The easiest personal loans to get are from 60MonthLoans because you can apply online in minutes and the company does not do a hard inquiry into your credit history. 60MonthLoans offers loans of $2,600 - $10,000 with APRs of 19.24% - 69.5%.
Easy Personal Loans to Get
60MonthLoans. Loan amounts of $2,600 - $10,000. APRs of 19.24% - 69.5%. No credit check.
OppLoans by OppFi. Loan amounts of $500 - $4,000. APRs of 59% - 160%. No credit check.
Integra Credit. Loan amounts of $500 - $3,000. APRs of 99% - 300%. No credit check.
NetCredit. Loan amounts of $500 - $10,500. APRs of 36% - 155% (varies by state). Available to people with no credit.
Oportun. Loan amounts of $300 - $12,000. APRs of 36% maximum. Available to people with no credit.
RISE. Loan amounts of $500 - $5,000. APRs of 60% - 299%. Available to people with no credit.
The easiest loans to get approved for are payday loans, car title loans, pawnshop loans and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, so they’re available to people with bad credit. They’re also very expensive in most cases.
Below, you can compare some of the easiest-to-get personal loans available right now.… read full answer
A personal loan from OppLoans is one of the easiest loans you can get approved for because there’s no credit check when you apply. All you’ll need is to be at least 18 years old, have U.S. citizenship or permanent residency, and have enough income to make your payments each month. Integra Credit and 60MonthLoans are two similar options.
Among lenders that do a credit check, the easiest loans to get approved for are from LendingPoint. This online lender requires a credit score of 580 or higher for approval. LendingPoint loans also range from $2,000 - $30,000, require repayment in 24 - 72 months, and have an APR range of 7.99% - 35.99%.
Types of Loans That Are Easy to Get
No Credit Check Loans
A no credit check loan is the easiest type of loan to get approved for, though it isn't necessarily the best choice for everyone. No credit check loans are usually quite a bit more expensive than loans from lenders that check your credit.
Unsecured Personal Loans
Many unsecured personal loans may be easy for people with bad credit to get approved for since they typically have a credit score requirement of 580 or higher. However, these loans are risky for lenders to offer since you do not have to put up collateral.
Secured Personal Loan
The reason secured personal loans are easy to get approved for is that you will have to put up collateral that the lender can keep if you don't pay the loan back. This minimizes the lender's risk, so the approval criteria are relatively easy to meet.
A payday loan is a small, short-term loan that you pay back with your next paycheck. But payday loans are incredibly expensive compared to normal personal loans, so they are not worth pursuing except as a last resort.
Emergency loans are personal loans that you can get within a few business days to pay for unexpected expenses such as hospital bills, auto repairs or fixing storm damage. They can offer up to $100,000 in funding, low minimum APRs and long repayment periods.
Hardship Loans from Local Government
All states offer hardship or disaster loans, whether it’s to help pay rent or to keep a small business afloat. These loans typically have eligibility requirements that are different from state to state.
Hardship Distribution from Your 401(k)
You can withdraw money from your 401(k) because of an important, immediate financial need. However, you cannot take out more than necessary to satisfy the need and you cannot repay the withdrawal.
A 401(k) loan lets you borrow money from your retirement account. You will need to repay the loan, along with interest, within 5 years of taking it out, or else there are taxes and penalties, in most cases.
A paycheck advance is a way to get a portion of your next paycheck from your employer earlier than scheduled. Not all employers offer this service, though.
Car Title Loans
Car title loans usually allow you to borrow anywhere from 25% to 50% of the value of your vehicle in exchange for the car’s title, which serves as collateral for the loan. This type of loan typically comes with a monthly finance fee of 25% and a short payoff term of 15-30 days, so be cautious.
A pawnshop will evaluate a personal item that you bring in as collateral and loan you a percentage of its value. Pawnshop loans offer instant cash but can sell your property if you fail to repay the loan.
The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640). So even people with bad credit may be able to qualify.… read full answer
Wells Fargo normally requires a credit score of 660 for their unsecured personal loans. However, they also offer secured personal loans that are available even with lower scores. Wells Fargo’s secured loans require collateral in the form of money in a Wells Fargo savings account or CD.
Most banks that offer personal loans require a credit score of at least 660. Some require even higher scores, like Citizens Bank (680) and Barclays (700).
Easiest Banks to Get a Personal Loan From:
USAA: Will lend to people with less than fair credit (scores below 640)
Wells Fargo: 660 minimum credit score for unsecured; no minimum for secured
American Express: 660 minimum credit score
Discover: 660 minimum credit score
TD Bank: 660 minimum credit score for existing customers (750 for non-TD customers)
These credit score requirements are either official info from the lender or the consensus of third-party sources.
The average person’s credit score is over 660, which puts them in a decent position to qualify for a personal loan from most banks. But if your score is lower, you can apply with USAA or get a secured loan from Wells Fargo.
You might also want to look outside of banks. Some credit unions and online lenders offer better chances of being approved with bad credit. For example, Avant’s minimum score requirement is reportedly 600 and LendingPoint’s is 585.
It’s worth noting that some online personal loan providers will check your credit but still consider people with bad or no credit. There are also other types of online loans that are easy to get, like credit-builder loans and secured personal loans, among others.
Easiest Online Loans to Get
Oportun. Loan amounts of $300 - $12,000. APRs of 36% maximum. Repayment periods of 6 - 46 months.
60MonthLoans. Loan amounts of $2,600 - $10,000. APRs of 19.24% - 69.5%. Repayment periods of 24-60 months. No credit check.
NetCredit. Loan amounts of $500 - $10,500. APRs of 36% - 155% (varies by state). Repayment periods of 6 - 60 months (varies by state).
OppLoans by OppFi. Loan amounts of $500 - $4,000. APRs of 59% - 160%. Repayment periods of 9 - 18 months. No credit check.
RISE. Loan amounts of $500 - $5,000. APRs of 60% - 299%. Repayment periods of up to 26 months depending on the state.
Integra Credit. Loan amounts of $500 - $3,000. APRs of 99% - 300%. Repayment periods of 6 - 18 months. No credit check.
Some loan providers allow you to pre-qualify before you officially apply. Pre-qualifying lets you see your approval odds and what rates may be available to you. You can try to pre-qualify with multiple lenders at once using the free pre-qualification tool on WalletHub. You can also learn more about the different types of online loans that are easy to get below.
Types of Online Loans That Are Easy to Get
Personal loans for people with no credit
Personal loans for people with no credit do not require you to have a credit score to qualify, but they have high APRs and fees. Some loan providers will check your credit when you apply, and some may not check your credit at all.
With a credit-builder loan, the lender will put money in a savings account for you. You’ll then make payments adding up to the amount in the savings account, plus interest, over a set amount of time. Once you make all the payments and the loan term is up, the provider will give you the money in the savings account.
Secured personal loans require you to put up something as collateral to secure the loan. This could be a vehicle or money in a savings account, for example. Keep in mind that if you don’t repay the loan, the lender can keep the collateral.
A cosigner is a person who helps you qualify for a loan with their higher credit score and income. They will have to repay the loan if you fail to repay it, which could strain your relationship. You can check out WalletHub’s picks for the best personal loans with a cosigner to learn more.
Payday loans require repayment very quickly and typically charge extremely high fees – often equivalent to an APR of 400%+. They should be avoided.
Auto title loans
Auto title loans offer a portion of the value of your car upfront but require you to use the title of your car as collateral. If you don’t repay the loan, the lender can keep the car.
Pawn shop loans
Pawn shop loans allow you to bring in items and get a portion of their value in return. If you fail to repay the loan, the shop can keep and sell your items.
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