The Best Personal Loans With No Origination Fee in 2026
SoFi is our top choice for a personal loan without origination fees, thanks to its variety of rate discounts, favorable repayment terms, and large loan amounts.
4.6 / 5829 reviews
)
Writer: Mandy SleightInsurance Writer
Writer: Mandy SleightInsurance Writer
Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
)
Editor: Nick VersawSenior Managing Editor
Editor: Nick VersawSenior Managing Editor
Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
)
Reviewer: John LeachLicensed P&C Insurance Agent and Expert Reviewer
Reviewer: John LeachLicensed P&C Insurance Agent and Expert Reviewer
Qualifications:
Licensed property and casualty insurance agent
10+ years editing experience
NPN: 20461358
John Leach is a licensed insurance agent who reviews and fact-checks articles for Compare.com. John has several years of experience reviewing and editing various insurance topics, and he also holds a valid personal lines producer license from the California Department of Insurance (NPN #20461358).
Updated
Why You Can Trust Compare.com: At Compare.com, it’s our mission to find simple ways to help our customers save money on the things they need. While we partner with some of the companies and brands we talk about in our articles, all of our content is written and reviewed by our independent editorial team and never influenced by our partnerships. Learn about how we make money, review our editorial standards, and reference our data methodology to learn more about why you can trust Compare.com.
Personal loans with no origination fee are available for borrowers who want to keep their full loan amount. An origination fee is a borrowing charge that some lenders deduct from your loan proceeds to cover the cost of processing your application.
When you don’t have to pay an application fee, you get to keep more of your personal loan. It can also make borrowing more affordable.
We’ll help you compare the best no-origination-fee personal loans, including their rates, terms, and eligibility requirements. You’ll also learn when a no-fee loan is cheaper and how to lower origination costs if you don’t qualify for one.
Key Takeaways
An origination fee is a fee that some lenders charge to establish, process, and administer a personal loan.
SoFi is the best lender for personal loans with no origination fees, offering large loan amounts, generous repayment terms, and multiple ways to earn rate discounts.
PenFed Credit Union offers the lowest advertised APR, at 6.09%, with a 0.25% auto-pay discount.
Best Personal Loans With No Origination Fee
SoFi is our best overall pick because it combines high loan amounts, flexible repayment terms, fast funding, and opportunities for interest rate discounts.
The following table compares some of the best personal loans currently available with no origination fee, according to Compare.com data. Although these lenders are similar because they don’t require origination fees, that doesn’t mean they all offer the same value. Annual percentage rates (APR), repayment terms, funding speed, and total repayment cost can vary.
Rates were verified on Aug. 17, 2026, but are subject to change. Check each lender’s website for current rates before applying.
Lender | Best For | APR Range* | Loan Amounts | Repayment Terms | Minimum Credit Score | Funding Speed |
|---|---|---|---|---|---|---|
| SoFi | Overall | 6.99%–35.49% | $5,000–$100,000 | 2–7 years | Good to excellent | As soon as the same day |
| Discover | Debt consolidation | 6.99%–24.99% | $2,500–$40,000 | 3–7 years | Not disclosed | As soon as the next business day |
| LightStream | Borrowers with good to excellent credit | 7.24%–24.89% | $5,000–$100,000 | 2–20 years | Good to excellent | As soon as the same day |
| PenFed Credit Union | Borrowers with a co-applicant | 6.09%–17.99% | Up to $50,000 | Up to 5 years | Not disclosed | As soon as the next day |
| Citi | Existing customers | 9.99%–17.49% | $2,000–$50,000 | Up to 5 years | Good to excellent | Within 2 business days |
| U.S. Bank | Small loans | 9.24%–24.99% | $1,000–$50,000 | 1–7 years | Not disclosed | As soon as 1 to 4 business days after the loan closing |
| Wells Fargo | Same-day funding | 6.74%–26.74% | $3,000–$100,000 | 1–7 years | Not disclosed | As soon as the same day |
| TD Bank | East Coast borrowers | 7.99%–23.99% | $2,000–$50,000 | 3–5 years | Not disclosed | As soon as one business day |
| Earnest | Flexible terms | 7.24%–25.24% | $3,000–$50,000 | 2–7 years | Not disclosed | As soon as one business day |
| Alliant | Credit union personal loan | Starting at 8.99% | $1,000–$100,000 | 1-, 2-, 4-, and 5-year options | Not disclosed | As soon as the same day |
*APR ranges gathered from lender websites may include auto-pay discounts and are accurate as of Aug. 17, 2026. Personal loan rates change. Check lender websites for the most current APRs.
Find a Personal Loan That Fits Your Needs
Compare multiple top personal loan options side by side.
Excellent
4.6 out of 5 based on 829 reviews
Secure. Free. Easy-to-use.
SoFi: Best overall
SoFi personal loans are our best overall pick because they offer loan amounts up to $100,000, same-day funding, and flexible loan terms. Rates start at 6.99%, including a 0.25% auto-pay discount and a 0.25% member rate discount. Although SoFi advertises a no-origination-fee loan, some borrowers may pay up to 7% in origination fees, so review your individual offer carefully.
Pros
Borrow up to $100,000
Same-day funding may be available
Up to 0.50% rate discounts possible
Cons
Origination fee of up to 7% may apply
Highest APR: 35.49%
Secured loans not available
Discover: Best for debt consolidation loans
Consider Discover if you’re looking to consolidate debt. It can send funds directly to your creditors and doesn’t charge any fees on its unsecured personal loans. Borrowers can request between $2,500 and $40,000 with up to seven years of fixed monthly payments. Discover has a $25,000 minimum annual income requirement.
Pros
Receive funds as soon as the next business day
No prepayment penalty
Will pay many creditors directly for free
Cons
Can’t use to pay secured loans, Capital One, or Discover credit cards
Requires at least $25,000 in minimum annual income
Maximum loan of $40,000
LightStream: Best for borrowers with good to excellent credit
LightStream personal loans offer strong-credit borrowers loans of up to $100,000, with repayment terms of up to 20 years — the longest of any lender on our list. At least one-third of approved applicants receive the lowest rate, which is currently 7.24% (with an auto-pay discount), according to its website.
Pros
Offers individual and joint loans
Terms of up to 20 years
Same-day funding available
Cons
Loan amount and APR vary by loan purpose
Can’t use to refinance existing LightStream loan
Auto-pay discount available only before funding
PenFed Credit Union: Best for borrowers with a co-applicant
PenFed is a good choice for applicants who need a co-borrower to qualify or get the lowest rate. It offers the lowest APR, at 6.09% (with a 0.25% auto-pay discount) for loans up to $50,000, with repayment terms of up to five years. PenFed doesn’t charge any fees, including balance transfer fees, except for a fee on late payments.
Pros
Allows a cosigner for the best terms
Doesn’t require existing membership to qualify
No prepayment penalty
Cons
Length of membership considered
Loan amount determines term and APR
$50 minimum monthly payment requirement
Citi: Best for existing customers
Citi personal loans are best suited for existing Citi customers, who can qualify for up to $50,000. New Citi customers can apply for up to only $30,000. You can receive funds as soon as the same business day for deposits into an existing Citibank account or within two business days for deposits into an existing external bank account.
Pros
Same-day funding available for existing Citibank accounts
No late fees or prepayment penalties
Relationship Tier customers may qualify for APR discounts
Cons
Can’t consolidate Citibank accounts
Requires good-to-excellent credit
Must have a Citi deposit account for at least 12 months to qualify
U.S Bank: Best for small loans
U.S. Bank personal loans are particularly useful for borrowers who need a relatively small personal loan, with amounts starting at just $1,000. Current U.S. Bank customers can borrow up to $50,000 with terms of up to seven years. Non-customers are limited to $25,000 and terms of no more than five years.
Pros
No prepayment penalties
Home improvement personal loans don’t require collateral
No annual fees
Cons
Funding can take one to four business days after loan closing
Loan amount and term limitations for non-customers
Loan programs vary by state
Wells Fargo: Best for same-day funding
If you need fast access to cash, Wells Fargo offers same-day credit decisions and funding for most applicants. You can apply for up to $100,000 and loan terms of up to seven years, though qualifying for its lowest rate may be challenging. Wells Fargo’s website states that just 10% or more of applicants who applied during the second quarter received its lowest available rate.
Pros
Loan amounts up to $100,000
Same-day funding for most applications
Can apply in person or online
Cons
Only existing Wells Fargo customers can apply
Few applicants qualify for the best rates
Best APRs require qualifying Wells Fargo accounts and auto pay
Compare Top Personal Loan Providers
See rates, monthly payments, and total loan amounts.
Excellent
4.6 out of 5 based on 829 reviews
Secure. Free. Easy-to-use.
TD Bank: Best for East Coast borrowers
TD Bank personal loans are a solid option for borrowers who live in TD Bank’s East Coast service area and want a straightforward, no-fee personal loan. The TD Fit Loan offers up to $50,000 with a minimum repayment term of three years and APRs ranging from 7.99% to 23.99%.
Pros
Loans start at $2,000
Funding is generally available the next business day
No prepayment penalties
Cons
Only available in some East Coast states
Florida residents pay a Doc Stamp Fee
No auto-pay discount
Earnest: Best for flexible repayment terms
Earnest advertises 72 repayment options on its website, making it a strong choice for borrowers who want flexible repayment terms. While its stated minimum loan amount is $3,000, minimums in some states vary from $10,000 to $25,000. Borrowers can choose to pay an origination fee of up to 8% for a lower rate.
Pros
Offers up to a 0.75% rate reduction for making on-time payments
Repayment terms up to seven years
Offers a 0.25% auto-pay discount
Cons
Loan minimums vary by state
Requires two months of savings to qualify
Must link financial accounts to Plaid when applying
Alliant Credit Union: Best credit union personal loan
Alliant is our pick for the best credit union personal loan because it offers competitive rates, loans up to $100,000, and same-day funding for most borrowers. Rates start at 8.99% with automatic payments, and applicants need to be established Alliant members for at least 90 days before applying.
Pros
Offers debt protection plans
Maximum loan amount of $100,000
No prepayment penalties
Cons
Requires 90 days of Alliant membership before applying
APR is 0.4% higher without auto pay
Rates are 1% higher if refinancing an Alliant loan
How we chose the best personal loans with no origination fee
To identify the best no-origination-fee lenders, the Compare editorial team verified each lender’s fee structure and evaluated its APR competitiveness, loan amounts and term flexibility, funding speed, credit accessibility, and transparency. No single lender is best for every borrower, so it’s important to evaluate each lender yourself in the context of your individual needs and situation.
Pros and Cons of Personal Loans With No Origination Fee
A no-origination-fee personal loan can reduce your up-front borrowing costs, but it doesn’t always mean you’ll pay less overall. Calculate the total cost of the loan and weigh the pros and cons before borrowing.
Pros
Keep more of your loan amount
No up-front borrowing fee
Easier to compare total borrowing costs
Cons
Higher APRs may offset fee savings
Other fees, such as late fees or prepayment penalties, may still apply
Longer repayment terms can increase total loan costs
Are No-Origination-Fee Personal Loans Actually Cheaper?
Not always. A no-origination-fee loan can be cheaper if it has a low fixed interest rate. But a loan with a fee may be cheaper if it beats the no-fee loan rate. Using a personal loan calculator can help you determine which loan is cheaper. Make sure to compare APRs, which are the total cost of the loan, not just the interest rate.[1]
Let’s look at the following example to see which option is cheaper, assuming a three-year repayment period and a fixed rate.
Loan Amount | Interest Rate | Origination Fee | Cost of Credit |
|---|---|---|---|
| $10,000 | 12% | $0 | $1,957.15 |
| $10,000 | 11% | 3% ($300) | $2,085.94 |
What Credit Score Do You Need to Get a Personal Loan With No Origination Fee?
You’ll usually have the best chance of getting a no-origination-fee personal loan with a FICO Score of 670–739. Lenders tend to reserve their lowest rates and fewest fees for the lowest-risk borrowers.
Below are the FICO credit tiers lenders typically use:[2]
Poor: Below 580
Fair: 580–669
Good: 670–739
Very good: 740–799
Exceptional: 800+
Borrowers with fair or poor credit may have fewer true no-fee loan options and could face higher APRs or additional fees.
How to Compare Personal Loans With No Origination Fee
When comparing personal loans with no origination fees, focus on the APR and total repayment cost. When possible, prequalify with multiple lenders to compare personalized rates. Prequalifying uses a soft credit check that doesn’t affect your credit score.
Consider the following when comparing personal loans:
Compare APRs. Look beyond the advertised range and compare the APR you’re offered.
Calculate total borrowing costs. Compare how much you’ll repay over the life of the loan.
Check loan amounts. Make sure you can borrow enough to cover your expenses after any applicable fees are deducted.
Compare repayment terms. A longer term may lower monthly payments but increase total interest.
A no-fee loan isn’t necessarily the cheapest option if it carries a higher APR.
How to Avoid or Reduce Personal Loan Origination Fees
Not every borrower qualifies for a no-fee personal loan. But using these strategies may help you reduce your borrowing costs:
Shop no-fee lenders. Many banks and credit unions typically offer no-fee loans for qualified applicants.
Improve your credit. A higher credit score can help you qualify for more lender offers with lower rates and fewer fees.
Use a co-borrower. Applying with a strong co-borrower may improve your chances of qualifying for better loan terms.
Sign up for auto pay. Many lenders offer an interest rate discount when you enroll in automatic payments.
Leverage an existing bank relationship. Your current bank or credit union may offer relationship discounts or more lenient eligibility guidelines.
Prequalify first. Prequalifying with multiple lenders lets you compare offers without a hard credit inquiry that could lower your score.
Personal Loans With No Origination Fee FAQs
A no-origination-fee personal loan can reduce up-front borrowing costs, but it may not be the best option. Below are answers to common questions to help you choose.
What is a personal loan origination fee?
A personal loan origination fee is a charge for processing and funding your loan.[3] It’s typically deducted from your loan proceeds and is usually 1% to 8% of your loan amount.
How can you get an origination fee waived?
You may avoid an origination fee by choosing a no-fee lender, negotiating with your lender, or improving your credit history to qualify for better offers. Prequalifying can help you compare options.
Is a no-origination-fee loan always cheaper?
No. A loan without an origination fee can have a higher APR, making it more expensive overall. Compare the APR, total repayment cost, loan term, and any other fees before borrowing.
What credit score do you need for a no-origination-fee loan?
The minimum credit score needed varies by lender. A good FICO Score of 670 or higher can improve your chances. Lenders also consider your credit history, income, and debt-to-income (DTI) ratio.
Which lenders offer personal loans with no origination fees?
Several lenders offer personal loans with no origination fees, including SoFi, Discover, LightStream, PenFed, Citi, U.S. Bank, Wells Fargo, TD Bank, Earnest, and Alliant.
Sources
- Consumer Financial Protection Bureau. "What is the difference between a loan interest rate and the APR?."
- MyFICO. "What is a Credit Score?."
- Cornell Law School, Legal Information Institute. "Origination fee."
Writer: Mandy SleightInsurance Writer
Writer: Mandy SleightInsurance Writer
Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
Editor: Nick VersawSenior Managing Editor
Editor: Nick VersawSenior Managing Editor
Nick Versaw leads Compare.com's editorial department, where he and his team specialize in crafting helpful, easy-to-understand content about car insurance and other related topics. With nearly a decade of experience writing and editing insurance and personal finance articles, his work has helped readers discover substantial savings on necessary expenses, including insurance, transportation, health care, and more. As an award-winning writer, Nick has seen his work published in countless renowned publications, such as the Washington Post, Los Angeles Times, and U.S. News & World Report. He graduated with Latin honors from Virginia Commonwealth University, where he earned his Bachelor's Degree in Digital Journalism.
Reviewer: John LeachLicensed P&C Insurance Agent and Expert Reviewer
Reviewer: John LeachLicensed P&C Insurance Agent and Expert Reviewer
Qualifications:
Licensed property and casualty insurance agent
10+ years editing experience
NPN: 20461358
John Leach is a licensed insurance agent who reviews and fact-checks articles for Compare.com. John has several years of experience reviewing and editing various insurance topics, and he also holds a valid personal lines producer license from the California Department of Insurance (NPN #20461358).