Best Lenders for a $50,000 Personal Loan in 2026
A $50,000 personal loan can cover a home remodel project or another large expense. Pre-qualify and compare multiple lenders to find the best rate.
Checking rates is free and won't impact your credit score.
How to choose a $50,000 loan
If you need to borrow a large sum of money, several lenders offer personal loans up to $50,000. That amount could fund a home renovation, consolidate maxed-out credit cards, finance an elective surgery or be used in a variety of other ways.
As you review the lenders below, first consider their credit score requirements. Borrowers must meet those minimums in order to qualify, and the stronger your credit, the more likely you'll be approved for the rate and loan amount you want. Also compare lenders’ annual percentage rates, which represent the total cost of the loan, as well as any opportunities for rate discounts.
Best for secured loans
2026 NerdWallet award winner
6.99 - 35.99%
$2K - $50K
600
3 to 5 years
Pros, Cons, and Our View
Expert take on Best Egg
Best Egg offers a unique secured loan option, but not joint or co-sign loans. It's a good option for home improvement or debt consolidation loans, with a wide range of loan amounts and fast funding. Read our review of Best Egg.
- Time to get funds:
- 1 day
- Availability:
- Lends in all states except Iowa, Vermont, West Virginia, Washington and D.C.
- Min income:
- Varies by state
- Soft credit check:
- Yes
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Emergency, Wedding, Vacation, Auto, Moving and Business
- Range of loan amounts
- Secured loans
- Direct payment to creditors
- Next-day funding
- Free credit score
- Origination fee
- No co-sign or joint loans
Best for joint loans
2026 NerdWallet award winner
6.53 - 35.99%
$1K - $60K
600
2 to 7 years
Pros, Cons, and Our View
Expert take on LendingClub
A LendingClub personal loan is a strong option for qualified borrowers who want to pay off debt. Funding time isn't as fast as some competitors, but you'll still get funds within a day or two. Read our review of LendingClub.
- Time to get funds:
- 1-2 days
- Availability:
- Lends in all 50 states and Washington, D.C.
- Rate discounts:
- Direct payment to creditors
- Min income:
- Direct payment to creditors
- Soft credit check:
- Yes
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Medical, Emergency, Wedding, Vacation and Auto
- Direct payment to creditors
- Fast funding
- Joint loans
- Flexible repayments
- Origination fee
- No secured or co-sign loans
Best for home improvement
2026 NerdWallet award winner
6.49 - 24.89%
$5K - $100K
660
2 to 7 years
Pros, Cons, and Our View
Expert take on LightStream
LightStream is a solid option for borrowers with strong credit who need a large loan. Its low starting rates are hard to beat, and it charges zero fees. But it doesn't offer some common services, like direct payment to creditors for consolidation loans or a mobile app. Read our review of LightStream.
- Time to get funds:
- Same day
- Availability:
- Lends in all states and Washington, D.C. except Vermont, Rhode Island and Massachusetts
- Min income:
- No minimum requirement
- Soft credit check:
- No
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Emergency, Wedding, Vacation, Auto and Adoption
- Competitive APRs
- Rate discounts
- No fees
- Large loans and long repayment terms
- Same-day funding
- Limited ability to pre-qualify
- High minimum loan amount
- No direct payment to creditors
- No mobile app
Best for fast funding
2026 NerdWallet award winner
7.74 - 35.49%
$5K - $100K
None
2 to 7 years
Pros, Cons, and Our View
Expert take on SoFi Personal Loan
SoFi offers multiple rate discounts on its personal loans, along with large loan amounts and the option to add a co-borrower. You need at least good credit to qualify, and the minimum loan amount is high compared to competitors. Read our review of SoFi Personal Loan.
- Time to get funds:
- Same day
- Availability:
- Lends in all 50 states and Washington, D.C.
- Rate discounts:
- Autopay, Direct payment to creditors and Direct deposit accounts
- Min income:
- No minimum requirement
- Soft credit check:
- Yes
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Medical, Emergency, Wedding, Vacation and Auto
- Multiple rate discounts
- Large loan amounts
- Joint loans
- Hardship assistance
- High minimum loan amount
- No secured loans
Best for debt consolidation
2026 NerdWallet award winner
7.74 - 35.99%
$1K - $50K
600
2 to 7 years
Pros, Cons, and Our View
Expert take on Upgrade
Upgrade accepts lower credit scores than similar lenders, and it offers multiple rate discounts and terms up to seven years. But you'll pay an origination fee that adds to the cost of the loan. Read our review of Upgrade.
- Time to get funds:
- 1 day
- Availability:
- Lends in all 50 states and Washington, D.C.
- Rate discounts:
- Autopay and Direct payment to creditors and checking accounts
- Min income:
- No minimum requirement
- Soft credit check:
- Yes
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Emergency, Wedding, Vacation and Auto
- Multiple rate discounts
- Secured and co-sign loans
- Fast funding
- Range of loan amounts and repayment terms
- Origination fee
- No option to choose repayment date
Best for thin- or bad-credit borrowers
2026 NerdWallet award winner
6.70 - 35.99%
$1K - $75K
None
3 to 5 years
Pros, Cons, and Our View
Expert take on Upstart
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. It offers a wide range of loan amounts, but only two repayment terms. Read our review of Upstart.
- Time to get funds:
- 1 day
- Availability:
- Lends in all states and Washington, D.C. except Maryland
- Min income:
- No minimum requirement
- Soft credit check:
- Yes
- Loan uses:
- Debt consolidation, Credit card consolidation, Home improvement, Medical, Emergency, Wedding, Vacation, Auto, Business and Moving
- No minimum credit score requirement
- Fast funding
- Secured loans
- Range of loan amounts
- Origination fee
- Only two repayment terms
- No joint or co-sign loans
- No direct payment to creditors
Explore more
Discover additional loan resources and tools
How we chose the best personal loans
Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.
30+
Lenders reviewed
30+
Lenders reviewed
We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.
25+
Categories assessed
25+
Categories assessed
Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.
60+
Data points analyzed
60+
Data points analyzed
Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
5.0
Overall score
NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
NerdWallet’s picks for the best $50,000 personal loan
Here’s what makes our picks for the best $50,000 loan stand out.
Best Egg: Best for secured loans
Best Egg offers two ways to get a secured personal loan, which is backed by an asset. By using a vehicle as collateral, you can borrow up to 250% of your vehicle’s value (to a maximum of $100,000). If you’re a homeowner, you could use fixtures in your home (like kitchen cabinets and bathroom vanities) as collateral and borrow up to $50,000. Adding collateral to secure a personal loan could improve your chances of approval or a lower interest rate.
Best Egg charges an origination fee of 0.99% to 9.99% of the loan amount.
LendingClub: Best for joint loans
LendingClub lets co-borrowers pre-qualify together for a joint personal loan. This lets the co-borrowers preview potential offers prior to completing the formal loan application.
Opting for a joint loan may increase your odds of being approved for a large amount, particularly if your co-borrower has a higher credit score or income. Another advantage of a joint loan is that you’ll have two people to share in the repayment, which can make the large monthly payments on a $50,000 loan more manageable.
LendingClub's starting rates are competitive, but the lender may charge an origination fee up to 8% of the loan amount.
🤓 Nerdy Tip
You’ll see that many lenders charge origination fees, which can be up to 10% of the loan amount and are typically taken from the loan proceeds. Say you get a $20,000 loan with a 5% origination fee. That 5% — or $1,000 — would be deducted from your loan and leave you with $19,000. And while you receive the lesser amount, you must still repay the higher amount of $20,000.
LightStream: Best for home improvement loans
LightStream offers repayment terms up to 20 years when you borrow $25,000 or more to fund home improvement projects. Its maximum loan amount is $100,000.
This lender doesn’t charge origination fees and has same-day funding, so you can get started on a home renovation project right away.
Unlike most other lenders, LightStream doesn’t allow you to pre-qualify on its website. You may be able to get personalized rates through partner websites like NerdWallet.
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 5:30 p.m. ET on a business day were funded that same day.
SoFi doesn't allow you to choose your initial payment date, but you can change the date once a year during the repayment term.
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 offers a rate discount of up to 4 percentage points if you opt for direct payment for debt consolidation.
Upgrade accepts borrowers with scores as low as 600, but its average customer's score is closer to 700. All Upgrade loans come with origination fees, ranging from 1.85% to 9.99%.
Upstart: Best for borrowers with thin or bad credit
Upstart 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 set a credit score requirement and considers applicants with thin credit histories and bad credit (scores under 600).
Most loans through Upstart have origination fees, up to 12%, which is higher than fees charged by other lenders.
» MORE: Compare the best personal loans
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. Any origination fees will be included in the APR.
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 |
Calculate your monthly payments
Use a personal loan calculator to see how different rates and terms affect the monthly payments and total interest.
Estimated monthly payment
$309.92
Total interest over 3 years
$1,157.12
Total loan payment
$11,157.12
Loan amount
$10,000
Interest rate
7.25%
Loan term (years)
3
» MORE: How to choose the best personal loan term length
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 through NerdWallet.
- Pre-qualify with lenders. Pre-qualification is a quick process that lets you check your likelihood of loan approval and preview your estimated rate, term and monthly payment. This typically requires 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. 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. However, 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.
Next steps
If a personal loan is the right option for you, pre-qualify through NerdWallet to check for offers from our partner lenders. Pre-qualifying is free, quick and does not impact your credit score.
Frequently asked questions
What credit score do I need for a $50,000 personal loan?
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.
How much income do I need for a $50,000 personal loan?
Many lenders don’t disclose income requirements, but you should have enough income to comfortably afford the monthly loan payments plus your other regular expenses. Use a personal loan calculator to estimate your monthly payments, and factor that into your budget. Boost loan approval odds by including all income sources on your application — even sources like side gig profits or alimony.
Can I get more than one personal loan at a time to borrow a total of $50,000?
Repayment term options generally range from 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, choose a longer repayment term, but you'll pay more in overall interest.
What’s the best repayment term for a $50,000 personal loan?
Lenders often consider how much existing debt you have when deciding whether to approve you for a personal loan. Some lenders do allow borrowers to have more than one personal loan at a time, but just having one loan will increase your debt-to-income ratio. If you don’t qualify for a $50,000 loan, it’s unlikely that you’ll qualify for, let's say, a $25,000 loan and then another $25,000 loan.
