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Personal loan rates from top lenders
Rates updated as of May 8, 2025
6.70-35.99%
$1K-$50K
None
3 to 5 years
- Accepts borrowers with bad credit or thin credit histories.
- Has a low income requirement.
- Fast approval and funding.
- Allows secured loans.
- Option to change your payment date.
- Origination fee.
- No rate discounts.
- No joint or co-signed loans.
- No direct payment to creditors on debt-consolidation loans.
- 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.
2025 best personal loan for fair credit
7.99-35.99%
$1K-$50K
580
2 to 7 years
- Secured and joint loans.
- Multiple rate discounts.
- Mobile app to manage loan payments.
- Direct payment to creditors with debt consolidation loans.
- Long repayment terms on home improvement loans.
- Origination fee.
- No option to choose your payment date.
- 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.
2025 best personal loan for excellent credit
8.99-29.99%
$5K-$100K
None
2 to 7 years
- Multiple rate discounts.
- Fast funding.
- Large loan amounts.
- Joint loan option.
- Mobile app to manage loan.
- No option to choose initial payment date.
- High minimum loan amount.
- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
2025 best personal loan for good credit
6.49-25.29%
$5K-$100K
660
2 to 7 years
- No fees.
- Rate discount for autopay.
- Long repayment terms and large loan amounts.
- Fast funding.
- Rate Beat program and Experience Guarantee.
- No option to pre-qualify.
- No direct payment to creditors with debt consolidation loans.
- High minimum loan amount.
- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Our picks for the best lenders for every need
Calculate your payment
See how different loan amounts, rates, and terms affect your monthly payment
Estimated monthly payment
$309.92
Total interest over 3 years
$1,156.95
Total loan payment
$11,156.95
Loan amount
$10,000
Interest rate
7.25%
Loan term (years)
3
See how much you can save with a personal loan
High interest credit card
Amount
$40,000
Est. APR
21.91%
Monthly payment
$1,102.71
Interest (5 years)
$26,162.64
Personal loan
Amount
$40,000
Est. APR
16.32%
Monthly payment
$979.54
Interest (5 years)
$18,772.19
Estimated savings
$7,390
*All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.
Meet our Nerds
We’ve done the research so you can find the right personal loan
Frequently asked questions
What is a personal loan?
A personal loan is money you borrow from an online lender, bank or credit union that you use to pay for almost anything. Many people use personal loans to consolidate high-interest debt, like credit cards, or to pay for a personal expense, like a wedding or large purchase. There are different types of personal loans, depending on how you plan to use the money and what you can qualify for.
What can I use a personal loan for?
Personal loans can be used for almost anything. Common uses include debt consolidation and home improvement. Even when you see loans advertised as travel loans or wedding loans, that’s just branding — you’re still getting a personal loan.
What are the requirements to qualify and apply for a personal loan?
Lenders review applicants’ credit, income and debt during the loan approval process. Requirements vary, but you’ll typically need to provide your Social Security number and proof of identity, address, income and employment. You’ll have the best chances of qualifying if you have good or excellent credit and enough income to comfortably make loan payments in addition to other financial responsibilities. Many lenders let you pre-qualify for a personal loan to check your chances of approval with no impact to your credit score.
What credit score is needed for a personal loan?
There’s no universal credit score required for a personal loan, but most lenders look for scores in at least the high-500s to mid-600s (out of 850). Borrowers with higher scores usually get better rates and terms. Lenders also consider your credit history and income before making a decision. The better your credit and finances, the more likely you are to get approved and qualify for lower interest rates and higher loan amounts.
How much can I borrow with a personal loan?
The sky can feel like the limit with personal loans, with some lenders offering loan amounts up to $100,000 for the most qualified borrowers. Most lenders, though, offer loans a little closer to earth, with amounts from $1,000 to $50,000. Use our personal loan calculator to see how different loan amounts, rates and terms affect your monthly payment.
Will checking my rates affect my credit score?
Shopping around for the best rate is a good idea, but be strategic so you don’t harm your credit. Find lenders that allow you to pre-qualify for a personal loan with a soft inquiry. Pre-qualifying won’t ding your score, so you can check multiple lenders for the best terms. Time your credit applications, including credit cards and loans, roughly six months apart to avoid credit damage.
Can I qualify for a personal loan if I have bad credit?
A bad credit score doesn’t exclude you from getting a personal loan; some online lenders have low minimum credit score requirements. Credit unions often consider your standing as a member during the loan approval process — not just your credit score. Opting for a secured, co-signed or joint loan could strengthen your chances of getting a personal loan with bad credit.
How does shopping for a personal loan work?
Let’s go back a step. Before you even start shopping for a personal loan, make sure you know your own numbers. What’s your credit score? How much do you need to borrow? How much could you afford to pay back each month? Knowing that can give you a more solid sense of what to look for when you’re comparing lenders. Once you’ve found a few good options, get pre-qualified with those lenders so you can compare offers head to head.
What interest rate can I expect in May?
Interest rates on personal loans tend to hold steady, collectively ranging from about 7% to 36% APR. Currently, as a result of economic pressures, average rates on personal loans are high. What rate you get depends largely on your credit score, income and how much debt you already have. Borrowers with good to excellent credit scores get the lowest rates.
| Borrower credit rating | Score range | Estimated APR |
| Excellent | Any score in the high 700s or higher. | 12.74%. |
| Good | Any score from the mid-600s to mid-700s. | 16.61%. |
| Fair | Any score in the mid-500s to low 600s. | 19.92%. |
| Bad | Scores from 300 to the high 500s. | 21.64%. |
What are the best personal loans rates for May?
Our team tracks and compares current APRs from more than 35 personal loan lenders. Here are lenders with the lowest personal loan rates this month.
| Lender | APR range | Loan amount | Min. credit score |
|---|---|---|---|
| SoFi | . | $5,000 - $100,000. | None. |
| Discover | . | $2,500 - $40,000. | . |
| LightStream | . | $5,000 - $100,000. | . |
| Upstart | . | $1,000 - $50,000. | None. |
| PNC | . | $1,000 - $35,000. | None. |
| Wells Fargo | . | $3,000 - $100,000. | None. |
| Achieve | . | $5,000 - $50,000. | 640. |
| Best Egg | . | $2,000 - $50,000. | 600. |
| LendingPoint | . | $1,000 - $36,500. | 640. |
How quickly can I get a personal loan?
Many lenders can fund a personal loan within a day or two, though it could take about a week. The quickest personal loan lenders offer same-day funding. Gather together documents you’ll need to apply — like your I.D., paystubs and tax returns — to speed up the process, and respond to any lender requests in a timely manner.
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