Lending For Bad Credit is not a lender, makes no credit decisions, charges no fee, and cannot guarantee a connection with a lender, a loan, or the loan amount. Not available in all states, including Connecticut, New Hampshire, Vermont, and Washington; a lender may run a credit check or verify your details. Short-term loans are not a long-term financial solution, and amounts and terms vary by state and lender. The lender sets the APR, fees, and terms. Lending For Bad Credit's 35.99% APR cap covers only visitors from its Google or Bing ads; other visitors, including those from Financer, may receive higher rates (per the brand, October 2026).
We can't guarantee the data is fully accurate every day.
Filters
Loan amount
Loan purpose
Product Statistics
A complete breakdown of all data points across the products in this comparison to help you make the right decision.
Payday loan
1 (3.7%)
Personal loan
8 (29.6%)
Debt consolidation
3 (11.1%)
Car loan
3 (11.1%)
Tribal loan
2 (7.4%)
Loan amount
$0 - $400,000 ($32,694.46)
Loan term
1 week - 240 months (51 months)
Annual interest rate
1.99% - 1,564% (61.62%)
Minimum age
18 - 18 (18)
Minimum income
$0 - $2,000 ($614.81)
Domestic bank account
19 (70.4%)
National phone number
23 (85.2%)
Citizenship
16 (59.3%)
Electronic identification
24 (88.9%)
Accepts Bad Credit History
25 (92.6%)
Payout within 24 hours
20 (74.1%)
Weekend Payout
1 (3.7%)
Loan extensions
15 (55.6%)
Early repayment
23 (85.2%)
Loan broker
18 (66.7%)
Interest-free first loan
0 (0%)
Cosigner possible
4 (14.8%)
Approval rate
80% - 85% (81.67%)
Right to cancel
11 (40.7%)
Statistics based on 27 Loans products in our database.
CompanyLowestHighest
Lending For Bad Credit5.99%35.99%
PersonalLoans.com5.99%35.99%
Fast5KLoans5.99%35.99%
Your Premier Lending5.99%35.99%
Low Credit Finance5.99%35.99%
Consumers Credit Union4.99%20.49%
BadCreditLoans.com5.99%35.99%
Honest Loans5.99%35.99%
GetCash.com5.99%35.99%
Upgrade7.74%35.99%
LendKey2.09%16.08%
Upstart7.8%35.99%
Upstart6.2%35.99%
Caribou4.39%28.55%
SoFi6.99%35.49%
5KFunds5.99%35.99%
Universal Credit11.69%35.99%
Prosper8.99%35.99%
Ascent Funding1.99%18.19%
Cash Advance15%1,564%
CreditFresh143%600%
LoansUnder365.99%35.99%
SecureSpeedyLoans5.99%35.99%
CashUSA5.99%35.99%
Loan in Personal5.99%35.99%
Fast Loan Advance5.99%35.99%
BMG Money19.99%35.99%
Interest Rates
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Historical Personal loans new york Interest Rates
Average rates tracked monthly across 45 providers
Average rates tracked monthly across 45 providers
Average
Lowest
Highest
Aug 2025
152.51%
1.26%
1,646.58%
Sep 2025
154.93%
1.33%
1,667.75%
Oct 2025
156.62%
1.38%
1,682.54%
Nov 2025
157.02%
1.39%
1,685.99%
Dec 2025
155.84%
1.36%
1,675.65%
Jan 2026
153.15%
1.28%
1,652.17%
Feb 2026
149.37%
1.18%
1,619.09%
Mar 2026
145.14%
1.06%
1,582.11%
Apr 2026
141.21%
0.95%
1,547.77%
May 2026
138.27%
0.87%
1,522.06%
Jun 2026
136.78%
0.82%
1,509.02%
Jul 2026
136.88%
0.83%
1,509.89%
Aug 2026
143.07%
1%
1,564%
Oct 2026
131.57%
1%
1,564%
Nov 2026
131.57%
1%
1,564%
Current Average131.57%→ 0pp
Lowest Available1%
Highest Available1,564%
Providers Tracked45
Financer's Choice
Top Rated
Lending For Bad Credit
Free to submit a loan request. The lender sets the APR and fees; the brand's 35.99% cap covers only its Google or Bing ad visitors, so rates reached from Financer may be higher (per Lending For Bad Credit, October 2026).
Phone (833) 321-7764, a contact form, and a mailing address in Overland Park, Kansas. Once you are connected, the lender handles your loan.
Requests of $100 - $40,000, all credit considered, four states excluded. Historically, most people offered a loan only saw short-term options of $100 - $2,500.
The form takes two minutes or less, per the brand. Trustpilot: TrustScore 2.5 out of 5 from 4 reviews (October 16, 2026), reporting calls and emails after submitting.
Get exclusive terms from the best financial companies
Personal Loans in New York: What You Need to Know
New York has some of the strictest lending regulations in the country. Payday loans are completely illegal in the state, whether offered in person, by phone, or online. The New York Attorney General's office actively pursues lenders who try to circumvent this ban.
But that does not mean you are out of options. Personal loans from licensed lenders and online platforms are fully legal and widely available to New York residents. The state's usury laws actually protect borrowers by capping interest rates well below what many other states allow.
New York's civil usury cap is 16% per year for most personal loans under $250,000. Licensed lenders can charge up to 25% APR under the state banking law. For context, many states allow rates up to 36% or higher on personal loans, so New York borrowers benefit from some of the lowest legal rate caps nationwide.
Use the comparison tool above to compare personal loan offers available in New York and find the best rate for your situation.
Advantages of Getting a Personal Loan in New York
New York's rate caps protect you from predatory interest rates (max 25% APR for licensed lenders)
Apply online from anywhere in New York state and get funds as soon as the next business day
No collateral required for most personal loans, unlike auto title loans or pawn shop loans
Fixed monthly payments make budgeting predictable compared to credit card debt
Strong consumer protections through the NY Department of Financial Services
New York Loan Laws and Interest Rate Caps
New York has a two-tier interest rate system that every borrower should understand before applying for a loan.
Civil Usury Cap (16% APR): Under New York General Obligations Law Section 5-501, the maximum interest rate for most personal loans of $250,000 or less is 16% per year. Loans that exceed this rate can be voided by a court, and the borrower may not have to repay the excess interest.
Criminal Usury Cap (25% APR): Under New York Penal Law Section 190.40, charging more than 25% annual interest on any loan is a criminal offense (a class E felony). This applies to all lenders, including those licensed under the banking law.
Licensed Lender Exception: Banks and lenders licensed by the New York Department of Financial Services (DFS) can charge up to 25% APR under Banking Law Section 108. This is the cap you will typically encounter with online personal loan platforms.
The check cashing of postdated checks is also not allowed in the state, which is one of the mechanisms payday lenders use in other states.
The Department of Financial Services (DFS) is the primary regulatory authority for all lending in New York. If you suspect a lender is operating illegally or charging rates above the legal cap, you can file a complaint with DFS at 1-800-342-3736 or through their website.
Are Payday Loans Legal in New York?
No. Payday loans are illegal in New York state. The ban covers all payday lending activity, whether conducted in person, by telephone, or online. It is also a violation of New York law for a debt collector to attempt to collect on a payday loan issued to a New York resident.
The New York Attorney General has taken enforcement action against multiple online payday lenders who attempted to offer loans to New York residents. If you have been contacted by a payday lender or believe you have received an illegal payday loan, report it to the Attorney General's office.
Here is why New York banned payday lending:
Why Payday Lending Is Illegal in New York
Payday loans trap borrowers in cycles of debt. A 2012 industry report found the average borrower takes out eight loans per year and spends five months indebted
The true cost is extreme. A $15 fee on a $100 two-week loan equals roughly 391% APR. Some payday lenders charge rates as high as 900% APR
Borrowers who cannot repay on time are forced to renew or extend, adding new fees each time without reducing the principal balance
Insufficient funds fees pile up when automatic withdrawals hit accounts without enough money, creating additional financial damage
Best Alternatives to Payday Loans in New York
Since payday loans are not available in New York, here are the legal alternatives that can help you access funds quickly:
Online Personal Loans: Licensed online lenders like SoFi (5.99%-29.99% APR), Upstart (6.6%-35.99% APR), and Upgrade offer personal loans to New York residents with fast approval and funding. Loan amounts typically range from $1,000 to $100,000 depending on your credit profile.
Credit Union Loans: New York credit unions often offer the lowest rates on small personal loans. PenFed, for example, offers rates starting at 1.79% APR. You will need to be a member, but many credit unions have flexible membership requirements.
Bank Personal Loans: Major banks operating in New York, including Citi, Wells Fargo, and TD Bank, offer personal loans with competitive rates for existing customers. TD Bank was named "best personal loan from a bank" by Bankrate.
Credit Cards: For smaller amounts, a credit card with a 0% introductory APR period can be a cost-effective option. Compare the best credit cards to find offers with long promotional periods.
Lines of Credit: A personal line of credit gives you flexible access to funds you can draw on as needed, rather than receiving a lump sum.
How to Get a Personal Loan in New York
Getting a personal loan in New York follows the same general process as other states, but the state's rate caps work in your favor.
1. Check your credit score. New York's average credit score is 722 (Experian), which is above the national average of 714. A higher score qualifies you for lower rates. You can check your score for free through AnnualCreditReport.com.
2. Compare multiple lenders. Use the comparison tool at the top of this page to see rates from multiple lenders at once. Because New York caps rates at 25% APR, you are already protected from the worst offers, but shopping around can still save you thousands.
3. Get prequalified. Most online lenders offer prequalification with a soft credit check that will not affect your score. This lets you see estimated rates before committing.
4. Gather your documents. You will typically need proof of identity, proof of income (pay stubs or tax returns), proof of address, and your Social Security number.
5. Submit your application. Once you have chosen a lender, complete the full application. Approval decisions often come within minutes for online lenders.
6. Receive your funds. Many lenders can deposit funds as soon as the next business day after approval. Some banks offer same-day funding for existing customers.
Personal Loans for Bad Credit in New York
If your credit score is below 670, you still have options for personal loans in New York. Several online lenders specialize in bad credit loans and accept applicants with lower scores.
Lenders like Upstart use alternative data (including education and employment history) alongside your credit score to make approval decisions. This can help borrowers with thin credit files or lower scores qualify for better rates.
Keep in mind that New York's 25% APR cap still applies to all licensed lenders, so even bad credit borrowers in New York pay less than they might in states without rate caps. In states like Texas or Nevada, bad credit personal loans can carry APRs of 100% or more.
To improve your chances of approval with better rates, consider checking your credit report for errors, paying down existing debt, and adding a co-signer with stronger credit.
Frequently Asked Questions About Loans in New York
Are payday loans legal in New York?
No. Payday loans are completely illegal in New York state. The ban covers in-person, telephone, and online payday lending. It is also illegal for a debt collector to try to collect on a payday loan issued to a New York resident. If you have been contacted by a payday lender, report it to the New York Attorney General's office.
What is the maximum interest rate on a personal loan in New York?
New York has a civil usury cap of 16% APR for most personal loans under $250,000. Licensed lenders (banks and registered lending companies) can charge up to 25% APR under the state banking law. Charging more than 25% on any loan is a criminal offense in New York.
Can I get a personal loan in New York with bad credit?
Yes. Several online lenders offer personal loans to New York residents with credit scores below 670. Lenders like Upstart consider alternative data such as education and employment history in addition to your credit score. New York's rate cap of 25% APR also protects bad credit borrowers from extremely high rates that are common in other states.
How fast can I get a personal loan in New York?
Many online lenders can approve your application within minutes and deposit funds as soon as the next business day. Some banks, like TD Bank, offer same-day funding for existing customers. Credit unions may take 2-5 business days depending on the institution.
What do I need to apply for a personal loan in New York?
You typically need proof of identity (driver's license or state ID), proof of income (recent pay stubs or tax returns), proof of New York residency, your Social Security number, and bank account information for fund deposits. Some lenders may require additional documentation depending on the loan amount.
