- Home
- Loan amounts
- $5,000 loan
$5,000 Loan
Our maximum loan. At this size the product you qualify for is worth several thousand dollars, which makes checking your rate the most valuable five minutes here.
$5,000 is our maximum, and at this size the rate you qualify for matters more than anything else on this page. The difference between a personal loan and an installment loan on $5,000 over two years runs to several thousand dollars, so the first step is finding out which one you qualify for rather than assuming.
| Key loan information | Details |
|---|---|
| Amount | $5,000 |
| Products available | Personal, installment or title loan |
| Personal loan payment | About $279.54 a month over 24 months at 29.99% APR |
| Personal loan cost of credit | About $1,709 over 24 months |
| Installment payment | About $484.83 a month over 24 months at 99% APR |
| Installment cost of credit | About $6,636 over 24 months |
| Title loan | Available if you own a vehicle outright |
| Prepayment penalty | None |
| Funding | Next business day to 2 business days |
Your options for $5,000
| Option | Term | Payment | Cost of credit | APR |
|---|---|---|---|---|
| Installment loan | 6 months | $1,089.79/mo | $1,538.76 | 99% |
| Installment loan | 12 months | $672.09/mo | $3,065.13 | 99% |
| Installment loan | 24 months | $484.83/mo | $6,635.93 | 99% |
| Personal loan | 24 months | $279.54/mo | $1,708.92 | 29.99% |
Check the personal loan first
On $5,000 over 24 months, a personal loan at 29.99% costs about $1,709 in interest. An installment loan at 99% costs about $6,636. That is close to a $5,000 difference on the same $5,000 borrowed, which makes checking your rate the single highest-value five minutes in this process. It uses a soft inquiry and costs nothing.
The secured option
If you own a vehicle outright, a title loan at 60% to 150% APR can price better than an unsecured installment loan at this size. The trade-off is real: default can cost you the vehicle. Read that page before choosing it.
What $5,000 typically covers
Major car repair or a replacement vehicle contribution, dental or medical work, a home repair such as a roof or HVAC unit, a moving and deposit package, or consolidating several higher-rate balances. Consolidation is the one case where the loan can pay for itself, provided the new APR is lower than what you pay now.
Eligibility
- 18 or older and resident in a state where we lend
- Income sufficient to support the payment, verified from wages, benefits or self-employment
- An active checking account in your name, open at least 30 days
- Government-issued ID and a Social Security number or ITIN
- Fair credit or better is recommended to reach the lower APR bands
Other amounts
$200 loan · $300 loan · $500 loan · $1,000 loan · $2,000 loan
Frequently asked questions
What is the monthly payment on a $5,000 loan?
About $279.54 a month over 24 months at 29.99% APR on a personal loan, or about $484.83 a month over 24 months at 99% APR on an installment loan.
Can I borrow $5,000 with bad credit?
It is possible as an installment loan or, if you own a vehicle outright, a title loan. Approval depends on whether your income comfortably supports the payment, and the APR will be considerably higher than a personal loan.
What credit score do I need for a $5,000 personal loan?
Fair credit, roughly 580 and above, is recommended to reach our personal loan rates of 17.99% to 35.99%. There is no single hard cut-off because income and affordability also count.
Is $5,000 the most I can borrow?
Yes. Our maximum is $5,000 across all products, and your state and income may support less than that.
Borrow $200 to $5,000 for any purpose
Apply in about five minutes and get a decision in minutes. Checking your rate won't affect your FICO® score.