This is a calculation done by Financer and does not reflect the real cost from Lending For Bad Credit. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from PersonalLoans.com. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Fast5KLoans. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Your Premier Lending. An individual credit assessment will be performed by the company.Calculating
Origination feeVaries by lender (usually between 1% and 6%)
Minimum age18
This is a calculation done by Financer and does not reflect the real cost from Low Credit Finance. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from ACE Cash Express. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from BadCreditLoans.com. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Honest Loans. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from Consumers Credit Union. An individual credit assessment will be performed by the company.Calculating
This is a calculation done by Financer and does not reflect the real cost from GetCash.com. An individual credit assessment will be performed by the company.Calculating
we can't guarantee the complete accuracy on a day-to-day
Filters
Loan amount
Loan purpose
Product Statistics
A complete breakdown of all data points across the products in this comparison to help you make the right decision.
Loan amount
$0 - $50,000 ($7,663.66)
Loan period
1 week - 183 months (27 months)
Annual interest rate
0% - 1,564% (159.82%)
Minimum age
18 - 18 (18)
Minimum income
$0 - $2,000 ($345.95)
National bank account
31 (83.8%)
National phone number
31 (83.8%)
Citizenship
24 (64.9%)
Electronic identification
29 (78.4%)
Accepts Bad Credit History
34 (91.9%)
Payout within 24 hours
31 (83.8%)
Weekend Payout
5 (13.5%)
Loan extensions
18 (48.6%)
Early payback
31 (83.8%)
Loan broker
13 (35.1%)
Interest-free first loan
0 (0%)
Cosigner possible
2 (5.4%)
Approval rate
80% - 90% (83.75%)
Revocation period
15 (40.5%)
High approval rate
0 (0%)
Statistics based on 37 Loans products in our database.
CompanyLowestHighest
Lending For Bad Credit5.99%35.99%
PersonalLoans.com5.99%35.99%
Fast5KLoans5.99%35.99%
Your Premier Lending5.99%35.99%
Low Credit Finance5.99%35.99%
ACE Cash Express91.52%630.13%
BadCreditLoans.com5.99%35.99%
Honest Loans5.99%35.99%
Consumers Credit Union8.99%24.79%
GetCash.com5.99%35.99%
MoneyKey249%295%
Jora Credit75%349%
5KFunds5.99%35.99%
Credit Clock5.99%35.99%
Explore Credit5.99%35.99%
Self Lender15.69%15.92%
CashNetUSA229%579%
Cash Store390%780%
Cash Advance15%1,564%
CreditFresh143%600%
Advance America143.29%688.28%
MoneyLion5.99%29.99%
MaxLend471.78%841.45%
Viva Payday Loans5.99%35.99%
CashUSA5.99%35.99%
LoansUnder365.99%35.99%
SecureSpeedyLoans5.99%35.99%
Loan in Personal5.99%35.99%
Wizzay.com5.9%35.99%
Speedy Cash199.99%729%
Spotloan99%490%
Fast Loan Advance5.99%35.99%
EarnIn0%0%
BMG Money19.99%35.99%
OppLoans99%195%
Plain Green Loans210%438%
Interest Rates
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Historical Unsecured personal loans Interest Rates
Average rates tracked monthly across 46 providers
Average rates tracked monthly across 46 providers
Average
Lowest
Highest
Aug 2025
152.51%
1.26%
1,646.58%
Sep 2025
154.93%
1.33%
1,667.75%
Oct 2025
156.62%
1.38%
1,682.54%
Nov 2025
157.02%
1.39%
1,685.99%
Dec 2025
155.84%
1.36%
1,675.65%
Jan 2026
153.15%
1.28%
1,652.17%
Feb 2026
149.37%
1.18%
1,619.09%
Mar 2026
145.14%
1.06%
1,582.11%
Apr 2026
141.21%
0.95%
1,547.77%
May 2026
138.27%
0.87%
1,522.06%
Jun 2026
136.78%
0.82%
1,509.02%
Jul 2026
136.88%
0.83%
1,509.89%
Aug 2026
143.07%
1%
1,564%
Current Average143.07%↑ 6.19pp
Lowest Available1%
Highest Available1,564%
Providers Tracked46
Financer's Choice
Top Rated
PersonalLoans.com
APR ranges 5.99%-35.89% with potential origination fees from lenders. As a marketplace, rates vary widely by credit score and chosen lender - competitive for bad credit borrowers.
Phone and email support Monday-Friday, 6am-7pm PST. Quick response times (few hours) but limited availability and marketplace model restricts loan-specific help.
Loan amounts from $250 to $35,000 with repayment terms from 61 days to 96 months. Transparent about marketplace model and lender requirements. Straightforward documentation process.
Users appreciate loan matching for bad credit access. Major complaints include aggressive post-application marketing and multiple credit inquiries from referral model.
Get exclusive conditions from the best financial companies
What Is an Unsecured Personal Loan?
An unsecured personal loan is a fixed-rate loan you can get without putting up any collateral. Unlike a secured loan that uses your home or car as a guarantee, unsecured loans rely entirely on your creditworthiness, income, and financial history.
These loans are sometimes called signature loans because your signature and promise to repay are all that backs the agreement. Most personal loans fall into this category, making them one of the most accessible borrowing options available.
As of 2026, unsecured personal loan rates range from 6.49% to 35.99% APR, with the average rate sitting around 12.15% for borrowers with a 700 FICO score. Loan amounts typically range from $1,000 to $100,000, depending on the lender and your credit profile.
How Unsecured Personal Loans Work
The process is straightforward. You apply with a lender, they review your financial profile, and if approved, you receive a lump sum deposited directly into your bank account. You then repay the loan in equal monthly installments over a fixed term.
Most online lenders offer a pre-qualification step that uses a soft credit pull. This lets you check estimated rates and terms without hurting your credit score. The hard inquiry only happens when you formally submit your application.
Here is what lenders evaluate when you apply:
Credit score and history - Most lenders require a minimum score of 580 to 670. Borrowers with scores above 740 get the lowest rates
Income and employment - Stable income shows you can handle the monthly payments. Lenders verify through pay stubs, tax returns, or bank statements
Debt-to-income ratio (DTI) - Lenders typically want your DTI below 36%, though some accept up to 50%. Your DTI is your total monthly debt payments divided by your gross monthly income
Credit utilization - How much of your available credit you are currently using. Lower utilization signals responsible borrowing
Common Uses for Unsecured Personal Loans
One of the biggest advantages of unsecured personal loans is flexibility. Unlike auto loans or mortgages, there are few restrictions on how you use the funds. The most common reasons people take out unsecured loans include:
Debt consolidation - Combine multiple high-interest debts into a single payment at a lower rate. This is the most popular use, accounting for roughly 35% of all personal loans
Home improvement - Fund renovations or repairs without tapping into home equity
Medical expenses - Cover unexpected healthcare costs or procedures not fully covered by insurance
Major purchases - Finance appliances, furniture, or other significant expenses
Wedding costs - Cover ceremony and reception expenses with predictable monthly payments
Emergency expenses - Handle unexpected financial needs like car repairs or urgent travel
Unsecured vs. Secured Loans: What Is the Difference?
The core difference is simple: secured loans require collateral, unsecured loans do not. This one distinction affects everything from interest rates to risk level to approval requirements.
With a secured loan, you pledge an asset like your home (mortgage) or car (auto loan) as backup. If you default, the lender can seize that asset. Because of this safety net, secured loans typically come with lower interest rates and higher borrowing limits.
Unsecured loans carry more risk for the lender since there is no asset to recover if you stop paying. That is why unsecured loans generally have higher interest rates and stricter credit requirements.
Feature
Unsecured Loans
Secured Loans
Collateral
Not required
Required (home, car, savings)
Typical APR Range
6.49% - 35.99%
3% - 15%
Loan Amounts
Up to $100,000
Up to $500,000+
Approval Speed
1 - 3 business days
1 - 6 weeks
Risk to Borrower
Credit damage, collections
Asset seizure + credit damage
Best For
Smaller amounts, no assets to pledge
Large amounts, homeowners
How to Qualify for an Unsecured Personal Loan
Getting approved for an unsecured personal loan depends on proving to the lender that you are a responsible borrower. Since there is no collateral backing the loan, your financial track record carries all the weight.
Here is what you need:
Steps to Get an Unsecured Personal Loan
Check Your Credit Score
Pull your free credit report from AnnualCreditReport.com. You need at least a 580 FICO score for most lenders, but a score of 670 or higher gives you the best shot at competitive rates. Scores above 740 unlock the lowest available APRs.
Calculate Your Debt-to-Income Ratio
Add up all your monthly debt payments (student loans, credit cards, auto loans) and divide by your gross monthly income. Most lenders want this number below 36%. Some will go up to 50%, but you will pay higher rates. Learn more about DTI ratios.
Compare Lenders and Pre-Qualify
Use the comparison tool above to see rates from multiple lenders at once. Pre-qualification uses a soft credit pull, so checking rates will not affect your score. Compare APRs, fees, loan amounts, and repayment terms side by side.
Gather Your Documents
Have your government-issued ID, proof of income (recent pay stubs or tax returns), bank statements, and Social Security number ready. Some lenders also ask for proof of address.
Submit Your Application
Apply with the lender offering the best terms. This triggers a hard credit inquiry, which may temporarily lower your score by a few points. Most online lenders deliver a decision within minutes and can fund your account in 1 to 3 business days.
Unsecured Personal Loan Interest Rates
Interest rates on unsecured personal loans vary widely based on your credit profile, the lender, and the loan terms. As of February 2026, here is what to expect:
By credit score range:
Excellent credit (740+): 6.49% - 12.49% APR
Good credit (670-739): 12.49% - 17.99% APR
Fair credit (580-669): 17.99% - 28.99% APR
Poor credit (below 580): 28.99% - 35.99% APR
By lender type:
Online lenders: 6.49% - 35.99% APR
Credit unions: Average 10.72% APR
Traditional banks: Average 12.06% APR
Credit unions often offer the best rates to members but may have stricter eligibility requirements. Online lenders tend to have the widest range and fastest approvals, making them popular for borrowers across the credit spectrum.
Advantages and Disadvantages of Unsecured Personal Loans
Unsecured personal loans fill an important gap in the lending market, but they are not the right choice for every situation. Here is an honest look at both sides.
Advantages
No risk of losing your home, car, or other assets if you cannot repay
Fast approval and funding, often within 1 to 3 business days
Fixed rates and predictable monthly payments make budgeting easy
Flexible use of funds for almost any purpose
Soft pull pre-qualification lets you check rates without credit impact
Can help build credit history through consistent on-time payments
Disadvantages
Higher interest rates compared to secured loans, especially for lower credit scores
Lower borrowing limits than secured options like home equity loans
Origination fees of 1% to 10% reduce the amount you actually receive
Missed payments hurt your credit score and can lead to collections
Stricter credit requirements make approval harder for some borrowers
Unsecured Loans for Bad Credit
Having a credit score below 670 does not automatically disqualify you from getting an unsecured personal loan. Several online lenders specialize in working with bad credit borrowers, though the terms will be less favorable.
With a lower credit score, expect:
Interest rates between 17.99% and 35.99% APR
Smaller loan amounts, typically $1,000 to $10,000
Shorter repayment terms of 1 to 3 years
Higher origination fees
Some lenders look beyond your credit score and consider factors like your education, employment history, and income trajectory. This "holistic" underwriting approach can benefit borrowers who have thin credit files or are rebuilding their credit.
Before applying, check if you qualify for personal loans with fair credit, as the rate difference between fair and bad credit tiers can save you hundreds of dollars in interest.
Alternatives to Unsecured Personal Loans
Depending on your situation, other borrowing options might offer better terms or a better fit:
Alternative
Best For
Typical APR
Secured personal loan
Borrowers with assets seeking lower rates
5% - 20%
Home equity loan / HELOC
Homeowners needing large amounts
7% - 12%
0% APR credit card
Smaller amounts you can pay off in 12-21 months
0% intro, then 18% - 29%
Credit union loan
Credit union members wanting low rates
7% - 18%
Debt consolidation loan
Combining multiple debts into one payment
6% - 36%
Personal line of credit
Ongoing access to funds as needed
8% - 25%
Each option has trade-offs. Home equity loans offer lower rates but put your house at risk. Credit cards provide flexibility but can lead to revolving debt at high rates. A personal line of credit works well for ongoing needs but usually has variable rates.
The right choice depends on how much you need, how quickly you can repay it, and what assets you are willing to put on the line.
Frequently Asked Questions About Unsecured Loans
What credit score do I need for an unsecured personal loan?
Most lenders require a minimum credit score of 580 to 670 for unsecured personal loans. However, you will need a score of 740 or higher to qualify for the best rates (as low as 6.49% APR). Borrowers with scores between 580 and 669 can still get approved but should expect higher interest rates.
How quickly can I get an unsecured personal loan?
Many online lenders offer same-day or next-day approval decisions. After approval, funds typically arrive in your bank account within 1 to 3 business days. Some lenders advertise same-day funding for applications completed early in the day. The entire process, from application to receiving funds, can take as little as 24 hours.
Can I get an unsecured loan with bad credit?
Yes, several lenders specialize in unsecured loans for borrowers with bad credit (scores below 670). Expect higher interest rates (17.99% to 35.99% APR), lower loan amounts (typically up to $10,000), and possibly shorter repayment terms. Comparing multiple lenders is important since rates vary significantly between providers.
Does applying for an unsecured loan hurt my credit score?
Pre-qualifying with most lenders uses a soft credit pull, which does not affect your score. The hard inquiry happens only when you formally submit a full application. This hard pull may temporarily lower your score by about 5 to 10 points. Multiple hard inquiries within a 14-day window for the same type of loan are usually counted as one inquiry by scoring models.
What is the maximum amount I can borrow with an unsecured personal loan?
Most lenders offer unsecured personal loans from $1,000 to $50,000. Some lenders, like those targeting borrowers with excellent credit, offer up to $100,000 or more. The amount you qualify for depends on your credit score, income, existing debt, and the specific lender's limits.
What is the difference between an unsecured loan and a personal loan?
Most personal loans are unsecured loans. The term "personal loan" describes the purpose (personal use rather than business or mortgage), while "unsecured" describes the structure (no collateral required). When people say "personal loan," they almost always mean an unsecured personal loan.
Unsecured personal loans remain one of the most straightforward ways to borrow money when you need it. The key is shopping around. Rates and terms vary significantly between lenders, and even a 1% difference in APR can save you hundreds over the life of a loan.
Use the comparison tool at the top of this page to check your rates from multiple lenders at once. Pre-qualification takes just minutes and will not impact your credit score.
