What can I use a personal loan for?

Most lenders allow debt consolidation, home improvement, medical bills, emergencies, major purchases, moving and life events. Lenders generally prohibit using funds for college tuition, investing, gambling or illegal activity.

What credit score do I need for a personal loan?

It varies by lender. Many look for scores of 600 or higher, and the lowest rates usually require 720+. Income, debt-to-income ratio and credit history also matter.

Is pre-qualification a guarantee of approval?

No. Pre-qualification is an estimate based on a soft credit check and the information you provide. The lender makes the final decision after verifying your information in underwriting.

Can I pay off my loan early?

Most participating lenders don't charge prepayment penalties, but check your loan agreement before signing.

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Personal loans

Borrow with clarity. Pay it off with confidence.

Fixed-rate personal loans from $1,000 to $100,000 for whatever life brings — compared side by side so you get the best available offer.

Check my personal loan rate

Loans $1k–$100kTerms from 24 to 84 monthsNo prepayment penalties with most lenders

Home improvement

Upgrade your space without tapping your home equity.

Medical & emergencies

Cover unexpected bills with a predictable fixed payment.

Big purchases

Finance it at a fixed rate instead of a high-interest card.

Loan purposes

What people use personal loans for

Debt consolidation

Combine credit card balances into one fixed payment.

Home improvement

Repairs, renovations and upgrades — no home equity required.

Medical expenses

Procedures, dental work and bills not covered by insurance.

Emergencies

Car repairs, travel for family needs or other unexpected costs.

Major purchases

Appliances, furniture or other large one-time costs.

Life events

Moving, weddings, adoption and other milestones.

Lenders typically don’t allow personal loans for college tuition, investments, gambling or business use.

Choosing a repayment term: 24 to 84 months

A shorter term means a higher payment but less interest. A longer term lowers the payment but costs more overall. Illustrative: $10,000 at 14.99% APR.

Term	Monthly payment	Total interest	Total paid
24 months	$485	$1,636	$11,636
36 months	$347	$2,478	$12,478
48 months	$278	$3,356	$13,356
60 months	$238	$4,271	$14,271
84 months	$193	$6,205	$16,205

Example only; actual APR and available terms depend on the lender and your credit.

Eligibility criteria

Each lender sets its own requirements. Most look at:

Basic requirements

Age 18+ (19 in some states), U.S. citizen or permanent resident, valid bank account and verifiable identity.

Credit

Many lenders consider scores from about 600; the lowest rates typically require 720+ and a clean recent history.

Income & debt

Steady, verifiable income and a debt-to-income ratio that’s typically below 40%–50%, depending on the lender.

Pre-qualification vs. final underwriting

	Pre-qualification	Final underwriting
What it is	An estimate of your rate and amount	The lender’s official review and decision
Credit check	Soft inquiry — no score impact	Usually a hard inquiry
What’s verified	Information you report	Identity, income, employment and full credit report
Result	Estimated APR, payment and term	Final approval, rate and loan agreement
Can it change?	Yes — it’s not a commitment	Final terms are set when you sign

Frequently asked questions

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