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LAST UPDATED: July 27th, 2023

LightStream, a division of SunTrust Bank, offers its customers highly competitive fixed-rate financing for a variety of needs, including credit card or debt consolidation from the convenience of a computer or mobile device.

LightStream advertises a hassle-free loan that rewards customers for their credit, providing same-day loan approval and funding. Thus, qualification requirements are strict and favor those with excellent credit, a solid credit history, and a low debt-to-income ratio. 

LightStream customer reviews are primarily 1-star, providing customer accounts of transparency issues and qualification difficulties, even with good credit.


Highlight: LightStream personal loan rates and terms

  • APR range — 2.49%–19.99% (with AutoPay discount)
  • Loan amounts — $5,000–$100,000
  • Loan terms — 24–144 months
  • Minimum credit score — 680

Keep reading for pros and cons, and LightStream reviews from real customers.

Top Ranked Companies


The Good

  • Flexible Loan Terms
  • High Max Loan Amount
  • Competitive Rates
  • Direct Lender
  • Quick Application Process
  • Loans for a Variety of Financing Needs
  • No Loan Origination Fee or Prepayment Penalty
  • LightStream Mobile App

Flexible Loan Terms

LightStream has various loan terms available for customers. The maximum loan term offered through LightStream is a 144-month (12-year) loan, which is higher than the average loan term of 60 months. 

There are also several other term options available through LightStream. Customers can select to have a repayment term as short as 24 months (two years). 

High Max Loan Amount

LightStream allows customers to borrow as little as $5,000 or as much as $100,000, higher than many other lenders in the industry. 

However, to qualify for this maximum amount, an excellent credit score (700+) is required, which may not be possible for every borrower.

Competitive Rates

LightStream offers competitive annual percentage rates ranging between 2.49 percent to 19.99 percent* (with the AutoPay discount). It is important to note that rates vary by loan type and loan term.

With such a wide range of loan amounts and repayment terms available, borrowers have the ability to select a loan that will best fit their needs and financial situation.

However, with such competitive rates, LightStream requires a credit score of 680, which is much higher than some of its competitors. And to qualify for the lowest interest rate, you must have an excellent credit score.

Direct Lender

Unlike many of its competitors, all of the funding for a LightStream loan is provided in-house, which means immediate loan funding upon the close of a consumer's loan. This also means that there are no third parties involved in the process, resulting in no transfer of personal information. 

This is good news as there is less of a chance that a consumer will fall victim to scams, predatory lending, or other forms of illegal activity such as identity theft.

Quick Application Process

A LightStream personal loan can be approved with funding transferred within the same day of application, which is faster than other competing online lenders. This is great for borrowers who need funds as soon as possible.

However, same-day funding is only possible if a borrower is approved by 2:30 p.m. Eastern time on a banking business day, and has completed the loan agreement process.

Loans for a Variety of Financing Needs

LightStream offers loans for numerous financing needs and provides fixed rates and terms for each loan type on its website. These options include:

  • Auto
  • Kitchen or Bath Remodel
  • Debt Consolidation
  • Swimming Pool
  • Medical
  • Wedding
  • Timeshare
  • Boat

It's important to note that signing LightStream's contract means you are agreeing to spend the loan only on the specified loan purpose in your application. There are many competing lenders who do not have such strict stipulations and allow borrowers to use their loan to fund whatever they'd like.

No Loan Origination Fee or Prepayment Penalty

LightStream does not charge an origination fee or prepayment penalty fee. This means you will not have to pay an additional fee to fund your loan, and you can pay it off whenever you want without penalty. The option to pay off the loan early allows you to save a great deal of money in interest.

Additionally, LightStream does not charge a late fee if you miss a monthly payment. This is unique in the industry, but LightStream provides itself with some assurances that borrowers will make their payments on time by requiring a high minimum credit score.

LightStream Mobile App

To easily manage your loan, you can download the LightStream app, available on both Android and iOS. Through the app you can check payment due dates, make payments, monitor your balances, and even apply for a new loan if needed.


The Bad

  • No Pre-Qualification Option on Website
  • Fund Stipulations
  • Loan Refinance Stipulations
  • High Minimum Credit Score
  • Negative Customer Reviews

No Pre-Qualification Option on Website

LightStream does not provide a pre-qualification option on its website, a service that most other personal loan lenders provide, allowing you to see rates and terms based on your credit score and personal information without any impact to your credit score. 

Fund Stipulations

When you apply for a LightStream loan you will be required to specify the loan purpose, whether that be an auto loan, a debt consolidation loan, or a loan for medical expenses or home remodeling. Although you can lose your loan for a variety of needs, funds must be used specifically for the reason stated when applying for the loan or it is void. These are basic terms of the agreement and apply to each and every processed LightStream loan.

Loan Refinance Stipulations

LightStream doesn't offer refinancing on existing LightStream loans. This is a common practice in the industry - lenders not providing refinancing on their own loans - and Best Egg, for example, has the same refinancing stipulation. However, LightStream does refinance loans from other lenders.

High Minimum Credit Score

LightStream's estimated minimum credit score is approximately 680, which is high in comparison to other online lending companies. This high minimum requirement allows the company to offer competitively low rates and high loan amounts.

However, LightStream does claim to be a personal loan company that rewards its customers for excellent credit, meaning that you can access competitive rates and terms if you have a strong credit history and assets, demonstrating your ability to save money.

Negative Customer Reviews

LightStream finance reviews from customers reflect a number of low-star reviews with around 64 percent of its reviews recorded as one star. The main LightStream complaints voiced by consumers highlight unclear financial guidelines, and a low acceptance rate even for those with an excellent credit score. 

It should be noted that there are currently less than 100 LightStream reviews. Take note of the anecdotal reviews that you read, but keep in mind that limited reviews offer a limited perspective on a company and its overall loan experience.


The Bottom Line

As a direct lender, LightStream offers personal loans through SunTrust Bank. With a high minimum credit score, LightStream is ideal for individuals with good to excellent credit, a strong credit history, and a good debt-to-income ratio. Consumers with little to no credit will have a difficult time receiving a personal loan from LightStream, and current customer reviews express this difficulty.

A LightStream loan can be used for a variety of needs, including debt consolidation, the most common use of a personal loan, but LightStream requires that you use funding on what you listed in your loan application, which can be limiting. Other top-ranked lenders provide more flexibility in how borrowers can use their loans. 

We advise you to read customer reviews below and compare the lender against other top-rated personal loan companies before making your decision. 

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 21% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 1/01/2021 to 3/31/2021. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

Payment example: Monthly payments for a $10,000 loan at 2.49% APR with a term of 3 years would result in 36 monthly payments of $288.57.

Maximum APR for a LightStream loan is 20.49%.

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Rita Woodstock, MD

I currently have 2 loans with lightstream. $20K and $12K. Loan term was 48 months on both. Loan 1 paid off in 19 months. Loan 2 paid in 9 months. Called to do a home improvement loan for $15K and they turned me down!! Wow...Never been late. Credit Score is 788...You just lost a very good customer!!

4 years ago

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Nathan Dallas, TX

I applied at Lightstream and was approved for a new truck loan. The rate quoted was 6.49% on a new vehicle. I took the next finance offer from the dealership at 5.74% then I refinance the loan the next day at StateFarm at 3.9% interest. Lightstream offered me a higher than average rate and I’m glad I did not accept their loan.

4 years ago