The best installment loans in October 2021

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Update

Best for installment loans for fair loans

5.94 – 35.47%

Upgraded personal loans have an annual percentage rate of 5.94% to 35.47%. All personal loans have a 2.9% to 8% processing fee that is deducted from loan proceeds. The lowest interest rates require autopay and the direct repayment of part of the existing debt. For example, if you received a $ 10,000 loan with a term of 36 months and an APR of 17.98% (including an annual rate of 14.32% and a one-time commitment fee of 5%), you would receive $ 9,500 on your Account and would have a required monthly payment of $ 343.33. Over the life of the loan, your total payments would total $ 12,359.97. The APR on your loan can be higher or lower, and your loan offers may not have multiple terms. The actual interest rate will depend on creditworthiness, credit history, loan duration, and other factors. Late payments or subsequent fees and charges can add to the cost of your fixed rate loan. There are no fees or penalties for repaying a loan early. Personal loans issued by Upgrade’s credit partners. Information on Upgrade’s rental partners can be found at https://www.upgrade.com/lending-partners/. Accept your loan offer and your funds will be returned to your bank or designated account within one (1) business day of the completion of required verifications. Fund availability will depend on how quickly your bank processes the transaction. Funds should be available within four (4) business days from the date of approval. Funds sent direct to pay off your creditors can take up to 2 weeks to complete depending on the creditor.

$ 1,000- $ 50,000

560

upstart

upstart

Best for installment loans for thin credit history

4.37 – 35.99%

The full range of tariffs available varies by state. The average 3 year loan offered by all lenders using the Upstart platform has an APR of 21.97% and 36 monthly payments of $ 35 for every $ 1,000 borrowed. For example, the total cost of a $ 10,000 loan is $ 12,646 including a $ 626 service fee. The APR is calculated based on the 3-year rates offered in the last 1 month. There is no down payment and no early repayment penalty. Your APR is determined based on your creditworthiness, income, and certain other information on your loan application. Not all applicants will be admitted.

$ 1,000- $ 50,000

580

Lending Club

Lending Club

Best for jointly signed installment loans

7.04-35.89%

A representative example of loan payment terms is as follows: You receive a loan of $ 13,411 for a period of 36 months with an interest rate of 12.16% and a processing fee of 5.30% of $ 711 for an APR of 15, 99%. In this example, you receive $ 12,700 and make 36 monthly payments of $ 446.46. Loan amounts range from $ 1,000 to $ 40,000 and the repayment term is 36 months or 60 months. Some amounts and terms may not be available in certain states. The effective annual interest rate is between 7.04% and 35.89% and is determined at the time of application. The issuing fee is between 3% and 6% of the loan amount. The lowest APR is available to borrowers with excellent credit ratings. The stated prices and fees apply from July 21st. and are subject to change without notice. Loans are made by LendingClub Bank, NA, a member of FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans require credit approval and sufficient investor approval before they can be funded or issued. Certain information we subsequently receive as part of the application process (including, but not limited to, information in your consumer report, your income, the loan amount you requested, the purpose of your loan and qualifying debts) will be taken into account and may affect your ability to take out a loan from us. The completion of the loan is subject to acceptance of all required agreements and disclosures on Lendingclub.com. “LendingClub” is a brand of the LendingClub Bank.

$ 1,000- $ 40,000

600

Navy Federal Credit Union Personal Loan

Navy Federal Credit Union Personal Loan

on the secure website of NerdWallet

Best for installment loans from a credit union

7.49 – 18.00%

$ 250- $ 50,000

None

See my prices

on the secure website of NerdWallet

PNC Bank personal loan

PNC Bank personal loan

on the secure website of NerdWallet

Best for installment loans from a bank

5.99 – 28.74%

This APR includes an Autopay discount.

$ 1,000- $ 35,000

None

See my prices

on the secure website of NerdWallet

RocketLoans

Rocket loan

on the secure website of NerdWallet

Best for installment loans for good credit

5.97 – 29.69%

All personal loans are provided by Cross River Bank, a state-approved commercial bank of New Jersey, a member of the FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. The creditworthiness is not guaranteed. Please refer to our Disclosures and Licenses page for the disclosures, licenses, and borrowing restrictions required. The borrower must be a U.S. citizen or a foreign resident of the United States who is at least 18 years old (in Nebraska and Alabama, a borrower must be at least 19 years old). All loan applications are subject to credit checks and approval. The loan terms offered depend on your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest plan, you must have excellent credit, meet certain conditions, and select automatic payment. Prices and conditions can be changed at any time without prior notice. Additional terms can be found at RocketLoans.com and in our Terms of Use.

$ 2,000- $ 45,000

640

See my prices

on the secure website of NerdWallet

Universal credit

Universal credit

on the Universal Credit website

Best for installment loans with poor creditworthiness

8.93-35.43%

Personal loans made through Universal Credit have an annual percentage rate of 8.93% to 35.93%. All personal loans have a 4.25% to 8% processing fee that is deducted from loan proceeds. The lowest interest rates require autopay and the direct repayment of part of the existing debt. For example, if you received a $ 10,000 loan with a term of 36 months and an APR of 27.65% (including an annual rate of 22.99% and a one-time processing fee of 6%), you would receive $ 9,400 on your loan Account and would have a required monthly payment of $ 387.05. Over the life of the loan, your total payments would total $ 13,933.62. The APR on your loan can be higher or lower, and your loan offers may not have multiple terms. The actual interest rate will depend on creditworthiness, credit history, loan duration, and other factors. Late payments or subsequent fees and charges can add to the cost of your fixed rate loan. There are no fees or penalties for repaying a loan early.

$ 1,000- $ 50,000

560

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