How to build credit score Safe personal loans Low-interest personal loans with APR Starting As Low As 3.49%

Large Personal Loans

Doing some home renovations? Purchasing some pricey assets, maybe? Then you probably need funding for that. Large personal loans are meant for such cash needs.


How much do you know about them? We cover everything about large personal loans and point out some of the best lenders you can approach. Check this out;

  • Representative APR
  • Max Amount
  • Loan Term
  • 3.99% - 19.99%
  • $100,000
  • 24 – 84 months
  • 5.99% - 18.83%
  • $100,000
  • 24 - 84 months
Best egg
  • 5.99% - 29.99%
  • $30,000
  • 36 – 60 months
  • APR range
  • Fees
  • Terms
  • Amounth
  • Unemployment protection
Bank 1
  • 6.95%–35.89%
  • Up to 5% transfer fee
  • 3–5 years
  • $1,000–$40,000
  • No
Bank 2
  • 6.95%–35.89%
  • Up to 5% transfer fee
  • 3–5 years
  • $1,000–$40,000
  • No
Bank 3
  • 6.95%–35.89%
  • Up to 5% transfer fee
  • 3–5 years
  • $1,000–$40,000
  • No

Table of Contents

How do Large Personal Loans work?

Once you’ve figured out how much you need, you shop around for a lender. While at it, look for ones with lower interest rates.


Loan repayment terms are also crucial. Ensure you’re comfortable repaying the loan within the agreed period.


Once you find a lender with suitable terms, you fill out an application form. This is mostly done online. By the time of application, the lender will have likely already checked your credit background.


The lender will check your credit score and work out the suitable loan limit and interest rate for you. This will also help work out flexible repayment terms so you can pay back your loan with ease.


Once approved, you’ll have the money in your account within 24 hours. You’ll have up to 84 months to repay your loan.

Hot Tip:

Loan repayment terms are also crucial. Ensure you’re comfortable repaying the loan within the agreed period.

Requirements to Qualify

Qualifying for large personal loans, just like in other loan types, involves demonstrating your ability to repay it to the lender. So, different lenders have different methods of gauging that. However, the first step involves;


  1. Being 18 years and above
  2. Showing proof of income
  3. Being a legal resident of the USA


You’ll also need to have a good credit score to qualify for larger loans. However, many lenders will still offer you loans even with a credit score of less than 600.


With large loans, a guarantee can come in handy, especially if you have a lower credit score. It will unlock better credit terms and you could qualify for larger loans. A co-signer with a stellar credit score will be fine, too.


Showing a stable income using bank statements and tax returns will also help you qualify for higher loan limits.


Your debt-to-income ratio is also crucial. A higher debt-to-income ratio will deny you loans with some lenders. You can lower it by offsetting your existing loans.

What do you need to know

Most borrowers go for personal loans for debt consolidation. However, their use goes way past that. If you are looking to take one, here are the basic things you should know about it;


  • Interest rates: large personal loans, just like other personal loans, have a varied interest rate. The lender sets this based on the borrower’s debt profile. Therefore, your credit score and debt-to-income ratio will determine how much interest you’ll pay the lender. Our singled-out top lenders above charge an average APR of between 3.99 and 35.99%.
  • Repayment term: You’ll have up to 84 months to repay your loan. The agreed monthly payment is often flexible so you can service your loan with ease. Please note that the longer you take to repay your loan, the higher your interest rates will be.
  • Security: For secured personal large loans, you’ll need collateral. Having such often guarantees you better loan terms. You’re also likely to enjoy a faster approval rate with most lenders. Unsecured personal loans, on the other hand, won’t require you to have any asset in form of security.
  • Versatility: From carrying out home repairs to taking care of your construction or purchasing a new asset, large personal loans will come in handy. Unlike mortgages, large personal loans have no fixed use.


Strive to find lenders with not only lower interest rates but lower fees, too. Vet lenders based on how much they charge for such fees as origination fees, late payment fees, and prepayment penalties.


Be on the lookout for different lender discounts, too.

Types of Large Personal Loans

Looking to borrow a large personal loan? Here are some loan types you could consider;


  • Secured personal loans: Here, you take a loan against property or an asset. This could be your home, car, or other valuables. The property acts as collateral. Should you be unable to service your loan, your property will be possessed by the lender. Mortgages and car loans also fall in this category. Because this is a low-risk loan, you’ll enjoy low-interest rates. The bank, on the other hand, benefits from you defaulting on your loan.
  • Unsecured personal loans: Here, loans aren’t backed by any collateral. That makes them high-risk loans, especially for large loans. Hence, the lender charges higher interest rates. Large unsecured loans are an excellent option for debt consolidation and large purchases. They are mostly installment loans and are available even for borrowers with a poor credit profile.
  • Home equity loans: here, you borrow a loan against the value of your home. The amount you can borrow depends on how much you still owe in a mortgage. Lenders work this out by finding the difference between your home’s current market value and how much you still owe in mortgage.   
  • Title loans; these are loans borrowed against your car. Most lenders will allow you to borrow between 25% and 50% of your vehicle’s value. The lender will demand your vehicle’s title during approval. Title loans also carry higher interest rates.

How much can you borrow?

Different lenders have different pre-set maximum and minimum loan amounts they are willing to give borrowers. You can borrow from $2000 to $100,000.


The amount of loan you can access depends on such factors as your credit score, repayment history, and debt-to-income ratio.


You can crack higher loan limits if you have collateral. Getting a co-signer will also come in handy. Both will have you accessing faster approval, higher loan limits, and reduced interest rates.

Please note that lenders hardly give personal exceptions if you need loans higher than their maximum limits. Take your time and shop around for lenders offering the loan amounts you’re looking for.


While at, also consider interest rates and repayment terms. Shorter repayments are the most suitable since they carry lower interest rates and fees.

Hot Tip:

Lenders hardly give personal exceptions if you need loans higher than their maximum limits.

Large Personal Loans with low APR

Secured personal loans

Because you’ve already provided your home, car, or other property as your collateral, lenders will categorize yours as a low-risk loan. Your loan will, therefore, have a lower interest rate.


SoFi and LightStream offer some of the best-secured loan products even for people with low credit scores.

Pros Cons
Lower interest rates
You risk losing your asset should you default on payment
Faster approval rate
Access to larger loans

Co-signed loans

This is a personal loan product where the borrower finds a guarantor with a stellar credit score and steady income to guarantee a loan product.


It’s mostly preferred by lenders with a poor credit report. The guarantor accepts to offset the loan should you default it.


SoFi is one of the best lenders for this type of loan.

Pros Cons
Lower interest rates
The guarantor risks a negative credit score should you default on payment
Faster loan approval
Access to loans with low credit scores

Personal loan guaranteed approval

Different lenders have different approval criteria for specific loan products. Large personal loan lenders are not any different.


Lenders such as Best Egg and LightStream guarantee loans for borrowers with credit scores as low as 500.


Approach lenders with more favorable terms. Go for ones who aren’t too demanding and will readily approve your loan.


Keeping your credit score on check will also improve your chances. Work towards decreasing your total debts while improving your income.

Frequently Asked Questions (FAQ)

Yes. The lenders tabled above will offer you a loan with a credit score of below 600.

Most personal loan lenders don’t ask for collateral. However, having one can unlock higher loan limits and lower interest rates.

Different lenders charge different interest rates. Our top lenders charge an average APR of between 3.99 and 35.99%.

You can access up to $100,000 on large personal loans.

The above 5 lenders are the best in terms of loan terms, interest rates, approval for individuals with low credit, and loan limits.

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