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

Information verified correct on May 23rd, 2017

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.

Comparisons of personal loans

Rates last updated May 23rd, 2017
Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
Maximum Loan Amount Term of Loan Turnaround Time
Prosper Personal Loan
Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
$35,000 3 or 5 years 1-3 business days Go to site More
Lending Club Personal Loan
Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.
$40,000 Flexible Terms Varies Go to site More
Upstart Personal Loans
This newer service looks beyond your credit score to match you with accredited investors for low-rate personal loans.
$50,000 36 months 1-2 business days Go to site More
NetCredit Personal Loan
You could borrow up to $10,000 and get an interest rate personalized to your credit score
$10,000 Varies upon State 1 business day Go to site More
OneMain Financial Personal Loans
Get funded quickly with a term loan that works for your circumstances — even with bad or no credit.
$25,000 3 years to 5 years Up to 3 days More
Avant — Personal Loan
Check your rate — without affecting your credit score — before applying for this unsecured personal loan.
$35,000 24–60 months 1–2 business days More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know

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 May 23rd, 2017
Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
Maximum Loan Amount Term of Loan Turnaround Time
OppLoans Installment Loans
Get a better personal loan of up to $5,000 with 9- to 24-month repayment terms, depending on your state.
$5,000 9 to 24 months 1 business day Go to site More
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 business day Go to site More
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 Overnight More
Check City Installment Loan
Even if you have poor credit, apply with this short term loan specialist offering quick disbursement and referral rewards.
$2,500 Varies Next Day Go to site More
Blue Trust Loans Installment Loans
These loans act as an alternative to payday loans, and you don’t have to make payments in one large lump sum.
$1,250 6 months Quick approval More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know

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 tables 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
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com privacy policy.

US Personal Loans Offers

Learn about our information service
Lending Club Personal Loan

Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.

Prosper Personal Loan

Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.

Upstart Personal Loans

This newer service looks beyond your credit score to match you with accredited investors for low-rate personal loans.

PersonalLoans.com

An online loan matching service that connects you with lenders for peer-to-peer, personal and bank loans for a variety of purposes.

feedback