Personal loans with the payment shown before you apply
A personal loan is a lump sum you repay in fixed monthly payments. Here’s how they work, what sets the APR and how fast the money can arrive.
- Amounts
- Personal loan amounts are set by each lender and depend on your credit, income and state.
- How APR is set
- By the lender, from your credit, income, existing debts, the amount and the term.
- Terms
- Fixed monthly payments over a set number of months. The lender sets the options.
- Time to fund
- Some lenders fund as soon as the next business day after you’re approved and sign.
- Credit checks
- Sending a FastLoan request doesn’t affect your score. Applying with a lender usually means a hard inquiry.
Loan availability, amounts, rates and terms vary by state and lender.
How personal loans work
Most personal loans are unsecured: you don’t put up your car or home as collateral. The lender looks at your credit and income, and if it approves you, it pays you the loan amount in one deposit. You repay it in equal monthly payments over a fixed number of months, so you know the payment and the end date from the start.
Some lenders deduct an origination fee from the amount you receive. The APR includes that fee, which is why comparing APRs, not just interest rates or monthly payments, is the fairest way to compare offers.
What sets your APR
- Your credit history and scores. Fewer missed payments and lower card balances usually mean a lower APR.
- Your income, and how steady it is.
- Your debt-to-income ratio: how much of your monthly income already goes to debt payments.
- The term. Longer terms lower the payment but usually cost more in total, and some lenders charge a higher APR for them.
- The amount and any fees. An origination fee raises the APR.
For context, the Federal Reserve reported an average 24-month personal loan rate of 11.90% at commercial banks for August 2026 (G.19, released October 7, 2026). That’s a bank average, not a rate FastLoan’s partners offer; your APR may be higher or lower.
Soft and hard credit checks
FastLoan doesn’t check your credit, so sending a request doesn’t affect your score. A lender that wants to show you an offer may run a soft check, which also doesn’t affect your score. If you apply, the lender will usually run a hard inquiry, which can lower your score a little for a while. Our guide to soft and hard credit checks explains how to compare offers with as few hard inquiries as possible.
How fast the money arrives
- Approval. The lender verifies your identity, income and bank account and makes a final offer.
- Signing. You accept the offer and e-sign the agreement. The funding clock starts here.
- Transfer. The lender sends the money, usually by ACH, which settles on business days only.
- Posting. Your bank makes the deposit available, usually when the transfer settles.
Some lenders fund as soon as the next business day after you’re approved and sign. Weekends and Federal Reserve holidays add days, and so do requests for extra documents. Read how fast you can get a loan for cutoff times and what slows funding down.
Example payments for $25,000
These examples use fixed APRs and no origination fee. They show how the APR and the number of payments change both the monthly payment and the total you repay.
Examples, not offers: $25,000 repaid in 24, 36 or 60 monthly payments at 9.9% to 24.9% APR, with no origination fee. Each cell shows the monthly payment and the total repaid.
24 monthly payments
- 9.9% APR
- $1,152.47 a month$27,659 total
- 14.9% APR
- $1,210.98 a month$29,064 total
- 19.9% APR
- $1,271.17 a month$30,508 total
- 24.9% APR
- $1,333.03 a month$31,993 total
36 monthly payments
- 9.9% APR
- $805.51 a month$28,998 total
- 14.9% APR
- $865.41 a month$31,155 total
- 19.9% APR
- $927.82 a month$33,402 total
- 24.9% APR
- $992.67 a month$35,736 total
60 monthly payments
- 9.9% APR
- $529.95 a month$31,797 total
- 14.9% APR
- $593.44 a month$35,606 total
- 19.9% APR
- $660.96 a month$39,658 total
- 24.9% APR
- $732.32 a month$43,939 total
Lenders set the actual APR, fees and terms. See example rates and terms for how we calculate these figures, or open the payment calculator to try your own.
Payments by amount
What people use personal loans for
- Paying off credit cards
- One fixed payment instead of several card balances, and a set end date. Worth it only if the APR is lower than your cards.
- Car or home repairs
- A lump sum for a repair that can’t wait, without using a home equity loan.
- Medical or dental bills
- Ask the provider about payment plans and financial assistance first; they may cost less.
- Moving costs
- Deposits, movers and the overlap between two rents.
- A large planned purchase
- Appliances or furniture, at a fixed APR you can compare with store financing.
- An expense this week
- If the money has to arrive fast, see how funding times work before you apply.
Before you sign
- Compare the APR and the total you’ll repay, not only the monthly payment.
- Check whether an origination fee comes out of the loan, and how much you’ll actually receive.
- Ask whether there’s a fee for paying early. Many lenders don’t charge one, but check the agreement.
- Make sure the payment fits your budget even in a tight month.
- If a loan might not be the right fit, see other ways to cover an emergency expense.
Send your request to lenders
Tell us what you need. We share your request with lenders, loan brokers and marketing partners in our network, who may contact you with offers.
- Time to fill in
- About a minute
- Effect on your credit
- Sending this form doesn’t affect your credit score. Lenders may run a soft check to show offers, and a hard inquiry if you apply.
- Who you’re dealing with
- FastLoan is a matching service, not a lender.
- Cost to use FastLoan
- Nothing. Lenders set their own rates and fees.