Varo doesn’t provide any information on why it stopped offering personal loans, but it seems to now focus exclusively on its banking program. As the first fintech company to receive a national bank charter, it’s making headway in the finance industry — but this does mean you’ll need to look elsewhere for loans.
We selected three of our top lenders as alternatives to Varo. They offer similar terms and perks, and you won’t need to wait for an invitation to apply.
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SoFi |
Online lenders with banking options |
$5,000 to $100,000 | 8.99% to 29.99% | 2 years to 7 years |
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Rocket Loans |
Quick funding for loans under $25,000 |
$2,000 to $45,000 | 9.12% to 29.99% | 3 years to 5 years |
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MoneyLion |
Comparing a wide range of lenders |
$500 to $100,000 | Varies by lender |
2 to 20 years |
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Select your credit score and state to see other top personal loan options.
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product’s interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate – this gives you a simple score out of 10.
As of October 2023, Varo offers cash advances, and if you have a Varo bank account but don’t want to use Varo’s cash advance you can still access cash advances that work with Varo. However, you can open a checking or savings account with it. Learn more with our review of Varo’s digital banking service.
With Varo out of the picture, SoFi, Rocket Loans and MoneyLion are three solid alternatives to its previous lending program. But before submitting an application, you should also read more about personal loans to find the right lender for your finances.
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