Where to get a $15,000 personal loan

Many lenders offer $15,000 loans, but it's important to compare rates and terms to find the right personal loan for you. Learn more

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You can find $15,000 personal loans through many online lenders, banks and credit unions. But to get the best deal, it pays to compare multiple offers. (iStock)

Whether you have a home remodeling project, need extra money for an upcoming move or have another large expense, you may be thinking about taking out a $15,000 personal loan. This type of loan provides funds now that you can repay over time. 

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

Visit Credible to see your prequalified personal loan rates from various lenders, without affecting your credit.

Where to get a $15,000 loan

As personal loan amounts go, $15,000 falls in the mid-range for many lenders. You likely won’t have any trouble finding a lender who offers personal loans for this amount. Since lenders have their own requirements for qualifying for a personal loan, it’s a good idea to research and compare all your options before choosing one.

Online lenders

Online lenders are convenient for personal loans because you can check rates and complete an application online. Funding is usually quick, with some lenders able to deliver funds within one to five business days. 

Because online lenders don’t have the overhead of physical branches, they’re often able to offer lower interest rates. The interest rate you qualify for from an online lender will depend on many factors, including your credit score and income.

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


Many banks offer $15,000 personal loans. You can sometimes qualify for loyalty discounts if you already have an account with the bank. But even as a loyal customer, you'll still need to meet the bank's credit and other requirements to qualify for a personal loan. 

Credit unions

Credit Unions are another place to find $15,000 personal loans. Because credit unions are not-for-profit organizations, they’re typically able to offer lower interest rates and more flexible terms than traditional banks. 

You’ll need to be a member of a credit union to get a personal loan from one, though, and to be a member you must meet the credit union’s eligibility criteria. Be sure to contact credit unions in your area that offer $15,000 personal loans and ask if you meet the criteria to qualify.

What credit score do you need for a $15K loan?

Credit score requirements will vary depending on the lender. To qualify for a loan and score the best rates, applicants typically need a good to excellent credit score, which is a FICO score of at least 670 or higher. 

Some lenders offer personal loans for borrowers with lower credit scores. Loans for individuals with fair or poor credit typically come with higher interest rates. If your credit score is less than ideal, consider applying with a cosigner with good credit to increase your chances of approval.

Credit scores are just one piece of the puzzle when qualifying for a $15,000 personal loan. Lending money is a risk, so lenders try to mitigate that risk by trying to get a more complete financial picture of applicants. Other factors that lenders may look at include your:

  • Debt-to-income ratio
  • Income
  • Payment history

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

The monthly payment on a $15,000 personal loan depends on your interest rate and repayment term. For example, a three-year loan term for a $15,000 loan at a rate of 6% would equate to a monthly payment of $456 and a total payment of $16,427. 

Meanwhile, a seven-year loan term with the same interest rate would give you a $219 monthly payment and a total payment of $18,406.

You can use a personal loan calculator to estimate your future loan payments.

Comparing $15K personal loan lenders

It's important to shop around for the best rates and terms when you’re looking for a personal loan. Here are a few other factors you should consider before applying for a loan: 

  • Loan amount: Amounts can vary depending on the lender. Determine how much money you need to borrow and look for lenders that match your needs. Only borrow what you need since you'll pay interest on all loan funds received.
  • Repayment term: Lenders typically offer a range of repayment terms from one to seven years. Choosing longer terms can help lower your monthly payments but can lead to paying more in interest over time.
  • Interest rate: Securing a lower interest rate can help you save money in interest charges over the life of your loan. That’s why it’s key to shop around and compare rates from multiple lenders before applying for a loan.
  • Fees: Some lenders charge an origination fee for processing your loan application, while others may charge a prepayment penalty for paying off your loan before the loan term ends. Check with lenders to see what fees are attached to personal loans.
  • Funding time: Online lenders are typically able to fund personal loans within one to five business days, while banks and credit unions may take up to a week. Determine how quickly you need access to loan funds and choose a lender that funds within your time frame.

How to apply for a $15,000 personal loan

The process to apply for a personal loan can vary between lenders. Follow these steps  when applying for a $15,000 personal loan: 

  1. Check your credit score: Knowing your credit score ahead of time will help you narrow down your search and get an idea of the rates you qualify for with eligible lenders. Use a site like AnnualCreditReport.com to view your credit report. If you find any errors, be sure to dispute them with the appropriate credit bureau to potentially improve your credit score.
  2. Gather documentation: You'll need to provide lenders with personal and financial information to verify your identity and determine your eligibility. Documentation may include a copy of your driver's license or other government-issued photo ID, social security number, contact information, and bank statements.
  3. Apply for a loan: Many lenders allow you to apply for a personal loan online. Follow the lender's instructions to fill out and submit your application. Ensure all information is complete and accurate before submitting.
  4. Wait for a decision: Lenders will review your application along with your financial and credit history to determine if you qualify for a loan and set your interest rate. If your application is approved, you can choose to accept the loan. The lender will release your funds shortly after.

Personal loan FAQs

Here are answers to some commonly asked questions about personal loans. 

What can you use a personal loan for?

You can use personal loans for almost any reason. Common uses for personal loans include home improvements, debt consolidation, medical expenses, large purchases, paying for events like weddings or vacations, moving costs and more. Generally, personal loan funds cannot be used for business expenses, college tuition or for a down payment on a house. 

Can you get a personal loan with bad or fair credit?

If you have bad or fair credit, you can still qualify for a personal loan through several lenders. These loans typically come with higher rates than those for borrowers with good to excellent credit. Some lenders allow you to apply with a cosigner if you don't qualify on your own, or if you want to land a better interest rate. 

You can also wait until your credit improves to get a personal loan at a better rate. If you choose to wait, do your best to reduce your debt-to-income (DTI) ratio, which compares how much of your monthly income goes toward paying your bills. Most personal loan lenders want to see a DTI ratio no higher than 40%.

What’s a personal loan origination fee?

Some lenders charge an origination fee to cover the cost of processing a loan. Typically, the origination fee is a percentage of the total loan amount taken from loan funds. For example, if you have a $15,000 personal loan, you’ll receive less than $15,000 if the lender charges an origination fee. 

APR vs. interest rate: What’s the difference?

The interest rate on a personal loan is the percentage the lender charges for giving you a loan. The lender applies the interest rate to the principal to determine how much interest you’ll pay over the life of the loan. Annual percentage rate, or APR, includes the interest rate and any fees associated with the loan. Because APR considers all the expenses associated with the loan, it’s a better indicator of a loan’s total cost.

To see what rates you may qualify for, use Credible to compare personal loan rates from multiple lenders.