Prosper Personal Loan 2022 Review – Forbes Advisor

the best personal loans offer competitive rates, flexible loan amounts and a wide range of terms. Here is how Prosper personal loans compare to other popular lenders:

Prosper versus. SoFi

SoFi offers loans ranging from $ 5,000 to $ 100,000, making it a good option for borrowers who need more cash than is available through Prosper. SoFi Personal Loans also offer competitive APRs starting around 6% with automatic payment and increasing to around 20%, well below Prosper. SoFi also does not charge origination fees, prepayment penalties, or late fees.

Related: Review of SoFi Personal Loans

Prosper versus. LightStream

Personal loans offered through LightStream range from $ 5,000 to $ 100,000, which is double the maximum loan amount available from Prosper, depending on the purpose of the loan. LightStream APRs are also much more competitive, starting below 3% for qualifying loan types with automatic payment and reaching a high of around 20%, which depends on the purpose of your loan and your creditworthiness.

Additionally, the LightStream loan repayment terms are more flexible than those available to Prosper borrowers and range from two to 12 years, depending on the purpose of your loan. Borrowers are also not charged any set-up fees or prepayment penalties.

Related: LightStream Personal Loan Review

Prosper versus. To improve

The personal upgrade loans are available from $ 1,000 to $ 50,000, similar to the loan amounts offered by Prosper. Upgrade APRs are also comparable to those available through Prosper and range from around 6% to around 36%. That said, Upgrade offers a much wider range of loan terms than Prosper (24-84 months) and a lower minimum credit score requirement – just 580.

Related: Personal Loan Review Upgrade

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