A selection of 24 month personal loans for the cash you need

Find a personal loan where you have up to 2 years or more to pay back.

If life throws you a financial curveball, it’s comforting to know you can access resources to handle any situation. A personal loan can help in an emergency, debt consolidation or perhaps that family vacation, and gives you more time to pay it back than a short term or installment loan. You can get the money you need, often up to $35,000 or more, with a 24-month personal loan.

How does a 24-month personal loan work?

Personal loans are designed to help you with your finances when you need cash soon but would like to pay it back over a year or more. Traditional personal loans through a bank or other lender can be applied for online, but because they lend at higher amounts, may require more paperwork and have a longer turnaround time.

Installment loans can be another option when looking for a cash loan with longer terms than a short term loan, but shorter terms than a personal loan. Often installment loans will get you cash faster, and in higher amounts than a short term loan, but with a longer period to pay it back. Loan terms will vary based on the state you live in. You can usually apply online and have the cash you need deposited quickly.
How installment loans work

Compare installment loans

Check the websites of any providers you’re interested in to confirm they operate in your state of residence.

Rates last updated August 22nd, 2017
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time
OppLoans Installment Loans
Get a better installment loan repayment terms up to 36 months, depending on your state.
$4,000
9 to 36 months
1 business day
Slam Dunk Loans
Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.
$2,500
Varies by lender
As soon as next business day
NetCredit Installment Loan
Build a positive credit history with on-time payments through flexible repayment options that include credit card and money transfer.
$10,000
Varies upon state
1-3 business days
Cash Central Installment Loan
Pay monthly or biweekly over six to 24 months with lower APRs over your typical payday loan.
$5,000
6 to 24 months
Next Business Day

Compare up to 4 providers

What do you need to look for when comparing 24 month loans?

  • Fees and rates.
    Rates will vary based on whether you choose a personal loan or installment loan. Shopping around is the best way to ensure you end up with a loan with competitive rates. Check what the APR of the loan will be, if there are origination fees, late payment fees, or early repayment fees.
  • Repayment terms.
    Does the lender offer a long enough payment period for you? The repayment schedule should be within your income so you can comfortably afford to make the payments.
  • Approval period.
    Turnaround time will vary. Bank loan applications can be in-depth and often time consuming, whereas a short term or installment loan approval processes are quicker with the cash transferred to your account within a couple of days.

Benefits and drawbacks

Pros

  • Longer loan terms.
    Most two-year personal loans offer you a flexible repayment period and repayment options that suit your finances. You usually have the option to make weekly, biweekly or monthly repayments to fit your budget.
  • Flexible loan amount.
    A 24-month personal loan gives you access to a wide range of loan amounts, some up to $35,000 or more. Different lenders offer different loan amounts, but you can generally borrow anywhere from $2,500 to $35,000. It is advisable not to take out multiple loans in a row, as that can affect your credit as well as strain your budget, so be sure to apply for the amount you need.

Cons

  • Higher loan means more to repay.
    It can be easy to apply for the max loan amount offered, only to realize that later that the repayments are hard to make. Be sure that whatever loan you take out, you are able to make the payments within your income.

Things to be cautious of

  • Overspending.
    The temptation to borrow more than you need is always there. Remember that you will have to pay interest and other additional costs on your loan, so you should only borrow the amount you need and have a clear purpose for what you want to spend it on.
  • Missing repayments.
    Make sure that you can comfortably make your monthly repayments before you apply for a loan, as there are usually penalties for late payments.

Eligibility criteria

A 24-month personal loan can make life a lot easier when you find yourself in a tight financial spot. Please note that you will have to meet the following requirements:

  • You have to be at least 18 years old in most states
  • You must be a United States citizen or permanent resident
  • You must provide proof of income

The bottom line

Remember, it’s always important to compare your options when it comes to loans for any term length. Use the table above to help with your comparisons.

What type of loan are you looking for?

Fixed Term

Fixed Amount

7 days
30 days
2 months
3 months
5 months
6 months
9 months
12 months
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US Payday Loans Offers

Learn about our information service
Slam Dunk Loans

Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.

LendUp Payday Loans

LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

Check into Cash Payday Loan

With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

OppLoans Installment Loans

Get a better installment loan repayment terms up to 36 months, depending on your state.

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