Best Egg personal loans
Min. credit score
Not all lenders offer $1,000 loans, but there are a handful of options for all credit types — even if you have no credit score at all. We compared over 120 personal loan providers and connection services to help you find the right $1,000 loan for your needs.
These lenders offer personal loans as low as $1,000. Compare credit requirements, APRs and our star rating before clicking Go to site to check your rate.
|Provider||Min credit score||APR||Finder rating|
|Upstart||300||5.20% to 35.99%||★★★★★|
|Upgrade||620||8.49% to 35.99%||★★★★★|
|Achieve||620||7.99% to 29.99%||★★★★★|
|LendingClub||600||8.05% to 36%||★★★★★|
|Mariner Finance||Not stated||18.99% to 35.99%||★★★★★|
|Credible||580||4.60% to 35.99%||★★★★★|
|Fiona||550||5.99% to 35.99%||★★★★★|
|LoansUnder36||350||5.99% to 35.99%||★★★★★|
The typical cost of a personal loan is 6% to 36% APR — which includes the interest and fees you’ll pay on the loan over one year. However, most lenders have a minimum term of two years.
If you repay the loan over two years, that works out to a monthly payment of about $44 to $59 and a total cost of $64 to $417 in interest. However, lenders typically charge higher rates on small loan amounts, even if you have excellent credit. So you likely won’t be eligible for the lowest rate available if you borrow $1,000.
While most lenders don’t offer terms shorter than two years on a personal loan, most also allow you to make extra payments at no cost. Paying off your loan early will increase the monthly cost but can significantly reduce the total cost. Consider paying more than required when you can.
Some lenders also charge an origination fee, which is included in the APR and can reach as high as 5% or even 10%.
This means the lender may add as much as $50 or $100 to your loan balance when you take out the loan or subtract it from the funds you receive. If your lender charges an origination fee, ask how it works so you can decide whether you need to borrow more to receive $1,000 in funds.
Use our calculator below to determine how much a $1,000 loan will cost.
|Loan terms (in years)|
orCompare $1,000 loans now
Most online lenders can fund your loan within a business day or two. Lenders tend to process smaller loan amounts the fastest and likely won’t require any extra documentation to triple-check your ability to repay.
If you use a connection service to find a lender, your turnaround time may vary depending on the type of lender you choose. Banks and credit unions can take a few weeks to fund a loan if you’re a new client — but it may only take a day or two if you already have a relationship with the lender.
It often takes longer to get a loan if you don’t have a full-time job — including self-employed borrowers, part-time workers and anyone relying on income from something other than employment. That’s because verifying your ability to repay the loan can take longer. But since $1,000 is on the small end, it likely won’t take as long to get your funds as it would for, say, a $50,000 loan.
Requirements vary by lender, but typically you must meet the following requirements to qualify for a $1,000 loan:
While there’s no definite way to make sure a lender approves your application, it could help to keep the following in mind:
Consider these alternatives before you apply — especially if you have a credit score below 670:
How you compare your options largely depends on whether you’re applying for a payday loan or a standard $1,000 loan. Below, we’ve broken down what you need to know.
Visit our guide to personal loans to learn more about how they work.
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