Personal Loans by Purpose

Different loan purposes come with different typical amounts, rates, and lender recommendations. Find the right fit for your situation.

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All Loan Types

Select your loan purpose to see recommended lenders, typical rates, and expert tips.

Debt Consolidation

Combine multiple debts into one lower monthly payment.

Typical Amount: $10,000 – $35,000APR Range: 6.99% – 24.99%Term: 24 – 60 months

Home Improvement

Finance renovations, repairs, and upgrades to your home.

Typical Amount: $5,000 – $50,000APR Range: 5.99% – 19.99%Term: 24 – 84 months

Medical Bills

Cover medical expenses and hospital bills with fixed payments.

Typical Amount: $2,000 – $25,000APR Range: 6.99% – 29.99%Term: 12 – 60 months

Auto Repair

Get your car fixed fast without draining your savings.

Typical Amount: $1,000 – $10,000APR Range: 7.99% – 29.99%Term: 12 – 36 months

Wedding

Fund your dream wedding with manageable monthly payments.

Typical Amount: $5,000 – $40,000APR Range: 5.99% – 21.99%Term: 24 – 60 months

Moving Costs

Cover relocation expenses — movers, deposits, and setup costs.

Typical Amount: $2,000 – $15,000APR Range: 6.99% – 24.99%Term: 12 – 48 months

Emergency Expenses

Get fast funding for unexpected financial emergencies.

Typical Amount: $1,000 – $20,000APR Range: 7.99% – 35.99%Term: 12 – 60 months

Education

Fund courses, certifications, and continuing education.

Typical Amount: $3,000 – $30,000APR Range: 5.99% – 22.99%Term: 24 – 72 months

Does Loan Purpose Affect Your Rate?

Most personal loans are unsecured and your rate is determined primarily by your credit score, income, and debt-to-income ratio — not the purpose itself. However, your stated purpose can affect which lenders you match with and whether you qualify for purpose-specific features like direct creditor payoff for debt consolidation.

Some lenders specialise in certain purposes. For example, LightStream offers lower rates for home improvement, while Upgrade and LendingClub offer direct pay for debt consolidation. Choosing the right purpose helps you find lenders optimised for your situation.

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