Personal Loan Limit: How Much Can I Borrow?

When you need money for debt consolidation, a major expense, or an emergency, you might turn to a personal loan. In our research, we found the highest maximum personal loan limit is $100,000, but how much you can borrow depends on several factors. 

Personal loans allow borrowers to get a lump sum which they repay—with interest—in fixed monthly installments. These loans offer flexible terms and often carry lower interest rates than credit cards. Unsecured personal loans don’t require collateral. 

This guide will walk you through how much you can borrow on a personal loan, how to get the maximum amount, and when a personal loan makes sense.  

Personal loan limits by lender

Personal loan lenders can set different limits on the minimum or maximum loan they’re willing to offer. If you’re interested in a personal loan, checking your credit scores can help you narrow down the list of potential lenders. 

We’ve compiled maximum personal loan amounts for 19 lenders here, along with their minimum credit score requirements. The lenders at the top of the table are suited for borrowers with good to excellent credit, and those at the bottom offer loans for those with bad credit (580 and below). 

Lender	Min. credit score disclosed?	Max personal loan
LightStream	❌	$100,000
SoFi	660	$100,000
PNC	❌	$35,000
Laurel Road	❌	$80,000
Discover	660	$40,000
Navy Federal	❌	$50,000
Wells Fargo	❌	$100,000
TD Bank	660	$50,000
Santander	❌	$50,000
Citibank	❌	$30,000
Prosper	640	$50,000
LendingPoint	585	$36,500
Upstart	No min. score in most states	$50,000
Upgrade	580	$50,000
OneMain Financial	No min. credit score	$20,000
Avant	580	$35,000
Mariner	No min. credit score	$25,000

As you can see in the table above, limits vary by lender, but the maximum amount you can borrow from many mainstream lenders is $100,000, and others don’t offer more than a $30,000 personal loan. 

Once approved, you’ll get the loan funds in one lump sum and then make monthly payments according to the schedule the lender sets. The larger the loan, the longer the term you might need to pay it off. Keep in mind that a longer loan term can mean paying more interest in total, even if the rate is low.

Unsure where to start? Check out the best personal loans. 

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What affects how much you can borrow on a personal loan?

Two major factors affect how much you’re eligible to borrow with a personal loan: your credit score and your debt-to-income ratio. 

Your credit score

When you apply for a personal loan, lenders will perform a hard check of your credit in most cases. That means looking at your credit reports and credit scores. Your credit scores measure how responsibly you manage debt, with a higher score indicating a healthier credit profile. 

Lenders may choose to offer loans to borrowers who fit certain credit profiles based on their scores. 

FICO scores, which range from 300 to 850, break down like this:

• 800+: Exceptional credit
• 740 – 799: Very good
• 670 – 739: Good credit
• 580 – 669: Fair credit
• <580: Poor credit

Very good or excellent credit can make it much easier to qualify for a larger personal loan. A higher credit score indicates you’re more likely to pay back what you borrow on time. 

As you can see, you’ll need at least a 670 score to qualify with a good-credit lender. These lenders tend to offer higher loan amounts because they assume their target customers are in a strong enough financial position to repay the money. Good credit also tends to translate to lower interest rates. 

If you only qualify for a loan from a fair- or bad-credit lender, your maximum loan amount might be lower. Those lenders tend to issue smaller loan amounts to offset their risk. And you’ll likely pay more in interest, which ties into the degree of risk the lender takes in making the loan. 

What if you have fair or poor credit? Our expert weighs in

Erin Kinkade

CFP®

I recommend making a plan to pay down your current debt and not applying for a new loan until you’ve made significant progress paying down your debt to lower your DTI and increase your credit score. If you have thin credit, you can begin building credit history by applying for a credit card beginning with a small maximum credit limit and paying off the balance each month. Keep your DTI in mind and work to keep it low, specifically if you experience a month where you can’t pay off the entire balance and can only make the minimum payment. 

Your debt-to-income ratio

The second factor affecting your personal loan limit is your debt-to-income ratio (DTI). Your DTI measures how much of your monthly income goes to debt repayment. This ratio tells lenders at a glance how much debt you can realistically handle. 

Most lenders like to see your DTI remain below 36% with your requested loan included, whether you’re applying for a personal or other type of loan. If you’re applying for a loan that would push you above that limit, the lender might counteroffer with a lower loan amount.

If your DTI is on the higher side, paying down some of your debt could help to bring it back into lenders’ acceptable range. Increasing your income—for instance, by picking up a part-time job—is another option. 

Should you take the maximum personal loan amount? 

You can use personal loans for almost anything, which is terrific when you need cash. The option to borrow as much as $100,000 means you could use a personal loan to meet just about any need. But does it make sense to get the maximum loan you’re approved for? 

We’ve listed the pros and cons to taking advantage of a higher personal loan limit so you can decide whether it makes sense. 

Pros

• A larger loan can allow wiggle room if you need money for a larger expense but are unsure of your budget. 

• Paying back a larger loan could help to improve your credit score over time as it shows that you’re responsible with your finances.

• You could apply any remaining funds you don’t use to the loan principal to reduce what you owe.

• Taking a look at your financial situation and needs can help you decide whether to max out your personal loan limit or not. 

Cons

• A larger loan means you’ll have that much more to pay back with interest and a potentially longer repayment term. 

• Getting a larger loan when you have bad credit could be a more expensive way to borrow if you’re stuck with a higher interest rate.

• Owing a larger personal loan could make it more difficult to qualify for new credit if your DTI is too high. 

When determining whether maxing out your potential loan makes sense, consider whether it’s for a need or a want. If you don’t need to spend the money to better your financial or personal situation, we recommend saving rather than borrowing.

If you…	Consider a large personal loan?
Have a good to excellent credit score and the loan is for a need	✅
Have a low debt-to-income ratio and the loan is for a need	✅
Have an emergency expense that matches or exceeds the full value of the loan	✅
Want to consolidate other high-interest debts into one payment	✅
Need to fund a major event, such as a wedding or funeral, and have no other funding option	✅
Need to make home improvements that will increase the resale value of your home	✅
Have poor credit	❌
Have a high debt-to-income ratio	❌
Want to fund a vacation	❌
Want a nonessential big-ticket item	❌
Can’t afford the monthly payment under your current budget	❌

The takeaway? Bigger isn’t always better when it comes to borrowing money. If you’ve weighed the pros and cons and are leaning toward a smaller loan instead, check out our guide on small personal loans.

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What to do if your approved personal loan amount isn’t enough

It’s possible the personal loan you’re approved for won’t be enough to meet your needs. If you need additional funds to fill the gap, consider the following options:

• Multiple unsecured loans
• Secured loan
• Home equity loan or HELOC

Take out multiple unsecured loans

If you’re approved for a loan with one lender but need to borrow more money, you could apply for a loan with another lender. For example, if you need $25,000 for a home repair, and you’ve already been approved for a $20,000 loan with one lender, you might try to get the remaining $5,000 elsewhere. 

Of course, that means making two loan payments each month. Review your budget to ensure you can afford two payments. It’s wise to check the loan terms because each loan will have its own interest rates, fees, and repayment schedule. 

Whether this option is viable may hinge on your credit profile. If the second lender sees that you recently applied for a loan and your credit score is closer to fair territory than good or excellent, it may assume that you’re desperate for money and deny your application. 

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Consider a secured loan

You could also try a secured loan if you need to borrow a larger amount but you’ve tapped out your unsecured personal loan limit. Secured loans require you to offer the lender collateral to guarantee the loan. For example, you might use your car title as security if you own your vehicle outright. 

Secured personal loans can have lower annual percentage rates, and you might be able to borrow a larger amount. You can find them at traditional banks, online banks, and credit unions. Just be aware that the property you put up as collateral is on the line if you default. 

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Home equity loan or line of credit

If you own a home, you might be able to borrow against your equity. Equity is the difference between your home’s current market value and what you owe on it. 

There two main ways to borrow against your equity are a home equity loan and a home equity line of credit (HELOC).

• Home equity loans let you borrow a lump sum and repay in equal monthly installments over time. 
• HELOCs give you access to a revolving credit line you can draw against as needed. 

Depending on the lender and your credit rating, you might be able to borrow 80% to 90% of the amount of equity you have. You might consider a home equity loan if you want to borrow an exact dollar amount. You may prefer a HELOC if you need flexible access to credit. 

When you’re ready to explore loan options, it’s smart to get rate quotes from several lenders, so you have something to compare. While you’re checking rates, you can also review the maximum loan limits, fees, and repayment terms. Doing your research can help you find the right loan for your needs in the right amount. 

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