8 oct 2026 ·
Advertiser: Every figure comes from a lender’s own website or a named independent source, and our method is explained at the end of the article.
Before you apply for a personal loan, it helps to know what lenders look for. Your credit score matters most, but it isn’t the only thing: income, existing debt and your credit history all affect whether you’re approved and what rate you get.
Below we cover the credit score each major lender requires, what borrowers actually pay at each score level, and the other requirements you’ll need to meet. Figures are as of October 8, 2026.
Quick answer: what credit score do you need?
- There’s no single minimum. Each lender sets its own, and most don’t publish one.
- Around 580 to 660 opens the door at many online lenders that accept fair credit, such as Upgrade, Avant and Best Egg.
- Around 670 to 690 or higher gives you far more choices and lower rates, including lenders like SoFi.
- Below 580 is possible with lenders that look beyond your score, such as Upstart, or that have no set minimum, such as OneMain, but expect a high APR.
On the FICO scale, 580–669 is «fair,» 670–739 is «good» and 740 or higher is «very good» to «exceptional,» according to Experian.
Minimum credit score by lender
Few lenders publish a minimum score, so most figures below come from independent reviewers. Treat them as a guide, not a guarantee.
| Lender | Minimum credit score | Source |
|---|---|---|
| Upstart | About 300 in most states | Finder |
| OneMain Financial | No required minimum | NerdWallet |
| Navy Federal Credit Union | No required minimum (membership required) | NerdWallet |
| Avant | About 550–580 | NerdWallet (550), Credible (580) |
| Upgrade | About 580 | Finder |
| Happen Bank (formerly LendingClub) | About 600 | NerdWallet |
| Best Egg | About 600 | NerdWallet |
| Prosper | 640 to accept an offer | Prosper |
| SoFi | About 690 or higher | NerdWallet |
| LightStream | «Good-to-excellent» credit; reviewers cite about 660 | LightStream, NerdWallet |
What borrowers actually pay at each score
Meeting a lender’s minimum doesn’t mean you’ll get its lowest rate. Credible’s data on loans closed between October 2025 and September 2026 shows how much your score affects your APR:
| FICO score | Average APR on closed loans | Monthly payment on $10,000 over 3 years |
|---|---|---|
| 800–850 | 9.66% | About $321 |
| 740–799 | 12.34% | About $334 |
| 670–739 | 19.22% | About $368 |
| 580–669 | 28.42% | About $416 |
| Below 580 | 29.87% | About $424 |
APRs are from Credible; we calculated the payments with a standard loan formula. Over three years, the difference between the top and bottom rows is about $3,700 in interest on the same $10,000 loan.
The other requirements lenders check
1. Income
Lenders want to see that you can afford the payment. Many don’t publish a minimum income, but some reviewers report figures: Credible notes Avant may approve borrowers earning at least $1,200 a month. You’ll usually need to verify income with pay stubs, W-2s or tax returns. Self-employed borrowers may need bank statements or two years of tax returns.
2. Debt-to-income ratio (DTI)
Your DTI is all your monthly debt payments divided by your gross monthly income, according to the CFPB. For example, $2,000 in monthly debt payments on a $6,000 gross monthly income is a DTI of 33%.
Lenders set their own limits. NerdWallet reports Best Egg allows up to 70% including your mortgage, and Happen Bank looks for co-borrowers with a DTI of 40% or less. The lower your DTI, the better your odds and your rate.
3. Credit history
Lenders look beyond your score at what’s in your report:
- Recent late payments or accounts in collections can lead to a denial.
- Bankruptcies often disqualify you for a period; Finder reports Upstart won’t approve applicants with a recent bankruptcy.
- A short history can count against you, though some lenders, like Upstart, weigh education and employment to fill the gap.
- Many recent applications can be a warning sign.
4. Identity, age and residency
Upgrade’s requirements are typical. You must:
- Be a U.S. citizen, permanent resident or living in the U.S. on a valid visa
- Be at least 18, or older in states with a higher age of majority
- Have a verifiable bank account and a valid email address
Some lenders also require you to live in a state where they lend; Avant, Best Egg and OneMain, for example, aren’t available in every state.
5. Documents to have ready
| Document | Why lenders ask for it |
|---|---|
| Government-issued ID (driver’s license or passport) | Verify your identity |
| Pay stubs, W-2s or tax returns | Verify your income |
| Employer name and contact details | Confirm your job |
| Bank account and routing numbers | Send your funds and set up autopay |
| Proof of address (utility bill or lease) | Confirm where you live, if requested |
| Statements for debts you’ll pay off | For debt consolidation with direct pay |
How lenders check your credit
| Step | Type of check | Affects your score? |
|---|---|---|
| Checking your rate (prequalification) | Soft inquiry | No |
| Submitting a full application or accepting an offer | Hard inquiry, at most lenders | Yes, usually a small, temporary drop |
Most online lenders, including Upgrade, Upstart, SoFi and Best Egg, let you check your rate with a soft pull. LightStream is an exception: it has no prequalification, so its application triggers a hard inquiry.
Because prequalifying is free and doesn’t affect your score, it’s smart to check offers from three or more lenders before you formally apply to one.
What’s in your credit score
Your FICO score is built from five categories, according to myFICO:
| Factor | Weight | What it means |
|---|---|---|
| Payment history | 35% | Whether you pay your bills on time |
| Amounts owed | 30% | How much you owe, including how much of your card limits you’re using |
| Length of credit history | 15% | How long your accounts have been open |
| New credit | 10% | How many accounts you’ve recently opened or applied for |
| Credit mix | 10% | The variety of credit types you have |
myFICO notes these weights are for the general population and can differ for individual profiles. The two biggest levers you control are paying on time and keeping your card balances low.
How to qualify, or get a better rate
If your score is close to a cutoff:
- Pay down card balances to lower your utilization, one of the fastest ways to lift your score.
- Fix errors on your credit reports. You can get free reports from all three bureaus at AnnualCreditReport.com.
- Wait out recent late payments if you can; each on-time month helps.
If your score is low or your history is thin:
- Add a co-borrower or cosigner with stronger credit. See our guide to personal loans with a cosigner.
- Offer collateral, such as your car or savings, for a secured loan.
- Try lenders that look beyond your score, such as Upstart, or credit unions, which may weigh your relationship with them.
- Borrow a smaller amount, which is easier to approve.
If your income or DTI is the problem:
- Pay off a small debt first to lower your monthly obligations.
- Include all eligible income, such as a second job or regular freelance work, if the lender allows it.
- Choose a longer term to lower the payment, keeping in mind you’ll pay more interest overall.
Checklist before you apply
- Check your credit score and reports
- Calculate your debt-to-income ratio
- Decide exactly how much you need, including any origination fee
- Prequalify with at least three lenders
- Compare APRs, fees, terms and total cost
- Gather your ID, income documents and bank details
- Formally apply with only the lender you choose
For lender recommendations by credit level, see our guides to the best personal loans for fair credit, bad credit and excellent credit.
How we put this guide together
We checked each lender’s official website on October 8, 2026 for published requirements. Because most lenders don’t publish a minimum credit score, we cite the independent reviewer that reports each figure, and show both figures where reviewers disagree. Average APRs by score come from Credible’s data on loans actually closed through its marketplace. Definitions come from the CFPB, myFICO and Experian. We review this guide at least once every quarter.
Frequently asked questions
What is the minimum credit score for a personal loan?
There isn’t one universal minimum. Some lenders, like OneMain, have no required minimum, and Upstart reportedly accepts scores as low as 300 in most states. Many online lenders look for about 580 to 660, and lenders like SoFi typically want about 690 or higher.
Can I get a personal loan with a 600 credit score?
Yes, at several lenders. Upgrade, Avant, Happen Bank and Best Egg are reported to accept scores around 600 or lower. Expect an APR well above average; Credible’s data shows an average of 28.42% for scores of 580–669.
What credit score do I need for the lowest rates?
Usually 740 or higher. Credible’s data shows average APRs of 12.34% for scores of 740–799 and 9.66% for 800–850, though lenders’ lowest advertised rates also depend on term length and discounts.
What debt-to-income ratio do lenders want?
It varies. Lower is better. Happen Bank, for example, looks for co-borrowers with a DTI of 40% or less, according to NerdWallet, while some lenders, like Best Egg, reportedly allow up to 70% including your mortgage.
Do I need a job to get a personal loan?
You need verifiable income, but it doesn’t always have to come from a traditional job. Some lenders accept self-employment, retirement or other regular income. Check each lender’s rules.
Does prequalifying hurt my credit score?
No. Prequalification uses a soft inquiry. A hard inquiry usually happens only when you submit a full application or accept an offer.
Disclaimer
This article is for general information only and is not financial advice. We are not a lender or a financial advisor. Credit score minimums, APRs and requirements shown are those published by lenders, or reported by the sources cited, on the date above and may change at any time. Meeting a lender’s minimum doesn’t guarantee approval. Always read the full loan agreement and compare several offers before you borrow.