Check your Approval Odds for a $9,500 loan
Image: 9500-1How (and where) to get a $9,500 personal loan
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Several lenders offer $9,500 loans, but the right option for you depends on your financial situation.
If you qualify, a personal loan can come with competitive interest rates and minimal or no fees. But finding the right fit depends on several factors, including your credit profile.
We’ve selected our favorite lenders that offer $9,500 loans, along with a simple guide to applying for personal loans to help you in your shopping process.
Average monthly payments for a $9,500 unsecured loan by loan duration and credit score range
| Loan duration | Poor credit | Average credit | Good credit | Excellent credit |
|---|---|---|---|---|
| 1–12 months | $1,050.58 | $916.38 | $910.88 | $847.27 |
| 13–24 months | $524.08 | $493.84 | $456.26 | $444.70 |
| 25–36 months | $357.95 | $347.82 | $324.72 | $305.70 |
| 37–48 months | $304.52 | $294.16 | 268.74 | $249.36 |
The best $9,500 personal loans
American Express
American Express personal loans feature no origination fees or prepayment penalties. But you have to be an eligible American Express cardholder to apply, and once you receive an offer, you have to formally accept within three days or the offer is rescinded.
Avant
Avant offers personal loans specially designed for borrowers with fair credit. But the highest rates with the lender can be costly. Adding to the cost, Avant may charge you an administration fee when you take out your loan, and the lender also charges late and “dishonored” payment fees.
Laurel Road
Laurel Road offers an entirely online process, and if you set up automatic payments from your bank account, you’ll earn a rate discount. Plus, it doesn’t charge origination or prepayment fees. But loan term options are limited.
LightStream
Only borrowers with good-to-excellent credit can qualify with LightStream, but the lender offers competitive interest rates and a rate discount for autopay. Unfortunately, there’s no prequalification process available.
Wells Fargo
You won’t be charged an origination fee or prepayment penalty. And setting up autopay will qualify you for an interest rate discount. But you must already be a Wells Fargo customer to apply for a loan. And while Wells Fargo offers a rate-estimate calculator, it doesn’t provide the option to prequalify, so your only application option comes with a hard credit check.
How to get a $9,500 loan
Applying for a $9,500 loan can take some work, but it’s worth the effort if you can save money by consolidating debt at a lower rate or finance a necessary purchase.
Start by collecting basic information about your finances, such as …
- W2s
- Recent paystubs
- Identification/Social Security number/driver’s license
- Desired loan amount
- Monthly expenses, such as housing costs and debt
- Information about any collateral you want to use
From there, it’s a good idea to apply for prequalification. This lets you preview your potential rate without a hard credit inquiry. It will also give you a good idea of which lender may be the best fit for you.
Once you decide to move forward and officially apply though, the lender will likely perform a hard credit inquiry that can have a temporary effect on your credit scores.
If you apply for a personal loan, you may be able to access money within a few days.
FAQs about $9,500 loans
With emergency loans you can potentially get funds transferred to your bank account on the same day you’re approved, but the exact timing depends on the lender and your bank. If you need fast funding, it’s best to contact lenders directly to get a clear idea of how (and how quickly) they might send your funds. Keep in mind that speed can come at the cost of high interest rates and fees.
$9,500 loans may be available to borrowers with different kinds of credit histories, but each lender will have its own requirements for approval. It’s worth keeping in mind that the best loan terms usually go only to people with excellent credit. If a lender advertises rates starting in the single digits, try to find out their full range of available rates and fees to get a better sense of their offerings.
$9,500 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don’t have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind. It’s a good idea to apply to prequalify with various lenders so you can shop around and compare potential offers without a hard credit inquiry that can temporarily hurt your credit scores.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.