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Thinking about taking out a $10,000 personal loan? You’re not alone. Many people use personal loans to tackle big expenses like debt consolidation, home improvements, medical bills, or even major purchases. The best part? You can use the funds for just about anything that fits your needs.
These days, getting a $10000 personal loan is easier than ever, thanks to the rise of online lenders. You no longer have to stand in long lines at the bank or fill out piles of paperwork. With just a few clicks, you can compare loan offers, check interest rates, and even get approved from the comfort of your home. This digital shift means you can quickly find the best rates and terms, making it simple to choose a loan that fits your budget and financial goals.
Avant is a popular online lender catering to borrowers with fair or bad credit.The application is quick and fully online, and funds can be available as soon as the next business day. While APRs are higher than some competitors, Avant’s flexible qualification standards and speed make it a solid choice for those needing fast cash or debt consolidation.
APR Rate: 9.95% – 35.99%
Loan Amounts: $2,000 – $35,000
Min. Credit Score: 550
Fees: Origination fee (Up to 9.99%)
Time to fund: As soon as the next business day
Late fee: $25
Prepayment penalty: None
successful payment fee: $15
LendingPoint is a solid choice for borrowers with fair or average credit. They use smart technology to look at more than just your credit score, making approval possible for more people. Their simple online application and customer support make borrowing straightforward, though fees and higher APRs for some applicants are worth noting.
APR Rate: 7.99% – 35.99%
Loan Amounts: $1,000 – $36,500
Loan Term (Years): 2 – 6
Min. Credit Score: 580–600
Fees: Origination fee (Up to 9.99%)
Prepayment penalty: None
Unsuccessful payment fee: $20
Check processing fee: Not specified
Do they allow a cosigner: No
Late fee: $30
Time to fund: As soon as one business day
Learn More: LendingPoint Full Review
Achieve is a reputable online lender known for helping borrowers consolidate debt or finance major expenses with fixed-rate personal loans. The application is straightforward and fully online, and Achieve offers unique rate discounts for adding a co-borrower, showing proof of retirement assets, or using direct pay for debt consolidation. Achieve is a good choice, especially for those who can qualify for these discounts.
APR Rate: 8.99% – 35.99%
Loan Amounts: $5,000 – $50,000
Loan Term (Years): 2 – 5
Min. Credit Score: Not publicly specified, but best rates require excellent credit
Origination fee: May apply (varies by applicant)
Check processing fee: Not specified
Do they allow a cosigner: Yes (co-borrower allowed)
Late fee: Not specified
Time to fund: Typically within a few business days
Prepayment penalty: None
Unsuccessful payment fee: Not specified
Learn More: Achieve Full Review
Oportun specializes in personal loans for borrowers with bad or no credit history, with no minimum credit score required and approval possible even after bankruptcy. It offers small loan amounts as an alternative to payday loans, reports payments to all three major credit bureaus to help build credit, and may charge origination fees, so it’s important to review your terms before accepting a loan.
APR Rate: Up to 35.99%
Loan Amounts: $300 – $18,500 (secured); $300+ (unsecured)
Loan Term (Years): Varies (typically up to 4)
Min. Credit Score: Not publicly specified, but best rates require excellent credit
Origination fee: Up to 10%
Check processing fee: Not specified
Do they allow a cosigner: No
Late fee: Not specified
Time to fund:Typically within 1–2 business days
Prepayment penalty: None
Unsuccessful payment fee: Not specified
OneMain Financial is a well-known lender for those with less-than-perfect credit, offering both secured and unsecured personal loans. Its straightforward application process and quick funding (sometimes within hours) make it appealing for borrowers who need money fast. While rates and fees can be high and vary by state.
APR Rate: 18.00% – 35.99%
Loan Amounts: $1,500 – $20,000
Loan Term (Years): 2 – 5
Min. Credit Score: Not specified (accepts fair/poor credit)
Origination fee: $25–$500 flat or 1%–10% of loan amount (varies by state)
Check processing fee: Not specified
Do they allow a cosigner: No
Late fee: $5–$30 or 1.5%–15% of payment (varies by state)
Time to fund: As soon as the same day
Prepayment penalty: None
Unsuccessful payment fee: Not specified
Best Egg is a well-known online lender offering quick, fixed-rate personal loans with a fully digital application and fast approvals. It stands out for its competitive rates for borrowers with good to excellent credit, flexible secured and unsecured loan options, and no prepayment penalties, allowing early payoff without extra cost. Best Egg’s streamlined process and direct payment option for debt consolidation make it a strong choice for those seeking convenience and flexibility.
APR Rate: 6.99% – 35.99%
Loan Amounts: $2,000 – $50,000
Loan Term (Years): 3 – 5
Min. Credit Score: 600 (recommended)
Origination fee: 0.99% – 9.99%
Check processing fee: $7
Do they allow a cosigner: No
Late fee: $15
Time to fund:Typically within 1–2 business days
Prepayment penalty: None
Unsuccessful payment fee: $15
Discover is a trusted lender offering fixed-rate personal loans with no origination, prepayment, or closing fees, making it a transparent choice for borrowers with good credit. The application is simple, funding can be fast, and borrowers benefit from flexible repayment terms and competitive rates, though no co-borrowers are allowed and a minimum credit score of 660 is required.
APR Rate: 7.99% – 24.99%
Loan Amounts: $2,500 – $40,000
Loan Term (Years): 3 – 7
Min. Credit Score:660+ (recommended)
Origination fee: None
Check processing fee: None
Do they allow a cosigner: No
Late fee: $39
Time to fund: As soon as the next business day
Prepayment penalty: None
Unsuccessful payment fee: $39
LightStream, a division of Truist Bank, offers personal loans with no fees, competitive rates, and flexible terms for borrowers with strong credit. Loans can be funded as soon as the same day, and amounts are available for a wide range of needs, including large expenses. LightStream stands out for its fast, fully online process and generous loan terms, making it ideal for those seeking convenience, flexibility, and low costs.
APR Rate: 7.49% – 25.99%
Loan Amounts: $5,000 – $100,000
Loan Term (Years): 2 – 7
Min. Credit Score: 660+ (recommended)
Origination fee: None
Check processing fee: None
Do they allow a cosigner: No
Late fee: None
Time to fund:Same day (if approved early)
Prepayment penalty: None
Unsuccessful payment fee: None
Upstart is an online lending platform that uses AI to consider factors like education and work history, making it easier for those with limited or fair credit to qualify. There’s no strict minimum credit score, most applicants receive an instant decision, and funds are typically available within one business day. While origination fees can be high, Upstart is a good option for fast, accessible loans if you don’t have perfect credit.
APR Rate: 6.6% – 35.99%
Loan Amounts: $1,000 – $50,000
Loan Term (Years): Up to 5
Min. Credit Score:Around 580 (varies)
Origination fee: 0% – 12%
Check processing fee: Not specified
Do they allow a cosigner: No
Late fee: $15 or 5% of payment amount
Time to fund: Usually 1 business day after approval
Prepayment penalty: None
Unsuccessful payment fee: Greater of $15 or 5% of late payment
How to Get a $10000 Personal Loan
Getting a $10,000 personal loan is easier when you follow a clear, step-by-step process. Here’s how you can secure the best Personal loan for your needs:
Check Your Credit Score
Start by reviewing your credit score. This helps you understand what loan offers you might qualify for and sets realistic expectations for interest rates.
Review Your Budget
Take a close look at your monthly income and expenses. Make sure you can comfortably afford the loan payments before borrowing.
Prequalify With Lenders
Use online platforms to prequalify with multiple lenders. This lets you see potential rates and terms without a hard credit check, so your score stays safe.
Compare Offers
Review all your prequalified offers side by side. Compare interest rates, loan terms, fees, and monthly payments to find the best fit for your financial goals.
Apply
Once you’ve chosen the best offer, complete the lender’s formal application. Be ready to provide documents like your ID, pay stubs, and bank statements.
Repay the Loan
After approval and receiving your funds, set up automatic payments or reminders to ensure you never miss a due date. On-time payments help build your credit and keep your loan on track.
Following these steps can make getting a $10,000 personal loan simple and stress-free.
Where To Get A $10000 Personal Loan
If you’re looking for a $10,000 loan, your existing bank or credit union might be a solid starting point, especially if you have a strong credit history. These traditional lenders often offer competitive rates and personalized service, which can be reassuring if you prefer face-to-face interactions. Prefer to skip the trip? Online lenders offer a convenient alternative, allowing you to apply for a personal loan right from home. Many online personal loan providers also have more flexible loan eligibility criteria, making them a great option if your credit is fair or still improving.To help you get started, we’ve listed some of the top personal loan lenders and lending platforms we recommend.
Can I Get a $10000 Personal Loan With Bad Credit?
Yes, you can get a $10,000 personal loan even if you have bad credit, but it may take a bit more effort. Lenders who work with bad credit borrowers look at more than just your credit score; they also consider your income, job stability, and your ability to repay the loan. To maximize your chances, try to improve your debt-to-income ratio or consider adding a cosigner, which can help you qualify for better rates.
When shopping for a loan, avoid sending applications to many lenders at once. Each application can lead to a hard inquiry, which might hurt your credit score and lower your approval odds. Instead, you may use an online platform that lets you fill out one application and receive multiple personalized loan offers without impacting your credit. This way, you can compare rates and terms from several lenders quickly and safely, making it easier to find the best $10,000 personal loan for your needs.
Need a $10000 Loan Urgently With No Credit Check?
If you need a $10,000 loan fast and are worried about your credit, online lending platforms can help you compare multiple loan offers in minutes. These sites let you fill out one simple form and see prequalified offers from different lenders, all without a hard credit check. This means your credit score won’t be affected just for shopping around. Prequalification gives you a clear idea of your rates, loan terms, and monthly payments before you commit.
It’s a smart way to find the best $10,000 personal loan for your needs, whether you have excellent credit or are rebuilding your score. By comparing options side by side, you can quickly spot the most affordable loan and avoid surprises.
Related: How To Get A Personal Loans With No Credit Check
What is the Monthly Payment on a $10000 Personal Loan?
Your monthly payment on a $10,000 personal loan depends on three main things: the interest rate, the loan term, and your credit score. For example, if you borrow $10,000 at a 6.99% interest rate for three years, your monthly payment will be about $300. Stretching the term to five years drops your payment to around $189, but you’ll pay much more in total interest over time.
No matter your rate or loan term, it’s smart to pay more than the minimum payment if you can. Making extra payments can save you hundreds in interest and help you pay off your loan faster. Just make sure your lender doesn’t charge an early payoff penalty, so you don’t end up paying extra for paying off your $10,000 personal loan ahead of schedule.
How Long Will It Take to Pay Off a $10,000 Personal Loan?
Most lenders offer personal loan terms of three to five years, though some may let you stretch payments out as long as twelve years. The term you choose has a big impact on your monthly payment and the total interest you’ll pay. Shorter terms mean higher payments but less interest overall, while longer terms lower your monthly bill but can nearly double your interest costs over time.
Finding the lowest possible interest rate is key to paying off your $10,000 personal loan faster and saving money. Average personal loan rates usually fall between 9% and 11%, but your exact rate depends on your credit score and where you live. Always compare offers from different lenders to make sure you’re getting a fair deal
What Does Your Credit Score Have to Be to Get a $10,000 Personal Loan?
Your credit score plays a big role in getting approved for a $10,000 personal loan. Most lenders look for a minimum credit score of around 580 to 660, though some banks and lenders may require a score of 700 or higher for the best rates. If your score is lower, you might still qualify, but you’ll likely pay a higher interest rate or need to look for lenders who specialize in bad credit loans.
But it’s not just about your credit score. Lenders also check your income, job history, and debt-to-income ratio to make sure you can afford the monthly payments. Here’s a quick breakdown of what lenders look for:
- Credit Score: Typically 580+ for fair credit, 700+ for the best rates
- Income: Steady income from a job or business
- Job History: Stable employment history is a plus
- Debt-to-Income Ratio: Lower ratios show you’re not overburdened by other debts
Checking your credit score before you apply can help you target the right lenders and improve your chances of getting approved for a $10,000 personal loan.
The Role of Cosigners in Improving Loan Approval Chances
Having a cosigner can make a big difference when you’re trying to get approved for a $10,000 personal loan, especially if your credit score isn’t great or your income is on the lower side. A cosigner is someone (often a trusted friend or family member) who agrees to take responsibility for the loan if you can’t make the payments. This extra layer of security reassures lenders, making them more likely to approve your application and sometimes even offer you a lower interest rate or a larger loan amount.
A cosigner can increase your chances of getting approved and help you qualify for better loan terms, making your personal loan more affordable and accessible. Just remember, both you and your cosigner are equally responsible for repaying the loan, so it’s important to have an honest conversation before moving forward.
What is a Good Interest Rate on a $10,000 Personal Loan?
A good interest rate on a $10,000 personal loan depends on your credit score and lender. In June 2025, average APRs are about 20.4% for excellent credit, 25.5% for good credit, and nearly 30% for fair or poor credit. Most lenders offer rates from 8% to 36%. Shop around to find the lowest rate for your profile.
How Credit Score and Lender Type Affect the Rate You’re Offered?
Your credit score and lender type have a big impact on the interest rate you’re offered for a $10,000 personal loan. Borrowers with excellent credit (750 and above) can get rates as low as 10%–12%, while those with fair or poor credit may see rates from 20% to 44%.
For example, in California, average rates are around 10.26%, but in some regions, rates can be even lower or higher depending on the lender and your financial profile. Always compare offers from banks, credit unions, and online lenders to find the best rate for your situation.
Lenders That Provide $10,000 Personal Loans for Bad Credit
If you have bad credit and need a $10,000 personal loan, you still have options. Some lenders are more flexible and willing to work with borrowers who have less-than-perfect credit scores. These lenders may consider your income, job history, and overall ability to repay.
Here are some lenders known for offering $10,000 personal loans to people with bad credit:
Avant: Specializes in personal loans for borrowers with fair to poor credit.
LendingPoint: Focuses on applicants with credit scores in the mid-500s and above.
Oportun: Offers personal loans with flexible requirements, often serving those with limited or no credit history.
Universal Credit: Caters to borrowers with lower credit scores, providing quick funding options.
OneMain Financial: Known for approving loans for bad credit and offering both secured and unsecured options.
Best Egg: Considers applicants with fair credit and offers competitive rates for those who qualify.
Upstart: Uses alternative data, such as education and employment, to help approve borrowers with limited or poor credit history.
Long-Term Costs Associated With a $10,000 Loan
The total cost of a $10,000 personal loan depends on the annual percentage rate (APR) and the length of your loan term. A lower APR and shorter term mean you’ll pay less in interest, while a higher APR or longer term increases your total repayment.
For example, a 3-year loan at a lower rate will have higher monthly payments but save you money in the long run, while a 5-year loan lowers your monthly bill but increases the total interest paid.
Below is a table showing how APR and loan term can affect your total interest and monthly payments for a $10,000 personal loan:
| Credit Score Range | Average APR (%) | 3-Year Term Monthly Payment / Total Interest | 5-Year Term Monthly Payment / Total Interest |
|---|---|---|---|
| Excellent (750+) | 10% | $323 / $1,628 | $212 / $2,735 |
| Good (700–749) | 15% | $347 / $2,484 | $238 / $4,278 |
| Fair (640–699) | 25% | $398 / $4,335 | $294 / $7,648 |
| Poor (<640) | 30%+ | $427 / $5,362 | $323 / $9,380 |
Note: These are example scenarios; actual rates and payments may vary by lender and location.
Tips for Getting Approved and Saving Money
Improve Your Debt-to-Income Ratio
Lenders love to see that you’re not stretched too thin. Try paying down credit cards or other debts before applying for a $10,000 personal loan. The lower your monthly debt compared to your income, the better your approval odds and the more attractive your interest rate.
Add a Cosigner or Consider a Secured Loan
If your credit isn’t perfect, adding a cosigner with strong credit can boost your chances of approval and help you qualify for better rates. Alternatively, offering collateral for a secured personal loan can make lenders more comfortable and may unlock lower rates.
Avoid Common Pitfalls
Don’t apply for too many loans at once. Multiple hard credit checks can lower your score. Always read the fine print for fees, penalties, and early payoff restrictions. Compare several offers to find the best one.
Getting a $10,000 personal loan is possible for most borrowers, even with less-than-perfect credit. Focus on improving your debt-to-income ratio, consider a cosigner or secured loan, and always compare offers. Remember, the best loan is one you can afford and understand.
Ready to take the next step? Compare $10,000 personal loan offers today and read the fine print before you commit – your financial future deserves it.
FAQs About $10,000 Personal Loans
Q1. What credit score do I need to get a $10,000 personal loan?
Ans: To qualify for a $10,000 personal loan, most lenders require a minimum credit score between 610 and 640, though some may consider applicants with scores as low as 580. Higher credit scores improve your chances of approval and help secure better interest rates and loan terms.
Q2. What is a good interest rate for a $10,000 personal loan?
Ans: A good interest rate for a $10,000 personal loan generally ranges from 6% to 12% APR for borrowers with good to excellent credit. For fair credit, rates often fall between 13% and 20%, while those with bad credit may see rates from 20% up to 36% or higher. Always compare offers.
Q3. Can I use a $10000 personal loan for any purpose?
Ans: Yes, you can use a $10000 personal loan for almost any personal expense, including debt consolidation, home improvements, medical bills, weddings, or major purchases. Most lenders do not allow personal loans to be used for business investments, college tuition, or home down payments. Always check your lender’s specific restrictions before applying.
Q4. What fees and charges should I expect with a $10,000 personal loan?
Ans: Expect to pay origination fees (typically 1%–5% of the loan amount), late payment fees, and sometimes prepayment penalties with a $10,000 personal loan. Some lenders, like American Express and Wells Fargo, offer loans with no origination or prepayment fees. Always review the fee schedule before accepting a loan offer.
Q5. How can I reduce the total cost of my $10,000 personal loan?
Ans: To reduce the total cost of your $10000 personal loan, improve your credit score, compare offers from multiple lenders, and choose the shortest loan term you can afford. Look for loans with no origination or prepayment fees, and set up automatic payments to avoid late fees.
Meet the expert:
Yasmeen Khan
Yasmeen Khan
is a senior writer and editor at LendingPalm. She has more than 4 years of experience in finance and is an expert on personal loans.
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