If you’re looking for a personal loan that has low interest rates but offers high loan amounts, look no further than Lightstream. This personal loan lender offers loans with no fees and competitive rates for just about any reason, as long as you have good credit.

Lightstream offers a streamlined loan process that makes it easy to get the funds you need fast. They may even fund your loan on the same business day in some cases. They work fast, have exceptional customer service, and offer a variety of terms.

Check out how Lightstream stacks up to see if it would be a good option for your personal loan needs.


Lightstream is an affiliate of Truist Bank. It’s the online version of SunTrust Bank, which many people know well. Lightstream offers many benefits, but most notably are their policy for no fees for online loans and the large loan amounts they offer, based on your credit score. It takes just minutes to apply for a loan on their website; making it easy to get the funds you need fast.

Lightstream is flexible in its underwriting and charges its APRs according to your risk level. If you are a ‘risky’ borrower, you’ll pay a higher interest rate, but you won’t pay any fees as they don’t charge fees on any loan, not even prepayment penalties.

Loan Amount

Lightstream offers loan amounts starting at just $5,000. If you just need a small amount to get you by, you’ll get some of the lowest interest rates and shortest terms, allowing you to pay the loan back quickly and with little interest.

If your loan needs are greater, Lightstream offers loan amounts up to $100,000. Of course, you must prove that you qualify for a high loan amount by proving that you have the minimum credit score and maximum debt ratio allowed. You may also borrow any amount in between $5,000 - $100,000.


The APR Lightstream offers depends on several factors:

  • The loan amount

  • The term

  • Your credit score

Lightstream displays its current APR ranges right on their website. They are completely transparent with their rates, letting you know upfront what you may expect. Their interest rate chart breaks the rates down by loan amount range and term, but they start at 3.99% and go up to 19.99%.

The lowest interest rates are reserved for borrowers with great credit, low loan amounts, and short terms, but with a maximum rate of 19.99%, Lightstream beats many of its competitors.

Minimum credit score

In most cases, Lightstream requires a credit score of at least 660 to qualify for one of its personal loans. Lightstream offers its best interest rates for borrowers that have credit scores much higher than 660, though, so it pays to work on your credit score before you apply for a loan.

In addition to the minimum credit score, Lightstream looks for:

  • At least a few years of good credit history (typically at least five years)

  • Your credit history includes a variety of accounts, including revolving and installment or housing loans

  • You have very few, if any late payments

Lightstream also prefers that you show the ability to save money, by having an emergency account or liquid reserves on hand.

Loan Terms

Lightstream offers loan terms from 24 – 84 months for loan amounts up to $24,999. If you borrow more than $25,000, you can stretch the term out up to 144 months. LightStream only allows terms of greater than 84 months in the Boat/RV & Home Improvement purposes, which go to 144 months.Just remember, if you do borrow the money for that long, it increases the total cost of interest that you pay to borrow the money.

Pros & Cons

Lightstream personal loans, like any personal loan, has its pros and cons. Understanding the ups and downs of the loan can help you figure out if it’s the right option for you.

  • The loan process is quick and easy. It only takes a few minutes to complete the application and you have your answer within minutes. If you do qualify, you can have your funds as soon as the same day, in some cases, or at least by the next business day.
  • Lightstream doesn’t charge any prepayment penalties or origination fees. You receive the full amount of your loan amount in your bank account when they fund your loan.
  • You can save 0.5% on your APR if you opt into autopay, letting the lender take your payment from your linked bank account each month.
  • You can choose a loan term as long as 144 months (12 years) if you borrow more than $24,999. Just keep in mind how much you’ll pay in interest.
  • You can borrow up to $100,000, which is a large amount for a personal loan and more than most lenders allow.
  • Lightstream’s Rate Beat Program guarantees that Lightstream will offer a rate 0.10 percent less than the competing lender offers if you can provide the lender’s approval and the loan has the same terms as Lightstream offered you.
  • Lightstream doesn’t offer the option of a soft credit pull to check what offers you might receive. If you apply for a Lightstream loan, they will automatically pull your credit, leaving an inquiry on your credit report whether you take the loan or not.
  • Most Lightstream borrowers have several years of credit history (good credit history). If your credit is newly established, you may have a hard time getting approved.
  • The minimum loan amount is a bit high. If you are looking for a quick loan to help with a small emergency, but don’t quite need $5,000, you may need to look elsewhere.


It’s fairly easy to apply for a Lightstream loan. The process is completed online since Lightstream doesn’t have any physical branches. Once you complete the application, Lightstream pulls your credit, which again, is a hard inquiry (your credit score may fall five points or so).

You’ll answer some simple questions, such as how much money you need to borrow, how long you want to borrow the funds, and why you want it. You’ll then supply your personal and financial information in order to obtain a decision.

It typically takes only a short time to get a response. Once you accept the offer, you provide any documentation Lightstream requires and sign the loan documents. If you complete the process by 2:30 PM EST, you may receive your funds that same day. If not, you’ll receive them on the next business day.

Can you Apply if you have Bad Credit?

If you have a ‘bad’ credit score, you may have a harder time qualifying for a loan with Lightstream. Depending on your credit score and credit history, you may get approved, but with a lower loan amount and higher APR.

If you do have a lower credit score than 660, it’s best if you have to compensate factors to make up for the risk. Compensating factors include a low debt ratio, high cash flow, or plenty of assets on hand to back you up if your income should stop. If you do have bad credit, make sure you compare the options offered by Lightstream with other lenders as well to make sure you get the loan with the lowest APR and most attractive terms.

Main Loan Features

Lightstream offers many attractive features including:

  • APRs ranging from 3.99% - 15.49%

  • No upfront fees

  • No prepayment penalty

  • Terms up to 12 years

  • 0.5% autopay discount

Rates & Fees

Lightstream is one of the few lenders that doesn’t charge any fees for its personal loan. This includes upfront fees to get the loan as well as prepayment penalties if you pay the loan off in full before the loan term is over.

The rates start at a low 3.99% but are reserved for the best credit customers with the lowest loan amounts. The rates continually climb for borrowers with lower credit scores, higher loan amounts, or longer terms. In other words, the more money you borrow or the longer you borrow the money, the more it will cost you. The lender needs to make up for the risk of default that longer term or larger loans pose.

Loan Process

The Lightstream loan process is easy and one of the fastest ones around. Just remember that once you apply for a Lightstream loan, they pull your credit. Most lenders give you the option of seeing the rates you qualify for without pulling your credit, but Lightstream doesn’t offer that option.

Once you apply for the loan, the process goes quickly. You will receive an answer, typically on the same day that you apply. If you’re approved, Lightstream will provide you with the necessary paperwork, all online. The entire process takes place on e-documents. Once you sign the approval, you accept the loan and it funds. It will either fund on the same business day or the next, depending on the time of day that you receive your approval.

Lightstream will deposit the loan funds directly in your linked account, whether it’s a savings or checking account. They will direct deposit the funds into your account, so that you have them within a day or two of applying for the loan. The funds are then yours to use as you see fit.

Customer Support

Lightstream prides itself on its top notch customer service. Representatives are available Monday – Friday from 10am – 8pm Eastern and Saturday from 12pm – 4pm Eastern. Application processing occurs Monday – Friday from 10am – 6pm Eastern and Saturday & Sunday from 1pm – 6pm Eastern.

Lightstream also offers a Loan Experience Guarantee. This guarantee ensures that you are 100% satisfied with your experience with Lightstream. If you are unsatisfied, you must contact them within 30 days of the loan funding. They will send you a questionnaire that asks questions about your service so that they can improve their service. If you complete the questionnaire they will send you $100.

Bottom Line

If you have good credit, Lightstream may be a great option for your personal loan. They mostly focus on your credit score and credit history, allowing them to fund loans fast for their customers. As long as you know that you have decent credit, it’s acceptable to apply directly through Lightstream. Just know that they’ll pull your credit right away – it’s not a soft pull, so it affects your credit score. Make sure that you know that you’ll be able to qualify for the loan based on your credit score before applying to avoid causing damage to your credit score without knowing if you’ll qualify.

Advertising Disclosure

The information shared through this website is based on our team’s personal judgements and views. We use our own comparisons to assign values, which are not intended to reflect a certain benchmark of precision. To keep our website free for use, we accept referral fees from various service providers, which have the potential to influence their respective appointed scores. A third party’s participation on toploansadviser.com is not an indication of endorsement. The information and vendors which appear on this site is subject to change at any time.The site does not include all companies offering loan products or all available loan offers.

Sidney Keith

Sidney Keith

Sidney Keith graduated in economics major from Stanford University. He publishes many popular articles about economic knowledge in his school life. Now he works in bank and writes different types financial articles in his website.

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