Personal Loans for Credit Scores Below 670: Your Guide to Finding the Best Options in 2025

Having a credit score below 670 doesn’t mean you’re locked out of the personal loan market. In fact, many Americans find themselves in this situation—whether due to limited credit history, past financial challenges, or simply being new to the credit world. The good news? Several lenders specialize in helping borrowers with fair or poor credit access the funds they need.

If you have a 620 credit score personal loan need, you’re not alone. This credit range, while considered “fair” by most scoring models, still opens doors to various lending options. The key is knowing where to look and what to expect.

Understanding Credit Scores and Personal Loan Eligibility

Credit scores typically range from 300 to 850, with different tiers representing your creditworthiness. Here’s how the ranges generally break down:

Credit Score Range	Rating	Personal Loan Prospects
300-579	Poor	Limited options, higher rates
580-669	Fair	Moderate options available
670-739	Good	Many options, competitive rates
740-799	Very Good	Excellent options, low rates
800-850	Exceptional	Best rates and terms

When you’re looking for a 620 credit score personal loan, you’re in the “fair” credit territory. This means lenders view you as a moderate risk, which translates to higher interest rates than someone with excellent credit, but you’ll still have access to legitimate lending options.

Top Personal Loan Lenders for Credit Scores Below 670

Upstart Personal Loans: Best for People Without Credit History

Upstart stands out as a revolutionary lender that looks beyond traditional credit scores. They’ll consider applicants with credit scores as low as 300 or even those without any credit history at all.

Key Features:

APR Range: 7.8% – 35.99%
Loan Amounts: $1,000 – $50,000
Terms: 36 and 60 months
No early payoff penalties
99% of funds sent next business day

What makes Upstart unique is their use of artificial intelligence to assess your creditworthiness. They consider factors like education, employment history, and income potential—not just your credit score. However, be prepared for origination fees up to 12% of your loan amount.

Upgrade Personal Loans: Best for Smaller Loan Amounts

Upgrade caters to borrowers who need smaller amounts, starting as low as $1,000. This makes them ideal if you’re facing a minor financial emergency or need to consolidate a small amount of debt.

Key Features:

APR Range: 7.99% – 35.99%
Loan Amounts: $1,000 – $50,000
Terms: 24 to 84 months
Credit Score Required: 600+
Fast funding in as little as 1 day

Upgrade also offers excellent financial literacy tools, including a free credit score simulator and credit monitoring services. The downside? They charge an origination fee of 1.85% to 9.99%.

OneMain Financial: Best for Flexible Terms

OneMain Financial has been serving borrowers with less-than-perfect credit for decades. They offer both secured and unsecured loans, giving you flexibility in how you structure your borrowing.

Key Features:

APR Range: 18.00% – 35.99%
Loan Amounts: $1,500 – $20,000
Terms: 24 – 60 months
Accept poor/fair credit
Option to secure loan with collateral
Choose your payment due date

OneMain’s flexibility extends to their underwriting process. They’ll work with you to find a loan structure that fits your budget, and their secured loan option can help you secure lower rates if you have valuable collateral.

SoFi Personal Loans: Best If You Need a Co-Applicant

While SoFi typically requires good to excellent credit, they’re worth considering if you have a trusted friend or family member who can co-apply with you. This can significantly improve your chances of approval and better terms.

Key Features:

APR Range: 8.99% – 35.49% (with autopay)
Loan Amounts: $5,000 – $100,000
Terms: 24 to 84 months
No origination, prepayment, or late fees
Unemployment protection available

SoFi’s member benefits are exceptional, including career counseling and financial planning services. If you can qualify with a co-applicant, this could be your ticket to premium lending benefits.

Avant Personal Loans: Best for Quick Funding

When you need money fast, Avant delivers. They specialize in quick funding for borrowers with fair credit, often providing funds as soon as the next business day after approval.

Key Features:

APR Range: 9.95% – 35.99%
Loan Amounts: $2,000 – $35,000
Terms: 24 to 60 months
Accept credit scores under 600
10-day grace period for late payments

Avant’s streamlined application process and quick funding make them ideal for emergencies. However, expect to pay an origination fee of up to 9.99%.

What to Expect When Applying with a Credit Score Below 670

Higher Interest Rates

The reality of borrowing with fair or poor credit is that you’ll pay more in interest. Lenders compensate for the increased risk by charging higher rates. Here’s what you might expect:

Credit scores 580-669: 15-35% APR
Credit scores 300-579: 25-35% APR
Excellent credit (740+): 5-15% APR

Origination Fees

Many lenders charge origination fees to offset the risk of lending to borrowers with lower credit scores. These fees typically range from 1% to 12% of your loan amount and are deducted from your loan proceeds.

Shorter Repayment Terms

Lenders may offer shorter repayment periods to minimize their risk exposure. While this means higher monthly payments, you’ll pay less interest overall.

Strategies to Improve Your Loan Terms

Shop Around and Compare Offers

Different lenders have varying risk appetites and underwriting criteria. What one lender considers too risky, another might approve. Shopping for personal loans from multiple lenders can help you find the best deal.

Consider a Co-Signer or Co-Applicant

Adding someone with better credit to your application can significantly improve your chances of approval and reduce interest rates. However, ensure that this person is willing and financially able to take on the responsibility if needed.

Improve Your Credit Score Before Applying

Even a few points can make a significant difference in your loan terms. Focus on paying bills on time, keeping credit card balances low, and disputing any errors on your credit report.

The Bottom Line

Borrowing with fair or poor credit is possible but comes with higher costs and fees. By understanding what to expect and taking steps to improve your terms, you can still find a personal loan that meets your needs without breaking the bank.