Best Personal Loans in Yonkers, NY: Top Lenders & Best Picks for You

Of the lenders evaluated, we found that LightStream offers the best personal loans in Yonkers. LightStream was formed in 2013 as an online lending division of Truist Bank.

LightStream’s loan products vary from $5,000 to $100,000. Depending on the intended use of the loan, borrowers can opt for repayment terms between 24 and 84 months, allowing them to pick a repayment schedule that best aligns with their financial goals.

The lender’s straightforward online application makes it easy to apply for a loan. Furthermore, the lender doesn’t charge fees for loan origination, prepayment or late payments. With LightStream, you may also be able to receive your funds the same day that you’re approved, making it a great option for those that need funding quickly.

While LightStream personal loans are advantageous in many ways, it may be difficult for some borrowers to qualify, as the lender’s minimum credit score requirement is 660. The lender also doesn’t allow co-signers, making it more difficult for those with limited or poor credit histories to obtain a personal loan with this lender.

MoneyGeek found that Upstart offers the best personal loans in Yonkers to borrowers with bad credit. Those with a minimum credit score of 300 may be eligible for an Upstart personal loan.

Instead of solely analyzing your credit score, the lender also considers your employment details and education history to assess your loan eligibility and rates. When you apply for a loan, the lender conducts a soft credit inquiry that doesn’t hurt your credit score. Once your loan application is approved, you may receive funds within one business day.

While a poor credit score won’t preclude you from receiving an Upstart personal loan, those with bad credit may receive a high APR up to 35%. The lender doesn’t offer discounts for automatic payments, which would potentially offset a high APR. Furthermore, the lender charges high origination fees, between 0% and 10% of the original loan amount, that could significantly increase the cost of your loan.

SoFi offers the best personal loan in Yonkers to those with good credit. Borrowers with a credit score of at least 680 will be eligible for a personal loan that has a relatively low interest rate and flexible repayment terms.

The lender’s personal loan products range in amount from $5,000 to $100,000 with repayment terms from 12 to 60 months. This permits borrowers to obtain a larger loan at a relatively lower interest rate. Furthermore, SoFi offers quick funding, making it an ideal option for those that need funds quickly. One unique feature of SoFi personal loans is its unemployment protection. In the event you lose your job, this feature allows you to modify or pause your loan payments.

While a SoFi personal loan is a great option for those with good credit, you may find that the lender still isn’t best for your needs. For instance, those that want a loan that’s less than $5,000 should consider other lenders that offer the best personal loans for borrowers with good credit.

Upgrade offers the best personal loan in Yonkers for debt consolidation. This lender offers the option to pay third-party creditors directly.

With an Upgrade personal loan, those with a fair minimum credit score of 560 can qualify for a personal loan between $1,000 and $50,000. This makes it an ideal lender for those seeking a small to moderate amount of funding.

While only a fair credit score is required to qualify, it’s important to be aware that those with poor credit may be subject to a high interest rate in excess of 35%. Conversely, those with excellent credit may receive a low interest rate. To receive a discounted interest rate, you can sign up for automatic payments.

You aren’t able to use an Upgrade personal loan to fund all types of expenses, so it’s important that you verify your eligibility with this lender. If you want to avoid paying fees for late payments or loan origination, you can also review our other choices for the best debt consolidation loan lenders.

Based on MoneyGeek’s analysis, Best Egg is the ideal lender option for financing home improvement projects. Since it was formed, the lender has funded over 1.1 million loans and has received an A+ rating from the Better Business Bureau (BBB) for its superior customer service.

Its loan amounts vary between $2,000 and $50,000, making it suitable for both small and moderately-sized home improvement projects. Interest rates on the lender’s loan products meant that you could receive a high APR depending on your credit score.