- Offers loans for those with bad credit.
- Low minimum amount.
- Connects to a rewards checking account.
AP Buyline’s content is created independently of The Associated Press newsroom. Our evaluations and opinions are not influenced by our advertising relationships, but we might earn commissions from our partners’ links in this content. Learn more about our policies and terms here.
Updated June 30, 2024
We’ve all been there before — needing some cash for an unexpected expense, or to help with debt consolidation. Personal loans can be a fast way to get the cash you’re looking for. Many personal loans have reasonable interest rates, so they may cost less than credit cards. And you might be able to get a personal loan even with fair (or poor) credit. Here are some of the best personal loans available today:
| Brand Name | Best for | APR range | Minimum Credit Score | Loan amounts |
|---|---|---|---|---|
Bad credit | 8.49%-35.99% | Not disclosed | $1,000-$50,000 | |
No credit history | 7.8%-35.99% | 300 | $1,000-$50,000 | |
Co-applicant | 8.99%-35.99% | 600 | $2,000-$50,000 | |
Variety of repayment options | 9.95%-35.99% | Not disclosed, but most customers have scores between 600-700 | $2,000-$35,000 | |
Secured loans | 18.00%-35.99% | Not disclosed | $1,500-$20,000 | |
LendingPoint | Fast approval | 7.99%-35.99% | Not disclosed | $2,000-$36,500 |
Our recommendations for the easiest personal loans to get
Upgrade: Best for bad credit
Long repayment terms
Upgrade Personal Loans
Long repayment terms
Upgrade Personal Loans
APR
8.49% to 35.99%
Term
24 to 84 months
Loan amount
$1,000 to $50,000
Pros:
Cons:
- The origination fee can be high.
- Other fees might be charged and can be substantial.
Upgrade can help you get a personal loan, even with poor credit. The company has relatively high customer satisfaction scores: 4.4 out of 5 stars on Trustpilot. Funding can be fast, and you can connect to a rewards checking account, which includes a $200 bonus if you set up direct deposit and meet minimum requirements. The connected checking account is a nice perk, and Upgrade offers other financial products that are easy to get and use. The fees on these loans can be expensive, however, so pay attention to origination and late penalties. There are no fees for prepayment.
Upstart: Best for no credit history
Thin credit file
Upstart Personal Loans
Thin credit file
Upstart Personal Loans
APR
6.40% to 35.99%
Term
36 or 60 months
Loan amount
$1,000 to $50,000
Pros:
- Offers loans to those with no credit history.
- With good credit, there might be no origination fee.
- No prepayment penalty.
Cons:
- The origination fee can be as high as 12% of the loan amount.
- Late fees and other fees can be hefty.
- Paper copies of the loan agreement are $10.
Upstart specializes in offering loans to those who don’t have a traditional credit score because of insufficient credit history. It’s possible to check your rate and get prequalified without impacting your credit score. You can choose from terms ranging from three to five years. Additionally, Upstart has generally good Trustpilot ratings: a score of 4.9. Upstart charges higher than average fees, but there’s no prepayment penalty. These loans can be a good way to establish or build credit.
Prosper: Best for co-applicant
Traditional peer-to-peer lending
Prosper
Traditional peer-to-peer lending
Prosper
Loan size
$2,000 to $50,000
Term
2 to 5 years
APR
6.99% to 35.99%
Pros:
- Allows you to use a co-applicant.
- Low minimum credit score.
- Borrow up to $50,000.
Cons:
- Charges an origination fee.
- Requires investors to fund your loan.
Some lenders don’t allow for co-applicants, but Prosper does. Getting a co-applicant can help you get the cash you need if you don't qualify for a personal loan. Additionally, Prosper’s requirements for a credit score are relatively low, and they have a competitive loan amount maximum of $50,000. Trustpilot scores indicate a reasonably high level of customer satisfaction: 4.6 stars out of 5. Even though Prosper charges an origination fee, it can be fairly low. However, in some cases, you’ll still need investors to agree to fund your loan.
Avant: Best for a variety of repayment options
Low origination fee
Avant
Low origination fee
Avant
APR
9.95% - 35.99%
Term
12 to 60 months
Loan amount
$2,000 - $35,000
Pros:
- A variety of repayment options up to 60 months.
- It’s possible to get a low interest rate with fair credit.
- Grace period of 10 days for late payments.
Cons:
- The origination fee can be high.
- High late fee past the grace period.
Avant offers flexible repayment terms, ranging from as little as one year and up to five years. Additionally, Avant offers customers hardship programs and other solutions for borrowers struggling with repayment. You also have a 10-day grace period for your loan payments, so you won’t be charged a late penalty until 10 days past due. Trustpilot reviews of Avant are generally favorable: 4.6 out of 5 stars. Other fees are high, including a $25 late fee. However, there are no prepayment penalties.
OneMain Financial: Best for secured loans
OneMain Financial Personal Loans
OneMain Financial Personal Loans
APR
18.00% - 35.99%
Term
2 to 5 years
Loan amount
$1,500 - $20,000
Pros:
- One of the few lenders that offers secured loans.
- Some borrowers can get approved with poor credit.
- Prequalify with no hard credit check.
Cons:
- The origination fee can be high.
- Relatively low maximum loan amount.
- Additional fees can be expensive.
OneMain Financial allows you to get a secured loan using your car as collateral. Additionally, it’s possible to prequalify with a soft credit check, and in some states you have access to a grace period for your payments. However, OneMain Financial loans have high fees. Flat origination fees can be up to $500, and percentage-based fees can also be high. Some other fees are as high as $50. Despite these high fees, OneMain Financial has a high Trustpilot score of 4.8. Presumably, the ease of getting funds is considered attractive to customers.
LendingPoint: Best for fast approval
Lending Point Personal Loans
Lending Point Personal Loans
APR
7.99% to 35.99%
Fees
Term
24 to 72 months
Pros:
- Receive funds as fast as the next business day.
- Borrow for up to 72 months.
- Prequalification with a soft credit check.
Cons:
- The origination fee can be high.
- No co-applicant available.
- Not available in Nevada or West Virginia.
LendingPoint offers fast approval and funding, making it a good choice if you meet the requirements. You can get prequalified with a soft credit check, and terms are available for up to 72 months. The accessibility, speed and flexibility of LendingPoint make it attractive to many borrowers, as evidenced by the Trustpilot rating of 4.8 out of 5 stars. LendingPoint has some fees, but they don’t charge prepayment penalties, so you can pay off your loan faster if you choose.
How we chose the easiest personal loans to get
We considered various factors in choosing the easiest and best personal loans to apply for, including APR, origination fees, prepayment penalties, required credit score, customer satisfaction ratings and repayment terms. We also considered the search volume for a lender’s website. We tried to find personal loans that serve various consumers and needs.
How easy is it to get a personal loan?
The ease of getting a personal loan depends on your situation. Generally, it’s easier to get a personal loan if you have a high credit score and can demonstrate a stable income. Even with a poor credit score, qualifying for a personal loan and receiving relatively fast funding is still possible.
Tips for evaluating personal loans
When considering a personal loan, consider the following factors to determine which lender offers the best product for your situation:
- APR: The lower the interest rate, the less you’ll pay overall.
- Fees: Check for origination fees and other fees, such as late fees and returned payment fees. Consider lenders with lower fees and no prepayment penalties.
- Term length: A longer term length can mean lower monthly payments and can be more manageable for your budget. However, a longer term length also means you’re paying interest for longer. Think about a term length that balances your need for a lower payment with what you’ll pay over time.
- Amount borrowed: Think about how much you need to borrow. Some lenders have a minimum amount of $2,000. If you need less than that, you might look for a lender that offers lower amounts. Likewise, you might need a higher loan amount.
Frequently asked questions (FAQs)
How fast can you get a small personal loan?
It depends on the lender, but in general a small personal loan can be obtained within one or two business days.
What is the fastest loan to get?
The length of time it takes to get a personal loan depends on various factors, including your credit score, income and the required documentation. In general, you can find a lender that will offer approval the same day — and funds as early as the next business day.
Can you get an instant personal loan with bad credit?
While it may be difficult to get a fast personal loan with bad credit, it is still possible. However, you may be required to pay very high interest rates and fees.
AP Buyline’s content is created independently of The Associated Press newsroom. Our evaluations and opinions are not influenced by our advertising relationships, but we might earn commissions from our partners’ links in this content. Learn more about our policies and terms here.