Your web browser (Internet Explorer 8) is out of date. Update your browser for more security, speed, and the best experience on this site.
Update Browser

Best Emergency Loans for Bad Credit of November 2023

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

An emergency loan can be disbursed quickly to help you pay for unexpected expenses or financial hardships. The best emergency loan for bad credit is Upgrade, thanks to its low minimum credit score, fast funding, and more. There are also several other great options to choose from.

When you need an emergency loan for bad credit, there are many lenders to choose from. To help you narrow down your options, we evaluated more than 70 lenders on their interest rates, fees, loan amounts, repayment terms, and more, collecting hundreds of data points. Then we sorted that data into four broad categories and weighted them to produce our rankings: loan costs (29.25%), borrower requirements (28.5%), loan terms (22.25%), and additional features (20%).

If youre not seeing anything in the results that are a good fit for your needs, consider warranties from these companies:
Company APR Credit Score est. Loan Amount More Details
Best Overall
APR With Autopay Discount
8.49% - 35.99%
Recommended Minimum Credit Score
This lender does not disclose its minimum credit score requirements.
Loan Amount
$1,000 - $50,000
See Details Check Rates
Best for Low Minimum Credit Requirement
APR Range
6.40% - 35.99%
Recommended Minimum Credit Score
This lender does not disclose its minimum credit score requirements.
Loan Amount
$1,000 - $50,000
See Details Check Rates
Best Secured Loans
APR With Autopay Discount
9.24% - 29.99%
Recommended Minimum Credit Score
Not Disclosed
This lender does not disclose its minimum credit score requirements.
Loan Amount
$2,000 - $50,000
See Details Check Rates
Best for Repayment Terms
APR Range
7.99% - 35.99%
Recommended Minimum Credit Score
This lender does not disclose its minimum credit score requirements.
Loan Amount
$2,000 - $36,500
See Details Check Rates
Best With No Credit Check
APR Range
160.00% - 160.00%
Recommended Minimum Credit Score
Not Disclosed
This lender does not disclose its minimum credit score requirements.
Loan Amount
$500 - $4,000
See Details Check Rates
Best for Fast Funding
TD Bank
APR Range
8.99% - 23.99%
Recommended Minimum Credit Score
This lender does not disclose its minimum credit score requirements.
Loan Amount
$2,000 - $50,000
See Details Check Rates
Best Credit Union
Patelco Credit Union
APR Range
8.95% - 17.90%
Recommended Minimum Credit Score
This lender does not disclose its minimum credit score requirements.
Loan Amount
$300 - $100,000
See Details Check Rates
Why Trust Us
Lenders reviewed
Loan features considered
Data points analyzed
Primary data sources used
Investopedia collected key data points from several lenders to identify the most important factors to borrowers. We used this data to review each lender for fees, accessibility, repayment terms, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right borrowing decision for their needs.

Compare Personal Loan Rates with Our Partners at

Best Overall : Upgrade

Investopedia's Rating

  • APR Range: 8.49% - 35.99%
  • Loan Amount: $1,000 - $50,000
  • Loan Terms: 24 months - 84 months
Why We Chose It

Upgrade is our favorite overall emergency loan option because it has competitive interest rates, offers fast funding, and is available to borrowers with fair credit. Upgrade’s maximum interest rates are on par with other bad credit personal loans. And if you have good to excellent credit, you have the potential to qualify for a lower interest rate than is available from many other lenders.

Upgrade offers a wide range of loan amounts and repayment terms. You also have the option to apply with a co-borrower if your credit isn’t sufficient to qualify by yourself. And you can receive your loan funds within one day of your loan being approved, making Upgrade a good choice when you’re up against a financial emergency.

Originally founded in Aug. 2016, Upgrade is headquartered in San Francisco, California, and has offices in Phoenix, Arizona; Atlanta, Georgia; Orange County, California; and Montreal, Quebec.

Pros & Cons
  • Funding within one business day

  • Competitive interest rates

  • Rate discounts available

  • Origination fee up to 9.99%

  • High maximum APR

  • Charges late fees

  • Have a 620 credit score
  • Be a U.S. citizen or permanent resident or have a valid visa
  • Be at least 18 years of age
  • Have a verifiable bank account and email address

Best for Low Minimum Credit Requirement : Upstart

Investopedia's Rating

  • APR Range: 6.40% - 35.99%
  • Loan Amount: $1,000 - $50,000
  • Loan Terms: 36 months - 60 months
Why We Chose It

If your income has held you back from getting a personal loan, Upstart might be right for you. There’s no minimum credit score required to qualify. You either must have a credit score or have graduated from or are currently enrolled in a higher education program. This makes Upstart the best choice for borrowers with poor credit.

Another benefit of getting a loan through Upstart is the lender’s competitive interest rates. Though the maximum interest rate is on the higher end—though it's on par for bad credit loans—its minimum credit score is lower than any other lender we considered.

Originally founded in 2012, Upstart is headquartered in San Mateo, California, and has offices in Columbus, Ohio, and Austin, Texas.

Pros & Cons
  • No minimum credit score

  • Low minimum APR

  • Funding the next business day

  • Origination fee as high as 12%

  • Limited range of repayment terms

  • Have a verifiable name, date of birth, and Social Security number
  • Be at least 18 years of age
  • Meet the lender’s credit and/or education requirements
  • Have a U.S. mailing address
  • Have a valid email address
  • Have a verifiable source of income
  • Have a U.S. bank account

Best Secured Loans : Regions

Investopedia's Rating

  • APR Range: 9.24% - 29.99%
  • Loan Amount: $2,000 - $50,000
  • Loan Terms: 36 months - 60 months
Why We Chose It

Most of the lenders on our list offer unsecured personal loans, but Regions also offers secured loans. When you get a secured loan through Regions, you use a Regions deposit account as collateral. You can borrow anywhere from $250 to 100% of your deposit account balance.

Regions has plenty of benefits, including no origination fee, which stands out from most lenders. Additionally, because Regions secured loans are backed by collateral, they typically have lower interest rates. Your rate is based on your loan amount, loan term, and the collateral securing your loan, but your rate could be as low as 4%.

Originally founded in 1971 as First Alabama Bankshares, Regions is headquartered in Birmingham, Alabama, and has 1,286 locations across Ala., Ark., Fla., Ga., Ill., Ind., Iowa, Ky., La., Miss., Mo., N.C., S.C., Tenn., Texas.

Pros and Cons
  • Secured and unsecured loans available

  • No origination fees

  • Low interest rates

  • Must be a Regions bank customer

  • Loan amount limited to deposit account balance

  • Not available in all states

Putting up something you own as collateral for a secured personal loan can be a great way to get lower rates and increase your approval odds. But keep in mind it's especially important to make the payments on time because if you don't, your lender can take possession of your collateral.

  • Have a Regions deposit account
  • Live in a state where Regions does business

Best for Repayment Terms : LendingPoint

Investopedia's Rating

  • APR Range: 7.99% - 35.99%
  • Loan Amount: $2,000 - $36,500
  • Loan Terms: 24 months - 72 months
Why We Chose It

LendingPoint is a great option if you want a competitive interest rate and flexible repayment terms. First, LendingPoint’s minimum APR is lower than many other lenders. And though it has a relatively high maximum rate, it’s comparable to other lenders that offer loans to borrowers with bad credit.?

LendingPoint also considers more than just your credit score when determining loan eligibility, which could help make loans more accessible to some borrowers. According to LendingPoint’s website, it believes you are more than your credit score, so it uses a variety of factors to determine your real creditworthiness.

Originally founded in 2014, LendingPoint is headquartered in Kennesaw, Georgia.

Pros & Cons
  • Flexible repayment terms

  • Low minimum interest rates

  • Funding as soon as the next business day

  • Low maximum loan amount

  • Origination fee up to 10%

  • Not available in all states

  • Be at least 18 years of age
  • Have a government-issued photo ID
  • Have a Social Security number
  • Have an annual income of at least $35,000
  • Have a verifiable bank account
  • Live in any state other than Nevada or West Virginia

Best With No Credit Check : OppLoans

Investopedia's Rating

  • APR Range: 160.00% - 160.00%
  • Loan Amount: $500 - $4,000
  • Loan Terms: 9 months - 18 months
Why We Chose It

OppLoans may be worth considering for borrowers with poor credit who may not be able to qualify for another personal loan. Unlike most lenders, OppLoans doesn’t rely on your creditworthiness to make a lending decision. You also won’t pay origination fees and can access your money the same day.

However, these easily accessible loans come at a high cost. OppLoans has considerably higher interest rates than many other lenders—you’ll pay an APR of 160% for your six- to nine-month loan. Additionally, repayment plans are significantly shorter.

Originally founded in 2012, OppLoans has offices in Chicago, Illinois, and Henderson, Nevada.

Pros & Cons
  • Loan decision not based solely on credit score

  • No origination fees

  • Same-day funding available

  • Very high interest rates

  • Short repayment terms

  • Not available in all states

  • Be at least 18 years of age
  • Have a bank account
  • Have a verifiable source of income
  • Receive income through direct deposit
  • Available in any state except Colorado, Connecticut, Georgia, Maryland, Massachusetts, Nevada, New Hampshire, New York, Pennsylvania, South Dakota, Vermont, West Virginia

Best for Fast Funding : TD Bank

Investopedia's Rating

  • APR Range: 8.99% - 23.99%
  • Loan Amount: $2,000 - $50,000
  • Loan Terms: 36 months - 60 months
Why We Chose It

TD Bank offers personal loans of up to $50,000 that can be in your bank account within one business day. Unlike many lenders, TD Bank charges no origination fees on its personal loans, which can help you save thousands of dollars.

TD Bank offers competitive interest rates and a lower maximum APR than nearly any other lender on our list. This means that even if you don’t have the best credit score, you don’t have to worry about paying too high of an interest rate. Additionally, loan approval is quick and you can typically receive your loan within one business day.

Originally founded in 1852 as Portland Savings Bank, TD Bank is headquartered in Cherry Hill, New Jersey, and has over 1,100 branches across 16 states and the District of Columbia.

Pros & Cons
  • Loan funding within one business day

  • No origination fees

  • Low maximum APR

  • Not available in most states

  • Minimum credit score not disclosed

  • Limited range of repayment terms

  • Live in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C.

Best Credit Union : Patelco Credit Union

Investopedia's Rating

  • APR Range: 8.95% - 17.90%
  • Loan Amount: $300 - $100,000
  • Loan Terms: 6 months - 84 months
Why We Chose It

Patelco is our pick for the best credit union for bad credit emergency loans, and also has more loan flexibility than any other lender. First, Patelco offers loans ranging from $300 to $100,000. This is a huge advantage because most lenders don’t offer loans of less than $1,000 or more than $50,000.

Patelco also offers flexible loan terms and competitive interest rates. Loan terms start at just six months, which offers you access to the best interest rates. You can also spread your loan out over as long as seven years for loans of $30,000 or more, which helps reduce your monthly payment.

Finally, Patelco offers a variety of personal loan types that might appeal to borrowers with poor credit. In addition to an unsecured personal loan, you can also choose from a secured credit builder loan, a secured savings loan, and other secured lending options.

Originally founded in 1936, Patelco has 37 offices across Northern California.

Pros & Cons
  • Flexible loan amounts and repayment terms

  • Low minimum APR

  • Offers secured and unsecured loans

  • Strict membership requirements

  • Only available to credit union members

  • Be a Patelco credit union member

Compare the Best Emergency Loans for Bad Credit of November 2023

Best For
APR Range
Average Origination Fee
Late Fee
Time To Receive Loan
Loan Amount
Latest Repayment
Reset All
Upgrade Best Overall 8.49% - 35.99% 1.85%–9.99% $10.00 1 day $1,000 - $50,000 84 months Check Rates
Hide, not for me
Upstart Best for Low Minimum Credit Requirement 6.40% - 35.99% 0.00%–12.00% 5% of the late payment amount or $15, whichever is greater 1 days $1,000 - $50,000 60 months Check Rates
Hide, not for me
Regions Best Secured Loans 9.24% - 29.99% 0.00% 5.00% - $100.00 0 days $2,000 - $50,000 60 months Check Rates
Hide, not for me
LendingPoint Best for Repayment Terms 7.99% - 35.99% 0.00% - 10.00% $0.00 - $30.00 0 day $2,000 - $36,500 72 months Check Rates
Hide, not for me
OppLoans Best With No Credit Check 160.00% - 160.00% 0.00% $0 0 days $500 - $4,000 18 months Check Rates
Hide, not for me
TD Bank Best for Fast Funding 8.99% - 23.99% 0.00% 5.00% - $10.00 1 day $2,000 - $50,000 60 months Check Rates
Hide, not for me
Patelco Credit Union Best Credit Union 8.95% - 17.90% 0.00% 3% of loan payment or $5 whichever is higher 0 days $300 - $100,000 84 months Check Rates
Hide, not for me
*APR ranges for some companies include a discount for automatic payments or existing bank customers.

The Bottom Line

If you need an emergency loan and have bad credit, you still have fast loan options available. While not every lender offers loans to borrowers with poor credit, you can still choose from several great options that offer flexible loan amounts and repayment terms at competitive interest rates.

Upgrade is our favorite option for emergency loans for bad credit, thanks to its fast funding, competitive interest rates, rate discounts, and more. However, you may find an even better option based on your credit score, assets, desired monthly payment, and other factors. Make sure you compare.

Can You Qualify for an Emergency Loan If You Have Bad Credit? 

There are a few ways you can borrow money with "bad" credit. These include emergency personal loans, pawn loans, payday loans, credit card cash advances, cash advance app loans, car title loans, retirement account loans, and even home equity loans. Each of these methods is a little different, but they all have something in common: Rates and fees for these loans will be expensive.

Having bad credit doesn’t mean you can’t qualify for an emergency loan. Rather, you’ll need to be able to show that you have enough income to repay the loan, usually measured by your debt-to-income ratio. Plus, your credit reports will need to show that whatever caused your bad credit score has been resolved (e.g., you’re not delinquent on any of your loans, and you’ve resolved any tax liens or other judgments).

Applying for an emergency loan with a co-applicant is an option if your credit issues haven’t been resolved or you don’t have enough income to repay the loan on your own. This is because you’ll be able to rely on your co-applicant’s good credit history rather than your own to get qualified. If you choose this option, make sure to repay the loan or you could damage your relationship with your co-applicant. Remember, delinquencies will affect their credit scores. 

Average APR by Credit Score

You won't find "Bad" credit as an official credit score rating, at least not in your FICO credit score. Instead, your bad credit may be "Fair" or "Poor" (or just "No Credit" if your credit history is thin). The table below shows average APR by credit score, updated weekly.

How to Choose the Best Emergency Loan

When choosing a fast loan for bad credit, some of the most important factors to consider include how much the loan will cost, the terms you can get (which will determine your monthly payment), and how quickly you can apply and get funded.

  • How much the emergency loan will cost: The cost of an emergency loan is made up of the interest rate you’re charged and the fees you’ll pay to get the loan. A loan’s annual percentage rate (APR) represents the sum of these two costs as an annual percentage of the amount borrowed. For this reason, the APR is the most useful cost to evaluate when comparing lenders and loans.
  • What terms you can get on the loan: Before choosing a lender, ensure it offers a repayment timeline that fits your budget. Shorter repayment terms will result in larger payments since you’ll pay off the loan more quickly. This means you’ll also end up paying less interest over time. Look for a lender that offers the shortest repayment term you can comfortably afford.
  • How quickly you can apply and get funded: It’s also important to evaluate how easy it is to apply for the loan and how quickly you’ll get funded. These two factors are often related since lenders that offer an easy online application process may also offer fast funding. Many of the best lenders offer approval in minutes and funding in as few as one to three business days (sometimes even the same day).

How to Apply for an Emergency Loan If You Have Bad Credit

Before applying for an emergency loan, gather your personally identifiable information (e.g., Social Security number, date of birth, address), income information, and details about the funding you need (loan amount and purpose). This will make the application process easier, as lenders will require you to provide this information. 

  1. Get pre-qualified: Submit a preliminary application with basic details to see if you qualify, which won’t affect your credit if the lender uses a soft credit check. The lender will tell you if you qualify and the rates and terms you might be able to receive. Read the terms and conditions carefully.
  2. Submit a complete application: If the rates and terms are acceptable to you, you can proceed with the full application. At this point, the lender will perform a hard credit inquiry, which will affect your credit score. You may also be asked to provide additional documentation, like copies of pay stubs or bank statements.
  3. Accept the terms and get funded: If you’re approved, review the final loan offer and decide if the actual terms are acceptable. The lender will send you the funds in the manner specified in your application—for instance, depositing the funds into your checking account or disbursing the funds directly to your other creditors.
  4. Make a plan to repay the loan: Finally, you’ll set up your account via an online portal or mobile app so you can manage your loan.

Best Uses for an Emergency Loan

Some lenders may have restrictions on how you can use the loan, such for investing or gambling or to pay for college tuition and fees, but most situations that we would consider "emergencies" aren't among them. Because loans to borrowers with bad credit are expensive, you should carefully consider whether or not your situation is a true emergency. Situations that might qualify include:

  • Expenses related to a medical emergency or procedure
  • A home repair or replacement of an appliance
  • Car repairs
  • Replacement for lost income to cover monthly bills
  • Funeral costs

Debt Consolidation the Most Common Reason for a Personal Loan

In Investopedia's 2023 Personal Loan Borrowers Survey, when we asked current and potential borrowers what they planned to use their loan for, more borrowers said debt consolidation than for any other reason.

Types of Emergency Loans

An unsecured personal loan is not your only option for an urgent loan, but you should carefully evaluate all of the following alternatives before choosing one.

  • Credit card cash advance: Most credit cards allow you to withdraw cash—a cash advance. These loans can be expensive, however, with APRs as high as the card's default rate (usually around 30%). You'll also be charged a withdrawal fee of a few percentage points of the amount advanced, and interest will begin accruing immediately.
  • Payday loan: A payday loan is an advance on your next paycheck. These short-term loans come with high interest rates and fees, resulting in APRs of 400% and more. Because of their expense, they can make it hard to break the cycle of debt.
  • Payday Alternative Loan (PAL): Many credit unions offer PALs, loans of up to six months for relatively modest amounts—$1,000 or less. While APRs can be steep, they are capped at 28% by federal regulation.
  • Cash app: Apps and services like Dave, Earnin, and the like offer short-term cash advances of small amounts ($20 to $500), for a fee. Most of these services charge a subscription and may have other requirements, like opening a checking account, on top of the fees associated with the loan.
  • Title loan: A title loan, or a car title loan, is a secured loan option, backed by an asset you own, usually a car. Loan amounts are tied to the market value of the car, and often capped at 50% of that value. Terms are short—30 to 180 days—and APRs are as high as 400%.
  • Home equity loan: If you need a significant amount of money, and your emergency can wait, you can tap into the equity you have in your home, if any. The process of getting a home equity loan or home equity line of credit can take 30 to 60 days, or more, so this isn't the solution if you are in a hurry. Rates and fees will be considerably cheaper than other alternatives here, assuming you can qualify.
  • 401(k) loan: If you have a 401(k) through your employer, you may be able to borrow from it. Loans are capped at half the account's value or $50,000, whichever is lower. Fund access is fast, 7-10 days. You'll have to repay the loan, with interest, in five years. The interest is paid into your account, and in effect it is like recouping some of earnings loss you experienced due to the withdrawal of funds.

How to Build an Emergency Fund

If emergencies are unavoidable, borrowing to pay for one doesn't have to be. All you need is a dedicated savings account—an emergency fund—to help see you through. But how do you build one?

  1. Set a savings goal: How much should you save? You might aim for several months worth of living expenses (just the basics), or focus on the types of emergency spending you've experienced (car repairs or a vet bill, say) and set an amount that would cover that as your goal.
  2. Set up consistent savings: Find a system that works for you that makes saving automatic and consistent. One way is to set up automatic fund transfers to a dedicated savings account. The transfers do not need to be large. Consistency is the key.
  3. Set aside windfalls: If you get a bonus at work, a tax rebate, or some other financial good luck, resist the urge to spend all of it. Send some to your emergency savings account to boost your financial cushion.
  4. Decide where to save it: Banks and credit unions are the obvious choices. Look for high yield savings accounts that will help your money grow faster.
  5. Be careful about spending it: Not every emergency is dire, so be careful about spending your emergency fund. Regular car maintenance is not an emergency (ideally you'll budget for this); a repair to keep your car safely on the road and operable is worthy of a dip into your emergency fund.

Learn More About Emergency Loans

Frequently Asked Questions

  • What Is an Emergency Loan?

    An emergency loan is a way to borrow cash for sudden, unexpected expenses. One of the most common types of emergency loans—and often one of the most affordable options—is a personal unsecured loan. However, an emergency loan may come in the form of a cash advance, a secured loan like a car title loan, a high-cost payday loan (avoid these if possible), an informal loan from a friend or family member, or a lower-cost payday alternative loan (PAL) from a credit union.

  • How Much Will an Emergency Loan for Bad Credit Cost?

    An emergency personal loan for bad credit will usually come with the typical fees of any personal loan—mainly origination fees, interest fees, and late payment fees. But those fees may be higher than a loan offered to a person with good credit.

  • Where Can You Get an Emergency Loan if You Have Bad Credit?

    Multiple types of lenders offer emergency loans for bad credit, including:?

    • Online lenders
    • Credit unions
    • Traditional banks
    • Credit card companies (cash advances)
    • Payday lenders
    • Relatives and friends

    Remember, just because a borrowing option is available doesn’t mean it’s a good choice. Credit card cash advances, for example, are notoriously expensive and might damage your credit score by driving up your credit utilization ratio.?

    It’s also a good idea to avoid payday loans and title loans whenever possible. The Consumer Financial Protection Bureau (CFPB) warns that the average two-week payday loan features a steep APR that’s equivalent to nearly 400%.

  • Will an Emergency Loan Impact My Credit Score?

    Some types of emergency loans can affect your credit score, while others will not. If a lender doesn’t report your account to one of the three major credit bureaus, the loan won’t influence your credit score—unless you default and a collection agency adds the bad debt to your credit reports at a later date. However, if a lender does share your account details with the credit bureaus, that’s a different story.

    A traditional bank, credit union, and online lender generally will report account details to the credit bureaus. Payday lenders and title lenders generally do not.

    When a lender reports an emergency loan to the credit bureaus, the way you manage the account dictates whether it will help or hurt your credit score. If you make your payments on time, the account may benefit your credit score in the long run. However, if you make late payments or become past due on your debt, that emergency loan could hurt your credit score instead.

  • How Fast Can I Get an Emergency Loan?

    Many lenders offer fast funding to qualified borrowers. Some personal loan lenders may even deposit the funds into your bank account the same day you’re approved for financing.?

    On the other hand, loan funding can sometimes take several days or even up to a few weeks. Certain lenders may take longer to process your loan application or release your funds than others. There’s also a chance that your personal bank or credit union may hold the funds a lender deposits into your account for a few days before you can access the money.?

  • Can You Get an Emergency Loan With No Credit Check?

    Although some lenders do provide loans without credit checks, they're not recommended. Such lenders (like payday loan lenders) often charge steep origination or application fees and high APRs. Not only are these types of loans very expensive, but you might end up getting stuck in a payday borrowing cycle that’s difficult to escape.

  • What Is the Lowest Credit Score Needed for a Loan?

    Among the lenders on our list, Upstart says it will offer loans to borrowers with credit scores of just 300, as long there are no other adverse entries in the credit report. Other lenders we researched report minimum credit scores of 580 or 560, which are considered 'Fair' and 'Poor', respectively.

  • Are Online Lenders Risky?

    Online personal loan lenders may be risky, so it's important to research the online lender you're interested in to understand how it works with borrowers, what fees it charges, whether other borrowers have had a good experience or not, and more. For the most part, a reputable online lender is just as safe as a brick-and-mortar lender.

  • What Is a Hardship Loan?

    A hardship loan is a form of funding lent to an individual facing financial hardship can take out. What constitutes a financial hardship varies by lender. Some possible qualifying circumstances include illness, injury, death of an immediate family member, loss or damage of a primary residence, and identity theft. These loans also can't be used anything other than eligible expenses, including rent or mortgage payments, utilities, medical bills, etc. The main benefit of this type of loan is that it typically has lower loan limits, lower interest rates, and shorter repayment terms compared to other kinds of personal loans.

  • Companies We Reviewed

    We researched and reviewed 70 companies to find the best seven lenders you see above on this list. While we write individual reviews for most companies we research, we do not always write reviews for companies we would not recommend. These are the companies we researched, along with links to individual company reviews, to help you learn more before making a decision: Achieve, Affinity Federal Credit Union, Alliant Credit Union, American Express, Avant, Axos Bank, Bankers Healthcare Group, Best Egg, Bethpage Federal Credit Union, Blue Federal Credit Union,, Boeing Employees' Credit Union, CapexMD, Citibank, Connexus Credit Union, Discover, Dividend Finance, ENT Credit Union, Fig Loans, First Tech Federal Credit Union, Future Family, GoodLeap, Greenstate Credit Union, Happy Money, Hiway Credit Union, Lake Michigan Credit Union, Laurel Road, LendingClub, LendingPoint, LendingUSA, Liberty Federal Credit Union, LightStream, Lyon Financial, Mariner, Money Key, Mountain America Credit Union, NASA Federal Credit Union, Navy Federal Credit Union, Netcredit, Old National Bank, OneMain Financial, OppLoans, Patelco Credit Union, PenFed, Personify Financial, PNC Bank, Prosper, Reach Financial, Regions, Reprise, Rocket Loans, Santander, Service Federal Credit Union, SoFi, Southeast Financial, Summit Credit Union, SunPower, Tally, TD Bank, Teachers Federal Credit Union, Trident Funding, Truist, U.S. Bank, Universal Credit, Upgrade, Upstart, USAA, Vantage Recreational Finance, Wells Fargo.


To evaluate and rank personal loan providers we collected hundreds of data points across 70 lenders, including traditional banks, credit unions, fintechs, and special interest finance companies. We researched and evaluated APRs, loan amounts and terms, fees, customer experience, and much more. To rank the lenders in our database and to generate star ratings, we weighted the data we collected, based in part on what consumers told us were the most important features of a personal loan and lender in a survey we conducted. We grouped those factors into four broad areas:

  • Loan costs (advertised APR, fees, and six other factors): 29.25%
  • Loan terms (loan amount, repayment term, and three other factors): 22.25%
  • Borrowing requirements (credit score, membership requirement, and six other factors): 28.5%
  • Additional features (online application, pre-qualification, and eight other factors): 20%

Investopedia launched in 1999, and has been helping readers find the best bad credit emergency loan companies since 2020. Learn more about how we evaluated personal loans in our complete methodology.

A collage shows a woman recovering in a hospital bed and another image shows a mechanic working on the underside of a car raised up on a garage lift.


Updated by
Erin Gobler
Erin Gobler
Erin Gobler is personal finance coach and a writer with over decade of experience. She specializes in writing about investing, cryptocurrency, stocks, and more. Her work has been published on major financial websites including Bankrate, Fox Business, Credit Karma, The Simple Dollar, and more.
Learn about our editorial policies
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Upgrade. "Personal Loans."

  2. Upgrade. "Upgrade Credit Health."

  3. Upgrade. "What Are the Minimum Borrower Requirements?"

  4. Upstart. "What Are the Minimum Credit Requirements to Receive a Loan?"

  5. Upstart. "Will I Be Eligible for a Loan?"

  6. Upstart. "UPST IPO."

  7. CBInsights. "Upstart."

  8. LinkedIn. "Upstart."

  9. Regions. "Deposit Secured Loan."

  10. Regions. "Company Profile."

  11. Regions. "Form 10-K: December 31, 2022," Pages 1 and 11.

  12. LendingPoint. "Frequently Asked Questions."

  13. CBInsights. "LendingPoint."

  14. CBInsights. "OppLoans."

  15. OppLoans. "Contact Us."

  16. TD Bank. "Personal Loans, Unsecured, Fixed Rate."

  17. TD Stories. "Company History."

  18. TD. "Corporate Profile."

  19. TD Bank. "Find a TD Bank Store or ATM by State."

  20. Patelco Credit Union. "Personal Loans & Lines of Credit."

  21. Patelco Credit Union. "Our Mission."

  22. Experian. "What Is a Good Credit Score?"

  23. California Department of Financial Protection and Innovation. “Consumer Financial Education: Other Loans: Payday Loans.”

  24. Veridan Credit Union. "What Is a PAL Loan?"

  25. National Credit Union Administration. "Permissible Loan Interest Rate Ceiling Extended."

  26. The Pew Charitable Trusts. "Auto Title Loans," Page 3.

  27. Internal Revenue Service. "Retirement Topics—Plan Loans."

  28. Consumer Financial Protection Bureau. "An Essential Guide to Building an Emergency Fund."

  29. Consumer Financial Protection Bureau. "What Is a Payday Loan?"

  30. Consumer Financial Protection Bureau. "I Hear That Taking out a Payday Loan Can Help Rebuild My Credit or Improve My Credit Score. Is This True?"

  31. Federal Employee Education & Assistance Fund. "Emergency Hardship Loans."