Finding a personal loan in New York has never been easier. Whether you're in New York City, Buffalo, Rochester or anywhere across New York, you can compare rates from 7.00%–25.00% APR across top US lenders — completely free with no credit score impact.
| Lender | APR Range | Loan Amount | Min. Credit | Available in NY |
|---|---|---|---|---|
| 🏆 SoFi Best APR | 8.99%–29.99% | $5K–$100K | 680+ | ✅ Yes |
| Marcus by Goldman | 6.99%–24.99% | $3.5K–$40K | 660+ | ✅ Yes |
| ⭐ LightStream Best for Good Credit | 7.49%–25.99% | $5K–$100K | 660+ | ✅ Yes |
| Upstart | 7.80%–35.99% | $1K–$50K | 300+ | ✅ Yes |
| Avant | 9.95%–35.99% | $2K–$35K | 580+ | ✅ Yes |
| LendingClub | 9.57%–35.99% | $1K–$40K | 600+ | ✅ Yes |
New York caps interest at 25% APR; payday loans are banned.
We analyze APR, fees, loan amounts, and availability specifically for New York residents. All comparisons are updated monthly.
Browsing and comparing options on TrueRateGuide does not impact your credit score. We use soft pulls only during pre-qualification.
Our comparison service is always free for New York consumers. We earn referral fees from providers — you pay nothing.
Our New York data is refreshed every month to reflect current rates, offers, and lender availability in your state.
New York has some of the strictest usury laws in the United States, administered by the New York Department of Financial Services (NYDFS). The civil usury cap is 16% APR on most loans, and charging above 25% APR constitutes criminal usury under state law. The New York Licensed Lender Law requires any lender making a loan of less than $25,000 at an interest rate above 16% to hold a state lender license. This rule applies to online and out-of-state lenders soliciting New York residents, and NYDFS has taken enforcement action against fintech partnerships that attempt to avoid state limits.
Borrowers in New York are also protected by strong disclosure rules, including the federal Truth in Lending Act and New York-specific plain-language loan contract rules. If you believe a lender has charged usurious interest, failed to properly disclose fees, or operated without a required NYDFS license, you can file a consumer complaint with NYDFS online or by phone at (800) 342-3736. NYDFS publishes a searchable list of licensed lenders so New York residents can verify authorization before entering any loan agreement.
Personal loan rates in New York typically range from 7.00%–25.00% APR depending on your credit score and loan amount. Borrowers with excellent credit (720+) qualify for the lowest rates.
New York caps interest at 25% APR; payday loans are banned.
Most lenders in New York require a minimum credit score of 580–660 for personal loans. Some lenders like Upstart accept scores as low as 300. A higher score (720+) will get you the best rates.
Most online lenders approve personal loan applications in New York within 1 business day. Funds are typically deposited in 1–3 business days after approval.
Yes. Under New York's Licensed Lender Law, any lender making a loan of less than $25,000 at more than 16% APR to a New York resident must hold a license from the New York Department of Financial Services (NYDFS). This rule applies to online lenders and out-of-state lenders marketing to New York residents. NYDFS aggressively enforces this requirement against unlicensed fintech and bank partnership arrangements. Verify licensure through the NYDFS website and report suspected violations at (800) 342-3736.