5 personal loan lenders that accept applicants with credit scores below 670 (2024)

If your credit score is less than ideal, you may feel like you face additional challenges when it comes to accessing good financial products, like the best credit cards or the best personal loans. However, there are a few lenders that actually cater to applicants with lower credit scores in the poor/fair range (669 and below for the FICO® Scoremodel, and 660 and below for the VantageScore® model) to help them borrow money for emergency expenses, a medical bill, debt consolidation and other financing needs.

Below, CNBC Select rounded up five of the best personal loan lenders that still accept applicants who have credit scores below 670. We looked at fees, interest rates and flexible repayment options for different credit scores. (You can read more about ourmethodologybelow.)

In the meantime, remember that if you are applying for loans — or any line of credit — with a lower credit score, you are likely to receive higher interest rates because lenders will see you as more of a "riskier" borrower. It's important to compare rates with different lenders and do your homework before signing on the dotted line to make sure you're comfortable with your new loan terms.

Best personal loan lenders for a credit score below 670

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Best for people without credit history

Upstart Personal Loans

  • Annual Percentage Rate (APR)

    7.8% - 35.99%

  • Loan purpose

    Debt consolidation, credit card refinancing, wedding, moving or medical

  • Loan amounts

    $1,000 to $50,000

  • Terms

    36 and 60 months

  • Credit needed

    Credit score of 300 on at least one credit report (but will accept applicants whose credit history is so insufficient they don't have a credit score)

  • Origination fee

    0% to 12% of the target amount

  • Early payoff penalty


  • Late fee

    The greater of 5% of last amountdue or $15, whichever is greater

Terms apply.


  • Open to borrowers with fair credit (minimum 300 score)
  • Will accept applicants who have insufficient credit history and don't have a credit score
  • No early payoff fees
  • 99% of personal loan funds are sent the next business day after completing required paperwork before 5 p.m. Monday through Friday


  • High late fees
  • Origination fee of 0% to 10% of the target amount (automatically withheld from the loan before it's delivered to you)
  • $10 fee to request paper copies of loan agreement (no fee for eSigned virtual copies)
  • Must have a Social Security number

Who's this for? Sometimes, a potential borrower may have a low credit score because they have extremely limited credit activity. Other times, a lack of credit history may result in them having no credit score at all. Because of this,Upstartaccepts applicants with no credit history — though this lender also looks at applicants with a FICO score of 600 or higher. Just keep in mind that if you are approved for the loan with a lower (or no) credit score, you may be subject to a higher interest rate.

You can apply for loan amounts as low as $1,000 and as much as $50,000. And while there are no penalties for paying off your balance early, Upstart does charge an origination fee (up to 12% of the amount you borrow) and late fees ($15 or 5% of the past due balance, whichever is greater).

When it comes to repaying the balance, loan terms range from 36 to 60 months, which can be appealing to borrowers who think they may need a longer time horizon to repay the entire loan.

Best for borrowing smaller loan amounts

Upgrade Personal Loans

  • Annual Percentage Rate (APR)

    8.49% - 35.99%

  • Loan purpose

    Debt consolidation/refinancing, home improvement, major purchase

  • Loan amounts

    $1,000 to $50,000

  • Terms

    24 to 84* months

  • Credit needed

    Fair, good to excellent

  • Origination fee

    1.85% to 9.99%, deducted from loan proceeds

  • Early payoff penalty


  • Late fee

    Up to $10 (with 15-day grace period)

Terms apply.


  • No early payoff fees
  • Loans up to $50,000
  • Fixed interest rates (no surprises)
  • Can pay creditors directly (may take up to two weeks)
  • Fast funding in as little as four days


  • Origination fee of up to 8% (deducted from your loan)
  • Not available in Washington D.C.

Why Upgrade is the best for financial literacy:

  • Free credit score simulator to help you visualize how different scenarios and actions may impact your credit
  • Charts that track your trends and credit health over time, helping you understand how certain financial choices affect your credit score
  • Ability to sign up for free credit monitoring and weekly VantageScore updates

Who's this for?Upgrade typically looks at borrowers who havefair or good credit. With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780.

Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000). The $1,000 minimum makes the loan feel a little more digestible for those who don't need to borrow too much money. This is especially important because it's generally best to only apply for what you'll need since borrowing more will result in higher monthly payments.

Also keep in mind that Upgrade personal loans have an origination fee of up to 9.99%, which is deducted directly from your loan proceeds. So, if you know you'll need $1,000, you should account for the origination fee and apply for a loan amount closer to $1,080 to cover all your bases.

Upgrade doesn't have any prepayment penalties, but it does have a late fee: If you pay late or miss a payment, you could be hit with a $10 late fee if your payment is not received in full within 15 calendar days of the due date.

Otherwise, these loans are fast and easy to secure, and the funds should arrive in your checking account within one business day of submitting the required documents and being approved.

Best for flexible terms

OneMain Financial Personal Loans

  • Annual Percentage Rate (APR)

    18.00% to 35.99%

  • Loan purpose

    Debt consolidation, major expenses, emergency costs

  • Loan amounts

    $1,500 to $20,000

  • Terms

    24, 36, 48, 60 Months

  • Credit needed


  • Origination fee

    Origination fee starting at $25 to $500 or percentage ranging from 1% to 10% (depends on your state)

  • Early payoff penalty


  • Late fee

    Up to $30 per late payment or up to 15% (depends on your state)

Click hereto see if you prequalify for a personal loan offer. Terms apply.


  • Approves applicants with bad or fair credit
  • No early payoff fees
  • Reasonable loan minimums ($1,500) for smaller needs
  • Can pre-qualify with a soft credit check (no hard inquiry right away)
  • ACH funding within 1-2 business days (sometimes same day with proper paperwork)
  • Option to apply for secured loan (with collateral) for potentially lower rates
  • Borrowers can choose the date the bill is due each month
  • Applicants may apply with a co-applicant or, if married, may apply for a loan separately from spouse


  • High origination fee
  • High interest rates
  • No autopay APR discount
  • No co-signers

Information about OneMain Financial's secured loans:

While not required, applicants who don't qualify for an unsecured personal loan with OneMain Financial may be offered a secured loan. A secured loan lets borrowers who want to use the equity from their car potentially qualify for lower interest that way. Rates, repayment terms and agreements vary by individual and the state in which apply. Learn more by checking for offers on OneMain Financial's site.

OneMain Financial link provided by Even Financial.

Not all applicants will be approved. 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) and your state of residence. If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. 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. APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visitomf.com/loanfeesfor more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB's Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.

Borrowers in these states are subject to these minimum loan sizes:Alabama:$2,100.California:$3,000.Georgia:$3,100.North Dakota:$2,000.Ohio:$2,000.Virginia:$2,600.

Borrowers in these states are subject to these maximum loan sizes:North Carolina:$9,000 for unsecured loans to all customers, $9,000 for secured loans to present customers.Maine: $7,000.Mississippi:$12,000.West Virginia: $14,000. Loans to purchase a motor vehicle or powersports equipment from select Maine, Mississippi, and North Carolina dealerships are not subject to these maximum loan sizes.

Example Loan:A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.

Time to Fund Loans:Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursem*nt by check or ACH may take up to 1-2 business days after loan closing.

Who's this for?OneMain Financialoffers loan options that are much less rigid compared to other lenders. This lender generally accepts applicants with at least apoor or fair credit score,but if you're worried your credit score will hurt your chances of securing a better interest rate, you may be able to submit your application with a co-applicant. Plus, borrowers can take advantage of repayment terms with a bit more flexibility compared to that of some lenders as terms range from 24 months to 60 months.

Another feature that makes this lender a little more flexible is the ability to secure your loan with collateral. Personal loans are generally unsecured debt, meaning you can borrow the money outright without having to offer up something of value. But withsecured loans, a borrower essentially uses another asset as a "promise" that if they fail to repay their loan in full, the lender can seize that asset from them as collateral. Not only does OneMain Financial give you this option, but doing so also lets you potentially receive an even lower interest rate. Plus, borrowers can actually choose the date their monthly payments are due.

The origination fee with OneMain Financial is on the higher end: either a fixed fee between $25 and $500 or up to 10% of the loan amount, depending on which state you live in. And while there aren't any penalties for paying off the loan early, there is a late fee that will run you either $30 or up to 15% (depending on your state).

See if you're pre-approved for a personal loan offer.

Best if you need a co-applicant

SoFi Personal Loans

  • Annual Percentage Rate (APR)

    8.99% - 29.49% when you sign up for autopay

  • Loan purpose

    Debt consolidation/refinancing, home improvement, relocation assistance or medical expenses

  • Loan amounts

    $5,000 to $100,000

  • Terms

    24 to 84 months

  • Credit needed

    Good to excellent

  • Origination fee

    No fees required

  • Early payoff penalty


  • Late fee


Terms apply.


  • No origination fees required, no early payoff fees, no late fees
  • Unemployment protection if you lose your job
  • DACA recipients can apply with a creditworthy co-borrower who is a U.S. citizen/permanent resident by calling 877-936-2269
  • Can have more than one SoFi loan at a time (state-permitting)
  • May accept offer of employment (to start within the next 90 days) as proof of income
  • Co-applicants may apply


  • Applicants who are U.S. visa holders must have more than two years remaining on visa to be eligible
  • No co-signers allowed (co-applicants only)

Fixed rates from 8.99% APR to 29.49% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Who's this for?SoFiactually only considers applicants withgood or excellent creditfor its personal loan products. However, because this lender is very open to borrowers who need a co-applicant, it's still worth considering if your credit score is closer to the poor/fair range.

Aco-applicant on a personal loan can be beneficialfor someone who has damaged credit, poor credit or a credit history that's so insufficient that they likely may not be approved for the loan if they applied alone. Or, sometimes a co-applicant can be used to give qualifying borrowers with an already good credit score an extra boost for securing better interest rates.

An ideal co-applicant will have a higher credit score and higher income. These attributes tell lenders that the borrowers are more likely to be able to afford to repay the loan. The co-applicant is also financially on the hook for repaying the loan if the other co-applicant fails to make payments.

SoFi doesn't charge any late fees orearly payoff fees. And, you can borrow between $5,000 to $100,000, which makes SoFi an attractive option for people who need to borrow larger amounts for bigger expenses.

You can get your loan funded the same day, or the next business day, provided you don't need to apply with additional information. Plus, when you sign up for a SoFi Personal Loan, you can join its membership platform to take advantage of a host of other perks like career counseling, financial advising and more.

Best for quick funding

Avant Personal Loans

  • Annual Percentage Rate (APR)

    9.95% to 35.99%

  • Loan purpose

    Debt consolidation, major expenses, emergency costs, home improvements

  • Loan amounts

    $2,000 to $35,000

  • Terms

    12 to 60 months

  • Credit needed


  • Origination fee

    Administration fee up to 9.99%

  • Early payoff penalty


  • Late fee

    Up to $25 per late payment after 10-day grace period

Click here to see if you prequalify for a personal loan offer. Terms apply.


  • Lends to applicants with scores lower credit scores
  • No early payoff fees
  • Can pre-qualify with a soft credit check (no hard inquiry)
  • Quick funding (often by the next day)
  • Late payment grace period of 10 days


  • Origination fee
  • Potentially high interest (caps at 35.99% APR)
  • No autopay APR discount
  • No direct payments to creditors (for debt consolidation)
  • No co-signers

Who's this for? Avant is one personal loan lender that can typically provide funding as soon as the next business day after you're approved — of course, you'll need to be sure you have all the correct information handy and that you've accurately filled out your application to make sure you can receive funding without a hitch. Avant will consider applicants with credit scores under 600, but, again, we remind you that the higher your credit score, the more likely you are to receive the lowest, best rates. This lender also offers personal loan amounts as low as $2,000 and as high as $35,000.

While there are no penalties for early payoff, there is an origination fee of up to 4.75% and a late fee of up to $25 after the 10-day grace period.

Common personal loan definitions you should know

Here are some common personal loan terms you need to know before applying for one.

  • Co-applicants or joint applications:A co-applicant is a broad term for another person who helps you qualify by attaching their name (and financial details) to your application.A co-applicant can be a co-signer or a co-borrower. Having a co-applicant can be helpful when you have a poor or fair credit score. If your co-applicant has a good credit score, you might be offered better terms, including qualifying for a lower APR and/or a bigger loan. However, both applicants' credit scores will be affected if you don't pay back your loan, so be sure that your co-applicant is someone you feel comfortable sharing financial responsibility with.
  • Co-signers: A co-signer agrees to help you qualify for the loan, but they are only responsible for making payments if you are unable to. The co-signer does not receive the loan, nor do they necessarily make decisions about how it is used. However, the co-signers credit will be negatively affected if the main borrower misses payments or defaults.
  • Co-borrower:Unlike a co-signer, a co-borrower is responsible for paying back the loan and deciding how it is used. Co-borrowers are usually involved in decisions about how the loan is used. Some lenders will only consider two co-borrowers who share a home or business address, as this is a firm indicator that they are sharing the responsibility of money in mutually beneficial ways. Both co-borrowers' credit scores are on the hook if either one stops making payments or defaults.
  • Direct payments: Some lenders offer direct payments when you select debt consolidation as the reason for taking out a personal loan. With direct payments, the lender pays your creditors directly, and then deposits any leftover funds into your checking or savings account. Until you see your account balance is fully paid off, it's best to keep making payments so that you don't get hit with additional late fees and interest charges.
  • Early payoff penalty:Before you accept a loan, look to see if the lender charges an early payoff or prepayment penalty. Because lenders expect to get paid interest for the full term of your loan, they could charge you a fee if you make extra payments to pay your debt down quicker. The fees could equal either the remaining interest you would have owed, a percentage of your payoff balance or a flat rate.
  • Origination fee:An origination fee is a one-time upfront charge that your lender subtracts from your loan to pay for administration and processing costs. It is usually between 1% and 5%, but sometimes it is charged as a flat-rate fee. For example, if you took out a loan for $20,000 and there was a 5% origination fee, you would only receive $19,000 when you got your funds. Your lender would get$1,000 of the loan off the top,and you'd still have to pay back the full $20,000 plus interest.It's best to avoid origination fees if possible.
  • Unsecured versus secured loans: Most personal loans are unsecured, meaning they are not tied to collateral. However, if your credit score is less-than-stellar and you're finding it hard to qualify for the best loans, you can sometimesuse a car, house or other assetsto act as collateral in case you default on your payments. When you put an asset up as collateral, you are giving your lender permission to repossess it if you don't pay back your debts on time and in full.

Read more

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6 personal loan lenders that’ll get you funded in as little as 1 business day

Personal loan vs. emergency fund: Which should you use for an unexpected home repair?

Looking for a personal loan but you have less-than-perfect credit? Here are 4 options to consider

Our methodology

To determine which personal loansare the best,CNBC Selectanalyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions, that come with fixed-rate APRs and flexible loan amounts and terms to suit an array of financing needs.

When narrowing down and ranking the best personal loans for fair or good credit, we focused on the following features:

  • Fixed-rate APR:Variable rates can go up and down over the lifetime of your loan. With a fixed rate APR, you lock in an interest rate for the duration of the loan's term, which means your monthly payment won't vary, making your budget easier to plan.
  • Flexible minimum and maximum loan amounts/terms:Each lender provides a variety of financing options that you can customize based on your monthly budget and how long you need to pay back your loan.
  • No early payoff penalties:The lenders on our list do not charge borrowers forpaying off loans early.
  • Streamlined application process:We considered whether lenders offered same-day approval decisions and a fast online application process.
  • Customer support:Every loan on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help you educate yourself about the personal loan process and your finances.
  • Fund disbursem*nt:The loans on our list deliver funds promptly through either electronic wire transfer to your checking account or in the form of a paper check. Some lenders offer the ability to pay your creditors directly.
  • Autopay discounts:We noted the lenders that reward you for enrolling in autopay by lowering your APR by 0.25% to 0.5%.
  • Creditor payment limits and loan sizes:The above lenders provide loans in an array of sizes, from $500 to $100,000. Each lender advertises its respective payment limits and loan sizes, and completing a preapproval process can give you an idea of what your interest rate and monthly payment would be for such an amount.

After reviewing the above features, we sorted our recommendations by best for having no credit history, borrowing smaller loan amounts, flexible terms, applying with a co-applicant and getting secured loan options.

Note that the rates and fee structures advertised for personal loans are subject to fluctuate in accordance with the Fed rate. However, once you accept your loan agreement, a fixed-rate APR will guarantee interest rate and monthly payment will remain consistent throughout the entire term of the loan. Your APR, monthly payment and loan amount depend on your credit history and creditworthiness. Before providing a loan, lenders will conduct a hard credit inquiry and request a full application, which could require proof of income, identity verification, proof of address and more.

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

5 personal loan lenders that accept applicants with credit scores below 670 (2024)


Can I get a personal loan if my credit score is 670? ›

If you have a credit score of 670 or higher, you are likely to have access to a wide range of financial products and services, including personal loans with favorable terms and conditions.

How big of a personal loan can I get with a 670 credit score? ›

You can borrow $50,000 - $100,000+ with a 670 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

Can I get a personal loan with a 640 score? ›

Can I get a personal loan with an 640 credit score? You aren't likely to get a lender's best rates on a personal loan without a good credit score, but a FICO score of 640 should allow you to qualify for one.

What is the minimum credit score for SoFi? ›

Where SoFi personal loans falls short. Good-to-excellent credit required: SoFi requires a minimum credit score of 680 to be approved for a personal loan, which is higher than some other lenders. No co-signer options: While there can be two borrowers, co-signing isn't available.

What is the minimum credit score for a personal loan? ›

Many give preference to borrowers with good or excellent credit scores (690 and above), but some lenders accept borrowers with bad credit (a score below 630). The typical minimum credit score to qualify for a personal loan is 560 to 660, according to lenders surveyed by NerdWallet.

What is the minimum credit score for LendingTree? ›

You can check your credit score for free with LendingTree Spring — without impacting your credit. While credit scores range from 300 to 850, the minimum credit score for a personal loan is typically 580. However, borrowers with scores of 640 or higher tend to get better loan rates and terms.

Is a 900 credit score possible? ›

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

What is the easiest installment loan to get approved for? ›

What is the easiest type of installment loan to get? In general, the easiest type of installment loan to get will be a short-term personal loan that doesn't require a credit check, such as a payday loan, pawn shop loan or car title loan.

Which loan companies use Equifax only? ›

PenFed Credit Union is the only loan company that uses only your Equifax credit data. In most cases, you won't be able to determine beforehand which credit bureaus your lender will use. In some cases, lenders will pull your credit report from two or even all three major credit bureaus.

What credit score do I need for a $5000 loan? ›

Requirements for a $5,000 loan vary by lender. But in general, you should have at least Fair credit, which is a score of 580 or above. Lenders may also look at other factors, such as your income and your debt-to-income ratio (DTI), during the application process.

What credit score do I need for a $3,000 loan? ›

You will need a credit score of 580 or higher for a $3,000 personal loan. Most lenders that offer personal loans of $3,000 or more require a 580+ credit score for approval, along with enough income to afford the monthly payments.

Can I get a $5,000 personal loan with a 600 credit score? ›

With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780. Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000).

What credit score do I need for a $10000 personal loan? ›

Requirements will vary across lenders. However, qualifying for a $10,000 personal loan typically requires a credit score that exceeds 640, an active checking account, and a steady, verifiable income, among other factors.

How much of a personal loan can I get with a 650 credit score? ›

You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

What credit score do you need to get a $30,000 loan? ›

In general, lenders extend $30,000 loans to borrowers with good to excellent credit, which is typically 670 and higher. But there may be lenders who lend to borrowers with bad credit. If you're having difficulty qualifying, you may consider getting a cosigner or co-borrower to help you get approved for the loan.

How much personal loan can I get with a 650 credit score? ›

The best personal loans for a 650 credit score are from Upstart because they offer $1,000 - $50,000 with APRs of 6.4% - 35.99% and repayment periods of 36, 60 months.

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