Personal Loans for Fair Credit: Best of August 2022 | Bankrate

The range of loan amounts that a lender will service. The maximum value is the largest amount a lender will give although this amount may not be available to borrowers who don’t have good or excellent credit. Amount ranges may vary for non-loan products. Term refers to the amount of time you have to repay the loan.

4.6

Bankrate Score

APR from

7.99-
22.73%

with AutoPay

Loan Amount

$5k-
$100k

Term: 2-7 yr

Min. Credit

Not disclosed

See Offers

  • Personal loans from $5,000 to $100,000
  • Low fixed rates (with AutoPay) and no origination fees
  • Checking your rate will not affect your credit score
  • Simple online application and live customer support

*Personal Loan Disclaimer Fixed rates from 7.99% APR to 22.73% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 8/1/22 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. Lowest rates reserved for the most creditworthy borrowers. 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, income, and other factors. See APR examples and terms. 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.

APR From

7.99

%

Loan Amount

$5k-
$100k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Payoff

4.6

Bankrate Score

APR from

5.99%

Loan Amount

$5k-
$40k

Term: 2-5 yr

Min. Credit

Not disclosed

See Offers

Payoff

  • No prepayment penalties, application fees, late fees, or hidden fees. Because no one wants to do that
  • You can consolidate all your credit card payments down to one monthly, affordable, fixed-rate payment between 5.99% and 24.99% APR

"This does not constitute an actual commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to enable us to verify your income, assets, and financial condition. Your interest rate and terms for which you are approved will be shown to you as part of the online application process. Most applicants will receive a variety of loan offerings to choose from, with varying loan amounts and interest rates. Borrower subject to a loan origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements."

APR From

5.99

%

Loan Amount

$5k-
$40k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

LendingClub

4.5

Bankrate Score

APR from

6.34-
35.89%

Loan Amount

$1k-
$40k

Term: 3-5 yr

Min. Credit

Not disclosed

See Offers

LendingClub

  • We’ve helped over 4 million members start their journey out of debt
  • Get your cash in as little as 48 hours 1 
  • Check your rate with no impact to your credit score 2
  • Take advantage of unique offerings—balance transfer loans, joint applications, auto loans, and other member perks.

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. 

APR ranges from 6.34% to 35.89% and is determined at the time of application. Origination fee ranges from 2% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 3/15/22 and are subject to change without notice. 

1. Between July 2021 and September 2021, more than two-thirds of personal loans issued by LendingClub Bank were funded within 48 hours after loan approval. The time it takes for a loan to be funded is not guaranteed and individual results vary based on multiple factors, including but not limited to investor demand.
2. Checking your loan rate generates a soft credit inquiry on your credit report, which is visible only to you. A hard credit inquiry, which is visible to you and others, and which may affect your credit score, only appears on your credit report if and when a loan is issued to you. Your loan APR will depend upon your credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and your credit usage and history. 

Unless otherwise specified, all loans and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment.  Deposit accounts are subject to approval.  Only deposit products are FDIC insured. 

“LendingClub” and the “LC” symbol, and “Radius” and the “R” symbol, are trademarks of LendingClub Bank. 
© 2021 LendingClub Bank. All rights reserved.

APR From

6.34

%

Loan Amount

$1k-
$40k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Marcus

4.8

Bankrate Score

APR from

6.99-
24.99%

Loan Amount

$3.5k-
$40k

Term: 3-6 yr

Min. Credit

Not disclosed

See Offers

Marcus

  • No Fees. Ever. We don't deduct a sign-up fee from your loan amount.
  • Loans from $3,500 to $40,000 and fixed rates from 6.99% to 19.99% APR. Only the most creditworthy applications qualify for the largest loan amounts and lowest rates.
  • Discount when enrolled in Autopay
  • You may be required to have some of your funds sent directly to creditors to pay down certain types of unsecured debt

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. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose, our evaluation of your creditworthiness, your credit history, if we have recently declined your loan application and the number of loans you already have with us. 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. You may be required to have some of your funds sent directly to creditors to pay down certain types of unsecured debt. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.

APR From

6.99

%

Loan Amount

$3.5k-
$40k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

Lending Point

4.4

Bankrate Score

APR from

7.99-
35.99%

Loan Amount

$2k-
$37k

Term: 2-5 yr

Min. Credit

Not disclosed

See Offers

Lending Point

  • “”

* Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms, and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 7% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $1,500. For a well-qualified customer, a $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month. (Actual terms and rate depend on credit history, income, and other factors.) Customers may have the option to deduct the origination fee from the disbursed loan amount if desired. If the origination fee is added to the financed amount, interest is charged on the full principal amount. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.

APR From

7.99

%

Loan Amount

$2k-
$37k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

OneMain

3.9

Bankrate Score

APR from

18.00-
35.99%

Loan Amount

$1.5k-
$20k

Term: 2-5 yr

Min. Credit

None

See Offers

OneMain

  • Personal and auto loans from $1,500-$20,000 (GA minimum $1,500 existing customers for new loans $3100 for others)
  • A quick decision on your loan request
  • Clear loan terms with no hidden fees and no prepayment penalties
  • Apply online, by phone or at your local branch.

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. 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 $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. 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: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

APR From

18

%

Loan Amount

$1.5k-
$20k

Min Credit

None

See Offers

Check rate with Bankrate

Freedom Debt Relief

APR from

Loan Amount

$15k-
$100k

Min. Credit

Not disclosed

See Offers

Freedom Debt Relief

  • Best for users with 25k or more in debt
  • Over 650,000 clients enrolled

The leader in the debt negotiation with over $10 billion in debt resolved and over 500,000 clients enrolled since 2002. Request a free debt consultation to find out if you could settle your debt for less than you currently owe. Get debt relief in as little as 24-48 months (Terms Apply).

APR From

Loan Amount

$15k-
$100k

Min Credit

Not disclosed

See Offers

Check rate with Bankrate

National Debt Relief

APR from

Loan Amount

$10k-
$100k

Min. Credit

None

See Offers

National Debt Relief

  • Client dashboard for 24/7 monitoring
  • Available in 42 states across the US

Please Note: National Debt Relief does not offer loans. They provide professional debt relief services. You must have over $10,000 in unsecured credit card debt to qualify for debt relief assistance. Service is not available in: CT, GA, KS, ME, NH, SC, OR, VT, or WV.

APR From

Loan Amount

$10k-
$100k

Min Credit

None

See Offers

Check rate with Bankrate

Pacific Debt

APR from

Loan Amount

$10k-
$100k

Min. Credit

None

See Offers

Pacific Debt

  • Free online quote and program estimate
  • Nearly 20 years of experience helping consumers resolve debt

Team of certified debt counselors who will review all options available to you. Pacific Debt Relief has been helping consumers since 2002. Zero up front fees – program costs are 100% contingent on your success.

APR From

Loan Amount

$10k-
$100k

Min Credit

None

See Offers

Check rate with Bankrate