What credit score do I need for a personal loan?

Most personal loan lenders require a minimum credit score of 580–640. For the best rates, aim for a score of 700 or higher. Some lenders like Upstart also consider education and employment history, making loans accessible to borrowers with limited credit history.

How much can I borrow with a personal loan?

Personal loan amounts typically range from $1,000 to $50,000, though some lenders offer up to $100,000. The amount you qualify for depends on your income, credit score, and debt-to-income ratio.

What is the average personal loan interest rate?

As of 2026, average personal loan APRs range from 8% to 36%. Borrowers with excellent credit (750+) often qualify for rates below 12%, while those with fair credit may see rates of 20% or higher.

How long does it take to get a personal loan?

Many online lenders offer same-day or next-day funding after approval. Traditional banks may take 3–7 business days. The fastest lenders can deposit funds within hours of approval.

Can I use a personal loan to consolidate debt?

Yes. Debt consolidation is one of the most common uses for personal loans. By combining multiple high-interest debts into a single lower-rate loan, you can simplify payments and potentially save thousands in interest.

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Last Updated: May 2026

Everything you need to find, compare, and pay off personal loans — from bad credit options to debt consolidation strategies.

Last reviewed: April 2026

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