Borrowing money is never ideal. It’d be nice to be able to throw cash on the table for every purchase in life and thus avoid interest payments—and the stress that comes with owing money. But many situations in life will require at some point, for most of us, a personal loan.
From debt consolidation to emergency expenses to improving your property, a personal loan can be a comparatively cheap way for those with excellent credit (typically meaning an 800+ credit score, according to FICO) to borrow money. Here’s what you need to know.
Best personal loans for excellent credit of January 2026
| Best for | Institution | Max loan amount | Max loan term | APR | See details |
|---|---|---|---|---|---|
| Low minimum APR | LightStream | $100,000 | 240 months | 6.49%-24.89% | View offer at MoneyLion |
| Preapproval | American Express | $50,000 | 60 months | 6.99%-19.99% | View offer at MoneyLion |
| Low fees | Wells Fargo | $40,000 | 84 months | 6.74%-25.99% | View offer at MoneyLion |
| Large loans | BHG Money | $250,000 | 120 months | 8.72%-27.87% | View offer at MoneyLion |
| Preapproval | Navy Federal Credit Union | $150,000 | 180 months | 8.74%-18.00% | View offer at MoneyLion |
| Low minimum APR | View offer at MoneyLion |
|---|---|
| Institution | LightStream |
| Max loan amount | $100,000 |
| Max loan term | 240 months |
| APR | 6.49%-24.89% |
| Preapproval | View offer at MoneyLion |
| Institution | American Express |
| Max loan amount | $50,000 |
| Max loan term | 60 months |
| APR | 6.99%-19.99% |
| Low fees | View offer at MoneyLion |
| Institution | Wells Fargo |
| Max loan amount | $40,000 |
| Max loan term | 84 months |
| APR | 6.74%-25.99% |
| Large loans | View offer at MoneyLion |
| Institution | BHG Money |
| Max loan amount | $250,000 |
| Max loan term | 120 months |
| APR | 8.72%-27.87% |
| Preapproval | View offer at MoneyLion |
| Institution | Navy Federal Credit Union |
| Max loan amount | $150,000 |
| Max loan term | 180 months |
| APR | 8.74%-18.00% |
Lender details checked Jan. 15, 2025
Best for low minimum APR
LightStream
| Loan amount | $5,000-$100,000 |
| APR | 6.24%-24.89% |
| Max loan term | 240 months |
at MoneyLion
- Year Founded: 2012
- Company Headquarters: San Diego, CA
- CEO: William H. Rogers
There’s a lot to like about LightStream when you’ve got excellent credit. The fully online lender specializes in serving those with good-to-excellent credit, offering APR as low as 6.49%. That’s lower than just about any competitor, but only those with stellar credit are likely to get rates this low. The least creditworthy borrowers may receive a much higher 24.89% APR.
LightStream also offers generous maximum loan amounts—and repayment terms that are double the size of many competitors. Those with excellent credit may be able to get a term of up to 240 months for certain loans.
Beset for preapproval
American Express
| Loan amount | $3,500-$50,000 |
| APR | 6.90%-19.99% |
| Max loan term | 60 months |
at MoneyLion
- Year Founded: 1850
- Company Headquarters: New York City, NY
- CEO: Stephen Squeri
Several lenders will allow you to prequalify for a loan to give you a sense as to whether you’re a good candidate. Prequalification is far from a formal approval.
American Express, on the other hand, proactively notifies you if you’re preapproved for its personal loan, offering up to $50,000 with up to a 60-month repayment term. When you’re preapproved by Amex, you’ll have the option to formally accept the offer after stipulating your desired borrowing amount and selecting from a list of available repayment terms.
A preapproval from Amex is still not a guarantee that you’ll get the loan—but as long as your credit profile hasn’t changed much since you received the offer (skyrocketing credit utilization, a missed credit card payment, etc.), you should be approved.
Best for low fees
Wells Fargo
| Loan amount | $3,000-$100,000 |
| APR | 6.74%-26.49% |
| Max loan term | 84 months |
at MoneyLion
- Year Founded: 1852
- Company Headquarters: San Francisco, CA
- CEO: Charles W. Scharf
Wells Fargo is one of the most fee-free lenders around, skipping the annoyance of origination fees, prepayment fees, closing fees, and other ancillary costs you’ll find with some other lenders. It also boasts a sub-7.00% APR for the most creditworthy borrowers. Those who have been a Wells Fargo customer for at least 12 months can borrow up to $100,000.
Best for large loans
BHG Money
| Max Loan amount | $250,000 |
| Min. APR | 8.72% |
| Max loan term | 120 months |
at MoneyLion
- Year Founded: 2001
- Company Headquarters: Fort Lauderdale, FL
- CEO: Albert Crawford
With little exception, popular lenders tend to cap their personal loan amounts at $100,000 or below. BHG Money touts loans up to $250,000, depending on what you plan to use it for. Rest assured that this high dollar amount is reserved for those with excellent credit, making BHG Money the go-to for the biggest loan. You’ll also get up to a generous 120 months to repay your loan—a likely necessity for those taking out massive loans.
Best for military members
Navy Federal Credit Union
| Max loan amount | $150,000 |
| Min. APR | 8.74% |
| Max loan term | 180 months |
- Year Founded: 1933
- Company Headquarters: Vienna, VA
- CEO: Dietrich Kuhlmann
Navy Federal is exclusively for active duty military, veterans, Department of Defense employees, and their immediate family members and household members. It delivers excellent loans as a way to give back to those in the armed forces.
Navy Federal isn’t the best at anything—but it offers well-rounded options. For example, those with excellent credit may be able to borrow up to $150,000 and opt for repayment terms up to 180 months.
What is a personal loan for excellent credit?
A personal loan for excellent credit is an installment loan targeted toward the most creditworthy borrowers. Note, the same loans may be available to those in other credit bands as well, such as borrowers with good and very good credit. However, those with excellent credit are likely to qualify for the very best terms a lender has to offer, such as the lowest interest rates.
Lenders look at your credit profile when deciding whether you’re a good candidate for their loan. Their risk-assessment of you will determine things like your interest rate and borrowing power. If you’ve got excellent credit, you’ll often qualify for the best a lender has to offer.
Whether you have “excellent” credit may depend on who you ask. The most common scoring system used by lenders is calculated by FICO—but some may use the also popular VantageScore. Because these entities use varying scoring methods, the difference in your credit score can sometimes vary by 100 points or more.
FICO generally considers the highest credit score tier to be 800 or above, while VantageScore’s highest tier is generally 781 and above.
All to say, consumers with excellent credit generally have their pick among lenders and loan terms. Just note that financial institutions look at more than just your credit when approving a loan. Things like debt-to-income ratio and employment history are critical considerations, too.
Pros and cons of personal loans for excellent credit
Pros
- Access to the best APRs on the market
- Access to the highest loan amounts
- Ancillary fees can sometimes be lower
Cons
- Not all lenders require excellent credit to get the best rates
- After formally applying, credit score will get dinged temporarily due to a hard credit inquiry
- The best rates and terms hinge on things like DTI and employment history (not solely on excellent credit) as well
How to qualify for a personal loan for excellent credit
To qualify for a personal loan, you must have—you guessed it—excellent credit. This means you’ll need to:
- Have an immaculate track record of on-time payments: Payment history accounts for 35% of your overall credit score. You won’t have good credit if you allow an account to become delinquent. Be sure to always make at least the minimum payment on your accounts each month.
- Maintain low credit utilization: If you’re using a large portion of your available credit, your credit score will drop. Experts recommend keeping your balances below 30% to avoid a big dip in your credit score.
- Own a lengthy average account age: Avoid opening and closing new accounts often. The longer your average age of credit history, the better.
Other factors dictate your credit score, but these are far and away the weightiest.
Again, your credit score is just one of several elements the lender will examine before it approves you. You’ll also often need to show reliable income through a stable job and a reasonable debt-to-income ratio (DTI) which tells the bank how much of your income is dedicated to making monthly loan payments. A good rule of thumb is a DTI of less than 36%.
Is a personal loan for excellent credit a good idea?
When you have excellent credit, a personal loan can be one of the easiest and cheapest ways to borrow money. But that doesn’t mean it’s a good idea. To quickly decide whether you should take out a loan, consider the following:
- Is your loan application driven by impatience? You shouldn’t open a personal loan to help you make a discretionary purchase. Things like a vacation or expensive jewelry are typically a bad use of a personal loan, as it enables you to overspend.
- Can you take on an additional monthly payment? If you’re considering a personal loan, you’re likely trying to fulfill a goal that will take years to pay off. Make sure you’re confident that your budget can handle another monthly payment for the foreseeable future.
- Is this something you can accomplish with a 0% intro APR credit card? If you’ve got excellent credit, you can likely qualify for a substantial credit card limit. Several credit cards offer periods of no interest on purchases and balance transfers for the first year or even nearly two after account opening. This could be a more cost-effective way to finance your purchase as long as you can pay it off before the intro period expires and the regular APR kicks in.
- Do you have a more important loan request in the near future? Applying for a personal loan can dramatically increase your debt-to-income ratio. And formally applying will result in a hard credit inquiry on your account which will temporarily drop your credit score by a few points. If in the near future you plan to apply for a mortgage or auto loan, it may be best to delay your application until afterwards. Better put, apply first for whichever loan is most important to you.
How to find the right personal loan for excellent credit
To pinpoint the personal loan that best fits your needs, consider the below details.
How much money do you need?
Each lender abides by its own unique loan caps. Figure out how much you need and focus on lenders that offer a sufficient amount of money. For example, if you’re trying to consolidate $60,000 in debt across multiple loans and credit cards, a lender that offers a maximum of $40,000 probably won’t solve your problem.
Alternatively, you may need funding for a project that takes place in phases—such as a home renovation. If you can stand to take out loans to incrementally achieve your goal, you’ll have a wider selection of lenders to choose from.
How much can you afford to repay each month?
You’ll know how much money you can afford to borrow by the proposed monthly payments offered by each lender. The longer your repayment term, the more affordable your monthly payment.
As an example, a $50,000 loan with a 9% APR would come with an approximate minimum monthly payment of:
- $1,543.85 for 36 months
- $990.06 for 60 months
- $754.63 for 84 months
In other words, a $50,000 loan may or may not be within your budget depending on the term length of your loan. The downside is that you’ll pay more interest the longer it takes you to pay it off.
What will it cost to borrow the money?
With excellent credit, you’ll likely receive favorable APR (below 8% in some cases). If the APR you’re offered is far above this with one or two lenders, it’s best to avoid them. This number determines just how much you’re paying the bank for the right to borrow money. Even a percentage point or two can mean the difference of thousands of dollars, depending on the size and repayment term of the loan.
Are there any “gotcha” fees?
APR is enough of a drag. But some lenders also charge arbitrary personal loan costs like early payment fees and origination fees—which can be thousands more dollars for sizable loans.
These costs (especially prepayment fees) are less common nowadays, so you shouldn’t have an issue steering clear of lenders that charge them.
Alternatives to personal loans for excellent credit
Those with excellent credit have plenty of ways to fund their goals. A personal loan may not be your best option. If you’re uncomfortable with asking family or friends for help, consider these popular personal loan alternatives.
Home equity loan
Homeowners can borrow from the equity they’ve built in their home throughout the years. Many lenders require that you keep 15% to 20% equity in your home, but those with excellent credit can often borrow the rest at a lower APR. And depending on the amount of equity you have, your borrowing power could be exponentially higher—even $750,000 or more, in some cases.
The big caveat is that a home equity loan uses your property as collateral. If you default on your home, the bank can take your house.
Low-APR credit card
Again, a credit card offering 0% intro APR for an extended period of time can be a great option for financing purchases that can be paid off within a year or two. If you can’t swing that short of a payment plan, it’s probably not a good idea; you’re certain to pay extremely high interest once that interest-free window closes.
Personal line of credit
Similar to a credit card, a line of credit allows you to borrow and repay the same borrowed money for years—until you enter into a “repayment” period, at which time you can no longer spend your loan and are obligated to repay it. A personal line of credit generally has interest rates far below a credit card, so it’s better for funding big purchases.
Our methodology
Fortune compared the top financial institutions offering personal loans to those with excellent credit. We’ve selected the best options for a handful of common financial goals and situations, ranking each lender according to the following attributes:
- Minimum loan amount (17%): Many financial institutions set a minimum amount you can borrow. We favored personal loans with lower minimum loan requirements.
- Maximum loan amount (18%): Your bank or credit union sets limits for how much you can borrow. We favored banks with higher maximum loan amounts.
- Minimum APR (13%): This is the lowest advertised rate by the lender. The APR you qualify for will depend on your unique financial profile.
- Maximum APR (17%): This is the highest advertised rate by the lender. The APR you qualify for will depend on your unique financial profile.
- Maximum loan term (20%): This is the longest repayment timeline the lender offers. We prioritized lenders that offer longer repayment terms.
- Origination or administrative fees (10%): Any financial institutions that charged for things like loan origination or account setup fees were docked points.
- Customer support (5%): Top picks offer customers various ways to get in contact: chat support, phone, and/or email.
This is the same methodology we implement to rank our best personal loans. However, this list is slightly different as it focuses exclusively on loans for those with excellent credit (800 and above, per FICO).
Frequently asked questions
What credit score do I need to qualify for the best personal loans for excellent credit?
To qualify for the best personal loans for excellent credit, your credit score should be 800 or above. This is how FICO defines an excellent credit score.
How much can I borrow with the best personal loans for excellent credit?
If you’ve got excellent credit, your credit shouldn’t hold you back from qualifying for a lender’s maximum loan amount. You may, however, be hampered by a high debt-to-income ratio, insufficient income, or spotty employment history.
Can I get same-day funding with the best personal loans for excellent credit?
Some lenders, such as Wells Fargo, advertise same-day funding. If you have excellent credit, you should be able to receive same-day funding with these lenders.
How does my debt-to-income ratio affect my chances of getting the best personal loans for excellent credit?
Your debt-to-income ratio (DTI) affects your chances of getting the best personal loans for excellent credit in a huge way. Your DTI helps the bank to understand if you can afford to take on another loan. Keep it as low as possible (below 36% is ideal) to give yourself the best chances of approval.
Do the best personal loans for excellent credit allow joint applications or co-borrowers?
Yes, the best personal loans for excellent credit give you the option to add a co-signer.