Best Egg: Best for secured loans
Est. APR
6.99-35.99%
Loan amount
$2K-$50K
Min. credit score
600
Qualifications:
Key Facts:Best Egg offers personal loans for borrowers who want to consolidate debt and need cash fast.Qualifications:- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 0.99% - 9.99%.
LendingClub: Best for joint loans
Est. APR
7.90-35.99%
Loan amount
$1K-$50K
Min. credit score
600
Qualifications:
Key Facts:LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
LightStream: Best for home improvement
Est. APR
6.49-25.29%
Loan amount
$5K-$100K
Min. credit score
660
Qualifications:
Key Facts:LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
SoFi Personal Loan: Best for fast funding
Est. APR
8.99-35.49%
Loan amount
$5K-$100K
Min. credit score
None
Qualifications:
Key Facts:SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
Upgrade: Best for debt consolidation
Est. APR
7.99-35.99%
Loan amount
$1K-$50K
Min. credit score
580
Qualifications:
Key Facts:Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more.Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Upstart: Best for thin- or low-credit borrowers
Est. APR
6.70-35.99%
Loan amount
$1K-$50K
Min. credit score
None
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 5 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Best Egg: Best for secured loans
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Best Egg offers personal loans for borrowers who want to consolidate debt and need cash fast.Qualifications:- Minimum credit score: 600.
- Maximum debt-to-income ratio: 70% including a mortgage.
- Minimum credit history: 3 years and 1 account.
- Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident and at least 18 years of age.
Available Term Lengths:3 to 5 yearsFees:- Origination fee: 0.99% - 9.99%.
LendingClub: Best for joint loans
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit.Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
LightStream: Best for home improvement
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
SoFi Personal Loan: Best for fast funding
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
Upgrade: Best for debt consolidation
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more.Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Upstart: Best for thin- or low-credit borrowers
Est. APR
Loan amount
Min. credit score
Qualifications:
Key Facts:Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.Qualifications:- Must be a U.S. citizen or permanent resident living in the U.S.
- Must be at least 18 years old in most states.
- Must have a valid email address and Social Security number.
- Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
- Must have a personal bank account at a U.S. financial institution with a routing number.
- No bankruptcies in the last 12 months.
- No current delinquent accounts on your credit reports.
- Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
- Minimum credit score: None.
- Minimum annual income: $12,000.
Available Term Lengths:3 to 5 yearsFees:- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Our guide to the best lenders for a $50,000 personal loan
If you need to borrow a large sum of money, several lenders offer personal loans up to $50,000. A $50,000 personal loan could fund a home renovation, consolidate maxed-out credit cards, finance an elective surgery or cover multiple large expenses.
Here’s what makes our picks for the best $50,000 loan stand out.
Best Egg: Best for secured loans
Adding collateral to a personal loan could improve your chances of approval or of getting a lower interest rate. Best Egg offers two types of secured personal loans — one that uses a vehicle as collateral and a more unique option that uses fixtures in your home (like kitchen cabinets and bathroom vanities) as collateral.
LendingClub: Best for joint loans
Applying for a personal loan with a co-borrower may increase your odds of being approved for a large personal loan, particularly if your co-borrower has a higher credit score or income. LendingClub lets co-borrowers pre-qualify together to preview potential offers prior to completing the formal loan application. Once you’re approved and the loan is funded, you’ll have two people to share in the repayment, which can make the large monthly payments on a $50,000 loan more manageable.
LightStream: Best for home improvement loans
LightStream offers loans up to $100,000 and repayment terms up to 20 years to fund home improvement projects. This lender doesn’t charge origination fees and has same-day funding, so you can get started on your renovation project right away.
SoFi: Best for fast-funded loans
SoFi offers same-day funding, even for borrowers who complete their loan applications later in the day. The lender says the majority of typical personal loan applicants who signed loan documents by 6 pm ET on a business day were funded that same day.
Upgrade: Best for debt consolidation
If you’re using the loan to consolidate debt, Upgrade will send the loan proceeds directly to your creditors, saving you a step in the process. The lender also has rate discounts up to 3 percentage points if you opt for direct payment for debt consolidation.
Upstart: Best for thin- or low-credit borrowers
Upstart uses an AI-powered underwriting model that factors in non-traditional criteria, like college education and work experience, when making loan approval decisions rather than focusing predominantly on credit scores. The lender doesn’t have a set credit score requirement and considers applicants with thin credit histories and bad credit (scores from 300 to the high 500s).
» MORE: The best personal loan lenders
Estimated costs of a $50,000 personal loan
How much you’ll pay each month for a $50,000 loan will depend on your annual percentage rate and the loan’s repayment term. The lower the APR, the lower the cost of the loan.
A loan with a shorter repayment term will have larger monthly payments, but you’ll pay less in interest overall. A longer term gives you lower monthly payments but will result in a higher total interest cost.
Here are the costs of a $50,000 personal loan at various rates and repayment terms.
Term | APR | Monthly Payment | Total Interest |
---|---|---|---|
3 years | 14% | $1,709 | $11,520 |
3 years | 20% | $1,858 | $16,894 |
6 years | 14% | $1,030 | $24,181 |
6 years | 20% | $1,198 | $36,230 |
Use a personal loan calculator to see how different rates and terms affect your monthly payments and to see the total interest you can expect to pay over the life of the loan.
Total principal
$10,000.00Total interest payments
$2,748.23Total loan payments
$12,748.23Payoff date
07 / 2030
Payment date | Principal | Interest | Monthly payment | Principal balance |
---|---|---|---|---|
Jul 2025 | $129.14 | $83.33 | $212.47 | $9,870.86 |
Aug 2025 | $130.21 | $82.26 | $212.47 | $9,740.65 |
Sep 2025 | $131.30 | $81.17 | $212.47 | $9,609.35 |
Oct 2025 | $132.39 | $80.08 | $212.47 | $9,476.96 |
Nov 2025 | $133.50 | $78.97 | $212.47 | $9,343.46 |
Dec 2025 | $134.61 | $77.86 | $212.47 | $9,208.85 |
Jan 2026 | $135.73 | $76.74 | $212.47 | $9,073.12 |
Feb 2026 | $136.86 | $75.61 | $212.47 | $8,936.26 |
Mar 2026 | $138.00 | $74.47 | $212.47 | $8,798.26 |
Apr 2026 | $139.15 | $73.32 | $212.47 | $8,659.11 |
May 2026 | $140.31 | $72.16 | $212.47 | $8,518.80 |
Jun 2026 | $141.48 | $70.99 | $212.47 | $8,377.32 |
Jul 2026 | $142.66 | $69.81 | $212.47 | $8,234.66 |
Aug 2026 | $143.85 | $68.62 | $212.47 | $8,090.81 |
Sep 2026 | $145.05 | $67.42 | $212.47 | $7,945.76 |
Oct 2026 | $146.26 | $66.21 | $212.47 | $7,799.51 |
Nov 2026 | $147.47 | $65.00 | $212.47 | $7,652.03 |
Dec 2026 | $148.70 | $63.77 | $212.47 | $7,503.33 |
Jan 2027 | $149.94 | $62.53 | $212.47 | $7,353.39 |
Feb 2027 | $151.19 | $61.28 | $212.47 | $7,202.20 |
Mar 2027 | $152.45 | $60.02 | $212.47 | $7,049.74 |
Apr 2027 | $153.72 | $58.75 | $212.47 | $6,896.02 |
May 2027 | $155.00 | $57.47 | $212.47 | $6,741.02 |
Jun 2027 | $156.30 | $56.18 | $212.47 | $6,584.72 |
Jul 2027 | $157.60 | $54.87 | $212.47 | $6,427.12 |
Aug 2027 | $158.91 | $53.56 | $212.47 | $6,268.21 |
Sep 2027 | $160.24 | $52.24 | $212.47 | $6,107.98 |
Oct 2027 | $161.57 | $50.90 | $212.47 | $5,946.41 |
Nov 2027 | $162.92 | $49.55 | $212.47 | $5,783.49 |
Dec 2027 | $164.27 | $48.20 | $212.47 | $5,619.22 |
Jan 2028 | $165.64 | $46.83 | $212.47 | $5,453.57 |
Feb 2028 | $167.02 | $45.45 | $212.47 | $5,286.55 |
Mar 2028 | $168.42 | $44.05 | $212.47 | $5,118.13 |
Apr 2028 | $169.82 | $42.65 | $212.47 | $4,948.31 |
May 2028 | $171.23 | $41.24 | $212.47 | $4,777.08 |
Jun 2028 | $172.66 | $39.81 | $212.47 | $4,604.42 |
Jul 2028 | $174.10 | $38.37 | $212.47 | $4,430.32 |
Aug 2028 | $175.55 | $36.92 | $212.47 | $4,254.76 |
Sep 2028 | $177.01 | $35.46 | $212.47 | $4,077.75 |
Oct 2028 | $178.49 | $33.98 | $212.47 | $3,899.26 |
Nov 2028 | $179.98 | $32.49 | $212.47 | $3,719.28 |
Dec 2028 | $181.48 | $30.99 | $212.47 | $3,537.81 |
Jan 2029 | $182.99 | $29.48 | $212.47 | $3,354.82 |
Feb 2029 | $184.51 | $27.96 | $212.47 | $3,170.31 |
Mar 2029 | $186.05 | $26.42 | $212.47 | $2,984.25 |
Apr 2029 | $187.60 | $24.87 | $212.47 | $2,796.65 |
May 2029 | $189.17 | $23.31 | $212.47 | $2,607.49 |
Jun 2029 | $190.74 | $21.73 | $212.47 | $2,416.75 |
Jul 2029 | $192.33 | $20.14 | $212.47 | $2,224.42 |
Aug 2029 | $193.93 | $18.54 | $212.47 | $2,030.48 |
Sep 2029 | $195.55 | $16.92 | $212.47 | $1,834.93 |
Oct 2029 | $197.18 | $15.29 | $212.47 | $1,637.75 |
Nov 2029 | $198.82 | $13.65 | $212.47 | $1,438.93 |
Dec 2029 | $200.48 | $11.99 | $212.47 | $1,238.45 |
Jan 2030 | $202.15 | $10.32 | $212.47 | $1,036.30 |
Feb 2030 | $203.83 | $8.64 | $212.47 | $832.47 |
Mar 2030 | $205.53 | $6.94 | $212.47 | $626.93 |
Apr 2030 | $207.25 | $5.22 | $212.47 | $419.69 |
May 2030 | $208.97 | $3.50 | $212.47 | $210.71 |
Jun 2030 | $210.71 | $1.76 | $212.47 | $0.00 |
Another thing to keep in mind regarding the cost of your loan is the origination fee, if your lender charges one. Origination fees typically range from 1% to 10% of the total loan amount, and lenders often deduct the fee from your loan amount before disbursing the funds.
This means if you’re approved for a $50,000 loan with a 5% origination fee ($2,500) that’s deducted upfront, you’ll see only $47,500 hit your bank account when the loan is funded.
How to qualify for a large personal loan
Lenders review a loan applicant’s credit, income and current debts to evaluate the likelihood of timely loan repayment. Approval chances for a $50,000 personal loan are better if you have good or excellent credit (a score in the mid-600s or higher), high income and a low debt-to-income ratio.
Make sure to check your credit report before applying for a loan to see if there is anything bringing down your score that you can easily address, such as an incorrect account balance you can dispute with the credit bureaus.
You may increase your odds of being approved for a $50,000 loan by adding a co-borrower with a higher credit score or annual income or pledging a valuable asset as collateral for a secured personal loan.
How to get a $50,000 personal loan
Check your budget and credit. Determine what monthly payment you can afford, and whether your credit score meets lenders’ requirements. You can check your credit score for free on NerdWallet.
Pre-qualify with lenders. Pre-qualification lets you check your likelihood of loan approval and preview your estimated rate, term and monthly payment — all with a soft credit pull, which doesn’t affect your score. Pre-qualify with multiple lenders to compare offers and find the best one.
Submit a formal application. Once you’ve determined the best pre-qualified offer, you’ll complete a formal loan application. The lender may ask for documents like paystubs or tax returns to confirm the information you’ve provided. The lender will perform a hard credit check at this point, which can cause your credit score to dip by a few points.
Read and sign loan documents and begin repayment. If your application is approved, you’ll get a loan agreement to sign. Make sure you understand all the fine print, including details about fees and consequences of missed payments. The lender typically disburses funds within a day or two of signing the documents, though the money may be sent the same day or take up to a week. The first payment is usually due about 30 days later.
Alternatives to a large personal loan
Depending on your purpose for borrowing the money, there may be cheaper alternatives than a personal loan.
Consider a home equity loan or home equity line of credit for home improvement projects. Rates are generally lower and repayment terms can be longer than personal loans, but the lender can take your home if you don’t keep up with the payments.
Look into debt management as an alternative to debt consolidation. With a debt management plan, you’ll work with a credit counselor to pay off your debt.
Ask about a payment plan with the doctor’s office or hospital for medical expenses your insurance doesn’t cover. The payment plan could have lower costs than a personal loan.
Last updated on July 1, 2025
Frequently asked questions
Credit score requirements vary from lender to lender; however, a good or excellent credit score (a score in the mid-600s or higher) typically gives you a better chance of qualifying for a large personal loan.
Many lenders don’t disclose income requirements, but you should have enough income to comfortably afford the monthly payments for the loan plus your other regular expenses. Use a personal loan calculator to estimate your monthly payments, and factor that into your budget. Include all sources of income, like side gig profits or alimony, on your personal loan application to boost approval odds.
Repayment terms are generally two to seven years. Shorter terms result in less total interest, so you’ll save money by opting for the shortest repayment term that gives you monthly payments you can manage. If you need lower monthly payments, you'll have a longer repayment term, and you'll pay more in overall interest.
How we chose the best personal loans
35+
Lenders reviewed
25+
Categories assessed
70+
Data points analyzed
Star rating categories
5.0
Overall score
NerdWallet's Best Lenders for a $50,000 Personal Loan in 2025
- Best Egg: Best for secured loans
- LendingClub: Best for joint loans
- LightStream: Best for home improvement
- SoFi Personal Loan: Best for fast funding
- Upgrade: Best for debt consolidation
- Upstart: Best for thin- or low-credit borrowers