$500 - $4,000. Quick Decisions. Terms up to 24 months!
(Additional verification and documents may be required before you get a decision and receive any funds)
Applying does NOT affect your FICO® credit score!
A personal loan is a type of installment loan with a fixed interest rate and fixed repayment terms. OppLoans personal loans are not secured by collateral, such as a car or your paycheck!
Financial institutions such as banks, credit unions, and online lenders issue personal loans. A typical personal loans will have terms and conditions that will establish the time period for loan repayment, the interest rate, and the monthly payment amount.
Every lender has different qualifications it uses to determine creditworthiness. Lenders assess your credit history, credit score, and income during the application process to decide whether or not you qualify for a loan. Approval times and loan amounts vary depending on the lender.
Personal loans can help borrowers reach their financial goals or cover an unexpected bill. For borrowers with bad credit, personal loans can have high interest rates and origination fees. It’s best to do your homework to find the best loan options for you!
Personal loans may also help build your credit history. Depending on your lender, making consistent on-time payments can boost your credit score. Missing payments or late payments would likely hurt your credit.
It is possible to qualify for a personal loan with bad credit. Some loan companies specialize in issuing loans to borrowers with bad credit and will let you pre-qualify to check rates. Compare rates to find the best lender and loan terms for your financial needs.
Borrowers can use personal loans for a variety of purposes including emergency expenses and debt consolidation. Paying for medical bills, home improvements, car repairs, and major life events are all common uses for personal loans.
Personal loans can be used for debt consolidation for debts such as credit cards, medical bills, and payday loans. Debt consolidation loans may give you lower loan payments so you can pay off debts faster and streamline payments.