Getting a personal loan when you have low or fair credit scores is not easy. Most lenders prefer to work with borrowers who have a good payment history. However, there are credit union companies out there that can help you get the money you need. And we will show you how to get the best personal loans for bad credit.

To help you choose the best deal for you, we made a list of the top ten best personal loans for customers with low credit scores. Want to see who’s in it? Keep reading and find out!

Check out now our list with the ten best options!

To begin our list, Upstart is the top choice for anyone with low credit or nonexistent credit history. Its main perk is the fast deposit into your bank account if the required paperwork is done by 5 pm on business days. There are also no early payoff fees. 

However, it has high late fees, and the origination fee charged is withheld from the loan before it even makes it to your bank account. You’ll also need a social security number.

OneMain Financial offers easy approval for applicants with low or fair credit scores with ACH funding within one or two business days. There’s also a decent loan minimum of $1.500 for minor needs and the option to apply for a secured loan for lower rates. 

The disadvantages lie in a high origination fee and high interest rates. You can’t get an APR discount for autopay, and OneMain Financial doesn’t accept co-signers on the loan.

Avant Personal Loans accepts applicants with a credit score lower than 600. It also offers the possibility of a secured loan against the title of your car for lower interest rates. The funding is quick, often by the next day after signing the paperwork. And there is a 10-day grace period for late payments. 

Like most of the best personal loans for bad credit in this list, the cons are its origination fee and high interest rates (up to 35.99% in some cases). It’s also not the best solution for customers looking for debt consolidation since there is no direct payment to creditors. 

This personal loan agency provides a fast application with same-day approval for anyone with a minimum 580 credit score. Next-day funding is possible once the paperwork is verified and LendingPoint charges no early payoff fees. 

However, it offers no joint or co-signed loan, and this service is not available in all states. Its origination fees are high, up to 6%, and you must have a social security number to request the loan. 

This personal loan offers one of the lowest APRs for borrowers with bad credit. Customers can request anywhere between $2.000 and $50.000, with the money being funded as fast as one business day. TD Bank also provides the option of changing your payment dates.

Its main drawback is that the loan comes with a couple of restrictions, and the borrower cannot use it for business or education purposes. 

The purpose of requesting an Upgrade personal loan can be from debt consolidation to home improvements. It also offers a modest $1000 loan for smaller purchases, and the money is available for funding within the next day of approval. 

The many requirements make this loan a little hard to get for people who don’t have a 75 percent or less debt-to-income ratio or a minimum of 560 credit score. Its high origination fees might also be a deal-breaker for some. 

Lending Club allows you to increase your chances of approval by having a co-signer. Borrowers with fair credit are eligible for this loan, but anyone with less than a 600 credit score might want to look elsewhere for better rates. 

This loan charges an origination fee of up to 6%, and there is no autopay discount. 

Universal Credit personal loans require a minimum 560 credit score and at least two accounts on credit history. There is a rate discount with payments directly to creditors on debt conciliation. You can also get a 0.5% discount for autopay, and it is possible to change your payment date.

However, it has a high origination fee, and there are no joint, co-signed, or secured options available. 

Best Egg requires a minimum 600 credit score for a personal loan, with a borrower average of 700. Customers with fair or lower credit scores can apply, but in case of approval, the APR is higher. Homeowners are eligible for secured loans. 

The downside is that there’s no discount for autopay. And, like most of the best personal loans for bad credit suggestions so far, it also charges an origination fee. 

Prosper Borrowers require a few qualifications before considering the borrower’s request. The minimum 640 credit score makes this a hard-to-get loan for most people with fair or bad credit. However, you can still apply and take advantage of a joint loan if it’s approved. 

There is no rate discount for autopay, but the customer has the option to change their payment date if they need to.

And if you want to learn more about finances, check out our guide below, where we’ll explain to you the different types of fees when you apply for a loan!