borrowing money. This will help you avoid paying more in interest or having to take out a second loan.
  • What is my credit score? Your credit score will impact your lender eligibility and the terms, like the loan amount and interest rate, that you’ll receive on your loan. If you aren’t in urgent need of funds, consider improving your credit score before you apply for a loan to receive a lower interest rate.
  • Can I afford the monthly payment? While making a higher monthly payment will reduce the amount you pay in interest, you should ensure that you can still afford your other living expenses.
  • How much debt do I already have? If you already have existing debt, you may want to avoid taking on more.

Do Your Research

To find the best lender for your needs, you should compare lenders for their loan terms and eligibility requirements. Loan terms, like interest rates, loan amounts, repayment terms and fees, vary by lender. A personal loan is a significant commitment of your time and money, so it’s important to find the one that will help you best meet your financial goals. MoneyGeek’s guide is a great place to start, but our recommendations are based on general borrower profiles, rather than your unique situation. As such, there’s no substitute for your own research.



After choosing a lender, it’s important to wait a few days before you apply. During this time, you can review other lenders or consider alternative funding options. Because taking out a loan can have long-term implications on your finances, it’s important that it isn’t a hasty decision.


Read the Fine Print

MoneyGeek recommends thoroughly reading the fine print of your loan agreement to identify any hidden fees, like those for loan origination, late payment or early repayment. While seemingly small, these fees can add up over the life of your loan. If you aren’t sure about the terms of your agreement, you can reach out to your lender for clarification.



After understanding the necessary information and reviewing the lender’s fees, you can apply for a loan. You might have to provide personal information like proof of address, income, previous or existing loans and other financial details for the lender to verify. Some lenders only allow applicants to apply online, while others permit in-person or over-the-phone applications.

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

Qualifying for a loan might seem pretty straightforward once you have submitted the necessary information. However, the lender may deny your loan application because of factors like a bad credit history, low income, high DTI, unstable employment or incomplete application.

Most borrowers will prefer applying for a loan with a different lender in this situation. However, MoneyGeek first recommends contacting the original lender and asking them why your application was rejected. This way, you can improve the factor that caused your application to be initially rejected before you reapply with the same lender or apply with a different lender. Sometimes by modifying the terms of your loan agreement, like reducing the loan amount or increasing your repayment terms, your application will be approved.

MoneyGeek strongly advises against payday loans. These loans feature high interest rates and short repayment terms that often cost the borrower more money than the original loan itself.

Frequently Asked Questions About Personal Loans in Yonkers

MoneyGeek answered the following frequently asked questions to help you learn more about personal loans in Yonkers.

Our Personal Loan Methodology

MoneyGeek’s guides involve the analysis of several personal loan lenders using individual data points across these crucial categories: lender transparency, loan affordability, consumer friendliness, customer service, accessibility and flexibility.

For our analysis, we considered several data points within each category that significantly matter when choosing a personal loan lender. These factors include application fees, available loan amount, minimum credit score, APR ranges, income amount and disbursement time.

The consumer is immensely valuable for MoneyGeek, which is why we also factor in each lender’s features, customer support and business ratings. We consider features that make your experience more convenient, like payment options, prequalification and mobile apps.

Our picks are finalized after careful analysis and keeping your interests in mind. MoneyGeek gives personal loan recommendations and expert tips to help you decide when finalizing the perfect lender for your situation.


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.