Online Personal Loans from $200 to $5,000

What is an online personal loan?

A personal loan is a fixed amount of money you borrow and pay back over a set period, usually in equal monthly installments. Many online personal loans are unsecured, meaning you don’t put up a car or other property as collateral. Instead, the lender looks at things like your income, credit history, and bank account.

“Online” simply means you apply on the web instead of at a branch. Through our site, you complete one application, and participating lenders review your information.

How much you can borrow

You can request $200 to $5,000. The amount a lender offers, if any, may be lower than what you request. It usually depends on:

• your income and how often you’re paid,
• your credit history and existing debts,
• the state you live in, and
• the lender’s own limits.

Repayment terms offered through our network: 3 to 60 months.

Who can apply

Each lender sets its own requirements. Lenders commonly ask that you:

• are at least 18 years old (or the age of majority in your state),
• live in a state where the lender offers loans,
• have a regular source of income,
• have an active checking account in your name, and
• can provide a valid email address, phone number, and Social Security number.

Specific requirements for our lending network: 18 years of age or older; US citizen or permanent resident; Active checking account in your name; Regular source of income.

What it costs

Personal loans charge interest, and some lenders also charge fees. The best way to compare offers is the APR (annual percentage rate), which reflects the interest rate plus certain fees, and the total amount you’ll repay.

• APR range in our network: 5.99%–35.99%
• Fees: None from us — lenders in our network set their own origination, prepayment, and late fees. Review the full fee schedule in any loan offer before accepting.
• Available states: Availability varies by lender. Offers may not be available in all states.

Your rate depends on the lender and your profile. See rates and fees for how costs work and a payment estimator.

Common reasons people apply

• Unexpected car repairs or medical bills
• Covering rent or utilities during a short income gap
• Combining a few smaller, higher-cost debts into one payment
• An emergency expense that’s larger than an earned wage advance can cover

If the expense is small and your employer offers earned wage access, that’s usually cheaper. Learn more in our Payactiv loan guide.

Compared with other options

Still weighing earned wage access? Compare providers in our Payactiv alternatives guide.

Pros and cons

Pros

• No employer participation required
• Larger amounts than most cash advance apps
• Fixed payments spread over time
• On-time payments may help your credit if the lender reports them

Cons

• Interest and fees usually make it more expensive than earned wage access
• Approval isn’t guaranteed
• A credit check may be required
• Missed payments can lead to fees, collections, and credit damage

Before you borrow

1. Check the payment fits your budget every month of the term, not just the first.
2. Compare the APR and total repayment, not just the monthly payment.
3. Look for fees such as origination, late, or returned-payment fees.
4. Ask about prepayment. Some lenders let you pay early without a penalty.
5. Be cautious of upfront fees. Be wary of anyone who asks you to pay before you receive a loan or promises guaranteed approval.