Advertiser Disclosure

Personal Loans

Can I Get a Personal Loan With No Income? Yes, Here’s How

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

personal loan
iStock

According to the Bureau of Labor Statistics, America’s unemployment rate was 3.7% in September 2018. Although this number may seem relatively small in the grand scheme of things, this hasn’t historically been the case. During the market crash of 2008-2009, America’s unemployment rate swung from 4.7% to 10.1% in a matter of months.Long-term unemployment can be emotionally and financially challenging. Although most people actively work to avoid getting into debt, especially while they’re unemployed, sometimes their financial situation leaves them with no other course of action but to take out a personal loan.

Unfortunately, many lenders require that borrowers have some proof of income before they’re willing to pass out personal loans. However, in some cases, you may be able to secure a loan – even without the proof. Let’s walk through the steps you’ll need to take to get a loan when you’re unemployed.

Can I get a personal loan with no income?

Yes, you can get a personal loan without income. At the end of the day, lenders are looking for borrowers who can prove that they’ll make repayments. It’s true that having a consistent source of income certainly helps prove that you’re eligible for a loan, but it’s also true that you can “prove” your worthiness as a borrower in other ways.

If you don’t have a full-time job that’s providing you with a consistent income that would be used to repay your personal loan, you’ll need to meet the lender’s alternative eligibility requirements.

These might include:

  • Proof of alternate income. Any of the following may qualify when you apply for a loan: Social Security benefits, a pension, child support, funds from your retirement account distributions, unemployment benefits, disability, employment offers for a job that starts in the future, housing income, capital gains from your investments, income from a spouse or partner, trust income, savings or cash that you’ve built up, VA benefits or a government annuity.
  • Automatic payments. Your lender might require that you have payments automatically deducted from your bank account to help ensure that you’re always paying in full and on time.
  • Security. If you’re struggling to get a loan while unemployed, your lender might ask for you to provide collateral for the loan. This would mean taking out a secured personal loan. Lenders often accept cars (as long as they’re paid in full), property or any other assets that you own outright as security.
  • Find a cosigner. To get a personal loan while you’re unemployed, you may need to find a cosigner. A cosigner is essentially a third party who applies with you for your loan. If you fail to make your payments, the lender may turn to them for the money they’re owed. A cosigner isn’t always a perfect solution, and asking family or close friends to cosign a loan could potentially cause some tension if you can’t repay it. However, if you’re confident that you have the funds set aside to repay your loan, or that you’ll find employment soon, this may be an option worth considering.

Remember that lenders don’t just look at your current income during the loan approval process. They’re also looking at your credit history and your credit score. If you’ve always been consistent with repaying your debts in the past, you have a good (or better) credit score and you’re not utilizing very much credit in comparison with your current income, you may be able to secure a personal loan with fewer issues – even if you’re unemployed.

LendingTree
APR

As low as 3.99%

Credit Req.

Minimum 500 FICO®

Terms

24 to 60

months

Origination Fee

Varies

SEE OFFERS Secured

on LendingTree’s secure website

LendingTree is our parent company

Advertiser Disclosure

LendingTree is our parent company. LendingTree is unique in that you may be able to compare up to five personal loan offers within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score. LendingTree is not a lender.


A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details.

As of 17-May-19, LendingTree Personal Loan consumers were seeing match rates as low as 3.99% (3.99% APR) on a $10,000 loan amount for a term of three (3) years. Rates and APRs were based on a self-identified credit score of 700 or higher, zero down payment, origination fees of $0 to $100 (depending on loan amount and term selected).

Beware these risks of borrowing with no income

Although it’s possible to receive a personal loan when you’re unemployed, that doesn’t always mean it’s in your best interest to do so. Lenders are taking a risk by lending you money that you technically don’t have (and may not have for the foreseeable future). As a result, they’re likely to give you a less attractive loan offer.

Here are a few downsides to loan offers you may see while you’re unemployed and taking out a loan:

  • Shorter repayment terms. Typically, if you don’t have income to prove your ability to repay a loan over a long period of time, your lender will want to lower their risk. One way they do this is by offering loans to the unemployed with shorter repayment terms. This means you’ll get the funds you need, but you’ll be required to pay them back much faster than had taken out a traditional loan while you were gainfully employed.
  • High interest rates. Again, lenders aren’t out to get you if you’re unemployed – they just need to protect themselves against the risk of lending to someone who may not be able to repay the loan they’re offering. One way they do this is by offering you a personal loan with higher interest rates. High rates combined with a shorter term means that you’ll be paying a significant amount of money back to your lender over a short period of time. This ensures that they’ll get the amount they gave back from you (with interest), and they’ll receive it quickly.
  • Automatic payments. Many lenders require that automatic payments be set up when a borrower is unemployed. This could mean that they take funds directly from your bank account every month for payment, but it could also mean that they take funds directly from your other income sources (like your pension) each “pay period” to ensure that they get paid first. If you have the funds to repay your loan and cover your bills, this may not be an issue. But as things get tighter the longer you stay unemployed, this becomes a bigger issue.
  • Hefty fees. Although many lenders already have notable fees attached their personal loan offerings, it’s even more important to look at the fees in your loan offer if you’re unemployed. Fees are another way that a lender can protect themselves against the risk of lending to someone without an income. If you’re not careful, you could end up paying back a high interest loan over a short time period, with extra fees to boot – hardly an ideal situation for someone who’s lacking cash flow.
  • Predatory lending. As much as you may not want to believe it’s true, there are plenty of lenders out there who take advantage of the unemployed. By offering personal loans with egregious repayment terms, interest rates and fees, they could potentially drive you so deeply into debt that you’re unable to pay your monthly bills. Thinking long term, these types of predatory loans could also have a dramatically negative impact on your credit score.

Getting a loan when you’re unemployed isn’t always easy, but it doesn’t have to be a terrifying journey either. As long as you keep a watchful eye out for these non-ideal repayment terms and know what you’re getting into, you’re off to a good start.

Alternative options to a personal loan

Although it’s possible to qualify for a personal loan with no income, that doesn’t mean it’s a given. Many borrowers may run into a situation where they don’t qualify for a personal loan while they’re unemployed, which can be incredibly challenging if their situation is dire and they need cash now.

There are several reasons you may not qualify for a personal loan while you’re unemployed:

  • You have no source of alternate income to show the ability to repay
  • You have no assets (like a well-padded savings account, or a paid-in-full vehicle) to offer as collateral for the loan
  • You have poor credit history
  • You have a low credit score
  • You’re already utilizing a large portion of the total credit you have available to you

Although it’s impossible to guarantee whether you’ll get approved or denied a personal loan while you’re unemployed, these factors will play a large role in the lender’s final decision. If you aren’t approved for a personal loan, you’re not entirely out of options. First, you can look into alternative lending services that can help give you the boost of cash you need rather quickly:

  • Home equity line of credit (HELOC). A HELOC allows you to essentially borrow against the equity you have built up in your home. If you’ve already paid down a significant chunk of your mortgage, this might be an option for you to look into. Typically, you can borrow up to 85% of your home’s value minus what you owe on your mortgage.
  • Secured loan. A secured loan is one where you offer up collateral for loan funds. You may put up your car or other property for this type of loan.
  • Short-term loan from a family member. Borrowing money from family can be uncomfortable and potentially damaging to both your personal and financial life. However, if you’re confident in your ability to repay the loan, and your relative is willing to offer you favorable terms, this may be a path you pursue. You’ll need to discuss the total amount of the loan, what interest rate they’ll charge you (if any) and what the length of the loan’s repayment term will be. It’s wise to draw up a formal contract to protect both of your interests.

Conclusion

You have several options for borrowing funds, even when you don’t have an income to rely on for repayment. However, there are several other options to consider before you seek out a personal loan or alternate lending option.

Consider these other ways to get cash in a pinch:

Going into debt should never be your first course of action. Although you can get a loan without an income, pursuing these other ideas first until you’re able to secure another full-time, well-paying job is usually in your best interest.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Dave Grant
Dave Grant |

Dave Grant is a writer at MagnifyMoney. You can email Dave at [email protected]

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

LoanMart Car Title Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

LoanMart
APR

30.00%
To
199.00%

Credit Req.

Not specified

Terms

Up to 60

months

Origination Fee

Varies by state

LEARN MORE Secured

on LoanMart’s secure website

LoanMart auto title loan details

Terms

Fees and penalties

  • Term lengths: Up to 60 months
  • APR range: 30.00% - 199.00%
  • Loan amounts: $2,600 - $50,000
  • Time to funding: As soon as 24 hours after submitting required documentation
  • Credit check: Poor-credit applicants will be considered
  • Origination fee: Varies by state
  • Prepayment fee: None
  • Late payment fee: Varies by state
  • Other fees: DMV charges possible in some states

LoanMart product details

LoanMart offers auto title loans at a lower interest rate than most of its competitors, but they are still an expensive form of credit. To secure your loan, you will have to sign over the title of your vehicle as collateral. It’s easiest to do this if your car is paid off, but you may still qualify if you have a few payments left depending on your vehicle’s equity.

The APR you are charged will include any origination fees, as well as possible Department of Motor Vehicle fees, though these do not appear to be excessive. If the title is in your name and you’re looking to get a loan, LoanMart will contact the DMV on your behalf.

One of the most noteworthy things about LoanMart’s auto title loans is its terms. While many auto title loans require you to pay back your loan within a month, LoanMart gives you up to five years. Its term lengths are more in line with what you would find with an unsecured personal loan. And your car can be repossessed with an auto title loan, which makes unsecured personal loans preferable. Not everyone will qualify, though.

Eligibility requirements

  • Minimum credit score: Not specified, though LoanMart says almost anyone can qualify for its car title loan
  • Minimum credit history: You can still qualify if you have poor credit or a bankruptcy on your record, but it will most likely to impact your APR
  • Maximum debt-to-income ratio: Not specified

The primary thing you’ll need when applying for a car title loan from LoanMart is a vehicle. While your credit history will be evaluated, a bad credit history won’t necessarily disqualify you like it does with other lenders.

You must also be a resident in one of the states in which LoanMart issues auto title loans:

  • Alabama
  • Arizona
  • California
  • Missouri
  • New Mexico
  • South Carolina
  • Utah

Applying for an auto title loan from LoanMart

  • Fill out an application: You can apply online, via phone (855-422-7412) or at a LoanMart location.
  • Receive a quote: Within an hour of submitting your application, you should receive a quote — if you’ve been approved — with the amount you are able to borrow.
  • Submit documentation: If you move forward, you will need to submit documentation to support your application. This includes a government-issued ID, your car title, proof of income and proof of residence.
  • Sign and cash: After you submit your documentation, you will sign the final paperwork. You can then choose to receive your money electronically, via paper check or in person at a LoanMart location. You may also be able to pick up your funds through MoneyGram at select Walmart locations.
Pros and cons of a LoanMart auto title loan

Pros:

Cons:

  • Longer loan terms: LoanMart loans can be repaid over up to 60 months. Many car title loans are extremely short, ending within 15 to 30 days.
  • Lower APR: LoanMart’s APR offerings can be notably lower than other auto title lenders.
  • Quick turnaround: LoanMart will provide funding in as few as 24 hours if you submit the necessary documents and signatures by 2 p.m. Pacific time on a business day.
  • Credit reporting: LoanMart reports your payments to two of the three major credit bureaus: Experian and Equifax. This can help you rebuild a positive credit history.
  • Expensive form of borrowing:  Even the lowest APR available through LoanMart is higher than what you’re likely to be offered via an unsecured personal loan with another lender.
  • You could lose your car: If you can’t repay your loan, you could lose your vehicle.
  • Limited availability: LoanMart only issues title loans to residents in 7 states.
  • Amount you can borrow depends on your car: Newer cars with a clean title will yield a higher offer from LoanMart than a vehicle of an earlier model year with a rusted-out bottom. That’s good news if you have a newer vehicle, but potentially disappointing for everyone who does not.

Who’s the best fit for a LoanMart auto title loan?

If you have no other options and are determined to take out an auto title loan, LoanMart is one of your better options:

  • APRs are clearly advertised
  • APRs for qualified applicants can be lower than the competition depending on the state in which you live
  • Your credit history plays less of a role; if it’s poor, though, you’re likely to end up at the higher end of the APR range

Auto title loans are an expensive form of borrowing. While LoanMart can be preferable to other lenders in its space, that doesn’t change the fact that you should explore all other options before putting up the title of your car as collateral for fast cash.

LoanMart consumer reviews

Borrowers have ranked LoanMart a 4.3 out of 5 (53 reviews) on LendingTree, which owns MagnifyMoney. That ranking does include customers that have used its other products, such as personal loans or auto refinance.

Borrowers praised the ease of the application process with LoanMart, and the assistance provided by loan officers. Dan from Tucson, Ariz., wrote: “They were all very nice and the process moved very quickly. I had my loan in less than 24 hours. I would use them, again.”

Negative reviews cite not being approved after submitting documentation or rising APRs after documentation was reviewed. If you are applying for an auto title loan from LoanMart, be aware that your quote is not set in stone until after your loan officer has reviewed your documentation.

LoanMart FAQ

Yes. You don’t need to have to have a job to qualify for an auto title loan from LoanMart, but you need income. This income can potentially come from retirement, disability or Social Security benefits. You can also qualify with a cosigner.

If there is an “or” between the names on the title, you can apply like normal. If there is an “and” between your names, both of the owners will need to be on your LoanMart application. If your title reads “and/or,” you will need to contact LoanMart to guide you through the process.

You don’t need a bank account unless you are trying to prove self-employment income or you would like your funding deposited directly into your account.

Typically, your first payment is due 30 days after your funds are disbursed.

You can pay via the mobile app, online, with Automated Clearing House (ACH) auto payments, paper check via mail, over the phone or in person at a LoanMart location.

Worst-case scenario, your car is repossessed. But if you can’t make an on-time payment, LoanMart encourages you to contact them right away to work out an alternative.

Besides auto title loans, LoanMart offers high-interest, unsecured personal loans. LoanMart personal loans do not offer competitive terms.

You can spend this money on whatever you’d like. However, with the lowest possible APR at 30.00%, the bill or circumstance has to be dramatically dire to justify the costs of financing.

One may be requested if you take out a loan for $10,000 or more.

LoanMart subtracts the remaining balance on your traditional auto loan from the current market value of your vehicle if you still owe car payments.

Alternative loan options

LendingPoint

APR

9.99%
To
35.99%

Credit Req.

585

Minimum Credit Score

Terms

24 to 48

months

Origination Fee

0.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingPoint is an online lender that targets borrowers with fair credit, and allows borrowing up to $25,000.... Read More

LendingPoint offers personal loans rather than title loans. These loans hands-down beat LoanMart loans, whether you’re considering a LoanMart personal loan or title loan.

LendingPoint’s APR offerings are substantially lower, and you can borrow a larger amount of money when compared to LoanMart’s unsecured personal loans — up to $25,000.

However, you do need to have a credit score of at least 585 to qualify for a loan from LendingPoint, where LoanMart’s credit requirements are more flexible (at a cost).

Upstart

APR

6.46%
To
35.99%

Credit Req.

620

Minimum Credit Score

Terms

36 & 60

months

Origination Fee

Up to 8.00%

SEE OFFERS Secured

on LendingTree’s secure website

Upstart is an online lender created by ex-Googlers.... Read More

Upstart connects borrowers with partner lenders for unsecured personal loans.

Again, unsecured loans are usually preferable to title loans, and Upstart’s rates are superior to LoanMart’s. It also allows you to borrow outside of the range offered by LoanMart. With Upstart, you can potentially borrow as little as $1,000 and as much as $50,000.

Upstart’s credit standards may be higher than LoanMart’s, but it does strive for some flexibility. Besides your credit score, Upstart looks at your:

  • Education
  • Area of study
  • Career history

LendingClub

APR

6.95%
To
35.89%

Credit Req.

600

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More

LendingClub’s most comparable product to LoanMart’s auto title loans is its unsecured personal loans, which come with lower rates but higher credit standards.

LoanMart can get you your money in one day, while LendingClub will take at least four. LoanMart can also loan you up to $10,000 more than LendingClub. Regardless, there will be very few circumstances where it wouldn’t be worth applying with LendingClub for its competitive APRs.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brynne Conroy
Brynne Conroy |

Brynne Conroy is a writer at MagnifyMoney. You can email Brynne here

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score

Advertiser Disclosure

Personal Loans

Where to Get the Best Personal Loan Rates Online

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

Where to Get the Best Personal Loan Rates Online

Updated January 01, 2020

If you want a to pay off a credit card or consolidate debt, a personal loan is going to be one of your best options. A personal loan with a set payoff period a few years from now has some of these advantages:

  • One monthly payment
  • A set rate
  • You don’t need absolutely perfect credit
  • You can check your rate without touching your score

There are more attractive deals than ever thanks to some new online lenders and you can see sample rates below for excellent credit and good credit.

Company
APR
Terms
Credit Req.
LendingTree

As low as 3.99%

24 to 60

months

Minimum 500 FICO®

SEE OFFERS Secured

on LendingTree’s secure website

LendingTree is our parent company

Advertiser Disclosure.

Disclaimer

A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details.

As of 17-May-19, LendingTree Personal Loan consumers were seeing match rates as low as 3.99% (3.99% APR) on a $10,000 loan amount for a term of three (3) years. Rates and APRs were based on a self-identified credit score of 700 or higher, zero down payment, origination fees of $0 to $100 (depending on loan amount and term selected).

4.99% - 16.79%*

with AutoPay

24 to 144*

months

Not specified

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

*Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.
SoFi

5.99% - 20.01%

24 to 84

months

680

Minimum Credit Score

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

Fixed rates from 5.99% APR to 20.01% APR (with AutoPay). Variable rates from 6.49% APR to 14.70% APR (with AutoPay). SoFi rate ranges are current as of November 15, 2019 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.49% APR assumes current 1-month LIBOR rate of 1.81% plus 4.93% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

All rates, terms, and figures are subject to change by the lender without notice. For the most up-to-date information, visit the lender's website directly. To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.

See Consumer Licenses.

SoFi Personal Loans are not available to residents of MS. Minimum loan requirements might be higher than $5,000 in specific states due to legal requirements. Fixed and variable-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan.

If you lose your job through no fault of your own, you may apply for Unemployment Protection. SoFi will suspend your monthly SoFi loan payments and provide job placement assistance during your forbearance period. Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law. Benefits are offered in three month increments, and capped at 12 months, in aggregate, over the life of the loan. To be eligible for this assistance you must provide proof that you have applied for and are eligible for unemployment compensation, and you must actively work with our Career Advisory Group to look for new employment. If the loan is co-signed the unemployment protection applies where both the borrower and cosigner lose their job and meet conditions.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)
Marcus by Goldman Sachs®

6.99% - 28.99%

36 to 72

months

Not specified

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans).Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. For New York residents, rates range from 6.99% to 24.99% APR.

5.99% - 29.99%

36 or 60

months

640

Minimum Credit Score

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99% - 5.99% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%. The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding, LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail. The minimum individual annual income needed to qualify for a loan of $50,000 is $130,000. Borrowers may hold no more than two open Best Egg loans at any given time. In order to be eligible for a second Best Egg loan, your existing Best Egg loan must have been open for at least four months. Total existing Best Egg loan balances must not exceed $50,000. All loans in MA must exceed $6,000; in NM, OH must exceed $5,000; in GA must exceed $3,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

6.95% - 35.89%

36 or 60

months

600

Minimum Credit Score

SEE OFFERS Secured

on LendingTree’s secure website

9.95% - 35.99%*

24 to 60**

months

600

Minimum Credit Score

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
**Example: A $5,900 loan with an administration fee of 4.75% and an amount financed of $5,619.75, repayable in 36 monthly installments, with an APR of 29.95% would have monthly payments of $250.30.

Based on the responses from 11,574 customers in a survey of 210,584 newly funded customers, conducted from 1 Feb 2018 - 1 Aug 2019 95.05% of customers stated that they were either extremely satisfied or satisfied with Avant. 4/5 Customers would recommend us. Avant branded credit products are issued by WebBank, member FDIC.

18.00% - 35.99%

24 to 60

months

Not specified

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure.

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
PenFed Credit Union

Starting at 6.49%

36 to 60

months

700

Minimum Credit Score

SEE DETAILS Secured

on PenFed Credit Union’s secure website

6.46% - 35.99%

36 & 60

months

620

Minimum Credit Score

SEE OFFERS Secured

on LendingTree’s secure website

Best personal loans for excellent credit: SoFi, Marcus by Goldman Sachs®, Best Egg, LightStream

Best personal loans for good credit: LendingClub, Best Egg, Upstart, PenFed Credit Union

Best personal loans for bad or minimal credit: Avant, OneMain Financial

Tip: Apply for several loans to check rates. Every lender has different approval criteria and different pricing models – and the difference in rate between lenders (even for people with excellent credit) can be significant. So long as you shop with lenders that use a soft credit pull, you can check your rate without negatively impacting your credit score.

Start Here – Multiple Lenders at Once

LendingTree

LendingTree
APR

As low as 3.99%

Credit Req.

Minimum 500 FICO®

Terms

24 to 60

months

Origination Fee

Varies

SEE OFFERS Secured

on LendingTree’s secure website

LendingTree is our parent company

Advertiser Disclosure

LendingTree is our parent company. LendingTree is unique in that you may be able to compare up to five personal loan offers within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score. LendingTree is not a lender.


A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details.

As of 17-May-19, LendingTree Personal Loan consumers were seeing match rates as low as 3.99% (3.99% APR) on a $10,000 loan amount for a term of three (3) years. Rates and APRs were based on a self-identified credit score of 700 or higher, zero down payment, origination fees of $0 to $100 (depending on loan amount and term selected).

Dozens of lenders participate in LendingTree‘s personal loan shopping tool – including all of the lenders listed on this page. With one online form, LendingTree will perform a soft pull (with no impact to your score) and match you with multiple loan offers from up to five different lenders based on your creditworthiness. This is our favorite (because it is easy) way to get multiple offers from lenders in minutes and consolidate debt. For people with excellent credit, you could get an APR below 6%. For people with less than perfect credit, there are many lenders participating with more liberal acceptance criteria.

Why is this a good way to save?

Banks don’t care much for personal loans because the lower rates earn them less profit than credit cards.

Fortunately, some new companies believe you should be able to get a competitive rate without dealing with credit card intro offers, even if your credit isn’t perfect.

They’re doing it by lending online only without the overhead of branches.

They pass the savings on to you through better rates, and you can check up on them below.

Best Personal loans for Excellent Credit

The following providers are for you if you want the absolute lowest possible rates that reward a record of no late payments and good income, even though you have some high rate debt that you want to consolidate.

Unless you get a rate of 5% or less, you’re probably better off with balance transfer deals, but the convenience of a fixed payment and walking away from credit cards makes personal loans appealing.

SoFi

SoFi
APR

5.99%
To
20.01%

Credit Req.

680

Minimum Credit Score

Terms

24 to 84

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

SoFi offers some of the best rates and terms on the market. ... Read More


Fixed rates from 5.99% APR to 20.01% APR (with AutoPay). Variable rates from 6.49% APR to 14.70% APR (with AutoPay). SoFi rate ranges are current as of November 15, 2019 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 6.49% APR assumes current 1-month LIBOR rate of 1.81% plus 4.93% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

All rates, terms, and figures are subject to change by the lender without notice. For the most up-to-date information, visit the lender's website directly. To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.

See Consumer Licenses.

SoFi Personal Loans are not available to residents of MS. Minimum loan requirements might be higher than $5,000 in specific states due to legal requirements. Fixed and variable-rate caps may be lower in some states due to legal requirements and may impact your eligibility to qualify for a SoFi loan.

If you lose your job through no fault of your own, you may apply for Unemployment Protection. SoFi will suspend your monthly SoFi loan payments and provide job placement assistance during your forbearance period. Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law. Benefits are offered in three month increments, and capped at 12 months, in aggregate, over the life of the loan. To be eligible for this assistance you must provide proof that you have applied for and are eligible for unemployment compensation, and you must actively work with our Career Advisory Group to look for new employment. If the loan is co-signed the unemployment protection applies where both the borrower and cosigner lose their job and meet conditions.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

SoFi’s believes if you’ve graduated college or went to grad school you’ll be a more responsible borrower, so they may be more likely to give you a better rate, even if your credit history is limited.

For example, if you have $10,000 in credit card debt, good income, and great credit, their best rate could save you as much as 0% balance transfer deals once you factor in the fees for each.

What we like best about SoFi is that they offer no origination fee and no prepayment penalty. If you think you may be able to pay off your loan earlier (or want the flexibility to do that), Sofi is the only lender we reviewed that charges no fee at all. Given their very low rates, we think anyone with good credit should start with Sofi first, and then compare their offer to the rest of the providers.

Amount: $5,000 – $100,000

Marcus by Goldman Sachs®

Marcus by Goldman Sachs®
APR

6.99%
To
28.99%

Credit Req.

Not specified

Terms

36 to 72

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Marcus by Goldman Sachs® offers personal loans for up to $40,000 for debt consolidation and credit consolidation. ... Read More


Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans).Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. For New York residents, rates range from 6.99% to 24.99% APR.

If you want to work with a traditional bank, Marcus by Goldman Sachs® can be a great option. With rates as low as 6.99% APR and flexible terms ranging between 36 to 72 months, they offer a competitive personal loan option that is backed by the security and peace of mind that comes with using a bank that has been in business for 148 years.

While Marcus does not state a required minimum credit score, they do seek out people with prime credit, which usually falls above 660 or higher on the FICO scale. Those that meet the requirements will be able to borrow up to $40,000 for debt consolidation and credit consolidation loans.

BestEgg

APR

5.99%
To
29.99%

Credit Req.

640

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

0.99% - 5.99%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

People looking for a process that is fast and straightforward can’t go wrong when applying through Best Egg for a personal loan. ... Read More


The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99% - 5.99% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%. The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding, LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail. The minimum individual annual income needed to qualify for a loan of $50,000 is $130,000. Borrowers may hold no more than two open Best Egg loans at any given time. In order to be eligible for a second Best Egg loan, your existing Best Egg loan must have been open for at least four months. Total existing Best Egg loan balances must not exceed $50,000. All loans in MA must exceed $6,000; in NM, OH must exceed $5,000; in GA must exceed $3,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

BestEgg is an online personal loan company that offers low interest rates and quick funding. Best Egg is one of the fastest growing personal loan companies in the country, largely because it has been able to provide one of the best combinations of interest rate and loan amount in the market.

You can check to see your interest rate without hurting your score, and they do approve people with scores as low as 640. If you have an excellent credit score, BestEgg will be very competitive on terms.

Amount: up to $35,000

Lightstream

APR

4.99%
To
16.79%*

with AutoPay

Credit Req.

Not specified

Terms

24 to 144*

months

Origination Fee

No origination fee

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

LightStream is the online lending division of SunTrust Bank.... Read More


*Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay discount, which is only available when you select AutoPay prior to loan funding. Rates without AutoPay may be higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.

Lightstream is a great choice for people with excellent credit. It is actually part of a bank you might have heard of, SunTrust Bank. They were recently set up to offer some of the best personal loan rates available, and they are delivering. The interest rate you are charged depends upon the purpose of the loan.Interest rates can be as low as 4.99% for a new car purchase (and LightStream does not put their name on your title. They just put the cash in your bank account, and you can shop around and pay cash for the car). Home improvement loans start at 4.99% APR with AutoPay , making them cheaper and easier than a home equity loan.

They’ll also approve and deposit your money fast, often the same day, and give extra consideration if you have money in your 401K or equity in your home.

Amount: $5,000 – $100,000

Available states: All

Best Personal Loans for Good Credit

These providers may be able to help you out if you’re not approved for the very best rates or a 0% balance transfer offer.

LendingClub

APR

6.95%
To
35.89%

Credit Req.

600

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

1.00% - 6.00%

SEE OFFERS Secured

on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates.... Read More

You might not have heard of LendingClub yet, but they are a big player in online loans. And they offer a wide range of rates and terms based on your credit profile and needs. LendingClub’s minimum credit requirements are .

Amount: up to $40,000

Available states: All except Iowa and West Virginia

BestEgg

APR

5.99%
To
29.99%

Credit Req.

640

Minimum Credit Score

Terms

36 or 60

months

Origination Fee

0.99% - 5.99%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

People looking for a process that is fast and straightforward can’t go wrong when applying through Best Egg for a personal loan. ... Read More


The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and ranges from 5.99% to 29.99%, which may include an origination fee from 0.99% - 5.99% that is deducted from loan proceeds. Any origination fee on a loan term 4-years or longer will be at least 4.99%. The loan term and the APR offered will depend on your credit score, income, debt payment obligations, loan amount, credit usage history and other factors. Additionally, the APR offered is impacted by your loan term and may be higher than our lowest advertised rate. Requests for the highest loan amount may result in an APR higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest rate.

Best Egg loans are unsecured personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. Equal Housing Lender. "Best Egg" is a trademark of Marlette Funding, LLC. All uses of "Best Egg" on this site mean and shall refer to "the Best Egg personal loan" and/or "Best Egg on behalf of Cross River Bank, as originator of the Best Egg personal loan," as applicable. Loan amounts generally range from $2,000-$35,000. Offers up to $50,000 may be available for qualified customers who receive offer codes in the mail. The minimum individual annual income needed to qualify for a loan of $50,000 is $130,000. Borrowers may hold no more than two open Best Egg loans at any given time. In order to be eligible for a second Best Egg loan, your existing Best Egg loan must have been open for at least four months. Total existing Best Egg loan balances must not exceed $50,000. All loans in MA must exceed $6,000; in NM, OH must exceed $5,000; in GA must exceed $3,000. Borrowers should refer to their loan agreement for specific terms and conditions. Your verifiable income must support your ability to repay your loan. Upon loan funding, the timing of available funds may vary depending upon your bank's policies.

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

BestEgg (reviewed earlier in this post) will approve people with credit scores as low as 640. If you have good credit and are looking for a loan, you should consider BestEgg.

Upstart

APR

6.46%
To
35.99%

Credit Req.

620

Minimum Credit Score

Terms

36 & 60

months

Origination Fee

Up to 8.00%

SEE OFFERS Secured

on LendingTree’s secure website

Upstart is an online lender created by ex-Googlers.... Read More

Upstart offers loans that look a lot like the ones from the bigger online lenders like LendingClub or Prosper.

They’ll let you borrow up to $50,000 for 36 & 60 months. But the key is they will take into account the schools you attended, your area of study, the grades you earned in school, and your work history to see if you can get a better rate.

So while the range of rates Upstart offers is similar to the bigger guys, if you did well in school, you might find the rate you actually get is lower than what the others will offer you, so it’s worth trying.

You’ll need a 620 or better FICO and your monthly payments can’t be more than 55% of your monthly income.

Amount: $1,000 – $50,000

Available states: All

PenFed

PenFed Credit Union
APR

Starting at 6.49%

Credit Req.

700

Minimum Credit Score

Terms

36 to 60

months

Origination Fee

No origination fee

APPLY NOW Secured

on PenFed Credit Union’s secure website

Pentagon Federal Credit Union (PenFed) offers personal loans with terms up to five years and maximum loan amounts of $25,000.... Read More

Previously, PenFed offers a fixed rate starting at 6.49% interest rate for 36 to 60 months. Veterans get extra special attention so it’s worth checking this online only offer. You have to be a member of the PenFed credit union, but that’s easy and anyone can do that online as part of the process.

Available states: All

Best Personal Loans for Bad or No Credit

Avant

APR

9.95%
To
35.99%*

Credit Req.

600

Minimum Credit Score

Terms

24 to 60**

months

Origination Fee

Up to 4.75%**

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

Avant is an online lender that offers personal loans ranging from $2,000 to $35,000. ... Read More


*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state.
**Example: A $5,900 loan with an administration fee of 4.75% and an amount financed of $5,619.75, repayable in 36 monthly installments, with an APR of 29.95% would have monthly payments of $250.30.

Based on the responses from 11,574 customers in a survey of 210,584 newly funded customers, conducted from 1 Feb 2018 - 1 Aug 2019 95.05% of customers stated that they were either extremely satisfied or satisfied with Avant. 4/5 Customers would recommend us. Avant branded credit products are issued by WebBank, member FDIC.

Avant‘s platform offers access to loans from $2,000 to $35,000, with terms from 24 to 60 months. The minimum credit score varies, but we have seen people with scores as low as 580 get approved.

The good thing about Avant is that these loans are amortizing. That means it is a real installment loan, and you will be reducing your principal balance with every payment.

Amount: up to $35,000

Available states: All except: Colorado, Iowa, West Virginia, and Vermont.

For Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.

Avant branded credit products are issued by WebBank, member FDIC.

OneMain Financial

APR

18.00%
To
35.99%

Credit Req.

Not specified

Terms

24 to 60

months

Origination Fee

1.00% - 10.00%

SEE OFFERS Secured

on LendingTree’s secure website

Advertiser Disclosure

OneMain Financial offers quick turnaround times and you may get your money the same day... Read More


Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

OneMain Financial offers personal loans through its branch network to people with less than perfect credit. You can start your application online. If you qualify, you will have to visit a branch to complete the application. Once in the branch, if you have all of the required documents, you can receive you loan proceeds immediately via check.

You can borrow from $1,500 to $20,000. The interest rates are not low, and can go up to 35.99%. They will also charge an up-front origination fee that is not refundable. You should definitely shop around at other lenders first, given the high cost of the loan and the need to visit a branch.

Amount: Up to $20,000

promo-personalloan-wide

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brian Karimzad
Brian Karimzad |

Brian Karimzad is a writer at MagnifyMoney. You can email Brian at [email protected]

Get Personal Loan Offers
Up to $50,000

$

Won’t impact your credit score