Personal Loans from $1,000 to $50,000

Life can bring unexpected expenses. When it does, LendingTree can help you take charge of your finances with loans from $1,000 to $50,000.  

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What is a personal loan?

A personal loan is an unsecured loan that can be used to pay for almost anything, from consolidating debt to renovating your kitchen.

Unlike secured loans that require collateral, such as your car or house, a personal loan is backed only by your promise to repay the lender. To determine your eligibility as a borrower, lenders may look at your:

  • Credit score
  • Income
  • Other debts

A lender determines your interest rate based on your creditworthiness, the type of loan and the length of the loan. To get the best offers on a personal loan, borrowers should have a long history of on-time payment, steady income and a low debt-to-income ratio.

Personal loans are paid back in fixed monthly payments, typically over 12 to 144 months.

Calculate your monthly payments

What interest rates should I expect?

Since personal loans are unsecured, lenders rely heavily on your credit score to determine your interest rate. Borrowers with higher credit scores will see lower interest rates, while those with bad credit will pay the most for a loan — if they are approved at all.

See the average best interest rates by credit band offered to LendingTree users in this table:

Average Best Offered APRs by Credit Band
Credit band November 2019 october 2019 1 year earlier (november 2018)
760+ 10.15 9.89 9.62
720-759 12.82 12.54 12.39
680-719 18.50 18.24 18.52
640-679 24.69 24.93 25.87

See full Personal Loans Offers Report

Getting a personal loan at LendingTree is easy

1. COMPLETE THE FORM
Prequalify for personal loans by answering a few simple questions.

2. COMPARE LENDERS
If you qualify, see and choose from up to five lenders.

3. GET THE MONEY YOU NEED
You’ll save money in the long run when you comparison shop.

Here’s what our customers are saying

The Benefits

  • Fixed interest rates

    Generally, the interest rates are fixed, meaning they don’t change over the life of the loan. This can make it easy to budget for your payments later.

  • Fixed monthly payments

    Personal loans have a definite payment schedule, which means borrowers know exactly how long it’ll take to pay off what they owe, and balances can’t run up like they can on credit cards.

  • Could improve credit score

    Credit score issuers such as FICO like to see borrowers carry a mix of credit types. An unsecured loan could improve your score by adding another loan to your report.

    Don’t know your credit score? You can check it for free here.

  • No risk of repossession of property

    Signature loans are generally unsecured, which means you don’t have to put something of value up for collateral. If you can’t meet your repayment agreement later, your personal property isn’t at risk.

  • Funds can be used for a variety of reasons

    Most lenders will allow you to use your loan funds to pay for almost anything. So whether you need to consolidate your debt, pay off unexpected medical expenses or repair your home, these loans empower you to do so.

Common uses for a personal loan

Debt Consolidation

Consolidate high-interest debt. Move debt to a lower, fixed interest rate. Pay off debt in a set time frame.

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Debt Consolidation

Home Improvement

Pay for a new kitchen. Furnish your living room. Fix roof, install AC.

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Home Improvement

Car Repairs / Restoration

Get needed car repairs. Buy a new or used car. Quick funding available.

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Car Repairs / Restoration

Credit Card Consolidation

Streamline monthly payments. Pay off high-interest credit card debt with a lower, fixed rate. Can help pay off debt faster.

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Credit Card Consolidation

Small Expenses

Finance gaps in monthly budget. Finance a small business expansion. Take a vacation.

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Small Expenses

Large Purchases

Pay off debt over months or years. Finance a needed large purchase. Purchase expensive electronics or large appliances.

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Large Purchases

Wedding

Pay for an engagement ring. Fixed monthly payments can make budgeting easier. Allows you to focus on special day.

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Wedding

Medical Expenses

Provide time to pay off unexpected medical expenses. Lower interest payment. Less stress while paying off medical procedure.

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Medical Expenses

Moving Expenses

Cover costs without draining your savings. Ease financial burden associated with relocation. Quick funding available.

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Moving Expenses

Emergencies

Same-day funding available. Prevent cash flow problems. Cost-effective way to borrow.

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Emergencies

Frequently asked questions

To determine your risk as a borrower, lenders will analyze your credit score, your income and any other debts you have out in your name.

To make sure you get the best personal loan for your needs, you should also come prepared with the following information: the purpose of your loan, how much money you want to borrow and your preferred repayment schedule.

A personal loan typically ranges from $1,000 to $50,000 or more.

Some lenders offer fast application processing, which means same-day funding could be available.

Many lenders use a soft credit pull to give you estimated interest rates and loan terms that are available to you based on your credit, income and other factors. If you decide to move forward with the loan, the lender will do a hard credit inquiry. Too many hard inquiries in a given period could hurt your credit score; a soft credit pull won’t.

Check out LendingTree’s marketplace, where you can use filters to shop for the best rates and lowest fees. Make sure to do your homework before choosing the loan that is right for you. (Not all potential borrowers will qualify to see loan terms.)

If you have less-than-ideal credit, you may still qualify for a personal loan. The interest rates you’re offered will likely be higher, however, and the loan will cost more. Alternatively, you may be able to add a cosigner with good credit to your application to access more attractive rates.

Yes, but you may be subject to a prepayment penalty, which could be several months’ interest or a percentage of the remaining loan amount.

The lender relies heavily on your past financial history to make sure you are capable of repaying the loan. Documents that prove someone is capable of meeting loan agreements include proof of income and employment (such as pay stubs), bank account information and statements, and proof of other debt (such as mortgage or auto loan forms).

Interest rates indicate the amount charged by the lender to the borrower and is expressed as a percentage of the principal loan amount. But an annual percentage rate (APR) is a broader measure of the cost of borrowing based on interest, fees and loan terms, expressed as a percentage rate. Because of this, the APR can give a more accurate idea of how much the loan will cost in total.

If you have to miss a payment, take responsibility and speak to your lender about options. If you have a good payment track record with the lender, it may be willing to work with you to come up with a favorable solution.

However, if you default on your loan, lenders can take action that can hurt your credit and finances for years to come, including sending your loan to collections, reporting your default to credit bureaus and taking you to court. This could make getting new credit costly or impossible in the future.

Large and additional payments can be directly applied to your principal balance, decreasing the total cost and interest you pay. But you should always ask lenders about prepayment penalties, which are fees that could be applied if a loan is paid off ahead of the agreed-upon payment schedule.

No. LendingTree is a leading online loan marketplace that connects consumers to one of the largest networks of lenders in the nation. Lenders offer a variety of loan types, from mortgages to auto loans to unsecured loans.