Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Best Online Installment Loans in 2025: Rates, Reviews, and How to Qualify Updated Jul 22, 2025 9-min read Expert Approved Expert Approved This article has been reviewed by a Certified Financial Planner™ for accuracy. Written by Sarah Sheehan, MAT Written by Sarah Sheehan, MAT Expertise: Tax planning, retirement planning, debt management Sarah Sheehan is a writer, educator, and analyst who focuses on the impact of health, gender, and geography on financial equity. Her ultimate goal? To live beyond the confines of chasing the next dollar—and to teach everyone else how to do the same. Learn more about Sarah Sheehan, MAT Reviewed by Gail Urban, CFP® Reviewed by Gail Urban, CFP® Expertise: Investment management, financial planning, financial analysis, estate planning, life insurance, student loan management, debt management, retirement planning, saving for college Gail Urban, CFP®, AAMS®, has been a licensed financial advisor since 2009, specializing in helping individuals. Before personal financial advising, she worked as a business financial manager in several industries for about 25 years. Learn more about Gail Urban, CFP® Looking for the best installment loans online? Online installment loans let you borrow a fixed amount and repay it in equal payments over time, making them a popular choice for debt consolidation, emergencies, or big purchases. In this guide, we’ll share top legitimate lenders, rates for 2025, and tips to qualify easily – whether you need fast approval, low interest, or flexible repayment terms. Customize your list by selecting filters. Credit Score All Excellent (800 – 850) Very Good (740 – 799) Good (670 – 739) Fair (580 – 669) Poor (< 580) Amount All Less than $1,000 $1,000 and $9,999 $10,000 and $49,999 $50,000 and $99,999 $100,000 or more Filter results 0 Filters Close Credit Score All Excellent (800 – 850) Very Good (740 – 799) Good (670 – 739) Fair (580 – 669) Poor (< 580) Amount All Less than $1,000 $1,000 and $9,999 $10,000 and $49,999 $50,000 and $99,999 $100,000 or more Best for Comparison Shopping 5.0 View Rates View Rates Fixed APR 6.49% – 35.99% Funding $1K – $200K Term (Yrs.) 1 – 10 Min. Credit Score Varies 5.0 View Rates Best for Fast Approval 4.9 View Rates View Rates Fixed APR 8.99% – 35.49%* Funding $5K – $100K Term (Yrs.) 2 – 7 Min. Credit Score 650 4.9 View Rates Includes all discounts. Best for Fair Credit 4.9 View Rates View Rates Fixed APR 7.99% – 35.99 Funding $1K – $50K Term (Yrs.) 2 – 7 Min. Credit Score 580 4.9 View Rates Best for Low Interest 4.8 View Rates View Rates Fixed APR 6.94% – 25.29% Funding $5K – $100K Term (Yrs.) 2 – 12 Min. Credit Score 660 4.8 View Rates Best for Little to No Credit 4.8 View Rates View Rates Fixed APR 7.80% – 35.99% Funding $1K – $75K Term (Yrs.) 3 – 5 Min. Credit Score None 4.8 View Rates Best for Credit Card Debt 4.8 View Rates View Rates Fixed APR 8.95% – 29.99% Funding $5K – $40K Term (Yrs.) 2 – 5 Min. Credit Score 640 4.8 View Rates Table of Contents What is an installment loan? Best online installment loans in 2025 How to qualify Pros and cons Are installment loans legit? Alternatives FAQ What is an installment loan? An installment loan is a type of personal loan where you: Borrow a fixed amount upfront Repay it in equal monthly payments (installments) over a set period Pay a fixed or variable interest rate, depending on the lender What can you use it for? Common uses include: Debt consolidation Home improvements Emergency expenses Large purchases (e.g. appliances, car repairs) Unlike payday loans, installment loans have longer repayment terms and are often available through legitimate online lenders with competitive rates. Best online installment loans in 2025 Credible Best Marketplace 5.0 /5 View Rates Credible is the best way to see multiple loan offers without a hard credit inquiry. Why Credible is one of the best Through its comprehensive online marketplace, Credible connects you with multiple lenders, allowing you to compare different installment loan offers with a single application. Credible’s network of lenders allows it to offer solutions for borrowers of all credit profiles. You can use funds from these lenders for home improvement, debt consolidation, medical bills, and more. Funding times, fees, and repayment periods vary by lender. Credible lets you check each lender’s terms before accepting a loan offer, so you won’t be surprised or caught off guard between when you apply and receive your funds. Rates (APR)6.99% – 35.99%Loan amounts$1,000 – $200,000Repayment terms1 – 10 years Eligibility requirements Soft credit check? Yes Minimum credit score: 580 Minimum income: Not disclosed States: Loan partners may not be available in all states Repayment terms Credible loans have repayment terms ranging from 1 to 10 years. Some lenders may charge a prepayment penalty if you pay your loan off early. SoFi Best for Fast Approval 4.9 /5 View Rates If you have good credit, you could be approved for a SoFi installment loan on the day you apply. Why SoFi is one of the best SoFi® is a major lender that offers a wide range of financial services and works well for borrowers with good credit. SoFi stands out for minimal fees and rate discounts. SoFi lets you prequalify with a soft credit check. If you’re approved and accept your loan terms before 7 p.m. Eastern, you could even get your funds the same day you apply. Origination fees are between 0% and 7%, with some qualifying borrowers not paying any fees at all. SoFi doesn’t charge late fees either, regardless of your credit score. Fixed rates (APR)8.99% – 29.99% with all discountsLoan amounts$5,000 – $100,000Repayment terms2 – 7 years Eligibility requirements Soft credit check? Yes Minimum credit score: 660 Minimum income: Not disclosed States: All 50 states and Washington, D.C. Repayment terms SoFi personal loans feature terms from 2 to 7 years. If you enroll in autopay, you’ll receive a 0.25% rate discount. There’s no penalty if you decide to pay your loan off early. Upgrade Best for Fair Credit 4.9 /5 View Rates Upgrade is a solid choice if your credit isn’t perfect and you want flexible repayment terms with fast funding. Why Upgrade is one of the best Upgrade is worth considering if you have bad or fair credit or need a smaller loan. You can check rates without affecting your credit score, and eligibility is based more on free cash flow than other lenders. If you don’t have excellent credit, you don’t need to give up fast deposit times or pay prepayment penalties. Fees are minimal, and rates are on par with other lenders, so you won’t compromise much for having dings on your credit report. In addition to next-day funding, Upgrade also offers rate discounts for borrowers who enroll in autopay, use all or some of their loan for debt consolidation, or use their vehicles as collateral. Rates (APR)8.49% – 35.99%Loan amounts$1,000 – $50,000Repayment terms2 – 7 years Eligibility requirements Soft credit check? Yes Minimum credit score: 580 Minimum income: Not disclosed States: All 50 states and Washington, D.C. Repayment terms Upgrade loans have repayment terms from 2 to 7 years, and your monthly due date is adjustable to fit your budget. A short-term financial hardship program is available if you’re temporarily unable to manage payments. LightStream Best for Low Interest 4.8 /5 View Rates LightStream is ideal for borrowers with strong credit seeking the lowest possible rates for large purchases or debt consolidation. Why LightStream is one of the best LightStream ranks as one of the best personal loan lenders for excellent credit. It offers low rates, no fees, and a Rate Beat program where it will beat any competitor’s rate by 0.10%. Its installment loans are simple to apply for, and you can get funding as soon as the same day. If you take out a loan with LightStream and are dissatisfied with your lending experience, the lender will refund you $100. LightStream will review your entire financial picture but only approves good to excellent credit profiles. Before applying, check your credit score to ensure you qualify: LightStream is the only lender on our list that doesn’t offer a soft pull to check your rates. Rates (APR)7.49% – 25.49%Loan amounts$5,000 – $100,000Repayment terms2 – 12 years Eligibility requirements Soft credit check? No Minimum credit score: 660 Minimum income: Not disclosed States: All 50 states and Washington, D.C. Repayment terms LightStream offers some of the longest repayment terms of any lender, giving you up to 12 years to repay your loan. You can pay your loan off early, without a prepayment penalty and rate discounts can help bring the cost of your loan down. Upstart Best for Little to No Credit 4.8 /5 View Rates Upstart is best for borrowers with little credit history who want a quick online approval decision. Why Upstart is one of the best Upstart is an artificial intelligence (AI) lending marketplace that partners with banks to improve borrowing accessibility for people outside usual credit standards. Upstart’s lending model considers education, employment, and other variables when determining eligibility, not just credit score. This leads to 40% more approvals and 43% lower rates than traditional lending models. Upstart also offers borrowers a bit of breathing room with its 10-day grace period on late payments. It assesses a high origination fee, but this is a solid choice if you don’t have an extensive credit history. Rates (APR)7.80% – 35.99%Loan amounts$1,000 – $75,000Origination fee9% – 12%Repayment terms3 or 5 years Eligibility requirements Soft credit check? Yes Minimum credit score: 300 Minimum income: Not disclosed States: All 50 states and Washington, D.C. Repayment terms Upstart doesn’t offer as many loan terms as other lenders; you’ll pay your loan off over 3 or 5 years. You have the option to change your monthly payment due date and prepay your loan in part or in whole at any time, with penalty fee. Happy Money Best for Credit Card Debt 4.8 /5 View Rates We recommend Happy Money if you’re looking for an installment loan to pay off credit card debt at a lower rate. Why Happy Money is one of the best Happy Money matches borrowers with its lending partners to help them pay off high-interest credit cards. Its signature Payoff Loan enables you to consolidate multiple credit card payments into one loan to take control of your debt. You can streamline the debt consolidation process and let Happy Money pay off your creditors directly, though this isn’t required. If you choose to receive your loan proceeds (rather than creditors), expect funding times up to six business days. Happy Money is transparent about its rates, terms, and eligibility requirements, too. You’ll know exactly what to expect and whether Happy Money is a fit before applying. Rates (APR)12.45% – 17.99%Loan amounts$5,000 – $40,000Repayment terms2 – 5 years Eligibility requirements Soft credit check? Yes Minimum credit score: 640 Minimum income: Not disclosed States: Loans not offered in Nevada or Massachusetts Repayment terms Happy Money lets you choose personal loan terms ranging from 2 to 5 years, so you can get a payment that reflects your budget. There are no prepayment penalties, and you won’t be charged a fee if your payment is late. Happy Money doesn’t offer rate discounts at this time. How to qualify for an installment loan Here are steps to improve your approval odds: Check your credit score. Knowing where you stand helps target the right lenders. Compare lender requirements. Look at minimum income, employment status, and credit score needed. Prequalify. Many lenders offer soft credit checks to see your rates without impacting your score. Gather documents. This includes ID, proof of income, and bank statements. Submit a complete application. Double-check for errors to avoid delays. Pros and cons of installment loans Pros Predictable monthly payments Can help build credit with on-time payments Often lower interest rates than credit cards Cons High rates for bad credit Fees for origination or late payments Taking on debt can hurt finances if used irresponsibly Are installment loans legit? Yes, many online installment loan lenders (including those we listed above) are legitimate. To avoid scams: Make sure the lender is licensed in your state. Read customer reviews and Better Business Bureau ratings. Avoid lenders that guarantee approval without a credit check or ask for upfront fees. Alternatives to installment loans If you’re unsure whether an installment loan is right for you, consider: Personal line of credit: Flexible access to funds with revolving credit. Credit card with intro 0% interest offer: For short-term borrowing. Peer-to-peer loan: Funded by individual investors online. Payday alternative loan (PAL): Offered by credit unions with capped rates. FAQ What is the easiest installment loan to get? Lenders like Upstart are known for accepting applicants with limited credit history. However, easy approval often comes with higher rates, so compare carefully. Can I get an installment loan with bad credit? Yes, Upstart and other lenders specialize in bad credit installment loans, but you’ll pay higher interest rates. Prequalifying can help you find your best option without harming your score. Best for Comparison Shopping 5.0 View Rates View Rates Fixed APR 6.49% – 35.99% Funding $1K – $200K Term (Yrs.) 1 – 10 Min. Credit Score Varies 5.0 View Rates Best for Fast Approval 4.9 View Rates View Rates Fixed APR 8.99% – 35.49%* Funding $5K – $100K Term (Yrs.) 2 – 7 Min. Credit Score 650 4.9 View Rates Includes all discounts. Best for Fair Credit 4.9 View Rates View Rates Fixed APR 7.99% – 35.99 Funding $1K – $50K Term (Yrs.) 2 – 7 Min. Credit Score 580 4.9 View Rates Best for Low Interest 4.8 View Rates View Rates Fixed APR 6.94% – 25.29% Funding $5K – $100K Term (Yrs.) 2 – 12 Min. Credit Score 660 4.8 View Rates Best for Little to No Credit 4.8 View Rates View Rates Fixed APR 7.80% – 35.99% Funding $1K – $50K Term (Yrs.) 3 – 5 Min. Credit Score None 4.8 View Rates Best for Credit Card Debt 4.8 View Rates View Rates Fixed APR 8.95% – 29.99% Funding $5K – $40K Term (Yrs.) 2 – 5 Min. Credit Score 640 4.8 View Rates