Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
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When you need $1,000 as soon as possible, an installment loan might be your best bet. These loans are costly, but most providers offer loans as soon as tomorrow.
OppLoans Installment Loans
|Product Name||OppLoans Installment Loans|
9 to 24 months
1 business day
|Costs||59%–199% APR, varies by state|
|Requirements||Direct deposit, meet minimum income requirements, live in eligible state|
Speedy Cash Short-term Loans
|Product Name||Speedy Cash Short-term Loans|
|Costs||Varies by state regulations.|
|Requirements||Must be 18+ years old (19+ in AL) and have valid ID, proof of steady income, an open checking account and working phone number.|
ACE Cash Express Short-term Loans
|Product Name||ACE Cash Express Short-term Loans|
Varies by state
As fast as same business day
|Costs||Varies depending upon the state where you reside.|
|Requirements||Steady source of income, checking or savings account, not currently in bankruptcy, ages 18+|
|Product Name||CashNetUSA Loan|
Varies by state
As fast as same business day
|Costs||Varies by state|
|Requirements||Regular source of income, bank account, US citizen or permanent resident, age of majority in your state|
How much your loan costs depends on the APR and the loan term.
Installment loans might work with bad credit borrowers, but they’re expensive. It’s common for rates to top 100%and usually you have between three and 12 months to repay an an installment loan. A shorter loan term might give you higher monthly repayments but it’ll help you save on interest.
Use our calculator below to figure out how much a $1,000 loan will cost you.
|Loan terms (in years)|
You can generally get an installment loan if you meet the following criteria:
Most installment loan providers don’t operate in all states due to regulations. However, you can often find an installment loan even if you have bad credit or rely on government benefits.
Yes. There are some lenders like PNC or Upstart that offer personal loan amounts as low as $1,000. However, these are more difficult to qualify for — you may not qualify if you have bad or fair credit. If you do have good credit, consider borrowing a larger personal loan and simply repaying what you won’t use. This will help lower the cost of borrowing significantly and prevent you from paying the excessive fees charged by short-term lenders.
No credit check loans are available, but you should consider if applying for a loan with no credit check is necessary. Most short-term lenders will consider you for a loan even if you have a few bad credit listings on your file.
Check the eligibility criteria listed for both bad credit and no credit check lenders and see which one best meets your needs.
Title loans are short-term loans backed by the title of your car. Since they require you to visit the lender in person, you can get your money in as fast as 30 minutes. You might not even need to have a job or checking account to qualify.
However, like other short-term loans, these are expensive. Expect to pay an APR of around 300%. You also risk losing your car if you can’t pay it back or getting trapped in a cycle of debt.
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.
While there is no definite way to make sure a lender approves your application, it could help your application to keep the following in mind:
It’s important that you have a fair idea of what your repayments will look like before you apply for your $1,500 loan. Once you know how much you have to repay, take into account your existing salary and expenses and then determine if you can afford to make the repayments. You can use a loan calculator to find out how much you might have to repay weekly, biweekly, or monthly.
When you look for a $1,000 loan, bear in mind that it can come with associated risks:
Check the websites of any providers you’re interested in to confirm they operate in your state of residence.
|24 months||Compare more|
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