$10,000 Personal Loans For Good & Bad Credit: How to Get a 10k Loan? (2024)

What would you do with a 10k loan? With a $10,000 personal loan, the ways to use it are nearly endless. So how can you get a $10,000 personal loan? Keep reading to find out.

How can I get a $10,000 personal loan?

If you are looking for a $10,000 personal loan, you may be happy to know that you have plenty of options when it comes to lenders. You can acquire a $10,000 personal loan from your bank, credit union, or through an online lender. As long as you meet a lender’s minimum credit score and income requirements, you may be able to get a $10,000 personal loan rather quickly. Here are some steps to follow to get a $10,000 personal loan.

#1. Check your credit score. Before you begin your search for a personal loan, you may want to check your credit score first. Knowing what your credit score is and seeing if there are anyways you can quickly improve your score before applying for a personal loan could be beneficial. For example, if you obtain free copies of your credit report and you notice an error, you can address those errors immediately and hopefully see a boost in your credit score. If you have some debt sitting in collections, you could potentially make settlement offers on any delinquent accounts to hopefully have them resolved on your credit report. If you have one or two credit cards with high balances, you can pay those down as much as possible to lower your credit utilization ratio. Doing so may also boost your credit score. The better your credit score is the more likely you are to qualify for personal loans with lower interest rates and more favorable terms.

#2. Get prequalified and check offers. While most lenders advertise rates and terms online, getting prequalified or checking offers allows you to know what you qualify for. Online platforms such as LendingUSA, allows you to access a personalized offer within minutes with no impact on your credit score. Alternatively you can visit your local bank or credit union to see what they can offer. Some traditional banks and credit unions may offer an online prequalification process.If you are in need of money immediately, then an online lender may be best. Online lenders have streamlined the lending process. Once you prequalify online and find a loan offer from a lender you may want to work with, some lenders can approve a loan application the same day it is submitted and then wire the funds into your personal account within 24 hours.

#3. Finalize approval and start spending. Once you have chosen the lender with the best loan offer, you are ready to take the next step. In some cases, you may need to submit documentation such as proof of income and or identification. Lenders may want to verify the information you originally submitted and do a hard credit pull. Once you have completed the approval process, your loan can be funded.

What is the monthly payment on a $10,000 loan?

Monthly payments on any personal loan are determined by the loan amount, the interest rate, and the length of the loan repayment period or the loan term. Long-term loans typically have lower monthly payments but they require the borrower to maybe pay more interest over the life of the loan. Short-term loans typically have higher monthly payments but then a borrower is likely to pay less interest on the loan overall. The best way to estimate monthly payments is to get pre-qualified.

What credit score do I need for a $10,000 loan?

To increase your chance of qualifying for a $10,000 unsecured loan, you should have a credit score of 600 or higher. Some lenders start their minimum credit score requirements at 600, however, there are some lenders that require a credit score in the high 600s or low 700s. If you have a credit score below 600, you may still be able to qualify for a personal loan, however, you may need to secure the loan with collateral, a cosigner, or try for a lower loan amount.

What to consider when comparing 10k loans?

When you start shopping for a 10k loan, you may want to consider prequalifying online so you can more easily compare loan offers from various lenders side-by-side and at the same time. You may want to compare interest rates, fees, loan terms, monthly payments, and if there are any special programs or additional perks you could benefit from.

Some lenders may offer lower interest rates with little to no fees, however, you may find that their credit score and income requirements are much higher than other lenders. Some lenders may offer 10k personal loans to borrowers with little to no credit or bad credit, however, any loans available may come with higher interest rates and additional fees. Once you prequalify, you can review dozens of loan offers from multiple lenders to see who can help you find the personal loan that is best for your financial situation.

What are the pros and cons of a $10,000 personal loan?

When it comes to taking on a $10,000 personal loan, there are many pros and cons that need to be discussed. You should consider your own needs and financial situation as there may be pros and cons that are specific to your situation. However, in general, here are some of the pros and cons of a $10,000 personal loan.


  • More flexibility than a secured loan
  • Smart way to build or rebuild credit
  • Pay for purchases over time
  • Can be used for almost anything
  • Easy way to consolidate debt
  • No collateral required for 10,000 unsecured personal loans
  • Can offer lower interest rates than credit cards


  • High interest charges
  • May come with fees and or penalties
  • Can result in unnecessary debt
  • Risk damaging credit score if you default

There are several reasons why you may need a $10,000 personal loan. Whether you need to finance funeral expenses, vet expenses, medical expenses, or any other expense that life demands, you can get easy financing through LendingUSA. Simply apply online and get a speedy pre-approval decision. Once approved, you can buy what you want and get the services you want now and pay later. With fixed rates, you can take advantage of low monthly payments. If you repay the principal within six months, you can even enjoy zero interest charges.

Take advantage of 0% interest for 6 months. . . check personal loan offers today!

All loans are made by ourlending partners. Amounts financed range from $1,000 to $47,500 but vary by term, state, and loan purpose. Loans are not available in all states. An origination fee of up to 8% may be included in the principal loan amount that may result in an APR of up to 29.99%.

$10,000 Personal Loans For Good & Bad Credit: How to Get a 10k Loan? (2024)


What credit score do you need for a 10k personal loan? ›

Those with a 640 or higher credit score are likely to find a number of options for a $10,000 personal loan; those with higher scores may have more options as well as more favorable terms.

How can I borrow 10k with bad credit? ›

Guarantor loans may be offered by some lenders if you have bad credit. Guarantor loans work by asking a friend or family member to guarantee that they will pay back the loan if you can't afford to do so.

How hard is it to get a 10k personal loan? ›

Your credit score can make or break your ability to get a $10,000 loan. Generally, it can be hard to meet personal loan requirements if your credit score is below 640.

How much is the monthly payment on a 10k loan? ›

Here's how much you'd pay each month for a $10,000 personal loan
Two-Year Repayment$452.27/month, $854.55 in interest over time
Five-Year Repayment$202.76/month, $2,165.84 in interest over time
Seven-Year Repayment$155.86/month, $3,092.42 in interest over time
Jan 17, 2024

How long does it take to get approved for a 10k loan? ›

You can find a $10,000 personal loan through a traditional bank, credit union or online lender. Depending on where you apply, it's possible to receive a quick decision and get funded in one to two business days. Some lenders also offer same-day funding to borrowers who need fast cash.

Will a bank loan me 10k? ›

It may be possible to get a $10,000 personal loan with no credit. But like loans for bad credit, lenders often charge higher fees and interest rates for no-credit loans as well, and that's if you can qualify. But a cosigner with good credit can help you get approved and even lower your rate.

How much do you pay back for a $10,000 loan? ›

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £237.16. Total amount repayable will be £11,383.68.

How to borrow 10k fast? ›

Online lenders are one of the best places to get a $10,000 personal loan. They can offer competitive rates, fast funding, and an easy approval process.

Can I borrow money with terrible credit? ›

The easiest way to get a loan if you have bad credit may be to seek a payday loan or pawn shop loan, since you're not required to submit to a credit check for either. However, it's typically best to avoid these types of loans, as they can be predatory and often involve exorbitant fees and high interest rates.

How to get a loan when no one will approve you? ›

Ask Someone To Co-Sign

Getting a personal loan with a co-signer that has a strong credit score and a solid income can boost your application. Your co-signer – ideally, a family member or close friend – will apply alongside you, and you'll both be responsible for repayment of the loan.

What is the easiest loan to get approved for? ›

Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Personal loans with essentially no approval requirements typically charge the highest interest rates and loan fees.

What is the easiest bank to get a loan from? ›

The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates they consider people with scores below 640, so even people with bad credit may be able to qualify.

What is the payment on a $10,000 loan for 5 years? ›

Advertising Disclosures
Loan AmountLoan Term (Years)Estimated Fixed Monthly Payment*
13 more rows

How much is a $10,000 loan over 5 years? ›

Representative 6.1% APR, based on a loan amount of £10,000, over 5 years, at a Fixed Annual Interest Rate of 5.9358%, (nominal). This would give you a monthly repayment of £193.02 and a total amount repayable of £11,581.20.

How hard is it to get a personal loan from Chase Bank? ›

Even if you have Chase credit cards, a Chase mortgage, and Chase bank accounts in good standing, you can't get a personal loan through Chase. Fortunately, you have many personal loan lenders to choose from.

Can I get a $10,000 loan with 700 credit score? ›

You can borrow from $1,000 to $100,000 or more with a 700 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.

How big of a personal loan can I get with a 720 credit score? ›

Personal loan averages by credit score
Credit score rangeAverage APRAverage loan amount
4 more rows

Can I get a 10k loan with a 620 credit score? ›

Personal loans for a 600 or 620 credit score or above are certainly possible to get. Many lenders do offer loans to borrowers with fair credit, but there are some things you should know. You may have to pay a higher interest rate than a borrower who has good credit.

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).

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