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Best Bad Credit Personal Loans of May 2024
Explore top picks for bad credit loans to help get you back on track. Compare interest rates, fees, loan terms and lender eligibility before deciding if a personal loan is right for you given poor credit.
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 What Stands OutBest for Bad Credit Loan Size Offered$1K to $50K Interest Rate (APR)7.8% to 35.99% Minimum Credit Score300 |
 What Stands OutBest Discounts Loan Size Offered$1 to $50K Interest Rate (APR)8.49% to 35.99% Minimum Credit Score620 |
 What Stands OutGood for Secured Loans Loan Size Offered$2k to $35K Interest Rate (APR)9.95% to 35.99% Minimum Credit Score580 |
 What Stands OutTop Choice Loan Size Offered$1K to $50K Interest Rate (APR)11.69% to 35.99% Minimum Credit ScoreN/A |
 What Stands OutBest for Physical Locations Loan Size Offered$1.5K to $20K Interest Rate (APR)18% to 35.99% Minimum Credit ScoreN/A |
What Are Personal Loans for Bad Credit?
Personal loans for bad credit are made available for borrowers with poor credit scores of around 579 or lower. It’s harder to qualify for a loan, especially an unsecured personal loan, when you have bad credit.
There are two main types of personal loans: secured and unsecured. Secured loans are backed by collateral, which the lender can seize if the borrower fails to pay on the loan. Unsecured loans do not require collateral. Borrowers with bad credit can still qualify for a personal loan but will likely end up paying a higher interest rate, more fees or both.
5 Best Loans for Bad Credit
- Upstart: Our top pick
- Upgrade: Best discounts
- Avant: Best for customer service
- Universal Credit: Best for fast approval
- OneMain Financial: Best for physical locations
