Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

Whether you want to consolidate high-interest credit card debt, finance a major home renovation, or take care of another expense, a personal loan could help you pay for it.

But before you apply for a loan, it’s important to compare as many lenders as possible to find the right loan for your needs.

During your search, keep in mind that the best personal loans should provide competitive interest rates, a wide selection of loan terms, and inclusive eligibility requirements.

Here’s where you can find personal loans for some of the most popular loan uses:

Personal loans for good credit
Personal loans for debt consolidation
Personal loans for home improvement
Personal loans for bad credit
Other personal loan lenders to consider
Personal loans and COVID-19
Frequently asked questions about personal loans
Personal loan terms you should know

Personal loans for good credit

If you have good to excellent credit (minimum credit score of 700 or higher), you’ll have many options when it comes to personal loans.

These are the most popular vetted Credible partner lenders among borrowers with good to excellent credit who used Credible to take out a personal loan.

Lender	Fixed rates	Min. credit score
View details	6.49% - 29.99% APR	740
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
View details	5.99% - 29.99% APR	600
Rates: 5.99% - 29.99% APR Loan terms (years): 3, 5 Loan amount: $5,000 - $50,000 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: 600 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
View details	6.99% - 24.99% APR	660
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
View details	10.68% - 35.89% APR	600
Rates: 10.68% - 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: 600 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.
View details	3.99% - 19.99% APR	660
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
View details	6.99% - 19.99% APR¹	660 (TransUnion FICO®️ Score 9)
Rates: 6.99% - 19.99% APR¹ Loan terms (years): 3, 4, 5, 6 Loan amount: $3,500 to $40,000² Fees: None Discounts: Autopay Eligibility: Available in all 50 states Min. income: $30,000 Customer service: Phone Soft credit check: Yes Min. credit score: 660 (TransUnion FICO®️ Score 9) 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 of 0.25% 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.
View details	6.95% - 35.99% APR	640
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
View details	5.99% - 18.83% APR	Does 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
Compare rates from these lenders without affecting your credit score. 100% free! Compare Now
All APRs reflect autopay and loyalty discounts where available \| LightStream disclosure \| Read more about Rates and Terms

Axos: Best for home improvement
Best Egg: Best for moving expenses
Discover: Best for longer repayment terms
LendingClub: Best for credit card consolidation
LightStream: Best for quick loan funding
Marcus: Best for flexible repayment options
Prosper: Best for debt consolidation
SoFi: Best for borrowers with good to excellent credit

Before you borrow, it’s also a good idea to consider how much a personal loan will cost you over time. You can estimate how much you’ll pay for a loan using our personal loan calculator below.

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Personal loans for debt consolidation

Rates on personal loans can be much lower than interest rates on credit cards. If you need help consolidating credit card debt, you have plenty of choices when it comes to personal loans.

Here are the most popular vetted Credible partner lenders among borrowers who used Credible to take out a personal loan for debt consolidation.

Lender	Fixed rates	Min. credit score
View details	9.95% - 35.99% APR	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, NV, NY, 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.
View details	6.49% - 29.99% APR	740
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
View details	6.99% - 24.99% APR	660
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
View details	7.99% - 29.99% APR	Does not disclose
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
View details	10.68% - 35.89% APR	600
Rates: 10.68% - 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: 600 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.
View details	15.49% - 35.99% APR	585
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
View details	3.99% - 19.99% APR	660
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
View details	6.99% - 19.99% APR¹	660 (TransUnion FICO®️ Score 9)
Rates: 6.99% - 19.99% APR¹ Loan terms (years): 3, 4, 5, 6 Loan amount: $3,500 to $40,000² Fees: None Discounts: Autopay Eligibility: Available in all 50 states Min. income: $30,000 Customer service: Phone Soft credit check: Yes Min. credit score: 660 (TransUnion FICO®️ Score 9) 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 of 0.25% 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.
View details	18.00% - 35.99% APR	None
Rates: 18.00% - 35.99% APR Loan terms (years): 2, 3, 4, 5 Loan amount: $1,500 to $20,000 Fees: Origination fee Discounts: None Eligibility: Must have photo I.D. issued by U.S. federal, state or local government Min. income: Does not disclose Customer service: Phone, email Soft credit check: Yes Min. credit score: None Time to get funds: As soon as the same day, but usually requires a visit to a branch office OneMain Financial personal loans review
View details	5.99% - 24.99% APR	640
Rates: 5.99% - 24.99% APR Loan terms (years): 2, 3, 4, 5 Loan amount: $5,000 to $40,000 Fees: Origination fee Discounts: None Eligibility: Available in all states except MA, 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
View details	6.49% - 17.99% APR	670
Rates: 6.49% - 17.99% APR Loan terms (years): 1, 2, 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: 670 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
View details	6.95% - 35.99% APR	640
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
View details	5.99% - 18.83% APR	Does 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
View details	6.94% - 35.97% APR	580
Rates: 6.94% - 35.97% APR Loan terms (years): 3, 5 Loan amount: $1,000 to $50,000 ($3,005 minimum in GA; $6,005 minimum in MA) Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except IA and 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
View details	8.13% - 35.99% APR⁴	580
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: 580 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.
Compare rates from these lenders without affecting your credit score. 100% free! Compare Now
All APRs reflect autopay and loyalty discounts where available \| LightStream disclosure \| Read more about Rates and Terms

Avant: Best for borrowers with poor to fair credit
Axos: Best for quick loan funding
Discover: Best for longer loan terms
FreedomPlus: Best for consolidating high-interest debt
LendingClub: Best for borrowers who need a cosigner
LendingPoint: Best for borrowers with poor to fair credit
LightStream: Best for borrowers with good credit
Marcus: Best for flexible repayment options
OneMain Financial: Best for borrowers with below-average credit
Payoff: Best for boosting your credit score
PenFed: Best for small loan amounts
Prosper: Best for borrowers with good credit
SoFi: Best for borrowers with excellent credit
Upgrade: Best for fast loan decisions
Upstart: Best for borrowers with lower incomes

Personal loans for home improvement

If you’re looking to finance a home improvement project like a kitchen remodel or bathroom renovation, you could tap your home’s equity with a cash-out refinance or home equity loan.

But many lenders offer personal loans for home improvement that don’t require you to put your home up as collateral.

Here are the most popular vetted Credible partner lenders among borrowers who used Credible to take out a personal loan for home improvement.

Lender	Fixed rates	Min. credit score
View details	6.49% - 29.99% APR	740
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
View details	5.99% - 29.99% APR	600
Rates: 5.99% - 29.99% APR Loan terms (years): 3, 5 Loan amount: $5,000 - $50,000 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: 600 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
View details	10.68% - 35.89% APR	600
Rates: 10.68% - 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: 600 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.
View details	15.49% - 35.99% APR	585
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
View details	3.99% - 19.99% APR	660
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
View details	6.99% - 19.99% APR¹	660 (TransUnion FICO®️ Score 9)
Rates: 6.99% - 19.99% APR¹ Loan terms (years): 3, 4, 5, 6 Loan amount: $3,500 to $40,000² Fees: None Discounts: Autopay Eligibility: Available in all 50 states Min. income: $30,000 Customer service: Phone Soft credit check: Yes Min. credit score: 660 (TransUnion FICO®️ Score 9) 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 of 0.25% 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.
View details	18.00% - 35.99% APR	None
Rates: 18.00% - 35.99% APR Loan terms (years): 2, 3, 4, 5 Loan amount: $1,500 to $20,000 Fees: Origination fee Discounts: None Eligibility: Must have photo I.D. issued by U.S. federal, state or local government Min. income: Does not disclose Customer service: Phone, email Soft credit check: Yes Min. credit score: None Time to get funds: As soon as the same day, but usually requires a visit to a branch office OneMain Financial personal loans review
View details	6.49% - 17.99% APR	670
Rates: 6.49% - 17.99% APR Loan terms (years): 1, 2, 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: 670 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
View details	6.95% - 35.99% APR	640
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
View details	5.99% - 18.83% APR	Does 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
View details	6.94% - 35.97% APR	580
Rates: 6.94% - 35.97% APR Loan terms (years): 3, 5 Loan amount: $1,000 to $50,000 ($3,005 minimum in GA; $6,005 minimum in MA) Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except IA and 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
Compare rates from these lenders without affecting your credit score. 100% free! Compare Now
All APRs reflect autopay and loyalty discounts where available \| LightStream disclosure \| Read more about Rates and Terms

Axos: Best for borrowers with excellent credit
Best Egg: Best for borrowers with good credit
LendingClub: Best for borrowers who need a cosigner
LendingPoint: Best for borrowers with poor to fair credit
LightStream: Best for borrowers with good credit
Marcus: Best for flexible repayment options
OneMain Financial: Best for quick loan funding
PenFed: Best for small loan amounts
Prosper: Best for borrowers with good credit
SoFi: Best for large loan amounts
Upgrade: Best for fast loan decisions

Personal loans for bad credit

If you have fair to poor credit and you’re interested in a personal loan, you still have options. Because the interest rate you’ll be offered depends largely on your credit score, you can expect to pay higher rates than borrowers with good credit.

Here are the most popular vetted Credible partner lenders among borrowers who used Credible to take out personal loans for fair or poor credit.

Lender	Fixed rates	Loan amounts
View details	9.95% - 35.99% APR	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, NV, NY, 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.
View details	7.99% - 29.99% APR	Does not disclose
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
View details	10.68% - 35.89% APR	600
Rates: 10.68% - 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: 600 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.
View details	15.49% - 35.99% APR	585
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
View details	3.99% - 19.99% APR	660
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
View details	18.00% - 35.99% APR	None
Rates: 18.00% - 35.99% APR Loan terms (years): 2, 3, 4, 5 Loan amount: $1,500 to $20,000 Fees: Origination fee Discounts: None Eligibility: Must have photo I.D. issued by U.S. federal, state or local government Min. income: Does not disclose Customer service: Phone, email Soft credit check: Yes Min. credit score: None Time to get funds: As soon as the same day, but usually requires a visit to a branch office OneMain Financial personal loans review
View details	5.99% - 24.99% APR	640
Rates: 5.99% - 24.99% APR Loan terms (years): 2, 3, 4, 5 Loan amount: $5,000 to $40,000 Fees: Origination fee Discounts: None Eligibility: Available in all states except MA, 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
View details	6.94% - 35.97% APR	580
Rates: 6.94% - 35.97% APR Loan terms (years): 3, 5 Loan amount: $1,000 to $50,000 ($3,005 minimum in GA; $6,005 minimum in MA) Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except IA and 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
View details	8.13% - 35.99% APR⁴	580
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: 580 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.
Compare rates from these lenders without affecting your credit score. 100% free! Compare Now
All APRs reflect autopay and loyalty discounts where available \| LightStream disclosure \| Read more about Rates and Terms

Avant: Best for borrowers with poor credit
FreedomPlus: Best for consolidating high-interest debt
LendingClub: Best for borrowers who need a cosigner
LendingPoint: Best for borrowers with below-average credit
LightStream: Best for higher loan amounts
OneMain Financial: Best for quick loan funding
Payoff: Best for borrowers with fair credit
Upgrade: Best for small loan amounts
Upstart: Best for borrowers with lower incomes

Other personal loan lenders to consider

Here are more personal loan companies we evaluated. Keep in mind that these lenders are not offered through Credible, so you won’t be able to easily compare your rates with them on the Credible platform like you can with our partner lenders listed above.

Lender	Loan terms (years)	Loan amount
Show details	3, 4, 5, 6, 7	$5,000 - $50,000
Rates: Fixed Loan terms (years): 3, 4, 5, 6, 7 Loan amount: $5,000 - $50,000 Fees: None Discounts: Autopay, loyalty Eligibility: Does not disclose Min. income: Does not disclose Customer service: Phone Soft credit check: Yes Min. credit score: Does not disclose Time to get funds: 1 - 3 days
Show details	3, 4, 5	$5,000 - $75,000
Rates: Fixed Loan terms (years): 3, 4, 5 Loan amount: $5,000 - $75,000 Fees: Does not disclose Discounts: Autopay Eligibility: Available in all states except AL, DE, KY, NV, and RI Min. income: Does not disclose Customer service: Phone, email Soft credit check: Yes Min. credit score: 680 Time to get funds: 1 - 3 days
Show details	2, 3, 4, 5	$3,000 - $50,000 (depending on relationship with HSBC Bank)
Rates: Fixed Loan terms (years): 2, 3, 4, 5 Loan amount: $3,000 - $50,000 (depending on relationship with HSBC Bank) Fees: None Discounts: Does not disclose Eligibility: Available in all states except WI Min. income: Does not disclose Customer service: Phone, chat Soft credit check: Yes Min. credit score: Does not disclose Time to get funds: 1 - 3 days
Show details	3, 4, 5	$5,000 to $45,000 (depending on loan type)
Rates: Fixed Loan terms (years): 3, 4, 5 Loan amount: $5,000 to $45,000 (depending on loan type) Fees: None Discounts: Autopay Eligibility: Available in all 50 states Min. income: None Customer service: Phone, email, chat Soft credit check: Yes Min. credit score: 660 Time to get funds: 7+ days
Show details	3	$1,000 - $35,000
Rates: Fixed Loan terms (years): 3 Loan amount: $1,000 - $35,000 Fees: None Discounts: None Eligibility: Does not disclose Min. income: Does not disclose Customer service: Phone Soft credit check: Yes Min. credit score: Does not disclose Time to get funds: Does not disclose
Show details	3, 5	$2,000 - $45,000
Rates: Fixed Loan terms (years): 3, 5 Loan amount: $2,000 - $45,000 Fees: Origination fee Discounts: Autopay Eligibility: Available in all states except IA, NV, and WV Min. income: Does not disclose Customer service: Phone, email Soft credit check: Yes Min. credit score: Does not disclose Time to get funds: Does not disclose
The lenders in this table aren't our partners. But you can use Credible to compare rates in 2 minutes from other lenders who offer personal loans. Get Rates Now

Citizens Bank: Best for loan discounts
Earnest: Best for comparison shopping
HSBC: Best for existing HSBC customers
Laurel Road: Best for borrowers who need a cosigner
PNC: Best for small loan amounts
Rocket Loans: Best for quick loan funding

Personal loans and COVID-19

Due to the COVID-19 pandemic, millions of people are unemployed and worried about making ends meet.

There has been an increased demand for personal loans to help people through these difficult times, and some credit unions, banks, and online lenders are offering lower interest rates as a result.

Keep in mind: Lenders might also have stricter eligibility requirements to ensure borrowers can afford to repay their loans.

If you have an outstanding personal loan and can’t afford your current payments because of coronavirus, contact your lender to discuss your options. Some lenders are providing special payment relief programs that might help.

For example: LightStream borrowers can apply for payment relief assistance online, and SoFi borrowers can apply to defer their payments for 30 days.

Some lenders are also offering coronavirus hardship loans to help people affected by the pandemic. These loans are generally small and come with favorable loan terms — sometimes even 0% interest.

Here are a few lenders providing coronavirus hardship loans:

Construction Battalion Center (CBC) Federal Credit Union: Offering small, short-term emergency loans up to $3,000 with reduced interest rates.
Gesa Credit Union: Offering emergency personal loans at low or even 0% interest.
Oak Ridge National Laboratory Employees (ORNL) Federal Credit Union: Offering unsecured loans with 0% APR for the first three months and 3% APR for the rest of the loan term.

Frequently asked questions about personal loans

Which is better: A credit card or a personal loan?
How to get the best personal loan rates
What interest rate can I expect?
What is a good APR for a personal loan?
How many years can I finance a personal loan?
How your credit score impacts your offer
How much will I qualify for?
What to use a personal loan for
How to apply for a personal loan
How fast can I get a personal loan?
Do personal loans hurt your credit?
Can I pay off my loan early?
What happens if I can’t pay back my loan?

Which is better: A credit card or a personal loan?

When deciding between a personal loan vs. credit card, the better option for you will ultimately depend on your needs and spending habits. Here are a few pros and cons to keep in mind as you compare the two:

	Pros	Cons
Credit Cards	Will have access to a revolving credit line that you can use repeatedly Could potentially earn rewards on your purchases Often come with benefits like extended warranty and return protections	Typically have higher interest rates than personal loans Monthly payment can fluctuate based on your spending habits Generally come with variable rates, meaning your rate could go up in the future
Personal loans	Usually have lower interest rates than credit cards Come with fixed monthly payments Will have a pre-set payoff date	Might be harder to qualify for if you have poor or fair credit Monthly payments are usually higher than a credit card’s minimum payments Might come with additional fees, such as origination fees

How to get the best personal loan rates

The rate you’ll be offered on a personal loan depends mostly on your credit score but also the loan repayment term. The shorter the loan term, the lower the interest rate offered by most lenders. But your monthly payment will also be higher since you’re making fewer of them.

To get the best rates on a personal loan:

Check your credit report and see if there’s anything you can do to improve your credit score
Request rates from multiple lenders
Choose the loan with the best interest rate and shortest repayment term you can afford

What interest rate can I expect?

Credible’s partner lenders offer personal loan rates starting at 4.99% (APR).

The interest rates you’ll be offered depend primarily on two factors:

Your credit score
The repayment term of the loan you choose
The lender you pick

What is a good APR for a personal loan?

The national average APR for personal loans was 9.41% as of the second quarter of 2019, so generally, an APR lower than this is good. For example, Credible’s partner lenders offer rates as low as 4.99%+ APR. Keep in mind that you’ll need to have excellent credit to qualify for the lowest rates.

How many years can I finance a personal loan?

Generally, personal loan terms range from three to seven years. Available terms vary by lender, so be sure to consider multiple lenders to find a term that fits your needs.

Also keep in mind that the longer the term, the more interest you’ll pay — so it’s usually a good idea to choose the shortest term you can afford.

How your credit score impacts your offer

Your credit score determines whether lenders will be willing to offer you a loan as well as the interest rate and terms.

Some lenders who compete for business through Credible will provide loans to borrowers with a credit score as low as 580. But the lower your credit score, the higher the interest rates you’ll be offered by lenders.

To give you an idea of what to expect, here are average minimum rates offered to borrowers who used Credible to request rates on personal loans.

How's your credit?	Credit score range	Average minimum rate
Excellent	750 - 850	13.93%
Good	700 - 749	18.33%
Fair	640 - 699	22.12%
Poor	300 - 639	26.62%
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.

How much will I qualify for?

How much you’ll qualify for when applying for a personal loan depends on two factors: the lender’s loan limit and how much of your available monthly income will be required to make your loan payments.

While some lenders will approve $100,000 personal loans, you’ll also have to meet their debt-to-income requirements.

What to use a personal loan for

A personal loan can be used for most personal expenses or purchases. However, some lenders have restrictions, such as not letting you use a personal loan for college tuition or refinancing student loans.

Some of the most common personal loan uses include:

Debt consolidation: If you have high-interest debt, using a personal loan to consolidate it might get you a lower interest rate. This could help you save money and pay off your balances faster.
Home improvements: A personal loan could be a good option to pay for home renovations, repairs, and more. Some lenders — such as LightStream and SoFi — offer personal loans up to $100,000, which could be a less risky option to fund large projects compared to a home equity loan or home equity line of credit (HELOC).
Unexpected expenses: If you have an emergency expense, such as car repair or vet bills, a personal loan could be a quick way to get the cash you need to cover it. Plus, if you have good credit, you might qualify for a lower interest rate than you’d get with a credit card.

How to apply for a personal loan

Check your credit report and fix errors that could be hurting your credit score
Determine how much you need to borrow and how much you can afford to pay each month
Request actual rates from multiple lenders
Pick the offer that best fits for your needs
Submit application and any required documents to lender

There are so many lenders offering personal loans that it pays to check around and see what rates, fees, loan terms, and monthly payments you’ll be offered. Credible makes it easy to check rates with our partner lenders without affecting your credit score.

How fast can I get a personal loan?

The time to fund for personal loans varies depending on the lender. However, if you’re approved, you’ll typically get your money within a week. With some lenders, you might even get the funds as soon as the next business day.

Do personal loans hurt your credit?

When you apply for a new loan, the lender will use a hard credit check to review your creditworthiness. This could cause a temporary drop in your credit score — typically five points or less.

However, this impact is usually only temporary, and your score will likely go back up in a few months.

Plus, if you make on-time payments on your new personal loan, you might see further improvements to your credit.

Can I pay off my loan early?

If you can afford it, paying off your loan early can be a great way to save money on interest charges. Many personal loan lenders don’t charge prepayment penalties (fees assessed if you pay off your balance before the loan’s end date), but some do.

Keep in mind that if you take out a loan with one of Credible’s partner lenders, you won’t have to worry about prepayment penalties.

What happens if I can’t pay back my loan?

Most personal loans are unsecured and don’t require collateral, so your assets aren’t at risk if you default on your loan. However, that doesn’t mean there aren’t consequences.

If you fall behind on your loan payments, the lender will report it to the credit bureaus, which could severely damage your credit score.

A loan default can remain on your credit report for up to seven years, which could affect your eligibility for other types of credit later on.

Keep in mind: Lenders can also send your account to collections and pursue legal action against you to force you to repay the loan.

Personal loan terms you should know

If you’re shopping for a personal loan, it’s important to understand the various terms you might come across so you can choose the right loan for you. Here are several common terms to keep in mind:

Rate: This refers to the annual percentage rate (APR) on the loan. Your APR affects how much interest you’ll be charged over the life of the loan. The higher the APR, the more you’ll pay in interest.
Term: This is how long you’ll have to repay the loan. Keep in mind that while a longer loan term will give you a smaller monthly payment, you’ll pay more in interest charges over time.
Credit score: Your credit score is a three-digit number between 300 and 850. Lenders look at your credit score and credit history to decide whether to approve you for a loan. Generally, the higher your credit score, the more creditworthy you are to lenders. You’re also more likely to qualify for a lower interest rate if you have good credit.
Variable and fixed interest rates: Your interest rate can be variable or fixed. Variable rates can change over time, while fixed interest rates stay the same for the duration of your loan. If you have a variable-rate loan and the APR increases, your monthly payments will go up, and you’ll likely pay more in interest charges over the life of your loan. Here’s how a change in interest rate on a variable-rate loan might compare to a fixed-rate loan:

	Variable-Rate loan*	Fixed-Rate loan*
Loan amount	$20,000	$20,000
Loan term	2 years	2 years
APR	5% to 7%	5%
Monthly payment	$877 to $887	$877
Total repaid	$21,171	$21,058
^{*Variable-rate example assumes that the interest rate increases by 2% after the initial 12 months, and remains at 7% for the remainder of the loan term.}

Credible’s partner lenders

Avant: Fair or poor credit
Axos Bank: Debt consolidation, home improvement, good or excellent credit
Best Egg: Home improvement, good or excellent credit
Discover: Debt consolidation, good or excellent credit
FreedomPlus: Debt consolidation, fair or poor credit
LendingClub: Debt consolidation, home improvement, good or excellent credit
LendingPoint: Fair or poor credit
LightStream: Debt consolidation, home improvement, good or excellent credit
Marcus: Good credit, debt consolidation, home improvement
OneMain Financial: Fair or poor credit, home improvement, debt consolidation
Payoff: Debt consolidation
PenFed: Home improvement, debt consolidation
Prosper: Home improvement, debt consolidation
SoFi: Debt consolidation
Upgrade: Home improvement
Upstart: Good credit, debt consolidation

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

Kat Tretina

Kat Tretina is a contributor to Credible who covers everything from student loans to personal loans to mortgages. Her work has appeared in publications like the Huffington Post, Money Magazine, MarketWatch, Business Insider, and more.

Home » All » Personal Loans » 16 of the Best Personal Loan Companies

16 of the Best Personal Loan Companies