A personal loan is a flexible financial tool that can be used for nearly any purpose, from consolidating debt to renovating your home to getting through a financial rough patch. But because a $60,000 loan is relatively large, lenders may have stricter qualifications — and fewer lenders offer them. We'll show you where to get a $60,000 loan, how likely you are to qualify based on your credit score, and how much it could cost.
Compare rates on $60,000 personal loans
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.
Keep origination fees in mind
Many lenders charge origination fees that are deducted upfront from the loan amount and included in the APR along with the interest rate. With larger loans, origination fees can be steep. If you paid a 5% origination fee on a $60,000 personal loan, it would amount to $3,000. You'd receive $57,000 but still have to pay back $60,000, plus interest.
Where to get a $60,000 loan
Banks, credit unions, and online lenders may offer $60,000 loans. However, many lenders cap loans at $50,000 — or even lower. As a result, you’ll have fewer options when seeking a $60,000 loan. Plus, you'll need to have the income and credit score to qualify for a $60,000 loan.
The good news is there are still a handful of online lenders that offer $60,000 loans, including the following Credible partners. Other lenders offering $60,000 loans include Wells Fargo, Navy Federal, USAA, and Alliant.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
LightStream: Best overall
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Expert Insights
We rated Lightstream 4.9 out of 5 stars and named it our best personal loan lender, overall. It's a true no-fee lender that stands out for industry-low rates, high available loan amounts, an extensive range of allowed loan uses, funding as soon as the same day, and long repayment terms. Notably, rates on LightStream loans closed via Credible were the lowest among all Credible partner lenders for borrowers with good, very good, and excellent credit, according to 12 months of Credible personal loans marketplace data.
Note: LightStream does not let you prequalify on its site — but you can prequalify through Credible.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
SoFi: Best online bank loans
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Expert Insights
We rated Sofi 4.9 out of 5 stars, making it our top scoring bank offering personal loans. SoFi offers high loan amounts, competitive rates, as soon as same-day funding, and long loan terms, plus discounts for autopay and direct pay. Plus, SoFi offers live chat and free financial advice for customers. Unlike many other online lenders, SoFi is an FDIC-insured bank, which means SoFi is a direct lender and does not partner with a third party to originate loans. It also means that you could have your checking, savings, and loan accounts all in one place. Unlike other lenders, SoFi doesn't specify a credit score minimum. It also has optional origination fees — you might elect to pay one to reduce your interest rate. Minimum loan amounts start at $5,000.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
LendingClub: Best rates for most credit scores
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Est. APR
6.53 - 35.99%
Loan Amount
$1,000 to $60,000
Min. Credit Score
600
Expert Insights
We rated LendingClub 4.5 out of 5 stars — LendingClub stands out for low rates on closed loans to borrowers across the credit score spectrum. Based on 12 months of Credible personal loan data, borrowers with fair credit and higher received the second-lowest interest rates, on average, compared to all other Credible partner lenders. This plus a low minimum income requirement, nationwide availability, and a mobile app makes LendingClub one of our top picks, especially for debt consolidation loans. One downside is that LendingClub may charge an origination fee between 0% and 8%.
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
Upstart: Best for easy prequalification
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Est. APR
6.60 - 35.99%
Loan Amount
$1,000 to $75,000
Min. Credit Score
620
Advertiser Disclosure
We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.
BHG Financial: Best for large debt consolidation loans
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. We collected thousands of data points on dozens of lenders for personal loans, mortgages, and student loans. Specific criteria vary by loan type, but generally include interest rates, loan terms, eligibility requirements, transparency, funding times, repayment options, fees, discounts, customer service, cosigner options, and more.
Read our full methodology.
Est. APR
-
Loan Amount
$20,000 to $250,000
Min. Credit Score
640
Approval estimates for $60,000 loans
We looked at how likely potential borrowers were to qualify for a $60,000 loan based on a year's worth of prequalification data from the Credible personal loan marketplace. Prequalification is not an offer of credit or a guarantee of approval. But a high prequalification rate for your credit score tier could indicate a higher chance of being approved.
Data are for borrowers who used the Credible marketplace from March 2025 through February 2026 and successfully prequalified for a $60,000 loan (+/- $2,500). Source: Credible
Top loan purposes of $60,000 loans
Most people who got a $60,000 loan through Credible used it for debt consolidation. Credit card refinancing and home improvement were the next most common ways to use a $60,000 loan.
Loan purposes are for closed $60,000 loans (+/- $2,500) from March 2025 through February 2026 with average borrower TransUnion V9 credit scores. Source: Credible
What to consider before taking out a $60,000 loan
Here’s what you should consider before applying for a $60,000 loan.
- Know your credit profile: You’ll typically need good or excellent credit (a FICO score of 670 or higher) and may need to meet certain income requirements. You should also make sure there are no delinquent accounts or recent missed payments on your credit report. You can visit AnnualCreditReport.com for free credit reports. You can also get your free credit score from Credible.
- Check your budget: Personal loan terms typically range from 2 to 7 years. As a result, even with a long loan term, you should expect a large monthly payment. Check your budget ahead of time to ensure you can fit the payment in with your other expenses.
- Run the numbers to ensure a personal loan is the right option: Personal loans are flexible and can be used for many purposes, but it’s important to consider all of your options before borrowing. Consider whether home equity loans or a home equity line of credit (HELOC), for example, might be more cost-effective. Just remember that those loans are secured by your home, so you could face foreclosure if you can’t make payments.
- Compare your options: Shop around and compare your options before choosing a loan. Many lenders allow you to prequalify, which won’t impact your credit score.
Pros and cons of a $60,000 loan
A $60,000 personal loan can be an excellent solution for some situations, but be aware of the benefits and risks before borrowing:
Pros
- Can be used for almost anything
- Lower APRs than credit cards
- No collateral required
- Positive impact on credit
Cons
- Fewer lenders to choose from
- Requires fair or better credit
- Higher monthly payments/longer repayment term
- Initial impact on credit
Pros
- Can be used for almost anything: One of the key benefits of personal loans is they can be used for nearly any legal purpose. Though some lenders have some restrictions, you can typically use them for debt consolidation, large purchases, financial emergencies, and more.
- Lower APRs than credit cards: Personal loans generally have far lower annual percentage rates (APRs) than credit cards. According to Federal Reserve data, the average interest rate on two-year personal loans was 11.65%, and the average credit card interest rate was 20.97%. The APR represents the total cost of borrowing on an annual basis, and accounts for the interest rate and any upfront fees the lender charges. Whether you’re making a large purchase or consolidating credit card debt, you could save a lot by choosing a personal loan over a credit card.
- No collateral required: Personal loans are typically unsecured, which means they don’t require collateral.
- Positive impact on credit: A personal loan can help your credit over time if you make on-time payments. If you’re consolidating credit card debt, you could see a jump within one month of using the loan to pay off your balances. However, most lenders conduct a hard credit pull when you apply, which could initially ding your score by a few points.
Cons
- Fewer lenders to choose from: There are only a handful of lenders that offer personal loans of more than $50,000. This could make it more difficult to find one that fits your needs.
- Requires fair or better credit: It's best to have good or excellent credit to qualify, though around 34% of applicants with fair credit were able to prequalify for a $60,000 loan, according to Credible personal loans data. Some lenders offer personal loans to borrowers with bad credit, but they generally don’t offer loans as high as $60,000.
- Higher monthly payments/longer repayment term: A $60,000 loan will result in significantly higher monthly payments than a smaller loan. As a result, you may need to choose a longer repayment term, which could tie up resources you might use for other life goals like saving or home improvements.
- Initial impact on credit: Though a personal loan can improve your credit score if managed responsibly, it can also hurt it in the short term. Not only will most lenders perform a hard inquiry when you apply, but you’ll also be adding a new account with a high balance to your credit report.
How much will a $60,000 loan cost?
The cost of a $60,000 loan depends on your interest rate, upfront fees, and the repayment term you choose. Your interest rate can be affected by several factors, including your credit score, debt-to-income ratio (DTI), and more. However, the most important factor is your credit score. The higher your credit score, the lower the interest rate, in most cases.
A good credit score can save you hundreds of dollars per month in interest, especially on a large loan, potentially saving you tens of thousands of dollars over the life of the loan.
Cost comparison: $60,000 loans at different APRs
The graph below illustrates how different APRs will affect how much you'll pay over the life of the loan.
Editor insight: “As the loan amount you need to borrow increases, so does the dollar amount of interest you'll pay. For large loans, like a $60,000 loan, aim to keep interest costs down by choosing the shortest repayment term you can afford. Your monthly payment will be higher, but your APR will likely be lower, and you'll pay interest for a shorter period of time — drastically reducing costs.”
— Meredith Mangan, Senior Loans Editor, Credible
Calculate interest costs and payments on a $60K loan
If you decide to take out a personal loan, use a personal loan calculator to estimate monthly payments and overall interest costs based on APR and term length. Keep in mind that a longer repayment term typically means smaller monthly payments but higher interest costs over the life of the loan.
How to get a $60,000 loan
Getting a $60,000 personal loan takes a few relatively simple steps. Here’s how to get started:
- Check your credit score: As mentioned earlier, it's best to have good or excellent credit to qualify for a $60,000 personal loan. If you can't qualify on your own, consider getting a joint personal loan with a co-borrower who has good credit. Keep in mind that only a few lenders, such as LightStream, LendingClub, and SoFi, offer $60,000 personal loans and joint personal loans.
- Get prequalified: Most lenders let you prequalify for a loan to gauge eligibility and estimate your rate without impacting your credit. Keep in mind that prequalification doesn’t guarantee approval, is not an offer of credit, and your final rate may differ. You can prequalify with all the lenders on this page by clicking “Check Rates” above.
- Complete your loan application: You’ll have to provide your contact information, Social Security number, information about your employment, income, and more. Once you submit the application, most lenders will perform a hard credit inquiry, which can temporarily lower your credit score.
- Additional documentation: Your lender may ask for additional information, such as tax statements or other proof of income.
- Receive your loan funds: Depending on the lender, your loan application could be approved right away. Some lenders are able to provide funds the same day you're approved, provided you sign all necessary documentation by the lender's same-day funding cutoff time. But most deliver funds within a few business days.
Learn More: How Long Does It Take To Get a Personal Loan?
Where we get our data
FAQ
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