Top Personal Loans for 720 Credit Score

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LI
LightStream
Min. Credit Score: 660+
Lowest Rates
APR Range
7.49%–25.49%
Loan Amount
$5K–$100K

Best rates for 720+ borrowers. Rate Beat Program. No fees. Same-day funding.

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SO
SoFi Personal Loan
Min. Credit Score: 680+
Highest-Rated Overall — Based on WiseIQ's Methodology
APR Range
8.99%–29.49%
Loan Amount
$5K–$100K

No fees, unemployment protection, up to $100K. Excellent for 720+ borrowers.

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MA
Marcus by Goldman Sachs
Min. Credit Score: 660+
No Fees
APR Range
6.99%–24.99%
Loan Amount
$3.5K–$40K

Goldman Sachs consumer brand. Zero fees. Fixed rates. Rates start at 6.99%.

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What to Know About Personal Loans with a 720 Score

Your credit score is one of the most important factors lenders use to determine your interest rate and loan amount. A 720 score (Very Good Credit) means you have a strong credit history that qualifies you for competitive rates. Understanding where you stand helps you target the right lenders and negotiate better terms.

When comparing personal loans, focus on the Annual Percentage Rate (APR) rather than just the interest rate. The APR includes all fees and gives you the true cost of borrowing. Also compare loan amounts, repayment terms, and whether the lender charges origination fees, prepayment penalties, or late fees.

How to Get the Best Rate with a 720 Score

Even with a 720 credit score, there are several strategies to improve your offered rate. First, always pre-qualify with multiple lenders before accepting any offer — this uses a soft credit pull that doesn't affect your score, and comparing offers takes less than 10 minutes. Second, consider the loan term carefully: shorter terms typically come with lower interest rates, though monthly payments will be higher. Third, if you have a trusted family member or friend with excellent credit, adding them as a co-signer can significantly lower your rate.

Reducing your debt-to-income ratio before applying is another powerful lever. Lenders look at how much of your monthly income goes toward debt payments — a ratio below 35% is generally considered favorable. Paying down existing credit card balances before applying can improve both your credit score and your debt-to-income ratio simultaneously.

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Frequently Asked Questions

What is the best personal loan for a 720 credit score?
LightStream is our top pick for 720+ borrowers — it offers the lowest rates in the market (per LightStream) with a Rate Beat Program. SoFi is a close second with better member benefits.
Can I get a personal loan rate below 10% with a 720 score?
Yes. LightStream rates start at 7.49% and Marcus starts at 6.99% for the most qualified applicants. A 720 score with strong income and low debt-to-income ratio can qualify for sub-10% rates.
Should I choose a fixed or variable rate personal loan?
Fixed rates are almost always better for personal loans. They protect you from rate increases and make budgeting predictable. All top lenders for 720+ scores offer fixed rates.
Editorial Disclosure: WiseIQ's editorial team independently researches and recommends financial products. We may earn a commission when you apply through our links. This does not influence our recommendations. Rates and terms are subject to change — verify current information on the lender's website before applying.