What credit score do you need for a personal loan?

Online installment lenders. Typical floor around 580 FICO. Lenders that explicitly serve fair credit (LendingClub, Upgrade, Best Egg, Avant) accept applicants from 580 up. Subprime online lenders go lower, sometimes to 540 or below, with APRs at the legal cap.

Banks. Typical floor 660-680. Big-bank personal loans (Wells Fargo, US Bank, Discover) want established credit history alongside the score. A 660 FICO with thin credit file may still get declined.

Credit unions. Floor varies widely. Some credit unions consider applicants below 600 if they have an existing membership relationship. Federal credit unions can offer Payday Alternative Loans capped at 28% APR for members regardless of score.

Fintech lenders using alternative data. Some lenders (Upstart, Petal) weight education, employment history, and bank-transaction data alongside credit. A 600 FICO with strong income and a stable bank record may qualify here when traditional lenders decline.

These ranges reflect current market conditions and assume an established credit file. A thin file (under 4 accounts, under 2 years history) typically sees APRs 2 to 5 points higher than these ranges at the same score.

760+ (exceptional): 5.99% to 9.99% APR, minimal origination fees, top loan amounts.

740-759 (very good): 6.99% to 11.99% APR, low or no origination fee.

700-739 (good): 8.99% to 15.99% APR, origination fees 0% to 3%.

670-699 (good): 11.99% to 19.99% APR, origination fees 3% to 6%.

640-669 (fair): 15.99% to 24.99% APR, origination fees 4% to 8%.

620-639 (fair): 19.99% to 29.99% APR, full origination fees common.

580-619 (fair, lower end): 24.99% to 32.99% APR, fees at the upper end.

Below 580 (subprime): rates at or near 35.99% legal cap, smaller amounts, shorter terms.

Two borrowers with the same FICO score can see APRs 5 points apart from the same lender. The score is one input among many.

Income and debt-to-income ratio. The lender wants to see that the new payment doesn't push your total debt service above ~40% of gross monthly income. Borrowers with strong income at the same score get better rates because the payment is less of a stretch.

Length of employment. Two years at the current employer is the typical sweet spot. Recent job changes can pull rates higher even at the same score.

Loan amount and term. Smaller loan amounts at shorter terms typically come with lower APRs (the lender's risk per dollar lent is lower).

Automatic payment enrollment. Many lenders offer 0.25% to 0.50% APR discount for autopay enrolment.

State of residence. State APR caps mean two identical borrowers in different states see different offers. California, Arkansas, Arizona, and others have meaningful caps.

Pre-qualification first. A soft credit pull tells you whether any lender will consider you without affecting your score. If you get pre-qualified offers, even at the top of the APR range, you have options.

Add a co-signer with strong credit. A co-signer with a 720+ FICO can shift the loan to that co-signer's pricing tier. They take on full repayment responsibility, so this only works with someone who fully understands and accepts the commitment.

Wait and improve the score. Even 30 to 60 days of focused effort (paying down revolving balances, disputing errors) can move a borderline score across a tier line. The savings on a multi-year loan often dwarf the wait.

Secured personal loan or credit-union PAL. Secured loans backed by a vehicle or savings account come with lower APRs and looser credit standards. Federal credit-union Payday Alternative Loans cap at 28% APR and are designed for borrowers shut out of mainstream credit.