FreedomPlus Personal Loans Review 2021 – Forbes Advisor

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The best personal loans offer competitive rates, flexible loan amounts, and a wide range of terms. Here’s how FreedomPlus personal loans compare to other popular lenders:

FreedomPlus vs. SoFi

SoFi personal loans start at $ 5,000 and range up to $ 100,000 depending on the purpose of the loan, which makes them much more flexible than loans available through FreedomPlus. And while SoFi APRs (around 6% with Autopay) start near the minimum rates available through FreedomPlus, they only reach around 20% with Autopay – around 10 points lower than FreedomPlus’ maximum APRs. SoFi does not charge any commitment fees either, which makes it different from FreedomPlus’ more expensive loans.

Related: SoFi Personal Loan Review

FreedomPlus vs. LightStream

LightStream personal loans range from $ 5,000 to $ 100,000 – double that available through FreedomPlus – depending on the purpose of the loan. Additionally, LightStream’s APR starts at under 3% with autopay for certain loan purposes and only increases to around 20%. For these reasons, LightStream is the more flexible and affordable option for qualified borrowers who want access to large loans at competitive rates.

As with FreedomPlus, LightStream loan terms start at just two years, but can range up to 12 years depending on the loan size, purpose and creditworthiness of the borrower. In addition, LightStream does not charge any deployment fees, which further increases the savings over FreedomPlus’ personal loan.

Related: LightStream Personal Loan Review

FreedomPlus vs. Update

Upgrade offers borrowers personal loans with a minimum credit score of just 580, even below the minimum required by FreedomPlus. Additionally, Upgrade offers the same maximum loan amount as FreedomPlus – $ 50,000 – and borrowers can access minimum loan amounts as low as $ 1,000 and repayment terms of up to seven years.

Nevertheless, Upgrade charges commitment fees between 2.9% and 8% of the loan amount (higher than those imposed by FreedomPlus) and maximum APR of 36% (about six points higher than the maximum APR of FreedomPlus).

Related: Upgrade personal loan verification


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