You can get a personal loan for the first time with no credit history from a bank, credit union or online loan company. The best personal loans for first-timers with no credit are available through Upstart because the loans have dollar amounts of $1,000 - $50,000 and a typical APR range of 5.35% - 35.99%.
Personal loans for people with no credit often provide up to a few thousand dollars in funding, and may have high rates and fees. Some companies won’t check your credit at all, while others do check your credit but are open to people with no credit history.
Best Personal Loans for First-Timers with No Credit
- Upstart: Loan amounts of $1,000 - $50,000. APRs of 5.35% - 35.99% typically available. Repayment periods of 36 , 60 months. Accepts applicants with no credit history.
- Oportun: Loan amounts of $300 - $12,000. APRs of 36% maximum. Repayment periods of 6 - 46 months. Accepts applicants with no credit history.
- NetCredit: Loan amounts of $500 - $10,500. APRs of 36% - 155% (varies by state). Repayment periods of 6 - 60 months (varies by state). Accepts applicants with no credit history.
- OppLoans: Loan amounts of $500 - $4,000. APRs of 59% - 160%. Repayment periods of Up to 18 months. No credit check.
- Integra Credit: Loan amounts of $500 - $3,000. APRs of 99% - 300%. Repayment periods of 6 - 18 months. No credit check.
- 60MonthLoans: Loan amounts of $2,600 - $10,000. APRs of 19.24% - 69.5%. Repayment periods of 24-60 months. No credit check.
To read more about the top-ranked offers, check out WalletHub’s picks for the best no credit loans. Then, you can estimate your potential rates with our free pre-qualification tool.
Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000), NM ($5,100), OH ($6,000).
The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 24.83% and 60 monthly payments of $26.36 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $15,817 including a $594 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
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