You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
The best personal loans for a 650 credit score are from Upstart because they offer $1,000 - $50,000 with APRs of 6.4% - 35.99% and repayment periods of 36, 60 months.
Best Personal Loans for a 650 Credit Score
| Lender | Loan Amounts | APRs | Credit Score Requirement |
| Upstart | $1,000 - $50,000 | 6.4% - 35.99% | None |
| Oportun | $300 - $18,500 | 10.07% - 35.95% | None |
| OneMain Financial | $1,500 - $20,000 | 18% - 35.99% | None |
| RISE | $500 - $5,000 | 60% - 299% | None |
| Jora Credit | $500 - $4,000 | 75% - 349% | None |
For more information, check out WalletHub’s complete picks for the best personal loans for fair credit. Then, you can estimate your potential rates with our free pre-qualification tool.
This answer was first published on 08/26/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
Can I get a $20,000 loan with 650 credit score? ›
Generally, you'll need a good to excellent credit score — 670 or higher — to qualify for a $20,000 loan.
Will I get a loan with a 650 credit score? ›
Yes, a 650 credit score is typically considered fair and you can qualify for loans, but the terms and interest rates may not be as favourable for you compared to those with higher scores. Lenders may have varying criteria, so shopping around and comparing offers is essential to find the best option.
What credit score do I need for a $5000 loan? ›
Requirements for a $5,000 loan vary by lender. But in general, you should have at least Fair credit, which is a score of 580 or above. Lenders may also look at other factors, such as your income and your debt-to-income ratio (DTI), during the application process.
What interest rate can I get with a 650 credit score? ›
Auto loan interest rates by credit score
| Credit score | Average APR, new car | Average APR, used car |
|---|
| Prime: 661-780. | 6.89%. | 9.04%. |
| Nonprime: 601-660. | 9.62%. | 13.72%. |
| Subprime: 501-600. | 12.85%. | 18.97%. |
| Deep subprime: 300-500. | 15.62%. | 21.57%. |
2 more rowsMay 30, 2024
You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What credit score do you need to get a $30,000 loan? ›
Requirements to receive a personal loan
This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.
How long does it take to get from 650 to 750 credit score? ›
Generally, it takes around 4-12 months to reach the point where you can apply for a loan. It will take a few months to get to 750 if your score is currently somewhere between 650 and 700.
How much can I borrow with a 680 credit score? ›
With a 680 credit score, you can qualify for mortgages, auto loans, credit cards, personal loans, and more. However, the interest rates and loan amounts you are approved for will vary by lender. Generally, you may be able to borrow between $5,000 – $300,000, depending on the type of product.
How big of a loan can I get with a 600 credit score? ›
With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780. Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000).
What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.
Will a bank give you a 5000 dollar loan? ›
There are myriad options for a $5,000 loan among various banks, credit unions and online lenders. While approval for a personal loan isn't guaranteed, it's best to shop around and compare rates and loan offers for such a loan before narrowing down your decision.
What credit score do I need for a $10000 personal loan? ›
Requirements will vary across lenders. However, qualifying for a $10,000 personal loan typically requires a credit score that exceeds 640, an active checking account, and a steady, verifiable income, among other factors.
Will I get a loan with 650 credit score? ›
Most lenders in India consider a CIBIL score of 600+ a decent score to evaluate your creditworthiness. As such, obtaining a Personal Loan for CIBIL score of 650 and above makes availing of loans incredibly easy.
What is the best credit card for a 650 credit score? ›
To help you get started, the best credit card for a 650 credit score is the Citi Double Cash Card. With a $0 annual fee and a generous 2% cash back on purchases, it offers tangible benefits and reports to major credit bureaus monthly. This helps build your credit history if used responsibly.
How many people have a 650 credit score? ›
Credit score distribution: How rare is an exceptional 800 to 850 score?
| FICO® Score range | Percent within range |
|---|
| 500-549 | 6% |
| 550-599 | 7% |
| 600-649 | 9% |
| 650-699 | 12% |
4 more rowsMay 31, 2023
In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan.
How much would the monthly payment be on a $20,000 loan? ›
Example Monthly Payments on a $20,000 Personal Loan
| Payoff period | APR | Monthly payment |
|---|
| 12 months | 15% | $1,805 |
| 24 months | 15% | $970 |
| 36 months | 15% | $693 |
| 48 months | 15% | $557 |
3 more rowsAug 31, 2021
- Download MoneyTap App & register. Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.
- KYC documentation. After the approval from our system, we'll schedule a KYC visit to your house / office to collect documents.
- Transfer Money to your Bank. Credit line is ready to use!
$20,000 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don't have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind.
