🏧
Debt & Loan Management
Personal Loan Eligibility Calculator
Estimate your approval likelihood and APR range based on your credit score before you apply.
This personal loan eligibility calculator estimates your approval likelihood and expected APR range based on your credit score, income, and debt-to-income ratio — the three primary factors lenders evaluate. Credit score maps to an industry-average APR range (based on 2025 lender data from LendingTree, NerdWallet, and Bankrate). While not a formal pre-qualification, this tool helps you understand where you stand before submitting a hard inquiry that affects your credit score.
🏧 Loan & Profile Details
🏧
Enter your details to estimate your personal loan eligibility and expected APR range.
Frequently Asked Questions
Most lenders require 580+ for approval. 720+ gets the best rates (6–12% APR). 580–679 qualifies but at higher rates (21–36%). Below 580, options are limited to credit unions, secured loans, or peer-to-peer platforms. Credit score is the #1 factor after income verification.
Yes — a formal application triggers a hard inquiry, temporarily reducing your score by 5–10 points. However, most lenders offer soft-inquiry pre-qualification checks that don't affect your score. Rate shopping within a 14–45 day window counts as a single inquiry under FICO and VantageScore models.
Personal loans have lower fixed APRs (for good credit), fixed monthly payments, and a clear payoff date — ideal for consolidation. Credit cards have variable rates and no forced payoff timeline. For $5,000+ in high-APR credit card debt, consolidating to a personal loan at a lower fixed rate almost always saves money.