Refine resultsRefine results

 

Refine results

Loan amount 

Loan Purpose 

Annual Income 

Zip Code 

Credit Score 

Personal Loans: Estimated offers for $5,000

Personal loans for bad credit
Nerdwallet's personal loans tool helps you compare bad credit loans and find a lender with flexible terms - looking beyond just your credit score.
Showing 19 of 9

Loading your loans...

PartnerEst. APR*Est. monthly payment*Min credit score
Goldman Sachs
View details
16%
Estimated APR*
176
Est. Monthly Payment*3 year loan
580
Min VantageScore® 3.0
3 year loan
Check Rateon NerdWallet's secure website
NerdWallet
Pre-qualify before you apply
It's free, won't affect your credit, and will provide a personalized rate.
Upstart
View details
17.5%
Estimated APR*
179
Est. Monthly Payment*3 year loan
620
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
Upgrade
View details
5.5-36%
Estimated APR*
188
Est. Monthly Payment*3 year loan
620
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
LendingPoint
View details
24.7%
Estimated APR*
198
Est. Monthly Payment*3 year loan
600
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
OneMain
View details
25-36%
Estimated APR*
214
Est. Monthly Payment*3 year loan
None
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
OneMain
View details
25-36%
Estimated APR*
214
Est. Monthly Payment*3 year loan
None
Min credit score
3 year loan
Check Rateon OneMain's secure website
Avant
View details
28.98-32.91%
Estimated APR*
215
Est. Monthly Payment*3 year loan
580
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
iLoan
View details
27.59-35.99%
Estimated APR*
217
Est. Monthly Payment*3 year loan
600
Min credit score
3 year loan
Check Rateon iLoan's secure website
Lending Club
View details
33.4%
Estimated APR*
222
Est. Monthly Payment*3 year loan
600
Min credit score
3 year loan
Check Rateon NerdWallet's secure website
avatar
Amrita JayakumarLoans,Personal Loans

Getting a personal loan with bad credit

A bad credit score, one that’s below 630, doesn’t have to keep you from getting a personal loan. Some online lenders cater specifically to people with bad credit. These companies take into account your credit scores and history when deciding whether to loan you money, but they also have more flexible requirements than banks do.

While personal loans from reputable online lenders can be good options for many borrowers, NerdWallet recommends you first visit your local credit union when shopping for loans. Most credit unions offer flexible loan terms and lower interest rates than online lenders, especially for people with bad credit. The maximum annual percentage rate at a federal credit union is 18%.

If you can’t get a loan through your local credit union, NerdWallet recommends you compare offers from multiple lenders before signing any loan agreement. Rates for bad credit borrowers can vary depending on the lender’s underwriting requirements. The easiest way to compare actual rates is to pre-qualify. Find out if you pre-qualify by filling out this form or click the Check Rate button in the table above. Pre-qualification will not affect your credit score.

Bad_Credit_Loans


What rate should I expect?

Rates vary from lender to lender, but here is what interest rates for personal loans look like, on average:

How's your credit?Score rangeEstimated APR
Source: July 2016 NerdWallet lender survey
Excellent720 - 85010.94%
Good690 - 71914.56%
Average630 - 68919.84%
Bad300 - 62928.64%; lowest scores unlikely to qualify

Which lender is right for me?

NerdWallet has reviewed more than 25 lenders to help you compare and choose one that’s right for you. Below is a list of our top lenders for bad credit. You can find all of our reviews here.

LenderNerdWallet ratingBest for...
Not all lenders do business in every state.
Lending Club4.5 stars out of 5Debt consolidation
Avant4 stars out of 5Debt consolidation
LendingPoint4 stars out of 5Debt consolidation
iLoan3 stars out of 5Debt consolidation
Mariner Finance4 stars out of 5Secured and co-signed loans; human touch
OneMain Financial4 stars out of 5Secured and co-signed loans; human touch

Additional steps toward financial health

If you’re borrowing money to pay off debt, a personal loan works best if you have a plan to tackle your debts. Creating a budget and starting a savings habit are small steps that could help you build a stronger financial future.

If you don’t have an immediate need for cash, work on building your credit score. A higher score will qualify you for more loan opportunities, lower interest rates and better loan terms in the future.

Don’t know your credit score? Several personal finance websites, including NerdWallet, offer a free credit score. Look for a site the offers educational tools such as a credit score simulator plus access to your credit report.

 

We want to hear from you and encourage a lively discussion among our users. Please help us keep our site clean and safe by following our posting guidelines, and avoid disclosing personal or sensitive information such as bank account or phone numbers. Any comments posted under NerdWallet's official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise.