Best Personal Loans for 650 Credit Score

Here are 3 top personal loans for 650 credit score:

1. SoFi - Best for High Borrowing Limits

SoFi personal loans

SoFi is suitable for borrowers looking for competitive interest rates and qualification leniency. It also offers bonus perks. 

No fees
Autopay discount is available
Mobile application is available
Not available in all US states
Might incur funding and approval times
Might have higher minimum credit score terms

SoFi does not publish all its eligibility criteria. However, some sources note its credit score requirements are as much as 680.

Here are SoFi’s requirements at a glance:


Ast. APRMin. Credit ScoreLoan AmountLoan Term
6.99% - 21.78%Undisclosed$5,000 - $100,00024 to 84 months

The Bottom Line

If you qualify for a SoFi loan, you can get benefits, including access to education content and career coaching and the advantage of significantly higher borrowing limits than those offered by other lenders. With a sound credit score, you can lend up to $100,000.

Try SoFi

2. Upstart - Best for very low to no credit


Upstart is an AI lending platform rather than a direct lender. Upstart connects you with banks and partner credit unions that provide loans. It is suitable for individuals with poor credit as it considers non-traditional factors when assessing your creditworthiness. Also, as Upstart finds several potential lenders for you, it can increase your chances of approval.

Low minimum credit score: the lender considers credit scores as low as 300
Multiple loans from various lending partners
A range of loan amounts, ranging from $1,000 to $50,000
High APRs - as much as 35.99% APR
Origination fees - around 7% of the loan amount

Upstart’s lending partners:

  • Extend loans ranging from $1,000 to $50,000
  • Have fixed APRs ranging from 5.22% to 35.99%
  • Offer an origination fee of up to 7%
  • Provide 36 to 60 months to repay the loan
  • Offer same-day funding upon loan approval
  • Provides loans to borrowers with low credit scores - as low as 300
  • Approves borrowers with no credit score or credit history

The Bottom Line

Upstart is a suitable option if you have no credit or bad credit. Borrowers with as little as 300 credit scores have better odds of securing a loan than they do with other lenders.

Try Upstart

3. Discover - Best for low fees

Discover personal loans

Discover has personal loans available for borrowers with bad credit. They don’t have a minimum credit score as they assess your creditworthiness according to other factors. 

Poor credit approval - no minimum credit score requirements
Long loan terms, as long as 84-month
No origination fees
Low APR with a maximum of 24.99% APR
Low maximum loan amount, with a maximum of $35,000
Must have at least $25,000 in household income
You can’t use the funds to pay off a secured loan or a Discover credit card.

Discover unsecured personal loans go from $2,500 up to $35,000, and it has a fixed APR of between 5.99% to 24.99%. There are no origination fees, and you can choose from terms ranging from 36 - 84 months. Discover’s unsecured personal loans are suitable for those with bad credit as Discover does not have minimum credit score amounts. 

Try Discover

Final Word

If your credit score is 650 - in the “fair range” - you might need to overcome some obstacles when you apply for a loan. However, keep in mind that there are lenders, including SoFi, Upstart, and Discover, ready to accommodate borrowers with a credit score of 650. 

Finally, you should research loans and credit products with satisfactory rates and terms for individuals with fair credit and be informed when you apply for a personal loan with a 650 credit score. 

Frequently Asked Questions(FAQ)

Is 650 credit score good for a personal loan?

A FICO credit score of 650 puts you within the group of consumers with “fair” credit scores. However, a 650 FICO score is below the average U.S. score. Usually, the minimum score to be eligible for a personal loan is 560 - 660.

Can I get a 15000 loan with 650 credit score?

You can loan $40,000 - $100,000+ with a 650 credit score. The precise loan amount will vary according to additional factors, including your income, the type of loan you want, your employment history, and the lender. 

Can I get a 10k loan with a 650 credit score?

In most cases, you will require a credit score of 640 or more to obtain approval for a $10,000 personal loan. Many lenders that provide personal loans of $10,000 + expect fair credit or more and sufficient income to meet the monthly payments. 

Can I get a 50k loan with a 650 credit score?

Generally, you must have a minimum credit score of 660 to obtain a $50,000 personal loan. Many lenders that provide personal loans of $50,000 + expect fair credit or more and sufficient income to meet the monthly payments. 

How To Improve Your Credit Score from Fair to Good or Excellent?

Firstly to improve your fair credit score, ensure you pay your bills before the due date. If you have any delinquent accounts, pay the outstanding amount and switch them to autopay. Paying the amount owed on loans and credit cards can also help raise your fair credit score.

About the Authors

Rebecca Beris

Written by: Rebecca Beris

Financial Content Writer and Editor

Rebecca has been working as a content writer and editor for over 12 years. During this time she has written content for various fields including, lifestyle, blogs, software technical writing, finance industry, and visual arts. She has been writing for companies in the areas of forex, crypto, banking, fintech, and fund...

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