9 Best Personal Loans for People With Bad Credit

Yes, you can get a personal loan with bad credit. Here's what you need to know if you have bad credit — which is considered a FICO score of 300 to 629 — and want a personal loan:

• You can prequalify for a loan with soft credit checks.

• You avoid multiple hard inquiries and credit score dips.

• When comparing lenders, look at total costs including payment plus interest.

Key Takeaways

• You can qualify for a personal loan with bad credit, generally meaning a FICO score between 300 and 629, but expect higher APRs and stricter terms from lenders like OneMain Financial, Avant or NetCredit.

• Prequalifying with a soft credit check lets you compare offers from multiple lenders without dinging your credit score, so you can weigh APR, fees and total repayment cost side by side.

• Before you sign, know where your credit score falls — poor to excellent — aim for an APR under 36% and prequalify with at least three lenders using the same loan amount and term to spot the lowest total cost.

Summary generated by AI, verified by MoneyLion editors

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

Here's how lenders compare to one another on specific features.

1. LendingClub

LendingClub is a traditional online lender where the application process takes just a few minutes. Here are other features:

• Loan amounts: You can borrow up to $60,000

• APR: 6.53% to 35.99%

• Fees:

  • Loan origination fee: 0% to 8%

  • Late payment fee: 5.00% of unpaid payment or $15, whichever is greater, if more than 15 days late

• Funding speed: Less than 24 hours

• Eligibility: You must be at least 18 years old, have a verifiable bank account and be a U.S. citizen. Your credit score and debt-to-income ratio will be evaluated as well as your credit history.

• Choose if: You need to borrow large amounts and want to add a co-borrower.

• Avoid if: You want to avoid an origination fee and don’t need to borrow a huge amount of money.

Pros

• A 15-day grace period to make payments without being charged a late fee

• Borrow up to $60,000

Cons

• Personal loans cannot be put toward college education expenses or to make investments

• Online-only lender without branch infrastructure

2. Avant

Avant can help you get a small or larger loan for an expense you need to finance. Here are other features to consider:

• Loan amounts: $2,000 to $35,000

• APR: 9.95% to 35.99%

• Fees:

  • Late fee: $25

  • Dishonored payment fee: $15

  • Administration fee: 9.99%

• Funding speed: As soon as the next business day, if approved by 4:30 p.m. CT, Monday to Friday

• Eligibility: Must be at least 18 years old and have a verifiable bank account — you may have additional requirements when you try to prequalify.

• Choose if: You need a fast decision.

• Avoid if: You have excellent credit and can likely get a lower rate elsewhere.

Pros

• Fast approval

• Funds may be available by next business day

• No restrictions on usage

Cons

• Administration fee as high as 9.99%

• Late and dishonored payment fees

3. OneMain Financial

OneMain Financial has a comprehensive application system that takes more than your credit score into consideration.

• Loan amounts: $1,500 to $30,000

• APR: 11.99% to 35.99%

• Fees:

  • Origination fees: 1% to 10%

  • Late fees: $5 to $30

  • NSF fees: $10 to $50

• Funding speed: Funds can be delivered within one hour of closing or within one or two business days.

• Eligibility: Proof of identity, residence, income and your credit history, loan purpose, state of residence or whether you've filed bankruptcy

• Choose if: You want a secured collateral option.

• Avoid if: You want lower APRs.

Pros

• No minimum credit score required

• Fast approval and availability of funds

• Option for a secured loan in certain circumstances

Cons

• High minimum APR

• Limits on how funds can be used

4. PersonalLoans.com

PersonalLoans.com boasts that its proprietary technology can evaluate your personal loan needs and connect you with the ideal lender for your circumstances. It offers loan terms as long as six years, the option to borrow up to $35,000 and approval within minutes for many applicants.

• Loan amounts: $250 to $35,000

• APR: 5.99% to 35.99%

• Fees: Fees vary by lender (PersonalLoans.com doesn't charge)

• Funding speed: Within 24 hours

• Eligibility: Must be at least 18 years old, have a verifiable bank account with a review of your credit history

• Choose if: You don't want to fill out multiple applications.

• Avoid if: You want a direct relationship to your lender.

Pros

• Flexible loan terms of six to 72 months

• Loans up to $35,000

• Approval in minutes

Cons

• 1% to 5% origination fee

• Minimum credit score of 600

5. NetCredit

NetCredit doesn't just offer personal loans for poor credit. It provides financial tools you can use to improve your credit and create a loan that fits your needs. The My RightFit Tool enables you to customize the personal loan that works best in your financial life, and the ClearCost for Me tool claims to offer transparent information about repayment terms, fees and interest.

• Loan amounts: Up to $10,000

• APR: 34.99% to 99.99%

• Fees: Not disclosed on website

• Funding speed: Next business day or sooner

• Eligibility: You must be 18 years or older and have a valid checking account, active email account and verifiable source of income.

• Choose if: You have a very poor credit history and need an emergency loan.

• Avoid if: If you qualify for a traditional loan with a lower APR.

Pros

• Online tools to help improve credit.

• ClearCost for Me promises transparency about costs and terms.

• My ScoreSaver allows you to check eligibility without affecting your credit score.

Cons

• High APRs

• Maximum loan amount of $10,000

• Not available in all states

6. Rise

Rise positions itself specifically as an alternative to high-interest payday loans for people with low credit and a short-term financial crunch. Given that it's intended for consumers with a financial emergency, the company promises a rapid turnaround after the application process to receive the money in question.

• Loan amounts: $500 to $5,000

• APR: 36% to 299%

• Fees: No fees

• Funding speed: As soon as the next business day

• Eligibility: Must have a verifiable source of income and valid checking account

• Choose if: You don't have another alternative.

• Avoid if: You can get a lower rate elsewhere

Pros

• Free TransUnion credit score

• Free credit alerts

• Can secure funds by next business day

Cons

• APR range of 36% to 299%

• Maximum loan amount of $5,000

7. Lending Point

Lending Point offers up to $36,500 and a next-day deposit on its loans in addition to the option of breaking your monthly payments up into bi-monthly payments to make them more manageable. Moreover, there are no restrictions on how you can spend the money.

• Loan amounts: $1,000 to $36,500

• APR: 7.99% to 35.99%

• Fees: 0% to 12% deducted from loan proceeds

• Funding speed: As soon as the next business day

• Eligibility: Minimum annual income of $35,000, must have a verifiable personal bank account in your name, must be at least 18 years old and provide a government-issued photo ID and Social Security number

• Choose if: You have a fair credit score and want a longer repayment term.

• Avoid if: You need to borrow more than $36,500.

Pros

• Next-day deposit of funds

• Option to break up monthly payments to make them smaller

• No restrictions on usage

Cons

• $30 late payment fee

• Availability limited to 43 states and Washington, D.C.

8. Upstart

Upstart claims to look at its customers as more than just a credit score, incorporating other elements like education and experience into your final rate. This could offer options for people who may be having trouble securing a loan due to a short credit history.

• Loan amounts: $1,000 to $75,000

• APR: 6.20% to 35.99%

• Fees: Charges up to 12% in origination fee, late fees and NSF fees

• Funding speed: Within one business day

• Eligibility: Verifiable personal bank, must be at least 18 years old with a government-issued ID and Social Security number

• Choose if: You need a larger amount with a thin credit profile.

• Avoid if: You need a customizable term since Upstart offers only two terms.

Pros

• Funds are available as soon as the next day after application

• Can secure a lower rate based on factors other than your credit score

Cons

• High origination fees

• No joint applications

9. Prosper

Prosper offers APRs as low as 8.99%, immediate approval with funds available within a few business days and a maximum loan amount of $50,000.

• Loan amounts: $2,000 to $50,000

• APR: 8.99% to 35.99%

• Fees:

  • Origination fees: 1% to 9.99%

  • Late fee: $15 or 5% of total whichever is greater

  • Insufficient fee: $15

• Funding speed: Within a few business days

• Eligibility: Must have verifiable income and no bankruptcy within 12 months

• Choose if: You have fair credit and want a joint borrower.

• Avoid if: You want to borrow less than $2,000 or avoid a high origination fee.

Pros

• APR starting as low as 8.99%

• Immediate approval

• Funds available within a few business days

• Maximum loan value of $50,000

Cons

• High origination fee

• Not available in all states

Final Take

There are several choices for lenders even if you have bad credit. So how do you choose the right lender? Consider this three-pronged approach to help you decide:

1. Find out your credit range. This could make a difference in getting a better APR. Keep in mind that credit scores of 300 to 579 fall in the poor credit range, while the fair credit range is 580 to 669.

2. Cap your total cost. You want to aim for a lower APR and ideally should find a loan that is less than 36% APR. You may want to consider alternative loans if the interest cost is too high.

3. Prequalify and compare at least three lenders. Use the same loan amount over the same period of time to determine your repayment cost. Choose the lowest total.

👉 Best Personal Loans

Key Terms

• FICO score: A credit score brand that helps lenders estimate how likely you are to repay a loan.

• Annual percentage rate (APR): The yearly cost of borrowing money, including interest and sometimes lender fees.

• Soft inquiry: A review of your credit that doesn't affect your credit score.

• Hard inquiry: A credit check that happens when you apply for credit and can affect your credit score.

• Origination fee: A fee some lenders charge when the loan is made, which adds to the total borrowing cost.

Sources:

• Consumer Financial Protection Bureau: What is a FICO score?

• Consumer Financial Protection Bureau: What is the difference between a loan interest rate and the APR?

• Consumer Financial Protection Bureau: What is a credit inquiry?

• Consumer Financial Protection Bureau: Do personal installment loans have fees?

Summary generated by AI, verified by MoneyLion editors

Joel Anderson contributed to the reporting for this article.

Rates are current as of April 21, 2026.

Photo Credit: Izabela Habur / Getty Images