An installment loan allows you to borrow money, usually between $5,000 and $250,000, and repay it over time in monthly installments. Term lengths typically range between three and six years and sometimes longer. Installment loans, also known as personal loans, are used for a wide variety of expenses, including home improvement, credit card debt consolidation, buying a car, and paying for medical bills, to name a few.

Personal loans can vary widely in length, APR, and fees. Therefore, it is essential to choose carefully, considering several factors when looking for an installment loan. If you have a low credit score, rates could go as high as 30% or more.

We have scrutinized some of the best legit installment loan companies by looking at their background, fees, terms, and rates to recommend reputable providers. Most lenders are soft, and most banks and credit unions perform hard inquiries.

Review our marketplace to find the best installment loans for bad credit September 2026.

ElitePersonalFinance Marketplace

Loan Type: Personal Loans ▼

SuperMoney Debt Consolidation

5/5

$100 - $100,000

CS: 0 • 5.96% - 35.99%

Apply Now SSL No Credit Effect

LendingforBadCredit

5/5

$100 - $40,000

CS: 0 • 5.99% - 35.99%

Apply Now SSL No Credit Effect

SuperMoney

5/5

$100 - $100,000

CS: 0 • 5.96% - 35.99%

Apply Now SSL No Credit Effect

SmartAdvances

5/5

$100 - $20,000

CS: 0 • 5.99% - 35.99%

Apply Now SSL No Credit Effect

MoneyMutual

5/5

$100 - $5,000

CS: 0 • 5.99% - 35.99%

Apply Now SSL No Credit Effect

Visit EPF Marketplace: Personal Loans »

Best Installment Loans for Bad Credit of September 2026

Lender:	Loan Amount:	APR:	Min. Credit Score:	Best For:	Apply:
ZippyLoan	$100 – $15,000	12% – 35.99%	0	Bad or No Credit	Apply Now SSL No Credit Effect
Upstart	$1,000 – $75,000	6.6% – 35.99%	300	Limited Credit History	Apply Now SSL No Credit Effect
LendingPoint	$2,000 – $36,500	7.99% – 35.99%	600	Small Loans	Apply Now SSL No Credit Effect
Upgrade	$1,000 – $50,000	7.99% – 35.99%	580	Fast Funding	Apply Now SSL No Credit Effect
OneMain Financial	$1,500 – $20,000	18.00% – 35.99%	Unspecified	Secured Loans	Apply Now SSL No Credit Effect
Avant	$2,000 – $35,000	9.95% – 35.95%	580	Variety of Repayment Alternatives	Apply Now SSL No Credit Effect
Lending Club	$1,000 – $40,000	8.30% – 36.00%	500	Smooth Online Experience	Apply Now SSL No Credit Effect
TD Bank	$2,000 – $50,000	6.99% – 19.99%	600	Low Caps Rate	Apply Now SSL No Credit Effect
Happy Money	$5,000 – $40,000	5.99% – 24.99%	600	Low APR	Apply Now SSL No Credit Effect
BadCreditLoans	$500 – $10,000	5.99% – 35.99%	Unspecified	Bad Credit Loans	Apply Now SSL No Credit Effect
Alliant Credit Union	$1,000 – $50,000	10.49% – 12.49%	Unspecified	Same Day Funding	Apply Now SSL No Credit Effect
First Tech Federal Credit Union	$500 – $50,000	6.70% – 18.00%	Unspecified	Loan Repayment Length	Apply Now SSL No Credit Effect
Navy Federal Credit Union	$250 – $50,000	7.49% – 18.00%	Unspecified	Service Members and Affiliates	Apply Now SSL No Credit Effect

Why Should You Trust ElitePersonalFinance’s Guides?

At ElitePersonalFinance, we prioritize informing you about financial choices so you can feel confident about your future. Our guides are always up to date with the latest information and developments in the personal finance world.

We constantly compare terms, rates, APRs, and fees from multiple lenders to find the best deal for our readers. In addition, we only work with reputable companies to ensure that you’re getting the best of the best. Our finance experts always look for new, innovative, and legit products to help you save money and improve your financial life.

Additionally, our editorial team only recommends companies that we believe are the best in their respective fields. We do extensive research and hands-on testing to ensure that our recommendations are as accurate and helpful as possible.

ZippyLoan

Check Rates SSL No Credit Effect

Loan Amount

$100 – $15,000

APR

5.99% - 35.99%

Min. Credit Score

0

Approval

Instant Approval

Terms

1 Month – 72 Months

Fees

• No fee to use ZippyLoan's loan-connecting service
• No hidden fees for using ZippyLoan
• APR and loan fees are determined by the individual lender
• Loan costs vary based on lender, state, loan amount, credit profile, and repayment terms
• Late or missed payment fees may apply according to the lender's loan agreement
• No prepayment penalty
• All applicable lender fees and charges are disclosed in the lender's loan agreement

Qualification Criteria

• Minimum age: 18
• Must provide proof of identity
• Must have a regular source of income
• Must provide personal, income, employment, and banking information requested by the lender
• All credit types may be considered
• Credit score and credit history may be considered
• Monthly income may be considered
• State of residence may affect eligibility
• Lenders may verify identity, income, employment, bank-account information, and credit information
• Final eligibility requirements are determined by the individual lender
• Not available to residents of New York, West Virginia, or Oregon
• Not all applicants will qualify

Average Borrower Profile

• ZippyLoan does not publish a current average funded-borrower loan amount
• ZippyLoan does not publish a current average borrower credit score
• The lender network includes lenders serving excellent, average, and poor credit profiles
• Credit history, income, state of residence, requested loan amount, and other information may affect available offers
• Actual loan amount, APR, fees, and repayment terms depend on the individual lender

Best For

• Bad or no credit

ZippyLoan is a marketplace that connects borrowers with lenders; the site does not provide loans but helps borrowers locate a lender. ZippyLoan will take the information you provide on their website and distribute it to their network of affiliated lenders.

They might either decline your offer or arrange to borrow money from you.

Loan amounts from the lenders you’re connected with through ZippyLoan are typically around $15,000. Since it has partnerships with so many affiliate lenders, even if you have a low credit score, you may still be able to get a loan through them.

The main benefit of using ZippyLoan is the ability to shop around and compare offers from multiple lenders. Additionally, ZippyLoan is free to use, and there are no origination fees.

However, keep in mind that the lenders you’re connected with will have their own fees, so it’s important to read the terms and conditions of your loan carefully before committing to anything.

Pros

• Free to use
• Connects borrowers with multiple lenders
• No origination fees
• Helps those with bad credit qualify for loans
• Fast and easy online application

Cons

• You may be connected with lenders who have high fees
• Loan amounts may be low
• You don’t know what interest rate you’ll get until you’re connected with a lender

The Impact of Covid-19

Although ZippyLoan does not provide programs designed to help those affected by the coronavirus outbreak, you may qualify for a hardship waiver. Get in touch with ZippyLoan at 1-844-379-8621 or email support@zippyloan.com to get started.

Upstart

Check Rates SSL No Credit Effect

Loan Amount

$1,000 – $75,000

APR

6.3% – 35.99%

Min. Credit Score

300

Approval

Instant Approval

Terms

3 or 5 Years

Fees

• Origination fee of 0% – 12% of the loan amount
• Late payment fee of 5% of the past-due amount or $15, whichever is greater, if payment is more than 10 calendar days late
• ACH return fee of $15 per occurrence
• Returned check fee of $15 per occurrence
• Paper copies fee of $10 if eSign consent is withdrawn and paper records are requested
• No prepayment penalty
• Exact fees are disclosed in the loan agreement and may vary by creditor, loan terms, and state

Qualification Criteria

• Minimum age: 18
• Must be a U.S. resident
• Minimum annual income of $12,000 is required to apply
• Must provide valid personal and financial information
• Must have sufficient income and ability to repay the loan
• Credit history and credit profile are considered
• Debt-to-income ratio and existing debt obligations may be considered
• Employment history and income stability may be considered
• Upstart may consider W-2, self-employment, gig, freelance, retirement, disability, Social Security, pension, and other eligible income
• Upstart's model considers income, employment, education, and other factors beyond credit history
• No minimum educational attainment is required
• Checking your rate uses a soft credit inquiry and does not affect your credit score
• A hard credit inquiry is performed if you proceed with the formal application
• Additional documentation may be required
• Minimum loan amounts vary by state: $3,100 in Georgia, $1,500 in Hawaii, and $7,000 in Massachusetts
• Not all applicants will qualify

Average Borrower Profile

• Upstart does not currently publish a current average funded personal-loan amount or average borrower credit score
• Upstart had more than 4 million customers as of June 30, 2026
• Upstart's underwriting model evaluates more than 2,500 variables
• In a 2026 comparison using Upstart data from 2025, the Upstart model approved 41% more applicants and produced rates 33% lower than a hypothetical traditional model
• More than 3 million borrowers had selected debt consolidation or credit-card refinancing as their use of funds as of June 30, 2026
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Low credit scores, high DTI ratios

Terms: 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).

Although educational information is collected as part of Upstart’s rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.

The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.44% and a 8.64% origination fee of $864, for an APR of 22.88%. In this example, the borrower will receive $9,136 and will make 60 monthly payments of $257. 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.

If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. It is important to review your promissory note for these details before accepting your loan.

When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.

The APR calculation compares the two models based on the average APR offered to borrowers up to the same approval rate. The hypothetical credit-score only model used in Upstart’s analysis was developed in connection with the CFPB No Action Letter access-to-credit testing program and was built from a traditional credit score only model trained on Upstart platform data. APR for the scorecard was averaged for each given traditional credit score grouping.

While automated recurring payments are easy to set up, payments by check or one time electronic payments can also be used to repay a loan. Borrowers have the flexibility to choose the repayment method that works best for them.

This information is based on actual borrowers as of 4/1/2023 who identified “credit card refinancing” as their primary use of funds and paid off at least 51% of their outstanding credit card debt within 3 months of taking out the loan. Out of these actual borrowers, some could have experienced an increase or decrease in their credit score. This information reflects the overall average change in credit score points experienced by this group of borrowers as identified above.

The majority of borrowers on the Upstart marketplace are able to receive an instant decision upon submitting a completed application, without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review.

Upstart doesn’t base eligibility on credit score. It provides possibly lower interest rates than SoFi and lends to borrowers with weak credit.

It analyzes employment, credit, experience, and education. You need a legit credit score of roughly 300 to qualify for a loan, but short credit history is okay. If you want to know your APR before applying for a loan, Upstart can do a mild credit check.

After applying for a loan, Upstart will make a hard credit inquiry, reducing your score.

You can borrow $1,000 to $75,000 over three or five years. If you accept the loan by 5 p.m., you’ll receive it the next business day, Monday through Friday.

Fees and interest pile up rapidly. Upstart’s 5-year APR averages 25.05%, ranging from 6.6% – 35.99%. Overdue payments are $15 or 5% of the outstanding total, whichever is greater. Depending on the loan’s terms, you may have to pay an origination charge of 0% to 10%. Nonetheless, you won’t be penalized for paying off your loan early.

Pros:

• Open to people with fair credit (300 minimum credit score).
• No early payoff fees.
• We have fixed rates and terms.
• Flexible personal loan amounts.
• It accepts borrowers with a limited credit history without a credit score.
• Easy online personal loan application process.
• 99% of loan funds are disbursed the following business day after the necessary paperwork is completed before 5 p.m. from Monday to Friday.

Cons:

• High late fees.
• An origination fee of between 0% and 12% is automatically deducted from the loan before it is disbursed to you.
• It requires $10 to obtain paper copies of the loan agreement.
• A legit Social Security number is required.

The Impact on Covid-19

You can file a request to halt your loan payments on Upstart’s website if you’re experiencing financial hardship due to the pandemic or any other reason. Additionally, you can contact the lender can be reached at 1-855-451-6753.

LendingPoint

Check Rates SSL No Credit Effect

Loan Amount

$1,000 – $36,500

APR

7.99% – 35.99%

Min. Credit Score

Not specified

Approval

< 1 Day

Terms

24 Months – 72 Months

Fees

• Origination fee of up to 10% of the loan amount may apply depending on the state
• Origination fee may be deducted from the loan proceeds
• No application fee
• No prepayment penalty
• No fee for making extra payments
• Actual fees depend on state of residence and loan offer
• Actual APR and fees depend on credit profile, financial condition, loan amount, term, and other underwriting factors

Qualification Criteria

• Minimum age: 18
• Must provide a U.S. federal, state, or local government-issued photo ID
• Must have a valid Social Security number
• Must have minimum annual income of $35,000 from employment, retirement, or another qualifying source
• Must have a verifiable personal banking account in your name
• Must not reside in Nevada or West Virginia
• Credit profile and credit history are considered
• Debt-to-income ratio may be considered
• Payment-to-income ratio may be considered
• Financial condition and ability to repay are evaluated
• Checking your options uses a soft credit inquiry and does not affect your credit score
• A hard credit inquiry is required for final loan approval
• Additional documentation may be requested
• Not all applicants will qualify

Average Borrower Profile

• LendingPoint does not publish a current average funded-borrower loan amount
• LendingPoint serves consumers across a broad range of credit profiles
• The loan amount offered is based on the applicant's credit profile and financial information
• Current DTI and PTI are specifically considered when determining affordability
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• $25,000 annual incomes

For customers with fair credit, LendingPoint is the go-to lender specializing in unsecured personal loans from $2,000 to $36,500. T the Georgia-based lender offers borrowers loans with annual percentage rates ranging from 7.99% to 35.99% and repayment lengths of two to six years, except in West Virginia and Nevada. After the lender authorizes the loan and receives all necessary paperwork, funds may are disbursed as soon as the business day.

Operating in 48 states, including Washington, D.C., LendingPoint is renowned for providing legit unsecured loans to borrowers with credit ratings as low as 600. APRs range from 7.99 to 35.99 percent. LendingPoint offers repayment terms ranging from 24 to 60 months.

Personal loans from some lenders with stricter credit guidelines have a $5,000 minimum, whereas LendingPoint allows customers with poor credit to borrow as little as $2,000.

Pros:

• Approval depends on several variables.
• Available in most states.
• Pre-qualification soft credit check.
• Quick financing.
• It has a mobile application for managing loan payments.
• Adjustable payment date.
• Free access to credit scores.

Cons:

• May charge origination fee.
• No co-signer, joint, or secured loans.
• Reports payments to two credit bureaus.

The Impact of Covid-19

There is no mention of particular hardship policies on LendingPoint’s site. You can get more information about your options by contacting the lender at 1-888-969-0959 or emailing customerservice@lendingpoint.com.

Upgrade

Check Rates SSL No Credit Effect

Loan Amount

$1,000 – $50,000

APR

7.74% – 35.99%

Min. Credit Score

580

Approval

Instant Approval

Terms

24 Months – 84 Months

Fees

• Origination fee of 1.85% – 9.99% of the loan amount
• Origination fee is deducted from the loan proceeds
• Late payment fee of up to $10 if the full payment is not received within 15 calendar days of the due date
• Failed electronic or check payment fee of $10 per occurrence
• One-time title transfer fee may apply to certain secured loans; amount is determined by the local motor vehicle agency
• No application fee
• No prepayment penalty

Qualification Criteria

• Minimum age: 18, or 19 in Alabama and certain other states
• Must be a U.S. citizen, permanent resident, or living in the U.S. on a valid visa
• Must provide a verifiable bank account
• Must provide a valid email address
• Credit score, credit usage, and credit history are considered
• Income and employment information are considered during the final review
• Debt-to-income ratio and existing debt obligations may be considered
• May be required to provide proof of income, identity, employment, or other documentation
• W-2 employees may provide gross income; self-employed applicants may provide net income
• Checking your rate uses a soft credit inquiry and does not affect your credit score
• A hard credit inquiry occurs after the loan is funded
• Certain secured loan offers may require collateral
• Loan amounts and terms may vary by state
• Not all applicants will qualify

Average Borrower Profile

• Upgrade does not currently publish a verified average funded personal-loan amount or average borrower credit score
• Loan offers depend on credit score, credit usage history, income, requested loan amount, and other financial information
• Upgrade's current personal-loan product is designed for borrowers across a range of credit profiles
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• High DTI ratios

Upgrade provides legit unsecured personal loans for many credit card refinancing, house renovations, and debt reduction. The APRs offered by Upgrade range from 7.99% to 35.99%, and loan durations span from 24 to 84 months, with sums ranging from $1,000 to $50,000.

After completing the provider’s verification process, loan funds may be available within one working day. Borrowers may be subject to high annual percentage rates and origination fees ranging from 1.85% to 9.99% from the lender.

Pros:

• Allows joint applications.
• Upgrade money transfers from debt consolidation loans to creditors directly.
• Flexible loan amounts of $1,000 to $50,000.
• Offers third-party creditors direct payments.
• No penalties for early repayments.

Cons:

• Origination fees range from 1.85% to 9.99%.
• Charges $10 check return fees and $10 late fees.
• High APRs compared to other competitors in the same category.

The Impact of Covid-19

Upgrade helped people get loans when they had financial difficulties during the outbreak. Also, if you’re still in need of assistance, Upgrade suggests logging in to your account to speak with a person. You can also reach Upgrade by emailing support@upgrade.com or by dialing 1-844-319-3909.

Upgrade Disclaimer:

OneMain Financial

Check Rates SSL No Credit Effect

Loan Amount

$1,500 – $30,000

APR

11.99% – 35.99%

Min. Credit Score

0

Approval

Instant Approval

Terms

24 Months – 60 Months

Fees

• Origination fee of 1% – 10% of the loan amount, or a flat fee of $25 – $500, depending on state
• Late payment fee of $5 – $30, or 1.5% – 15% of the payment or delinquent portion, depending on state and applicable law
• Returned check fee of $25
• Lien recording fee may apply to secured loans
• Title/request-for-title fees may apply to secured auto loans
• UCC financing statement filing and release fees may apply to secured loans
• Reasonable attorney fees may apply for judicial action where permitted by the loan agreement
• No prepayment penalty

Qualification Criteria

• Minimum age: 18
• Must meet OneMain Financial's credit and underwriting requirements
• No single minimum credit score is required
• Must have sufficient income to support the requested loan payment
• Income, monthly expenses, and ability to repay are considered
• Credit history and overall financial picture are considered
• Must provide proof of identity
• Must provide proof of residence
• Must provide proof of income, such as pay stubs or tax returns
• Employment and income stability may be considered
• Secured and unsecured loan options may be available
• Collateral may be required for certain loan offers
• Loan amount, APR, fees, and eligibility can vary by state
• Not all applicants will qualify

Average Borrower Profile

• OneMain Financial does not currently publish a current average funded-borrower loan amount
• OneMain works with borrowers across a wide range of credit scores
• Credit score is not the only factor considered; OneMain evaluates the borrower's overall financial picture
• Income, expenses, credit history, and ability to repay may affect the loan offer
• Borrowers may qualify for secured or unsecured loan options
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications and state

Best For

• Low credit scores

OneMain Financial provides secured loans, which need the provision of collateral like a car, and unsecured loans, which do not. Loan amounts range from $1,500 to $20,000, and APRs range from 18.00% to 35.99%.
Because it doesn’t utilize a credit score to help establish eligibility, the lender doesn’t have a minimum credit score requirement. Instead, it examines applicants’ credit histories and alternative data using its underwriting system.

The ability to repay the loan, the stability of your credit, and whether the loan is secured by collateral are three crucial factors in a loan application. OneMain states that it’s difficult for borrowers to be approved if their credit history is relatively short and doesn’t have a credit bureau file.

Pros:

• Borrowers can choose their repayment date.
• Offers secured and joint loans.
• Funds loans on the same or the following work day.
• Offers debt consolidation loans with direct payments to creditors.

Cons:

• Origination charges vary by state.
• APR minimum is high, at 18.00 per cent.
• Business-related uses are prohibited.

The Impact of Covid-19

During the epidemic, OneMain Financial allowed customers to postpone payment deferrals and stopped charging late penalties. Additionally, the lending institution contributed to the CDC (CDC). The loan company’s number is 1-800-961-5577; if you need to reach them, OneMain Financial suggests calling them at that number.

Avant

Check Rates SSL No Credit Effect

Loan Amount

$2,000 – $35,000

APR

9.95% – 35.99%

Min. Credit Score

550

Approval

< 1 Day

Terms

24 Months – 60 Months

Fees:

• Administration fee of up to 9.99% of the loan amount
• Administration fee is deducted from the loan proceeds
• Administration fee is treated as part of the loan principal and accrues interest
• No application fee
• No prepayment penalty
• Late payment fees may apply according to the applicable state and loan agreement
• Returned or dishonored payment fees may apply according to the applicable state and loan agreement
• Actual fees may vary based on state law and the loan agreement

Qualification Criteria:

• Minimum age: 18
• Must have a valid personal checking or savings account
• Must provide verifiable personal and financial information
• Credit score, credit history, income, and employment stability may be considered
• Outstanding debt and ability to repay may be considered
• A credit score as low as 550 may qualify
• Avant customers typically have credit scores between 550 and 700
• Checking your loan options does not impact your credit score
• Additional documentation may be requested during the application process
• Loan eligibility, minimum loan amount, APR, and terms may vary by state
• Not all applicants will qualify

Average Borrower Profile:

• Avant customers who take out personal loans typically have credit scores between 550 and 700
• Borrowers with credit scores as low as 550 may qualify
• Income, employment stability, outstanding debt, and credit history may affect eligibility
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications and state

Best For

• $20,000 annual incomes

Avant is ideal for people with less-than-perfect credit as they may be able to get personal loans with a credit score as low as 580. Additionally, the funds can be used for various things, such as paying for unforeseen expenses or combining multiple debt payments into one. However, you may be required to pay an origination fee.

If you pre-qualify, you can view the loan amount and interest rate for an Avant loan. By pre-qualifying, you can better understand how loan payments fit into your monthly budget, which doesn’t impact your credit. The lender will perform a hard credit pull if you submit a loan application, which could temporarily lower your score by a few points.

Pros:

• Other household members’ income may influence eligibility.
• No early termination fee.
• Low credit score requirements.

Cons:

• High initial administration fee.
• The minimum APR is high, at 9.95 per cent.
• No co-borrowers or co-signers.

The Impact of Covid-19

Throughout the epidemic, Avant provided assistance programs to aid borrowers who had trouble making payments. Also, you can contact the lender at 1-800-712-5407 if you cannot make your regular loan payments. You can also reach out by email at support@avant.com.

LendingClub

Check Rates SSL No Credit Effect

Loan Amount

$1,000 – $60,000

APR

5.96% – 35.99%

Min. Credit Score

Not specified

Approval

< 1 Day

Terms

24 Months – 84 Months

Fees

• Origination/processing fee of 0% – 8% of the loan amount
• Origination/processing fee is determined at the time of application
• No application fee to check your rate
• No prepayment penalty
• Late payment fees may apply according to the loan agreement
• Other fees may apply depending on the loan agreement and state
• Actual APR, fees, loan amount, and terms depend on creditworthiness, loan amount, term, and other factors

Qualification Criteria

• Minimum age: 18
• Must meet LendingClub Bank's credit and underwriting requirements
• Must provide accurate personal and financial information
• Credit history and creditworthiness are considered
• Income and debt obligations may be considered
• Debt-to-income ratio and ability to repay may be evaluated
• Applicants may be required to provide proof of income or other supporting documents
• Checking your rate uses a soft credit inquiry and does not affect your credit score
• A hard credit inquiry may occur if the loan is issued
• Some applicants may apply with a co-borrower
• Sufficient investor commitment may be required for loan funding
• Loan amounts, APRs, and terms may vary by state
• Not all applicants will qualify

Average Borrower Profile

• Average loan principal: $19,234
• Average APR: 17.63%
• Average origination fee: 6%
• Average loan term: 36 Months
• These figures are based on LendingClub borrower data from April 2025 through June 2025
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Smooth Online Experience

LendingClub provides legit personal loans between $1,000 and $40,000 and branchless banking. This digital peer-to-peer lending platform operated by the fintech business links consumers and a network of investors. There are two loan terms available to borrowers: 36 or 60 months. It’s a good option for borrowers with fair to good credit because the eligibility requirements are less demanding than those imposed by other lenders.

If getting approved for a loan is challenging due to your credit score, LendingClub allows you to improve your chances by adding a co-borrower. This option may help you qualify for a loan that you otherwise wouldn’t have been able to.

Pros:

• Offers third-party creditors direct payment.
• Allows joint applications.
• Available customers with fair to good credit.
• After approval, borrowers may receive funds as early as 24 hours later.

Cons:

• All personal loans have an origination fee.
• There are no loans with variable rates.

The Impact of Covid-19

During the pandemic, LendingClub customers having trouble making ends meet might participate in a delayed payment scheme. Applying for aid can be done by dialing 1-877-644-4446, LendingClub’s special care helpline.

TB Bank Personal Loans

The TD Fit unsecured personal loan from TD Bank has low fees and gives customers between $2,000 and $50,000. Additionally, it funds loans in as short as one business day. Borrowers in 15 East Coast states and Washington, D.C. can obtain unsecured personal loans from TD Bank.

In addition to an entirely online application process, the lender guarantees quick approval and funding. There are three ways borrowers might repay their loans and a wide range of loan amounts.

While no origination or prepayment fees are associated with the loan, it lacks certain essential features, such as the ability to transmit debt consolidation loan funds directly to creditors and a discount for automating payments.

Pros:

• Prequalification includes a soft credit check.
• Flexible loan amounts.
• Ability to adjust your payment date.

Cons:

• Only accessible in specific states.
• It cannot be used for expenses related to business or education.
• No discount for autopay.

The Impact of Covid-19

TD Bank is accepting loan forgiveness applications for 2020 and 2021. Further, the financial institution is dedicated to providing customer-friendly options. Get in touch with TD Bank at 1-888-751-9000 or customer.service@td.com to find out what financial resources are best for you in the wake of the pandemic.

Happy Money

Check Rates SSL No Credit Effect

Loan Amount

$5,000 – $50,000

APR

8.95% – 35.99%

Min. Credit Score

Not specified

Approval

Instant Approval

Terms

24 Months – 60 Months

Fees

• Origination fee of 2% – 12% may apply
• The origination fee is deducted from the loan proceeds
• No application fee
• No early or extra payment fees
• No check processing fees
• No returned check fees
• No annual fees
• Late, bounced-check, failed-ACH, or other lender fees may apply according to the applicable loan agreement
• Actual origination fee depends on loan amount, term, and credit quality

Qualification Criteria

• Minimum age: 18
• Must have a valid Social Security number
• Must have a valid checking account
• Must meet the credit-review and underwriting requirements of Happy Money's lending partners
• Credit score and credit history are considered
• Income is considered
• Existing debt levels and credit usage are considered
• Loan amount and term depend on the applicant's financial profile
• State of residence may affect eligibility and available rates
• Checking your rate uses a soft credit inquiry and does not affect your credit score
• A hard credit inquiry appears when the loan is issued
• Currently, loans are not offered in Iowa or Nevada
• Not all applicants will qualify

Average Borrower Profile

• Happy Money does not currently publish a current average funded-loan amount or average borrower credit score
• Happy Money has served more than 350,000 customers
• Happy Money has facilitated more than $7 billion toward customers' financial goals
• The Payoff Loan is primarily designed for credit-card debt consolidation
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Low APR

Happy Money offers fixed-rate personal loans for debt consolidation. Borrowers can consolidate high-interest credit card debt with a “Payoff Loan.”
Happy Money reports loan payments to all three major credit agencies and offers free monthly FICO live scoring to help borrowers improve their credit. The lender provides an app for account tracking.

Happy Money prequalification doesn’t affect your credit score. Your employment history and current debt obligations determine your estimated interest rate and loan amount.
Happy Money lends $5,000 to $40,000 for two to five years. The loan amount is deposited into borrowers’ savings or checking accounts. The lender pays off the credit cards directly, simplifying consolidation.

Happy Money is a fee-free company: with no origination, prepayment, or late fees. The company’s rates aren’t as competitive as other options.

Pros:

• A borrower’s FICO credit score can be viewed for free on Happy Money once per month.
• Lenders pay off borrowers’ credit cards and deposit loan proceeds in their bank or savings accounts. Borrowers don’t have to pay money, which speeds up consolidation.
• Happy Money lets users pre-qualify for a loan without damaging their credit. Happy Money will execute a hard credit pull when you take a loan, which can temporarily reduce your credit score.
• Completed loan applications may result in instant approval. Happy Money’s two-day funding timeframe is quick.
• Happy Money offers stress, personality, and financial assessments (how much cash is left over after paying expenses).

Cons:

• Happy Money’s origination charge is 5%. This fee is collected from the loan amount before disbursement. Happy Money’s price is all-inclusive, while other lenders charge an origination fee.
• Unlike some lenders, Happy Money doesn’t offer a rate discount for paperless payments. This discount lowers your loan’s interest rate by 0.25 to 0.5 percentage points.
• Happy Money borrowers can’t boost their acceptance odds by filing a combined application, adding a co-signer, or using collateral.

The Impact of Covid-19

Borrowers experiencing difficulties due to COVID-19 or any other financial crisis can turn to Happy Money’s relief services for assistance. You can reach Happy Money at 1-949-346-8740 or email success@happymoney.com if you have any questions about your choices.

BadCreditLoans

Check Rates SSL No Credit Effect

Loan Amount

$500 – $10,000

APR

5.99% - 35.99%

Min. Credit Score

0

Approval

Instant Approval

Terms

1 Month – 72 Months

Fees

• No fee to submit a loan request or connect with a lender
• APR and loan fees are determined by the individual lender
• Origination fees may apply depending on the lender and loan offer
• Late payment, nonpayment, and other fees may apply according to the lender's loan agreement
• All applicable fees are disclosed by the lender before the borrower accepts the loan
• BadCreditLoans.com does not determine lender rates, fees, or loan terms
• No prepayment fee is specified by BadCreditLoans.com; any applicable terms are determined by the lender

Qualification Criteria

• Minimum age: 18
• Must provide proof of U.S. citizenship, such as a Social Security number, or legal residency
• Must have regular income from full-time employment, self-employment, disability, or Social Security benefits
• Must have a checking account in your name
• Must provide valid work and home telephone numbers
• Must provide a valid email address
• Credit does not need to be perfect to be considered
• Credit history may affect the type of loan offers and terms received
• Lenders may consider income, credit history, and other financial information
• Additional requirements may apply depending on the lender
• Meeting these requirements does not guarantee connection with a lender or loan approval
• Not all applicants will qualify

Average Borrower Profile

• BadCreditLoans.com does not publish a current average funded-borrower loan amount
• The service is designed to connect borrowers with lenders that may consider poor-credit applicants
• Borrowers with imperfect credit may still receive loan offers if they meet the lender's other requirements
• Credit history can affect the loan amount, APR, fees, and repayment terms offered
• Actual loan amount, APR, fees, and repayment terms depend on the individual lender

Best For

• Comparing bad credit loans

BadCreditLoans.com can help you obtain a legit and modest personal loan with the best rate. BadCreditLoans.com isn’t a lender but connects borrowers with lenders. Personal, installment, and peer-to-peer lending are available to individuals and enterprises. They’re popular because they connect borrowers with financial institutions that compete for their business by offering cheap interest rates.

BadCreditLoans.com has connected consumers with traditional lenders, legit P2P networks, and native loans since 1998. (from Native American Indian Funds). They offer tailored and installment loans to consumers of various credit scores nationwide. They’re not a lender, but they provide a marketplace where customers with excellent or bad credit can compare loan offers from multiple legit sources. BadCreditLoans stands out for its peer-to-peer network and tribal loans.

Self-employed or those with a problematic credit history may acquire a personal loan from a tribal lender. Because sovereign native American areas sponsor tribe loans, they are not forced to conform to state APR maximums.

Their banking and lending industry ties allow them to offer unsecured loans to individuals with varying credit. BadCreditLoans will help you find a legit lender despite bankruptcy, repossession, or judgment.

Pros:

• You can use their online loan marketplace to find a personal loan that matches your profile and needs.
• No upfront money or commitment is needed for Bad Credit Loans.
• You don’t have to worry about whether you’re getting the best deal because they’ll present offers from multiple lenders for you to compare.
• Applying is quick and easy, and you can do it all from the BadCreditLoans website or mobile app.

Cons:

• Because they work with so many different lenders, the terms and conditions of each loan will vary. Make sure you read all the fine print before accepting any offer.
• BadCreditLoans is a marketplace, not a lender. That implies you must apply with each lender individually.

The Impact of Covid-19

BadCreditLoans cannot make changes to existing agreements as a loan comparison service. Thus, you need to contact your lender directly to determine if any forbearance or hardship programs are available. BadCreditLoans is available via phone at 1-800-245-5626 or via email at support@badcreditloans.com if you need additional assistance.

Alliant Credit Union

Check Rates SSL No Credit Effect

Loan Amount

$1,000 – $10,000

APR

Varies by Lender

Min. Credit Score

Not specified

Approval

< 1 Day

Terms

12 Months – 60 Months

Fees

• No origination fees
• No service charges are deducted from the approved loan amount
• No prepayment penalty
• APR is 0.40 percentage points higher without automatic payments
• APR is 1 percentage point higher when refinancing an existing Alliant loan
• Late fees may apply according to the loan agreement
• Actual APR depends on payment method, creditworthiness, and ability to repay
• Rates, terms, and conditions are subject to change

Qualification Criteria

• Minimum age: 18
• Must be an Alliant Credit Union member
• Must be an established Alliant member for at least 90 days before applying
• Must meet Alliant's credit and underwriting requirements
• Credit score and credit history are considered
• Debt-to-income ratio is considered
• Income and ability to repay are considered
• Payment method can affect the APR offered
• Must provide requested personal, income, employment, and financial information
• Additional documentation may be required
• Loans are subject to credit approval
• Not all applicants will qualify

Average Borrower Profile

• Alliant does not currently publish a verified average funded personal-loan amount
• Alliant does not currently publish a verified average borrower credit score
• Credit score, debt-to-income ratio, income, payment method, and ability to repay affect loan approval and pricing
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Same Day Funding

In most cases, Alliant can approve and fund loans on the same day. No origination fees or late payment penalties lower loan costs. Debt protection covers death, incapacity, and involuntary unemployment, which could leave you unable to repay your loan.

Monthly debt insurance costs $1.99 per $1,000 borrowed. Alliant Credit Union members get the best personal loan rates and terms. Open a $5 savings account to join. You may get a cheaper rate if your payments are automatically taken from your checking account. The autopsy can save you 0.25 percent.

Alliant loans up to $50,000 with 12- or 60-month terms. Credit union members can get legit Alliant personal loans. Open a $5 savings account to join. Best rates may require a decent credit score and income.

Alliant is a good choice for a legit low-rate personal loan. Credit union members get the best rates and terms on personal loans.

Pros:

• The maximum loan amount from Alliant is $50,000, and you can choose a repayment term of either 12 or 60 months.
• Alliant Credit Union offers members the best legit personal loan rates and conditions. Open a $5 savings account to join.
• You may get a cheaper rate if your payments are automatically taken from your checking account. The autopay can save you 0.25 per cent.

Cons:

• Credit union members can get Alliant personal loans. Open a $5 savings account to join. Best rates may require a decent credit score and income.
• Not everyone will qualify for the best rates and terms. You may need a good credit score and income to qualify for the best rates.
• The maximum loan amount from Alliant is $50,000. Some lenders may offer more flexibility when it comes to loan amounts.

The Impact of Covid-19

Alliant Credit Union doesn’t offer specific solutions to combat Covid-19. However, you can contact the lender to get assistance via  000 1 773-462-2000 or id, mediainquiry@alliantcreditunion.org.

First Tech Federal Credit Union

Check Rates SSL No Credit Effect

Loan Amount

$500 – $50,000

APR

6.99% – 18.00%

Min. Credit Score

Not specified

Approval

Instant Approval

Terms

6 Months – 84 Months

Fees:

• No application fee
• No origination fee
• No prepayment penalty
• No annual fee
• No fees are charged for checking your rate
• Actual APR depends on creditworthiness, loan amount, and loan term
• Rates and terms are subject to change and credit approval
• Membership is required and subject to approval

Qualification Criteria:

• Minimum age: 18
• Must be a First Tech Federal Credit Union member
• Membership is subject to approval
• Must meet First Tech's credit and underwriting requirements
• Credit history and creditworthiness are considered
• Income and ability to repay may be considered
• Loan amount and loan term affect the rate offered
• A soft credit inquiry is used when checking your rate and does not affect your credit score
• A hard credit inquiry may be performed if you continue with the application
• Must provide requested personal, employment, income, and financial information
• All loan applications are subject to credit approval
• Not all applicants will qualify
• First Tech currently lends in all states except Texas, Alaska, and Hawaii

Average Borrower Profile:

• First Tech does not publish a current average funded personal-loan amount or average borrower credit score
• First Tech states that the interest rate is based on creditworthiness and credit history
• Loan amount, term, credit profile, and other financial factors affect the rate offered
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Fast online application

First Tech Federal Credit Union may be a fantastic alternative to avoid payday loan APRs. They offer $500 loans. First Tech loans are free to apply for, renew, and prepay.
First Tech has the most extended loan repayment term, making it the most excellent option for stretching out payments. Spreading over seven years will reduce your monthly outlay but increase interest rates.

Nonetheless, First Tech has no application, closing, or renewal fees. Prepayment costs nothing. First Tech offers 12- or 84-month repayment terms. First Tech offers $50,000 in loans.
Credit union members can get First Tech personal loans. Open a $5 savings account to join. Best rates may require a decent credit score and income.

Pros:

There are no costs to apply for, close, or renew a First Tech loan, and there is also no fee for prepayment.
• First Tech allows for the most extended possible loan repayment term, making it the best option if you’d prefer to stretch out your payments over a more extended period.
• The maximum loan amount from First Tech is $50,000.

Cons:

• Not everyone will qualify for the best rates and terms. You may need a good credit score and legit income to be eligible for the best rates.
• Credit union members can get First Tech personal loans. Open a $5 savings account to join. Best rates may require a decent credit score and income.

The Impact of Covid-19

To help their members through tough times during the Covid-19 pandemic, First Tech created a particular program. Please fill out the payment assistance request form if you need help making payments on your First Tech loan. Alternatively, you can contact First Tech via 000 1 503-644-4034 or memberservice@firsttechfed.com.

Navy Federal Credit Union

Check Rates SSL No Credit Effect

Loan Amount

$250 to $150,000

APR

8.74% – 18.00%

Min. Credit Score

Not specified

Approval

Instant Approval

Terms

6 Months – 180 Months

Fees

• No application fee
• No origination fee
• No prepayment penalty
• Consumer loan late payment fee of $29
• Returned loan payment fee: No charge
• Loans over $50,000 require a qualified co-applicant
• Home-improvement loans of $25,000 or more may qualify for terms of 61–84 months
• Home-improvement loans of $30,000 or more may qualify for terms of 85–180 months
• Actual APR depends on creditworthiness, loan amount, and repayment term
• Rates are fixed for the life of the loan

Qualification Criteria

• Minimum age: 18
• Must be a Navy Federal Credit Union member
• Must meet Navy Federal's credit and underwriting requirements
• Credit history is considered
• Income and employment information are considered
• Must provide current housing information
• Must provide the requested loan amount and desired loan term
• Must provide contact, employment, income, and other requested financial information
• A qualified co-applicant is required for personal loans above $50,000
• Not all applicants will qualify

Average Borrower Profile

• Navy Federal does not publish a current average funded personal-loan amount
• Navy Federal does not publish a current average borrower credit score
• Credit history, income, loan amount, and term affect the rate offered
• Actual loan amount, APR, fees, and repayment terms depend on the applicant's qualifications

Best For

• Service members and affiliates.

The minimal loan amount required by the lenders on our list is $250, which Navy Federal Credit Union offers. You may want to consider a personal loan from Navy Federal as an alternative to a payday loan due to the reduced interest rates they provide.

Although the lender may not specify a minimum credit score for approval, borrowers can expect stricter standards than those of a payday lender.
The maximum loan amount from Navy Federal Credit Union is $50,000. In addition, the repayment terms offered are 6 to 60 months.

With Navy Federal, you can apply for a legit personal loan online or in person at a branch. You’ll need to be a member of the credit union to use, which requires joining the Navy League or Armed Forces Retirement Home.

Pros:

• Navy Federal Credit Union offers reduced interest rates for their loans.
• The maximum loan amount from Navy Federal Credit Union is $50,000.
• You can apply for a personal loan online or in person at a branch.

Cons:

• You’ll need to be a member of the credit union to apply, which requires joining the Navy League or Armed Forces Retirement Home.
• The minimal loan amount required by the lenders on our list is $250, which Navy Federal Credit Union offers.

The Impact of Covid-19

Navy Federal Credit Union offers various  Covid-19 reliefs. Contact the lender to know the best comfort that matches your need via 1-888-842-6328 or mail them.

What are Installment Loans?

A defined sum of money is loaned to the borrower, and the loan is repaid in equal installments at predetermined intervals. Part of the principal and interest accrued on an installment loan must be repaid with each installment payment.

The loan’s value, the interest rate the lender charges, and the length of the loan’s term are the primary factors in establishing the sum of each monthly payment. Borrowers can easily plan for and stick to the loan’s payment schedule because the monthly payment amount is set at the beginning of the loan and does not change throughout the loan.

Auto loans, home loans, unsecured personal loans, and education loans are all examples of legical installment loans. You can get a secured (collateralized) or unsecured installment loan (non-collateralized). Collateral for a car loan is the vehicle itself, while mortgage loan collateral is the property being bought with the loan.

Can I Get Installment Loans with Bad Credit?

Yes. You can get a legit unsecured installment loan even with poor credit. Instead of relying solely on a borrower’s credit score, modern lenders consider a wider range of information about the applicant, including their employment, history, actual income, debt-to-income ratio (DTI), free cash flow, and more.

Many private loan companies are willing to work with borrowers who have recently seen a negative change in their credit history. Note that personal loans are typically defined as unsecured loans that can be used for any purpose, with loan amounts ranging from $1,000 to $250,000 (or the highest amount we are aware of and have on our site) and interest rates ranging from 5.99% to 35.99%, although some lenders may offer lower rates, such as 2.49%. (or this is the lowest we know and have on our site).

Poor credit borrowers should expect to pay an annual percentage rate (APR) of 15% to 35.99%. While this is not cheap, it is significantly less than the APRs of payday loans, which typically hover around 400%. Roughly, we’re talking about a range of $6,000 to $15,000. This is a rather typical sum. Legit loans of at least $500 are granted extremely reluctantly to some applicants, while those with better credit histories are offered over $10,000. This is because the amount is determined by your credit score and your debt-to-income ratio, which can range greatly from one lender to the next.

Borrowing money when you have poor credit is NOT something we advise at EPF. If you can wait and improve your money credit score, you can save money on fees. If you need the money right away, pay as little as possible, and start improving your credit history immediately so you can refinance your bad credit loan with a good credit loan in the future.

What Credit Score Should I Have?

A zero credit score means you have no credit history; it’s the ideal credit score. A typical credit score ranges between 600 and 719.
Poor credit borrowers have an average credit score of 630. With a low score, you’re likely to be approved for a bad credit loan with an APR of 15% to 35.99%. Additionally, you may be required to provide collateral, such as a car or house, to secure the loan.

A good credit score is 720 or higher. If you have a good credit score, you’re more likely to be approved for an unsecured personal loan with a lower APR. You may also qualify for special offers, such as 0% AMoneynancing, which can save you money on interest payments.

An excellent credit score is 780 or higher. Borrowers with excellent credit may be able to qualify for loans with APRs below 15%. They may also receive special offers and perks, such as cashback rewards and priority customer service; money person’s ability to borrow money and the interest rate they must pay on that money are both dependent on their credit score.

Some items that are easier to obtain with a high credit score are

• A low-interest balance transfer card or an unsecured credit card.
• An enticing auto loan or lease.
• Low-interest financing for a home purchase.
• Having access to new lines of legit credit means you can continue to make money even if you run out of money in your emergency reserve.

Other advantages can be gained from having a good credit score, such as lower auto insurance premiums in several states. Some property owners also check tenants’ credit reports.

How Do I Boost my Credit Score?

You can easily raise your credit score by following these tips:

• Pay down credit card debt methodically. Overcharge by no more than 30%.
• Top performers average 7% use. Issuers report your credit card balance to credit bureaus, so keep it low. Large or frequent legit payments can help.
• If you increase your credit limit but keep the same debt, your credit usage ratio will reduce, indicating financial prudence. If your earnings or credit history has improved.
• Authorize yourself: Become an authorized user if the legit cardholder has a large credit limit and a good payment history. The account raises credit utilization. “Credit piggybacking” allows you to ride on the principal user’s good behavior. Even without permission or a number, your credit will improve.
• Paying late hurts your credit. Late payments might last 7.5 years. 30-day late? Call the creditor. If you pay early, the creditor may stop reporting the late payment. Even if the creditor refuses, pay quickly. Paying late hurts credit.
• Authorize yourself: A mistake may lower your credit score. Credit report inconsistencies can be quickly resolved. Each legit bureau offers free credit reports once a year. Check for errors like late payments when you paid on time, mixed-up credit activity, or outdated negative information at AnnualCreditReport.com. Error-proof.
• Paying your debt may stop the collection agency from reporting it and prevent legal action. Inaccurate or outdated negative information can be removed from credit reports.
• Try a secured card. Secured credit can improve credit. This card requires a credit-limit-sized deposit. It works like any other credit card, and timely payments boost your credit.
• Paying rent and utilities on time. Credit bureaus may report on-time rent payments. VantageScores include rent, but FICO 8 doesn’t. Your rental history and regular payments look good to a legit lender. Experian Boost is okay. Boost pays streaming and phone bills from your bank account. Pay Experian. Your FICO 8 will rise if your creditor checks Experian.
• Diversify your credit. A new, separate credit line can help you build credit. Credit-builder loans can help those with only credit card debt. Before agreeing, make sure a loan reports to all three agencies. Those with few loans or credit cards may need more. More legit credit improves mix and usage.

Can I Move on a Secured and a Consigner Installment Loan?

A secured installment loan has collateral, while an unsecured installment loan does not. A cosigner is a person who agrees to repay the debt if the borrower defaults. Some lenders may require a cosigner for an unsecured loan but not a secured one. The reverse may also be true. Lenders typically offer lower interest rates for secured loans because they have collateral.
With bad credit, you can consider a secured loan or one with a cosigner. If you follow their advice, you can:

• Obtain approval, which is not always a given when one has terrible credit.
• Bring down the annual percentage rate.
• Raise the loan amount to a higher level.

What Loans Should I Avoid; Payday, Auto Title, Pawn Shop?

Payday Loans
High-interest payday loans should be avoided to prevent falling deeper into debt.

Why avoid payday loans:

• Simple to overspend and accumulate debt. How confident are you that you can return this month’s loan and interest next month?
• They can make future loan applications harder. Failure to return a payday loan on time might hurt your credit, and many traditional lenders frown on such borrowers.
• It’s too easy to get a loan and spend without thinking. You may not address the sources of your financial problems or consider solutions.
• They are expensive, with an APR of 400%, which is very high.
• Individuals with poor credit scores can now access improved personal loan choices. For instance, the choices we discussed above.

Auto Title Loans

Because your vehicle is used as collateral, the annual percentage rate (APR) for auto title loans is typically below 300%. You should avoid these loans once more. This is due to the following reasons:

• They may include many fees. Case-specific costs vary. Late payments are penalizedMoneyily. Extending a loan costs money. Application, processing, or similar fees may be charged.
  Poor credit history borrowers often have trouble qualifying for auto title loans because of their high-interest rates. True, the rates on these loans will be the highest of any option available to you.
• In addition to short-term loans, some of these businesses offer longer-term alternatives. “Balloon loan” debt demands monthly interest payments. This will bring you into financial difficulties since the interest will exceed the principal.
• Avoid title loans due to the risk of losing your car. Late payments might lead to auto repossession.

Pawn Shop Loans

Pawn shop loans can seem like a good idea, but they’re typically risky. They average 200%. If you want a loan without a credit check, avoid pawn shops. Here are reasons to avoid pawnshop loans.

• The cost-to-benefit ratio is unfavorable. The more you pay to retrieve a pawned object, the longer you keep it. Reconsider that iPad. Cost $700. The item was pawned for $100, but you had to spend $115 more to get it back. You’ve spent more than Apple planned on an iPad.
• Some operate illegally.
• You risk losing your belongings.

How to Find the Best Installment Loans for Bad Credit?

You can get the best installment loans for bad credit from our list above or by following these steps:

• Check your credit score and credit report: The first step is to check your credit score and credit report. This will give you an idea of where you stand and what kind of loans you might qualify for.
• Shop around: Once you know where you stand, it’s time to start shopping for loans. Compare interest rates, fees, and terms from several lenders to see which one is the best fit for you.
• Apply for a loan: Once you’ve found a lender you want to work with, it’s time to apply for it. Be sure to read over the loan agreement carefully before signing anything.
• Make your payments on time: Once you have the loan, making your payments on time is essential. Doing so will help you build a positive credit history and improve your credit score.
• Keep track of your progress: It’s essential to keep track of your progress as you repay your loan. This will help you see how your payments impact your credit score and financial health.

How to Apply for Installment Loans for Bad Credit?

If you’re interested in applying for an installment loan for bad credit, there are a few things you’ll need to do. First, check your credit score and credit report to understand where you stand. Then, compare interest rates, fees, and terms from several lenders to see which one is the best fit for you.

Once you’ve found a lender you want to work with, it’s time to apply for the loan. Be sure to read over the loan agreement carefully before signing anything. Once you have the loan, making your payments on time is essential.

What Installment Loans for Bad Credit are Legit?

All loans reviewed here are legit. However, many people don’t know how to identify legit installment companies.

There are a few things to consider when determining if an installment loan for bad credit is legit. First, ensure the lender is reputable and has a good track record. There are many online lenders that offer bad credit loans, but not all of them are legit. A good way to check the lender’s reputation is to read online reviews and compare rates and terms.

Another thing to look for is whether or not the lender offers flexible repayment terms. Many legit installment loans for bad credit will offer repayment plans that fit your budget and needs. Be sure to read the fine print carefully before signing any loan agreement to make sure you can afford the monthly payments.

Additionally, legit installment loans for bad credit will usually require some form of collateral, such as a car or home equity. This collateral protects the lender in case you default on your loan. Lenders that don’t require collateral may be more likely to be scams, so be sure to do your research before signing any loan agreement. In addition, legit installment loans for bad credit will typically have lower interest rates than loans that don’t require collateral.

Nonetheless, not all installment loans for bad credit are created equal. Some may have higher interest rates and fees, so it’s important to compare offers from several lenders before choosing one.

Are There Guaranteed Installment Loans for Bad Credit?

No, there are no guaranteed installment loans for bad credit. But we work to find loans for most of you. We have a high success rate in finding legit installment loans for bad credit.

Getting approved for a traditional loan may be difficult if you have bad credit. However, there are many lenders that offer installment loans for bad credit. While there is no such thing as a guaranteed installment loan, we work with lenders that offer loans to people with bad credit. Nonetheless, guaranteed installment bad credit loans don’t exist.

Are Bad Credit Installment Loans No Credit Check?

All legit personal loans are credit checks. Payday loans can be no credit checks, but we don’t recommend them. In fact, there are some installment loans no-credit-check. Typically, when the amount is low, lenders can provide you with test installment loans no-credit-check.

Examples of guaranteed installment loans no-credit-check:

• Alternative payday loans.
• Personal installment loans from online lenders.
• Borrowing from friends or family.
• Secured credit cards.
• Getting a cosigner for an unsecured loan.
• Loan apps.
• Buy now, pay later.

Note: Be careful. If you see a big personal loan with no credit check, this can be scam.

Are There Installment Loans with Bad Credit from Direct Lenders?

Most lenders that are in our list are actually non direct lenders.

Many people search for installment loans for bad credit from direct lenders thinking that direct lender loans are cheaper and don’t have an upfront fee. But that’s not always the truth.

In fact, most lenders on our list above are non direct, have no upfront fee and could be cheaper that most direct lenders in many cases.

We searched many companies online and about 99% of these direct lenders for bad credit that we found were payday lenders. These are loans that offer APR, averaging at 400%, which we wouldn’t recommend to anyone. Now,  here is the heck, payday lenders promote them as bad credit  direct lenders; which they are. But what they didn’t tell you is that there are many better options, times cheaper than payday loans.

Personal loans for bad credit offer loans and are capped at 35.99%. They can be both direct and non direct lenders. Instead, search for personal loans.

For instance, loan comparison site that offers a personal installment loan for bad credit of 30%, with a payday of 400%. Which one would you prefer?

How to Find the Best Direct or Non Direct Loan?

Firstly, shop around. Don’t go with lenders only because they are direct. Shop around and pick the best offer.

In addition, compare direct and non direct lenders. Compare lenders, credit unions, banks and all that you know. Don’t worry that lenders are non direct. Non direct lenders can be cheaper in some cases.

In fact, loan comparison sites connect you with many lenders, both direct and non direct. Thus, you can find the best offer for you.

In addition, legit loan comparison sites, restrict lenders to offer loans of over 35.99%.

And all on our list have no upfront fee. In fact, they get fee from the lenders if the loan is approved.

Also, when you shop around with direct lender, you go to them and you receive only one offer. With loan comparison site, you receive instantly multiple offers from different lenders with one application only.

What are Tribal Installment Loans?

Tribal installment loans are a type of loan offered by some Native American tribes. These loans are typically available to members of the tribe, but some lenders may offer them to non-tribal members as well.

Tribal installment loans usually have more relaxed requirements than other types of loans so that they may be a good option for people with bad credit. However, not all tribal installment loans are created equal. Some may have higher interest rates and fees than others, so it’s important to compare offers from several lenders before choosing one.

Additionally, many tribal installment loans are not available in all states. Some states have laws that prohibit or restrict these types of loans. Be sure to check the laws in your state before applying for a tribal installment loan.

Are Tribal Installment Loans for Bad Credit Legit?

Yes. Tribal installment loans for bad credit are legit. These loans are typically available to members of the tribe, but some lenders may offer them to non-tribal members as well.

Tribal installment loans usually have more relaxed requirements than other types of loans so they may be a good option for people with bad credit. Legit tribal installment loans for bad credit will typically have lower interest rates than loans that don’t require collateral.

Nonetheless, legit tribal installment loans for bad credit may have higher interest rates and fees than other types of installment loans.

How We Pick These Lenders?

We selected the best legit installment loans for bad credit in September 2026 based on the best APRs, terms, and fees. We also looked at the reputation and legitimacy of the companies, as well as their customer service and transparency.

For each legit installment company, we considered:

• The fees they charge
• The types of loans they offer
• The minimum and maximum loan amounts
• The length of time you have to repay the loan
• The interest rates they charge
• Whether or not they require collateral

Nonetheless, the installment loans on this list are legit. We believe they offer the best combination of low fees, high maximum loan amounts, and flexible repayment terms for people with bad credit.

These lenders may be a good option if you need an installment loan but don’t have great credit. Remember that while we strive to give you the most accurate information possible, rates, terms, and availability of products may change at any time without notice.

Conclusion

Taking an installment loan is a big decision. Weigh the pros and cons of taking one before you apply. Also, compare offers from several lenders to make sure you’re getting the best deal possible.

Remember that while we strive to give you the most accurate information possible, rates, terms, and availability of products may change at any time without notice.

Our marketplace provides you with all the information you need to find a legit installment loan that fits your needs. Our goal was to provide the most current and accurate information possible. Lender-provided information/policies are subject to change; nevertheless, we ensure that all information is updated on a regular basis. When it comes to your finances, we never cut corners.