Best personal loans for fair credit

Our top picks for borrowers with credit scores between 560 and 669.

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If your credit score falls somewhere between 560 and 669, your personal loan options aren’t limited. You might not qualify for the absolutely lowest rates, but look for a lender that has a high maximum APR and considers other factors besides credit.

How we selected top personal loans for fair credit

We reviewed several personal loan providers to come up with a list that best suits the needs of a borrower with fair credit. We included lenders with a credit requirement of 560 and up and considered factors like APR, loan amounts and terms available.

No single personal loan will be the best choice for everyone, so compare your options before applying.

Top personal loans for fair credit

Best for no fees: Fairstone Personal Loan (Unsecured)

560
Min. Credit Score
26.99%
Starting APR
$20,000
Loan Amount
Fairstone offers both unsecured and secured personal loans. With a quick application process, you'll get a free online loan quote within minutes.
Min. Loan Amount $500
Max. Loan Amount $20,000
APR 26.99% - 39.99%
Interest Rate Type Fixed
Min. Credit Score 560
Minimum Loan Term 6 months
Maximum Loan Term 5 years
Pros
  • No early settlement fee
  • Flexible loan amounts
  • No prepayment fees
Cons
  • High starting APR

Best for easy and quick access: LendDirect Personal Loan

560
Min. Credit Score
19.99%
Starting APR
$15,000
Loan Amount
Min. Loan Amount $100
Max. Loan Amount $15,000
APR 19.99% - 46.93%
Interest Rate Type Fixed
Min. Credit Score 560
Minimum Loan Term No end dates
Maximum Loan Term No end dates
Pros
  • 100% online application
  • Cash advance options
  • Fast turnaround time
  • Automatic repayments can be set up
Cons
  • Max loan amount is $15,000

Best for low interest rates: LoanConnect Personal Loan

N/A
Min. Credit Score
10%
Starting APR
$50,000
Loan Amount
LoanConnect is an online broker that matches borrowers to lenders offering loans in amounts from $500 to $50,000. Get approved in as little as 60 seconds with any credit score.
Min. Loan Amount $500
Max. Loan Amount $50,000
APR 10.00%-46.96%
Interest Rate Type Fixed
Minimum Loan Term 6 months
Maximum Loan Term 60 months
Pros
  • No application or origination fees
  • Loans up to $50,000
  • Work with all credit scores and variety of income types
  • Secured and unsecured loans available
  • Available to borrowers in all provinces
  • Receive funds within as little as 24 hours
Cons
  • Not a direct lender

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 the 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.

Compare more personal loans for fair credit

Name Product Interest Rate Max. Loan Amount Loan Term Fees Min. Credit Score Link
LoanConnect Personal Loan
10.00%-46.96%
$50,000
6-60 months
No application or origination fees
N/A
Go to site
More Info
LoanConnect is an online broker that matches borrowers to lenders offering loans in amounts from $500 to $50,000. Get approved in as little as 60 seconds with any credit score.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$20,000
6 months - 5 years
None
560
Go to site
More Info
Fairstone offers unsecured personal loans up to $20,000
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$35,000
3-10 years
Varies by province
560
Go to site
More Info
Fairstone offers secured personal loans up to $35,000.
Cash Money Installment Loan
46.93%
$10,000
6 months - 5 years
Vary across provinces/territories
560
Go to site
More Info
Cash Money offers installment loans up to $10,000 for AB, MB and NB residents.
Alpine Credits Home Equity Loan
10.00% - 22.99%
$500,000
Up to 60 months
Between 5% - 8% of your APR will cover closing and admin fees.
300
Check eligibility
More Info
Alpine Credits offer home equity loans in amounts from $10,000 to $500,000. Must be a homeowner to qualify. Check eligibility for this loan through LoanConnect.
Refresh Financial Credit Builder Loan
19.99%
$25,000
3-5 years
No administration or origination fees.
300
Go to site
More Info
No funds are provided by Refresh upfront. Instead, funds are placed into a secured account to be accessed later. Your payments are reported to the credit bureaus, potentially impacting your credit score.
LendDirect Personal Loan
19.99% - 46.93%
$15,000
No end dates
None
560
Go to site
More Info
Borrow up to $15,000, based on your income and credit history, with a personal line of credit from LendDirect.
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Compare up to 4 providers

Bottom line

Your options aren’t limited when you have fair credit, 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 560, 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.

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