Best Personal Loans for Good and Bad Credit in New York of October 2024
There is no shortage of legit funding sources in New York, with the main draws being online lenders, banks, and credit unions. Each lending institution has its eligibility requirements, APRs, borrowing terms, and max loan amount limits for borrowers of all types, from no/limited credit to stellar 700+ credit score holders.After researching a little more than 100 NY-based lenders (~80 small/medium/large banks, ~40 credit unions, and ~15 online lending platforms) and carefully examining their pros, cons, amount, APR, terms, credit scores, and overall performance, we put the best below:
| Lender: | Loan Amount: | APR: | Min. Credit Score: | Best For: |
|---|---|---|---|---|
| NextDayPersonalLoan | $100 – $40,000 | 5.99% – 35.99% | 0 | Bad credit |
| LifeLoans | $100 – $40,000 | Not Listed | 0 | Bad credit |
| Upstart | $1,000 – $50,000 | 4.6% – 35.99% | 300 | Low credit scores, high DTI ratios |
| SoFi | $5,000 – $100,000 | 5.74% – 20.28% | 680 | No-fee unsecured loans |
| Upgrade | $1,000 – $50,000 | 8.49% to 35.99% | 560 | No prepayment fees on an unsecured loan |
| ZippyLoan | $100 – $15,000 | 12.00% – 35.99% | 0 | Bad or no credit |
| Citibank | $600 – $50,000 | 9.99% to 23.99% | Undisclosed | Citibank customers |
| Santander Bank | $5,000 – $50,000 | As low as 6.99% | Undisclosed | Santander Bank customers |
| Wells Fargo | $3,000 – $100,000 | 5.74% – 19.99% | 660 | Wells Fargo customers |
| Alliant Credit Union | $1,000 to $50,000 | 6.24% – 27.24% | 640 | People who prefer online-only banks |
| PenFed | $600 – $50,000 | 7.74% – 17.99% | 610 | PenFed customers |
Those who want to find all loans in one place can visit our marketplace:
ElitePersonalFinance allows you to compare quotes from multiple lenders. Make a well-informed decision with insights from our top finance experts from ElitePersonalFinance.
Why Trust ElitePersonalFinance Guides?
ElitePersonalFinance’s guides are a by-product of extensive research and hands-on testing, written and verified by staff with more than ten years in the industry.
We constantly compare terms, rates, APRs, and fees from multiple lenders, providing only the most up-to-date information on our publication. Therefore, only reputable companies have a chance of being featured (goodbye, payday and outrageously high APR lenders!)
Know a lender not listed here that you highly recommend? Then, contact one of our ElitePersonalFinance experts by emailing – and lend us a hand!
NextDayPersonalLoan
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| Loan Amount: | $100 – $40,000 |
| APR: | Not Listed |
| Min. Credit Score: | Not Listed |
| Approval: | 1 – 7 Days |
| Terms: | Not Listed |
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| Best For: | Comparing bad credit loans |
| Check rates | |
NextDay is an excellent choice for bad credit, fair credit, good credit, and excellent credit New Yorkers looking to comparison shop hundreds of lenders to find the right personal loan for all types of expenses, such as unexpected medical bills and home improvement projects.
Unlike direct lenders, Nextday is an online marketplace acting as an intermediary. Participating lenders in its network offer loans from $100 to $40,000 with varying APRs and approval times of 1 to 7 business days. Origination, prepayment, and late payment fees vary by lender.
To qualify for a NextDay loan, you must be at least 18 years old with recurring employment income and a completed online application through NextDay’s online portal.
Pros:
- Soft inquiry
- Loans from $100 to $40,000
- Easy-to-use interface
- Good source of small loans (as little as $100)
Cons:
- Not a direct lender
- Highest APR loans match that of some payday loans
- Origination, prepayment, and late payment fees vary by lender
The impact of COVID-19:
Since NextDay is not a direct lender, all hardship and forbearance options are managed by each participating lender. Please call or refer to the lender’s website for more information. If you need assistance, NextDay can be reached by phone at 866-829-4551.
LifeLoans
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| Loan Amount: | $1,000 – $40,000 |
| APR: | 7.46% – 35.97% |
| Min. Credit Score: | 560 |
| Approval: | 1 Day |
| Terms: | 2 – 7 Years |
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