Introduction
Looking for secured loan lenders? The lender you pick matters. Some give the best rates if your credit is good, while others work with lower scores but might charge more in fees.
What you use as collateral—a car, savings, or home equity—also affects your options.
Not every lender is the same. Some focus on auto loans, some on home equity loans, and others offer a mix.
If you don’t compare lenders, you could end up paying more than you need to.
This guide breaks down some of the best secured loan lenders in 2025 and what to look for before applying.
Key Takeaways
- Secured loan lenders provide loans that require collateral, allowing for lower interest rates and higher loan amounts.
- Choosing the right lender depends on factors such as interest rates, loan terms, collateral type, and borrower eligibility.
- Some lenders specialize in secured loans for borrowers with bad credit, while others require strong credit profiles.
- The type of collateral accepted by lenders varies, with common options including vehicles, savings accounts, and home equity.
- Understanding lender requirements and comparing options can help borrowers find the most competitive loan terms.
Best Secured Loan Lenders in 2025 – Quick Comparison
Here’s a side-by-side comparison of the top secured loan providers to help you quickly evaluate your options.
Lender | Best For | Loan Amount | APR Range | Collateral Type | Minimum Credit Score |
OneMain Financial | Bad Credit Borrowers | $1,500 – $20,000 | 18.00% – 35.99% | Vehicle title | No minimum |
Upgrade | Low APR Loans | $1,000 – $50,000 | 8.49% – 35.99% | Personal assets, vehicles | 560 |
Navy Federal Credit Union | Military Members | $250 – $100,000 | 2.05%+ | Savings accounts, CDs | None (membership required) |
LightStream | Large Loan Amounts | $5,000 – $100,000 | 6.99% – 24.99% | Various assets | 660+ |
Wells Fargo | Best for Bank Customers | $3,000 – $100,000 | 5.99% – 22.99% | Savings accounts, CDs | None for existing customers |
Top Secured Loan Lenders: Detailed Reviews
Each lender has different eligibility criteria, collateral requirements, and loan features. Below is a breakdown of who should apply, key loan details, and why each lender stands out.
OneMain Financial – Best for Bad Credit Borrowers
OneMain Financial is ideal for borrowers with low credit scores who need quick approval.
Instead of relying heavily on credit scores, the lender accepts vehicle titles as collateral for secured loans.
- Loan amounts: $1,500 – $20,000
- APR range: 18.00% – 35.99%
- Collateral accepted: Vehicle title
- Minimum credit score: No minimum
Pros:
- No strict credit score requirement, making it accessible to bad credit borrowers
- Fast approval process with same-day funding in some cases
- Physical branches available for in-person support
Cons:
- Higher interest rates compared to banks and credit unions
- Loan amounts capped at $20,000, which may not be enough for large expenses
Upgrade – Best for Low APR Loans
Upgrade provides lower APRs compared to many secured loan lenders, making it a great option for those with fair credit looking for competitive rates.
- Loan amounts: $1,000 – $50,000
- APR range: 8.49% – 35.99%
- Collateral accepted: Personal assets, vehicles
- Minimum credit score: 560
Pros:
- Competitive APRs for borrowers with moderate credit scores
- Allows a variety of collateral types, increasing approval flexibility
- Fully online application with quick funding
Cons:
- Borrowers with credit scores below 560 may struggle to qualify
- High APRs for lower-credit applicants depending on collateral value
Navy Federal Credit Union – Best for Military Members
Navy Federal Credit Union offers some of the lowest secured loan interest rates available, but only military members and their families can apply.
- Loan amounts: $250 – $100,000
- APR range: Starting at 2.05%
- Collateral accepted: Savings accounts, CDs
- Minimum credit score: None (membership required)
Pros:
- One of the lowest starting APRs in the market
- No strict credit score requirements—approval is based on membership and financial standing
- Wide loan amount options, from small emergency loans to large secured loans
Cons:
- Only available to Navy Federal members
- Limited availability for non-military borrowers
LightStream – Best for Large Loan Amounts
LightStream offers some of the highest loan limits among secured loan providers, making it ideal for borrowers who need large sums of money at competitive rates.
- Loan amounts: $5,000 – $100,000
- APR range: 6.99% – 24.99%
- Collateral accepted: Various assets
- Minimum credit score: 660+
Pros:
- High borrowing limits up to $100,000
- Lower APRs for well-qualified borrowers
- No prepayment penalties
Cons:
- Requires a strong credit score (660+) for approval
- Approval process may take longer than online-only lenders
Wells Fargo – Best for Bank Customers
Wells Fargo provides secured loans using savings accounts or certificates of deposit (CDs) as collateral, making it an ideal option for those who already bank with them.
- Loan amounts: $3,000 – $100,000
- APR range: 5.99% – 22.99%
- Collateral accepted: Savings accounts, CDs
- Minimum credit score: None for existing customers
Pros:
- Competitive APRs for secured loans
- Higher loan limits than many other secured loan providers
- Existing Wells Fargo customers may qualify without a credit check
Cons:
- Only available to Wells Fargo customers
- May not offer the lowest APRs compared to credit unions
How to Compare Secured Loan Lenders
When evaluating secured loan lenders, consider these key factors to ensure you’re choosing the right provider for your financial needs.
1. Interest Rates & APR (Annual Percentage Rate)
- Lower APR = Lower Cost – The best secured loan lenders offer competitive interest rates that can save you thousands in interest.
- Check if rates are fixed or variable – Fixed rates remain constant, while variable rates fluctuate.
- APR includes more than just the interest – It also factors in lender fees.
2. Loan Amount & Borrowing Limits
- Some lenders offer small secured loans (e.g., $1,000 – $5,000) for emergencies.
- Others provide high-limit secured loans (e.g., $50,000 – $100,000) for home renovations or business needs.
- Choose a lender based on how much you actually need and what collateral is required.
3. Collateral Requirements
- Each lender has different collateral options.
- Common collateral types include:
- Vehicle title loans – Using your car as collateral.
- Savings-secured loans – Backed by a savings account or CD.
- Home equity loans – Using your property as security.
- Make sure you understand what happens if you default—the lender may seize the asset.
4. Credit Score & Eligibility Criteria
- Bad credit borrowers should look for lenders with low credit score requirements (e.g., OneMain Financial, Upgrade).
- Higher credit scores qualify for lower APRs and better terms.
- Some lenders approve loans without checking credit, focusing more on collateral value.
5. Fees & Additional Costs
- Origination fees – Charged upfront to process the loan.
- Late payment penalties – Applied if you miss a payment.
- Prepayment penalties – Some lenders charge fees for paying off the loan early.
6. Customer Service & Lender Reputation
- Check online reviews, customer complaints, and lender transparency.
- Look for lenders with good customer support, fast funding, and clear loan terms.
- Consider whether the lender has physical branches or if it’s online-only.
How to Improve Your Approval Odds
Even though secured loans are easier to qualify for than unsecured loans, some applicants still get denied. Here’s how to increase your chances of getting approved at the best rates.
1. Choose the Right Collateral
- Higher-value collateral can improve approval chances and lower your APR.
- If possible, use a low-risk asset (e.g., savings account) rather than a depreciating asset (e.g., a car).
2. Improve Your Credit Score Before Applying
- Pay down debts to reduce your debt-to-income ratio.
- Check for errors on your credit report and dispute inaccuracies.
- Make sure all existing loans and credit cards are current with no late payments.
3. Apply with a Co-Signer If Needed
- Some lenders allow co-signers, which can help if your credit score is too low to qualify on your own.
- A co-signer should have good credit and stable income to boost approval chances.
4. Compare Multiple Lenders Before Applying
- Don’t just go with the first lender you find—check multiple options for the best rate.
- Use prequalification tools to see offers without affecting your credit score.
5. Avoid Applying for Multiple Loans at Once
- Too many hard credit inquiries in a short time can hurt your credit score.
- Instead, research lenders in advance, compare rates, and only apply when ready.
Frequently Asked Questions (FAQs) About Secured Loan Lenders
Which lender is the easiest to get a secured loan from?
OneMain Financial is known for approving borrowers with bad credit by focusing on collateral value rather than credit scores. Navy Federal Credit Union also has flexible approval criteria for military members.
What credit score do I need for a secured loan?
Most lenders require at least 600, but some accept lower scores if you provide valuable collateral. Navy Federal and OneMain Financial have no strict credit score requirements.
Do secured loans affect my credit?
Yes. Timely payments can boost your credit, while missed payments can damage it and lead to collateral repossession.
How much can I borrow with a secured loan?
Loan amounts range from $500 to $100,000, depending on lender policies and the collateral’s value. Banks usually lend 80-100% of your deposit balance if using a savings-secured loan.
Can I get a secured loan with bad credit?
Yes, secured loans are designed for borrowers with poor credit because collateral reduces lender risk. However, expect higher interest rates and stricter terms.
Is paying off a secured loan early a bad idea?
It’s usually beneficial to save on interest, but check for prepayment penalties that some lenders may charge.
Final Thoughts: Choosing the Right Secured Loan Lender
Not every lender works the same way. Some offer great rates for good credit, while others approve lower scores but might cost more.
Before signing anything, check collateral requirements, interest rates, and repayment terms.
A car, savings, or home equity can help you qualify, but only if you’re sure you can pay it back—otherwise, you could lose your asset.
Take your time, compare lenders, and pick the one that actually works for you.
For those new to secured loans, check out our detailed guide on secured loans for a deeper breakdown.
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