Lightstream is an online lending platform that offers personal loans with low-interest rates. It has no fees for borrowers and provides loans to people with good to excellent credit. It has many consumer-friendly features. They allow borrowers to choose when to receive money in their account post-approval. It can deposit money as early as the same day and up to 30 days post-approval.
So borrowers can schedule the later or earlier fund deposit date, allowing them the flexibility to plan their first payment. It also gives the flexibility to use the loan accordingly for their project. They need a minimum credit score of 660 but with several years of credit history. The interest rate varies from 4.99 -19.99 % APR.
They provide loans with a minimum amount of $5000 and a maximum of up to $100000.The loan period is between 2 two and seven years. They allow 12 years for home improvement loans. Loans are available in all states of the US.
They also provide an additional option to the customer. If the customer can show the personal loan approved by their competitor, they will offer the customer loan from their end with a reduction of 0.10 percent in interest for the unsecured fixed rate loan with the same terms.
They also offer $100 back for unhappy customers who had their loan from them for less than 30 days. The customer has to contact the company and fill out their questionnaire to receive the $100. Light stream website will give the customer an online loan calculator which displays example rates based on the purpose of the loan and the desired loan amount. But they do not allow the applicants to pre-qualify directly from their website.
Applicants can improve their quality through the soft credit check done through NerdWallet. Lightstream will not send payments directly to creditors like the other lenders.
Applicants must allocate their loan funds to pay off creditors independently. Overall Light stream seems to be a good option for those who want a minimum of $5000 as a loan. A light stream is a good option for you if you have a good to excellent credit score.
