With a personal loan, you can use the funds for almost anything, from paying off high-interest debt to funding a large purchase. But your loan agreement may prohibit you from using the money for certain expenses, like college tuition or gambling.
You may also face restrictions from lenders if you try to use personal loan funds as a down payment on a mortgage. There are alternative financing options for these restricted purposes, however.
College tuition
Most personal loan lenders restrict borrowers from using personal loan funds for post-secondary education expenses. Lenders that allow loan funds for college expenses are typically required to comply with the requirements of the 2008 Higher Education Opportunity Act, which many lenders view as burdensome.
For example, private education lenders must provide certain disclosures, allow a review period, and give borrowers the right to cancel their loan agreement within three days of fund distribution. Most lenders prefer to avoid the regulations, so they won't issue loans to borrowers who intend to use the funds to pay for post-secondary education.
Alternative option: The good news is that grants, scholarships, and work-study arrangements can be used to fund college expenses without borrowing. And if you still need a loan, both federal student loans and private student loans come with lower average interest rates than personal loans. Parent PLUS loans are another option for some families.
Business expenses
Some lenders allow you to use a personal loan to start or grow your business, while others explicitly prohibit using personal loans for business expenses. However, even if you can qualify for a personal loan at a low rate and the lender allows you to use the loan, there are risks to going this route. If your business idea fails and you can't afford repayment, you'll damage your personal credit score.
Alternative option: Consider looking into whether you qualify for a Small Business Administration loan instead. You'll enjoy lower rates and higher borrowing amounts, and you can deduct the interest you pay on your tax return. But if your business is new or you can't qualify for a business loan for other reasons, consider lenders that offer personal loans for business use.
You may also apply for a business credit card with a 0% introductory APR offer to cover minor expenses.
Making a down payment on a home
Most conventional and government-backed mortgage lenders don't allow you to use personal loan funds as a down payment on a mortgage, even if it's allowed in the terms of your personal loan agreement.
While it's possible to find a mortgage lender willing to issue a home loan with a borrowed down payment, the outstanding personal loan will increase your debt-to-income ratio. It will also potentially lower your credit score, at least initially. That could mean you'll pay a higher mortgage rate.
Alternative option: Saving enough for a down payment can seem overwhelming, but it's possible to get a first-time conventional mortgage with as little as 3% down. And if you deposit your savings into a high-yield savings account, you'll grow your money faster and be ready for homeownership sooner than if you used a traditional bank account.
Learn More: Can You Use a Personal Loan for a Down Payment?
Gambling or illegal purchases
Most personal loan lenders restrict you from using the money to gamble or engage in illegal activity, like buying narcotics. And you'll need to be honest on your application about how you plan to use the money.
Lying on a loan application violates the law and could be considered bank fraud, which is punishable by a prison sentence up to 30 years and/or a maximum fine of $1,000,000. If you use the money to commit illegal acts, you'll also be subject to the criminal repercussions for those crimes.
Lender-specific restrictions
As noted, the general rule of thumb is that you can't use your loan for college tuition, business expenses, a down payment for a home, gambling, or illegal activities. However, lenders may have specific restrictions that go further. Here's a look at some prohibited loan uses from seven prominent lenders. Refer to the lender's website or customer service agent to verify all prohibited uses.
Citi
- Postsecondary education expenses
- Business expenses
- Debt consolidation for credit cards issued by Citibank or its affiliates, or Checking Plus and Ready Credit accounts
SoFi
- Postsecondary education
- Real estate
- Business purposes
- Investments
- Purchases of securities
- Short-term bridge financing
LightStream
- College or postsecondary educational expenses
- Refinancing student loans
- Business purposes
- Cash-out refinancing
- Refinancing an existing LightStream loan
- Purchasing bonds, stocks, or stock options or paying back a loan against a stock option
- Purchasing cryptocurrency
- Contributing to a retirement, life insurance, or education savings plan
OneMain Financial
- Postsecondary education expenses
- Business or commercial purposes
- Purchasing cryptocurrency
- Purchasing speculative investments such as securities and derivatives
- Gambling
- Illegal activity
LendingClub
- Postsecondary education
- Investing
- Cryptocurrency
- Illegal activity
Prosper
- Postsecondary education
BestEgg
- Postsecondary education expenses
- Investing
- Illegal activity
What you can use a personal loan for
Personal loans can be used for virtually any other purpose not mentioned above. Some common ways to use personal loan funds include:
- Consolidating high-interest debt
- Paying for medical or veterinary expenses
- Covering an auto or home repair
- Making a large and necessary purchase
- Paying for moving expenses
- Planning a wedding or vacation
Though personal loans can be used for almost anything, you should only borrow what you need and what you can afford to repay over time. For example, it's not a good idea to take out a personal loan to shop a big sale at your favorite department store. In most cases, budgeting and saving for what you need is a better option than borrowing.
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.
Lender
Fixed (APR)
Loan Amounts
Min. Credit Score
Credible rating
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.
6.49% - 25.29% 2
$5,000 to $100,000
700
Overview
LightStream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses. Plus, rates on LightStream personal loans were the lowest among all Credible partner lenders, on average, for borrowers with good, very good, and excellent credit, according to Credible personal loans data over the past year. There are no origination fees and loans can be used for a wide range of purposes
Funds are available as soon as the same day you apply, and you'll have up to 20 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans.
Unlike most lenders, LightStream does not let you prequalify on its site — but you can prequalify through Credible. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
pros
- Same-day funding available
- High maximum loan amount
- No origination fee
cons
- Good credit required
- No prequalification process
- Not available in Vermont
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
Does not disclose
Customer service
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible rating
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.
6.60% - 35.99%
$1,000 to $50,000
620
Overview
More borrowers are able to prequalify with Upstart compared to all other Credible partners, based on Credible personal loans data. This could make the lender a good choice if you have at least fair credit and have struggled to qualify with other lenders. It also offers loans as low as $1,000, which makes it a good choice if you need a small loan. Just know that Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed. However, it received a below average score in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study.
pros
- May fund in 1 business day
- 300 minimum credit score in most states
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Loan amount
$1,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Credible rating
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.
6.99% - 35.99%
$2,000 to $50,000
600
Overview
Best Egg is a solid lender for a wide range of borrowers. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, which means borrowers with fair credit are eligible. Plus, Best Egg is one of a handful of Credible partner lenders to offer secured loans, and the only one we know of that offers loans secured by the fixtures in your home. This can be a great way for homeowners to lower their rate, while not putting their actual home up as collateral.
However, Best Egg loans may have an origination fee, which ranges from 0.99% to 9.99% of the loan amount.
pros
- Secured loans available
- Low minimum income requirement
- Wide range of loan purposes allowed
- Funds in 1-3 business days
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Loan amount
$2,000 to $50,000
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Discounts
None
Eligibility
Available in all states except DC, IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible rating
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.
7.90% - 35.99%
$1,000 to $60,000
660
Overview
LendingClub makes loans to borrowers across the credit spectrum and stands out for its low rates, based on Credible personal loan data. The lender had some of the lowest APRs for borrowers with fair credit (FICO 580 - 669), very good credit (FICO 740 - 799), and excellent credit (FICO 800+), compared to other Credible partner lenders. The lender has a low minimum income requirement, wide availability, and offers a mobile app for streamlined loan management.
LendingClub may charge an origination fee between 3% and 8%.
pros
- Mobile app
- Low minimum income requirement
- High close rate on loans made through Credible
- Available in all states
cons
- Origination fee
- No discounts
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
Credible rating
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.
7.95% - 29.99%
$5,000 to $40,000
640
Overview
Happy Money has been in operation since 2009 (formerly known as Payoff). It's an option for fair-credit borrowers (plus those with better credit), and notably has a relatively low top-end APR. In other words, you could qualify for a lower rate with Happy Money with fair credit, relative to other lenders that offer fair-credit loans. The company does charge an origination fee on some loans, up to 5%, but that's not as high as some other lenders' origination fees.
You should be prepared to wait a few days to get your money, as funding can take three to five days once approved. And loans aren't available in Massachusetts or Nevada. Happy Money has an A+ rating with the BBB and is ideal for debt consolidation and credit card consolidation loans.
pros
- Mobile app
- Live chat
- Low maximum APR
cons
- Limited loan terms available
- No discounts
- Origination fees
- Not available in IA, MA or NV
Loan amount
$5,000 to $40,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Credible rating
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.
-
$5,000 to $50,000
680
Overview
It’s worth considering a personal loan through Splash if you have good credit (ideally, a FICO score above 700). The platform offers loans from a wide range of lenders, and next-day funding is available. Plus, Splash has a live chat feature so you can get real-time answers without having to wait on hold or for an email. Loans are available up to $100,000 if you apply via Splash’s website.
Rates are competitive, but borrowers with excellent credit may find lower APRs elsewhere. If you need a repayment term longer than five years, you’ll need to look elsewhere as well.
pros
- Excellent customer reviews on Trustpilot
- Funding as soon as the next business day
- Large loan amounts available
cons
- Possible origination fee up to 7.49% (through Credible)
- Other lenders may have lower starting APRs
- No cosigner option
Loan amount
$5,000 - $100,000 (up to $50,000 on Credible)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Credible rating
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.
-
$2,000 to $30,000
740
Overview
Citi offers no-fee personal loans to borrowers with very good credit (a FICO credit score of 740 or higher). No-fee means no origination fees and no late fees, and Citi is one of few lenders that don’t charge either. (Origination fees are deducted from the loan upfront, reducing the amount you receive).
The company also offers a generous 0.50 percentage point autopay discount and makes same day funding available to current Citi customers. However, Citi requires a relatively high credit score to qualify and caps the amount you can borrow at $30,000, which is less than most of its competitors.
Citi came in second for overall customer satisfaction in J.D. Power's 2025 Consumer Lending Satisfaction Study.
pros
- No minimum credit score required
- No origination fees
- Autopay discount
- 2nd in J.D. Power's Consumer Lending Satisfaction Study
- 100% digital process
cons
- Max loan amount is lower than most lenders
- High credit score required
Loan amount
$2,000-$30,000
Fees
None
Discounts
0.5% APR autopay discount
Eligibility
N/A
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
Time to get funds
Same day with an existing Citi account, or within 2 business days with a non-Citi account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Credible rating
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.
-
$5,000 to $50,000
652
Overview
Jenius Bank offers personal loans for fair and better credit with competitive features, including a low maximum APR, an autopay discount, and no origination fees. Funding is available as soon as the next business day and repayment terms can extend up to six years. The bank also offers a mobile app for convenient management.
However, potential drawbacks include a high minimum loan amount, a low Trustpilot rating, and the unavailability of joint loans.
pros
- Low maximum APR
- Autopay discount
- Next-day funding
- Fair-credit eligible
- Mobile app
- No origination fees
- Terms up to 6 years
cons
- High minimum loan amount
- Low customer service ratings
- No joint loans
Loan amounts
$5,000 - $50,000
Fees
None
Discounts
Autopay
Eligibility
All states except HI, NV, WI
Min. income
N/A
Customer service
Mobile app; 24/7 telephone support
Soft credit check
Yes
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
Credible rating
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.
7.99% - 35.99%
$1,000 to $40,000
660
Overview
Reach is an option if you have fair credit, especially if you need money fast. According to the company, 90% of Reach personal loans are funded within one day of approval.
It's a good choice for debt consolidation and credit card refinancing, but borrowers with excellent credit may not find the lowest rates with Reach. The company also charges more fees than some of its competitors and doesn't offer direct pay or autopay discounts. If you need a 7-year term loan, you'll need to look elsewhere. Reach personal loans are not available in all states.
pros
- Fast funding
- Can improve credit
- Fair-credit borrowers may be eligible
cons
- Limited use
- No direct pay discount
- Origination fee
- Limited availability: Not available in CO, CT, ME, NV, NH, TN, VT, WV, or WY
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Credible rating
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.
7.99% - 35.99%
$1,000 to $50,000
580
Overview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers and borrowers with low annual incomes. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
- Low annual income requirement
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
Loan amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000
Customer service
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Credible rating
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.
7.99% - 35.99%
$2,000 to $25,000
660
Overview
LendingPoint is a fintech lender that incorporates AI and data analysis in addition to considering your credit score. It offers personal loans for a variety of uses, including debt consolidation, credit card refinancing, and home improvement, with funding as soon as the next business day. You can also manage your account using LendingPoint's mobile app.
With low starting APRs and a mid-600s credit score minimum, LendingPoint is best suited for borrowers with fair credit or a limited credit history looking for smaller loans. Some borrowers with good credit may also benefit from a LendingPoint loan. But borrowers with excellent credit can find lower APRs and larger maximum loan amounts with other lenders.
pros
- Multiple loan terms
- Low minimum APR
- Funds as soon as the next business day after approval
- Trustpilot score of 4.9/5 stars
cons
- Origination fee
- No discounts
- Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Credible rating
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.
8.99% - 35.49% 1
$5,000 - $100,000
Does not disclose
Overview
SoFi personal loans feature high loan amounts, competitive interest 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 makes loans directly 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.
To qualify for an unsecured loan, it's best to have good credit. But unlike other lenders, SoFi doesn't specify a credit score minimum. It also has optional origination fees — you might elect to pay on to reduce your interest rate. Minimum loan amounts start at $5,000.
pros
- Large loan amounts available
- Autopay and direct pay discounts
- Same day funding
- Long loan terms available
cons
- Not transparent about minimum credit score requirements
- 5,000 minimum loan amount
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all states
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Loan uses
Solely for personal, family, or household uses
Credible rating
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.
8.99% - 35.99%
$2,000 to $50,000
640
Overview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA and WV
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
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
Credible rating
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.
-
$4,000 to $45,000
680
Overview
Rocket Loans delivers no-frills same-day personal loans with a generous autopay discount to good-credit borrowers and some borrowers with fair credit. APRs and available loan amounts are competitive — Rocket Loans offers loans up to $45,000. Plus, the company offers small business loans if you apply directly through its website. Notably, Rocket Loans delivered lower average rates than many competitors to borrowers with very good and excellent credit (based on closed loans data from the Credible marketplace over the last 12 months).
However, you'll only have a choice between two repayment terms — 3 or 5 years — and origination fees can be as high as 9%. You may qualify with fair credit, but Rocket Loans doesn't offer cosigned or secured options that could help you qualify or lower your rate.
pros
- Funding as soon as the same day
- Excellent Trustpilot rating
- Offers an autopay discount
- Low rates for very good and excellent credit
cons
- Origination fee up to 9% of the loan amount
- No cosigned or secured loans
- Only two repayment term options: 36 or 60 months
Loan amount
up to $45,000
Fees
Late fee, origination fee up to 9%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
Credible rating
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.
9.95% - 35.99%
$1,000 to $35,000
550
Overview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Loan amount
$1,000 to $35,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
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
Repayment terms
2 to 5 years
Credible rating
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.
-
$20,000 to $250,000
660
Overview
BHG Financial stands out for offering the largest loan amounts — up to $250,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher.
Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 3% and 4%, depending on your financial profile. Loan funds are available within five to 14 days of loan approval and must be used for debt consolidation or credit card refinancing.
pros
- Eligible applicants can borrow up to $250,000
- Considers borrowers with fair credit
- Long repayment terms
cons
- Not available in CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Loan amount
$20,000 - $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
Min. income
$100,000
Customer service
Email, phone
Soft credit check
Not on lender's site
Time to get funds
In as few as 5 days
Loan uses
Debt consolidation, credit card refinancing
Credible rating
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.
-
$2,500 to $25,000
560
Overview
Reprise may be an excellent option if you need a loan with bad credit. Not only does it offer bad credit loans, but the lender delivered the lowest rates, on average, to borrowers with bad credit compared to other Credible partners offering loans for bad credit. (Average interest rates are based on Credible personal loans data across credit score tiers over the last 12 months.) The lender also offers secured loans as well as some cosigned loans to help you qualify.
Reprise loans are a great options for emergencies as loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating and a 4.16 customer rating on BBB (the Better Business Bureau) — indicating satisfied customers.
But Reprise is not for everyone. Available loan amounts are capped at a relatively low $25,000, Reprise may charge an origination fee, and there are no discounts for autopay or direct pay to creditors when using the loan to consolidate debt.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary income source
- Relatively low maximum loan amount
- Origination fees up to 6%
- Not available nationwide
- No discounts for autopay or direct pay
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Repayment terms
3 to 5 years
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Does not disclose
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Credible rating
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.
11.69% - 35.99%
$1,000 to $50,000
580
Overview
Universal Credit offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with low credit scores considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Credible rating
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.
18.00% - 35.99%
$1,500 to $20,000
N/A
Overview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Loan amount
$1,500 to $20,000
Fees
Origination fee, unsuccessful payment fee, late 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
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
Credible rating
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.
Fixed (APR)
6.49% - 25.29%2
Loan Amounts
$5,000 to $100,0002
Min. Credit Score
7002
Overview
LightStream is one of three Credible partner lenders to offer loan amounts up to $100,000, which makes it ideal for financing large expenses. Plus, rates on LightStream personal loans were the lowest among all Credible partner lenders, on average, for borrowers with good, very good, and excellent credit, according to Credible personal loans data over the past year. There are no origination fees and loans can be used for a wide range of purposes
Funds are available as soon as the same day you apply, and you'll have up to 20 years to repay certain types of loans, including home improvement loans, RV loans, and boat loans.
Unlike most lenders, LightStream does not let you prequalify on its site — but you can prequalify through Credible. LightStream scored better than average in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study, beating out online lender SoFi by one position.
pros
- Same-day funding available
- High maximum loan amount
- No origination fee
cons
- Good credit required
- No prequalification process
- Not available in Vermont
Loan amount
$5,000 to $100,000
Repayment terms
2 - 20 years, depending on loan purpose
Fees
None
Discounts
Autopay
Eligibility
Available in all states except VT
Min. income
Does not disclose
Customer service
Soft credit check
No
Time to get funds
As soon as the same business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible rating
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.
Fixed (APR)
6.60% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
620
Overview
More borrowers are able to prequalify with Upstart compared to all other Credible partners, based on Credible personal loans data. This could make the lender a good choice if you have at least fair credit and have struggled to qualify with other lenders. It also offers loans as low as $1,000, which makes it a good choice if you need a small loan. Just know that Upstart may charge an origination fee as high as 12%, but good-credit borrowers may not be charged one at all.
Trustpilot gives Upstart 4.9 stars, which is the highest of all lenders we reviewed. However, it received a below average score in J.D. Power's 2025 U.S. Consumer Lending Satisfaction Study.
pros
- May fund in 1 business day
- 300 minimum credit score in most states
- Low minimum APR
- Trustpilot score of 4.9/5 stars
cons
- May charge a high origination fee
- No discounts offered
Loan amount
$1,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available nationwide
Min. income
$12,000
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days
Loan uses
Pay off credit cards, consolidate debt, relocate, make a large purchase, and other purposes
Credible rating
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.
Fixed (APR)
6.99% - 35.99%
Loan Amounts
$2,000 to $50,000
Min. Credit Score
600
Overview
Best Egg is a solid lender for a wide range of borrowers. It offers competitive rates, reasonable loan terms and amounts, and personal loans for fair credit. You'll need a FICO score of at least 600 to qualify, which means borrowers with fair credit are eligible. Plus, Best Egg is one of a handful of Credible partner lenders to offer secured loans, and the only one we know of that offers loans secured by the fixtures in your home. This can be a great way for homeowners to lower their rate, while not putting their actual home up as collateral.
However, Best Egg loans may have an origination fee, which ranges from 0.99% to 9.99% of the loan amount.
pros
- Secured loans available
- Low minimum income requirement
- Wide range of loan purposes allowed
- Funds in 1-3 business days
cons
- Origination fees
- No discounts
- Not available in DC, IA, VT, or WV
Loan amount
$2,000 to $50,000
Fees
Origination fee, late fee, unsuccessful payment fee, check processing fee
Discounts
None
Eligibility
Available in all states except DC, IA, VT, and WV
Min. income
$3,500
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 to 3 business days after successful verification
Loan uses
Credit card refinancing, debt consolidation, home improvement, and other purposes
Credible rating
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.
Fixed (APR)
7.90% - 35.99%
Loan Amounts
$1,000 to $60,000
Min. Credit Score
660
Overview
LendingClub makes loans to borrowers across the credit spectrum and stands out for its low rates, based on Credible personal loan data. The lender had some of the lowest APRs for borrowers with fair credit (FICO 580 - 669), very good credit (FICO 740 - 799), and excellent credit (FICO 800+), compared to other Credible partner lenders. The lender has a low minimum income requirement, wide availability, and offers a mobile app for streamlined loan management.
LendingClub may charge an origination fee between 3% and 8%.
pros
- Mobile app
- Low minimum income requirement
- High close rate on loans made through Credible
- Available in all states
cons
- Origination fee
- No discounts
Loan amount
$1,000 to $60,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all 50 states
Min. income
None
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as next-day funding once approved
Loan uses
Debt consolidation, paying off credit cards
Credible rating
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.
Fixed (APR)
7.95% - 29.99%
Loan Amounts
$5,000 to $40,000
Min. Credit Score
640
Overview
Happy Money has been in operation since 2009 (formerly known as Payoff). It's an option for fair-credit borrowers (plus those with better credit), and notably has a relatively low top-end APR. In other words, you could qualify for a lower rate with Happy Money with fair credit, relative to other lenders that offer fair-credit loans. The company does charge an origination fee on some loans, up to 5%, but that's not as high as some other lenders' origination fees.
You should be prepared to wait a few days to get your money, as funding can take three to five days once approved. And loans aren't available in Massachusetts or Nevada. Happy Money has an A+ rating with the BBB and is ideal for debt consolidation and credit card consolidation loans.
pros
- Mobile app
- Live chat
- Low maximum APR
cons
- Limited loan terms available
- No discounts
- Origination fees
- Not available in IA, MA or NV
Loan amount
$5,000 to $40,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA, MA and NV
Min. income
$30,000
Customer service
Phone, email, chat
Soft credit check
Yes
Time to get funds
As soon as 2 - 5 business days after verification
Loan uses
Debt consolidation and credit card consolidation only
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$5,000 to $50,000
Min. Credit Score
680
Overview
It’s worth considering a personal loan through Splash if you have good credit (ideally, a FICO score above 700). The platform offers loans from a wide range of lenders, and next-day funding is available. Plus, Splash has a live chat feature so you can get real-time answers without having to wait on hold or for an email. Loans are available up to $100,000 if you apply via Splash’s website.
Rates are competitive, but borrowers with excellent credit may find lower APRs elsewhere. If you need a repayment term longer than five years, you’ll need to look elsewhere as well.
pros
- Excellent customer reviews on Trustpilot
- Funding as soon as the next business day
- Large loan amounts available
cons
- Possible origination fee up to 7.49% (through Credible)
- Other lenders may have lower starting APRs
- No cosigner option
Loan amount
$5,000 - $100,000 (up to $50,000 on Credible)
Fees
Origination fee
Discounts
None
Eligibility
Available in all states. OH and NM net disbursed amount must be greater than $5,000. MA must be greater than $6,000
Min. income
$25,000
Customer service
Live chat
Soft credit check
Yes
Time to get funds
Typically 1-3 days
Loan uses
Debt consolidation, credit card refinancing, home improvement, major purchases, paying bills or rent
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$2,000 to $30,000
Min. Credit Score
740
Overview
Citi offers no-fee personal loans to borrowers with very good credit (a FICO credit score of 740 or higher). No-fee means no origination fees and no late fees, and Citi is one of few lenders that don’t charge either. (Origination fees are deducted from the loan upfront, reducing the amount you receive).
The company also offers a generous 0.50 percentage point autopay discount and makes same day funding available to current Citi customers. However, Citi requires a relatively high credit score to qualify and caps the amount you can borrow at $30,000, which is less than most of its competitors.
Citi came in second for overall customer satisfaction in J.D. Power's 2025 Consumer Lending Satisfaction Study.
pros
- No minimum credit score required
- No origination fees
- Autopay discount
- 2nd in J.D. Power's Consumer Lending Satisfaction Study
- 100% digital process
cons
- Max loan amount is lower than most lenders
- High credit score required
Loan amount
$2,000-$30,000
Fees
None
Discounts
0.5% APR autopay discount
Eligibility
N/A
Min. income
$30,000
Customer service
Email and mobile app
Soft credit check
Yes
Time to get funds
Same day with an existing Citi account, or within 2 business days with a non-Citi account
Loan uses
Can be used for almost any purpose, except for using the proceeds for post-secondary expenses or business purposes.
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$5,000 to $50,000
Min. Credit Score
652
Overview
Jenius Bank offers personal loans for fair and better credit with competitive features, including a low maximum APR, an autopay discount, and no origination fees. Funding is available as soon as the next business day and repayment terms can extend up to six years. The bank also offers a mobile app for convenient management.
However, potential drawbacks include a high minimum loan amount, a low Trustpilot rating, and the unavailability of joint loans.
pros
- Low maximum APR
- Autopay discount
- Next-day funding
- Fair-credit eligible
- Mobile app
- No origination fees
- Terms up to 6 years
cons
- High minimum loan amount
- Low customer service ratings
- No joint loans
Loan amounts
$5,000 - $50,000
Fees
None
Discounts
Autopay
Eligibility
All states except HI, NV, WI
Min. income
N/A
Customer service
Mobile app; 24/7 telephone support
Soft credit check
Yes
Time to get funds
As early as the next business day
Loan uses
For personal, family, or household uses
Credible rating
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$1,000 to $40,000
Min. Credit Score
660
Overview
Reach is an option if you have fair credit, especially if you need money fast. According to the company, 90% of Reach personal loans are funded within one day of approval.
It's a good choice for debt consolidation and credit card refinancing, but borrowers with excellent credit may not find the lowest rates with Reach. The company also charges more fees than some of its competitors and doesn't offer direct pay or autopay discounts. If you need a 7-year term loan, you'll need to look elsewhere. Reach personal loans are not available in all states.
pros
- Fast funding
- Can improve credit
- Fair-credit borrowers may be eligible
cons
- Limited use
- No direct pay discount
- Origination fee
- Limited availability: Not available in CO, CT, ME, NV, NH, TN, VT, WV, or WY
Loan amount
$1,000 to $40,000
Fees
Origination Fee, $15 Late Fee, $25 NSF Fee
Discounts
None
Eligibility
Available in all states except CO, CT, ME, NV, NH, TN, VT, WV, and all U.S. Territories
Min. income
$20,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
Funds typically deposited into your account in 1 business day13
Loan uses
Debt consolidation and credit card refinancing only
Credible rating
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
580
Overview
Upgrade has a suite of features that make it a very attractive lender: competitive interest rates, discounts for direct pay and autopay, as soon as same-day funding, up to seven-year repayment terms, and nationwide availability. Plus, loans are available to fair-credit borrowers and borrowers with low annual incomes. Upgrade even offers secured personal loans, which is not common among lenders.
However, Upgrade does charge an origination fee of 1.85% to 9.99%.
pros
- Fair credit borrowers eligible
- Autopay and direct pay discounts
- Can fund in as little as 1 business day
- Mobile app
- Secured loans available
- Low annual income requirement
cons
- High maximum origination fee
- Cosigners not accepted on home improvement loans
Loan amount
$1,000 to $50,000
Repayment terms
2 to 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000
Customer service
Soft credit check
Yes
Time to get funds
1 business day
Loan uses
Credit card refinancing, debt consolidation, home improvement, major purchase, other
Credible rating
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.
Fixed (APR)
7.99% - 35.99%
Loan Amounts
$2,000 to $25,000
Min. Credit Score
660
Overview
LendingPoint is a fintech lender that incorporates AI and data analysis in addition to considering your credit score. It offers personal loans for a variety of uses, including debt consolidation, credit card refinancing, and home improvement, with funding as soon as the next business day. You can also manage your account using LendingPoint's mobile app.
With low starting APRs and a mid-600s credit score minimum, LendingPoint is best suited for borrowers with fair credit or a limited credit history looking for smaller loans. Some borrowers with good credit may also benefit from a LendingPoint loan. But borrowers with excellent credit can find lower APRs and larger maximum loan amounts with other lenders.
pros
- Multiple loan terms
- Low minimum APR
- Funds as soon as the next business day after approval
- Trustpilot score of 4.9/5 stars
cons
- Origination fee
- No discounts
- Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories
Loan amount
$2,000 to $25,000 (up to $36,500 direct with lender)
Fees
Origination fee (option to deduct upfront or add to financed amount)
Discounts
Rate discount review after 6 months of on-time payments)
Eligibility
Not available in CT, DC, IA, MD, ME, NE, NV, VT, VW, or any U.S. Territories (eligible states may vary on the lender’s site)
Min. income
$35,000 ($39,000 through Credible)
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as the next business day
Loan uses
Debt consolidation, credit card financing, home improvement, wedding, medical or dental, car repair, taxes, other personal financial expenses
Credible rating
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.
Fixed (APR)
8.99% - 35.49%1
Loan Amounts
$5,000 - $100,0001
Min. Credit Score
Does not disclose1
Overview
SoFi personal loans feature high loan amounts, competitive interest 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 makes loans directly 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.
To qualify for an unsecured loan, it's best to have good credit. But unlike other lenders, SoFi doesn't specify a credit score minimum. It also has optional origination fees — you might elect to pay on to reduce your interest rate. Minimum loan amounts start at $5,000.
pros
- Large loan amounts available
- Autopay and direct pay discounts
- Same day funding
- Long loan terms available
cons
- Not transparent about minimum credit score requirements
- 5,000 minimum loan amount
Loan amount
$5,000 to $100,000
Repayment terms
2 - 7 years
Fees
Option to pay an origination fee in exchange for a lower rate
Discounts
Autopay, direct pay
Eligibility
Available in all states
Min. income
Does not disclose
Customer service
Phone, email, live chat
Soft credit check
Yes
Time to get funds
Typically within a few days, given approval and bank account verification, but sometimes within the same day
Loan uses
Solely for personal, family, or household uses
Credible rating
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.
Fixed (APR)
8.99% - 35.99%
Loan Amounts
$2,000 to $50,000
Min. Credit Score
640
Overview
Prosper is the only remaining true P2P marketplace in the peer-to-peer lending space that connects borrowers with individual investors for some loans. If you apply for a loan with Prosper, the funding may come from an individual who has chosen to invest in you.
Prosper offers personal loans between $2,000 and $50,000 with terms between 2 and 5 years, and funding as soon as one business day. You can use a personal loan through Prosper for a variety of purposes, including debt consolidation and home improvement. The platform has excellent customer service reviews on Trustpilot, as well.
pros
- Offers peer-to-peer lending (individuals can invest in personal loans)
- Can fund in 1 business day
- Open to borrowers with fair credit
- Low minimum APR
cons
- Origination fee
- Not available in Iowa or West Virginia
- No discounts
Loan amount
$2,000 to $50,000
Fees
Origination fee
Discounts
None
Eligibility
Available in all states except IA and WV
Min. income
Greater than $0
Customer service
Phone, email
Soft credit check
Yes
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
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$4,000 to $45,000
Min. Credit Score
680
Overview
Rocket Loans delivers no-frills same-day personal loans with a generous autopay discount to good-credit borrowers and some borrowers with fair credit. APRs and available loan amounts are competitive — Rocket Loans offers loans up to $45,000. Plus, the company offers small business loans if you apply directly through its website. Notably, Rocket Loans delivered lower average rates than many competitors to borrowers with very good and excellent credit (based on closed loans data from the Credible marketplace over the last 12 months).
However, you'll only have a choice between two repayment terms — 3 or 5 years — and origination fees can be as high as 9%. You may qualify with fair credit, but Rocket Loans doesn't offer cosigned or secured options that could help you qualify or lower your rate.
pros
- Funding as soon as the same day
- Excellent Trustpilot rating
- Offers an autopay discount
- Low rates for very good and excellent credit
cons
- Origination fee up to 9% of the loan amount
- No cosigned or secured loans
- Only two repayment term options: 36 or 60 months
Loan amount
up to $45,000
Fees
Late fee, origination fee up to 9%
Discounts
Autopay
Eligibility
Not available in IA, NV, WV, PR, MD
Min. income
$50,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as same business day
Loan purposes
Debt Consolidation, Credit Card Refinancing, Home Improvements
Credible rating
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.
Fixed (APR)
9.95% - 35.99%
Loan Amounts
$1,000 to $35,000
Min. Credit Score
550
Overview
Avant personal loans are a good choice for borrowers with bad credit looking for small- to moderate-sized personal loans. Loans are available up to $35,000 and you could get the money as soon as the next business day after approval. Plus, Avant is more likely than some lenders to approve the applications of borrowers who've prequalified with Avant. However, the lender charges an origination fee up to 9.99%, and its top-range interest rates are among the highest of the lenders we reviewed.
pros
- Borrowers with bad credit considered
- Funds as soon as the next business day
- 2-year loan terms available
cons
- No discounts offered
- Origination fee
- Not available in HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Loan amount
$1,000 to $35,000**
Fees
Origination fee, late fee, dishonored payment fee
Discounts
None
Eligibility
Available in all states except HI, IA, MA, ME, NY, VT, WV, WA, AP, AE, and AA
Min. income
$1,200 monthly
Customer service
Phone, email
Soft credit check
Yes
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
Repayment terms
2 to 5 years
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$20,000 to $250,000
Min. Credit Score
660
Overview
BHG Financial stands out for offering the largest loan amounts — up to $250,000 — of any Credible partner lenders. Simply put, if you need an unsecured personal loan over $100,000, there are very few places to look, but BHG is one. You'll have up to 10 years to repay the loan, but you'll need an annual income of at least $100,000 to qualify and a FICO score that's 660 or higher.
Loan amounts start at $20,000, so look elsewhere for small loans. And BHG charges a modest origination fee between 3% and 4%, depending on your financial profile. Loan funds are available within five to 14 days of loan approval and must be used for debt consolidation or credit card refinancing.
pros
- Eligible applicants can borrow up to $250,000
- Considers borrowers with fair credit
- Long repayment terms
cons
- Not available in CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
- No discounts
- Minimum annual income requirement of $100,000
- Funding takes at least five days
Loan amount
$20,000 - $250,000
Repayment terms
3 - 10 years
Fees
Origination fees, late fees, other fees may apply
Discounts
None
Eligibility
Available in all states except CT, ID, IL, LA, MD, ME, MT, NV, ND, and VT
Min. income
$100,000
Customer service
Email, phone
Soft credit check
Not on lender's site
Time to get funds
In as few as 5 days
Loan uses
Debt consolidation, credit card refinancing
Credible rating
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.
Fixed (APR)
-
Loan Amounts
$2,500 to $25,000
Min. Credit Score
560
Overview
Reprise may be an excellent option if you need a loan with bad credit. Not only does it offer bad credit loans, but the lender delivered the lowest rates, on average, to borrowers with bad credit compared to other Credible partners offering loans for bad credit. (Average interest rates are based on Credible personal loans data across credit score tiers over the last 12 months.) The lender also offers secured loans as well as some cosigned loans to help you qualify.
Reprise loans are a great options for emergencies as loan funds can be available the next business day once you’re approved. Plus, the company has a 4.7 Trustpilot rating and a 4.16 customer rating on BBB (the Better Business Bureau) — indicating satisfied customers.
But Reprise is not for everyone. Available loan amounts are capped at a relatively low $25,000, Reprise may charge an origination fee, and there are no discounts for autopay or direct pay to creditors when using the loan to consolidate debt.
pros
- Loans for bad credit
- 4.7 Trustpilot rating
- Secured loans available
- Cosigners considered
- Next-day funding available
- Easy to contact
cons
- Does not accept self-employment income as a primary income source
- Relatively low maximum loan amount
- Origination fees up to 6%
- Not available nationwide
- No discounts for autopay or direct pay
Loan amount
$2,500 to $25,000 (Minimum $5,000 for OH, Minimum $3,500 for GA)
Repayment terms
3 to 5 years
Fees
$15 late fee except where the state has a different limit (ie. NM), return payment fees - $20 except where state has a different limit (ie – NM), and no prepayment penalty
Discounts
None
Eligibility
Unavailable in CO, CT, HI, IA, ME, MD, MA, NV, NJ, NY, SD, VT, WA, and WV
Min. income
$30,000
Customer service
Phone
Soft credit check
Does not disclose
Time to get funds
1-7 business days depending on loan security type
Loan uses
Credit card refinancing, debt consolidation, emergencies, major purchases, medical and dental expenses, moving expenses, special occasions, unexpected expenses, vacation and travel
Credible rating
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.
Fixed (APR)
11.69% - 35.99%
Loan Amounts
$1,000 to $50,000
Min. Credit Score
580
Overview
Universal Credit offers loan amounts up to $50,000, repayment terms up to seven years, and discounts for direct pay and autopay. Funds are available as soon as the next business day after loan approval.
Note that rates and fees can be relatively high — you may pay an origination fee from 5.25% to 9.99%, and APRs start at 11.69%. If you get a loan with a high interest rate, consider refinancing your personal loan at a lower rate once you've improved your credit score.
pros
- Borrowers with low credit scores considered
- $25,000 annual income requirement
- Autopay and direct pay discounts available
- Can fund in one business day
cons
- High APRs
- Potentially high origination fees
- Not available in Iowa
Loan amount
$1,000 - $50,000
Repayment terms
3, 5, or 7 years
Fees
Origination fee
Discounts
Autopay and direct pay
Eligibility
Available in all states
Min. income
$25,000 annually
Customer service
Phone, email
Soft credit check
Yes
Time to get funds
As soon as 1 business day after acceptance
Loan uses
Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
Credible rating
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.
Fixed (APR)
18.00% - 35.99%
Loan Amounts
$1,500 to $20,000
Min. Credit Score
N/A
Overview
OneMain Financial has multiple options for bad-credit personal loans. There is no minimum credit score required (if you apply directly with OneMain), which means you could get a loan with bad credit (FICO below 580). Plus, cosigners are allowed — a cosigner is someone (ideally, with good credit) who promises to repay the loan if you can't, which can make it easier to qualify or lower your rate. And, secured personal loans are available. You secure a loan with collateral, which may also help you qualify or lower your rate.
Rates are higher than competitors and OneMain charges origination fees as either a flat fee up to $500, or a percentage from 1% to 10% (depending on your state of residence). Note that even if you prequalify for a personal loan with OneMain, getting approved isn't a given.
pros
- Flexible eligibility requirements
- Offers secured options
- Competitive bad-credit loans
- Physical presence
cons
- Availability
- Origination fees
- High starting APR
- Low maximum loan amount
Loan amount
$1,500 to $20,000
Fees
Origination fee, unsuccessful payment fee, late 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
Time to get funds
As soon as 1 to 2 days after acceptance
Loan use
All except business, and education
FAQ
How to apply for a personal loan
Open
Start by researching eligibility requirements, lender reputation, permitted use cases, and loan features to narrow down your options.
Then, prequalify with a few lenders so you can compare rates and terms. Once you’ve chosen a loan offer, submit any additional information, review and sign your loan documents, and wait for the funds.
What are the consequences of misusing a personal loan?
Open
If your loan agreement contains loan restrictions and a penalty clause, and you violate the terms of the agreement, you could incur a penalty from the lender.
But more importantly, you could be found guilty of bank fraud, which carries a maximum fine $1,000,000 and a maximum 30-year prison sentence.
Where can I get a personal loan?
Open
Personal loans are available from banks, credit unions, and online lenders. If you need help comparing your personal loan options, you can also use a loan aggregator site to get personalized rate estimates from a variety of lenders in one place.
Lindsay Frankel has been in personal finance for over eight years. Her work has been featured by MSN, CNN, FinanceBuzz, and The Balance.
