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Upstart personal loans
While not all lenders offer $50,000 loans, many do. You’ll likely need good credit to qualify, but some lenders have more flexibility. This means even bad or fair credit borrowers may be able to get a loan if they can show sufficient income.
These providers offer $50,000 loans and cater to borrowers with a range of credit scores. Search by state, credit score and loan amount to find the right option for your needs.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Banks, credit unions and online lenders all offer personal loans up to $50,000. Online lenders like Upgrade, Upstart or LightStream typically offer the fastest approval processes – while traditional banks and credit unions may take longer to underwrite and approve your loan.
Certain banks and credit unions offer personal loans up to $50,000, but many require that you live in a certain state or have an account before you apply.
Lender | Interest rates | Loan amounts | |
---|---|---|---|
Wells Fargo | 6.99% to 23.24% | $3,000 to $100,000 | |
Alliant | 6.24% to 27.24% | $1,000 to $50,000 | |
First Tech Federal Credit Union | Starting at 5.70% | $500 to $50,000 | |
KeyBank | 7.84% to 18.24% | $5,000 to $50,000 | |
New York Municipal Credit Union (MCU) | 7.95% to 15.45% | $1,000 to $50,000 | |
Navy Federal Credit Union | 7.49% to 18.00% | $250 to $50,000 | |
Regions | 7.99% to 29.99% | $2,000 to $50,000 | |
Umpqua | 9.02% (starting at) | $1,000 to $100,000 |
To qualify for a $50,000 loan, lenders look at your credit score, and debt-to-income (DTI) ratio and income.
Be prepared to meet the following criteria to qualify:
To increase your chances of approval, get a copy of your credit report and make sure it’s accurate. You can order a free copy from Equifax, Experian and TransUnion once a year. Then, stay current with your payments and don’t take on any new debt.
If you’re ready to apply, check the lender’s eligibility criteria and prequalify for the loan before applying, if possible. Prequalifying for a loan doesn’t hurt your credit score – but every hard application dings your credit score by a few points.
If you’re unsure whether you qualify or not, contact the lender and speak with a loan officer who can give you a better idea. This can help keep your credit score intact as you search for the best loan.
Having a fair or bad credit rating doesn’t automatically disqualify you from getting a $50,000 loan. But you’ll pay a higher interest rate than someone with good to excellent credit – plus origination fees which can run from 1% to 10% of the total loan amount.
To increase your chances of approval:
The cost of your personal loan is determined by the interest rate and term. The shorter your loan term, the higher your monthly payments will be — but the less interest you’ll pay. Currently, rates range from 6% APR for excellent credit borrowers up to 35.99% APR for bad credit borrowers.
Here’s what a personal loan would cost with an APR of 10.73% – the national average in 2022.*
Loan term | Monthly payment | Total interest |
---|---|---|
2 years | $2,324 | $5,779.10 |
5 years | $1,080 | $14,824.04 |
7 years | $849 | $21,319.37 |
As this table shows, you need to be able to afford monthly repayments of at least $849 — likely more. If you can only qualify for the highest rate and longest term, you could end up paying nearly twice as much in interest as the loan itself.
*We chose 10.73% APR because it is the average interest rate for personal loans, according to 2022 data from Bankrate.
Have a loan in mind? Use our calculator to find out how much your $50,000 loan will cost you at different rates and terms.
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Follow these steps to apply for a $50,000 loan:
To limit the amount you pay in interest:
Paying off a $50,000 loan can seem overwhelming. Here are some tips for paying off your loan faster.
Even if you can secure a $50,000 loan, keep the following watch outs in mind:
Taking out a personal loan for $50,000 isn’t the only way to access cash for a range of needs.
Other alternatives include:
Kat Aoki is a personal finance writer at Finder who specializes in breaking down what you need to know before taking out a loan — from the best mortgage providers by state to how to get the lowest rate on a debt consolidation loan. And she’s no stranger to personal finance. Since 2011, she’s written hundreds of thoughtful, informative articles to help consumers make better decisions on their home loans, credit cards, insurance policies and more. Kat is also well-versed in working with leading brands in the real estate, mortgage and personal finance industries, including Amex, Citibank, GE Money and RealEstate.com.au, among others. She holds a BS in Business Administration and Marketing from California State University and enjoys travel and hiking in her spare time.
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