For more information

Visit Site
  • Pros
  • No late or missed payment fees
  • No origination fees
  • Very competitive APRs
  • Simple application process
  • Cons
  • Need excellent credit to qualify

Lightstream Personal Loans Review

Last Updated:

Lightstream is a lending service that is a division of SunTrust Bank. Because this is the lending division of a bank, loans will have very competitive APRs but high standards for approval.

When you are looking for a personal loan, a lender like this is ideal. In the industry, this range is on the lower end; however, you have to qualify first. Lightstream stands apart in offering personal loans with no fees, and quick turnaround from applying for the loan and receiving your funds.

Personal Loans Rates

Lightstream offer loans in a range of categories including vehicle, home improvement, recreation and "anything else". Personal loans for purposes such as debt consolidation or credit card debt will fall under the anything else category. The Lightstream loan products are aimed at those with very good credit and a high income.

Their target customer is more likely to be buying a horse or small airplane than paying off credit card debt. Lightstream does not fund loans for college expenses or refinancing outstanding college loans, nor will they lend to refinance existing Lightstream loans.

Rates vary from a low of 2.19% with Autopay to the most qualified borrowers, making them very competitive for personal or consumer loan products. The interest rates are fixed for the life of the loan, keeping your payment the same throughout the payback process.

Prospective borrowers should note that interest rates vary by loan category as well as by loan amount and desired loan terms. You can go here to check your rate.

Fees and Payments

Lightstream does not charge a loan origination fee, nor do they charge late fees or missed payment fees. Monthly payments are automatically debited from your bank account unless you prefer to be billed and pay by check each month.

Borrowers choosing the automatic debit option receive a .5 reduction in their interest rate, a strong incentive indeed. Repayment terms of anywhere from 24 to 84 months can be requested.

Excellent Credit Required

Lightstream prefers to make loans to those with a credit score of about or higher. If your score is much lower than that, you may want to shop around for lenders catering to those with credit matching your score. Lightstream also looks for a credit history going back five years or more, with a variety of accounts on record such as mortgages and credit cards.

They like to confirm that you have no late payments or other blemishes on your credit record. Lightstream gathers information on your entire financial picture, including savings and retirement accounts as well as income and work history. Those who need the money the least are most likely to get the loan from Lightstream, but they do consider applicants with good credit on their own merits.

The Application Process

It is easy to apply for a loan from Lightstream, with the whole process handled online. Applicants are notified of the decision on their application via email. Approved applicants then provide an electronic signature on the loan agreement to accept it. They provide checking account details, schedule a date to receive funds and choose the day to make their payment each month.

Lightstream makes the transfer of funds on the designated date to the borrower's checking account. Lightstream makes the somewhat amazing claim that your loan can be funded the same day you apply!†

According to Lightstream's website, your loan can be funded the same day you applied for it under the assumption that it is a banking business day (Monday-Friday), your application has been approved, you've provided them with your relevant banking information and funding preferences, and that you've reviewed and electronically signed the loan agreement before 2:30 p.m. Eastern time.

It's worth nothing that Lightstream asks that you list a major credit card for identity verification. In addition, if you are dependent on a spouse or other family member for income, Lightstream will ask for a joint application.

Customer Support Rated

Lightstream is very responsive to loan applications and is on top of the funding process. There is a wealth of helpful, frank information on their well-organized website. Clients can contact Lightstream via an email form on the website and get a prompt answer during business hours.

This being said, there is no phone support, a bit unusual for an operation of this size. Lightstream reasons that their email response is very good, and they keep their overhead low by not offering phone support, in turn keeping interest rates low.

Lightstream strives to ensure each customer has an excellent experience. If you're not completely satisfied, you can email them about their $100 30-day guarantee‡. After a brief questionnaire, they'll send you $100‡. Be aware, however, that Lightstream reserves the right to change or discontinue their guarantee, and that the guarantee is limited to one $100 payment per funded loan.

If you work for LightStream or SunTrust, unfortunately, you do not qualify for the Loan Experience Guarantee.

Customer reviews and company reputation are two great ways to determine whether or not you might enjoy a Verizon cell phone planLightstream is the online lending arm of Sun Trust Bank, which has an A rating with the Better Business Bureau BBB and has been accredited since 1967 at the time of this writing. While there are pros and cons to unsecured consumer debt, Lightstream is a legitimate lender providing a popular service. Keep in mind that the experiences of one customer are not representative of the company as a whole, but it is important to spot potential issues you may have with the company early nonetheless.


With all of these factors, the ideal candidate for a Lightstream loan may not be someone who is struggling financially and looking to repay debts. Instead, people with solid credit histories who are looking to bolster their finances for a big purchase or a new venture are more likely candidates. For those with great credit, the low rates and lack of fees make Lightstream an attractive lender, even with the lack of phone support.

*Monthly payments for a $10,000 loan at 5.99% APR with a term of 3 years would result in 36 monthly payments of $304.17.

†You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.

‡After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. LightStream and SunTrust teammates do not qualify for the Loan Experience Guarantee.

Write Review

Lightstream Reviews

Average Customer Rating

12 User Reviews

User Rating Distribution

5 Stars 6
4 Stars 3
3 Stars 2
2 Stars 0
1 Star 1
Not Recommended Nothing...... Their customer service.

I make 75k a year with a credit score of 756. I was turned down for a 40k loan over the coarse of 7 years. They countered with a 25k offer for 6 years at a 9.5% interest rate. Anyone who agrees to terms like this deserves what they get. Lightstream is run by a bunch of ignorant workers that can't even tell you what the guidelines are for the loans. "We don't have access to that information" was the repeated line we kept getting. Your company is a joke......

Show More
Recommended Interest rates are competative Payment system

Constant communication at every step and really competitive interest rates. My only issue was due to a problem with their system they charged me for a missed payment, they sorted the issue quickly and reversed the charges.

Show More
Recommended Easiest loan application None

Lightstream have the easiest loan application process ever! It is fast and easy and the interest rates are very competitive.

Show More
Recommended Fastest application None

I was worried about applying as I don't have the best credit rating, but lightstream were really helpful and although the interest rate was a little bit higher then normal, it is still one of the best deals for people with a low credit rating.

Show More
Recommended Fast turnaround and helpful customer service team No cons

From the start to finish there was good communication and the staff are really friendly and are happy to answer any questions. We got a small loan for some home improvements and it could not have been easier.

Show More
Recommended Perfect for a car loan None

A really quick application process and when my wife applied for a loan for a new car it was in the bank the next day and the interest rate is much better then directly through a dealership.

Show More
Recommended Customer service Keep getting sales calls

I signed up online, which was really easy with clear instructions, and the following morning I had a call from a representative who talked me through the process and what they could offer. With a low interest rate I signed up and the money was in my account the following day. The only negative thing is that I still keep getting phone calls from them, for some reason their system has not updated that I have taken out a loan with them!

Show More
Recommended Hassle free and good customer service No cons

Lightstream offered me really low rates and a great choice with the loan package I wanted, it all went through hassle free and the customer reps were really helpful and answered any questions I had.

Show More
Recommended Fastest approval None

I read a lot of positive reviews about lightstream and i didn't know whether to believe them all, but they are the best! Super fast approval and good communication. The funds were in my account the day after being approved!

Show More
Recommended Easy to apply Lost payments

Until I paid my loan off I had no issues with lightstream, but when I made my last loan payment, they kept saying saying they could not see that it was paid off and kept demanding payments, it took two months for them for finally see the glitch in their system, and just caused so much stress.

Show More
Recommended Stress free application Customer service was terrible

I was recommended Lightstream by a work colleague who had recently signed up for a loan and reading all the positive reviews I decided to go for it. The loan application is vert straight forward with no hassle, but the customer service is terrible! everyone says how good it is, but the rep I was speaking to was rude and patronizing.

Show More
Recommended Low interest rate and fast approval No cons

I would totally recommend Lightstream if you are looking for a loan. I was looking for a loan for a new car and lightstream offered the lowest interest rates and money was in my account the next day.

Show More

How would you rate Lightstream?

Best thing about Lightstream? step 2 of 7
Worst thing about Lightstream? step 3 of 7
Tell us about your experience. step 4 of 7
Would you recommend Lightstream to a friend? step 5 of 7
A little about you step 6 of 7

How human are you? step 7 of 7

Your review has been submitted. Thank you!

Advertiser Disclosure: MoneySavingPro services are provided at no cost to you, but we may receive a commission from the companies we refer you to. To find out more about how our site works see our Advertiser Disclosure

Full Advertiser Disclosure:

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers, and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written and published their reviews.

While we try to research and review as many providers as possible in the industries we cover, we have not reviewed every company available.

Our ranking system is independent of compensation and reflects our understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.