Best Low-Income Loans

Loans through Upstart require a minimum income of $12,000 per year, which is quite low compared to most other loans. The loans available through Upstart also offer the low APRs, along with loan amounts between $1,000 - $75,000.

Key Facts About Personal Loans Through Upstart:

• APR range: 6.6% - 35.99%*
• Origination fee: 0% - 15%
• Loan amount: $1,000 - $75,000**
• Payoff period: 36 months or 60 months
• Funding timeline: As soon as the next business day***
• Minimum credit score: 300
• Minimum income required: $12,000 per year

Rocket Loans offers the best low-income loans that you can get quickly, providing funding as soon as the same business day you apply. Rocket Loans has a minimum income requirement of $24,000 for loan approval, and you will need a credit score of 640 to qualify.

Key Facts About Rocket Personal Loans:

• APR range: 8.31% - 29.99%
• Origination fee: Up to 9%
• Loan amount: $2,000 - $45,000
• Payoff period: 36 or 60 months
• Funding timeline: As soon as the same business day
• Minimum credit score: 640
• Minimum income required: $24,000 per year

Prosper offers the best low-income loans that you can apply for with a co-applicant in order to secure better terms. There is no minimum income required for loans from Prosper, and you can borrow $2,000 - $50,000 with a repayment period of 24 or 36 or 48 or 60 months. Prosper also has a respectable APR range.

Key Facts About Prosper Personal Loans:

• APR range: 8.99% - 35.99%
• Origination fee: 1% - 9.99%
• Loan amount: $2,000 - $50,000
• Payoff period: 24 or 36 or 48 or 60 months
• Funding timeline: As soon as the next business day
• Minimum credit score: 640
• Minimum income required: No minimum income

Discover offers the best low-income loans for fair credit. If you have at least $25,000 in annual income and a credit score of 660, you could borrow $2,500 - $40,000 and enjoy a long repayment period as well as a relatively low APR.

Key Facts About Discover Personal Loans:

• APR range: 7.99% - 24.99%
• Origination fee: 0%
• Loan amount: $2,500 - $40,000
• Payoff period: 36, 48, 60, 72 or 84 months
• Funding timeline: As soon as the next business day
• Minimum credit score: 660
• Minimum income required: $25,000 per year