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Best personal loans for fair credit

Our top picks for borrowers with credit scores between 580 and 669.


Fact checked
If your credit score falls somewhere between 580 and 669, your personal loan options are slightly limited. Since you might not qualify for the lowest rates, look for a lender that has a high maximum APR and considers other factors besides credit.

To help you get started, our team of experts reviewed over 100 personal loan providers to come up with a list of the cream of the crop. We compared rates, terms and borrowing amounts, as well as customer reviews on sites like Trustpilot and the Better Business Bureau. We also made a point to pick providers that served a wide range of needs, from consolidating debt to investing in home improvements.

8 best personal loans for fair credit

Upgrade personal loans logo
Finder Rating: 3.98 / 5


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at Upgrade personal loans's secure site

Best for flexible repayments: Upgrade personal loans

Min. Credit Score
Starting APR
Loan Amount
Upgrade not only has a lower starting APR, but its hardship program allows you to change your repayment due date, defer two repayments or make a partial payment if cash is tight. You'll also have a grace period of 15 days before having to pay a late fee.

In addition, you'll still be able to qualify with a credit score of 600 and a debt-to-income ratio of 50% — much higher than many other lenders. Just remember that its maximum rate is a high 35.97%. So while you may still be approved with fair credit, you could face hefty interest charges over the life of your loan.

  • Potential next-day turnaround
  • Prequalify without affecting your credit
  • Access to free credit monitoring
  • High origination fee between 1.5% and 6%
  • Harder to qualify if you're self-employed
  • Need at least $1,000 in free cash flow a month to qualify
Loan Amount $1,000 – $35,000
APR 7.99% to 35.97%
Interest Rate Type Fixed
Min. Credit Score 600
Min term 36 months
Max term 60 months
Turnaround Time Up to 5 business days

Personal loans made through Upgrade feature APRs of 6.98%-35.89%. All personal loans have a 1.5% to 6% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by WebBank, Member FDIC.

Upstart personal loans logo
Finder Rating: 4.15 / 5


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at Upstart personal loans's secure site

Best for limited credit history: Upstart personal loans

Min. Credit Score
Starting APR
Loan Amount
You'll need a credit score of at least 580 or 620 depending on your state of residence to qualify with Upstart. But unlike other lenders, Upstart considers more than just that score. Your education may also play a role. And if you don't have enough credit history to have a FICO score, Upstart will still consider you.

Combined with its low starting APR and high maximum loan amount, it may be a good choice if you don't have many lines on your credit report. Just watch out for its high origination fee and high maximum APR of 35.99%. These can make it much more expensive to borrow if you're on the lower end of the fair-credit range.

  • Available in all states but West Virginia and Iowa
  • Considers more than just your credit score
  • Might be able to get your funds the next business day
  • High origination fee up to 8%
  • Debt-to-income ratio must be under 18%
  • Can't apply with a cosigner
Loan Amount $1,000 – $50,000
APR 7.98% to 35.99%
Interest Rate Type Fixed
Min. Credit Score 600
Min term 36 months
Max term 60 months
Turnaround Time 1 to 3 business days
Payoff personal loans logo
Finder Rating: 3.8 / 5


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at Payoff personal loans's secure site

Best for credit card consolidation: Payoff personal loans

Min. Credit Score
Starting APR
Loan Amount
Payoff is a lender that specializes in helping you pay off your credit cards. It offers extra features to keep you on track — like credit score updates — and claims borrowers improve their credit by an average of 40 points.

It also offers an unusual amount of career support. This includes a team of experts that can help you find a new job and the flexibility to change your repayment plan if you lose your job.

  • Specializes in credit card consolidation
  • Career support
  • Stay on top of your credit score
  • Low maximum loan amount
  • Origination fee of 2% to 5%
  • At least three years of positive credit history required
Loan Amount $5,000 – $40,000
Interest Rate Type Fixed
Min. Credit Score 640
Min term 24 months
Max term 60 months
Turnaround Time 2 to 5 days

Best for overall: Alliant Credit Union personal loans

Min. Credit Score
Starting APR
Loan Amount
With fair credit, you likely aren’t going to qualify for the lowest advertised rate. While Alliant’s rates start on the high end, they offer some of the lowest maximum APRs out there — lower than where some fair-credit lenders start.

The downside is that you must become a member, which might involve making a $5 donation to the Illinois-based credit union’s partner charity.

  • Low maximum APRs
  • No origination, late or prepayment fees
  • Protection for unemployment, death or disability
  • Must become a member
  • Few customer reviews
  • Not much information available online
Loan Amount $1,000 – $50,000
APR 6.24% to 27.24%
Interest Rate Type Fixed
Min. Credit Score 640
Max term 60 months
Turnaround Time As fast as the same day

Best for small-dollar loans: PenFed Credit Union personal loans

Min. Credit Score
Starting APR
Loan Amount
PenFed is one of the few personal loan providers that offers loans as low as $500. It also has highly competitive rates, which top off where some fair-credit providers start.

Like with Alliant, you have to become a member to join — but everyone's eligible, and you don't have to pay a fee to join. While you can borrow online from anywhere in the country, it only has branches in some states.

  • Loans as low as $500
  • Low maximum APR
  • No origination fees
  • Only has branches in a few states
  • Low maximum loan amount
  • Must become a member to borrow
Loan Amount $600 – $20,000
Interest Rate Type Fixed
Min. Credit Score 650
Min term 12 months
Max term 60 months
Turnaround Time One to two weeks after approval
Insured by NCUA.

Best for home improvements: GreenSky home improvement loans

Min. Credit Score
Starting APR
Loan Amount
Green Sky Direct offers financing specifically made for home improvement projects. Rather than giving you a lump sum, you get a card you can use to spend on your home improvement costs over six months. After those six months are up, you repay your balance like a term loan.

The downside is that you have to pay off any interest that adds up each month during those first six months — it’s more flexible than your typical personal loan, but it can be more expensive.

  • Only borrow the exact cost of your home improvement project
  • Cosigners accepted
  • Low starting APR
  • Potentially more expensive than a personal loan
  • Only six months to make purchases
  • Relatively long loan terms
Loan Amount $3,500 – $50,000
APR 3.99% to 26.99%
Interest Rate Type Fixed
Min. Credit Score 640
Min term 36 months
Max term 84 months

Best for fast funding: Rocket Loans personal loans

Min. Credit Score
Starting APR
Loan Amount
As Rocket Loans’ name suggests, it’s fast — even for an online lender. You can get funded as soon as the same day for loans under $25,000, as long as you apply early enough. And it claims that 90% of borrowers get funded as soon as the next business day.

But its rates aren’t that competitive. And it charges an origination fee that can get as high as 6% — most personal loan providers don’t charge more than 5%.

  • Potentially same-day funding
  • Reputation for good customer service
  • Prequalify online
  • Origination fee of 1% to 6%
  • Limited range of loan terms
  • High starting APR
Loan Amount $2,000 – $45,000
APR 7.16% to 29.99%
Interest Rate Type Fixed
Min. Credit Score 640
Min term 36 months
Max term 60 months
Turnaround Time As soon as the same day

Best for frequent borrowers who want to build credit: MoneyLion Credit Builder Plus personal loans

All credit scores accepted
Min. Credit Score

Starting APR
Loan Amount
MoneyLion Plus is a service you can sign up for to receive loans up to $500 in seconds. Everyone gets the same 5.99% APR with a term of one year to repay. It's a credit-builder loan — MoneyLion claims that most members improve their credit score by 20 points in the first month.

And members get access to a wide range of services — from investment portfolios to bonuses for healthy financial behavior. But you'll have to pay a monthly membership fee of $29, which might not be worth it for a one-time expense.

  • Instant funding for members
  • Everyone gets 5.99% APR
  • Rewards good financial habits
  • Monthly membership fee
  • No loans over $500
  • Not worth it for a one-time expense
Loan Amount Up to $1,000
APR 5.99% to 29.99%
Interest Rate Type Fixed
Min term 12 months

Summary of best personal loans for fair credit

Lender APR Best for … What sets it apart
Payoff 5.99% to 24.99% Credit card consolidation A stellar customer care team to walk you through the credit card consolidation process.
PenFed Credit Union 6.49% to 17.99% Small-dollar loans Loans as low as $500 and one of the lowest maximum APRs available to fair credit.
Upgrade 7.99% to 35.97% Flexible repayments The options to change your due date, defer or make partial repayments.
Upstart 7.98% to 35.99% Limited credit history An emphasis on education and career instead of just your credit score.
Alliant Credit Union 6.24% to 27.24% Fair credit in general No fees and protections for if you lose your job, become disabled or die.
GreenSky 3.99% to 26.99% Home improvements You get six months to rack up expenses before the balance turns into a loan.
Rocket Loans 7.16% to 29.99% Fast funding A turnaround time as fast as the same day for loans under $25,000.

How to choose the best personal loan with fair credit

Keep these tips in mind to find a competitive deal on a loan when you have fair credit:

  • Consider the maximum APR. You likely won’t qualify for the lowest potential rate with fair credit, so looking at the maximum rate a lender offers might be a better way to find a good deal.
  • Prequalify with multiple lenders. Fill out prequalification forms to find out what rates, terms and loan amounts you might qualify for with multiple lenders to make a more personalized comparison.
  • Apply with a cosigner. Applying with a cosigner with excellent credit can help you qualify for more competitive rates and higher loan amounts.

Where else can I get a fair-credit loan?

You can get a fair-credit personal loan from most types of lenders, including:

  • Online lenders. Online lenders tend to have more relaxed credit requirements than other types of providers — many rely on other signals of financial health beyond your credit score.
  • Credit unions. Credit unions are nonprofit, member-run financial institutions that tend to offer more competitive rates than their bank or online counterparts to fair-credit borrowers.
  • Banks. While large banks tend to require good to excellent credit, you might be able to find a good deal at a local or regional bank with fair credit.
  • Connection services. Connection services can help you prequalify with multiple lenders at once. This gives you an idea of what rates, loan amounts and terms you can qualify for, and which lender offers the best deal for you.
  • Peer-to-peer lenders. These online platforms connect borrowers with investors to fund your loan. They work a lot like online lenders, though it can take as long as a week to receive your funds.

How much will my loan cost me?

It generally depends on how much you borrow, your interest rate and term. You can use our monthly repayment calculator to find out how much that loan you had in mind costs each month and overall:

Bottom line

Your options are limited when you have fair credit, but it’s still possible to find a good deal. Online lenders, credit unions and small banks might be your best bet. But if you have a credit score below 640, you might want to consider applying with a cosigner — that’s the cutoff for most fair-credit lenders.

You can learn more about how borrowing works by reading our guide to personal loans.

Compare more personal loans for fair credit

Data indicated here is updated regularly
Name Product APR Min. Credit Score Max. Loan Amount
Upgrade personal loans
7.99% to 35.97%
Affordable loans with two simple repayment terms and no prepayment penalties.
NetCredit personal loans
34% to 155%
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo personal loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Even Financial personal loans
4.99% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
LendingPoint personal loans
9.99% to 35.99%
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Eloan personal loans
8.99% to 21.49%
610 FICO®
Apply online for a loan with no origination fees and next-business day funding after approval.

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