Skip to Main Content
Advertiser Disclosure

In each article, Credible will identify if the lender is a partner lender. If the lender is described as a partner or partner lender, Credible receives compensation from the lender. Compensation will not impact how or where products appear on the Credible platform when requesting prequalified rates and loans. Not all lenders participate in the Credible marketplace. Any opinions, analyses, reviews, or recommendations expressed in these articles are those of Credible (and the author) alone and have not been reviewed, approved, or otherwise endorsed by any lender or other provider.

How To Get a $30,000 Loan

A $30,000 personal loan can help you cover a large purchase or unexpected expense.

Author
By Anna Baluch

Written by

Anna Baluch

Freelance writer

Anna Baluch is a personal finance writer with over six years of experience. Her work has appeared on CNN, New York Post, and U.S. News & World Report.

Written by

Anna Baluch

Freelance writer

Anna Baluch is a personal finance writer with over six years of experience. Her work has appeared on CNN, New York Post, and U.S. News & World Report.

Edited by Meredith Mangan

Written by

Meredith Mangan

Senior editor

Meredith Mangan is a senior editor at Credible. She has more than 18 years of experience in finance and is an expert on personal loans.

Written by

Meredith Mangan

Senior editor

Meredith Mangan is a senior editor at Credible. She has more than 18 years of experience in finance and is an expert on personal loans.

Reviewed by Barry Bridges
Barry Bridges

Written by

Barry Bridges

Editor

Barry Bridges is the personal loans editor at Credible. Since 2017, he’s been writing and editing personal finance content, focusing on personal loans, credit cards, and insurance.

Barry Bridges

Written by

Barry Bridges

Editor

Barry Bridges is the personal loans editor at Credible. Since 2017, he’s been writing and editing personal finance content, focusing on personal loans, credit cards, and insurance.

Updated September 3, 2025

Editorial disclosure: 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.”

Featured

A $30,000 personal loan can be used to pay for almost anything, including debt consolidation, credit card refinancing, home improvements, emergency expenses, family planning, and more. 

We'll show you where to find $30,000 loans, how to improve your application and lower your rate, and the APR you might expect to pay based on your credit score.

Where to get a $30,000 loan

You can find $30,000 loans from a few different places:

  • Online lenders: If you need fast cash, a loan from an online lender may be your best bet. The application process takes place entirely online and depending on the lender, you can receive your funds the same day you get approved or in a few business days.
  • Banks: Many banks, from nationwide companies to local lenders, offer personal loans in addition to other products like checking and savings accounts. If you already have an account with a certain bank, you might be able to turn to them for a competitive APR on a loan.
  • Credit unions: Because they're nonprofit organizations, credit unions can often have lower APRs than banks. They may also have more flexible requirements, but you may have to become a member to apply for a loan.

Check Out: Best Same-Day Loans

Approval estimates for $30,000 loans

We crunched a year's worth of data to find the average rates that borrowers using the Credible marketplace received, and how likely they were to prequalify for a $30,000 loan. Not surprisingly, borrowers with excellent credit received the lowest rates and were the most likely to qualify.

Credit score range
Avg. interest rate
Avg. borrower income
% Prequalified
Excellent
10.85%
$123,837
93.5%
Very Good
12.54%
$119,030
85.4%
Good
17.47%
$104,404
73.3%
Fair
25.70%
$94,766
34.2%

Data are for borrowers who used the Credible marketplace from September 2024 through August 2025 to shop for a $30,000 loan. Source: Credible

Interest rates for $30,000 loans by loan purpose and credit score

In addition to your credit score, lenders consider how you want to use the loan when determining what APR to offer. The graph below shows how APRs varied for different loan purposes for borrowers who used the Credible personal loan marketplace. For example, borrowers with fair credit received the best rates when using a personal loan to refinance credit cards.

Most people who got a $30,000 loan through Credible used it for debt consolidation or credit card refinancing.

Types of $30,000 loans

There are two types of $30,000 personal loans, unsecured and secured loans. They share basic similarities such as:

  • They provide a lump sum that you repay with interest through fixed monthly payments.
  • Repayment terms typically range from 2 to 7 years.
  • The cost of borrowing is measured in the annual percentage rate (APR), which accounts for both the interest rate and any upfront lender fees. Personal loan APRs typically range between 6.49% and 35.99%.
  • They often have lower APRs than credit cards. The average APR for a 24-month personal loan was 11.57%, while the average credit card APR was 21.16%, according to the Federal Reserve.

However, unsecured and secured loans aren't alike in all respects.

Unsecured loans

Most personal loans are unsecured. Unsecured personal loans don't require you to put up an asset as collateral. Lenders focus only on your financial qualifications, such as your credit score, income, and overall credit history. You may need good to excellent credit to qualify for an unsecured $30,000 personal loan.

Compare: Personal Loan vs. Credit Card

Secured loans

These loans are secured by collateral, like a house, car, or investment accounts. Lenders tend to view secured personal loans as less risky than unsecured loans, since they can seize the borrower's collateral if they default on the loan. While secured loans can have lower APRs and be easier to qualify for, you also risk losing your collateral if you fall behind on payments.

Cost of a $30,000 loan

The cost of a $30,000 loan ends up being more than $30,000, but how much more depends entirely on your repayment term, APR, and fees. The longer your term and higher your APR, the more you will pay in interest over the life of your loan.

The following factors contribute to the cost of a personal loan:

  • Repayment term: This is the amount of time you have to repay your loan, and it might range from 2 to 7 years in most cases, depending on the lender and what you use the loan for. You agree on a repayment term when opening a loan and typically make fixed monthly payments for the duration of this term. A longer term often means making lower monthly payments but paying more in interest, but you might get a lower APR on a shorter loan term (though this depends on your credit profile).
  • APR: The APR represents the total cost of your loan on an annual basis. It includes the interest rate and upfront fees, which makes it a better tool for comparison purposes than relying on the interest rate alone. Lenders are legally required to show you your APR in the terms of your loan contract.
  • Fees: Many personal loan lenders charge origination fees when you take out your loan. These fees are typically deducted from the loan proceeds, meaning you would receive less money than you requested if charged one. Origination fees can range from less than 1% to as much as 15% and are included in the APR.

$30,000 loan cost comparison

This graph illustrates how different APRs can affect how much you'll pay over the life of the loan. The difference in total interest costs can be particularly significant on larger loan amounts. 

Expert insight: “If you need to borrow $30,000 with fair or bad credit, try to improve your score first. Even a few percentage points difference could mean thousands of dollars saved, which could be well worth the wait.”

— Meredith Mangan, Senior Loans Editor, Credible

How to qualify for a $30,000 loan

Requirements to qualify for a $30,000 personal loan can vary but most lenders typically evaluate the following factors.

  • Credit profile: Lenders may review your credit score and history to determine how much of a risk you are. The lower your credit score, the higher your APR tends to be. For example, a credit score below 550 may result in an APR over 30% if you can find a lender that will approve your loan.
  • Income: If you're requesting a loan amount of $30,000, lenders will verify that you have a high enough income to repay that amount back, plus interest. Many lenders have minimum income requirements, so shop around to find the right one for you.
  • Debt-to-income ratio (DTI): Your DTI tells a lender how much of your current gross monthly income goes toward debt payments each month. This factor gives insight into whether or not you can afford another payment. Most lenders prefer a DTI of less than 36% for personal loans.

Learn More: What Are the Requirements for a Personal Loan?

How to apply for a $30,000 loan

If you're interested in a $30,000 loan, here are the steps to apply:

  1. Check your credit score and credit report: Get your credit score for free using Credible's free credit monitoring tool. Also, visit AnnualCreditReport.com to pull free copies of your credit reports from the three major credit bureaus. You can dispute any errors and possibly improve your credit score.
  2. Shop around: Not all $30,000 loans are created equal. Research and explore options from different lenders so you can zero in on the ideal loan for you. Compare APRs, fees, and terms.
  3. Prequalify: You can prequalify with multiple lenders and it won't impact your credit score, however applying for the loan may. Prequalification is not an offer of credit and the final rate you receive may be different from the estimate.
  4. Fill out an application: After you determine the right $30,000 loan for you, complete the application online or in person. Be prepared to submit documents, like your pay stubs and bank statements. Lenders typically perform a hard credit pull once you apply, which can bring your score down temporarily.
  5. Get your funds: Upon approval, most lenders can distribute your funds via direct deposit as soon as the same or next business day. Some lenders may take up to a week.

Learn More: How Long Does It Take To Get a Personal Loan?

How to get a $30,000 loan with bad credit

If you have bad credit, you may still be able to get a $30,000 loan. These tips can increase your chances of qualifying with bad credit.

  • Consider secured loans: Secured loans require collateral or something valuable you own, like your home, car, or savings account. They may be easier to get than unsecured loans, and can often have lower APRs. But if you default, the lender can seize your collateral.
  • Explore credit unions and community banks: Credit unions and community banks tend to have more lenient qualification requirements than banks or some online lenders. You also may be more likely to get approved for a $30,000 loan if you're already a customer of the bank or credit union.
  • Get a cosigner: A cosigner can be your spouse, parent, or anyone else you trust who has solid credit and stable income. They're responsible for paying the loan back if you miss payments or default. If you apply with a cosigner, you might be able to land a $30,000 loan that you wouldn't qualify for on your own. However, not all lenders accept cosigners.
  • Apply for a joint personal loan with a co-borrower: Co-borrowers are also responsible for payments and can help you get approved. However, unlike a cosigner, a co-borrower has equal access to the funds.
  • Improve your credit: Pay your bills on time, repay debt, and keep old credit accounts open. By doing so, you can boost your credit score and the likelihood of approval.

Related: Ways To Pay Off Debt Fast

Personal loans for bad credit

Advertiser Disclosure

The rates that appear are from companies from which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lenders' available services and product offerings.

All APRs reflect autopay and loyalty discounts where available | Read more about Rates and Terms | Terms of Service | Privacy Policy

FAQ

How much would a $30,000 loan cost per month?

Open

How hard is it to get a $30,000 loan?

Open

What is a secured personal loan vs. unsecured?

Open

Disclosure: Some lending partners that participate in Credible’s comparison marketplace offer loans to borrowers with scores as low as 550. Borrowers with low scores will have fewer lending options than borrowers with higher credit scores.

Meet the expert:
Anna Baluch

Anna Baluch is a personal finance writer with over six years of experience. Her work has appeared on CNN, New York Post, and U.S. News & World Report.