The best personal loans for fair credit feature low interest rates, easy application processes and fast funding. Some lenders also offer a variety of repayment terms, like 24 to 144 months, based on the loan amount and purpose.

If you’re looking to consolidate debt, look for a lender that can pay your creditors directly. This saves you time and hassle.

Payday Loans

A payday loan is a short-term personal loan that allows you to borrow money until your next paycheck. Often, this is enough to cover unexpected expenses like car repairs or medical bills. You can also use a payday cash loan to pay your rent or utilities. However, it is important to remember that a payday loan can have high interest rates and fees. To avoid paying unnecessary fees, you should try to get a personal loan from a lender that offers a reasonable rate.

A good place to start is with an online lender that provides a wide range of loans, including payday loans. Many of these lenders are authorised by the Financial Conduct Authority (FCA) to ensure that they follow responsible lending guidelines. They also offer competitive rates and terms for borrowers with a variety of credit profiles.

Another option for borrowers who need help covering a cash flow gap is to apply for a payday alternative loan, which is offered by credit unions. These loans typically have lower rates and fees than traditional payday loans, but they are only available to members of the credit union. Moreover, these loans don’t report to the big three credit bureaus, which means that they won’t damage your credit score. Additionally, they will have a much shorter repayment period than traditional payday loans, which can make them more manageable for borrowers with poor credit histories.

Best Egg

If you have a financial challenge you need help with, Best Egg is an online lender that provides personal loans to people with varying credit profiles. This lender offers a smooth prequalification and loan application process. Moreover, it offers a wide range of rates and loan amounts to suit various financial needs. The company also offers direct payments to creditors, which simplifies the debt consolidation process for borrowers.

Its online account portal allows loans for debt review clients south africa customers to view their loan details, including interest rates and terms. In addition, it allows borrowers to check their credit scores. It uses a soft inquiry to prequalify applicants, but a hard pull takes place after approval, which can temporarily lower a borrower’s credit score.

Besides offering unsecured and secured personal loans, Best Egg also offers mortgages and auto financing. Its mortgages feature flexible repayment terms, competitive interest rates and a low down payment requirement. Moreover, the lender’s auto loans feature flexible repayment terms and competitive interest rates.

Best Egg also offers a variety of personal loans for other purposes, including debt consolidation, home improvement, travel, babies and adoption, weddings and large purchases. Borrowers can choose a repayment term of two to four years, and the maximum loan amount depends on their financial status and debt-to-income ratio. Furthermore, the company reports loan payments to all three major credit bureaus, and on-time payments can improve a borrower’s credit score.

OneMain Financial

OneMain Financial offers unsecured personal loans up to $20,000, depending on state residency. They offer a quick turnaround time and cater to borrowers with less-than-ideal credit. Prospective borrowers can check their preapproval status on the lender’s website by entering basic information such as name, phone number and date of birth. Once a full application is submitted, the lender will perform a hard credit pull and verify income and address. If approved, a borrower will receive a formal loan agreement that will outline rates, terms and fees. If a borrower needs to supply additional documentation, OneMain Financial will accept government-issued ID, proof of income and proof of residence. Those who provide secured assets will also be required to submit a vehicle appraisal form.

While OneMain Financial is a lender with a strong online presence, they also have branch locations. This can be convenient for borrowers who prefer to visit a physical location or those who have questions about their application status. OneMain Financial’s mobile app provides a way for borrowers to access account information, including the ability to make a payment or view their VantageScore.

Those who are unhappy with their loan can contact customer service to request a change to the interest rate, term or payment due date. The company’s responsiveness to customer feedback is reflected in its Elliott Responsiveness Rating.

Upgrade

Upgrade is a leading personal loan lender that offers flexible terms and competitive rates. The company also provides borrowers with credit monitoring and educational tools. Its straightforward application process and accessibility to even the most creditworthy borrowers have garnered it a positive reputation online.

Applicants can get prequalified for a personal loan with Upgrade in minutes without impacting their credit score. The application requires a form of government-issued ID and documentation such as pay stubs and bank statements. Once approved, the borrower receives funds within four business days. The company also charges an origination fee, which is deducted from the total loan amount.

The company aims to be transparent about the costs associated with its loans. Borrowers can log into their account to view their balance and make payments. They can even choose their payment date to best fit their budget. In addition, the company has a mobile app that allows borrowers to access their account and apply for a new loan.

Although Upgrade does not offer a debt consolidation service, it offers a lower minimum loan amount than other lenders and can be an option for borrowers who want to refinance their current mortgage. It also offers an online calculator to help borrowers estimate the costs of different refinancing options. In comparison, LightStream offers more extensive terms for refinancing, including up to 12 years and does not charge origination fees.