Compare the Best Personal Loans
200,000+ Americans have saved thousands of dollars with Approved Offers
HOW IT WORKS
Get your loan in three simple steps
No hidden fees, no commitments, just fast funding when you need it
Tell us your needs
See personalized options instantly
No SSN or credit check required
Compare offers
Live APRs & terms from top lenders
Choose your best option
Get funded
Complete quick e-sign process
Funds sent to your bank
Frequently Asked Questions About Personal Loans
What is a personal loan?
A personal loan is an unsecured loan that provides you with a lump sum of money, which you repay in fixed monthly installments over a set period. These loans can be used for various purposes, such as debt consolidation, home improvements, medical expenses, or major purchases.
How do personal loans work?
Once approved, you receive the loan amount in a single payment. You then repay the loan in equal monthly installments that cover both the principal and interest, over the agreed-upon term.
What can I use a personal loan for?
Personal loans are versatile and can be used for consolidating high-interest debts, funding home renovations, covering medical bills, financing weddings or vacations, and managing unexpected expenses.
How much can I borrow with a personal loan?
Loan amounts typically range from $1,000 to $100,000, depending on the lender, your creditworthiness, income, and debt-to-income ratio.
What is the typical interest rate on a personal loan?
Interest rates vary based on your credit score, income, and loan term. Generally, rates range from around 6% to 36% APR. Borrowers with excellent credit scores often qualify for lower rates.
Will applying for a personal loan affect my credit score?
Checking your rates through a prequalification process usually involves a soft credit inquiry, which doesn't impact your credit score. However, submitting a full application may result in a hard inquiry, which can temporarily lower your score by a few points.