Best Long-Term Personal Loans in 2024

What are the best long term personal loans in 2024? If you are looking for the answer, our guide will help. In the article, we’ve gathered the most up-to-date personal loan lenders offering long term loans for borrowing money with bad, fair, or good credit.

You no longer need to search independently for a reliable firm for your personal loan goals. All you need is now here in this article. Long term loans aren’t easy to get.

For most of them, you must have a decent credit score, a pretty long credit history, and be ready to provide a stable income source. However, there are still many options for any credit score.

If you need to cover a big purchase or stretch out the monthly payments for more extended repayment periods, we’ve got you!

Let’s read on to learn what types of unsecured personal loans can work best for you. You no longer need to worry about interest rates, fees, or scores. There’s for sure an option for you.

Long Term Personal Loans: Best Offers 2024

There are plenty of ways to get money on the Internet. Taking long term personal loans is one of them, compared to a short term loan. There is a short term loan together with long-term secured loans.

If you’re reading these lines, you must be interested in the second option. How to choose the most suitable lender and benefit from long term personal loans? A risky borrower often overpays or even gets scammed when choosing the wrong lender.

We’re here to help. We’ve researched the market and found the top 7 personal loan lenders to help you financially. Do you need to choose a bank or credit union institution? Let’s break this down into sections and discuss everything step-by-step together.


Let’s start with proven providers of long term personal loans with a good name on the web, fair terms and conditions, and a moderate minimum credit score. What’s Upgrade, and why should you try working with the lender? With the firm, you can consolidate debt and help your credit score grow. Here are some of the details you may find interesting.

Loan Amounts Interest Rate Loan Terms Fees Credit Score
$1,000-$50,000 8.24-35.97% APR 2 to 7 years 1.85% to 8.99% origination fees and a $10 late fee 560

Upgrade is known for its discounts. As a borrower, you can use multiple discount interest rates, including autopay, debt to income ratio, rewards checking, or direct pay discounts. With a low credit score and direct monthly payments to long term personal creditors, this is one of the credit types to open the doors for many borrowers.

What are the pros of managing your long term personal loans with the help of the Upgrade personal long term provider? We’ve already mentioned the multiple rate discounts and direct monthly payments to long term personal creditors.

However, it’s not the only benefit. You can request joint or co-signing long term personal loans, have long repayment terms of up to 7 years, and cope with all the tasks using a mobile application.

Are there any cons? Unfortunately, you will be charged the origination fee and a potential late fee in case of the deferred monthly payment. But the list of positive things outweighs the drawbacks, so you should give Upgrade a chance.

Personal Loans™

Do you struggle with a low credit score and want to improve it? There’s no need to work hard on your bad credit with the help of the service. This firm is best for borrowers with bad credit. What are some additional perks you can draw from working with long term personal loans from this company?

Loan Amounts Interest Rate Loan Terms Fees Credit Score
$1,000 to $35,000 5.99 – 35.99% APR 90 days – 72 months 1 – 5% origination fees 600

Poor long term personal credit is enough to qualify and get your money fast. You can also benefit from same day funding, get your money quickly, and don’t suffer from the high interest rates for borrowers.

Since it’s not a lender but rather a middleman in the long term personal application process. You will get an offer from a suitable lender with the help of the service. And it’s quite beneficial because you have a comprehensive list of options.

The issues may come with the higher APR. You may struggle with overpaying if you fail to land on the low APR side with your credit report. To calculate the APR before you decide, it’s better to contact the personal loan calculator. They have a decent support team to help the clients. Remember that the APR, in this case, will depend on the state.


Long term personal loans have a significant focus on their customers. You will receive decent support and answers to all your questions. What’s unique about the LightStream long term personal loans provider? It’s an excellent option for borrowers who need to cover significant expenses. You will receive a longer repayment term and be able to pay for a big purchase with the help of the service. Let’s learn some more details about the firm.

Loan Amounts Interest Rate Loan Terms Fees Credit Score
$5,000-$100,000 6.99-23.99% APR 2 to 7 years no fees 660

Comparatively low interest rates and zero fees make this service a true treasure for borrowers. Are long term personal loans expensive? With LightStream, you won’t have to overpay due to the reasonable fares.

What about the personal loan funds? You can get your money quickly, within a couple of days after the application of the long term personal loans.

Let’s also draw a line and see what features these long term personal loans have. The main benefit is the zero-fee policy. You will also be pleased with the low interest rates on monthly payments. The company has specific programs for borrowers to diversify their user experience.

Furthermore, it’s a great firm to take a long term loan. You can get a long repayment term to get your money back. If we look at the negative sides, we won’t see many. It’s important to have a solid credit score.

However, it’s not that high and rather manageable for many. And unfortunately, you won’t get direct monthly payments for debt consolidation. However, the list of positive sides makes long term personal loans worth a try.


If you have a decent credit score and want to use it reasonably, Discover will make it a reality with its low interest rates on unsecured personal loans. What do you need to know about the firm? It offers immaculate customer service to the customers. You can refinance or consolidate debt and enjoy communication with the team in case of any issues online.

Loan Amounts Interest Rate Loan Terms Fees Credit Score
$2,500-$35,000 6.99-24.99% APR 3 to 7 years $39 late fee 660

With the Discover service, you will get a chance to ask for unsecured loans. Do you need to specify the goal? Fortunately, the service doesn’t require borrowers to set goals. No matter your debt to income ratio or purpose for getting money, you still have all the chances to get approved. Not only is an online method possible but also a phone call can help you get a personal loan.

What great things are waiting for you with the Discover long term personal loans? There’s no origination fee imposed on the borrowers. You can pre-qualify with a soft credit check online using a well-built, customer-oriented mobile application.

What about long term personal loans and their funds? You can get fast funding with a long term personal loan.

A drawback, however, is a potential late fee if your monthly payment is overdue. Additionally, there are no rate discounts, but with reasonable terms, it shouldn’t be an issue for the borrowers.


Do you have bad credit but need to cover a large expense? There’s no need to work on your credit score right away. Upstart offers options for borrowers with low scores. There’s a different approach to the qualification process. If you have a good education and employment history or a good credit history, you can apply and get a positive answer.

Loan Amounts Interest Rate Loan Term Fees Credit Score
$1,000-$50,000 6.50-35.99% APR 3 to 5 years 0% to 10% origination fees and 5% late fee none

Upstart can compete with long term personal loans. How does it work, and what perks does it offer? Here are some of the critical benefits for the borrowers. First of all, you don’t need to have a high score to qualify for long term personal loans.

This loan proceeds with a low credit score. The second reason is the low monthly payment APR, which isn’t an option in many other personal loan providers. Furthermore, you can get fast funding.

However, certain drawbacks exist, such as an origination fee and differences in loan amounts or APRs depending on a loan term. Nonetheless, Upstart offers quite decent conditions for borrowers of any kind.


There are many borrowers with excellent credit and well-built monthly payment histories. If you’re one of them, SoFi should be a perfect option. The service offers long-term loans without any fees. You don’t need to cover any administrative expenses with the origination fee or pay for the deferred monthly payments with the late fee.

Loan Amounts Interest Rate Loan Term Fees Credit Score
$5,000-$100,000 7.99-23.43% APR 2 to 7 years no fees none

Can you use this service for a debt consolidation personal loan? It’s a perfect lender for long-term personal loans, as well as home equity loans and many other long-term personal loans. The application process is straightforward.

With fast funding and a great online experience, SoFi can lead among other long-term loan providers.

What actual pros will you get by working with SoFi? No fees, a wide range of loan amounts, joint options, and a great online experience make this firm a true winner. It doesn’t have physical branches, but its digital experience is well-known for being flawless.

First Tech Federal Credit Union

If you want to get a free checking account, join a community, and benefit from lower rates, then joining this credit union will pay off. With virtual or in-person communication, great fees, and a wide range of loan amounts, you can give this service a try with your personal long term loans.

Loan Amounts Interest Rate Personal Loan Term Fees Credit Score
$500-$500,000 8.99-13.25% APR 2 to 7 years no monthly fees fair to a good score is required

With the First Tech credit union, you won’t need to deal with high fees. There’s a low opening deposit and zero origination fee for credit union members. You don’t need to fit a lot of criteria to join.

The membership is quite easy to handle. Furthermore, you can customize the client experience and either choose a physical branch or use online services to manage your long term personal loan.

What are the drawbacks? The following things aren’t necessarily cons, but they are required. First, each member must open a savings account to join the credit union. And the second issue is the overdraft fees. They may seem quite expensive for many.

Summing Up Of Long Term Personal Loans 2024

Which service to try? A lot of short-term loans offer more or less the same features, but they still differ tremendously in detail. Hence, we’ve decided to make this choice more accessible for you and create a table to compare the shorter-term loan providers. Here, you will find the comparison of the main aspects, both the interest rate and fees, loan amounts, and loan terms, together with the required score.

Interest Rate Fees Personal Loan Amount Loan Term Required Credit Score
Upgrade 8.24-35.97% APR 1.85% to 8.99% origination fees and a $10 late fee $1,000-$50,000 2 to 5 years 560
Personal Loans 5.99 – 35.99% APR 1 – 5% origination fees $1,000 to $35,000 90 days – 72 months 600
LightStream 6.99-23.99% APR no fees $5,000-$100,000 2 to 7 years 660
Discover 6.99-24.99% APR $39 late fee $2,500-$35,000 3 to 7 years 660
Upstart 6.50-35.99% APR 0% to 10% origination fees and 5% late fee $1,000-$50,000 3 to 5 years none
SoFi 7.99-23.43% APR no fees $5,000-$100,000 2 to 7 years none
First Tech Federal Credit Union 8.99-13.25% APR no monthly fees $500-$500,000 2 to 7 years fair to good credit score is required

How to Compare Long Term Personal Loans

You now have the information about a comprehensive list of long term loans. Which one should you choose? The best way to compare the loan offers is by comparing the main characteristics. What are these? Carefully inspect the following elements of the monthly payment personal loan to see what the lender can offer clearly.

  • Loan amounts. If you need to cover a big purchase, it’s better to look for personal, shorter term loans with a high maximum credit amount. Otherwise, you can fail to meet your financial goals.
  • APR. Interest rates are important. The higher the fixed interest rate, the bigger the total loan cost. APR depends mainly on your score, loan terms, and additional aspects.
  • Fees. Many personal loan lenders provide credits with zero fees, while others impose huge prepayment penalties for their borrowers. If you don’t want to overpay for long term personal loans, it’s better to look for the fees.
  • Loan terms. The longer the times, the more convenient the repayment term will be. However, it often includes higher APR or fees.
  • Score. It’s one of the most decisive factors for borrowers. You can hardly get accepted if you don’t reach the bar for the low score requirement.

How to compare long term loans? A long term loan is a responsible decision, so you should be careful with your shorter term loan comparison. The list mentioned above includes the most critical aspects of long term personal loans every borrower has to consider.

What Is a Long Term Personal Loan?

What is a long term personal loan? How does it differ from a regular personal loan? In general, there are not too many differences. The main one is the repayment term. With a long term personal loan, you can have up to 12 years for specific purposes. On average, a long term loan has long repayment terms.

What are the benefits of taking a longer term personal loan? Why should you be careful with this type of credit and take it with more interest? There are many followers of this type of credit, encouraging others to take a chance. However, there’s more under the hood. Let’s determine the pros and cons of getting a long term personal loan.

How Do Long Term Personal Loans Work?

How do personal, shorter term loans work? As you’ve learned in the previous chapter, long term personal goals differ mainly in the repayment terms.

However, there’s more to figure out. You need to have a good grounding to take a long term loan. With an excellent credit score, positive monthly payment history, and decent goal for the long term personal loan, you can expect bigger repayment terms.

You have more time to repay the money you requested from the long term personal lender. It seems like a big yes for the borrowers. However, there’s a considerable drawback. The longer you repay the money, the bigger interest rates are imposed on you. In some cases, you’ll cover a bigger APR and a bigger number of prepayment penalties.

When to Consider a Long-Term Loan

Why do you need to get a longer term for your loan early? Is there any rule on when to make use of this opportunity? In general, there are two significant cases when you might want to sign the deal.

  • It would be best to have a large sum of money to have a favorable financial situation. It works perfectly for medical bills, home equity loan purposes, mortgages, or education purposes. Such expenses won’t be burdensome when you divide them by only a handful of years.
  • You want to have smaller monthly payments. It’s another case to consider when you may want to take better repayment terms. With a long term loan, you can stretch out the lower monthly payments, making them less tangible daily.

With this type of credit, you can borrow money quickly, extend the lower monthly payments for a longer period, and cover a larger expense than a regular credit card.

Where to Get a Long-Term Personal Loan

A long term personal loan can be easy to get if you know where to go for long term personal loans. Multiple institutions offer an option to take a long-term personal loan with any credit card debt.

These are banks, credit unions, and online lenders. What is the difference between all of them? Why should you prefer one over another? It’s a complex question, but let’s break it down into pieces and find the answer.


Why bank statements? There are many more ways to take long term personal loans, but many people still consider banks their primary solution. What’s so special about long term loans from banks?

First, banks can provide their customers with a lower interest rate. It can be a considerable plus for a wide range of borrowers. The second reason is flexibility. Banks will not set strict rules on long term personal loan purposes.

You can spend your money in any way you want as long as you repay long term personal loans. The only thing that can be seen as a drawback is a pretty tough qualification process.

Credit Unions

Credit unions are faithful helpers for those needing stability and future guarantees. What makes people go for credit unions and take a long term personal loan from a financial institution? There are a couple of reasons.

The main one is a lower interest rate. When you request a long term personal loan through credit unions, in most cases, a loan cost will be less than in other facilities.

Better accessibility to various types of long term loans, various community perks, and discounts make credit unions even more appealing. The only thing to mention is the membership in credit unions. Not everyone is eager to join the community due to the monthly payment of credit card debt. And in some cases, it’s a specific option for certain groups of people, such as the military.

Online Lenders

Online lenders are widespread these days. You don’t need to make much effort to find an excellent online lender and ask for long term personal loans. Online lenders are services where one can find a lender directly or access the net of long term personal loan providers. What are the benefits of working with an online lending service?

  • First of all, everything is done online with more interest. You don’t need to go to the physical branch to sign the papers. The whole process should be entirely digitized to make the customer experience the best.
  • The second reason is convenience. In most cases, online lenders don’t only have a website but also provide their clients with a handy mobile application to manage transactions.
  • The third significant benefit of online lenders is the diversity of short term loans. You can find a lot of short term lenders offering small personal loans to borrowers. It’s easier to compare lenders, their fees, APRs, and terms and conditions online.

Should you choose an online lender? If you want to make things fast, get access to the platform to manage your tasks online, and have a big choice of long term personal loan providers, then you should consider working with an online provider.

Pros and Cons of Long Term Loans

You’ve learned what types of long term loans are there, where to get them, and what the best style for this kind of long term personal loan is. But there may still be some difficulties in making a decision. Hopefully, the list of pros and cons can help make the last step. What are the positive sides of requesting long term personal credit? There are lots of them, but let’s focus our attention on the main three:

  • First of all, you can get more money than with long term personal loans or with a credit card. If it’s a larger loan cost, it’s a great alternative to the mentioned methods.
  • You’ll get a lower monthly payment. You will have more time to repay the money, so the general stress will be reduced.
  • Borrowers can benefit from a better interest rate than other home improvement loans.

There are actual benefits to obtaining a long term personal loan for a more extended period. However, each borrower has to know a couple of drawbacks. First off, it requires good credit. In most cases, you’ll need to prove your creditworthiness to get the monthly budget. The second negative side may be the money paid for long term personal loans.

Nevertheless, this type of long term personal loan has pros and cons. It’s still a very profitable way to save on lower monthly payments and cover a big expense or existing debt. So, it would be best if you considered a chance to take a long term loan.


In most cases, multiple lenders offer from 5 to 7 years for borrowers who want to take a long term loan. However, the repayment period can be even longer. In some cases, it can take up to 12 years, for example, for home equity loan purposes.

Yes, you can get a long term personal loan for 10 years. Multiple lenders offer this option. However, you will need to prove your creditworthiness and stable income and specify the goal for paying interest and a prolonged repayment period. Otherwise, the online lender may not accept your application for being unreasonable.

There are many banks you can get approval for a long term personal loan from. If you want to make it an easier path, you should look for banks with low score requirements. If you can reach the long term personal score bar, the whole application and approval procedure will get much easier and less burdensome.

If you have a good credit score, can prove a stable income source, and don’t have major issues with your monthly payment history, any type of long term personal loan will work for you. However, even without a flawless history of monthly payments, you can apply for a long term loan. There are lenders to help.

Even though a long term personal loan offers smaller monthly payments and is excellent for larger expenses, it has certain drawbacks. You need to have a good score and prove your income sources, and you might overpay in the end if comparing lenders with other types of home improvement loans.