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How to Get a $100,000 Personal Loan Fast
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How to Get a $100,000 Personal Loan Fast

To qualify for a $100,000 personal loan, you’ll generally need good to excellent credit. If you have less-than-stellar credit, having a cosigner might help you get approved.

Kat Tretina Updated June 24, 2021

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

If you need to cover a substantial expense, a personal loan could be a good option. You can use a large loan — such as a $100,000 personal loan — for almost any significant expense, such as consolidating debt, installing a pool, or covering sudden medical bills.

Here’s what you should know before taking out a $100,000 personal loan:

Where to get a $100,000 loan
Use $100k personal loan calculator first
How to apply for a $100,000 personal loan
Factors to consider when comparing loans
Alternatives to personal loans
Is a $100,000 loan right for you?

Where to get a $100,000 loan

Below you’ll find some of your options to find a $100,000 loan:

Online lenders
Banks and credit unions

Online lenders

Online lenders can be a good place to look for a large personal loan. Credible is partnered with two online personal loan lenders that offer $100,000 personal loans:
Lender Fixed rates Loan amounts


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
2.49% - 19.99% APR $5,000 up to $100,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
5.99% - 18.83% APR $5,000 up to $100,000
Compare rates from these lenders without affecting your credit score. 100% free!


All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms

Lightstream offers personal loans from $5,000 to $100,000. Repayment terms generally range from two to seven years, though you could have up to 12 years to repay LightStream home improvement loans.
SoFi could be a good option if you’re looking for debt consolidation loans or other types of personal loans. You can borrow $5,000 to $100,000, with repayment terms from two to seven years.

If you’d consider a loan for a little less, you can check out our other partner lenders. The personal loan companies in the table below compete for your business through Credible, allowing you to compare prequalified, low interest personal loan rates from all of them by filling out a single form and without affecting your credit score.
Lender Fixed rates Loan amounts


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
9.95% - 35.99% APR $2,000 to $35,000**


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.79% - 17.99% APR $5,000 to $35,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99% - 29.99% APR $5,000 to $50,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.99% - 24.99% APR $2,500 to $35,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.99% - 29.99% APR $7,500 to $50,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
10.68% - 35.89% APR $1,000 to $40,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
15.49% - 35.99% APR $2,000 to $36,500


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
2.49% - 19.99% APR $5,000 to $100,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.99% - 19.99% APR1 $3,500 to $40,0002


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
18.0% - 35.99% APR $1,500 to $20,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99% - 24.99% APR $5,000 to $40,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99% - 17.99% APR $600 to $20,000
(depending on loan term)


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.95% - 35.99% APR $2,000 to $40,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99% - 18.83% APR $5,000 to $100,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
8.93% - 35.93% APR7 $1,000 to $20,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details

5.94% - 35.97% APR $1,000 to $50,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.46% - 35.99% APR4 $1,000 to $50,0005
Compare rates from these lenders without affecting your credit score. 100% free!




All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms

Banks and credit unions

Most financial institutions don’t offer personal loans as high as $100,000. But if you’re looking for a $100,000 personal loan from a bank, you could try Wells Fargo, which has higher limits than most banks. Citibank offers personal loans up to $30,000, though you might be able to borrow more if you visit a local branch. Some credit unions also provide large personal loans.

If your bank or credit union offers personal loans, you might get an interest rate discount as an existing customer. Many lenders also offer autopay discounts if you let them automatically withdraw your monthly loan payment from a checking account or savings account.
Learn more: If you’re a homeowner with equity in your home, you can also consider some alternatives to personal loans.
Where to get a $100k personal loan for bad credit

Because a $100,000 personal loan is such a large amount of money, lenders will typically only approve candidates who have very good or excellent credit as well as a steady source of income. If your credit is poor or fair — generally meaning it’s below 700 — it could be difficult to find a lender willing to work with you.

If you have less-than-stellar credit, you could consider applying for a smaller amount with a lender that offers bad credit loans. Or if you can wait before borrowing, it could be a better idea to focus on improving your credit score before applying.

A few ways to build your credit include:

Making all of your bill payments on time
Paying down existing debt
Limiting new credit inquiries

Tip: Some lenders allow cosigners on personal loans. Having a creditworthy cosigner could help you get approved for a loan.

Even if you don’t need a cosigner to qualify, having one might get you a lower interest rate than you’d get on your own.

If you decide to take out a personal loan, be sure to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

$100k personal loan calculator

Enter your loan information
Loan amount ? Enter the total amount borrowed $
Interest rate ? Enter your annual interest rate %
or
Loan term ? Enter the amount of time you have to repay your loan years
Total Payment
$32,433
Total Interest
$17,433
Monthly Payment
$270

With a $15,000 loan, you will pay $270 monthly and a total of $17,433 in interest over the life of your loan. You will pay a total of $32,433 over the life of the loan.

Need a personal loan?
Compare rates without affecting your credit score. 100% free!

Checking rates won’t affect your credit score.

To illustrate the relationship between the loan repayment term, interest rate, and monthly payment, we’ve put together the table below. The interest rates in the table are hypothetical, for purposes of illustration only.

What the table demonstrates is that you can expect to have a lower monthly payment but greater total finance charges if you choose to stretch your payments out over a longer period of time. You can use our personal loan calculator to run your own numbers.
Repayment term Interest rate Monthly payment Total interest
2 years
6% $4,432 $6,369
3 years 7% $3,088 $11,158
4 years 8% $2,441 $17,182
5 years 9% $2,076 $24,550
7 years 10% $1,660 $39,450

How to apply for a $100,000 personal loan

Applying for a personal loan — even one as large as $100,000 — is generally a straightforward process. Just follow these four steps:

Compare lenders: To start, research and compare as many lenders as possible to find the right loan for you. Be sure to compare not only interest rates but also repayment terms and any fees charged by the lender.
Choose the option you like most: After comparing lenders, pick the loan that best fits your needs.
Fill out the application: You’ll need to complete a full application and submit any required documentation, such as pay stubs or tax returns.
Get your funds: If you’re approved, you’ll need to sign for the loan so the lender can send you the money. Many lenders will deposit the funds directly into your bank account.

How fast can you get a $100,000 personal loan?

The time to fund for a $100,000 personal loan mainly depends.

For example, if you take out a loan with LightStream, you could get your money the same day you’re approved. With SoFi, you could get your money within three business days.

Other lenders might take several days to disburse your funds.

Factors to consider when comparing loans

A $100,000 personal loan can be used to undertake major home renovations, pay off medical bills, and even for debt consolidation — all without putting your home up as collateral.

But before pursuing such a large personal loan, you should do your research and take these factors into consideration:

Interest rate
Repayment term
Monthly payment
Total repayment costs

1. Interest rate

The interest rate is one of the most important factors to consider when shopping for a loan. It’s what you’ll pay in interest charges each year, expressed as a percentage.

Shopping for a loan would be simple if you could just look for the loan with the lowest rate. But your total interest payments will also depend on how long you take to pay back your loan, as well as any fees your lender charges.
Keep in mind: To help you understand the impact of any additional fees and expenses over the life of your loan, lenders are required to factor them into another calculation called the annual percentage rate (APR).

Like the interest rate, the APR is just one factor that determines your overall repayment costs.

2. Repayment term

Another crucial factor that affects your overall repayment cost is your repayment term, or how long you will have to pay back your loan. The loan term for a personal loan usually falls somewhere between two to seven years.
Keep in mind: The longer you take to pay back your loan, the more interest charges you’ll pay. However, a shorter term might not be feasible for a $100,000 loan, as the monthly payments could end up being too high to manage.

Long-term personal loans could be a more affordable option, although you’ll end up paying more in interest over time.

3. Monthly payment

A lower monthly payment doesn’t mean a loan will cost you less. In fact, it’s typically the opposite: To get a lower monthly payment, you’ll have to choose a longer repayment term, which will increase the total amount you’ll repay.

It’s important to understand the relationship between the interest rate, repayment term, and monthly payment:

The shorter the repayment term, the lower the interest rate offered by most lenders.
The longer the repayment term, the lower the monthly payment.

Tip: As a rule of thumb, you can often save money by choosing a loan with the shortest repayment term that you can still afford to make the monthly payment on.

4. Total repayment costs

Once you’ve found a loan that’s right for your situation, review the federal Truth in Lending Act (TILA) disclosure provided by your lender when you apply.
These are the numbers to look for:

The finance charge: This represents the total repayment cost of your loan, including interest and fees.
Total payments: This shows the total amount of all the payments you’ll make to pay off your loan — the loan principal plus finance charges.

Alternatives to personal loans

With the new options provided by online lenders, it’s now possible for a qualified borrower to get unsecured personal loans of $35,000; $50,000; or even $100,000 without putting their home up as collateral.

If you can’t qualify for a personal loan that size or the interest rate seems too high, here are some other options to consider:

Home equity loan: This is secured by the equity in your home. Like a personal loan, you’ll get the funds from a home equity loan as a lump sum. Keep in mind that if you can’t keep up with your payments, you could lose your home.
Home equity line of credit (HELOC): This also allows you to access the equity in your home. Unlike a home equity loan, a HELOC is a type of revolving credit — meaning you can repeatedly draw on and pay off your credit line. Just remember that your home could be at risk if you can’t make your payments.
Cash-out refinancing: With this, your existing mortgage is paid off and replaced by a new loan with a higher loan amount than what you owe on your home. You’ll get the extra amount to use as you’d like — minus any closing costs.

Keep in mind: When considering home equity loans vs. personal loans, remember that a loan that’s secured by your home will typically come with a lower interest rate.

You’ll still have to demonstrate that you have sufficient income to repay a home equity loan, but the minimum credit score requirements might be more relaxed than for large personal loans.

Is a $100,000 loan right for you?

Whether you’re taking out an unsecured personal loan or a loan secured by your home, make sure to do your homework and find the right lender, and choose the loan terms and monthly payment that fits your budget.

Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Ready to find your personal loan?
Credible makes it easy to find the right loan for you.

Free to use, no hidden fees
One simple form, easy to fill out and your info is protected
More options, pick the loan option that best fits your personal needs
Here for you. Our team is here to help you reach your financial goals


Checking rates won’t affect your credit

Keep Reading: HELOC vs. Home Equity Loan

About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
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