Best Personal Loans With No Origination Fee in 2025
Skip origination fees with these lenders
| Lender | User rating | Best for | APR | Term | Amount | |
|---|---|---|---|---|---|---|
|
No-fee loans for superior borrower experience | 7.99% – 24.99% | 36 to 84 months |
$2.5k – $40k |
||
|
No-fee loans for doctors, dentists and residents | 8.99% – 35.49% | 24 to 84 months |
$5k – $100k |
No-fee personal loan lenders at a glance
Best for: No-fee loans for superior borrower experience – Discover
The APR ranges from 7.99% to 24.99% APR based on creditworthiness at time of application. Loans up to $35,000. Fast & Easy Process. Terms are 36 to 84 months. No prepayment penalty. This is not a firm offer of credit. Any results displayed are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For example, for a $15,000 loan with an APR of 10.99% and 60 month term, the estimated monthly payment would be $326. The estimated total cost of the loan in this example would be $19,560.
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- Repayment options in case you have trouble making payments
- Customer service available seven days a week
- Can pay creditors directly
- See rates without affecting credit
- Highest credit score requirement on our list ()
- Can’t apply for a loan with another person
LendingTree users have given Discover personal loans a nearly perfect customer satisfaction score, with 4.9 stars out of 5. Furthermore, Discover has three repayment assistance options, which might come in handy in case of financial hardship. Its customer service department is also open seven days a week.
Discover personal loans come with no fees.
You’ll need to meet these eligibility criteria to get a Discover loan:
- Age: Be at least 18
- Citizenship: Have a Social Security number
- Administrative: Have a physical address, email address and internet access
- Income: Minimum income of $40,000 (individually or as a household)
- Credit score: +
Best for: No-fee loans for doctors, dentists and residents – Laurel Road
The following payment example depicts the APR, monthly payment and total payments made during the life of a personal loan with a single disbursement. All loan rates below are shown with the autopay discount (0.25%) and direct deposit discount (0.25%). The monthly payment for a $30,000 loan with a 60-month term and a fixed annual percentage rate (APR) between 12.95% – 25.03% would be $681.82 – $881.07 in monthly payments, with total payments between $40,909.47 – $52,864.05. Your actual interest rate may be different than the loan interest rates in these examples and will be based on term of loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Lowest rates reserved for the most creditworthy borrowers. See SoFi.com/eligibility for details. Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000- $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
- Available to anyone, but doctors, dentists and residents can get more money, longer terms and lower rates than the ones listed here
- 0.25% discount for signing up for autopay
- See rates without impacting credit
- Charges late fees
- Doesn’t specify minimum credit score
- Not good for very small loans
All SoFi personal loans come with low starting rates and competitive terms, but this online bank offers even better rates and terms for doctors and dentists. The rates and terms listed here are available to everyone, but eligible medical professionals may qualify for even lower rates. This can come in handy when you’re starting your practice.
You’ll need to look elsewhere for a small loan, since SoFi requires that you take out at least $5,000. Like most other lenders, SoFi does charge a late fee, so make sure to stay on top of your payments.
SoFi doesn’t provide much insight into how it evaluates personal loan applications, but you must be at least the age of majority in your state (typically 18 or 19).
While SoFi doesn’t specify a minimum credit score, it does state that it offers low rates because it works with creditworthy borrowers. The lender may assess this creditworthiness by evaluating your debt-to-income ratio, employment, income and credit history.
What is a loan origination fee?
A personal loan provides a lump sum of funds that you can use for almost anything. Some lenders will charge an origination fee during the process.
Generally, an origination fee is a percentage of your total loan amount. Origination fees typically range from 1% to 6%, although some can exceed 10%. If your lender charges an origination fee, the lender will usually deduct the fee from your loan before it is sent to you.
While origination fees are referred to as “upfront fees,” you don’t typically have to pay them out of pocket before you get your loan.
How a loan origination fee works
Imagine that a lender approves you for a $50,000 personal loan that has a 5% origination fee. Your origination fee would be $2,500 (or 5% of $50,000). That means you will receive $47,500 (assuming your loan doesn’t have any other upfront fees).
Why do I have to pay an origination fee?
Lenders sometimes charge an origination fee to help cover the cost of providing a loan. For example, a lender might put your origination fee toward ordering your credit report or processing your loan application.
You might also have to pay an origination fee if you have bad credit. Lenders prefer to work with good-credit borrowers since they are more likely to make on-time payments.
Other personal loan fees
Origination fees aren’t the only ones associated with personal loans. On top of your APR (which measures the total cost of your loan, including your interest rate and fees), your loan may have:
Prepayment penalties
The longer your loan is active, the more you’ll pay in interest. For this reason, some lenders will charge a prepayment penalty, or a fee for paying your loan off before your term ends. Prepayment penalties aren’t common on personal loans, so if your loan offer has one, consider moving on to a different lender.
Late payment fees
A missed payment can drop your credit score by as much as 180 points, and your lender might charge a fee, too. Ask your lender about its late payment procedure and whether it offers a grace period before a fee applies.
How to avoid personal loan origination fees
Some lenders charge an origination fee on every loan. Others only charge loan processing fees to borrowers with poor credit.
The simplest way to avoid personal loan origination fees is to stick with no-fee lenders. Still, there are ways to avoid origination fees, even when the lender you’re targeting sometimes charges them.
Improve your credit score
Improving your credit score isn’t an overnight fix, but the effort is worth it. Having a good credit score can help you qualify for lower APRs, and lenders are less likely to charge origination fees to borrowers with good or excellent credit.
Apply with banks and credit unions
Bank loans and credit union loans usually come with lower APRs and no origination fees. They aren’t ideal for emergency loans, though, since banks and credit unions can take longer than online lenders to deposit your loan money.
Get a joint loan
Taking out a joint loan with a creditworthy family member or friend could help you qualify for a no-fee loan. Joint loans come with added risk. Both you and your co-borrower have equal responsibility (and access to the loan). If one of you makes a late payment, both of your credit scores will be affected.
How to find a no-fee personal loan with LendingTree
1. Check your credit
Borrowers with good or excellent credit are more likely to qualify for loans with no origination fees. You can check your score for free with LendingTree Spring.
2. Fill out a form
Answer a few questions about your identity and the type of loan you need, and we’ll do the loan shopping for you.
3. Review your offers
We’ll match you with up to five lenders from the nation’s largest network of lending partners. You can review your offers and choose the one that works best for you. Review personal loan statistics to see how your offer compares to others in your same credit bracket.
4. Get your money
You’ll submit a formal application with the lender you choose. Once you’re approved, it will send you the money, typically via direct deposit.
Frequently asked questions
The best origination fee for a personal loan is none at all. If you must pay an origination fee, aim for one between 1% and 5%. Borrowers with fair or bad credit will likely need to pay higher fees.
No. Even if you need a bad credit loan, steer clear of loans with upfront fees (aside from origination fees, which may be unavoidable). Other out-of-pocket fees are a common sign of predatory lending.
Maybe. Some lenders — , for instance — allow some borrowers to pay an origination fee in exchange for lower rates.
Our methodology
We reviewed more than 30 lenders to determine the overall best personal loans with no origination fee. To make our list, lenders must offer personal loans with no origination fee that also carry competitive APRs. From there, we prioritize lenders based on the following factors:
Accessibility: Lenders are ranked higher if their personal loans are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification and application processes.
Rates and terms. We prioritize lenders with more competitive fixed rates, fewer fees and greater options for repayment terms, loan amounts and APR discounts.
Repayment experience. For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, such as free wealth coaching.
According to our standardized rating and review process, the best personal loans with no origination fee come from Discover, Laurel Road, LightStream, PenFed Credit Union and SoFi.