What is the longest repayment term available on a personal loan?

Typical term ranges by lender type:

Online lenders: 24-84 months (2-7 years) is most common. LightStream extends to 144 months (12 years) for home improvement loans over $25,000.

Credit unions: 12-60 months most common; some go to 84 months.

Banks: 12-60 months typical.

The interest math on long terms: On a $20,000 loan at 10% APR: 36-month term = $645/month, $3,220 total interest. 84-month term = $330/month, $7,720 total interest. The 84-month term saves $315/month but costs $4,500 more in total interest.

When a longer term makes sense: (1) Cashflow is the constraint - you genuinely cannot afford the higher monthly payment of a short term. (2) You plan to pay it off early (no prepayment penalty) - take the longer term for flexibility, pay more when you can. (3) The rate difference between short and long terms is negligible at your lender.

Prepayment penalties: Most online lenders charge no prepayment penalty. Always verify. If there is no penalty, a longer term just gives you a lower minimum payment; you can still pay it off early.

Impact on approval: Longer terms mean lower DTI impact from the monthly payment, which can help approval odds. Lenders sometimes offer longer terms to reduce per-payment risk.