While not all lenders offer $50,000 loans, many do. You’ll likely need good credit to qualify, but some lenders — especially online lenders — offer more flexibility. This means even bad or fair credit borrowers may be able to get a $50K 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.
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
Banks, credit unions and online lenders 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 generally take longer to underwrite and approve your loan.
Certain banks and credit unions offer personal loans up to $50,000, but you may need to live in a certain state or have an account before you apply.
| Lender | Interest rates | Loan amounts | |
|---|---|---|---|
| Alliant Credit Union | 8.74% to 27.24% | $1,000 to $100,000 | < |
| Connexus Credit Union | 9.99% to 18.94% | $1,000 to $50,000 | |
| Navy Federal Credit Union | 8.74% to 18.00% | $250 to $50,000 | |
| PenFed Credit Union | 6.74% to 17.99% | $600 to $50,000 | |
| TD Bank | 7.99% to 23.99% | $2,000 to $50,000 | |
| Truist | 8.45% to 17.29% | $25,000 to $250,000 | |
| U.S. Bank | 8.74% to 24.99% | $1,000 to $50,000 | |
| Wells Fargo | 6.74% to 26.49% | $3,000 to $100,000 |
To qualify for a $50,000 loan, lenders look at your credit score, debt-to-income ratio (DTI) and income. Be prepared to meet the following criteria to qualify:
There’s no set income requirement for a $50,000 loan, but lenders want to see steady earnings that show you can afford monthly payments. In most cases, borrowers need an annual income of at least $35,000 to $50,000, though this varies based on the lender and other financial factors. If you have significant debt, you may need a higher income to qualify.
Lenders also consider your credit score, employment stability and loan term when determining eligibility. To see if your income meets lender requirements, try using a loan affordability calculator or prequalifying — this allows you to gauge your chances of approval without impacting your credit score.
Start by getting 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, contact the lender and speak with a loan officer who can give you a clearer understanding of your options and help you avoid unnecessary credit inquiries.
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 with bad credit:
The total cost and monthly payment on your $50,000 personal loan are determined by the APR and term. The longer your loan term, the lower your monthly payments are — but the more interest you’ll pay. Many lenders also charge higher rates for longer loan terms, adding to that extra cost. Here’s how much the cost of a $50,000 loan might vary depending on the term.
| Loan term | APR | Monthly payment | Total interest |
|---|---|---|---|
| 2 years | 7.99% | $2,261.14 | $4,267.28 |
| 5 years | 8.79% | $1,032.83 | $11,969.75 |
| 7 years | 10.59% | $845.38 | $21,012.02 |
| 10 years | 11.99% | $717.07 | $36,047.89 |
As this table shows, you need to be able to afford monthly payments of at least $717 if you want to take out a $50,000 loan — assuming you can find a lender that offers repayment terms that long. It’s also important to note that when you extend the term from two to 10 years, you reduce your monthly payment by 68% but pay more than eight times as much in total interest.
Want to know how much monthly payments on a $50,000 personal loan will be? Plug your expected APR and repayment term into our calculator to find out.
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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 the cash you need. Here are some alternatives:
It could be difficult, depending on your qualifications. If you have good credit, steady income and a low debt-to-income ratio, you should have no problem getting a $50,000 personal loan. If you don’t meet the requirements, you may still qualify, but you’ll have to apply with a cosigner, offer collateral or choose a lender that works with bad credit borrowers.
Most lenders prefer a credit score of 670 or higher for a $50,000 personal loan, but some may approve lower scores if you have strong income and a low debt-to-income ratio. A few lenders, like Upstart, accept scores as low as 300, but be ready for higher interest rates.
Repayment terms for a $50,000 personal loan typically range from two to seven years, though some lenders offer terms as long as 10 years.
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