By Jozsef Huszar • Updated: October 24, 2026
Choosing a personal loan is mostly a math problem, and the answer changes fast once fees enter the picture. We checked seven lenders on October 24, 2026: SoFi, Discover, Upgrade, LendingClub (now Happen Bank), Best Egg, PNC and Avant. The numbers come from the lenders’ own pages or, where those stay silent, from clearly labeled reviewer reports. The result is a practical look at personal loan rates, origination fees and late-payment costs on one $20,000 example. If you want the basics first, read our guide to how personal loan APR works and come back.
Quick comparison
The table shows each lender’s published loan amount, APR and origination fee, copied from our research sheet. Every cell is a range because the lender sets your exact offer after reviewing your credit, income and loan term. Start with the APR column: the distance between the lowest and the highest APR matters more than the starting rate. The “Not specified” cell means the research sheet did not list a fee for that lender.
| Bank / Product | Loan Amount | APR Range | Origination Fee | FDIC Insured |
|---|---|---|---|---|
| SoFi – Personal Loan | $5,000-$100,000 | 6.49%–34.99% | 0%–7% | N/A |
| Discover Personal Loans | $2,500–$40,000 | 6.99%–24.99% | 0 | N/A |
| Upgrade – Personal Loan | $1,000–$50,000 | 7.74%–35.99% | 1.85%–9.99% | N/A |
| LendingClub – Personal Loan | $1,000–$75,000 | 5.96%–35.99% | 0%–8% | N/A |
| Best Egg – Personal Loan | $2,000-$50,000 | 6.99%–35.99% | 0.99%–9.99% | N/A |
| PNC – Personal Loan | $5,000–$35,000 | 6.99%–25.29% | Not specified | N/A |
| Avant – Personal Loan | $2,000-$35,000 | 9.95%-35.99% | Up to 9.99% origination fee | N/A |
LendingClub starts lowest at 5.96%, while Avant starts highest at 9.95%. Four lenders (Upgrade, LendingClub, Best Egg and Avant) top out at 35.99%, but Discover stops at 24.99% and PNC at 25.29%. Discover is also the only lender in the table with a stated origination fee of zero. Loan size separates the field too: SoFi lends up to $100,000, while PNC and Avant stop at $35,000.
How we chose and what protection applies
We included the seven lenders in our research sheet, a mix of online lenders and banks that publish rates and fees for unsecured personal loans. Personal loans are credit products, not deposits, so FDIC insurance does not apply to them. That is why the last column says N/A. The relevant protection for a borrower is the lender’s licensing and the loan agreement itself.
Banks still matter behind the scenes. SoFi’s disclosures mention loans originated by SoFi Bank, N.A. Upgrade says its loans are issued by bank partners. The LendingClub page now carries the Happen Bank, N.A. name and an FDIC membership notice for its deposit products. PNC lends directly as PNC Bank, National Association. We did not verify the partner banks of Best Egg and Avant, so check the legal entity named in your loan agreement. We did not rank lenders by marketing claims, service or speed; the only test was whether a number could be traced to a lender page or a labeled report. Our explainer on insured deposits versus loans covers the difference in detail.
What a typical loan profile looks like
To compare lenders fairly we used one example: you need $20,000 in cash, fixed rate, repaid over 60 months. That amount fits inside every lender’s range, from the highest minimum of $5,000 to the lowest maximum of $35,000. Sixty months is the only term all seven lenders offer, according to their published term ranges. SoFi, Upgrade and LendingClub list 24 to 84 months, Discover 36 to 84, Avant 24 to 60, Best Egg 36 or 60, and PNC 6 to 60 according to reviewers.
We ran the math at the lowest and the highest APR of each lender. The low end is what a borrower with excellent credit might see; the high end is closer to a fair-credit offer. Most of these lenders state that APR already includes the origination fee, so we did not add the fee a second time. The cost shown is everything you pay above the $20,000.
You can adjust the profile easily. The costs scale with the loan size, so a $10,000 loan costs roughly half of what we show. Keep in mind that lower ends are best cases. Best Egg’s own disclosure says its origination fee on terms of four years or longer is at least 4.99%, so its 0.99% fee start does not apply at 60 months.
What it costs (or earns) in real life
The table shows the monthly payment and the total cost of borrowing $20,000 over 60 months. Each cell is a range from the lender’s lowest to its highest APR, so every row has two scenarios in one line. Look first at the right-hand column, because it shows what the loan costs you in dollars after all payments are made.
| Lender | Monthly payment | Total cost over 60 months |
|---|---|---|
| SoFi | $391.23-$709.68 | $3,473.76-$22,580.68 |
| Discover | $395.93-$586.91 | $3,755.78-$15,214.55 |
| Upgrade | $403.04-$722.53 | $4,182.63-$23,351.81 |
| LendingClub | $386.28-$722.53 | $3,177.05-$23,351.81 |
| Best Egg | $395.93-$722.53 | $3,755.78-$23,351.81 |
| PNC | $395.93-$590.43 | $3,755.78-$15,425.90 |
| Avant | $424.45-$722.53 | $5,466.94-$23,351.81 |
The worst case is $23,351.81 in total cost at four lenders, which is more than the $20,000 you borrowed. Discover and PNC cap the same loan at $15,214.55 and $15,425.90, about $8,100 less. At the best case, LendingClub’s $3,177.05 is $2,289.89 below Avant’s $5,466.94. Inside one lender the spread is far larger: SoFi runs from $3,473.76 to $22,580.68. In practice, your credit profile moves the cost more than the choice of lender, so request quotes from several. The monthly payment tells the same story: it starts at $386.28 at LendingClub and climbs to $722.53, a difference of $336.25 every month.
Rates are only half the story. The next table shows what a missed due date can add.
What happens if you miss the conditions
Late fees differ more than most borrowers expect. The table assumes two late payments a year over the 60-month loan, which is ten late payments in total. Amounts and grace periods come from the lender where it publishes them and from reviewer reports where it does not; the last column tells you which. A “N/A” cell means no amount could be found.
| Lender | Late fee | Grace period | One late payment | Ten late payments | Source |
|---|---|---|---|---|---|
| SoFi | $0 | Not applicable | $0 | $0 | Lender page |
| Discover | $39 | None reported | $39 | $390 | Reviewers |
| Upgrade | $10 | 15 days | $10 | $100 | Reviewers |
| LendingClub | N/A | 15 days | N/A | N/A | Lender page (amount not published) |
| Best Egg | $15 | Not stated | $15 | $150 | Reviewers |
| PNC | N/A | Not stated | N/A | N/A | Not published |
| Avant | $25 | 10 days | $25 | $250 | Reviewers |
Ten late payments cost $390 at Discover, $250 at Avant, $150 at Best Egg and $100 at Upgrade, while SoFi’s own page says it charges no late fees. LendingClub confirms a 15-day grace period but publishes no fee amount, and PNC publishes none at all, so read the loan agreement before you sign. Discover’s reported $39 equals about 10% of its lowest monthly payment of $395.93. A late payment can also be reported to the credit bureaus, which can raise the rate on your next loan. Avant and Best Egg also charge $15 for a returned payment, according to reviewers.
One more condition is worth a number. SoFi advertises a 0.25 percentage point autopay discount. If its listed range includes that discount, losing it adds about $140.75 over 60 months at 6.49% and $192.23 at 34.99% on our $20,000 example.
Which one fits you
The right lender depends on your credit, your loan size and how reliably you pay. These are our reader types, based on the numbers above.
You have excellent credit and want the lowest cost
LendingClub has the lowest starting APR at 5.96%, which translates into a $3,177.05 total cost on our example, followed by SoFi at $3,473.76. Check the fee in your offer, because LendingClub’s origination fee can reach 8%. Even so, the three lowest starting APRs (LendingClub at 5.96%, SoFi at 6.49% and Discover at 6.99%) sit within about one point of each other, and their low-end costs differ by only $578.73. Compare actual offers rather than headline rates.
You want predictable fees and a lower ceiling
Discover has a stated zero origination fee and a worst case of $15,214.55, compared with $23,351.81 at four other lenders. Its reported $39 late fee means you should set up autopay. Elsewhere, origination fees run up to 9.99% at Upgrade, Best Egg and Avant, which is up to $1,998 on a $20,000 loan. PNC is similar at $15,425.90, but check its fee terms first.
You might occasionally pay late
SoFi is the only lender in our table that says it charges no late fee, which makes it the safest choice if your income timing is uneven. Upgrade’s reported $10 fee after a 15-day grace period is the cheapest alternative.
You need more than $50,000
Only SoFi, with up to $100,000, and LendingClub, with up to $75,000, go past $50,000 in our table. Everyone else tops out at $50,000 or less. At that size a small rate difference becomes a large dollar difference, so request offers from both before you commit.
The bottom line: lowest cost goes to LendingClub and SoFi for strong credit, Discover and PNC cap the downside, and SoFi is the most forgiving on late payments. This is general information, not personalized financial advice.
What we did not cover
We left out promotions, relationship discounts and member benefits, such as PNC’s rate adjustments for existing customers. We also skipped secured loans, co-signers, funding speed, state availability and terms other than 60 months. Lenders that are not in our research sheet are excluded, so this is a comparison of seven options, not of the whole market. Origination fees appear only through the APR, not as a separate dollar figure. Credit-score requirements also differ, and we did not rank lenders by approval odds.
Frequently Asked Questions
Yes, at most of these lenders the fee is deducted from your loan proceeds before the money reaches your account. You still repay the full approved amount. If you need exactly $20,000 in cash, ask for a larger loan so the amount left after the fee covers your need. The advertised range shows the lowest and the highest rate a lender might give. Your offer depends on credit history, income, existing debt, loan amount and term. Most borrowers land somewhere between the two ends, so treat the lowest number as a best case, not a promise. Many online lenders show estimated offers with a soft credit check, which does not affect your score. A hard inquiry usually happens when you accept an offer and submit a full application. Policies differ by lender, so confirm which type of check applies before you enter your Social Security number. Lender pages and reviewer summaries for these seven lenders do not describe prepayment penalties, and LendingClub states that early payoff carries no extra charges. Paying early cuts your interest cost. Still, read the prepayment clause in your own loan agreement before signing, because terms can vary by state. Contact the lender before the due date, not after. Ask about a payment date change, a short extension or hardship options. Some lenders have a grace period, but a payment that stays unpaid can still trigger fees and credit reporting, so an early call is usually cheaper than silence.Is the origination fee taken out of the money I receive?
Why is my offered APR different from the advertised range?
Will checking my rate hurt my credit score?
Can I pay off a personal loan early without a penalty?
What should I do if I know I will miss a payment?
Methodology and last update
We checked loan amounts, APR ranges and fees on October 24, 2026, using the lenders’ own rate and fee pages. Where a lender did not publish a figure, we used labeled reviewer reports or marked the cell missing. Payments and total costs come from the standard amortized-loan formula applied to each lender’s lowest and highest APR. Rates and fees change often, so we review this page monthly. Your own offer can fall anywhere inside these ranges, so confirm it with the lender; this article is general information only.