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- Annual Percentage Rate (APR): 7.99%–25.49%* APR with AutoPay
- Loan purpose: debt consolidation, home improvement, auto financing, medical expenses, and others
- Loan amounts range from $5,000 to $100,000
- Terms: 24 to 144 months*, dependent on loan purpose
- Credit neededGood
- Origination feeNone
- Early payoff penaltyNone
- Late fee None
See our methodology, terms apply. AutoPay discounts are only available prior to loan funding. Rates without AutoPay are 0.50% higher. Excellent credit is required for the lowest rate. Rates vary by loan purpose.
Pros
- Same-day funding is available through ACH or wire transfer (conditions apply)
- Loan amounts up to $100,000
- No origination fees, no early payoff fees, no late fees
- LightStream plants a tree for every loan
Cons
- Requires several years of credit history
- There is no option to pay your creditors directly
- Not available for student loans or business loans
- There is no option for pre-approval on website (but pre-qualification is available on some third-party lending platforms)
Who’s this for?
LightStream, the online lending arm of SunTrust Bank, offers low-interest loans with flexible terms for people with good credit or higher. LightStream is known for providing loans for nearly every purpose except for higher education and small businesses. You could get a LightStream personal loan to buy a new car, remodel the bathroom, consolidate debt, or cover medical expenses, according to the company’s website.
You can receive your funds on the same day; if you apply on a banking business day, your application will be approved, and you will electronically sign your loan agreement and verify your direct deposit banking account information by 2:30 p.m. ET.
LightStream offers the lowest APRs of any lender on this list, including a discount when you sign up for autopay. Interest rates vary by loan purpose, and you can view all ranges on Light Stream's website before you apply. This is subject to change as Fed rates fluctuate.
If you select the invoicing option for repayment, your APR will be 0.50% higher than if you sign up for autopay. The APR is fixed, which means your monthly payment will stay the same for the lifetime of the loan. Terms range from 24 to 144 months, dependent on loan purpose—the longest-term option among the loans on our best-of list.
LightStream does not charge any origination fees, administration fees, or early payoff fees.