Written by Carol Pope | Edited by Katie Lowery and Pearly Huang | Reviewed December 28, 2023
| Lender | User ratings | APR range | Loan terms | Loan amounts | Best for… |
|---|---|---|---|---|---|
 | 7.49% - 25.49% (with autopay) | 24 to 144 months | $5,000 - $100,000 | Overall borrowing experience | |
 | 13.39% - 24.91% | 36 to 120 months | $10,000 - $200,000 | Large long-term loans | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 7.99% - 24.99% | 36 to 84 months | $2,500 - $40,000 | Long-term loans with low APR |
 | User ratings coming soon | 8.99% - 18.00% | Up to 180 months | $250 - $50,000 | Long-term home improvement loans |
 | 6.99% - 24.99% (with autopay) | 36 to 84 months | $5,000 - $50,000 | Long-term loans with fast funding | |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 8.99% - 25.81% (with discounts) | 24 to 84 months | $5,000 - $100,000 | Long-term loans with no fees |
 | 8.49% - 35.99% (with autopay) | 24 to 84 months | $1,000 - $50,000 | Long-term loans for bad-credit borrowers |
Read more about how we chose our picks for the best lenders for long-term loans.
| APR range | 7.49% - 25.49% (with autopay and excellent credit) |
| Loan amounts | $5,000 to $100,000 |
| Loan terms | 24 to 144 months |
| Origination fee | No origination fee |
| Minimum credit score | Good-to-excellent credit |
| Pros | Cons |
|---|---|
No origination fee or prepayment penalties Rate Beat Program may lower your APR by .10 percentage points Offers same-day funding At 144 months, offers one of the longest repayment terms on the market | Doesn’t offer prequalification Unclear eligibility requirements, “good” credit required Must enroll in autopay for the lowest APRs |
LightStream’s unique Rate Beat program could lower their already competitive APR — if a competitor offers you a lower APR, LightStream may beat that lower rate by .10 percentage points as long as you have the same loan terms with the competitor. However, those with subprime credit likely won’t qualify, and you’ll have to submit to a hard credit check to get an idea of the rates you may qualify for since the company doesn’t offer prequalification. Read our full LightStream review.
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
LightStream will offer a rate .10 percentage points lower than the rate offered on any competing lender’s unsecured loan provided that you were approved for that lower rate (with the same loan terms offered by LightStream) no later than 2 p.m. Eastern time two business days prior to loan funding. The Rate Beat Program excludes secured or collateralized loan offers from any lender, and the competitive offer must be available to any customer with a similar credit profile. Terms are subject to change at any time.
| APR range | 13.39% - 24.91% |
| Loan amounts | $10,000 to $200,000 |
| Loan terms | 36 to 120 months |
| Origination fee | 2.00% - 4.00% |
| Minimum credit score | 660 |
| Pros | Cons |
|---|---|
Applicants can prequalify to avoid credit impact High maximum loan amount ($200,000) Customer service is available seven days a week | Not available in Illinois or Maryland Charges an origination fee of 2.00% - 4.00% of the total loan amount Slow funding timeline |
Aside from personal information like your name and Social Security number, to get a loan with BHG Money, you’ll need to:
Depending on your credit profile, you may need to provide additional, undisclosed documentation.
| APR range | 7.99% - 24.99% |
| Loan amounts | $2,500 to $40,000 |
| Loan terms | 36 to 84 months |
| Origination fee | No origination fee |
| Minimum credit score | 720 |
| Pros | Cons |
|---|---|
Funding available as soon as one business day after loan acceptance Repayment assistance like loan deferral may be available No origination fee Qualified borrowers could see an APR as low as 7.99% | Doesn’t allow joint applications $39 late payment fee Low maximum loan amount ($40,000) |
Other than meeting Discover’s minimum credit score threshold, applicants must:
| APR range | 8.99% - 18.00% |
| Loan amounts | $250 to $50,000 |
| Loan terms | Up to 180 months |
| Origination fee | None |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Offers same-day funding No origination or prepayment fees Low maximum APR 180 -month loan term available for home improvement loans | Does not disclose minimum credit score Must be an eligible military member to qualify Need a co-applicant to be eligible for the highest loan amount |
Upgrading your home can be expensive, but Navy Federal Credit Union‘s extended 180-month loan term may help you spread out your payments on a home improvement loan. To qualify for the largest loan amount ($150,000), you must apply with a co-borrower, and if you’re seeking a loan term longer than 60 months, the loan amount must be higher than $25,000.
But first, you must qualify for membership — only active duty, reservists, ROTC, veterans, military retirees, Department of Defense personnel and their select family members are eligible to join. Those who qualify could enjoy a broad range of loan amounts with one of the longest terms on the market, all with a competitive APR and no additional fees. Read our full Navy Federal Credit Union review.
To receive a long-term loan from Navy Federal Credit Union, you must have a qualifying military affiliation and the following:
| APR range | 6.99% - 24.99% (with autopay) |
| Loan amounts | $5,000 to $50,000 |
| Loan terms | 36 to 84 months |
| Origination fee | No origination fee |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
Offers same-day funding Applicants can prequalify to avoid credit impact No origination fees | Not available in all states Minimum credit requirement is not disclosed Autopay discount is only available if you have payments drafted from a Santander checking account |
| APR range | 8.99% - 25.81% (with discounts) |
| Loan amounts | $5,000 to $100,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 0.00% - 6.00% |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
No late payment fees or origination fees required Co-applicants allowed Unemployment Assistance program available during qualifying times of hardship | High minimum loan amount ($5,000) No physical branch locations Borrowers with fair credit may not qualify |
In addition to meeting SoFi’s minimum credit score requirement of 680, you must also be:
| APR range | 8.49% - 35.99% (with autopay) |
| Loan amounts | $1,000 to $50,000 |
| Loan terms | 24 to 84 months |
| Origination fee | 1.85% - 9.99% |
| Minimum credit score | 580 |
| Pros | Cons |
|---|---|
May be available to those with bad credit Low minimum loan amount Joint applications available | Potential for high origination fee High maximum APR (35.99%) Charges late fees |
After prequalifying and submitting your final loan application, Upgrade will require the following documents:
Long-term loans are like other types of personal loans but with longer repayment terms (usually 60 months or longer). Because you have more time to pay off your loan, long-term personal loans may offer higher loan amounts — sometimes exceeding $100,000.
Since the risk of default is higher on a long-term loan, APRs also tend to be higher than those offered on shorter loan terms. Although your monthly loan payment may be lower with a long loan term, keep in mind that you’ll pay more in interest over the life of the loan, increasing your total cost of borrowing.
Many borrowers turn to long-term loans for high-dollar transactions, such as debt consolidation, home improvement and medical financing.
Taking out a long-term personal loan isn’t a decision to take lightly. After all, you could be paying off your debt for close to a decade or more. When comparing lenders, keeping the following metrics in mind to find the loan that is best for your needs.
With just a few clicks, you may receive up to five personal loan offers from lenders on LendingTree’s personal loan marketplace. Comparing multiple loan offers before signing on the dotted line can save you money in interest and fees.When shopping for your long-term loan, think about how long you want to take on additional debt. A longer loan term may mean lower monthly payments, but you’ll end up paying more interest over time. It’s smart to choose the shortest term you can comfortably afford.
Finding a lender that can offer you the amount of money you need is critical. If your loan isn’t enough to cover your needs, you might find yourself applying for a second loan. If you overborrow, you could land yourself in a cycle of debt.
Ask yourself why you need a long-term loan in the first place. According to a 2023 LendingTree survey, more than half of borrowers took out their loan for debt consolidation. If this is you, start by adding up the debt you aim to consolidate and then compare the total interest paid to guide your decision.
Not only do APRs vary widely across lenders, but across credit bands, too. You may want to prioritize lenders that offer a prequalification process so you can review the lender’s proposed APR and terms without taking a hit to your credit.
Generally, long-term loans are best for borrowers with good-to-excellent credit. If you’re working on improving your credit, you may still qualify for a long-term loan but you should be prepared for higher interest rates. Regardless of your credit score, avoid APRs above 36%, which financial experts consider to be the highest affordable APR. If you’re offered a higher rate (even one in the triple digits), you might be dealing with a predatory lender.
Some lenders charge origination fees and prepayment penalties. While these fees can easily be avoided by selecting a no-fee personal loan, it’s a good idea to do the math and determine which loan is truly the best deal. A loan with a small origination fee and low APR may end up being less expensive than a no-fee loan with a high APR.
How quickly do you need access to cash? If you’re up against the wall due to a financial emergency, you may want to choose a lender that has same- or next-day approval and loan disbursement.
If you’re having trouble choosing between lenders, evaluating borrower perks can be a good tie-breaker. SoFi, for example, offers loan forbearance (or a payment pause) during eligible times of unemployment.
Selecting a lender known for excellent customer service may also be a boon if you have a long-term personal loan. If you’ll be paying your loan off for more than five years, chances are good that you’ll need to talk to your lender about something during that time. Reading customer reviews and those written by LendingTree’s financial experts could provide insight into how a lender does business.
A long-term personal loan isn’t necessarily a bad idea — personal loans are a financial tool that, when used wisely, provide much-needed relief for millions of Americans every year. Still, you should only borrow what you can afford to repay. Compare lenders to ensure you’re getting the best terms for your personal situation and remember that you’ll pay more in interest with a longer loan term.
Not all lenders offer long-term personal loans, but you might have luck by contacting brick-and-mortar banks, credit unions and online lenders. Even if an institution does offer long-term loans, you’ll still need to meet its eligibility requirements to be approved.
Of the lenders on our list, Navy Federal Credit Union offers the longest loan term at 180 months (or 15 years). However, only NFCU’s home improvement and savings secured loan products are eligible for this extended term.
