4 Personal Loans To Apply To If Your Credit Score Is 740 Or Lower

Financial experts typically recommend that people begin building positive credit habits in order to work their way up to a good or excellent credit score. That’s because there are many advantages to having a credit score that sits in the “good” range (670–739). For one, a high credit score can help you get approved for financial products — like personal loans — with a lower interest rate. And keep in mind that lower interest rates allow you to save more money over the life of a loan.

Generally, the higher your credit score the lower your interest rate will be when you get approved for a personal loan. So if you’re still working your way up toward an excellent credit score but still need funding to cover large expenses like a home renovation or surprise medical bill, there are some personal loan lenders you might want to consider.

Below, Select rounded up four of the best personal loan lenders that accept applicants who have credit scores in the “good” range (no higher than 740). We looked at fees, interest rates and flexible repayment options for different credit scores. (You can read more about our methodology below.)

As you begin to search for a personal loan, it can be helpful to compare several different offers to find the best interest rate and payment terms for your needs. This comparison tool asks you 16 questions, including your annual income, date of birth and Social Security number in order for Even Financial to determine the top offers for you. The service is free, secure and does not affect your credit score.

This tool is provided and powered by Even Financial, a search and comparison engine that matches you with third-party lenders. Any information you provide is given directly to Even Financial and it may use this information in accordance with its own privacy policies and terms of service. By submitting your information, you agree to receive emails from Even. Select does not control and is not responsible for third party policies or practices, nor does Select have access to any data you provide. Select may receive an affiliate commission from partner offers in the Even Financial tool. The commission does not influence the selection in order of offers. 

Who’s this for? LightStream offers low-interest loans with flexible terms for people with good credit or higher. The lender even offers a 0.25% APY discount for using Autopay to make your monthly loan payments. If you’re applying for a personal loan with a credit score that falls in the “good” range (670-739), you stand a solid chance of getting approved for low interest rate from LightStream but, of course, the higher your credit score the lower your interest rate will be.

You can use a LightStream personal loan for just about anything except for funding higher education and small businesses; home renovations, debt consolidation, medical expenses and wedding expenses, to name a few, are all fair game.

You can generally receive your funds on the same day if you apply on a banking business day, your application is approved and you electronically sign your loan agreement and verify your direct deposit banking account information by 2:30 p.m. ET. But if you can’t make this deadline, you should be able to receive your funds the next business day.

Another pro to using this lender is that LightStream doesn’t charge any origination, administration or early payoff fees, and repayment terms range from 24 to 144 months.