Best short-term loans: Personal loans with no prepayment penalty
Short-term loans come with high interest rates. A personal loan with no repayment penalty can be a much more affordable option.
Living a joyful, fulfilling life is easier achieved when you make smart financial decisions that support who you want to be.
— Aylea Wilkins
Aylea Wilkins has worked at Bankrate since 2019. She currently edits articles on a variety of topics. Previously, she has edited Bankrate articles on insurance, personal loans, home equity loans and student loans.
Aylea has extensive editorial experience covering personal finance, business and marketing. Her career includes time as a copywriter for small businesses to improve their search engine optimization, freelance writing, website editing for small businesses and even an internship at Walt Disney World. Throughout her career, she has focused on helping readers find greater joy in their lives, often through making smart decisions on the road to financial freedom.
Outside of work, Aylea is extremely passionate about children's literature and literacy. She volunteers with reading organizations, keeps tabs on the latest in children's literature and reviews books on Goodreads and NetGalley. She can often be found planning another Disney vacation or working on the young adult novel she hopes to publish.
Student loans were a big part of how I could have college experiences that I wouldn't have otherwise, particularly a life-changing experience studying abroad in London for four months in my junior year. I used a mix of Pell grants, student loans, scholarships and jobs to pay for school, saving tens of thousands of dollars and helping me pay off my student loans within a year of graduation. I encourage students to look at all their resources and creative ways to achieve their goals in school and set themselves up for financial success.
Living a joyful, fulfilling life is easier achieved when you make smart financial decisions that support who you want to be.
— Aylea Wilkins
Short-term loans come with high interest rates. A personal loan with no repayment penalty can be a much more affordable option.
Compare SoFi vs LightStream to see which one is better for you.
Between unpredictable costs, lack of health insurance coverage for procedures, and the potential to need multiple cycles, IVF is cost-prohibitive. Around 10 percent of women in the United States have difficulty [...]
If you need a few thousand dollars to cover an emergency or expense, a $5,000 personal loan may be a good way to get what you need.
If you need a $10,000 loan, you will need to meet the requirements and find lenders that offer loans in that amount.
To get a $100,000 personal loan, you will need to meet the requirements and find a lender with that high of loan options.
Upstart and SoFi are both good lenders, but which one is right for you depends on your circumstances.
Most banks don’t offer small loans, so be careful when you find a lender that does.