Debt Consolidation Loans
Combine multiple debts into one lower monthly payment.
Debt Consolidation Loan Overview
Debt consolidation loans let you roll credit cards, medical bills, and other debts into a single personal loan — often at a lower interest rate. Instead of juggling multiple payments and due dates, you make one fixed payment each month. This can save you hundreds or thousands in interest over the life of the loan while simplifying your finances.
Typical Amount
$10,000 – $35,000
APR Range
6.99% – 24.99%
Term
24 – 60 months
Tips for Debt Consolidation Loans
Add up all your current debts and interest rates before applying
Only consolidate if you can get a lower overall rate
Avoid running up new balances on cards you pay off
Look for lenders that offer direct payoff to creditors
Best Lenders for Debt Consolidation
| Lender | APR Range | Loan Amount | Min. Score | Funding | Rating | |
|---|---|---|---|---|---|---|
| SoFi Borrowers with good credit who want zero fees | 8.99% – 25.81% | $5,000 – $100,000 | 680 | Same day to a few days | Check Rate | |
| LightStream Excellent credit borrowers wanting the absolute lowest rates | 7.49% – 25.49% | $5,000 – $100,000 | 700 | Same day (with bank account verification) | Check Rate | |
| Upgrade Fair-credit borrowers who want flexibility and joint applications | 9.99% – 35.99% | $1,000 – $50,000 | 580 | 1 – 5 business days | Check Rate | |
| Best Egg Good-credit borrowers who need fast funding | 8.99% – 35.99% | $2,000 – $50,000 | 640 | Same day to next business day | Check Rate | |
| Avant Borrowers with average credit (580–700) who need fast funding | 9.95% – 35.99% | $2,000 – $35,000 | 580 | Next business day | Check Rate | |
| Marcus by Goldman Sachs Good-credit borrowers who want zero fees and payment flexibility | 8.99% – 25.99% | $3,500 – $40,000 | 660 | 1 – 4 business days | Check Rate |
Debt Consolidation Loan FAQs
Initially you may see a small dip from the hard inquiry, but paying down revolving debt typically improves your score within a few months. Many borrowers see a net positive impact.
How much do you need?
Check rates from 200+ lenders — no credit impact.