Best personal loans for fair credit of June 2026

Personal loans can be used for a variety of expenses, including vacations, home repairs, weddings and to cover emergencies.

Generally, the better your credit score, the more favorable your loan terms but there are still lenders who will work with borrowers with fair credit (FICO Score 580 to 669) or good credit (670 to 739).

To find the best lenders, we considered numerous factors, including interest rates, fees, loan limits, term lengths, discounts, customer service and how fast funds are disbursed. For more on how we made this list, check our methodology.

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Who's this for? Upstart allows borrowers to apply for up to $50,000 with a minimum credit score requirement of 300 (or no credit history at all). Keep in mind that if you are approved, you may be subject to a higher interest rate.

Standout benefits: While there are no penalties for paying off your balance early, Upstart does charge an origination fee (up to 12% of the amount you borrow) and late fees ($15 or 5% of the past due balance, whichever is greater). When it comes to repayment terms, loan terms range from 36 to 60 months, which can be appealing to borrowers who may need a longer time horizon to repay the loan.

Who's this for? If you need funding in a pinch, Avant can typically provide it as soon as the next business day after you've been approved. The lender also offers personal loans ranging from $2,000 to $35,000.

Standout benefits: Avant will consider applicants with credit scores under 600. While there are no penalties for early payoff, there is an origination fee of up to 4.75% and a late fee of up to $25 after the 10-day grace period.

Before you decide to apply for this loan, you can see if you pre-qualify for a rate that's on the lower end of the APR range. By prequalifying, you can make sure you'll get approved without hurting your credit score.

Who's this for? Happy Money offers personal loan amounts between $5,000 and $40,000, and interest rates that are a bit lower than other lenders on this list, ranging from 7.95% to 29.99%. Borrowers must have a credit score of at least 600.

Standout benefits: There are no application fees or prepayment fees, but there is an origination fee of up to 5%. Some of Happy Money's additional qualification requirements are a little stricter than those of other lenders on this list. For example, you must also have at least three years of good credit history with at least two open lines of credit in good standing.

Also, you can only use a Happy Money loan to consolidate debt — you won't be able to use a loan from this lender for a repair, an emergency expense or a wedding, for example. Repayment terms range from 36 to 60 months.

Who's this for? OneMain Financial offers loan options that are much less rigid compared to other lenders. Borrowers can take advantage of repayment terms between 24 months and 60 months.

Standout benefits: OneMain Financial also allows borrowers the option to secure the loan with collateral in order to potentially receive an even lower interest rate. Plus, borrowers can actually choose the date their monthly payments are due and provide the option to apply with a co-applicant.

The origination fee is on the higher end: either a fixed fee between $25 and $500 or up to 10% of the loan amount, depending on which state you live in. And while there aren't any penalties for paying off the loan early, there is a late fee that will run you $30 or up to 15% (depending on your state).

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every personal loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

Applying for a personal loan is typically a fairly straightforward process with a quick turnaround (1–3 days). But in order to improve the likelihood that you'll be approved for the loan, you may need a couple of things:

• Strong credit score: Many lenders consider a minimum credit score 580; some actually require a minimum score of 620. However, applying with healthier credit not only makes you a more appealing applicant, but it can also land you some of the better interest rates available.
• Co-signer: If your credit history is insufficient or poor, applying with a co-signer improves your chances of getting approved.
• Low debt-to-income ratio: Keep your debt-to-income (DTI) ratio below 36%.

Some of the easiest personal loans to get approved for are lenders that consider applicants with low or no credit score. Again, though, applying with a low credit score means you'll likely receive some of the highest interest rates.

Payday loans are also generally easy to get approved for, however, they should be an absolute last resort since payday loans work out to six-figure interest rates, making it difficult to pay off even small amounts of money quickly.

To determine which personal loans are the best, CNBC Select analyzed dozens of U.S. personal loans offered by both online and brick-and-mortar banks, including large credit unions, that come with no origination or signup fees, fixed-rate APRs and flexible loan amounts and terms to suit an array of financing needs.

When narrowing down and ranking the best personal loans for fair credit, we focused on the following features:

• Fixed-rate APR: Variable rates can go up and down over the lifetime of your loan. With a fixed rate APR, you lock in an interest rate for the duration of the loan's term, which means your monthly payment won't vary, making your budget easier to plan.
• Flexible minimum and maximum loan amounts/terms: Each lender provides a variety of financing options that you can customize based on your monthly budget and how long you need to pay back your loan.
• No early payoff penalties: The lenders on our list do not charge borrowers for paying off loans early.
• Streamlined application process: We considered whether lenders offered same-day approval decisions and a fast online application process. 
• Customer support: Every loan on our list provides customer service available via telephone, email or secure online messaging. We also opted for lenders with an online resource hub or advice center to help you educate yourself about the personal loan process and your finances.
• Fund disbursement: The loans on our list deliver funds promptly through either electronic wire transfer to your checking account or in the form of a paper check. Some lenders (which we noted) offer the ability to pay your creditors directly.
• Autopay discounts: We noted the lenders that reward you for enrolling in autopay by lowering your APR by 0.25% to 0.5%.
• Creditor payment limits and loan sizes: The above lenders provide loans in an array of sizes, from $500 to $100,000. Each lender advertises its respective payment limits and loan sizes, and completing a preapproval process can give you an idea of what your interest rate and monthly payment would be for such an amount.

After reviewing the above features, we sorted our recommendations by best for low or no credit history, best for quick funding, best for lower interest rates and best for flexible terms.

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