Compare before you borrow
Understand personal loans before you request one
Explore costs, credit requirements and repayment choices for personal installment loans. Find guidance for bad or limited credit, emergency expenses and debt consolidation, then check the resources for your state.
5MinutesLoan is a loan-matching website, not a lender. Educational guides and a submitted request do not guarantee approval, a particular APR or funding.
What is a personal loan?
A personal installment loan provides an agreed amount that you repay in scheduled installments. The payment schedule, interest, fees and term are set by the lender. Some personal loans are unsecured; others require collateral. An unsecured loan still creates a debt, and missed payments can have consequences.
People may compare personal loans for a necessary repair, a large expense or consolidating existing balances. The purpose does not make the loan affordable. Start with the amount you need, consider non-loan options, and compare the total repayment with your existing obligations.
Online access describes how you find or request a loan, not its price or eligibility standard. A bank, credit union, direct online lender and matching service can play different roles. Read how installment repayment works.
Source: CFPB: personal installment loans.
Compare more than the advertised payment
APR and fees
APR expresses interest and certain finance charges as an annual rate. Compare the same amount and repayment term, and check late fees separately.
Cash you receive
A fee deducted before funding reduces your usable proceeds. A $5,000 principal with a $250 deducted fee leaves $4,750. This is an illustration, not an offer.
Payment and term
A longer term can lower the payment while raising total interest. Check the full schedule against your income and essential bills, not just the first payment.
Terms and lender
Identify the lender, confirm any collateral or automatic-payment requirement, and read the final disclosures. A matching website does not make the lending decision.
Learn how APR, interest and fees differ, or read our Rates & Fees disclosures. Sources: CFPB on APR and installment loan fees.
Start with your question
Practical guides to your next decision
Borrowing basics
Personal loan requirements
Understand personal loan eligibility, documents, affordability and the difference between a matching request, lender approval and funding.
Read the guideCredit and eligibility
Borrowing with bad credit
Explore personal loans with bad credit, what lenders may review, how to compare the full cost and alternatives to guaranteed-approval claims.
Read the guideCosts and comparisons
Planning a $5,000 loan
Plan a $5,000 personal loan by checking net proceeds, fees, monthly payments, eligibility and alternatives. Illustrations are not lender offers.
Read the guideBorrowing basics
Same day and emergency loans
Looking for same day loans? Learn what decides how fast an emergency loan is funded, how to compare costs and the alternatives to check first.
Read the guideCosts and comparisons
Debt consolidation decisions
Compare a debt consolidation loan with your existing payments, fees and payoff dates. Learn how consolidation differs from debt settlement.
Read the guideShort-term borrowing
Alternatives to payday loans
Compare bill extensions, credit-union payday alternative loans, assistance and other small-dollar options before taking a high-cost short-term loan.
Read the guide
Also compare fair credit and a thin credit file, understand soft versus hard credit checks, and read about payday loan costs and risks. These are educational topics, not a statement that our partners offer every product.
Eligibility and timing depend on the provider
Lenders may review identity, income, credit history, existing obligations and other information. Requirements vary. Having the right documents can help a review proceed, but it does not guarantee a decision or funding deadline.
Prepare for a personal loan request- 1
Read the request and consent terms
Understand what information is collected, who may receive it and what communications you authorize. Reading a guide and submitting a request are different actions.
- 2
A provider reviews the request
A match or referral does not establish approval. A provider may ask for documents, run credit checks or decline the request. Confirm the inquiry type before consenting.
- 3
Review an actual offer
Check the lender’s identity, net proceeds, APR, fees, payment dates, term and total repayment. You can decide that an offer does not fit your needs.
- 4
Confirm funding with the lender
After approval and acceptance, verification and transfer processing can still affect timing. Bank availability, weekends and cutoffs may matter.
50 states and Washington, DC
Personal loan resources for your state
State guides connect you with regulator resources, questions to ask a provider and historical comparisons of specific lending scenarios. They do not confirm that a partner serves your state or that a product is currently available to you.
The map uses NCLC’s September 2025 research for a $2,000 unsecured installment loan over 24 months. The full comparison separately identifies the dates and terms of other scenarios. A research figure is not your offered APR or a universal current legal maximum.
Compare research scenarios and sourcesNCLC $2,000 / 24-month scenario · September 2025
Licensed non-bank, unsecured installment loans. Historical research, not offered rates or current limits for every loan. Sources and scope.
- Up to 30% APR
- Above 30% to 36% APR
- Above 36% APR
- Unconscionability rule
- No numeric cap identified
Cards and filters show NCLC's $2,000, 24-month installment-loan scenario as of September 2025. These are historical research figures, not available rates or a guarantee of service in your state. Read the sources and scope.
Showing all 51 states, A to Z
- Alabama$2,000 / 24 months: Unconscionability
- Alaska$2,000 / 24 months: 31% APR
- Arizona$2,000 / 24 months: 41% APR
- Arkansas$2,000 / 24 months: 17% APR
- California$2,000 / 24 months: 25% APR
- Colorado$2,000 / 24 months: 31% APR
- Connecticut$2,000 / 24 months: 36% APR
- Delaware$2,000 / 24 months: No numeric cap
- District of Columbia$2,000 / 24 months: 24% APR
- Florida$2,000 / 24 months: 37% APR
- Georgia$2,000 / 24 months: 32% APR
- Hawaii$2,000 / 24 months: 31% APR
- Idaho$2,000 / 24 months: Unconscionability
- Illinois$2,000 / 24 months: 36% APR
- Indiana$2,000 / 24 months: 40% APR
- Iowa$2,000 / 24 months: 36% APR
- Kansas$2,000 / 24 months: 38% APR
- Kentucky$2,000 / 24 months: 42% APR
- Louisiana$2,000 / 24 months: 38% APR
- Maine$2,000 / 24 months: 30% APR
- Maryland$2,000 / 24 months: 30% APR
- Massachusetts$2,000 / 24 months: 24% APR
- Michigan$2,000 / 24 months: 30% APR
- Minnesota$2,000 / 24 months: 33% APR
- Mississippi$2,000 / 24 months: 59% APR
- Missouri$2,000 / 24 months: No numeric cap
- Montana$2,000 / 24 months: 36% APR
- Nebraska$2,000 / 24 months: 30% APR
- Nevada$2,000 / 24 months: 40% APR
- New Hampshire$2,000 / 24 months: 36% APR
- New Jersey$2,000 / 24 months: 30% APR
- New Mexico$2,000 / 24 months: 36% APR
- New York$2,000 / 24 months: 25% APR
- North Carolina$2,000 / 24 months: 35% APR
- North Dakota$2,000 / 24 months: 36% APR
- Ohio$2,000 / 24 months: 31% APR
- Oklahoma$2,000 / 24 months: 56% APR
- Oregon$2,000 / 24 months: 36% APR
- Pennsylvania$2,000 / 24 months: 24% APR
- Rhode Island$2,000 / 24 months: 24% APR
- South Carolina$2,000 / 24 months: Unconscionability
- South Dakota$2,000 / 24 months: 36% APR
- Tennessee$2,000 / 24 months: 49% APR
- Texas$2,000 / 24 months: 37% APR
- Utah$2,000 / 24 months: Unconscionability
- Vermont$2,000 / 24 months: 21% APR
- Virginia$2,000 / 24 months: 50% APR
- Washington$2,000 / 24 months: 29% APR
- West Virginia$2,000 / 24 months: 33% APR
- Wisconsin$2,000 / 24 months: Unconscionability
- Wyoming$2,000 / 24 months: 31% APR
Personal loan questions
Can I get a personal loan with bad credit or limited credit history?
A credit label alone cannot establish eligibility. Lenders may consider your credit report, income, debts, requested amount and other information. Compare the actual costs and requirements; a higher-cost offer is not automatically affordable. No approval is guaranteed here.
Does checking this website or reading a guide affect my credit score?
Reading these pages does not itself request a loan or authorize a credit inquiry. A request submitted through a separate form can involve different consent terms. Ask the receiving provider whether and when it makes a soft or hard credit inquiry before proceeding.
Is a personal installment loan the same as a payday loan?
No. Personal installment loans are repaid through scheduled payments over a term. A typical payday loan has a short term and a payment due near the next payday. Labels can vary, so read the payment schedule, APR, fees and collateral terms of the actual product.
Can I receive funds the same day?
Some providers may advertise fast funding, but timing depends on approval, verification, the lender’s transfer process, cutoffs and your bank. A quick form or a partner connection is not a funding guarantee. Do not commit to a bill-payment date until the lender confirms when funds will be available.
Do the state guides show the APR I will be offered?
No. The comparison data describes historical research scenarios for particular licensed non-bank installment loans. Your product, provider, amount, term and applicable rules may differ. Use the linked state regulator to verify current requirements and use the lender’s own disclosures to assess an offer.
Prepared by the 5MinutesLoan editorial team. Updated ; the research dates in state comparisons remain separate. General education, not individualized financial or legal advice.
Considering a loan request?
Read Rates & Fees and our Privacy Policy first. A request may be shared with lenders or other partners. No approval, rate or funding time is guaranteed.