Key takeaways
- At 24.99% APR over 12 months, $1,000 costs about $95 a month.
- Lenders typically need ID, income, a checking account, and a credit review.
- Shorter terms cost less in total interest.
Where to borrow $1,000
- Online installment lenders, which you can reach through our request form
- Credit unions, often with lower rates for members
- Banks, usually for borrowers with good credit
What a $1,000 loan costs
| APR | 6 months | 12 months | 24 months |
|---|---|---|---|
| 9.99% | $171.56/mo | $87.91/mo | $46.14/mo |
| 17.99% | $175.52/mo | $91.68/mo | $49.92/mo |
| 24.99% | $179.02/mo | $95.04/mo | $53.37/mo |
| 35.99% | $184.59/mo | $100.46/mo | $59.04/mo |
Figures are illustrative, with no origination fee assumed.
What you'll need
- Government ID and Social Security number
- Proof of income such as pay stubs, bank statements, or a benefits letter
- A checking account in your name
- Contact details
How fast you can get it
Many online lenders fund by the next business day after you sign. Signing early in the day on a business day usually helps.