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Easiest Personal Loans To Get: From 6.60% APR
Compare the Easiest Personal Loans To Get
| COMPANY | FORBES ADVISOR RATING | MINIMUM CREDIT SCORE | APR RANGE | LEARN MORE |
|---|---|---|---|---|
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580
|
7.74% to 35.99%
|
Via Credible.com’s Website
| |
|
600
|
6.53% to 35.99%
|
Via Credible.com’s Website
| |
|
|
300
|
6.20% to 35.99%
|
Compare rates from participating lenders via Forbes Advisor
| |
|
|
600
|
7.99% to 35.99% with autopay
|
Via Credible.com’s Website
| |
|
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580
|
9.95% to 35.99%
|
Via Credible.com’s Website
| |
|
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OneMain Financial does not disclose this information
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11.99% to 35.99%
|
Via Credible.com’s Website
|
Easiest Personal Loans To Get: A Closer Look
Best Easy Loan for Co-borrowed Loans
Upgrade
Minimum Credit Score
580
APR range
7.74% to 35.99%
Loan amounts
$1,000 to $50,000
580
7.74% to 35.99%
$1,000 to $50,000
As an online lender, Upgrade offers a convenient application process and loans accessible to borrowers who want to apply with another person.
Why We Like It
Upgrade’s borrower requirements are more accessible than many lenders, with a minimum credit score requirement of 580, no income requirement and the ability to file a joint application.
What We Don’t Like
Interest rates start at 7.74%, but extend up to 35.99% and origination fees range from 1.85% to 9.99%.
Who It’s Best For
Upgrade personal loans are best for consumers who want to qualify for more money or a more competitive interest rate by applying with a co-applicant.
- Direct payment to creditors streamlines the consolidation process
- 24/7 live chat customer support available
- Offers both co-signer and co-borrower options
- Extended repayment terms of up to 7 years
- Charges origination fees on consolidation loans
- High maximum loan APR (35.99%)
- Average 3-day funding timeline
- Minimum credit score of 580 required
Best Easy Loan for Debt Consolidation
LendingClub
Minimum Credit Score
600
APR range
6.53% to 35.99%
Loan amounts
$1,000 to $60,000
600
6.53% to 35.99%
$1,000 to $60,000
LendingClub makes debt consolidation easier by offering a balance transfer loan with direct payment to third-party lenders and easier qualification requirements.
Why We Like It
LendingClub doesn’t have a minimum credit requirement and offers debt consolidation loans up to $60,000.
What We Don’t Like
LendingClub’s loan terms are limited to two to seven years, which is less flexible than some top lenders. The company also charges an origination fee of 0% to 8% of the loan amount.
Who It’s Best For
LendingClub’s personal loans are best for borrowers who want to streamline their finances by consolidating high-interest credit card debt through a lender that pays their creditors directly.
- Low minimum APR compared to the alternatives (6.53%)
- Offers direct payment to creditors
- Offers a co-borrower option
- Live chat support is available
- Charges origination fees
- Higher maximum APR (35.99%)
- Lower maximum loan amount ($60,000)
- No autopay discount available
Loan details
Co-signer/co-borrower: Allows co-borrowers
*For borrower or co-borrower
Best Easy Loan for Limited Credit History
Upstart
Minimum Credit Score
300
APR range
6.20% to 35.99%
Loan amounts
$1,000 to $75,000
300
6.20% to 35.99%
$1,000 to $75,000
Upstart uses an artificial intelligence- and machine learning-based approach to evaluate borrower applications.
Why We Like It
Upstart makes its loan available to a wide range of borrowers, as it has a minimum credit requirement of 300 and will work with borrowers who lack the credit history to have a credit score.
What We Don’t Like
Upstart’s three- or five-years loan terms are more limited than some other options.
Who It’s Best For
Upstart’s personal loans are best for borrowers with limited, or poor, credit histories who can qualify for a loan based on income or education.
- Lowest minimum credit score (300)
- Approval process considers factors like education and employment
- Loan amounts up to $1,000 to $75,000
- Fast average funding (3 days)
- Longer minimum loan term (36 months and 60 months)
- Origination fees apply
- iPhone-only mobile app
- No autopay discount available
Lender details
Eligibility
- Minimum credit score: 300
- Co-signers/co-borrowers: Not accepted
Funding Speed
Next-day funding may be available if you accept a loan before 5 p.m. ET on a business day.
Best Easy Loan for Long Terms
LendingPoint
Minimum Credit Score
600
APR range
7.99% to 35.99%
with autopay
Loan amounts
$1,000 to $36,500
600
7.99% to 35.99%
with autopay
$1,000 to $36,500
LendingPoint is an online lender offering personal loans with repayment terms up to six years.
Why We Like It
LendingPoint has a minimum credit score requirement of 600 and repayment terms ranging from 24 to 60 months—or two to five years.
What We Don’t Like
LendingPoint’s loan amounts are more restrictive than some lenders, with borrowing limits capped at $36,500. The lender also charges origination fees up to 10% of the loan amount, depending on the borrower’s state.
Who It’s Best For
LendingPoint’s personal loans are best for fair-credit borrowers who prefer having access to extended loan terms over large loans and competitive interest rates.
- Funding as soon as the next business day
- Low credit score requirement
- No prepayment penalty
- Origination fee up to 10%
- Co-signers or joint loans not permitted
- Not available in Nevada or West Virginia
Eligibility:
- Minimum credit score. 600
- Minimum annual income. $35,000
- Co-signers. Not permitted
Customer service
After testing and evaluating LendingPoint’s customer service, we found it to be one of the most helpful and transparent lenders on our list after waiting only 46 seconds to be connected to a representative. The customer service representative we spoke with shared an in-depth perspective of their loan offers, including information about loan amounts, eligibility requirements, how interest rates are determined and prequalification.
LendingPoint’s team also disclosed late fees but didn’t confirm origination fees. While customer service didn’t share this information wasn’t, the lender discloses a fee of up to 10% on its website. LendingPoint was also one of few lenders that shared how they report payments to credit bureaus, which it typically does at the start of the month.
Best Easy Loan for Quick Funding
Avant
Minimum Credit Score
580
APR range
9.95% to 35.99%
Loan amounts
$1,000 to $40,000
580
9.95% to 35.99%
$1,000 to $40,000
Avant offers personal loans between $1,000 to $40,000 with funding as soon as the next business day.
Why We Like It
Avant’s personal loans are accessible to borrowers with a minimum credit score of just 580—lower than many lenders require. Borrowers also benefit from fast funding speeds and repayment terms up to 60 months.
What We Don’t Like
Avant’s personal loans come with interest rates as high as 35.99% and an administration fee of up to 9.99%.
Who It’s Best For
Avant is best for consumers who need to quickly borrow up to $35,000 with less-than-stellar credit.
- Fast two-day average funding time
- No origination fees
- Mobile app for both iOS and Android
- Prequalification available
- Not available in all states
- Charges late payment fees
- No co-signer option
Eligibility
- Minimum credit score: 580
- Co-applicants: Not accepted
- Direct pays third-party creditors: No
Best Easy Loan for Small Amounts
OneMain Financial
Minimum Credit Score
OneMain Financial does not disclose this information
APR range
11.99% to 35.99%
Loan amounts
$1,500 to $30,000
OneMain Financial does not disclose this information
11.99% to 35.99%
$1,500 to $30,000
OneMain Financial’s personal loans start at just $1,500 and max out at $30,000, with repayment terms ranging from 24 to 60 months.
Why We Like It
OneMain Financial’s small loan amounts mean consumers are less likely to borrow more than they need.
What We Don’t Like
OneMain Financial’s interest rates start at 11.99%—much higher than rates available through competitors. Borrowers must also pay an origination fee between 1% to 10% of the loan amount or a flat fee of $25 to $500.
Who It’s Best For
OneMain Financial personal loans may be a good option for less-qualified borrowers who need fast access to small loan amounts.
- Designed for borrowers with low credit scores
- Offers secured loan options
- Evaluates entire credit and income history instead of credit score
- Limits only up to $20,000
- Can’t be used for business purposes
- Charges high APRs
Eligibility:
- Minimum credit score required. No minimum credit score requirement
- Minimum annual income. No minimum income requirement
- Co-borrowers. Not permitted
- Co-signers. Permitted
How To Compare the Easiest Personal Loans To Get
Consider these tips when comparing the easiest personal loans to get:
- Look at their requirements beforehand. Before you start filling out loan applications, review the lender’s credit and income requirements to see if you’re a good candidate. Some lenders post their requirements publicly on their websites. If you don’t see it listed, you can contact customer service and ask for the requirements through email, over the phone or through live chat.
- Know how much you need to borrow. Many lenders have strict minimum and maximum loan limits. Before you apply for a loan, it’s important to understand if the amount you need to borrow fits within the lender’s limits.
- Compare fees and APRs. The loan APR is the interest rate plus certain fees you could be charged. Always make sure to compare lender APRs and not just interest rates, and make sure you check for any additional fees that aren’t included in the APRs.
- Figure out how much you can afford to repay. When you apply for a personal loan, the lender typically offers a variety of repayment terms to choose from. Longer repayment terms have lower monthly payments and typically come with higher interest rates, while shorter repayment terms have higher monthly payments and typically come with lower interest rates. Decide what monthly payment you can afford and choose a repayment term based on that amount.
What Makes a Personal Loan Easy To Get?
Personal loans are easy to get when they have flexible credit score and income requirements. While the best personal loan lenders often have high credit score requirements, usually between 600 and 680, some accept scores as low as 560.
Qualifying will be significantly easier if you can find a lender with a lower credit score threshold that specializes in working with borrowers who have damaged credit.
More often than not, online lenders have less stringent qualification requirements compared to traditional lenders like banks and credit unions. If you know you have damaged credit, you’ll likely have more luck applying for a personal loan through an online lender.
It’s important to note, though, that online lenders that cater to applicants with poor credit typically charge higher interest rates. Instead of trying to get the most competitive rates available, find a lender that can serve your specific financial situation and needs.
Pros and Cons of Easy Personal Loans
Easy personal loans are a popular option for consumers who need fast access to funds but who may not qualify elsewhere. Whether it’s to cover unexpected expenses, consolidate debt or finance a major purchase, easy personal loans offer convenience and flexibility.
However, like any financial product, these loans come with advantages and disadvantages, and they’re not a good fit for every borrower.
| PROS | CONS |
|---|---|
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Easier to qualify for than other loans
|
High interest rates
|
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Fast funding times
|
Many loans come with fees
|
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Funds can be used for a variety of expenses
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May lead to a cycle of borrowing
|
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Streamlined application process
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Late payments can negatively affect credit scores
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How To Get an Easy Personal Loan
While the process varies by lender, follow these general steps to apply for an easy personal loan:
- Check your credit score. It’s best to know your credit score before you apply for a loan. You can often find your score through your bank or credit card provider or through a free site that offers credit scores. Understanding your score can point you in the direction of a lender that can serve you best.
- Take time to boost your score, if possible. If your credit score is below the minimum threshold, take time to improve your score, if you don’t need funds right away. To start, make sure there are no errors on your credit report and pay down any existing debt balances.
- Determine what you can afford to pay. You should understand what monthly payment you can afford before you apply for a loan. Go through your current expenses and income to calculate what you can manage. That will help you avoid taking out a loan that you can’t pay back.
- Prequalify with multiple lenders. Some lenders offer a prequalification process that lets you see what terms you may receive—if you’re eligible—without hurting your credit score. Prequalifying with multiple lenders is the easiest way to find the best offer for your specific situation.
- Submit your application. Once you find and choose a lender that works for you, fill out the formal application. To complete the application form, you’ll have to provide your birth date, contact information, Social Security number (SSN), employment information and other relevant details.
5 Alternatives to Easy Approval Loans
Consider these alternatives if an easy personal loan doesn’t seem like the right fit for you.
1. Crowdfunding
If you need money and don’t qualify for a personal loan, you might want to consider a crowdfunding site like GoFundMe or Kickstarter. These sites let you raise money for almost any purpose—typically at the cost of a small fee. People often use these sites to raise money for business ventures, medical bills, pet expenses and household emergencies.
The money raised in a crowdfunding campaign does not have to be repaid. However, it’s hard to predict how much you can raise and how quickly.
2. Payday Alternative Loan
A payday alternative loan (PAL) is a personal loan from a federal credit union. The interest rate on a PAL is similar to a personal loan, maxing out at 28%. You can borrow up to $2,000. Terms range from one to 12 months.
The credit score requirements for a PAL are more flexible than traditional personal loans, but you must be a member of the federal credit union for one month to become eligible for a PAL. That can be a problem if you need money quickly.
3. Peer-to-Peer Lending
Peer-to-peer (P2P) lending platforms connect borrowers with individual investors willing to lend to consumers. By eliminating more traditional financial institutions, these platforms can help you get a loan with less restrictive qualification requirements and more competitive interest rates.
4. Payment Plan
Depending on why you need to borrow money, you may be able to use a buy now, pay later plan or other financing offered by the service provider. This alternative may be available for medical bills, home repairs and certain large purchases. Depending on your qualifications, you may pay little to no interest while covering the expense in manageable installments.
5. Borrowing From Friends or Family
Though not a formal lending method, borrowing from friends or family may be a viable alternative to easy approval loans. You won’t have to meet a lender’s qualifications or borrow more than you need. Still, treat these as formal borrowing agreements, and ensure everyone understands the terms and repayment schedules.
Methodology
We reviewed 31 popular lenders based on 14 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose lenders that have a minimum credit score requirement of 600 or lower and ranked them based on the weighting assigned to each category:
- Eligibility and accessibility. 30%
- Loan cost. 25%
- Loan details. 20%
- Customer experience. 15%
- Application process. 10%
Within each category, we also considered several characteristics, including loan amounts, repayment terms, APR ranges and applicable fees. We also looked at whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Personal Loans Rating & Review Methodology.
Frequently Asked Questions (FAQs)
Can I get a personal loan without proof of income?
If you don’t have any income, you’ll find it much more difficult to qualify for a personal loan. Proof of income is important to lenders. If you have low income, unstable income or no income at all, you’ll likely need a co-signer or co-borrower to qualify for a personal loan.
What credit score do I need for an easy personal loan?
Credit score requirements vary among lenders, but in general, the minimum credit score necessary to get a personal loan is between 580 and 600.
Is a personal loan easy to get with bad credit?
Credit scores are a crucial factor when applying for a personal loan. If you have bad credit, you’ll find it more challenging to get a personal loan. Fortunately, there are lenders who cater to borrowers with bad credit. If you don’t qualify for an easy personal loan, take time to improve your score before reapplying.
Can I get a personal loan with a 500 credit score?
It is possible to get a personal loan with a 500 credit score, but you’ll likely have fewer options than more creditworthy applicants. These personal loans may also come with higher interest rates and you may have to pledge collateral to secure the loan. If you’re unable to get a personal loan with a 500 credit score, consider a credit union or online lender that caters to borrowers with low and thin credit.
Can you pay off a personal loan early?
You can pay off a personal loan early, but some lenders impose prepayment penalties to help offset the lost revenue from interest payments. This fee typically ranges from 1% to 5% of the outstanding loan balance when the loan is paid off, but it may also be a flat fee. Many of the best personal loan providers do not charge prepayment penalties.