You may be eligible for a bad credit personal loan with a score below 580.
The average personal loan rate is currently at 12.43%, according to Bankrate's data as of Aug. 26, 2026. But if you have bad credit, some lenders could charge you an interest rate close to 36%.
Personal loan lenders specializing in bad credit loans will likely scrutinize your income and employment history more closely.
You should explore alternative solutions before committing to a personal loan with a high interest rate.
If you want a low rate on a personal loan, you'll need good credit. However, that's not the reality for most borrowers. In fact, TransUnion data shows that people in the subprime and near prime categories — credit scores between 580 and 659 — made up the majority of loans (67%) at the end of 2025.
#credit #however
The average personal loan rate is currently at 12.43%, according to Bankrate's data as of Aug. 26, 2026. But if you have bad credit, some lenders could charge you an interest rate close to 36%.
Personal loan lenders specializing in bad credit loans will likely scrutinize your income and employment history more closely.
You should explore alternative solutions before committing to a personal loan with a high interest rate.
If you want a low rate on a personal loan, you'll need good credit. However, that's not the reality for most borrowers. In fact, TransUnion data shows that people in the subprime and near prime categories — credit scores between 580 and 659 — made up the majority of loans (67%) at the end of 2025.
#credit #however
2 months ago
