Grace Enfield, Content Writer
@grace_enfield
The best place to get a small personal loan is Discover. Personal loans from Discover let you borrow as little as $2,500, have APRs of 6.99% - 24.99% (depending on your creditworthiness), and have repayment periods of 36, 48, 60, 72 or 84 months. Applicants generally receive a decision the same day they apply and can get the funds as soon as one business day after approval. You’ll need at least a 660 credit score to qualify, according to third-party sources.
Best Places to Get a Small Personal Loan
- Discover. Loans as small as $2,500. APRs of 6.99% - 24.99%. Repayment periods of 36, 48, 60, 72 or 84 months.
- Citibank. Loans as small as $2,000. APRs of 8.99% - 23.99%. Repayment periods of 12, 24, 36, 48 or 60 months.
- PNC. Loans as small as $1,000. APRs of 5.99% - 32.24%. Repayment periods of 12 - 60 months.
- TD Bank. Loans as small as $2,000. APRs of 8.99% - 21.99%. Repayment periods of 12 - 60 months.
- Avant. Loans as small as $2,000. APRs of 9.95% - 35.99%. Repayment periods of 24 - 60 months.
- Best Egg. Loans as small as $2,000. APRs of 8.99% - 35.99%. Repayment periods of Up to 60 months.
- LendingClub. Loans as small as $1,000. APRs of 8.05% - 35.89%. Repayment periods of 36 or 60 months.
- LendingPoint. Loans as small as $2,000. APRs of 7.99% - 35.99%. Repayment periods of 24 - 72 months.
- Prosper. Loans as small as $2,000. APRs of 6.99% - 35.99%. Repayment periods of 24 or 36 or 48 or 60 months.
To read more about the top-ranked offers, check out WalletHub’s complete picks for the best small personal loans. Then, you can estimate your potential rates with our free pre-qualification tool.
Other Places to Look for Small Personal Loans
Local credit unions are a good option if you’re looking for a loan below $1,000, as credit unions tend to be more willing to lend small amounts of money. Even people with bad credit may be able to get a small unsecured personal loan from a credit union.
You will need to be a member to qualify, but you should be able to join a credit union where you live for free. Alternatively, several large credit unions, such as Alliant, Connexus and PenFed, offer memberships to anyone in the U.S. who makes a small donation. This assumes the applicant doesn’t already qualify for a free membership.
Banks and online lenders may also offer small personal loans. However, some lenders offer minimum loan amounts of $3,000+, which may be too large of a loan for you.
People also ask
Did we answer your question?