LightStream Personal Loan Guide

LightStream personal loans from Truist Bank deliver ultra-competitive rates, zero fees, and same-day funding for qualified borrowers.

Many U.S. banks such as Wells Fargo, TD Bank, and PNC provide personal loans with stable terms and predictable monthly payments. Borrowers generally need a good to excellent credit score, and while the approval process may take longer than online lenders, these banks offer peace of mind and access to customer service representatives. Traditional bank loans are suited for those who prefer in-person assistance or already have a relationship with their financial institution.

LightStream, a division of Truist Bank, sets itself apart by offering low-interest personal loans with zero fees, all through a seamless digital experience. There are no origination fees, no late fees, and no prepayment penalties, making this one of the most cost-effective options for those with good to excellent credit. The application is fully online, with same-day funding available if all steps are completed early in the day. LightStream even offers a Rate Beat Program: if another lender approves you for the same loan terms with a lower rate, they’ll beat it by 0.10 percentage points. 

Platforms like Upstart, LendingClub, and Upgrade allow users to fill out a single application and receive multiple prequalified offers. These online marketplaces are designed for convenience, offering quick soft credit checks, real-time comparisons, and funding within one or two business days. They tend to have flexible underwriting criteria and may serve borrowers with fair or limited credit histories. However, some offers may come with higher APRs or origination fees.

Credit unions across the U.S.—such as PenFed or Alliant—are known for their lower rates, minimal fees, and personalized service. While membership is typically required, many offer easy ways to join online. These loans can be a smart choice for consumers who want a more community-focused lending experience, especially those with solid income but average credit. Credit unions are often more forgiving during financial hardship and may offer financial counseling along with lending products.

Borrowers with low credit scores still have access to personal loans through providers like OneMain Financial, Avant, or NetCredit. These lenders often approve applications with FICO scores below 600, although the tradeoff is a higher interest rate and possibly additional fees. Some offer secured loan options that require collateral, which can improve your chances of approval and lower your APR. Before accepting any offer, always review the terms carefully and make sure the monthly payments are sustainable.