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Best $10,000 Personal Loans

February 2024

Are you in the market for a $10,000 personal loan? Find out what rates and terms you can expect from leading lenders.
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If you’re interested in a $10,000 loan, you are in the right place. You're not alone either. About 11% of Americans have a personal loan and the average loan balance is around $16K. Personal loans, also known as consumer loans or installment loans, are closed-end unsecured sources of credit. This means that, unlike mortgages and most auto loans, they don’t require collateral. And unlike credit cards, they have fixed payments for a specific period of time.
Here is our list of the best $10K personal loans currently available.


SuperMoney's list of the best-rated $10,000 personal loans is dynamically generated based on the qualitative recommendations of our community members and the quantitative recommendations of our ranking algorithms. We analyzed more than 100 lenders and focused on lenders that provide loan amounts of $10K or more at the best rates and terms.

What is the best $10K personal loan?

It depends on who is asking. Lenders vary their rates, fees, and loan offers considerably depending on the financial situation and credit history of applicants. When comparing $10K personal loans, it's important to apply for several personal loans and compare the rates you get to make sure you choose the right one for you.
Interest rates are not the only thing you should consider. Look into the fees the lender charges, such as origination fees, late fees, and prepayment fees. Lenders are required to state these fees before you apply, but you may have to read the fine print to spot them all. SuperMoney's loan offer engine simplifies things by clearly showing the fees, terms, monthly payments and interest you will be charged.
Here's a quick summary of what factors you should consider when looking for the best $10,000 personal loans.
  • Availability: Some lenders only operate in select states.
  • Purpose: Some lenders require that you use the funds for a reason specified in the loan application.
  • APR: How does the APR you're offered stack up against the competition? Some lenders allow you to check your credit without affecting your credit score.
  • Fees: How much is the origination fee? Do prepayment penalties apply?
  • Customer service: Is it difficult to reach a human in the customer service department? Can they answer all of your questions quickly and accurately?
  • Application process: Is the application process easy to use? And how long does it take to get funding once the loan application is approved?
  • Reputation: What do other borrowers say about their experience with them? Check SuperMoney's community rating before you choose a lender.

What should you expect when getting a $10,000 loan?

You would think that interest rates would be highly competitive when it comes to online personal loans because of how easy it is to compare multiple lenders. However, this is not the case. Although getting a personal loans is now faster and more convenient than ever, interest rates vary wildly depending on which lender you choose.
We recently analyzed nearly 160,000 loan offers to over 15,000 borrowers and found that the average difference between the highest and lowest APR offer (for the same borrower and loan term) was 7.1 percentage points. The cost difference between a 10% APR and a 17.1% APR on a $10,000 loan with a 5-year term is nearly $2,200. That is nearly 22% of the loan's principal.

What is the monthly payment on a $10,000 loan?

The monthly payment on a $10,000 loan will vary depending on the annual percentage rate (APR) and the duration of the loan. The table below illustrates how monthly payments change based on the APR and term.
APR12 months24 months36 months60 months

What is the best APR for a $10k personal loan?

Currently, APRs in our list of best $10,000 personal loans range from {{features_summary.interest-rate.lowest}}% to {{features_summary.interest-rate.highest}}%. Your rate will depend on many factors, such as your credit score and debt-to-income ratio.
The lowest APRs are only available to high-income borrowers with excellent credit. Compare at least three lenders from the list above to find the best loan offer available for your credit profile. SuperMoney's loan offer engine allows you to get multiple loan offers from top lenders with one easy form.

Are $10k personal loans a good idea?

If you have good credit and can qualify for some of the best-rated personal loans, $10K loans can be an excellent option for financing a big purchase or consolidating debt. But if you have poor credit, a $10K personal loan might come with an interest rate that is higher than some credit card interest rates. Make sure you understand the interest rate and fees involved before you accept a personal loan offer.

What credit score is needed for a $10,000 loan?

It depends on several factors, such as the lender you use, your income, and whether you have a cosigner. In general, the higher your credit score, the lower your interest rate will be. If you are struggling to get a loan because of your credit, the Consumer Finance Protection Bureau (CFPB) recommend checking your credit report, fixing any errors that could be lowering your score, and paying your bills on time so your score can improve over time. (source).
Although it is possible to get a $10K personal loans with bad credit, you will probably need to provide either a cosigner or some type of collateral to qualify for competitive rates. It also depends how bad your credit score is. A FICO credit score under 580 is considered to be poor credit. If your score is below that, it’ll be hard to qualify for an unsecured $10K personal loan. Most personal lenders won’t even consider an applicant with a credit score under 600. However, there are lenders, such as these, that specialize in borrowers with poor and bad credit.

What is the best way to prequalify for a $10K personal loan?

SuperMoney's loan offer engine allows you to check what rates and terms you prequalify for with leading lenders by completing one short form. There are no strings attached and it won't hurt your credit score.

About the Author

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SuperMoney is the most comprehensive financial services comparison site around. We have published hundreds of personal finance articles and provide detailed reviews on thousands of financial products and services. Our unbiased advice and free comparison tools help consumers make smart financial decisions based on hard data, not marketing gimmicks.

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