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Our Rating: 92.0%

★★★★★
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LightStream Personal Loan Review

Loan Amount:
$5,000 - $100,000
Minimum Credit Score:
660
APR IconAn illustrated APR Icon.
APRs From:
3.49% - 19.99%
Funding Speed:
As soon as same day

Features of LightStream Personal Loans

Pros

  • Competitive rates
  • No fees
  • Rate discount when you enroll in autopay
  • Satisfaction guarantee and rate beat program

Cons

  • No prequalification option (have to endure a hard credit check to see rates)
  • Requires a well-built credit history

About LightStream Personal Loans

Lightstream personal loans feature high borrowing amounts and competitive rates. There is no origination fee on their personal loans, they are willing to beat competitors’ rates by 0.1 percent and they are even willing to send you $100 if you're unsatisfied with the loan process. Lightstream is ideal for borrowers with a solid credit history and plenty of assets. LightStream is the online lending division of Trust (formerly SunTrust Bank).
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6.95% - 35.99%
Est. APR
5.99% - 24.99%
Est. APR
3.49% - 19.99%
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7.24% - 17.65%
Loan Amount
$5,000 - $100,000
Loan Amount
$2,000 - $40,000
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$35,000 - $5,000
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$2,000 - $35,000
Loan Terms
3-5 Years
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2-5 Years
Loan Terms
2-7 Years
Loan Terms
1/2-4 Years
Min. Credit Score
660
Min. Credit Score
640
Min. Credit Score
640
Min. Credit Score
640

LightStream Personal Loan Snapshot

Loan Amount:

$5,000 - $100,000

APR:

3.49% to 19.99%

Minimum Credit Score:

660

Time to Funding:

As soon as same day

Has Origination Fee:

No

Origination Fee: Not Applicable

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Pros and cons of LightStream Personal Loans

Before signing up for a loan with LightStream, take a look at this breakdown of some of its benefits and drawbacks.

Pros:

Competitive rates: With rates starting at just 3.49 percent, Lightstream offers highly competitive rates. Your rates will differ depending on the loan purpose, amount, term length, and your credit.

No fees: LightStream doesn’t charge any fees on its loans including an origination fee.

autopay discount: Borrowers who enroll in auto payments will receive a 0.5 percent discount

Rate beat program: If you find a competitor offering you a more competitive interest rate, Lightstream will beat that competitor by .10 percent. In order to qualify, you must show you are approved by the competitor for an unsecured, fixed-rate loan with the same amount, terms, purpose, and payment method.

Satisfaction guarantee: LightStream offers $100 to unhappy borrowers who have had their loan for less than 30 days. In order to qualify, you must contact the company and fill out a questionnaire.

Cons:

No prequalification option: Lightstream conducts a hard credit pull on applications submitted via their website, which may negatively affect applicants' credit scores. However, the LightStream conducts a soft credit check to pre-qualify applicants through rate comparison sites.

Requires a long credit history: Typical consumers who qualify with LightStream will have several years of credit history across different account types. These types of credit include major credit cards, auto loans, and home mortgages.

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Loan Terms

To determine eligibility LightStream considers multiple factors including:

  • Your credit score and credit history.
  • Your requested loan amount.
  • Your requested loan purpose.
  • The repayment term (two to 12 years, depending on the loan purpose).
  • Your available assets.
  • Your payment record on all loans and credit cards.

Fees and penalties

LightStream personal loans are 100% fee-free. They charge no origination fees, prepayment penalties, or late fees.

How to get a Personal Loan with LightStream

Youll need the following ready when applying with LighStream:

  • Loan amount, purpose, and desired terms.
  • Your payment method.
  • Personal info (address, phone number, email address, and SS number).
  • Employment information.
  • Current monthly housing obligations.

After submitting an application, LightStream will review it, conduct a hard credit pull then email you with the status of your application. If you qualify, you can sign your loan agreement and set up your funding date and payment information online.

After final approval, Lightstream will disburse funds to your account. This process can happen in as little as the same day as application as long as your application is verified and approved before 2:30 p.m. Eastern on a business day.

Lightstreams customer service representatives are available Monday through Friday from 9 a.m. to 8 p.m. and Saturday from noon to 7 p.m.