Best for installment loans for debt consolidation with bad credit
Personal loans made through Upgrade have an APR ranging from 5.94% to 35.47%. All personal loans have a processing fee of 2.9% to 8% that is deducted from the loan proceeds. The lowest interest rates require autopay and the direct payment of part of the existing debt. For example, if you received a $10,000 loan with a term of 36 months and an APR of 17.98% (including an annual interest rate of 14.32% and a one-time processing fee of 5%), you would end up with $9,500 into 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 offerings may not have multiple terms available. The actual interest rate depends on creditworthiness, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees can add to the cost of your fixed rate loan. There is no fee or penalty for prepaying a loan. Personal loans issued by Upgrade’s lending partners. For information about Upgrade’s lending partners, visit https://www.upgrade.com/lending-partners/. Accept your loan offer and your money will be transferred to your bank or account nominated within one (1) business day after the necessary verifications have been approved. The availability of funds depends on how quickly your bank processes the transaction. Funds should be available within four (4) business days from the time of approval. Funds sent directly to pay out your creditors can take up to 2 weeks depending on the creditor.
on the Universal Credit website
Best for bad credit installment loans with credit building tools
Personal loans issued through Universal Credit have an APR of 8.93% to 35.93%. All personal loans have a processing fee of 4.25% to 8% that is deducted from the loan proceeds. The lowest interest rates require autopay and the direct payment of part of the existing debt. For example, if you received a $10,000 loan with a term of 36 months and an APR of 27.65% (including an annual interest rate of 22.99% and a one-time processing fee of 6%), you would end up with $9,400 your account and have a required monthly payment of $387.05. Over the life of the loan, your payments would total $13,933.62. The APR on your loan may be higher or lower and your loan offerings may not have multiple terms available. The actual interest rate depends on creditworthiness, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees can add to the cost of your fixed rate loan. There is no fee or penalty for prepaying a loan.
Best for bad credit installment loans for low credit borrowers
Your loan amount will be determined based on your creditworthiness, income and certain other information provided in your loan application. Not all applicants will receive the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000). financial information. Rate and loan amount are subject to change based on the information provided in your complete application. This offer can only be accepted by the person named in this offer, who is of legal age to enter into a loan agreement, is a US citizen or permanent resident and is a current resident of the US. Duplicate offers are not valid. Completion of your loan is conditional on you meeting our eligibility requirements, having your information verified by us and agreeing to the terms and conditions on the www.upstart.com website. The full range of interest rates available varies by state. The average 5-year loan offered to all lenders using the Upstart platform has an APR of 21.4% and 60 monthly payments of $24.62 per $1,000 borrowed. For example, the total cost of a $10,000 loan is $14,775, including a $582 processing fee. The APR is calculated based on the 5-year rates offered over the last 1 month. There is no down payment and no prepayment penalty. Your APR is determined based on your creditworthiness, income and certain other information provided in your loan application. Not all applicants are admitted. If you accept your loan by 5:00 p.m. EST (excluding weekends or holidays), you will receive your money the next business day. Loans used to fund education-related expenses are subject to a 3-business day waiting period between loan acceptance and funding under federal law.
on the LendingPoint website
Best for bad credit installment loans with fast financing
The loan approval is not guaranteed. Actual loan quotes and loan amounts, terms and Annual Percentage Rate (“APR”) may vary based on LendingPoint’s proprietary rating and underwriting system’s assessment of your creditworthiness, financial condition, other factors and supporting documents or information provided by you. Depending on your country of residence, issuance or other fees ranging from 0% to 6% may apply. Following LendingPoint’s final underwriting approval to fund a loan, these funds are often sent via ACH the next business day outside of the holidays. LendingPoint offers loans ranging from $2,000 to $25,000 at rates ranging from 15.49% APR to a maximum of 34.99% APR with terms ranging from 24 to 48 months.
One Main Financial
on the OneMain Financial website
Best for secured or co-signed installment loans with bad credit
Not all applicants qualify for larger loan amounts or the most favorable loan terms. Credit approval and actual credit terms are dependent on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and the availability of collateral). Larger loan amounts require an initial lien in your name on a motor vehicle that is not older than ten years and has valid insurance and that corresponds to our value requirements. The maximum annual percentage rate (APR) is 35.99%, subject to government restrictions. The APR is generally higher for loans that are not secured by a vehicle. Depending on the state where you open your loan, the processing fee can be either a lump sum or a percentage of your loan amount. Flat fees vary by state and range from $25 to $300. Percentage fees vary by state and range from 1% to 10% of your loan amount, subject to certain state limits on fee levels. Active duty military personnel, their spouses or dependents covered by the Military Lending Act may not pledge a vehicle as collateral for a loan. Proceeds from the OneMain loan cannot be used for post-secondary education expenses as defined by CFPB Regulation Z, such as: B. College, university or vocational training expenses; for business or commercial purposes; buy securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are an existing customer, the minimum loan amount is $3,100. Ohio: $2,000. Virginia: $2,600. Borrowers (other than existing customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan where you do not have to provide the lender with any collateral (e.g. a motor vehicle).
The average score is 600 – 650
on NerdWallet’s secure website
Best for bad credit installment loans with no required credit history
This is an advertisement for a consumer loan subject to credit rating. Not available in CO, DC, GA, HI, IA, MA, MD, ME, NY and WV. Loans in AZ, CA, FL, ID, IL, MO, NJ, NM, TX, UT and WI are issued by Oportun Inc. Credit in California is granted pursuant to a California Finance Act license. NV Loans from Oportun, LLC. In all other states, loans are issued by MetaBank, NA, a member FDIC. Terms and conditions and government restrictions apply. Visit opportun.com for details.
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on NerdWallet’s secure website
SeedFi Borrow & Grow Personal Loans
Best for bad credit installment loans that help build savings