How to get a $ 15,000 personal loan

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Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours.

You can find $ 15,000 personal loans from several online lenders, banks, and credit unions.

Whether you have a home improvement project, need extra cash for an upcoming move, or have another big expense, you may be thinking about taking out a $ 15,000 loan. A personal loan provides funds now that you can repay over time.

Many lenders offer personal loans of this size, but interest rates and loan terms can vary widely. Comparing several lenders will help you find the right loan for your needs.

You can easily compare the personal loan rates of various lenders with Credible.

Understand the basics of a personal loan

Knowing what to look for in a personal loan will help you narrow down your options to find the one that’s right for you. Consider these factors when choosing a $ 15,000 personal loan.

Interest rate

The interest rate on your loan has a huge impact on the total amount you will end up paying. Eligibility for lower rates can potentially save you hundreds or thousands of dollars in interest charges over the life of the loan. Your credit is often the determining factor in the interest rate you receive. Some lenders allow you to check the rates before you apply without affecting your credit score.

Monthly payment

Before taking out a personal loan, make sure you can afford your monthly payments. The amount of the loan and the repayment terms will determine your monthly payments.

Repayment Terms

The repayment terms for personal loans vary, often ranging from one to seven years. In most cases, a shorter loan term means a lower interest rate. Shorter terms usually also mean higher monthly payments.

Costs

It is not uncommon for some lenders to charge fees on personal loans. The origination fee, for example, covers the cost of processing a loan. If you fail to make your payment on time, you may also be subject to late payment fees. Always read the fine print of your loan before signing anything.

Total capital

The total amount of your loan is your principal. As you make payments, part of your payment goes towards paying principal, while the rest goes towards accrued interest.

Total interest

The amount of interest you pay on your loan depends on your interest rate, the terms of your loan, and whether or not you take the entire repayment period to pay off your loan. You can save money by paying off your loan in advance, as long as your lender doesn’t have a prepayment penalty.

Online lenders who offer $ 15,000 personal loans

Online lenders are convenient for personal loans because you can check the rates online and the funding is usually quick. The following 17 lenders are credible partners and all offer personal loans of $ 15,000.

Before

  • Loan amounts: $ 2,000 to $ 35,000
  • Loan conditions : Two to five years
  • Best for: Quick financing

Axos

  • Loan amounts: $ 5,000 to $ 35,000
  • Loan conditions : One to five years
  • Best for: Borrowers with excellent credit

Best egg

  • Loan amounts: $ 2,000 to $ 50,000
  • Loan conditions : Two to five years
  • Best for: Borrowers with good credit

Discover

  • Loan amounts: $ 2,500 to $ 35,000
  • Loan conditions : Three to seven years
  • Best for: Longer repayment terms

FreedomMore

  • Loan amounts: $ 7,500 to $ 50,000
  • Loan conditions : Two to five years
  • Best for: Pay off high interest credit card debt

Loan Club

  • Loan amounts: $ 1,000 to $ 40,000
  • Loan conditions : Three or five years
  • Best for: Borrowers with a strong credit history

Point Ready

  • Loan amounts: $ 2,000 to $ 36,500
  • Loan conditions : Two to four years
  • Best for: Small loan amounts

LightStream

  • Loan amounts: $ 5,000 to $ 100,000
  • Loan conditions : Two to seven years (12 for renovation loans)
  • Best for: Home improvement projects

Marcus

  • Loan amounts: $ 3,500 to $ 40,000
  • Loan conditions : Three to six years
  • Best for: Borrowers who want a monthly payment adapted to their budget

OneMain Financial

  • Loan amounts: $ 1,500 to $ 20,000
  • Loan conditions : Two to five years
  • Best for: Borrowers with below-average credit

To pay

  • Loan amounts: $ 5,000 to $ 40,000
  • Loan conditions : Two to five years
  • Best for: Borrowers who want to increase their credit score

PenFed

  • Loan amounts: $ 600 to $ 50,000
  • Loan conditions : One to five years
  • Best for: Debt consolidation

Prosper

  • Loan amounts: $ 2,000 to $ 40,000
  • Loan conditions : Three or five years
  • Best for: Borrowers who want to repay their loan sooner than expected

SoFi

  • Loan amounts: $ 5,000 to $ 100,000
  • Loan conditions : Two to seven years
  • Best for: Larger loan amounts

Universal Credit

  • Loan amounts: $ 1,000 to $ 50,000
  • Loan conditions : Three to five years
  • Best for: Credit Card Refund Loans

To improve

  • Loan amounts: $ 1,000 to $ 50,000 (minimums vary by state)
  • Loan conditions : Two to seven years
  • Best for: Fast approval

Reached

  • Loan amounts: $ 1,000 to $ 50,000
  • Loan conditions : Three to five years
  • Best for: Borrowers with a solid education or professional background

Check out Credible to compare personal loan rates and find the one that’s right for you in minutes.

Banks that offer $ 15,000 personal loans

Many banks also offer $ 15,000 personal loans, but many banks do not. You can sometimes benefit from loyalty discounts if you already have an account with the bank.

Popular banks that offer $ 15,000 personal loans include:

  • American Express
  • Citibank
  • HSBC Bank
  • PNC Bank
  • Bank of regions
  • Santander Bank
  • TD Bank
  • United States
  • American Bank
  • Wells fargo

Credit unions that offer $ 15,000 personal loans

Since credit unions are non-profit institutions, most of them pass savings on to their members through lower rates and other benefits. In most cases, you must be a current member or become a member to qualify for a personal loan through a credit union.

Here are some credit unions that offer personal loans of $ 15,000:

  • Caisse populaire d’Alliant
  • Connexus Credit Union
  • Consumer Credit Union
  • First Tech Federal Credit Union
  • Federal Navy Credit Union
  • Suncoast Credit Union

What is the monthly payment for a $ 15,000 loan?

The monthly loan payment of $ 15,000 depends on your interest rate and your repayment terms. You can use a personal loan calculator to estimate your future loan payments.

For example, a three-year term for a $ 15,000 loan at a 6% rate would equate to a monthly payment of $ 456 and a total payment of $ 16,427. Meanwhile, a seven-year loan with the same interest rate would give you a monthly payment of $ 219 and a total payment of $ 18,406.

Compare personal loans with Credible to find the one that fits your needs.

Get a $ 15,000 loan with fair or bad credit

If your credit is bad or fair, you can still qualify for a personal loan from several lenders. These loans usually have higher rates than those of people with good to excellent credit.

Some lenders allow you to apply with a co-signer if you are not eligible on your own or want to get a better interest rate. You can also wait until your credit improves to get a personal loan at a better rate.


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