How Much of a Personal Loan Can You Get? Typical Ranges
Most personal loans range from $1,000 to $100,000, but the amount you qualify for depends on your credit score, income, debt-to-income (DTI) ratio and the lender you choose. Borrowers with strong credit and steady income tend to qualify for the highest amounts and the lowest annual percentage rate (APR).
To get the most accurate picture of how much of a personal loan you can get, you’ll need to apply with several lenders.
Key Takeaways
How much of a personal loan can you get? Most range from $1,000 to $100,000: The amount you qualify for depends on your credit score, income, debt-to-income ratio and the lender you choose.
Strong credit unlocks the most: Excellent credit (740+) can qualify for up to $100,000 at 7% to 12% APR, while fair credit (580–669) typically lands $2,000 to $15,000 at higher rates.
The loan type shapes your limit: Secured loans can reach $100,000 (usually at 6% to 20% APR) because collateral reduces lenders' risk, while unsecured loans generally cap at around $50,000 for most borrowers.
Lender type matters too: Online lenders and banks often go up to $100,000, while credit unions may cap loans at $50,000 — but cap APRs at 18%.
Six factors drive your amount: Credit score, income, DTI (ideally under 36%), employment history, loan purpose and each lender's own limits.
The term changes the true cost: On a $10,000 loan at 10%, a five-year term costs $2,748 in interest versus just $550 over one year — lower monthly payments, but far more paid overall.
Summary generated by AI, verified by MoneyLion editors
Types of Personal Loans and How Much You Can Borrow
The type of personal loan you pick affects how much you can borrow and the APR you pay. Here is how the three main options compare.
Secured Personal Loans
A secured personal loan uses collateral like a car, savings account or certificate of deposit (CD) to back the loan. Because the lender assumes less risk, you can often borrow more — usually $2,000 to $100,000 — with APRs ranging from 6% to 20%.
Unsecured Personal Loans
An unsecured personal loan does not require collateral and is approved based on your credit and income. Loan amounts run from $1,000 to $50,000 for most borrowers, with APRs from about 7% to 36%.
Specialized Personal Loans
A specialized personal loan is built for a specific purpose like debt consolidation, home improvement or medical bills. Amounts usually fall between $1,000 and $50,000, and APRs range from 6% to 36%, depending on the lender and your credit.
Personal Loan Amounts by Lender Type
Different lenders offer different loan sizes and rates. Use the table to see where you might borrow the most.
Lender type | Typical loan range | Typical APR range |
|---|---|---|
Online lenders | $1,000 to $100,000 | 7% to 36% |
Banks | $3,000 to $100,000 | 6% to 25% |
Credit unions | $500 to $50,000 | 6% to 18% |
Peer-to-peer lenders | $1,000 to $50,000 | 8% to 36% |
Buy now, pay later or fintech apps | $100 to $5,000 | 0% to 36% |
How Your Credit Score Affects Your Loan Amount
Your credit tier is one of the biggest drivers of both loan size and APR.
Excellent credit (740 and up): You can often qualify for up to $100,000 with APRs from 7% to 12%.
Good credit (670 to 739): You can often qualify for $10,000 to $50,000 with APRs from 11% to 20%.
Fair credit (580 to 669): You can often qualify for $2,000 to $15,000 with APRs from 18% to 30%.
Poor credit (below 580): You may qualify for $500 to $5,000 with APRs from 25% to 36%, and a co-signer or collateral may be required.
6 Factors That Affect How Much Money You Can Borrow
Lenders consider a mix of factors to determine how much you can borrow. Here is what each one means.
Credit score: A three-digit number that shows how you have handled debt in the past. Higher scores unlock larger loans and lower APRs.
Income: The money you bring in each month before taxes. A steady, higher income supports a larger loan because you have more room to repay it.
Debt-to-income ratio: The share of your monthly income that already goes to debt payments. Most lenders want a DTI under 36% before offering top loan amounts.
Employment history: How long you have held steady work. Two or more years with the same employer signals stability to a lender.
Loan purpose: The reason you are borrowing. Debt consolidation and home improvement loans often qualify for higher limits than general personal loans.
Lender limits: The minimum and maximum amounts a lender is willing to offer. Online lenders and banks often go up to $100,000, while credit unions may cap loans at $50,000.
How To Calculate How Much You Can Borrow
The amount you can borrow will depend on your financial situation, credit score and lender policies.
Start by calculating how much the loan will cost you each month. Make sure you include interest on the loan, lender fees and your desired loan term length.
How Loan Term Affects the Cost
A longer loan term will mean lower monthly payments but more interest over the loan’s lifetime. For example, your monthly payments and total interest on a $10,000 loan at a 10% interest rate will vary with the loan term.
Five-year term: If you choose a five-year loan term, you’ll pay $212.47 every month for five years, for a total of $2,748.23 in interest.
One-year term: If you choose to repay the same loan over one year, you will need to pay $879.16 every month for a year. But you’ll only have to pay $549.91 in interest.
While the first option has more affordable monthly payments, you’ll pay much more for that convenience. To save more in the long term, calculate how much you can reasonably afford to put toward your monthly loan payment without putting your other expenses at risk to keep total costs down.
Quick Budget Example
Imagine you earn $5,000 monthly before taxes.
If you have a monthly mortgage payment of $1,500 plus other fixed expenses of another $1,000, paying off the loan in one year might put too much strain on your budget.
In that case, taking the longer term and asking the lender for a loan without an early repayment penalty can allow you to pay more whenever your budget allows.
How To Choose the Right Personal Loan
Choosing a loan amount that fits your financial situation and repayment ability is a personal decision. However, knowledge is power. The more you can compare lenders and research current interest rates, the more prepared you’ll be to choose a loan that fits your budget.
In addition to carefully shopping for personal loans, it’s essential to read the terms and conditions of the loan agreement before signing.
Other tips for choosing the right personal loan:
Check the lender's reputation and client reviews.
Compare maximum loan amounts from various lenders.
Consider alternative specialized loans, such as student debt refinancing or a home equity loan, if they fit your situation.
If you have factors working against you, like a low credit score, there are still options available. Consider personal loans for bad credit or working to improve your credit score before applying.
Final Notes on How Much You Can Borrow
Factors such as your DTI ratio, credit score, total income, employment history and even the loan purpose can affect the amount you can get for a personal loan.
Beyond that, personal loan amounts vary depending on your chosen lender and your overall financial situation at the time of application.
Remember only to borrow enough for the expense, as repaying the loan with interest can lead to greater financial strain long-term.
You can use a personal loan calculator to see how different amounts, interest rates and terms could affect your monthly payment and determine what you can comfortably afford.
How Much of a Personal Loan Can I Get FAQs
What is the minimum personal loan amount?
Most lenders start at $1,000, though some credit unions and fintech apps offer loans as small as $100 to $500.
What is the maximum personal loan amount?
The typical maximum is $100,000, and you usually need a credit score of 740 or higher, a DTI under 36% and a steady income to qualify at the top end.
How much can you borrow with a 600 credit score?
With a fair credit score of around 600, you can often borrow $2,000 to $15,000 with APRs from 18% to 30%.
How much can you borrow with a 750 credit score?
With excellent credit of 750, you can often borrow up to $100,000 at APRs ranging from 7% to 12%.
How can you qualify for a higher loan amount?
Raise your credit score above 740, keep your DTI under 36%, show at least two years of steady income and consider a secured loan or a co-signer.
Elizabeth Constantineau, CFHC™, contributed to editing this article.
Photo credit: Liubomyr Vorona / iStock.com
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