Best Personal Loans for Fair Credit in 2024
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The best personal loans for fair credit offer low rates, a wide range of loan amounts and credit-building features such as free credit score access. Affordable monthly payments are key with fair-credit personal loans, because on-time payments help build your score.
You may have a harder time qualifying for a personal loan with a fair credit score — generally from 630 to 680 — but it's still possible. Here are the best personal loans for fair credit.
- 35+ personal loans reviewed and rated by our team of experts.
- 20+ years of combined experience covering personal loans and financial topics.
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- Governed by NerdWallet's strict guidelines for editorial integrity.
- 35+ personal loans reviewed and rated by our team of experts.
- 20+ years of combined experience covering personal loans and financial topics.
- Objective, comprehensive star rating system assessing 20+ categories and 70+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Compare personal loan rates in just 2 minutes
Check rates from multiple lenders at once Explore loans up to $100,000 There’s NO impact on your credit scoreBest Personal Loans for Fair Credit in 2024
8.99-35.99%
$5K-$50K
640
Achieve offers discounts for adding a co-borrower, having retirement savings and for having the lender pay off your debts directly.
- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
Prosper offers rates and fees that compare to other lenders for fair- and good-credit borrowers.
- Minimum credit score: 560; borrower average is 705.
- Minimum income: No minimum requirement; borrower average is $131,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.6% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
7.80-35.99%
$1K-$50K
None
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
- 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.
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
9.99-35.99%
$1K-$50K
580
- 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.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
7.99-35.99%
$1K-$37K
640
- Minimum credit score: 640. LendingPoint uses FICO version 9 and VantageScore version 3.0.
- Minimum credit history: 2 years.
- Maximum debt-to-income ratio: 45%, not including mortgage payments.
- Minimum annual income: $35,000. This lender accepts income from employment, alimony, retirement, child support, Social Security and disability benefits, but not a partner’s income.
- Must be at least 18 years old in most states.
- Must have a Social Security number, a government-issued photo ID and a personal bank account.
- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
7.99-35.99%
$2K-$50K
600
- 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.
- Origination fee: 0.99% - 9.99%.
11.72-17.99%
$5K-$40K
640
- Must have a valid Social Security number or individual taxpayer identification number.
- Minimum credit score: 640.
- Minimum credit history: 3 years and 2 accounts.
- Maximum debt-to-income ratio: 55%, including mortgage.
- Not a resident of Iowa, Massachusetts and Nevada.
- Origination fee: Up to 7%.
Achieve offers discounts for adding a co-borrower, having retirement savings and for having the lender pay off your debts directly.
- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
Prosper offers rates and fees that compare to other lenders for fair- and good-credit borrowers.
- Minimum credit score: 560; borrower average is 705.
- Minimum income: No minimum requirement; borrower average is $131,000.
- Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 41.6% (including mortgage).
- Must be at least 18 years old.
- Must provide Social Security number and a U.S. bank account.
- Origination fee: 1% to 9.99%.
- Late fee: The greater of $15 or 5% of the unpaid amount.
- Insufficient funds fee: $15.
- Mailed-in payment fee: $5.
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
- 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.
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
- 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.
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
- Minimum credit score: 640. LendingPoint uses FICO version 9 and VantageScore version 3.0.
- Minimum credit history: 2 years.
- Maximum debt-to-income ratio: 45%, not including mortgage payments.
- Minimum annual income: $35,000. This lender accepts income from employment, alimony, retirement, child support, Social Security and disability benefits, but not a partner’s income.
- Must be at least 18 years old in most states.
- Must have a Social Security number, a government-issued photo ID and a personal bank account.
- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
- 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.
- Origination fee: 0.99% - 9.99%.
- Must have a valid Social Security number or individual taxpayer identification number.
- Minimum credit score: 640.
- Minimum credit history: 3 years and 2 accounts.
- Maximum debt-to-income ratio: 55%, including mortgage.
- Not a resident of Iowa, Massachusetts and Nevada.
- Origination fee: Up to 7%.
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640
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On this page…
What is fair credit?
A fair credit score is generally from 630 to 689. Lenders can have their own definitions of fair credit, which may be informed by which credit scoring company they use to evaluate applications. FICO defines fair credit as 580 to 669, while VantageScore puts “near prime” scores between 601 and 660.
Some lenders review information from both companies to determine whether an applicant qualifies.
How fair credit affects your personal loan rate
Your credit score is often a key factor that determines your personal loan rate, in addition to your income and outstanding debts. A low score due to missed payments on other loans or credit cards, or because you have a thin credit profile, may indicate to a lender that you could default on a new personal loan. Lenders make up for that risk by charging higher annual percentage rates.
Moving a fair score into the good credit range (generally 690 to 719) gets you access to a wider range of personal loan options and often lower rates.
Qualified borrowers may get the most affordable loans from federal credit unions because they cap APRs at 18%.
Here are average personal loan rates by credit score:
Borrower credit rating | Score range | Estimated APR |
Excellent | 720-850. | 11.31%. |
Good | 690-719. | 13.99%. |
Fair | 630-689. | 17.79%. |
Bad | 300-629. | 21.19%. |
Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet from Sept. 1, 2024, through Sept. 30, 2024. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below 500 — are unlikely to qualify. Information in this table applies only to lenders with maximum APRs below 36%.