| Lender | User ratings | Best for… | Minimum credit score | APR range | Loan terms | Loan amounts |
|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | APR discounts | 620 | 7.99% - 29.99% | 24 to 60 months | $5,000 - $50,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Fast funding | 580 | 9.95% - 35.99% | 12 to 60 months | $2,000 - $35,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Secured loans | 580 | 5.99% - 29.99% | 36 to 84 months | $2,000 - $50,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Credit card consolidation | 640 | 11.52% - 24.81% | 24 to 60 months | $5,000 - $40,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Smaller loans | 600 | 9.57% - 35.99% | 36 to 60 months | $1,000 - $40,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Mobile app loan management | 640 | 7.99% - 35.99% | 24 to 72 months | $2,000 - $36,500 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Peer-to-peer lending | 640 | 6.99% - 35.99% | 24 to 60 months | $2,000 - $50,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Flexible loan terms | 580 | 8.49% - 35.99% | 24 to 84 months | $1,000 - $50,000 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Low credit scores | 300 | 5.20% - 35.99% | 36 and 60 months | $1,000 - $50,000 |
| APR range | 7.99% - 29.99% |
| Loan amounts | $5,000 - $50,000 |
| Term (months) | 24 to 60 months |
| Origination fee | 1.99% - 5.99% |
| Minimum credit score | 620 |
| Pros | Cons |
|---|---|
Multiple APR discounts available Have the option of working with a dedicated loan specialist Low minimum APR | Charges an origination fee High maximum APR High minimum loan amount |
Most of our favorite personal loan lenders offer at least one discount (usually for signing up for autopay) — Achieve has three. If you’re taking out a loan to pay off existing debt, you’ll get an APR discount if you let Achieve repay those creditors directly. You can also earn a discount for showing proof of sufficient retirement savings (although the company doesn’t define what they mean by “sufficient”). Finally, adding a creditworthy co-borrower to your loan could net you another discount.
But unlike some lenders, you’re guaranteed to pay an origination fee with Achieve and it doesn’t offer the common autopay discount. Further, with a minimum loan amount of $5,000, Achieve may not be the right lender if you need a small personal loan.
Read our full Achieve personal loan review.
| APR range | 9.95% - 35.99% |
| Loan amounts | $2,000 - $35,000 |
| Term (months) | 12 to 60 months |
| Origination fee | Up to 4.75% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Offers prequalification Flexible term lengths May receive next-day funding | Not available in every state $25 if your payment is 10+ days late late payment fee High minimum APR |
If you’re experiencing a financial emergency, Avant could be worth consideration. Eligible borrowers could get their funds as quickly as the next business day once approved. Though Avant’s minimum APR is a bit higher than some other lenders, it does offer a 12 to 60-month repayment term option, potentially reducing the amount of interest you pay over the life of your loan.
Avant considers borrowers with credit scores as low as 580 — but if your score isn’t quite up to snuff, you may have a hard time qualifying, since this lender doesn’t allow cosigners. It also charges an origination fee of up to Up to 4.75%, though that is lower than some lenders charge.
Read our full Avant personal loan review.
| APR range | 5.99% - 29.99% |
| Loan amounts | $2,000 - $50,000 |
| Term (months) | 36 to 84 months |
| Origination fee | 0.99% - 8.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Low minimum credit score Relatively low APRs Flexible repayment terms | Doesn’t allow co-borrowers Charges an origination fee Not available in Iowa, Vermont or West Virginia or Washington, D.C. |
Secured loans typically come with lower interest rates, but they can be risky. If you don’t make your loan payments, the lender can legally seize the collateral you offered to obtain the loan. Still, if you’re confident in your ability to repay and want the low rates that come with a secured loan, Best Egg could be a good option.
If you don’t want to put up collateral, Best Egg also offers traditional unsecured personal loans, albeit with higher APRs and less flexible repayment terms.
Read our full Best Egg personal loan review.
| APR range | 11.52% - 24.81% |
| Loan amounts | $5,000 - $40,000 |
| Term (months) | 24 to 60 months |
| Origination fee | 0.00% - 5.00% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
No late fees, returned payment fees or prepayment penalties Transparent eligibility requirements Can prequalify with soft credit pull | Slow funding timeline High minimum APR High minimum borrowing amount |
Happy Money is an online platform that links borrowers with partner lenders that offer credit card consolidation loans. While this lender will pay your credit card providers directly, it can take up to 30 days for the payments to be reflected on your card. With a minimum credit score requirement of 640, they can be a good option for fair credit borrowers.
However, if you’re in a hurry, Happy Money probably won’t be the right lender for you. Approval decisions can take as long as seven business days — plus, after you’re approved, you may need to wait three to six more days before the funds land in your account.
Read our full Happy Money personal loan review.
| APR range | 9.57% - 35.99% |
| Loan amounts | $1,000 - $40,000 |
| Term (months) | 36 to 60 months |
| Origination fee | 3.00% - 8.00% |
| Minimum credit score | 600 |
| Pros | Cons |
|---|---|
Low minimum loan amount Can add a co-borrower May be approved in just a few hours Available in all states | Potential for high origination fee High minimum APR Charges a late payment fee, but doesn’t disclose fee amount |
LendingClub is an online personal loan marketplace that offers loans ranging from $1,000 to $40,000. Their low minimum borrowing amount might be beneficial for those looking for a personal loan for everyday bills.
LendingClub offers joint personal loans. If you have fair credit, you might enjoy lower APRs by adding a creditworthy co-borrower to their loan. But this strategy isn’t without its risks — the person who signs a loan with you will be held equally responsible if you’re unable to repay.
Read our full LendingClub personal loan review.
| APR range | 7.99% - 35.99% |
| Loan amounts | $2,000 - $36,500 |
| Term (months) | 24 to 72 months |
| Origination fee | 0.00% - 10.00% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
Quick approval decisions May receive a lower interest rate after six months of on-time payments | No cosigners or joint loans Potential for high origination fee Not available in Nevada or West Virginia Fair-credit borrowers may see an APR of nearly 36% |
LendingPoint’s mobile app could be perfect for tech-savvy borrowers. Both Apple and Android users rate the app highly (4.8 and 4.4, respectively) and with it, you can prequalify and apply for your loan, check your credit score and keep track of your spending, debt and income.
LendingPoint offers a flexible range of repayment terms, helping this lender appeal to the needs of many borrowers. Keep in mind, though, that you could be facing a steep origination fee (0.00% - 10.00%) and their minimum APR (usually reserved for those with excellent credit) is a bit high.
Read our full LendingPoint personal loan review.
| APR range | 6.99% - 35.99% |
| Loan amounts | $2,000 - $50,000 |
| Term (months) | 24 to 60 months |
| Origination fee | 1.00% - 5.00% |
| Minimum credit score | 640 |
| Pros | Cons |
|---|---|
Joint applications welcome No prepayment penalties Can be used for almost anything | Not available in Iowa or West Virginia Origination fees, late payment fees, insufficient fund fees and check processing fees Loan approval and disbursement may be slow |
Prosper is an online peer-to-peer lending marketplace, meaning loans are funded by individual investors. Depending on eligibility, you could access personal loans for fair credit that can be used for a variety of purposes, from home improvement projects to engagement ring financing. These loans come with fixed rates and no prepayment penalties, so you’ll know what to expect from your monthly payments and can get ahead when you are able.
As is typical with peer-to-peer lending, the application process can take longer than if you worked with a direct lender. The formal loan approval decision takes up to five business days; upon loan approval, funds can typically be disbursed within one to three business days.
Prosper also charges more fees than some lenders, including a $5 fee for paying by check (or 5% of your payment, whichever is less).
Read our full Prosper personal loan review.
| APR range | 8.49% - 35.99% |
| Loan amounts | $1,000 - $50,000 |
| Term (months) | 24 to 84 months |
| Origination fee | 1.85% - 9.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
Funds may be available as soon as one business day after approval Offers joint personal loans APR discounts for autopay and allowing Upgrade to pay off creditors directly | $10 fee for late payments and insufficient funds Potential for high origination fee High maximum APR |
Upgrade is an online lender that offers one of the longest personal loan terms around: up to 24 to 84 months (or seven years). This extended loan term could help provide some breathing room, especially if you’re borrowing the company’s max loan amount of $50,000. Keep in mind, though, that a long loan term means you’ll be paying more in overall interest charges.
Upgrade’s maximum origination fee is steep, and you’ll also be charged for late payments or insufficient funds. However, it doesn’t charge prepayment penalties, as many of the other lenders on this list do.
Read our full Upgrade personal loan review.
| APR range | 5.20% - 35.99% |
| Loan amounts | $1,000 - $50,000 |
| Term (months) | 36 and 60 months |
| Origination fee | 0.00% - 12.00% |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
Low minimum credit score requirement Offers a wide range of loan amounts Minimum APR is the lowest on this list | Maximum origination fee is the highest on this list Not available in Iowa or West Virginia Limited repayment term options |
Upstart is a digital loan marketplace that uses artificial intelligence (AI) to connect consumers with partner lenders. Upstart also says that its AI modeling helps it look past low credit scores and instead predict whether an applicant will default based on additional criteria.
Since it accepts borrowers with credit scores as low as 300, Upstart could be ideal for bad credit loans. Excellent-credit borrowers could also enjoy an APR as low as 5.20%, much lower than what many other lenders offer. Upstart’s minimum loan term is a bit higher than some, but you can pay off your loan early with no prepayment penalty.
Read our full Upstart personal loan review.
Along with a low minimum credit score requirement, Upstart may also approve applicants with no credit. But if your credit score dips significantly between the time you’re approved and when your funds are disbursed, Upstart may cancel your loan.
Applicants are required to be U.S. citizens or permanent residents of at least 18 years old and have a Social Security number, email address, bank account and a job (or regular source of income). Job offers that start within six months are also acceptable.
A fair credit score ranges from 580 to 669. If you have a fair credit score, you may not qualify for a lender’s lowest APR, and some lenders may not approve you for a personal loan at all.
If you get your credit score up to a 670 (which is considered a good credit score), you’ll be more likely to qualify for loans and receive better offers.
| Credit band | Credit type | Description |
|---|---|---|
| 300 to 579 | Poor | Considered a risky borrower — may not qualify with many lenders |
| 580 to 669 | Fair | May have a thin credit history, have missed a couple of payments or have a high income-to-debt ratio |
| 670 to 739 | Good | Above-average borrower in the eyes of lenders and may qualify for most loans |
| 740 to 799 | Very good | Considered a dependable borrower and may be eligible for low APRs |
| 800 to 850 | Excellent | Considered a low-risk borrower and may receive the lowest APRs |
There are many places to get a personal loan if you have fair credit, including online lenders, brick-and-mortar banks and credit unions.
Online lenders: Online personal loans for fair credit are a fairly common way to borrow money. Unfortunately, the internet can also be rife with scammers. Generally, the lower your credit score, the more of a target you may be for predatory lending.
We’ve used our expert eye to vet each lender on this list. Still, always practice due diligence before providing personal information online.
Banks: Some borrowers may feel more comfortable with the in-person experience that borrowing from a brick-and-mortar bank can provide. At the same time, banks typically have more stringent requirements compared to online lenders, so you might not qualify for a personal loan if you have fair credit.
Credit unions: Personal loans from credit unions come with lower APRs, but you have to be a member before you’re eligible. Some credit unions are only available for certain borrowers, such as military members or employees of a specific organization.
You might still be eligible for a loan with fair credit — but it’ll probably be more expensive, thanks to a high APR.
A 2022 LendingTree study analyzed random LendingTree borrowers across many forms of credit (mortgages, personal loans, credit cards and auto loans). The data found that increasing your credit score from fair to very good could save you up to $50,000 through lower interest rates and fewer fees.
Below you’ll find the average APRs provided to LendingTree users from our lending partners, organized by credit score:
| Credit score range | Average APR |
|---|---|
| 720+ | 14.37% |
| 680-719 | 20.86% |
| 660-679 | 32.14% |
| 640-659 | 44.09% |
| 620-639 | 61.13% |
| 580-619 | 87.74% |
| 560-579 | 122.22% |
| Less than 560 | 160.81% |
Source: LendingTree data from 2023 Q1
Improving your credit score isn’t an overnight process. Still, the time and effort it takes can open the door to a larger lender selection, lower APRs and higher loan amounts. Here’s what you can do to boost your credit score:
Paying your bills in full and on time is the most important step to getting your credit in order. Just a single missed payment can cause your credit score to plummet by up to 180 points, as payment history accounts for 35% of your score.
Credit monitoring can help you keep tabs on your financial health. Since many services will send you an alert when it detects suspicious activity, credit monitoring can make it easier for you to dispute anomalies or put a stop to credit-ruining identity theft.
No credit is better than bad credit, but a thin credit history can prevent you from moving from fair credit into the good range. If you’re struggling to build credit, you might want to consider a secured credit card. You’ll need to put down a small deposit, but using a secured credit card responsibly might help you improve your score and gain access to better loan options in the future.
The amount of debt you have is one of the factors that affects your credit score. If you owe money on several credit cards, try to pay them down. After they’re paid off, it’s best to keep them open and use them sparingly. Closing your account completely can be detrimental, as it lowers the average age of your credit history.
Unfortunately, it can be common to find a mistake on your credit report. The good news is that if you find one, you can dispute the credit report error with the relevant credit bureau. Start by checking your credit report at AnnualCreditReport.com and carefully analyzing your reported history.
Comparing lenders is key to finding the loan with the most attractive terms for your situation (and credit profile). If you’re on the hunt for a personal loan for fair credit, keep an eye on:
Qualifying for a loan with fair credit isn’t always easy, but there are some steps you can take to make the process go a bit more smoothly.
Avoid applying for new credit: When you apply for new credit, lenders will typically perform a hard credit inquiry to examine your credit score and history. These hard pulls can temporarily damage your credit score, lowering it further. If you know you’ll need to apply for a personal loan, avoid applying for other credit to keep your score as high as possible.
Add a cosigner: Using a cosigner to get a personal loan can help your chances of getting approved, especially if they have a strong credit profile. However, this isn’t a risk-free route: If you’re unable to repay the loan, it’ll negatively impact your cosigner’s credit and they may be held liable for repayment.
Prequalify: Prequalification doesn’t hurt your credit score and can help you see the loans you’re eligible for before jumping into the formal application process.
Click the button below and head over to LendingTree’s personal loan marketplace. There, you can prequalify with up to five lenders at once with just a few clicks and no impact to your credit score.
While personal loans for fair credit may be a good option for some people, other alternatives worth exploring may include the following:
Buy now, pay later (BNPL): Buy now, pay later apps allow you to make everyday purchases with a low (or no) down payment. However, these apps are easy to use, so it can take discipline to avoid overspending.
Secured loans: Secured loans can be a good alternative to fair credit loans, especially if you have a lower credit score and are having trouble getting approved. A secured loan requires that you put down collateral (like a vehicle) in order to lower your risk in the eyes of lenders. Keep in mind that if you default on the loan, you risk losing your collateral.
Credit cards: If you need access to funds on a rolling basis rather than a lump sum, a credit card may be a better choice than a personal loan.
We reviewed more than 30 lenders to determine the overall best nine personal loans for borrowers with fair credit. To make our list, lenders must offer personal loans to borrowers with credit scores below 670. We further prioritized lenders with competitive annual percentage rates (APRs) and considered the following factors:
Although it may be more difficult to secure a personal loan with a fair credit score, there are many lenders that are willing to work with borrowers with less-than-perfect credit. However, keep in mind you may receive a higher APR, as lower rates are typically reserved for borrowers with good or excellent credit.
Loans for fair credit often require that you provide documents proving your income and identification. When applying for a personal loan, you’ll most likely need to provide documents such as W-2s, a government-issued form of ID and bank statements.
Loans that don’t require credit checks, like payday loans, can be easy for borrowers to qualify for and offer quick access to cash. However, these types of loans are often predatory and can charge interest rates as high as 400%. Instead, consider a payday alternative loan (PAL) or a secured loan.
The minimum credit score required for a personal loan will vary from lender to lender. Some lenders don’t specify their minimum required scores, so ask the lender directly before applying. Some lenders offer loan products specifically for borrowers with fair or bad credit.