Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are our own.

If you’re wondering how much you can borrow, use our personal loan calculator below to estimate how much you’ll pay for a loan. This will help you prepare to cover any unexpected expenses, tackle home improvements, or consolidate debt.

Enter your loan information to calculate how much you could pay

? Enter the total amount borrowed $
? Enter your annual interest rate %
or
? Enter the amount of time you have to repay your loan years
Total Payment $
Total Interest $
Monthly Payment $

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.


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How to use our personal loan calculator

To use the calculator, just enter the following into the fields below:

  1. The amount you want to borrow
  2. What the interest rate will be
  3. The length of repayment terms

Then you can see what your total payment will be, including interest, as well as your monthly payment.

Getting a personal loan

After you’ve figured out your monthly payment, and how long it will take you to pay off, you’ll be able to budget for your loan. Then once you’re ready to borrow, compare personal loans from multiple lenders and choose the one that’s best for you.

Keep Reading: How to Get a Personal Loan

Frequently asked questions about personal loans

  1. How do I find the right personal loan for me?
  2. How much will I qualify for?
  3. What interest rate can I expect?
  4. How to qualify for a personal loan
  5. How much can I borrow?

How do I find the right personal loan for me?

If you need a personal loan for debt consolidation, home improvements, or some other purpose, you might not know where to start. There are a few major things to keep in mind when choosing one that’s right for you:

  1. Always compare multiple loan options: Compare loan offers from different financial institutions — like banks, credit unions, and online lenders — to be sure you’re getting the best loan for your situation.
  2. Factor fees into the total loan balance cost: Most personal loans have an origination fee, but the type of fee you should watch out for is a prepayment penalty — you don’t want to end up paying more if you choose to pay the loan off earlier.
  3. Take the loan term into consideration: With a longer term, you’ll have the luxury of a lower monthly loan payment, but that also means you’ll end up paying more in total interest payments over the life of the loan. With a shorter term, you’ll pay more each month, but save more in the long run. So weigh the pros and cons of longer versus shorter terms carefully before deciding.

Check Out: The Best Personal Loan Lenders

[ Jump back to FAQs ]

How much will I qualify for?

You can apply for a wide range of loan amounts when it comes to getting a personal loan — usually between $1,000 and $100,000, depending on the lender.

The total amount you qualify for, however, will depend on a few factors:

Generally, if you have a good credit score or excellent credit, you’ll qualify for lower interest rates. If your credit is poor, you could still qualify, but at a much higher interest rate. If you have bad credit, make an effort to improve your score before applying.

[ Jump back to FAQs ]

What interest rate can I expect?

Personal loan interest rates vary from lender to lender and depend on your credit score and history. It also depends on the loan terms you choose (like length of payment and total amount you’re borrowing). Though, generally, personal loan interest rates range from 4.99% to 35.99% APR, you can check out these rate estimates based on your own credit score.

How's your credit?Credit score rangeAverage minimum rate
Excellent750 - 85013.93%
Good700 - 74918.33%
Fair640 - 69922.12%
Poor300 - 63926.62%

Disclosure: This data is for a $10,000 loan amount.1

1The average minimum rate was calculated based on Credible.com users who requested personal loan prequalified rates between July 1, 2019, and July 31, 2019, for loans in the amount of $10,000 and $20,000, respectively, and who received rates through the Credible.com platform. The average minimum rates were then calculated across all of the the users within the same credit tier (Excellent 750+, Good 700-749, Fair 640-699, Poor <640). The credit scores for the users were based on Transunion soft credit pulls, not user self-reported data. If the user received more than one prequalified rate from more than one lender for multiple loan terms (e.g., loan terms between 2-7 years), the minimum prequalified rate received for the user within each data set (e.g., the $10,000 and $20,000 data set) was averaged across all users in the data set, not factoring in the term of the loan. Typically, however, shorter loan terms have lower rates.

[ Jump back to FAQs ]

How to qualify for a personal loan

To qualify for a personal loan, you’ll typically need to:

  • Be 18 years of age or older
  • Be a U.S. citizen or permanent resident
  • Have a steady income
  • Have good credit

Learn More: How to Get a Personal Loan

[ Jump back to FAQs ]

How much can I borrow?

The upper limits for personal loans vary depending on the lender, but Credible’s partner lenders offer personal loans to qualified borrowers up to $100,000.

How much you can borrow also depends on the loan amount you apply for, as well as factors that affect your ability to repay the amount, for example:

  1. Your debt-to-income ratio: This is how much of your monthly income goes to paying ongoing obligations like your rent, car payment, or credit card bills.
  2. Your credit score and history: Many lenders also have minimum credit score requirements for credit approval.
[ Jump back to FAQs ]
LenderFixed ratesLoan amountsMin. credit score
avant

View details
9.95% - 35.99% APR$2,000 to $35,000**580
  • Rates: 9.95% - 35.99% APR
  • Loan terms (years): 2, 3, 4, 5*
  • Loan amount: $2,000 to $35,000**
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, CT, HI, IA, LA, NV, NY, SC, VT, and WV
  • Min. income: $24,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Loan uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes

Avant personal loans review

*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.

**Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

axos

View details
6.49% - 29.99% APR$5,000 to $35,000740
  • Rates: 6.49% - 29.99% APR
  • Loan terms (years): 1, 2, 3, 4, 5
  • Loan amount: $5,000 to $35,000
  • Fees: No prepayment penalty
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: Does not disclose
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 740
  • Time to get funds: Next business day
  • Loan uses: Debt consolidation, home improvement, and other purposes

Axos Bank personal loans review

best egg

View details
5.99% - 29.99% APR$5,000 to $35,000640
  • Rates: 5.99% - 29.99% APR
  • Loan terms (years): 3, 5
  • Loan amount: $5,000 - $35,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except DC, IA, VT, and WV
  • Min. income: None
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 640
  • Time to get funds: As soon as 1 - 3 business days after successful verification
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Best Egg personal loans review

discover

View details
6.99% - 24.99% APR$2,500 to $35,000660
  • Rates: 6.99% - 24.99% APR
  • Loan terms (years): 3, 4, 5, 6, 7
  • Loan amount: $2,500 - $35,000
  • Fees: None as long as you pay on time
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 660
  • Time to get funds: Funds can be sent as soon as the next business day after acceptance
  • Loan uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding

Discover personal loans review

freedomplus

View details
7.99% - 29.99% APR$10,000 to $35,000Not disclosed by lender
  • Rates: 7.99% - 29.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $7,500 - $40,000
  • Fees: Origination fee
  • Discounts: Does not disclose
  • Eligibility: Available in all states except CO, CT, HI, KS, MA, ME, NH, NV, NY, ND, OR, RI, VT, WV, WI, and WY
  • Min. income: None
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: Does not disclose
  • Time to get funds: As soon as 2 business days
  • Loan uses: Debt consolidation, home improvement, wedding, travel, medical expenses, and other purposes

FreedomPlus personal loans review

lendingclub

View details
6.95% - 35.89% APR$1,000 to $40,000580
  • Rates: 6.95% - 35.89% APR
  • Loan terms (years): 3, 5
  • Loan amount: $1,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA
  • Min. income: None
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: Usually takes about 3 days
  • Loan uses: Debt consolidation, paying off credit cards, home improvement, pool loans, vacations, and other purposes

LendingClub personal loans review

Based on a majority of borrowers from LendingClub's marketing partners who were issued loans between 1/1/19-12/13/19. The time it takes for your loan to be funded may vary.

lendingpoint

View details
15.49% - 35.99% APR$2,000 to $25,000585
  • Rates: 15.49% - 35.99% APR
  • Loan terms (years): 2, 3, 4
  • Loan amount: $2,000 to $25,000
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, CT, HI, MA, MD, NV, NY, VT, WV, and WY
  • Min. income: $35,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 585
  • Time to get funds: As soon as the next business day
  • Loan uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes

LendingPoint personal loans review

lightstream

View details
3.99% - 19.99% APR$5,000 to $100,000660
  • Rates: 3.99% - 19.99% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7 (up to 12 years for home improvement loans)
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except RI and VT
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: No
  • Min. credit score: 660
  • Time to get funds: As soon as the same business day
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

LightStream personal loans review

LightStream disclosure

marcus

View details
6.99% - 19.99% APR1$3,500 to $40,0002680
  • Rates: 6.99% - 19.99% APR1
  • Loan terms (years): 3, 4, 5, 6, 7
  • Loan amount: $3,500 to $40,0002
  • Fees: None
  • Discounts: None
  • Eligibility: Available in all states except MD
  • Min. income: $30,000
  • Customer service: Phone
  • Soft credit check: Yes
  • Min. credit score: 680
  • Time to get funds: Many Marcus customers receive funds in as little as five days
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Marcus personal loans review

1Rate reduction available for AutoPay.

2You may be required to have some of your funds sent directly to pay off outstanding unsecured debt.

3After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.

payoff

View details
5.99% - 24.99% APR$5,000 to $40,000640
  • Rates: 5.99% - 24.99% APR
  • Loan terms (years): 2, 3, 4, 5
  • Loan amount: $5,000 to 45,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except MA, MD, MS, NE, NV, and OH
  • Min. income: None
  • Customer service: Phone, email, chat
  • Soft credit check: Yes
  • Min. credit score: 640
  • Time to get funds: As soon as 2 - 5 business days after verification
  • Loan uses: Debt consolidation and credit card consolidation only

Payoff personal loans review

penfed

View details
6.49% - 17.99% APR$600 to $20,000
(depending on loan term)
650
  • Rates: 6.49% - 17.99% APR
  • Loan terms (years): 3, 4, 5
  • Loan amount: $600 to $20,000 (depending on loan term)
  • Fees: None
  • Discounts: None
  • Eligibility: Does not disclose
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: No
  • Min. credit score: 650
  • Time to get funds: 2 to 4 business days after verification
  • Loan uses: Debt consolidation, home improvement, transportation, medical, dental, life events

PenFed personal loans review

prosper

View details
6.95% - 35.99% APR$2,000 to $40,000640
  • Rates: 6.95% - 35.99% APR
  • Loan terms (years): 3, 5
  • Loan amount: $2,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA, ND, WV
  • Min. income: None
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 640
  • Time to get funds: On average, within 5 days of accepting your offer
  • Loan uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes

Prosper personal loans review

sofi

View details
5.99% - 18.83% APR$5,000 to $100,000Does not disclose
  • Rates: 5.99% - 18.83% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except MS
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: Does not disclose
  • Time to get funds: 3 business days
  • Loan uses: Solely for personal, family, or household uses

SoFi personal loans review

upstart

View details
7.99% - 35.97% APR$1,000 to $35,000580
  • Rates: 7.99% - 35.97% APR
  • Loan terms (years): 3, 5
  • Loan amount: $1,000 to $35,000 ($3,005 minimum in GA; $6,005 minimum in MA)
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except DC, IA, WV
  • Min. income: Does not disclose
  • Customer service: Email
  • Soft credit check: Yes
  • Min. credit score: 580
  • Time to get funds: Within a day of clearing necessary verifications
  • Loan uses: Debt consolidation, credit card refinancing, home improvement, and other purposes

Upgrade personal loans review

upstart

View details
8.13% - 35.99% APR4$1,000 to $50,0005600 (in most states)
  • Rates: 8.13% - 35.99% APR4
  • Loan terms (years): 3 to 5 years4
  • Loan amount: $1,000 to $50,0005
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except IA and WV
  • Min. income: $12,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: 600 (in most states)
  • Time to get funds: As soon as 1 - 3 business days6
  • Loan uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes

Upstart personal loans review

4The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 15% and 36 monthly payments of $33 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

5This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.

6If you accept your loan by 5pm EST (not including weekends or holidays), loan funds will be sent to your designated bank account on the next business day, provided that such funds are not being used to directly pay off credit cards. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

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All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms

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About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

About the author
Jamie Young
Jamie Young

Jamie Young is a Credible authority on personal finance. Her work has been featured by Time, Business Insider, Huffington Post, Forbes, CBS News, and more.

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