No. LightStream provides top-of-the-line loan services and understands that a loan is supposed to help you financially. Therefore, there are no origination fees, no late payment fees and penalties, and you can settle your full balance anytime without worrying about a prepayment penalty.

LightStream does not offer pre-qualification for their personal loans. They also don’t offer loan applications via phone, email or fax. If you want to borrow from them, you’ll have to fill out and submit a formal loan request on their website. Keep in mind that even if you are approved for a loan, you are under no obligation to accept the offer.

LightStream offers fixed interest rates starting at 5.99% for customers with excellent credit, and going up to 23.99%. You can also get a discount if you set up your payments with autopay. Fixed rates allow you a better repayment plan because you know exactly how much you owe every month. It also prevents a rate increase for the life of the loan.