In the market for a short term loan but don’t want to pay high interest? Here’s how to find low interest short term loan.
There is no telling when you may need some extra money, and if you’re not eligible for a loan from a bank or other traditional lender, you can consider a short term loan. One major drawback of short term loans is the relatively high costs, but not all lenders charge the same fees and rates.
The interest you are charged depends on the state you reside in and the lender you are applying with. While all short term loans are going to have a higher Annual Percentage Rate (APR) and fees than you will find with standard personal loans, you can still find short term loans with lower interest than the maximum standard rate. This guide will show you how.

Check into Cash Mobile Loans
Check into Cash allows you to directly apply for a payday loan on your cell and have your cash when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies by state
- Turnaround Time: 1–2 business days
- Total Costs: Varies depending on the amount and your state of residency.
- Must be 18+
- No security needed
- Confidential and secure!
A selection of short term loans you can apply for
Check the websites of any providers you’re interested in to confirm they operate in your state of residence.
Where can you find low interest short term loans?
Short term lenders that charge lower interest than what is usually charged can be found in any state where payday loans are legal. If you aren’t sure whether payday loans are legal in your state, or what fee and interest regulations apply, you can check here. There are a few types of lenders to consider if you’re looking for a more affordable short term loan option:
- Lenders that charge lower than the state maximums. Once you’ve taken a look at the state regulations, compare lenders and find ones that charges below this maximum. Some states have higher maximums than others and finding a lender that falls below these won’t be too difficult.
- Lenders with a tiered rating system. Some lenders do not have blanket interest rates for all borrowers, instead classifying borrowers on a tiered system. The classification can be according to a borrower’s credit score, due to a record of repaying previous loans on time, or even based on completing educational courses and earning points (as with LendUp).
- Installment Loans. If you’re looking for lower, ongoing repayments you may want to consider an installment loan. These loans let you pay back over a longer period rather than in a single sum as with short term loans. While the APR can still be high, the repayments are spread over terms of between two months and five years.
- Auto Title Loans. If you have a car, you can hand over its title to a lender for an auto title loan. You will continue to have full use of the vehicle and will be given back the title when the loan is repaid in full. As this is essentially a secured loan you can often find more competitive rates.
How you can compare your low interest options
When you’re comparing low interest rate short term loans, consider following:
- Interest. This is obviously your key consideration. Remember to check the state regulations before you apply, and compare what different lenders are charging for residents of your state.
- Fees. Most states have caps on the fees lenders can charge you, but others will not. Check for upfront and ongoing fees to get an idea of what you might have to pay.
- Processing time. Not all short term lenders can have your money to you in the same amount of time. If you apply online you can have your money sent straight to your account when you’re approved, usually in a few hours or on the next business day. You may also have the option of picking the cash up in-store if the lender has a branch network, and if you apply in-store you can wait and pick up your money in less than an hour.
Find out about same day short term loans
Things to consider before you apply
Make sure you go through the terms and conditions before accepting the contract so you have a clear understanding of the fees and charges. If you think you may face problems in repaying the loan, reconsider taking it in the first place.
Instant Short Term Loans
Frequently asked questions about low interest short term loans
Are payday loans available in my state?

Compare short term loans in your state
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