Personal loans in New York, NY
U.S. Census Bureau, ACS 2020–2024 5-year estimates for New York, NY.
The median household in New York earns $80,483 a year, 6% below the New York median of $85,974. About 18% of residents live below the federal poverty line, and 67.2% of households rent their home.
New York law that applies in New York
| Rate cap | A licensed lender may charge more than the 16% civil usury rate allowed to unlicensed lenders, but loans above 25% a year are criminal usury. |
|---|---|
| License required | A license is needed to be in the business of making personal, family, household or investment loans of $25,000 or less (or business loans of $50,000 or less) at a rate above what an unlicensed lender may charge. |
| Loan sizes covered | Consumer loans of $25,000 or less; business and commercial loans of $50,000 or less. |
Full rules with statute citations: Personal Loans in New York. Cities in New York cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in New York
Lenders that serve New York typically ask for the following:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in New York
What New York borrowers use it for
the fastest options online
Holiday expensesgifts and travel without maxing a card
Medical billspay a doctor, dentist or pharmacy bill now
Car repairskeep getting to work while the shop fixes it
Loans for your situation
How to get a personal loan in New York
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in New York
430 FDIC-insured bank branches from 87 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| JPMorgan Chase Bank, National Association | 72 | 60 E 42nd St, New York 10165 |
| TD Bank, National Association | 50 | 2521 Broadway, New York 10025 |
| Bank of America, National Association | 49 | 550 5th Ave, New York 10036 |
| Citibank, National Association | 37 | 1748 Broadway, New York 10019 |
| Wells Fargo Bank, National Association | 29 | 545 Madison Ave, New York 10022 |
| Citizens Bank, National Association | 16 | 250 W 57th St, New York 10107 |
| Apple Bank | 13 | 10 Downing St, New York 10014 |
| Santander Bank, N.A. | 11 | 420 Lexington Ave, New York 10170 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in New York
46 credit-union locations from 33 credit unions.
| Credit union | Location |
|---|---|
| New York University | 726 Broadway Ste 110, New York 10003 |
| Neighborhood Trust | 1112 Saint Nicholas Ave, New York 10032 |
| Pentagon | 131 W 33Rd St, New York 10001 |
| Municipal | 86 Chambers St, New York 10007 |
| Fourleaf | 111 W 26Th St, New York 10001 |
| United Nations | 2 United Nations Plz Fl 3, New York 10017 |
| Justice | 290 Broadway Fl 10, New York 10007 |
| Self Reliance Financial | 108 2Nd Ave, New York 10003 |
| Actors | 165 W 46Th St, New York 10036 |
| I Am | 498 Fashion Ave Fl 2, New York 10018 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Kings County · Queens County · New York County · Bronx County · Richmond County ·
Frequently asked questions
Can I get a personal loan with bad credit in New York?
Possibly. Lenders in our network consider applicants with fair and bad credit across New York, including New York. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in New York, NY?
Licensed lenders may exceed 16% civil cap; 25% criminal usury applies.
How fast can I get a personal loan in New York?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Can I get an emergency loan with bad credit in New York?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. New York residents can see if they qualify in about 3 minutes.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. New York residents can see their options in about 3 minutes.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to New York borrowers who qualify.
How do installment loans work in New York?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. New York residents can see installment loan offers with our free 3-minute form.
Do I need to visit a store in New York?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.