Best Short Term Personal Loans

SuperMoney's list of the best short-term personal loans is based on the qualitative recommendations of our community members and the quantitative recommendations of our ranking algorithms. We focus on lenders that offer short term installment loans and competitive rates.

There isn't a fixed definition of "short-term," but it usually includes unsecured personal loans for small amounts with terms that are shorter than 12 months. Short-term loans provide a fast source of cash that can be used for practically anything. However, their interest rates and fees are often very expensive. Lenders that offer small short terms sometimes require weekly or bi-weekly payments. Many don't charge a prepayment fee if you choose to pay the loan off early.

Short-term loans can be a lifesaver if you are dealing with a financial emergency. However, they are not always the best option available. Consider the following advantages and disadvantages before you make a choice.

Yes, one of the advantages of short-term personal loans is that they are geared toward people with less-than-perfect credit. However, the interest rates available for borrowers with bad credit are expensive, so compare several short term loans for poor credit to make sure there isn't a better deal available.

It all depends on your financial circumstances and the eligibility requirements of the lenders available in your area. The APRs of the lenders in our list of best short-term personal loans range from 160% to 160%, but these are just ranges. In most cases, you don't know what rate you will get until you apply. This is the reason you should check at least three lenders (more is better) before choosing a lender. SuperMoney's loan offer engine allows you to compare leading lenders without hurting your credit.

The table below shows the ranges for the key terms to consider when comparing personal loans for hardscaping projects.

The lowest APRs of 160% are only available to high-income borrowers with excellent credit. Compare at least three lenders from the list above to find the best loan offer available for your credit profile.

Short-term personal loans are available from a wide selection of lenders. These include credit unions, online personal lenders, and payday lenders. Payday lenders are by far the most expensive choice and the source of credit that is most likely to push borrowers into a debt spiral because of the option of paying a fee to roll over or renew the loan.

Before you go down the payday loan, find out what rates and terms you qualify for with the lenders on the list above.