Best Personal Loans for Fair Credit in 2024
Compare rates and terms among the best personal loans for fair credit.
Last updated on May 14, 2024
Written by
Assistant Assigning EditorWritten by
Assistant Assigning EditorMany, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. This does not influence our product evaluations or star ratings.
View Advertiser Disclosure +
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.
Why trust NerdWallet
- 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.
Why trust NerdWallet
- 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
Default
Rate discount
Est. APR
8.99-35.99%
Loan amount
$5K-$50K
Min. credit score
640
Visit Lender
on Achieve's website
Check Rate
on NerdWallet
View details
Key Facts:
Achieve offers discounts for adding a co-borrower, having retirement savings and for having the lender pay off your debts directly.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
View details
Key Facts:
Prosper offers rates and fees that compare to other lenders for fair- and good-credit borrowers.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- 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.
Fast funding
Flexible payments
Est. APR
7.80-35.99%
Loan amount
$1K-$50K
Min. credit score
None
Visit Lender
on Upstart's website
Check Rate
on NerdWallet
View details
Key Facts:
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
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 7 years
Fees:
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
Rate discount
Est. APR
9.99-35.99%
Loan amount
$1K-$50K
Min. credit score
580
Visit Lender
on Upgrade's website
Check Rate
on NerdWallet
View details
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 years
Fees:
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
Fast funding
Flexible payments
Est. APR
7.99-35.99%
Loan amount
$1K-$37K
Min. credit score
640
Check Rate
on NerdWallet
View details
Key Facts:LendingPoint personal loans are a solid borrowing option for fair- and bad-credit borrowers. They are funded quickly and have some flexible features.
Qualifications:
- 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.
Available Term Lengths:2 to 6 years
Fees:
- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
Secured loans
Wide range of loan amounts
Est. APR
7.99-35.99%
Loan amount
$2K-$50K
Min. credit score
600
Visit Lender
on Best Egg's website
Check Rate
on NerdWallet
View details
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 years
Fees:
- Origination fee: 0.99% - 9.99%.
Fast funding
Est. APR
11.72-17.99%
Loan amount
$5K-$40K
Min. credit score
640
Visit Lender
on Happy Money's website
Check Rate
on NerdWallet
View details
Key Facts:Happy Money offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- Origination fee: Up to 7%.
Achieve Personal LoansBest for Joint fair-credit personal loans
Est. APR
8.99-35.99%
Loan amount
$5K-$50K
Min. credit score
640
Best for Joint fair-credit personal loans
Rate discount
Visit Lender
on Achieve's website
Check Rate
on NerdWallet
View details
Key Facts:
Achieve offers discounts for adding a co-borrower, having retirement savings and for having the lender pay off your debts directly.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- Origination fee: 1.99% - 6.99%.
- Late fee: $8.
ProsperBest for Peer-to-peer personal loans for fair credit
Est. APR
8.99-35.99%
Loan amount
$2K-$50K
Min. credit score
560
Best for Peer-to-peer personal loans for fair credit
Check Rate
on NerdWallet
View details
Key Facts:
Prosper offers rates and fees that compare to other lenders for fair- and good-credit borrowers.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- 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.
UpstartBest for Overall fair-credit personal loans
Est. APR
7.80-35.99%
Loan amount
$1K-$50K
Min. credit score
None
Best for Overall fair-credit personal loans
Fast funding
Flexible payments
Visit Lender
on Upstart's website
Check Rate
on NerdWallet
View details
Key Facts:
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories.
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 7 years
Fees:
- Origination: 0% to 12%.
- Late fee: 5% of the unpaid amount or $15, whichever is greater.
- Insufficient funds fee: $15.
UpgradeBest for Debt consolidation loans for fair credit
Est. APR
9.99-35.99%
Loan amount
$1K-$50K
Min. credit score
580
Best for Debt consolidation loans for fair credit
Rate discount
Visit Lender
on Upgrade's website
Check Rate
on NerdWallet
View details
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 years
Fees:
- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
LendingPointBest for Fair-credit personal loans with fast funding
Est. APR
7.99-35.99%
Loan amount
$1K-$37K
Min. credit score
640
Best for Fair-credit personal loans with fast funding
Fast funding
Flexible payments
Check Rate
on NerdWallet
View details
Key Facts:LendingPoint personal loans are a solid borrowing option for fair- and bad-credit borrowers. They are funded quickly and have some flexible features.
Qualifications:
- 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.
Available Term Lengths:2 to 6 years
Fees:
- Origination fee: Up to 10%.
- Late fee: 5% of the payment amount or $30.
Best EggBest for Secured fair-credit personal loans
Est. APR
7.99-35.99%
Loan amount
$2K-$50K
Min. credit score
600
Best for Secured fair-credit personal loans
Secured loans
Wide range of loan amounts
Visit Lender
on Best Egg's website
Check Rate
on NerdWallet
View details
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 years
Fees:
- Origination fee: 0.99% - 9.99%.
Happy MoneyBest for Credit card consolidation loans for fair credit
Est. APR
11.72-17.99%
Loan amount
$5K-$40K
Min. credit score
640
Best for Credit card consolidation loans for fair credit
Fast funding
Visit Lender
on Happy Money's website
Check Rate
on NerdWallet
View details
Key Facts:Happy Money offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.
Qualifications:
- 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.
Available Term Lengths:2 to 5 years
Fees:
- Origination fee: Up to 7%.
Our pick for
Joint fair-credit personal loans
Visit Lender
on Achieve's website
Check Rate
on NerdWallet
Achieve Personal Loans
Est. APR
8.99-35.99%
Loan amount
$5,000-$50,000
Min. credit score
640
Our pick for
Peer-to-peer personal loans for fair credit
Our pick for
Overall fair-credit personal loans
Visit Lender
on Upstart's website
Check Rate
on NerdWallet
Our pick for
Debt consolidation loans for fair credit
Visit Lender
on Upgrade's website
Check Rate
on NerdWallet
Our pick for
Fair-credit personal loans with fast funding
Our pick for
Secured fair-credit personal loans
Visit Lender
on Best Egg's website
Check Rate
on NerdWallet
Our pick for
Credit card consolidation loans for fair credit
Visit Lender
on Happy Money's website
Check Rate
on NerdWallet
» COMPARE: See your bad-credit loan options
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: