Best Long-Term Personal Loans in 2026

NerdWallet’s picks for the best long-term personal loans

An extended term on a personal loan can be a benefit on its own. In choosing the best long-term personal loans, we considered additional features, like loan amounts, funding time and qualification factors. Here’s a closer look at these lenders and what makes them stand out.

Earnest: Best for flexible terms

Earnest offers repayment terms from two to seven years — in monthly increments. This means you could customize the loan term to get a monthly payment that better fits your budget. Most lenders offer repayment terms in yearly increments.

We also like that Earnest can instantly approve your loan if you qualify and send your funds within one business day.

Discover: Best for no fees

In addition to offering long terms (three to seven years), Discover charges no fees, which is rare. Many online lenders charge origination and late payments fees. It can also approve and fund loans for qualified borrowers by the next business day.

Discover doesn’t offer joint, co-signed or secured loans, which means you can’t add a co-appliant or collateral to help you qualify.

SoFi: Best for good credit

SoFi says it doesn’t have a minimum credit score requirement, but its average borrower has a credit score of 720 or higher. Those who qualify have access to large loans (up to $100,000), multiple rate discounts and repayment terms from two to seven years.

SoFi also offers joint loans if you prefer to apply with a co-borrower. A joint loan may be easier to qualify for, and you’ll share the responsibility of repaying the loan with your co-borrower.

Upgrade: Best for multiple rate discounts

For qualified borrowers, Upgrade offers six- or seven-year terms for loans over $15,000. It also offers rate discounts if you choose autopay, have your loan funds sent directly to pay off creditors or secure your loan with a vehicle.

On the other hand, Upgrade charges an origination fee from 1.85% to 9.99% of the loan amount that can lower the funds you receive and increase the cost of borrowing.

Happen Bank: Best for joint loans

We like that Happen Bank (which rebranded from LendingClub in June 2026) offers long terms (two to seven years) and joint loans that can help you qualify. And if you’re using the loan to consolidate debt, Happen may discount your rate and send the funds directly to your creditors on your behalf.

One con: You’ll likely pay an origination fee up to 8% of the loan amount.

Patelco Credit Union: Best credit union loan

Not only does Patelco offer a wide range of loan terms (from six months to seven years), its range of loan amounts is also broad, from $300 to $100,000. Few other lenders offer this much flexibility in terms and amounts.

You must be a Patelco member to get a loan, but that membership also gives you access to competitive rates, no origination fees and multiple rate discounts.

LightStream: Best for large loans

LightStream offers loans up to $100,000 that can be used for almost any purpose. Its terms go up to six years for loans less than $25,000 and seven years for loans above that amount. It also offers terms up to 20 years if your loan is at least $25,000 and used for home improvements.

Unlike most other lenders, you can’t pre-qualify on LightStream’s website. But you can check rates through sites like NerdWallet.

Calculate the cost of a longer term

Loans with longer terms cost more in interest compared to shorter-term loans. For example, if you take out a $15,000 loan with a 14% APR, here’s how the monthly payment and interest costs vary, based on two different loan terms:

Lenders may also charge higher rates for long-term loans since they’re riskier. Use our personal loan calculator to see how different rates and terms influence your monthly payment and total interest.

When to consider a long-term personal loan

A long-term personal loan could make sense if:

You want to minimize monthly payments. A long-term loan is ideal if you need to keep monthly payments low, and you’re confident you can make the loan payments for the full term.

You’re borrowing for a major expense. Personal loans with longer terms can be helpful if you’re borrowing a large sum of money and need more time to pay it back — for example, if you need to borrow $50,000 for a kitchen remodel or another major home improvement project.

You’re paying off high-interest debt. You may also consider a long-term loan for debt consolidation. A debt consolidation loan saves you money if you get a lower interest rate on the loan than the average interest rate on your existing debts.

» MORE: How to choose the best personal loan term length

When to avoid long-term personal loans

A long-term personal loan may not be the best financing option if:

You want to minimize total interest payments. Borrowing over a longer term is more expensive because you’re paying interest over a longer period. Lenders also tend to charge higher rates due to the increased risk of default over long repayment terms.

Your income may fluctuate: Your financial picture will likely change over seven years. Carrying long-term debt increases the risk of missed payments and damaged credit if your income varies. You may also have to make trade-offs with financial decisions that impact your future, like saving for a down payment or retirement.

You’re not sure how much you need to borrow. Because you pay interest on the full amount you borrow, a long-term personal loan isn’t a great option if you’re not sure how much money you need. A personal line of credit, which is revolving credit that you borrow against and repay multiple times, is often a better alternative. You’ll only pay interest on the amount you spend and carry over as a balance from month to month.

How to get a long-term loan

1. Check your credit score

Your credit score is a key factor in determining whether you’re approved for a loan, as well as your interest rate and how much you can borrow. You can check your credit score for free using NerdWallet.

2. Research lenders that offer longer terms

Not all lenders offer long-term loans, and some reserve their longest terms for loan amounts of $15,000 or more. In addition, you may get offered a longer term only for specific loan purposes, like home improvements or RV purchases.

Start with our list of lenders above, but also check your bank and local credit union. Some banks offer longer terms to existing customers.

3. Pre-qualify and apply

Pre-qualify with a few lenders to preview your loan offers. Pre-qualification involves a soft credit check and allows you to compare rates and terms without hurting your credit score.

» COMPARE: Pre-qualify with multiple lenders for free on NerdWallet

Once you’ve chosen a loan offer, you’ll formally apply. The lender may ask for proof of identification, income and employment. It will also conduct a hard credit pull, which will temporarily lower your credit score. While some approval decisions are instantaneous, other lenders may take a day or two to get back to you.

4. Get funded and prepare to make your first payment

Funding time varies by lender, but most lenders fund loans within a few days. Some can even fund your loan the same day you’re approved.

Once you receive the money in your account, add the monthly payment amount to your budget and get ready for your first payment (due in about 30 days). Missing even one payment over the length of the term can hurt your credit score and result in late fees.

» MORE: How to successfully manage your personal loan