Compare $15,000 personal loans

Explore costs and learn how to qualify for a competitive deal.

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When you need $15,000, you’re in luck — there are lots of lenders to choose from. Make sure you compare your options to find the most competitive rates and terms that you’re eligible for.

Our top pick: Credible Personal Loans

  • Min. Credit Score Required: Fair to excellent credit
  • Min. Loan Amount: $1,000
  • Max. Loan Amount: $100,000
  • APR: 5.95% to 35.99%
  • Requirements: Fair to excellent credit, ages 18+ and a US citizen or permanent resident
  • Free loan connection service
  • Personalized rates in minutes
  • Secure online application

Our top pick: Credible Personal Loans

Get personalized rates in minutes and then choose an offer from a selection of top online lenders.

  • Min. Credit Score Required: Fair to excellent credit
  • Min. Loan Amount: $1,000
  • Max. Loan Amount: $100,000
  • APR: 5.95% to 35.99%
  • Requirements: Fair to excellent credit, ages 18+ and a US citizen or permanent resident

Compare $15,000 loans

Updated December 7th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Varies by lender
Available for all credit scores
Get connected with a lender — or get debt advice.
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
5.95% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.

Compare up to 4 providers

How to get a $15,000 personal loan in 4 steps

Step-by-step application instructions with screenshots

What do I need to qualify?

Here’s what lenders are generally looking for in applicants:

  • Why you’re taking out the loan. A $15,000 loan could be used for a variety of large purchases that can demonstrate different levels of responsibility. If you’re using the loan for a repair on a home you own, the lender may see that as a less risky borrowing reason than someone who’s using the money for a vacation, for example.
  • Your creditworthiness. What you’ve borrowed in the past, your payment history, your current debts, among other factors, all affect the APR you could be offered.
  • Specifics about your income. Lenders want to know if you’re making enough money to cover the amount you want to borrow, but that’s not all. Your debt-to-income (DTI) ratio is also important, as lenders want to see that you can afford all of your financial obligations. Most lenders want to see a DTI below 43%.
  • Your employment status. Because income is a big factor when assessing your application, lenders will want to know that you have a stable job with regular paychecks.

The three Cs of eligibility

  • Character is about creditworthiness, how you’ve handled your debt payments in the past.
  • Capital is better known as collateral. If your creditworthiness is lacking, some lenders may only offer you secured loans. A secured loan will require collateral — an asset they can take possession of if you don’t repay the loan as you’ve agreed.
  • Capacity refers to your ability to repay the loan. Lenders look at the length and type of your employment as well as your income and DTI. Generally, you need to show that you’re able to comfortably afford your repayments.

How much will a $15,000 loan cost?

The cost of your $15,000 loan depends on two main factors: the term and the APR. You can use our calculator to find out how much a $15,000 loan would cost you each month and overall.

Calculate the cost of a $15K loan

Cost example: Repaying a $15,000 loan over 5 years

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.

APRMonthly repaymentTotal amount repaidTotal interest paid

How to get the best rate and terms

Ask yourself three questions about important factors that’ll determine the rate and term of your loan.

  • Do I want a fixed vs. variable interest rate? Is the interest rate set for the entire loan term or will it fluctuate with the market? Variable interest rate loans typically have lower starting APRs than fixed ones but have the possibility to increase over time. Learn more with our guide to fixed versus variable rates.
  • Do I meet the minimum credit score set by the lender? If your credit score isn’t in the good to excellent range needed to qualify, you may want to consider an installment loan instead.
  • Can I secure the loan for a lower rate? Some lenders offer both secured and unsecured personal loans, with lower APRs when you secure the loan with collateral, such as a vehicle or savings account.

Additional tips:

  • When applying, be sure to include all your income and assets — your savings and investment accounts, for example — in the application to demonstrate your ability to repay the loan.
  • Apply for the smallest amount and shortest term as possible. A longer repayment period means smaller monthly payments, but a higher cost overall with the added interest payments.

How is my creditworthiness determined?

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:

Credit scoreRating
740+Very good

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.

Find out your credit score

What if I have bad credit?

It can be difficult to qualify for a personal loan with bad credit. If you’re okay with getting a lower loan amount for now, you could get a $5,000 loan with bad credit. You could also consider comparing installment loan options — these loans typically range from $1,000 to $10,000 and have more lenient eligibility criteria. However, rates tend to be in the triple digits, making these installment loans much more expensive than a traditional personal loan.

If you think your credit score is lower than it should be, you can check your credit report. In the event you find errors like incorrect late payments or delinquent accounts that should’ve been closed, you can contact the credit bureau to have that mistake fixed. If your credit report is accurate and you still have bad credit, you may want to try to build your credit before taking out a $15,000 loan.

Tips to improve your credit score

What can I use a $15,000 personal loan for?

  • Consolidate credit card debt. Whether you have balances on one or multiple credit cards, you can pay them off with a credit card consolidation loan and save money on interest while simplifying your payments.
  • Learn about even more personal loan uses. Personal loans can generally be used for just about any legitimate purposes. Find out some of the most common uses for personal loans and compare lenders.

Other factors to keep in mind

  • Additional costs. Consider any fees or charges beyond the interest rate. The APR gives an idea of the total cost of the loan including origination and processing fees. However, you may also want to keep a lookout for penalty fees that aren’t included in the APR for things like late payments or early payoff, if applicable.
  • Terms and conditions. Be sure to read the terms and conditions of the loan agreement for things about the loan that may not have been advertised. You can contact a customer support representative if you don’t understand something in the document. Things to flag may include hidden fees or privacy policies regarding your personal information.
  • Alternatives if you have bad credit. If it turns out a personal loan isn’t the best fit for you because of your credit score or eligibility, you can look into installment loans as another borrowing option.

Bottom line

Just about all personal loan lenders offer $15,000 loans, so you have plenty of options to compare. Check out the comparison table above to see the starting rates and eligibility requirements.

If you’d like to learn more about comparing your personal loan options, different types of loan available and how to apply, you can check out our guide to personal loans.

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2 Responses

  1. Default Gravatar
    JamieOctober 9, 2018

    I would like to get a personal loan for 15,000 and use my deed to my house and I have a credit score of 560

    • Avatarfinder Customer Care
      nikkiangcoOctober 10, 2018Staff

      Hi Jamie,

      Thanks for your inquiry and for visiting our page.

      Great job on the credit score! Here is a page that lists collateral loans. Read the page carefully to check what other properties you can use for as collateral for your loan.

      As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the product disclosure statement of the product and contact the lender should you need any clarifications about the card.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


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