5 personal loans with no hidden fees and low interest rates, for when you need a little extra cash flow

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• Personal loans offer a predictable way to borrow money since they come with a fixed interest rate, fixed monthly payment, and set repayment schedule.
• While debt consolidation is one of the most popular uses for personal loans, consumers also use them for home repairs, medical bills, and emergency expenses.
• When applying for a personal loan, you should keep your eye out for origination fees and hidden fees. The lenders on this list offer affordable personal loans with no fees, but you'll need good or great credit to qualify.
• Apply for a SoFi personal loan today and get an APR as low as 5.99% »

While nobody ever wants to borrow money, there may be times when doing so can make sense. Perhaps you have high-interest credit-card debt you desperately need to consolidate at a lower interest rate. Or maybe you have medical bills that can't be covered with your emergency fund - or a leaky roof that needs to be repaired before it causes more damage than it already has.

Many consumers turn to credit cards in cases like these, partly for convenience but also because some offer 0% APR for a limited time on balance transfers, purchases, or both. But another option that has grown in popularity is personal loans.

With a personal loan, you may be able to secure a fixed interest rate as low as 4%. Personal loans also come with a fixed repayment schedule and fixed monthly payment that will never change. This is attractive because it makes them predictable and easy to plan for.

The only catch? You may have to pay an origination fee, an amount charged by a lender to cover the processing costs of the loan. The good news is there are great personal-loan options available for those with good or great credit - keep scrolling for five of the best offers available in 2019.

The best personal loans with no origination fees in 2019

If your goal is applying for a personal loan, you should strive to get the lowest interest rate you possibly can. Also, keep your eye out for fees including:

• Application fees
• Prepayment penalties
• Origination fees (can be up to 8% of your loan amount)

Ideally, you will find a personal loan with no origination fee and no hidden fees. Here are the best options to consider this year:

1. LightStream

LightStream offers personal loans that can be used for nearly any reason, ranging from home-remodeling projects to debt consolidation or medical bills.

You may be able to borrow up to $100,000 and repay your loan over up to 144 months. Better yet, you can apply online and receive your funds as soon as the same business day.

• Fixed APRs as low as 3.99% with autopay.
• No origination fee or hidden fees.
• No penalty for paying your loan off early.
• Good or great credit required, which typically means a FICO score of 740 or above.

2. Marcus by Goldman Sachs

Marcus by Goldman Sachs is another lender that offers personal loans. Borrow up to $40,000 for major purchases, home improvements, or debt consolidation and repay it with a timeline and monthly payment you can afford.

Like other lenders on this list, Marcus by Goldman Sachs makes it easy to apply for a loan online. You can also receive your funds via direct bank transfer within a few business days.

• Fixed APRs as low as 5.99%.
• No origination fees or hidden fees.
• No penalty for paying your loan off early.
• Good or great credit required, which typically means a FICO score of 740 or above.

3. Earnest

Earnest offers student-loan refinancing and personal loans that can be used in a variety of ways. Personal loans are available in amounts up to $75,000, and you can tailor your monthly payment to your needs. You can apply online and receive a decision in a matter of minutes.

• Fixed APRs as low as 6.99%.
• No origination fees or hidden fees.
• No penalty for paying your loan off early.
• Earnest considers factors other than your credit score for approval, including your savings habits, earning potential, and education.

4. Discover 

You can borrow up to $35,000 with a Discover loan and repay your balance in anywhere from 34 to 84 months. Interest rates are fixed, so you'll never be surprised by your payment or debt-free date.

• Fixed APRs as low as 6.99%.
• No origination fees.
• No hidden fees, including prepayment penalties.
• Good or great credit required, which typically means a FICO score of 740 or above.

5. SoFi

While SoFi is mainly known for student-loan refinancing, it also offers high-quality personal loans. You can borrow up to $100,000 and repay it over two to seven years.

You can also apply and get approved entirely online, and SoFi offers unemployment protection that can temporarily pause your monthly payments if you lose your job.

• Fixed APRs as low as 5.99% with autopay.
• No origination fees or hidden fees.
• No prepayment penalty.
• Get pre-qualified online without a hard inquiry on your credit report.
• Good or great credit required, which typically means a FICO score of 740 or above.

Ready to apply for a SoFi personal loan? Find your rate online in minutes »

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