Personal loans for good credit

Borrowers with good credit typically see advertised APRs from 8.99% to 18.99%. The exact rate depends on income, existing debt, and other factors.

If the rates you see are high, consider whether you can wait and improve your credit, or whether a co-signer could help you qualify for a lower APR.

Between 690 and 719 you will have real choice, but you are unlikely to be offered the headline rate a lender advertises. Those minimums are reserved for the strongest files, typically with long credit histories and low utilisation.

Small improvements move the needle noticeably in this band, because you are close to the threshold where the best pricing begins.

None of these are instant, but each one moves the APR a lender will quote someone with good credit.

• Bring revolving utilisation below 30%, and ideally below 10%, before applying
• Avoid opening new accounts in the months before you apply
• Check your credit reports for errors and dispute anything inaccurate
• Keep older accounts open to protect your average account age

Most personal loans from our lending partners are unsecured and fixed rate. With no collateral involved, the lender prices the loan almost entirely on how likely it believes you are to repay. That judgment is built from your credit history, your income relative to your existing debt, how long you have been employed, and the amount and term you ask for.

Personal loans can also be secured by collateral, such as a motor vehicle. Pledging collateral can support a larger amount or a lower rate, but it puts the vehicle at risk if the loan is not repaid. Secured options vary by lender and may not be available through the lenders currently listed here.

The number that matters is the APR, not the interest rate. APR folds in the interest rate plus any origination fee, so it is the only figure that lets you line two offers up fairly. A loan quoted at a lower interest rate can easily cost more once a 6% origination fee is deducted from the money you actually receive.

• Credit history and score band: the single biggest driver of the rate you are offered
• Debt-to-income ratio: monthly debt payments measured against gross monthly income
• Loan amount and term: longer terms usually carry higher rates
• Income stability: length of employment and whether income is verifiable
• Whether the loan is secured: collateral can lower the rate a lender is willing to offer
• State of residence: not every lender lends in every state