Best personal loans for a 600 credit score of December 2023 (2024)

Finding personal loans for a 600 credit score may be a challenge, but many lenders work with borrowers who have fair or poor credit.

Just keep in mind that qualifying for the best rates will be more difficult if you have fair credit. You’ll need to shop around and compare rates and terms to find a loan that will work for your unique financial needs.

Is it possible to get a personal loan with this credit score?
Best lenders for a 600 credit score
How to apply for a loan
Review loan fees, repayment terms
Frequently asked questions

Is it possible to get a personal loan with a 600 credit score?

It’s possible to get a personal loan when you have a credit score of 600. In fact, several lenders specialize in offering fair credit loans.

Keep in mind that with a lower credit score, lenders may consider you as more of a risky bet to pay off your debt. Because of this, you’ll likely have to pay higher interest rates than you would with a higher credit score.

Here’s an example to illustrate how having a lower credit score — and therefore a higher APR — can increase the cost of personal loan repayment: Let’s assume you plan to borrow $10,000 and repay it over three years…

APR	Monthly payment	Total cost
10%	$323	$11,616
15%	$347	$12,480
20%	$372	$13,379

If you’re struggling to qualify for a personal loan, consider applying with a cosigner with good credit to increase your chances of getting approved. This could even help get you a lower interest rate than you’d get on your own.

You can add any willing cosigner to your personal loan application. But be aware that cosigners assume equal responsibility for repayment, so if you struggle to keep up with your monthly dues, it would negatively impact your cosigner’s credit, too. Understanding the obligations — and risks — of cosigning is critical before you apply for a loan.

Best personal loans for a 600 credit score

Here are Credible’s partner lenders that offer personal loans for borrowers with credit scores in the 600s:

Avant

Best for: Borrowers with lower credit scores

Avant is an online lender that strives to improve the borrowing experience for the middle class. The lender has provided funding to more than 2 million borrowers. Avant’s personal loans are accessible to borrowers with lower credit scores and, if approved, funds can be deposited into your account as quickly as the next business day.

Avant might be a solid choice if you need to cover a small expense, with loan amounts that start at $2,000 in most states. You can also manage your loan using Avant’s mobile app. However, Avant charges fees, and it may not be available in your state.

Interest rates: 9.95% to 35.99%; fixed
Loan amounts: $2,000 to $35,000; minimum of $6,400 in Massachusetts
Loan terms: 1 to 5 years
Minimum credit score: 580
Loan types: Emergency, debt consolidation, medical, home improvement; secured and unsecured
Funding time: As soon as the next business day after approval
Eligibility: Must be at least 18 years old (19 if you live in Alabama); must have a personal bank or credit union account; must be able to provide proof of income and identity; must not live in HI, MA, ME, NY, VT, or WV; must have a monthly income of at least $1,200
Fees: Administration fee of up to 4.75%; late fee of $25; returned payment fee of $15
Cosigner acceptance: No
BBB rating:A

Pros:

Fast funding
Wide range of repayment terms
No prepayment penalties
Convenient mobile app

Cons:

Charges an administration fee
Low maximum loan amount
Not available in all states
Doesn’t accept cosigners
Doesn’t disclose many eligibility requirements on website
Doesn’t offer discounts

Best Egg

Best for: Home improvement and debt consolidation

Best Egg offers unsecured and secured personal loans that are accessible to borrowers with fair credit. If you qualify, you can receive funds as soon as the next business day. The direct lender might be a fit if you need to consolidate debt — if you allow Best Egg to send funds directly to your creditors, you may qualify for a lower rate.

However, loans for Best Egg aren’t available in all states. The direct lender also charges an origination fee that can be high, and Best Egg has limited options for repayment terms.

Interest rates: 8.99% to 35.99%; fixed
Loan amounts: $2,000 to $35,000 (up to $50,000 depending on your state, and in special circ*mstances); $6,500 minimum in MA; $5,000 minimum in OH; $3,000 minimum in GA
Loan terms: 3 to 5 years
Minimum credit score: 640
Loan types: Debt consolidation, moving, adoption, credit card refinancing, home improvement, vacation; secured and unsecured
Funding time: As soon as the next business day
Eligibility: Must be a U.S. citizen or permanent resident; must be at least 18 (or the legal age to accept a loan in your state); must have verifiable checking account with a routing number; must have a valid email; must have physical address; must not live in DC, IA, VT, or WV
Fees: Origination fee of 0.99% to 8.99% of the loan amount; returned payment fee of $15; no prepayment penalties
Cosigner acceptance: No
BBB rating: A+

Pros:

Fast funding
Wide range of loan amounts
No prepayment penalties
Offers direct pay discount

Cons:

High minimum loan amount in some states
Few options for repayment terms
Charges fees
Not available in all states
Doesn’t accept cosigners

Discover

Best for: Longer repayment periods

Happy Money

Best for: Consolidating credit card debt

Happy Money offers a personal loan specifically designed to help you repay credit card debt. You can apply for what it calls the The Payoff Loan — once you’re approved, you can either have the money deposited into your bank account or applied directly to your credit cards.

The Payoff Loan comes in amounts ranging from $5,000 to $40,000, with terms spanning two to five years. You may qualify with fair credit, depending on your debt-to-income ratio and your credit history.

Interest rates: 10.50% to 29.99%; fixed
Loan amounts: $5,000 to $40,000; minimum $5,100 in NM and $6,100 in MD
Loan terms: 2 to 5 years
Minimum credit score: 640
Loan types: Credit card debt consolidation
Funding time: 3 to 6 business days after signing loan documents
Eligibility: Be at least 18 years old; have a valid Social Security number; have a valid checking account; have zero delinquencies; have at least 3 years of established credit; not available in MA or NV
Fees: Origination fee of 0% to 5%; no prepayment or late fees
Cosigner acceptance: No
BBB rating: A+

Pros:

Option to pay off your credit card issuers directly
No late fees or prepayment penalty
Willing to work with borrowers facing financial hardship

Cons:

Charges an origination fee
Long approval and funding times
Not available in MA, NV
Requires at least fair credit
No rate discounts

LendingClub

Best for: Direct payment to creditors

LendingClub could be a worthy option if you want to apply for a joint loan with a co-borrower. Adding a co-borrower to your application can improve your chances of approval, especially if you don’t have the best credit.

LendingClub also offers a grace period for late payments — you have 15 days to make your payment before being charged a late fee. On the downside, funding may take a bit longer with LendingClub, as it can take up to a week to receive your loan funds after you’ve been approved.

Interest rates: 9.57% to 36.00%; fixed
Loan amounts: $1,000 to $40,000
Loan terms: 3 to 5 years
Minimum credit score: No minimum credit score
Loan types: Debt consolidation, home repairs, medical bills, and more
Funding time: 2 to 7 business days after approval
Eligibility: Be a U.S. citizen or resident; be at least 18 years old; have a verifiable bank account
Fees: Origination fee of 3% to 6%; no prepayment penalties; late fees may apply
Cosigner acceptance: No; accepts co-borrowers
BBB rating: A

Pros:

No minimum credit score requirement
May be approved within a few hours
Allows joint loans
Low minimum loan amount
Late payment grace period

Cons:

Charges an origination fee
Doesn’t accept cosigners
Few repayment term options
Relatively longer time to funding

LightStream

Best for: Large loans and same-day funding

LightStream is an online platform that offers loans to individuals with good-to-excellent credit profiles. Unlike some lenders, LightStream offers benefits like an autopay discount. When you sign up for automatic payments prior to loan funding, you can qualify for a 0.50 percentage point discount on your interest rates.

In addition, LightStream has a convenient mobile app that makes it easy to check your loan balance and make payments. However, the lender has a high minimum loan amount, so if you only need a small loan, you’ll need to look elsewhere.

Interest rates: 7.49% to 24.49% (with autopay); fixed
Loan amounts: $5,000 to $100,000
Loan terms: 2 to 12 years
Minimum credit score: Does not disclose
Loan types: Home improvement, debt consolidation, medical expenses, weddings, auto loans, and more; unsecured
Funding time: As soon as the same day
Eligibility: Must have good credit; must have sufficient income to support your existing debts and loan amount; must have a valid Visa or Mastercard
Fees: None
Cosigner acceptance: No; co-borrowers accepted
BBB rating: A+

Pros:

Fast funding
High maximum loan amount
Long repayment terms
No fees

Cons:

OneMain Financial

Best for: Secured loans

With over 100 years of industry experience, OneMain Financial is an established source for personal loans. Its loan process typically only takes one day, though this varies based on when you submit your application and other factors.

If you’re looking for a more personal touch, OneMain also offers the option to speak to one of its loan specialists over the phone or at a local branch. It also offers a low minimum loan amount, which is ideal if you’re looking for a small loan. On the downside, its interest rates aren’t competitive for borrowers with good credit.

Interest rates: 18% to 35.99%; fixed
Loan amounts: $1,500 to $20,000
Loan terms: 2 to 5 years
Minimum credit score: None
Loan types: Debt consolidation, weddings, medical expenses, emergencies, moving, vacations, home improvement, and more; unsecured and secured
Funding time: As soon as the next business day
Eligibility: Must have a Social Security card, valid government-issued ID, proof of income, and proof of residency
Fees: Origination fee of $25 to $500, or 1% to 10% of your loan amount (depending on your state); late payment fee of $5 to $30, or 1.5% to 15% of your monthly payment or the delinquent portion of your monthly payment; non-sufficient funds fee of $10 to $50 (in select states)
Cosigner acceptance: No; co-borrowers accepted
BBB rating: A+

Pros:

Fast funding
No minimum credit score
Flexible loan terms
Offers secured loans

Cons:

Charges expensive fees
Limited borrowing amounts
Doesn’t disclose many eligibility requirements

PenFed

Best for: Small loan amounts

Because PenFed is a nonprofit credit union, it’s able to offer lower interest rates than some lenders.

You don’t need to be a member to apply for a loan at PenFed. However, once you decide to go ahead with a loan, you’ll need to become a member. This is a simple process that only takes a few minutes.

PenFed can be a great option if you need a small loan, since its minimum loan amount is just $600. However, the lender doesn’t disclose many of its eligibility requirements online, which can make it difficult to determine if you’ll qualify for a loan before applying.

Interest rates: 7.74% to 17.99%; fixed
Loan amounts: $600 minimum to $50,000
Loan terms: 1 to 5 years
Minimum credit score: Does not disclose
Loan types: Debt consolidation, home improvement, transportation, medical and dental expenses, weddings, and more; unsecured
Funding time: 1 to 7 business days
Eligibility: Must provide proof of income; must have a Social Security card, utility bill, passport, or copy of a valid government-issued ID for proof of identity
Fees: Late fee of $29; no origination fees or prepayment penalties
Cosigner acceptance: No; co-borrowers accepted
BBB rating: A+

Pros:

Competitive interest rates
Small minimum loan amount
No origination fees or prepayment penalties
Accepts co-borrowers

Cons:

Must be a member to receive loan funds
Doesn’t disclose many eligibility requirements
Charges late fees

SoFi

Best for: Co-borrowing

SoFi offers personal loans up to $100,000, making it a worthwhile option for borrowers who need large loan amounts for home improvement projects, wedding costs, or other needs. SoFi can also fund your loan the same day you’re approved.

SoFi’s website states that you can check your rate online in just 60 seconds, with no impact on your credit score. And you don’t have to worry about how you’ll repay your loan if you’re laid off; if you’re approved for SoFi’s Unemployment Protection, the lender will modify your payments for up to 12 months and will help you find a new job, too.

Interest rates: 8.99% to 25.81%; fixed
Loan amounts: $5,000 to $100,000
Loan terms: 2 to 7 years
Minimum credit score: Does not disclose
Loan types: Credit card consolidation, home improvement, wedding, relocation, vacation, medical expenses; unsecured
Funding time: As soon as the same day you sign your loan agreement
Eligibility: Must be at least 18 years old (or age of majority in your state); must be a U.S. citizen, eligible permanent resident, or non-permanent resident alien; must reside in a state where SoFi is authorized to lend; must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days
Fees: None
Cosigner acceptance: No; co-borrowers accepted
BBB rating: A+ (not BBB-accredited)

Pros:

Large loan amounts
Fast funding
No fees

Cons:

High minimum loan amount
Doesn’t disclose minimum credit score
Doesn’t accept cosigners

Upgrade

Best for: Fast loan decisions

If you have fair credit but need funds fast, Upgrade could be the right choice. They fund loans within a day, and determine your eligibility for a loan based on multiple aspects of your credit profile, rather than just your credit score.

Pros:

Flexible loan terms (up to seven years)
Free credit monitoring
560 minimum credit score

Cons:

Origination fees from 1.85% to 8.99%
Doesn’t disclose minimum income requirements

Upstart

Best for: Borrowers with little or no credit history

At Upstart, borrowers with poor credit or no credit at all can still qualify for a personal loan to meet their needs. Upstart’s lending model uses factors beyond your credit score — like your education and employment history — when determining loan approval.

With loan amounts as low as $1,000 and as high as $50,000, Upstart’s personal loans can help you consolidate your debt, cover unexpected medical bills, or finance home upgrades and repairs.

According to Upstart’s website, it only takes five minutes to check your rate. However, you won’t be able to apply with a cosigner, and your loan may come with an origination fee of up to 12% of the loan amount.

Interest rates: 4.6% to 35.99%; fixed
Loan amounts: $1,000 to $50,000
Loan terms: 3 years or 5 years
Minimum credit score: 300 (or no credit score at all)
Loan types: Debt consolidation, medical expenses, home improvement, moving costs, education expenses, vacations, weddings; unsecured
Funding time: As soon as 1 business day after acceptance
Eligibility: Must be at least 18 years old; must be a U.S. citizen currently living in the U.S. (except active-duty military personnel); must have a valid email address; must have a verifiable name, date of birth, and Social Security number; must have a full-time job, a full-time job offer starting in 6 months (except if accepted to a partner bootcamp and seeking employment after graduation), a regular part-time job, or another source of regular income; must have a valid bank account at a U.S. financial institution with a routing transit number; must meet minimum credit requirements
Fees: Origination fee of 0% to 12%; late fee of 5% of the unpaid amount or $15, whichever is greater; ACH return or check refund fee of $15; paper copies fee of $10; no prepayment fee
Cosigner acceptance: No
BBB rating: A+

Pros:

Available to borrowers with bad credit or no credit
Wide range of loan amounts
Fast funding

Cons:

Limited repayment term options
Charges origination and other fees
Doesn’t accept cosigners

Methodology

To find the “best companies,” Credible looked at loan and lender data points from 10 categories to give you a well-rounded perspective on each of our partner lenders. Here’s what we considered:

Interest rates
Repayment terms
Repayment options
Maximum loan amount
Loan funding time
Fees
Discounts
Customer service availability
Whether the minimum credit score is available publicly
Whether consumers could request rates with a soft credit check

How to apply for a loan with a 600 credit score

Applying for a personal loan can be simple, and many lenders let you fill out an application online. Follow these steps to apply for a loan:

Check your credit score: It’s a good idea to know where your credit stands before you apply for a personal loan. You can use AnnualCreditReport.com to check your credit report for free with each of the three main credit bureaus (Equifax, Experian, and TransUnion). Be sure to check for any errors and dispute them with the appropriate bureau to potentially boost your score.
Compare lenders and loan options: Once you know where your credit stands, it’s a good idea to shop around and compare as many lenders as possible. This will help you get an idea of what rates and terms you’ll qualify for.
Select the right fit: When comparing lenders, consider not only interest rates and repayment terms, but also any fees the lender charges. It’s also wise to use a personal loan payment calculator to confirm your potential loan payments would fit within your monthly budget.
Fill out the loan application and get approved: After you find the right lender for your unique financial situation, it’s time to submit an application. Lenders may ask for basic information like your name and address, as well as financial information, such as pay stubs or tax returns.
Sign your loan agreement: Once the lender approves your loan application, you’ll sign a loan agreement. The loan agreement outlines how much you’re borrowing and when you agree to pay it back.
Receive your funds: After you sign your loan agreement, the lender will release your money to you (usually via direct deposit) or, in some cases for debt consolidation, directly to your creditors. Many lenders are able to fund personal loans within one to three business days after approval, but others may take up to a week.

Review personal loan fees and repayment terms

When you take out a personal loan, consider all of the costs associated with borrowing. There’s the principal balance, which is the amount you borrow, and the interest, which is the monthly cost of borrowing.

Before you apply for a personal loan, be sure to check for any additional fees the lender charges. Other fees might include:

Application fee
Administration fee
Origination fee
Payment processing fee
Late fee
Returned check fee
Prepayment penalty

You can use a personal loan calculator to estimate how much you’ll pay for a personal loan. Create or fine-tune your overall budget to confirm that your prospective personal loan payment wouldn’t strain your finances.

Frequently asked questions about loans with 600 credit score

How much can I borrow with a 600 credit score?

The amount you can borrow will vary by lender, but you can typically take out a loan between $1,000 and $50,000 with a 600 credit score. Keep in mind that the more you borrow, the more you’ll pay in interest. Make sure to only borrow what you need — and can afford to repay.

Can I get a debt consolidation loan with a 600 credit score?

Yes, you can get a debt consolidation loan when you have a 600 credit score. In fact, consolidating your debt and simplifying your payments might help you improve your credit. Look for lenders who work with fair credit borrowers, and keep in mind that you might have to pay higher interest rates than someone with good credit.

Is it better to raise my 600 credit score before applying for a personal loan?

You don’t need to wait to have the perfect credit score before you apply for a loan. But you’ll qualify for better rates and terms if you can raise your score to 670 or higher.

If you can wait to take out a personal loan, it may be worth it to take the time to improve your credit before applying. You can improve your credit score by paying down existing debts, making all of your payments on time, and disputing any errors on your credit report (such as incorrect balances or charge-offs) with the appropriate credit bureau.

You can also consider applying for a personal loan with a creditworthy cosigner to increase your chances of getting your application approved. Even if you don’t need a cosigner to qualify for a loan, you might be able to get a better interest rate than you’d get on your own.

What do lenders consider when evaluating a potential borrower with a 600 credit score?

While reviewing your credit report, lenders may also look at your debt-to-income ratio, credit history, number of open accounts, and recent credit activity. Whether you apply with a cosigner or co-borrower can influence their decision as well.