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Loans By Smartphones Rate In New Provider Ranking Of Personal Loan Apps

When applying for a personal loan, we like the process to be brief, efficient, no suspense.

In that spirit we proffer the latest PYMNTS Provider Ranking of Personal Loan Apps, which gives an excellent vantage on this space at a glance, in part because so few apps make the cut.

The Top 5

When last we checked in on personal loan apps, a catlike icon sat at the very top. It’s MoneyLion, still at No. 1, as more Americans consider long-term investing. No change at No. 2 either as the SoFi app maintains its position amid talk of an impending IPO.

Our first changeup is the Avant loan marketplace app climbing one spot to grab No. 3, pushing power player LendingTree down one to No. 4. Closing out the Top 5 this time out is the consumer credit platform app UpGrade, still chill at No. 5.

The Top 10

For this particular Provider Ranking, there aren’t enough apps to fill out our Top 10, but here goes. Which is to say “here goes almost nothing” as apps are holding their hard-won ground.

At No. 6 this month is the Flexwage app for early access to earned wages, followed at No. 7 by India’s powerful PaySense app, with the peer-to-peer borrowing app from mighty LendingClub holding at No. 8, having experienced a big bounce back in loan originations in second-half 2020.

That does it for this edition of PYMNTS latest Provider Ranking of Personal Loan Apps.

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