Editor's choice: Monevo personal loans
- Compare multiple lenders
- No obligation offers
- Loans from $1,000-$50,000
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Banks, credit unions and online lenders all offer personal loans — and it’s common to find good rates for $15,000. But the wide variety of lenders means you should take your time comparing options. Pick a lender that will work with your credit and budget so you can get the funding you need without much hassle.
To start the comparison process, select your estimated credit score and state, then click Show me my personalized options.
Before you get started on an application, follow these steps:
For a full breakdown of the application process, read our guide on how to apply for a personal loan.
Although eligibility criteria vary by lender, you should expect to meet the following requirements when you apply for any personal loan:
Your lender will likely require you to submit information about yourself as well. This can include your address, Social Security number, date of birth and contact information.
It’s possible, but you’ll need to meet other criteria. Lenders will be more lenient if you have minimal debts and a high income, but you may face a higher APR if you have bad credit. If you don’t, you should take steps to improve your credit or borrow a smaller amount.
The cost of your $15,000 loan depends on two main factors: Loan term and APR. A shorter loan terms gives interest less time to accrue, and a lower APR helps reduce the total amount of interest you’re required to pay.
Fees also play a role in the final cost. Late fees, non-sufficient funds (NSF) fees and prepayment penalties are common — and can quickly increase the cost of your loan.
You can use the calculator below to determine how much your monthly payment and total cost might be by adjusting the loan term and APR.
Loan costs vary based on the amount, term and APR. You can potentially shift these factors around to get different monthly payments and total costs.
|APR||Monthly repayment||Total amount repaid||Total interest paid|
Use these tips to put yourself in a position to get the best deal on your next loan.
A lender typically reviews your credit score and credit report to determine your creditworthiness. Your credit report is a detailed record of your credit history, including open accounts, credit inquiries and payment history. Your credit score is a number that represents your capacity to take on new credit and repay it. It’s based on five factors: payment history, amounts owed, length of credit history, new credit and types of credit used.
Your credit score greatly affects whether you’re approved as well as the rate and loan term you’re ultimately offered. Here are general ranges you can use to evaluate where you stand:
|670 to 739||Good|
|580 to 669||Fair|
|300 to 579||Poor|
A specific lender’s credit ranges may differ slightly, while others rely on your FICO score for evaluation. But to get the lowest interest rate and APR, you’ll typically need to be in the good to very good range.
Personal loans of $15,000 are common, so you have plenty of lenders to compare. For more information and some of our top choices, read our guide to personal loans.
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