HomeBlogPersonal Loans10 Year Personal Loan

10 Year Personal Loans

Compare monthly payment options from several lenders in under 2 minutes.

Check Offers
A woman is using the Fiona Template to control her smart home app on her phone.

Learn Your Options for 10 Year Personal Loans

If you are on the lookout for a 10-year personal loan, you may be looking to make a big purchase soon or perhaps have an upcoming home improvement project. To estimate what monthly payments might look like, you should gather some offers and use a 10-year personal loan calculator. A personal loan calculator can help you estimate monthly payments while considering factors like the interest rate, term, and loan amount. They can also help you estimate the total overall loan costs. For example, if you are trying to estimate the monthly payment for a 25k personal loan over 10 years, use a personal loan calculator! Or perhaps you want to estimate the payment for a 30,000 personal loan over 10 years, again, use a personal loan payment calculator.

Check Offers
Quick. Simple. Secure.

How To Apply For 10 Year Personal Loans

A blue icon with a leaf on a monitor and a phone.


Fill out an easy online form to check for pre-qualified offers with no impact to your credit score
A mobile phone and a tablet with a list on it.

Select offer

Compare terms and payment options to select the offer that’s best for you
A mobile phone and a tablet with a building on it.

Finish application

Complete your application on your selected lender’s website
A hand holding a dollar sign.

Receive funding

After your loan is approved, your funds should arrive within 1-2 business days2

Check offers
in seconds

Get pre-qualified for loan offers with an easy online form

Won't impact
credit scores

Checking offers will not impact your credit score

payment options

Compare rates from our network of lenders

funds quickly

Same-day and next-day available for certain offers2

Compare Rates From Lenders in Our Network

Learn More About 10 Year Personal Loans

While you can easily estimate monthly payments, you should base estimates off numbers from an actual offer. So how can you get a personal loan offer? At Acorn Finance, you can receive pre-qualified offers without any impact to your credit score.

Read more - FAQ


Are there 10 year personal loans?

10-year personal loans do exist, but may be harder to find compared to shorter term personal loans. Some lenders may offer personal loan terms up to 12 years. However, 10-12 years is usually the point where lenders tend to cap out and draw lines. Instead of reaching out to several lenders to ask what terms they offer or running several Google searches, you can just apply at Acorn Finance. Acorn Finance has lending partners that can offer personal loan terms up to 12 years.
When reviewing offers for a 10-year personal loan, you should focus on the interest rate. When you use a longer loan term, you typically incur more interest charges. You should find a lender that can offer you a 10-year term and a competitive interest rate. However, if you have bad credit, you may have to settle for a shorter term, higher rate, or lower loan amount than desired.

What are the benefits of a 10 year personal loan?

Before you get a 10-year personal loan, you might still be on the fence about whether or not this is the best idea for you to consider. Therefore, it's vital that you know some of the main benefits that can come with a long-term loan such as this one. Here are some of the critical things to keep in mind.
Longer payment term (may mean lower payments)
Access to funds quickly
No collateral
Competitive interest rates
In some cases, a 10-year loan may be offered with the same interest rates as a 5-year loan or shorter term. However, in other cases the term may significantly impact the interest rate. Some may be quick to assume that a longer term instantly means a lower payment. However, this is not always true. When reviewing offers you should keep an open mind and evaluate each element of the offer.

What is the best way to get a 10 year personal loan?

Shopping for a 10-year personal loan may leave you with fewer options than shopping for a 3 or 5- year personal loan. Similar to other tasks we accomplish, you are probably trying to find the most efficient and best way to get a 10-year personal loan.

You may want to start by contacting your primary financial institution. If they have 10-year terms available, they may be able to tell you if you qualify or not without an application. Whether they offer or do not offer 10-year personal loans, you should visit Acorn Finance. Acorn Finance can connect users to some of the best lenders that specialize in personal loans. If you need to secure a personal loan quickly, your first stop should be Acorn Finance. Within 60 seconds or less, you can receive loan offers with no impact to your credit score.

How much can I borrow for a 10 year personal loan?

A better way to approach this question is to determine how much you need to borrow. Next, you will need to find out if you can afford the monthly payment with a 10-year term. How much you can borrow for a 10-year personal loan is usually determined on a case-by-case basis. We encourage you to apply for the amount you need. If the lender is unable to approve the amount requested they should counteroffer with a lower amount. Just be sure that the amount you request does not exceed the maximum loan amount available with the lender.

If you have bad credit, lenders may be hesitant to offer a long loan term such as 10-years. Keep in mind, an unsecured personal loan involves a lot of risk for the lender. They do not have collateral or down payment, all they can do is try to approve borrowers they feel confident will repay. If you have bad credit and can qualify for a 10-year personal loan, you should expect a high interest rate. You may be better off using a shorter term with a lower interest rate, if possible.

Do I need good credit for a 10 year personal loan?

Most likely, you'll need decent to good credit to qualify for a 10-year loan. A longer loan term equals more time at risk for the lender. Therefore, they may be more selective about which borrowers can qualify. However, don't be afraid to apply. The worst they can say is no. They may even counteroffer with reduced terms.

What do lenders look for when approving a 10 year personal loan?

What a lender looks for, usually depends on the lender. Lenders can evaluate borrowers using just about any factors they prefer. When financial institutions loan money, they want to do everything they can to ensure they make good loans. While credit score and credit history can impact loan decisions, other factors lenders may consider include:
Debt-to-income ratio
Job stability

Where can I get approved for a 10 year personal loan?

The first step toward obtaining a 10-year personal loan approval is applying. You may already know this but are unsure of where to apply. Whether you are ready to sign on the dotted line or just want to check offers, you can check offers at Acorn Finance. If you choose to move forward with an offer through Acorn Finance, the lender can finalize the approval and fund the loan.

While you may prefer a bank or credit union, they often have slower application and funding processes and more strict approval requirements. Online lenders may be more convenient. If you have credit challenges, you should be more concerned with qualifying for a personal loan rather than being determined to get a 10-year loan. Borrowers with credit challenges should try to rebuild their credit. The more positive marks you can establish on your credit history, the better chance you have of improving your credit score.

How hard is it to get a $20,000 personal loan for 10 years?

The difficulty involved with getting a $20,000 personal loan for 10 years can rely heavily on the borrower and their finances. First of all, can you cover the monthly payment? Next, how much debt do you already have? Will you be using the personal loan to consolidate other debts? Before a lender approves a $20,000 loan they will want to evaluate your finances. If they have any concern that you might not be able to handle the payment, they may not offer you a loan. While it's confusing for borrowers, lenders often offer higher interest rates to high risk borrowers. Some may think this is insensitive, but put yourself in the shoes of the lender. If they are taking a big risk, there needs to be a big reward.
You may also struggle to find a lender that offers a 10-year repayment term for $20,000. While $20,000 may seem like a lot of money, wait til you look at what it might cost to borrow it for 10-years. If you want to borrow $20,000 you should be able to repay it much sooner than $20,000. In most cases, lenders have set repayment terms that vary depending on the loan amount and what a borrower qualifies for. Before applying for a $20,000 personal loan with a 10-year term you should make sure this is something a lender can even accommodate.
To help simplify the process of getting a $20,000 personal loan, you should have the following documents handy:
Proof of income
Related financial statements
Proof of residence
It could be quite difficult for you to acquire an unsecured personal loan for $20,000 with a 10-year repayment period, depending on your individual credit makeup. For example, if you have a lower credit score combined with a higher debt to income ratio, you may find it pretty difficult to find a lender who will loan you an additional $20,000 on top of the debts you already have. For a $20,000 loan, you should have a minimum credit score of 670 to have a good shot at qualifying. However, you may qualify with a lower credit score. Regardless of your credit score you should have a reasonable debt-to-income ratio as well. Your debt-to-income ratio is a telling sign for lenders that shows that you should be able to make the monthly payments each month while keeping up with other commitments.
The main factors that contribute to whether or not you will be able to qualify for an unsecured personal loan of $20,000, or how difficult the process may be, usually depends on your overall credit score and your debt to income ratio. Heavy emphasis on the debt to income ratio. Even if you have good credit, if you have a lot of existing debt payments, banks may refuse you for a personal loan because they suspect you may be stretching it pretty thin to make all the monthly payments and to make them on time. The best thing you can do before applying for any personal loan is to pay down as much of your existing debt as possible. Doing so should increase your chances of being approved.
If you want to easily find out whether or not you may qualify for an unsecured personal loan of $20,000 with a 10-year repayment period, go ahead and get prequalified at Acorn Finance. You can check offers within 60 second or less with no impact on your credit score.

What is the lowest rate for a 10-year personal loan?

If you are looking for a 10-personal loan, you will want to make sure you can lock in the lowest interest rates possible for your credit score range. Like many things, personal loan interest rates fluctuate to reflect market conditions. The lowest possible interest rates at any given time can change monthly, weekly, or even daily. However, you do not usually see a dramatic up or downswing in interest rates that would change by several percentage points. The best we can do is to give you a glimpse into the current interest rates that lenders are advertising.
At Acorn Finance our lending partners can offer personal loans with APRs as low as 6.99%, depending on your credit score. Some lenders will offer a lower APR if you sign-up for auto-pay for your monthly loan payments. In addition to comparing interest rates, you should also compare any fees associated with the loan.

Which bank has the easiest personal loan approval for 10-year loans?

Depending on your situation, the easiest personal loan approvals may come from online lenders. There are many online lenders out there and they are used to working with people with all different types of credit history and various financial situations. If you have decent credit, you should not have too much trouble qualifying for a personal loan. Some online lenders may have less strict lending requirements. However, if you already have a relationship with a bank or credit union, the process may involve less exchange of information. In addition, they may be able to waive requirements such as proof of income if you get direct deposit in your account at the bank. If you are dead set on a personal loan with a 10-year repayment period, you should be realistic that this will not be the easiest thing to find. Shopping around on the internet can help you find lenders that offer 10-year loan terms. You should start by narrowing down your options. At Acorn Finance, our lending partners can offer loan terms up to 12 year. You may want to check offers to see what is available with our lending partners.

What can I get with a 10-year personal loan?

A 10-year personal loan can allow you to finance many home improvement projects or consolidate some high-interest credit card and personal debts. Depending on the amount, a 10-year personal loan could let you install a brand new kitchen complete with granite countertops, hardwood floors, updated appliances, and a fresh coat of paint. Depending on the amount you could even install custom cabinets and give your new kitchen a modern look.
Most lenders do not have spending restrictions, allowing you to spend the money however you need to. Borrowers often pursue personal loans because you can do or buy just about anything with them. They often have less strict requirements that secured loans but higher interest rates. Personal loans are often used for vacations, weddings, home improvement projects, car repairs, and more.

Is a 10-year personal loan worth it?

Whether or not a 10-year personal loan is worth it or not depends on your individual situation. You will have to do a cost-benefit analysis of your finances and see if you could be saving money by having one loan to consolidate several debts. Or, if you are looking at financing a home improvement project, you can add a 10-year personal loan into the options available to you as you begin to explore all the different ways you can finance your project. Whatever you intend to use the personal loan for, make sure you do your research.
Borrowers often go in search of the longest loan term available in effort to keep their monthly payment down. However, you should be cautious about this approach. A longer loan term usually means a higher total loan cost. Borrowers may be tricked when comparing offers. One offer may have a longer loan term and lower interest rate. As a result, the monthly payment is lower than an offer with a shorter term and higher rate. Without any thought, the borrower may assume the longer loan term is the better option. That is until they compare the total loan costs. Before deciding whether or not a 10-year personal loan is worth it or not, compare your options and focus on the numbers.

Closing Thoughts
If you are on the hunt for a competitive 10-year personal loan, you should start by checking offers at Acorn Finance. Acorn Finance has trustworthy lending partners that can offer APRs as low as 6.99% depending on your credit score. Individuals can discover simple and competitive payment options through Acorn Finance. At Acorn Finance, you can submit one application and receive loan offers in 60 seconds or less with no impact to your credit score. Once you have claimed the best offer and finalized the loan, you can receive funds quickly.

Discover competitive 10 year personal loan offers. . . apply online today!

Personal Loans By Year

Compare Rates From Top Lenders

Personal Loan Calculator

Are you a contractor?
Generate more revenue with Acorn Finance.

Offer customers the ability to finance their dreams with zero dealer fees.

Get Started

Popular Home Improvement Projects

Barn Financing Options

One home, endless possibilities


Personal Loan Information