Getting a Personal Loan

Establishing and maintaining good credit helps make it possible to get extra money when you need to pay off high interest credit cards, make home improvements or finance a major purchase.

How can my credit help me get money when I need it?

Personal loans are a popular and flexible financial tool to help you get money when you need it. The better your credit the easier it will be to get a low rate with fixed monthly payments.

See what a lender sees when you apply for a personal loan.

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What to Expect Based on Your Credit Score

Under 640

  • May be challenging to get qualified
  • May be limited to loans from your bank that are secured with a car or home
  • May only qualify for small loan amounts and be asked to provide extra documentation
  • May be required to pay higher rates


  • Have a good chance at getting approved
  • Should have access to both unsecured and secured loan options
  • Should experience a simpler application process and be asked to provide only limited documentation
  • May be able to secure lower rates

720 and up

  • Considered an ideal applicant
  • Should receive the best rates and a wide range of options
  • Should be eligible for larger loan amounts
  • Should have an easy approval and quick access to cash

Most Popular Reasons People Get a Personal Loan

Debt Consolidation


Pay down your high interest debt - or pay it off - with a low fixed monthly payment.

Home Improvement


Get cash for home repairs, remodeling projects and more without using the equity in your home.

Finance a Big Purchase


Whatever major expense you have planned, personal loans can provide you with the capital you need to buy the stuff you want.

Tips When Applying for a Personal Loan:

  • Know your credit. Higher credit scores and shorter term loans may increase your chances of securing the best rate.
  • Understand the fees. Check for hidden fees and make sure you have the flexibility to pay off the loan early without penalty.
  • Consider All Your Options. Unlike traditional bank loans, peer to peer lending offers personal loans with a fixed monthly payment that avoid cost and complexity and keep things simple, so the savings get passed on to you.