You can borrow anywhere from a few thousand dollars to $100,000+ with a 560 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.
The best personal loans for a 560 credit score are from Upstart. The company offers $1,000 - $50,000 with APRs of 7.80% - 35.99% and repayment periods of 36, 60 months.
Best Personal Loans for a 560 Credit Score
| Lender | Loan Amounts | APRs | Credit Score Requirement |
| Upstart | $1,000 - $50,000 | 7.80% - 35.99% | None |
| Oportun | $300 - $10,000 | 35.95% - 35.99% | None |
| OneMain Financial | $1,500 - $20,000 | 18% - 35.99% | None |
| RISE | $300 - $5,000 | 60% - 299% | None |
| Jora Credit | $500 - $4,000 | 75% - 349% | None |
For more information, check out WalletHub’s complete picks for the best personal loans for bad credit. Then, you can estimate your potential rates with our free pre-qualification tool.
This answer was first published on 08/26/22 and it was last updated on 05/04/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
You can borrow anywhere from a few thousand dollars to $100,000+ with a 560 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.
Can I get a loan with a score of 560? ›
As mentioned, an 560 credit score is generally considered to be a poor credit rating. Depending on your other qualifications, such as income and employment, you may be able to qualify for certain types of loans (more on that in a bit).
What can I get with a 560 credit score? ›
What Does a 560 Credit Score Get You?
| Type of Credit | Do You Qualify? |
|---|
| Secured Credit Card | YES |
| Home Loan | YES (FHA Loan) |
| Unsecured Credit Card | MAYBE |
| Auto Loan | NO |
1 more rowBest Personal Loans for a 550 Credit Score
| Lender | Loan Amounts | APRs |
|---|
| Upstart | $1,000 - $50,000 | 7.80% - 35.99% |
| Oportun | $300 - $10,000 | 35.95% - 35.99% |
| OneMain Financial | $1,500 - $20,000 | 18% - 35.99% |
| RISE | $300 - $5,000 | 60% - 299% |
1 more rowAug 26, 2022
Requirements for a $3,000 Personal Loan
Credit score: Some personal loan lenders, such as Upstart, allow you to apply with a very low credit score. However, most set a minimum. Discover, for example, requires a minimum credit score of 660, while some others require a minimum of 700.
How much can I borrow with 560 credit score? ›
You can borrow anywhere from a few thousand dollars to $100,000+ with a 560 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.
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.
Is 560 a horrible credit score? ›
Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 560 FICO® Score is significantly below the average credit score. Many lenders choose not to do business with borrowers whose scores fall in the Very Poor range, on grounds they have unfavorable credit.
What is the minimum credit score for a loan? ›
No lender specifies a minimum CIBIL score requirement for a personal loan application. However, a score of 750 and above is preferred by lenders for loan applications. This score reflects the creditworthiness of the borrower and the chances of lenders approving the loan application with this score increases.
What credit score do I need for a $5000 loan? ›
Requirements for a $5,000 loan vary by lender. But in general, you should have at least Fair credit, which is a score of 580 or above. Lenders may also look at other factors, such as your income and your debt-to-income ratio (DTI), during the application process.
To qualify for a personal loan, borrowers generally need a minimum credit score of at least 580 — though certain lenders have even lower requirements than that. However, your chances of getting a low interest personal loan rate are much higher if you have a “very good” or “excellent” credit score of 740 and above.
