Truist Personal Loans Review (2026): What You Need To Know

Quick take: Truist offers unsecured personal loans through its online lending arm, LightStream. Borrowers enjoy no fees of any kind (origination, late, pre-payment), fast funding (often same-day) and competitive rates for borrowers with good to excellent credit. LightStream loans are available nationwide with loan amounts between $5,000 and $100,000.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

Pros & Cons 

Pros

• No fees: Truist doesn't charge origination, late or prepayment fees. You receive the full amount you're approved for.

• Same-day funding available: Qualified borrowers who complete their application and verification by 2:30 p.m. ET can receive funds the same day.

• Available in all 50 states: LightStream loans are available to borrowers nationwide.

• Loan amounts up to $100,000: LightStream offers one of the highest maximums in the personal loan industry ($5,000 to $100,000).

• Rate Beat Program: If you're approved for a lower rate from a competing lender, LightStream will beat that rate by 0.10 percentage points.

• Joint applications accepted: Applying with a co-borrower who has strong credit can help you qualify for a better rate or higher loan amount.

Cons 

• Requires good to excellent credit: You'll typically need a good-to-excellent credit profile – or a minimum credit score of 670.

• No prequalification option: Truist requires a hard credit inquiry to see your rate, which can temporarily lower your credit score.

• Minimum loan amount is $5,000: If you need to borrow less than $5,000, you may want to look elsewhere.

• Cannot change payment due date after funding: Once your LightStream loan is funded, your due date is locked in for the life of the loan.

Company Overview 

Truist Financial Corporation was formed in December 2019 through the merger of BB&T and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist is a top 10 US commercial bank, serving clients in a number of high-growth markets in the country. 

It holds an A+ rating from the Better Business Bureau and maintains approximately $535 billion in total assets.

LightStream launched in 2013 as part of SunTrust and has since earned recognition for customer satisfaction, including a J.D. Power award for highest customer satisfaction in personal loans. 

Key Features 

Here's what you need to know about the key features of Truist personal loans.

Interest Rates 

LightStream personal loans feature APRs ranging from 6.49% to 25.39% with AutoPay, which includes a 0.50 percentage point discount for enrolling in automatic payments. Rates without AutoPay are 0.50% points higher.

Your actual rate depends on many factors, including your credit score, credit history, loan amount, term length and loan purpose. LightStream offers purpose-specific rates, meaning a home improvement loan may carry a different annual percentage rate (APR) than a debt consolidation loan. 

LightStream also offers a Rate Beat Program that will beat any competing lender's unsecured loan rate by 0.10 percentage points.

Loan Amounts 

LightStream offers loans from $5,000 to $100,000, one of the highest maximums in the industry. If you need less than $5,000, then you may want to explore another lender. However, for borrowers who need larger amounts for major home renovations or debt consolidation, LightStream's $100,000 maximum offers significant flexibility.

Repayment Terms 

LightStream loans' payment term lengths range from two to 20 years, depending on the size and type of loan. For most loan purposes, your term is capped at seven years (or six if the loan is under $25,000). However, borrowers with home improvement loans may get terms up to 20 years.

Funding Speed 

LightStream says it can approve loan applications within five minutes and fund loans as soon as the same day. To receive same-day funding via wire transfer, you must complete the application, verification, and e-sign your loan agreement by 2:30 p.m. ET on a banking business day.

Costs & Fees 

Another one of Truist's biggest advantages is its no-fee structure. LightStream doesn't charge fees for loan origination, late payments or paying a loan off early.This is a significant perk because many lenders charge origination fees of between 1% and 10% of the loan amount, which is deducted from your proceeds. With Truist, you receive the full loan amount you're approved for.

How to Apply 

To apply for a Truist personal loan, follow these steps:

1. Choose your loan type: Decide which type of LightStream unsecured loan is best for you (home improvement, auto, debt consolidation, life event, etc.).

2. Gather your information: Be prepared to provide personal details like your contact information, a U.S. phone number, two years of address and employment history and income documentation.

3. Complete the online application: Fill out the application with your loan purpose, desired amount, and term. Note that Truist does not offer prequalification, so submitting an application will trigger a hard credit inquiry.

4. Review and accept your offer: If approved, review your loan terms, APR and monthly payment. E-sign your loan agreement and provide your bank account information for funding.

5. Receive your funds: Funds can be deposited as soon as the same day.

Comparable Options 

Who It’s Best For

LightStream personal loans are best for borrowers with good to excellent credit (typically 660 to 700+ FICO scores) who want competitive rates and zero fees. LightStream is particularly well-suited for large loan needs (up to $100,000) and borrowers who want extended repayment terms of up to 12 years for certain loan purposes. 

The Rate Beat Program is also attractive as it helps ensure that you’re getting the best rate possible.

That said, LightStream isn't ideal for borrowers with fair or poor credit, those who need to prequalify before a hard inquiry or those who need less than $5,000.

Final Take 

Truist offers a compelling combination of zero fees, competitive rates and flexible terms. The ability to borrow up to $100,000 with terms as long as 12 years makes it one of the most flexible options for well-qualified borrowers. The Rate Beat Program provides additional peace of mind that you're getting a competitive deal.

However, the lack of prequalification is a significant drawback. You'll need to commit to a hard credit inquiry to see your rate, which means doing your rate shopping quickly to minimize the impact on your credit score. Borrowers with excellent credit who are confident they'll qualify will find LightStream hard to beat on overall value.

FAQs 

Does Truist allow co-signers?

Truist does not allow traditional cosigners on personal loans. However, it does accept joint applications, where both applicants share equal responsibility for repaying the loan.

What credit score do I need for a Truist loan?

LightStream typically accepts loan applicants with good-to-excellent credit scores, which means you'll likely need a score of at least 670 to qualify.

How long does it take to get funds from Truist?

LightStream says it can approve loan applications within five minutes and fund loans as soon as the same day. To receive same-day funding, you must complete all steps by 2:30 p.m. ET on a banking business day. 

Can I use a Truist loan for any purpose?

LightStream offers loans for a wide variety of purposes, including debt consolidation, home improvement, major purchases, medical expenses, weddings and vehicles. 

Sources

• Media.trust.com - BB&T and SunTrust Merger

• Media.trust.com - Personal Loans Award From J.D. Power

• BBB.org - Truist Bank BBB Profile

• Truist.com - Official LightStream Personal Loans Website