A personal loan can be a lifesaver in many situations, such as covering an emergency expense, consolidating debt or paying for a large purchase. However, some loans are harder to qualify for than others.
In 2024, the easiest personal loans to get offer more lenient credit score requirements, competitive interest rates, convenient online application processes and a variety of repayment terms and loan amounts. Some of the top lenders also allow you to apply with a co-signer, which can increase your approval chances.
Editor’s Note: This article contains updated information from a previously published story.
Easiest personal loans to get
- Upgrade: Best for poor credit.
- Prosper: Best for peer-to-peer lending.
- LendingPoint: Best for long repayment terms.
- Upstart: Best for thin credit.
- Avant: Best for fair credit.
- Oportun: Best for small loans.
- LendingClub: Best for co-borrowers.
- SoFi: Best for discounts.
Best for poor credit
Upgrade
Blueprint Rating
Fixed APR
8.49% to 35.99%
Min. credit score
580
What you should know
While you’ll typically need good credit to qualify for a personal loan, Upgrade accepts credit scores as low as 580. This could make it an ideal option if you have poor credit. You can borrow $1,000 to $50,000 with repayment terms from two to seven years. If you’re approved, you could get your funds within a day of clearing any necessary verifications — also making Upgrade a suitable choice for covering emergency expenses.
Keep in mind that this lender charges an origination fee as well as fees for late and returned payments, all of which can increase your overall borrowing costs. Additionally, while Upgrade offers rate discounts to borrowers who sign up for autopay or use their loan to pay off existing debt, the lender doesn’t disclose how much you could get off your interest rate unless you have a registered account.
Pros and cons
Pros
- Accepts poor credit scores.
- Fast funding.
- Offers discounts for autopay and debt consolidation.
Cons
- Charges an origination fee.
- Charges fees for late and returned payments.
- Doesn’t disclose information about rate discounts unless you have a registered account.
More details
- Interest rates: 8.49% to 35.99%.
- Loan amounts: $1,000 to $50,000.
- Repayment terms: 2 to 7 years.
- Fees: Origination fee (1.85% to 9.99%), late fee ($10) and returned payment fee ($10).
- Min. credit score: 580.
- Can apply with a co-signer: No (but can apply with a joint applicant).
- Can apply online: Yes.
Best for peer-to-peer lending
Prosper
Blueprint Rating
Fixed APR
8.99% to 35.99%
Min. credit score
560
What you should know
Unlike most of the lenders on this list, Prosper is a peer-to-peer (P2P) lender — in fact, it was the first P2P lending marketplace in the U.S. This means you’ll work directly with a private investor to fund your loan rather than borrowing from a traditional financial institution. Since it cuts out the middleman, a P2P loan can be easier to qualify for.
With Prosper, you can borrow $2,000 to $50,000 with a term from two to five years. You can qualify with a credit score as low as 600, and if you’re approved, you could get your funds as soon as the next business day.
Keep in mind that this lender charges multiple fees on its loans. These include an origination fee as well as fees for check payments, late payments and insufficient funds. Prosper loans also aren’t available in Iowa and West Virginia.
Pros and cons
Pros
- Offers P2P loans.
- Accepts fair credit scores.
- Fast funding.
Cons
- Charges an origination fee.
- Charges fees for check payments, late payments and insufficient funds.
- Not available in all states.
More details
- Interest rates: 8.99% to 35.99%.
- Loan amounts: $2,000 to $50,000.
- Repayment terms: 2 to 5 years.
- Fees: Origination fee (1% to 5%), check payment fee ($5 or 5% of your payment, whichever is less), late payment fee ($15 or 5% of the unpaid amount, whichever is greater) and insufficient funds fee ($15).
- Min. credit score: 560.
- Can apply with a co-signer: No (but can apply with a joint applicant).
- Can apply online: Yes.
Best for long repayment terms
LendingPoint
Blueprint Rating
Fixed APR
7.99% to 35.99%
Min. credit score
590
What you should know
LendingPoint’s repayment terms range from two to six years, which can make it a good choice if you’d prefer to spread your payments out over a longer period. Just keep in mind that picking a longer term means you’ll pay more in interest over time.
With LendingPoint, you can borrow $2,000 to $36,500 and could get your funds as soon as the next business day after approval.
Pros and cons
Pros
- Repayment terms up to 6 years.
- Fast funding.
- Accepts poor credit scores.
Cons
- Doesn’t accept co-signers or joint applicants.
- Charges an origination fee.
- Not available in Nevada or West Virginia.
More details
- Interest rates: 7.99% to 35.99%.
- Loan amounts: $2,000 to $36,500.
- Repayment terms: 2 to 6 years.
- Fees: Origination fee (0% to 8%).
- Min. credit score: 590.
- Can apply with a co-signer: No.
- Can apply online: Yes.
Best for thin credit
Upstart
Blueprint Rating
Fixed APR
7.8% to 35.99%
Min. credit score
300
What you should know
Not having a credit history or not having too little to generate a credit score (known as thin credit) can make it difficult to qualify for a personal loan. In this case, Upstart might be a good option. This is because Upstart bases its approval decisions not only on your credit but also on other variables, such as your education and employment history. While Upstart states that you’ll typically need a credit score of at least 300, you might still get approved without a credit score.
Upstart personal loans are available from $1,000 to $50,000 and come with three- or five-year terms.
Pros and cons
Pros
- Might get approved with little to no credit.
- Bases approval on alternative factors.
- Fast funding.
Cons
- Charges an origination fee as well as fees for late or returned payments.
- Limited repayment terms.
- Doesn’t accept co-signers or joint applicants.
More details
- Interest rates: 7.8% to 35.99%.
- Loan amounts: $1,000 to $50,000.
- Repayment terms: 3 or 5 years.
- Fees: Origination fee (0% to 12%), late fee (5% of past-due amount or $15, whichever is greater), and returned payment fee ($15).
- Min. credit score: 300 (possible to get approved with no credit score).
- Can apply with a co-signer: No.
- Can apply online: Yes.
Best for fair credit
Avant
Blueprint Rating
Fixed APR
9.95% to 35.99%
Min. credit score
580
What you should know
Most Avant borrowers have a credit score between 600 and 700, but you could get approved with a score as low as 580—so if you have fair credit, Avant might be a good option. The lender also provides quick approval decisions (within minutes when possible) and funding as soon as the next business day after approval.
Avant personal loans range from $2,000 to $35,000 with terms from one to five years.
Pros and cons
Pros
- Accepts poor and fair credit scores.
- Fast funding.
- Quick approval decisions.
Cons
- Charges an origination fee.
- Charges late and dishonored payment fees.
- Doesn’t accept co-signers or joint applicants.
More details
- Interest rates: 9.95% to 35.99%.
- Loan amounts: $2,000 and $35,000.
- Repayment terms: 1 to 5 years.
- Fees: Origination fee (up to 4.75%), late fee ($25; 5% of the unpaid amount (not to exceed $5) for Idaho and Oregon borrowers), and dishonored payment fee ($15).
- Min. credit score: 580.
- Can apply with a co-signer: No.
- Can apply online: Yes.
Best for small loans
Oportun
Blueprint Rating
Fixed APR
27.74% to 35.99%
Min. credit score
No specific minimum
What you should know
If you’re looking to borrow a small amount, Oportun — the only lender designated as a Community Development Financial Institution on this list — could be a good choice. While many lenders have loan minimums of $1,000 to $5,000, unsecured personal loans from Oportun range from as little as $300 ($500 minimum in some states) up to $10,000.
Secured loans from $2,525 to $18,500 are also available to borrowers in California who own eligible vehicles and use their car title as collateral to secure the loan. However, you risk losing your car if you can’t keep up with your payments.
Keep in mind that this lender charges an origination fee as well as fees for late and returned payments (fee amounts will depend on your location). Additionally, Oportun loans aren’t available in Colorado, Connecticut, Iowa, Maine, Maryland, Massachusetts, Nevada, New York, North Carolina, West Virginia or Washington, D.C.
Pros and cons
Pros
- Can borrow as little as $300.
- No specific minimum credit score.
- Might be able to apply with a co-signer in some situations.
Cons
- Charges an origination fee as well as fees for late and returned payments.
- Limited repayment term options compared to some lenders.
- Risk of losing your car if you don’t make payments on a secured loan.
More details
- Interest rates: 27.74% to 35.99%.
- Loan amounts: $300 ($500 minimum in some states) to $10,000 (unsecured); $2,525 to $18,500 (secured).
- Repayment terms: 1 to 4.08 years for unsecured loans or 2 to 5.33 months for secured loans (term options will depend on your location).
- Fees: Origination fee, late fee and returned payment fee (fee amounts will depend on your location).
- Min. credit score: No specific minimum.
- Can apply with a co-signer: Yes (in some cases).
- Can apply online: Yes.
Best for co-borrowers
LendingClub
Blueprint Rating
Fixed APR
9.57% to 35.99%
Min. credit score
No minimum
What you should know
Unlike most of the lenders on this list, LendingClub allows borrowers to apply for a personal loan with a co-borrower (also called a joint applicant). If you opt for a joint loan, LendingClub will consider qualifications from both you and your co-borrower. This could help you get approved for a higher amount or better rate than you’d get on your own, even if you don’t necessarily need a joint applicant to be eligible for a loan.
With LendingClub, you can borrow $1,000 to $40,000 and choose a term from three to five years.
Pros and cons
Pros
- Co-borrowers allowed.
- Accepts poor and fair credit scores.
- Quick approval decisions in most cases.
Cons
- Charges an origination fee as well as fees for late payments and insufficient funds.
- Doesn’t accept co-signers.
- Limited repayment terms.
More details
- Interest rates: 9.57% to 35.99%.
- Loan amounts: $1,000 to $40,000.
- Repayment terms: 3 to 5 years.
- Fees: Origination fee (2% to 6%), late fee (5% of outstanding payment amount or $15, whichever is greater), and insufficient funds fee ($15).
- Min. credit score: No minimum.
- Can apply with a co-signer: No.
- Can apply online: Yes.
Best for discounts
SoFi
Blueprint Rating
Fixed APR
8.99% to 29.49%
Min. credit score
680
What you should know
SoFi offers several rate discounts to its borrowers that can help reduce your overall loan costs. You can get 0.25% off your rate if you sign up for autopay and another 0.125% off if you already have a SoFi account. Another 0.25% discount is available if you take out a personal loan to consolidate debt and opt to have SoFi pay your creditors directly.
SoFi also charges no fees on its loans, which can save you even more money. Additionally, borrowers can take advantage of multiple member benefits, including unemployment protection, career advice and financial planning.
With SoFi, you can borrow $5,000 to $100,000 with terms ranging from two to seven years.
Pros and cons
Pros
- Multiple discounts (up to 0.625%).
- Variety of member benefits.
- Fast funding.
Cons
- Doesn’t accept co-signers (but does allow joint applicants).
- Stricter eligibility requirements compared to some lenders.
- Not available in all states.
More details
- Interest rates: 8.99% to 29.49%.
- Loan amounts: $5,000 to $100,000.
- Repayment terms: 2 to 7 years.
- Fees: None.
- Min. credit score: 680.
- Can apply with a co-signer: No.
- Can apply online: Yes.
Compare the easiest personal loans to get
| INTEREST RATES | LOAN AMOUNTS | MIN. CREDIT SCORE | ACCEPTS CO-SIGNERS? | ONLINE APPLICATION? | |
|---|---|---|---|---|---|
Upgrade | 8.49% to 35.99% | $1,000 to $50,000 | 580 | No (joint applicants permitted) | Yes |
Prosper | 8.99% to 35.99% | $2,000 to $50,000 | 560 | No (joint applicants permitted) | Yes |
LendingPoint | 7.99% to 35.99% | $2,000 to $36,500 | 600 | No | Yes |
Upstart | 7.8% to 35.99% | $1,000 to $50,000 | 300 | No | Yes |
Avant | 9.95% to 35.99% | $2,000 to $35,000 | 580 | No | Yes |
Oportun | 34.95% to 35.99% (depending on your state and loan type) | $300 to $18,500 (larger loans require collateral) | No specific minimum | Yes (in some cases) | Yes |
LendingClub | 8.98% to 35.99% | $1,000 to $40,000 | No minimum | No (joint applicants permitted) | Yes |
SoFi | 8.99% to 29.49% | $5,000 to $100,000 | 680 | No (joint applicants permitted) | Yes |
All rates include autopay discounts where noted by the lender and are accurate as of May 8, 2024.
Methodology
Our expert writers and editors have reviewed and researched multiple lenders to help you find the easiest personal loan to get. Out of all the lenders considered, the eight that made our list excelled in areas across the following categories (with weightings): loan details (20%), loan cost (25%), eligibility and accessibility (35%), customer service (15%) and ease of application (10%).
Within each major category, we considered several characteristics, including maximum loan amounts and terms, APR ranges, late payment fees, minimum credit score requirements and co-signer acceptance. We also evaluated each provider’s customer support options and customer reviews as well as if an online application is offered.
Why some lenders didn’t make the cut
Of the personal loan lenders that we reviewed, only a fraction made the cut. The reasons for this varied by lender, with some receiving lower ratings due to having stricter credit score requirements while others had limited customer service options or poor customer reviews.
How easy is a personal loan to get?
How easy it is to get a personal loan depends on several factors, including the lender you choose as well as your financial situation. If you have good credit (usually a FICO score of 670 or higher), verifiable income and a low debt-to-income ratio, you’ll have a greater chance of qualifying.
There are also several lenders that accept lower credit scores. For example, Oportun and LendingClub have no specific minimum credit score requirement. However, keep in mind that personal loans for bad credit tend to come with higher interest rates compared to good credit loans.
Tips for comparing easy personal loans
While some personal loans are easier to get, they might not come with the most competitive rates or favorable terms. Before you apply, it’s important to shop around and compare as many lenders as possible to find the right loan for your needs.
Here are some tips to help you weigh your options:
Compare interest rates
Your interest rate will be one of the biggest determining factors of your overall borrowing costs. Personal loan interest rates generally range from under 6% up to 36%, depending on the lender. You’ll typically need good to excellent credit to qualify for the best advertised rates.
Consider repayment terms
The length of your repayment term will impact both the monthly payment as well as your total interest charges. Personal loan terms typically range from one to seven years, depending on the lender. In general, you’ll pay less in interest and might even qualify for a lower rate with a shorter term — though your monthly payments will be higher. You could also opt to extend your term to reduce your monthly payments, though this means you’ll pay more in interest over the life of the loan.
Tip: You can use our personal loan calculator to estimate what your monthly payments and total interest costs could look like with different repayment terms.
Look into fees
Many lenders charge fees on personal loans — such as origination fees and late fees —that can increase your total cost. Be sure to ask about any potential charges before committing to a loan.
Consider a co-signer or joint applicant
If you’re struggling to get approved on your own, applying with a creditworthy co-signer or joint applicant could make it easier to qualify. Having a co-signer or co-borrower could also help you get approved for a lower rate than you’d get on your own.
Not all lenders permit co-signers or joint applicants, so you’ll have to double-check before applying. Also keep in mind that a co-signer will be on the hook if you can’t make your payments while a joint applicant will share equal responsibility for the loan from the start.
Research the lender’s reputation
Be sure to check customer reviews and ratings of the lenders you’re considering with sites like the Better Business Bureau or Trustpilot. A lender’s reputation can give you an idea of what to expect as far as reliability, trustworthiness, customer service and more. You might also gain insight into how easy it is to get approved.
How to apply for a personal loan
If you’re ready to apply for a personal loan, follow these steps:
1. Check your credit
While some lenders make their loans easier to get by accepting lower credit scores, it’s still important to check your credit to see where you stand. This is because the lender will review your credit when you apply to determine if you qualify. Your credit also has an impact on the interest rate you get — in general, the higher your credit score, the better your rate will be.
You can use a site like AnnualCreditReport.com to review your credit reports for free. Be sure to report any errors to the appropriate credit bureau to potentially boost your credit score.
2. Shop around and compare lenders
It’s important to research and compare your options with as many lenders as possible to find a loan that suits your needs. As you shop around, consider factors like interest rates, loan amounts, repayment terms and lender reputability. Also look into each lender’s eligibility requirements and, if you plan to apply with a co-signer or co-borrower, whether they’re permitted.
3. Pick a loan option and apply
After you’ve done your research, pick the lender you like best. You’ll then need to submit a full application. In most cases, this can be done online, though some traditional banks or credit unions might require you to visit a loan officer at a local branch. Also be prepared to provide required documentation, such as pay stubs or tax returns.
As you fill out the application, make sure all of the information is as accurate as possible. Also respond to any requests from the lender for additional information quickly to prevent any delays in your loan’s processing.
4. Get your funds
If you’re approved, the lender will have you sign a loan agreement detailing the terms of the loan. Take your time to review this carefully before accepting.
The loan will then be disbursed to you — usually in about a week, depending on the lender. Online lenders typically offer the fastest funding speeds, with some providing same- or next-day funding after approval.
Alternatives to easy personal loans
If an unsecured personal loan doesn’t seem right for you, here are some alternatives to consider:
Credit card
Unlike a personal loan that provides a one-time lump sum, a credit card gives you access to a revolving credit line that you can repeatedly draw on and pay off. While you’ll typically need good credit to qualify for a credit card, there are some cards available for bad credit — though they tend to come with lower credit limits and high interest rates. Additionally, rates on credit cards tend to be higher for credit cards than personal loans.
You could also consider a secured credit card. This type of card requires a cash deposit, which acts as collateral and will be the same amount as your credit limit. Because this is less risky for the lender, it can be easier to qualify for a secured credit card compared to an unsecured one. Plus, if you make consecutive, on-time payments for a certain period of time, you might be able to convert your secured card to an unsecured one and get your deposit back.
Secured personal loan
If you’re struggling to qualify for an unsecured personal loan, a secured loan could be an option. With a secured loan, you’ll have to provide collateral — such as your car or other property — to act as security for the loan. This reduces the risk for the lender, which can make secured loans easier to qualify for. This also tends to result in larger loan amounts and lower interest rates.
However, if you can’t keep up with your payments, you risk losing the collateral tied to the loan.
Borrow from friends or family
Another option is asking your friends or family for a loan. However, you’ll need to carefully manage repayment — otherwise, you could end up straining your relationships.
If you go this route, be sure to have a written agreement in place and follow through on your end of the deal.
Be careful with no-credit-check loans. While it can be easy to get a payday loan, pawn shop loan or car title loan, these sorts of loans tend to come with extremely high APRs and fees. This can make them extremely difficult to repay and can lead to a cycle of high-interest debt that’s hard to get out of. In most cases, you’re better off applying for a traditional personal loan with less stringent eligibility requirements instead.
Frequently asked questions (FAQs)
In general, the easiest loans to get approved for are ones that — unlike traditional personal loans — don’t require a credit check. For example, payday loans, pawn shop loans and car title loans typically have much less stringent credit requirements (if any). However, these types of loans are often predatory in nature and can come with astronomically high interest rates and fees — possibly as high as 500% to 600% APR. Ultimately, these sorts of loans should only be used as a last resort.
It’s generally a much better idea to apply for a traditional personal loan instead. While some personal loan lenders have strict qualification requirements, there are several others that have more lenient eligibility criteria when it comes to credit and income. You can also expect these types of loans to come with reasonable interest rates and fees.
You’ll typically need good to excellent credit to be approved for a personal loan. A good credit score is usually considered to be 670 or higher. However, there are also lenders that offer personal loans for lower credit scores, though these loans tend to come with higher interest rates compared to good credit loans.
In general, the higher your credit score, the better your rate will be. But keep in mind that other factors can also affect your eligibility for a loan, such as income, job stability and debt-to-income (DTI) ratio.
Payday loans can often be some of the fastest loans to get, often offering immediate cash if you’re approved. But remember that these loans come with major risks and should be avoided in most cases.
There are also many personal loan lenders that offer fast funding on their loans. For example, Rocket Loans provides same-day funding to approved borrowers while LendingPoint and Avant can fund loans as soon as the next day after approval.
Yes, you might be able to get an instant personal loan with bad credit. However, you’ll need to carefully consider the type of loan you apply for. While you can likely get a payday, pawn shop or car title loan almost instantly, they come with major risks.
There are also several lenders that offer fast approval decisions — often within minutes — as well as same- or next-day funding after approval for emergency personal loans. While you typically need good credit to qualify for a personal loan, some of these lenders work with borrowers who have poor or fair credit. For example, Upgrade accepts credit scores as low as 580 and will fund loans within a day of clearing necessary verifications.
Just keep in mind that bad credit loans tend to come with higher interest rates compared to good credit loans.
