We will, because we’re truly confident that our rates are always competitive. LightStream boasts that it is so "so confident in the competitiveness of our interest rates that we will beat an interest rate (APR) presented by any other lender by .10 percentage points, if the other lender’s rate meets the terms and conditions described" at their website, which include furnishing LightStream with proof of the loan offer that is better than theirs. Most personal loans have a maximum term of 60 months. Get Started PrimeRates Lender … LightStream Personal Loans Review Read More » Secondly, SoFi loans have a higher minimum credit score, while having higher interest rates than LightStream. LightStream Personal Loans Review Receive personalized loan offers through PrimeRates’ quick and simple pre-application online process. This does not influence whether we feature a financial product or service. LightStream Personal Loan Rates & Terms LightStream’s personal loans have fixed-rate APRs ranging from 2.49% to 20.49%, depending on your credit profile, assets, income, how you’ll use the money, and if you sign up for autopay. By eliminating paper almost entirely from the LightStream loan process, we not only save our natural resources but we save on expenses as well, better enabling us to offer you highly competitive interest rates. That is, you’ll find a lower rate until you cash in on LightStream’s Rate Beat guarantee. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. No fees: LightStream has no origination fee or prepayment penalty fees for paying your loan off early. Lightstream also requires credit history, which could rule out borrowers with a limited history of taking out loans or using credit cards. At LightStream, we care about the environment and, more importantly, we try to do something about it.For one, we have created a virtually paperless consumer loan experience at LightStream. LightStream may offer a rate .1% lower than what's offered to you by a competing lender. LightStream is a personal loan provider offering loans of up to $100,000 for applicants with good-to-excellent credit. Payment example: Monthly payments for a $10,000 loan at 2.49% APR with a term of 3 years would result in 36 monthly payments of $288.57. LightStream's Rate Beat Program. Super long loan terms. You will receive a response shortly during business hours. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. The lowest interest rates available include a 0.50% rate discount for signing up for autopay. If you're considering a personal loan and have good credit, LightStream may be a good place to start looking. At LightStream, we care about the environment and, more importantly, we try to do something about it. Got good credit? Loan terms can last anywhere between two years and seven years so you can get quite specific with the exact loan terms you’re looking for. Maximum APR for a … Invoicing option is 0.50% points higher. When you have good credit, LightStream rewards you with the benefits that are most important to you. That’s why LightStream has reinvented lending. At LightStream, loan amounts range from $5,000 to $100,000, and can be repaid in a span of 24 months to 12 years, depending on the loan amount and purpose. It’s not about getting a loan — it’s about getting what you want. LightStream Cons Low Rates: Starting at 2.29% for personal loans, LightStream has among the lowest interest rate personal loans of any lender. Lending services provided by Truist Bank. Lightstream loans can't be used for business purposes, nor to refinance an existing LightStream loan. All other trademarks are the property of their respective owners. Best personal loan rates for January 2021. LightStream Personal Loans offers loan terms of up to 144 months. Disclosure:*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Ready for your best loan experience ever? LightStream rates and terms depend on the applicant’s credit history, assets, and income. Under Florida law we are required to collect and transmit to the State of Florida, on your behalf, a documentary stamp tax. AutoPay discount is only available prior to loan funding. © 2021 Truist Financial Corporation. Get it now on Libro.fm using the button below. Those who set up autopay enjoy better rates. Payment example: Monthly payments for a $10,000 loan at 2.49% APR with a term of 3 years would result in 36 monthly payments of $288.57. Rate is quoted with AutoPay discount. LightStream is the national online consumer lending division of SunTrust Bank, which recently became Truist after merging with BB&T. Firstly, SoFi loans are only available in 30 states, while LightStream loans are available nationwide. But loan decisions aren’t based on credit score alone. To see exact terms visit their Rate Beat page. We even guarantee that your LightStream loan will be your best loan experience ever! Many lenders claim to have low rates. You can apply for multiple personal loans and compare the offers. Here are the options for personal loans: There is an option available for "other" loan purposes, but interest rates are higher in this category. As with any loan, it's important to shop around to find the best deal for you — get offers from several different lenders and compare them to find the one with the lowest APR that's the best fit for your budget. Although rates are specific to borrowers, LightStream's interest rates are lower than those offered by competitors. Maximum APR for a … (conditions apply), Lowest interest rate of major competitors, Wide range of borrowing amounts and terms, Only available to people with good credit, A good credit mix, including a combination of credit card use, and consumer debt like an auto loan or a mortgage, Few or no payment delinquencies on your credit report, Other assets, including liquid savings, investments, and retirement savings. You choose your funding date, and you can even have funds deposited into your account as soon as the same day you apply. LightStream will offer a rate .10 percentage points lower than the rate offered by a competing lender subject to satisfactory evidence being provided that you were actually approved for a lower rate with another lender for the same loan terms offered by LightStream by no later than 2 p.m. Eastern time one business day prior to loan funding. The best RV loans in 2021 for low interest rates, flexibility, and availability are from LightStream, SunTrust, and Bank of the West. LightStream personal loans range from $5,000 to $100,000, which is one of the higher loan limits available among online lenders. Terms are subject to change at any time. AutoPay discount is only available prior to loan funding. Florida residents will have to pay a state stamp tax, however. Good credit means a great rate. While Lightstream loans start at 3.99% APR* (as of 10/27/2020), other competing lenders with similar credit requirements (like Discover and Marcus by Goldman Sachs) start their loan APRs at 6.99%. Stories, strategies, and tips for better personal finance. But, SoFi has two major drawbacks. Rate is quoted with AutoPay repayment discount, which is only available when you select AutoPay prior to loan funding. Unsecured new-car loans, for example, have different rates than debt consolidation or medical loans. We’ve reinvented lending, with a virtually paperless online process that’s refreshingly simple. Rate is quoted with AutoPay discount. You'll set up your repayment, including automatic payments to take advantage of the .5% discount. You can also pay off your loan early without incurring a prepayment penalty. You’re in control of the loan process with LightStream. LightStream is tailored to customers with strong credit and income — even promising to beat some competitors’ rates to get those customers. window.googletag = window.googletag || {cmd: []}; Information on your total monthly housing expenses, like rent, or mortgage payments, including home equity loans. Visit jdpower.com/awards. Lightstream loans are available to customers in all 50 states. LightStream has low interest rates, but you might find a lower rate. }); Disclosure: This post is brought to you by the Personal Finance Insider team. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider Subject to credit approval. LightStream is our #1 rated personal loan lender receiving a LendEDU Rating of 5/5. Like Marcus, LightStream's interest rates have a big advantage over this lender's personal loans. and the SunTrust logo are service marks of Truist Financial Corporation. If you have good credit according to LightStream's requirements above (credit score above 660, a mix of credit types, other assets on hand, few or no delinquent payments, and a steady income), Lightstream interest rates could be hard to beat. SoFi rate ranges are current as of December 18, 2020 and are subject to change without notice. LightStream offers some of the lowest rates for everything from home improvement, debt consolidation, medical bills, auto, motorcycle, RV, boat, etc. However, you'll need a credit score of at least 660, a steady income, several years worth of credit history, and a variety of different types of credit on your report to apply. Not all rates and amounts available in all states. No Origination Fees; LightStream doesn’t charge origination fees. As of Tuesday Jan. 19, 2021. Interest rates vary by the loan's purpose, in addition to credit history, repayment timeframe, and the loan amount. While other Truist brands — SunTrust and BB&T — have physical locations, LightStream loans are only available online. Receive your funds as soon as today. If you're considering a personal loan from LightStream, there are a few things you'll want to know up front. 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