How much can you borrow? $500 to $5,000 compared
Every loan amount True Finance offers, side by side: the monthly payment at each term and credit tier, who typically qualifies, and when a smaller or larger request makes more sense. All figures are estimates at the rates lenders in our network commonly offer.
Monthly payment by loan amount and term
Estimated at 24.99% APR, the mid-point of the 5.99%–35.99% range in our network. Tap an amount for the full breakdown by credit tier.
| Loan amount | 12 months | 24 months | 36 months | Interest (24 mo) | Total repaid (24 mo) |
|---|---|---|---|---|---|
| $500 | $47.52 | $26.68 | $19.88 | $140.40 | $640.40 |
| $1,000 | $95.04 | $53.37 | $39.75 | $280.80 | $1,280.80 |
| $1,500 | $142.56 | $80.05 | $59.63 | $421.19 | $1,921.19 |
| $2,000 | $190.08 | $106.73 | $79.51 | $561.59 | $2,561.59 |
| $2,500 | $237.60 | $133.42 | $99.39 | $701.99 | $3,201.99 |
| $3,000 | $285.12 | $160.10 | $119.26 | $842.39 | $3,842.39 |
| $5,000 | $475.20 | $266.83 | $198.77 | $1,403.98 | $6,403.98 |
$500 loans: the fastest to get, the easiest to repay
A $500 personal loan is the smallest amount most lenders in our network offer as an installment loan. It covers an overdue utility bill, a prescription, a car battery or a gap before payday without the balloon repayment of a payday loan.
| Credit tier | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $169.45 | $85.78 | $43.96 |
| Fair credit (620–669)17.99% APR | $171.69 | $87.76 | $45.84 |
| Average (580–619)24.99% APR | $173.66 | $89.51 | $47.52 |
| Bad credit (<580)35.99% APR | $176.76 | $92.30 | $50.23 |
Common uses
- Overdue utility or phone bill
- Prescription or urgent copay
- Car battery, tire or tow
- Gap of a few days before payday
Who qualifies
Most $500 requests are approved on income and banking history alone; a score under 580 is rarely a barrier at this level.
Tip
Consider a cash advance app if you only need $100–$300 for a few days: no interest, though membership and instant-transfer fees apply.
$1,000 loans: the most requested amount in our network
One thousand dollars is the sweet spot for car repairs, medical copays, a security deposit or catching up on rent. Repaid over 12 months at an average rate, it costs about $3 a day.
| Credit tier | 6 mo | 12 mo | 18 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $171.56 | $87.91 | $60.05 |
| Fair credit (620–669)17.99% APR | $175.52 | $91.68 | $63.80 |
| Average (580–619)24.99% APR | $179.02 | $95.04 | $67.19 |
| Bad credit (<580)35.99% APR | $184.59 | $100.46 | $72.70 |
Common uses
- Car repair before payday
- Medical or dental copay
- Security deposit or moving van
- Catching up on rent
Who qualifies
Lenders typically want income of at least $800/month and an active checking account. Fair and bad credit are both commonly approved at this amount.
Tip
If you are declined, a $500 request or a secured loan against savings often gets through where $1,000 did not.
$1,500 loans: enough for a real repair without a long commitment
A $1,500 installment loan is the default amount in our calculator because it fits the most common emergency: a transmission or HVAC repair, a vet bill, or two months of a bill you fell behind on.
| Credit tier | 12 mo | 18 mo | 24 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $131.87 | $90.08 | $69.21 |
| Fair credit (620–669)17.99% APR | $137.51 | $95.70 | $74.88 |
| Average (580–619)24.99% APR | $142.56 | $100.78 | $80.05 |
| Bad credit (<580)35.99% APR | $150.69 | $109.06 | $88.56 |
Common uses
- Major car or appliance repair
- Vet emergency
- Two months of overdue bills
- Travel for a family emergency
Who qualifies
Approval odds at $1,500 depend mostly on debt-to-income ratio. Lenders like to see total monthly debt payments under about 45% of income.
Tip
Choosing 18 months instead of 12 lowers the payment by roughly a third while adding only a few dollars a month in interest.
$2,000 loans: where debt consolidation starts to make sense
At $2,000 you can roll two or three high-interest credit card balances into one fixed payment, or cover a dental procedure or moving costs in a single request.
| Credit tier | 12 mo | 24 mo | 36 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $175.82 | $92.28 | $64.52 |
| Fair credit (620–669)17.99% APR | $183.35 | $99.84 | $72.29 |
| Average (580–619)24.99% APR | $190.08 | $106.73 | $79.51 |
| Bad credit (<580)35.99% APR | $200.91 | $118.08 | $91.60 |
Common uses
- Consolidate 2–3 credit cards
- Dental crown, root canal or braces deposit
- Moving and first month's rent
- Replace a washer, fridge or laptop
Who qualifies
Most lenders require a credit score of at least 550–580 for $2,000. Fair credit (620+) usually unlocks the lower half of the APR range.
Tip
Our representative example uses exactly this amount: $2,000 at 24.99% APR over 24 months = 24 × $106.74.
$2,500 loans: the upper limit for many bad-credit approvals
Two and a half thousand dollars is often the maximum a first-time borrower with a score under 580 will be offered. It handles a larger home repair, a used-car down payment or a medical bill insurance declined.
| Credit tier | 12 mo | 24 mo | 36 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $219.78 | $115.35 | $80.66 |
| Fair credit (620–669)17.99% APR | $229.19 | $124.80 | $90.37 |
| Average (580–619)24.99% APR | $237.60 | $133.42 | $99.39 |
| Bad credit (<580)35.99% APR | $251.14 | $147.61 | $114.50 |
Common uses
- Home repair (plumbing, roof patch, water heater)
- Used-car down payment
- Medical bill not covered by insurance
- Consolidate high-interest debt
Who qualifies
Expect a hard credit inquiry once you accept an offer. Adding a cosigner or collateral can move you from the 30%+ tier to the low 20s.
Tip
If you are offered less than $2,500, ask the lender whether a shorter term or a cosigner changes the amount before accepting.
$3,000 loans: planned expenses with a fixed monthly payment
A $3,000 personal loan suits planned, one-time costs: a wedding deposit, a semester of tuition gap, a large tax bill or serious debt consolidation. Most borrowers choose 24 to 36 months.
| Credit tier | 18 mo | 24 mo | 36 mo |
|---|---|---|---|
| Good credit (670+)9.99% APR | $180.16 | $138.42 | $96.79 |
| Fair credit (620–669)17.99% APR | $191.40 | $149.76 | $108.44 |
| Average (580–619)24.99% APR | $201.56 | $160.10 | $119.26 |
| Bad credit (<580)35.99% APR | $218.11 | $177.13 | $137.39 |
Common uses
- Tax bill or IRS payment plan alternative
- Wedding, funeral or family event
- Tuition or certification gap
- Larger debt consolidation
Who qualifies
Lenders look for stable income (usually $1,500+/month) and a manageable DTI. Fair-to-good credit gets the best rates here; bad credit approvals exist but often at 30%+ APR.
Tip
A 36-month term at 24.99% APR costs roughly $1,300 in interest versus about $840 over 24 months. Pick the shortest term you can comfortably afford.
$5,000 loans: the maximum through True Finance
Five thousand dollars is the largest request we accept. It is the amount most people use for full debt consolidation, a major home repair, dental implants or a medical procedure with a large deductible.
| Credit tier | 24 mo | 36 mo |
|---|---|---|
| Good credit (670+)9.99% APR | $230.70 | $161.31 |
| Fair credit (620–669)17.99% APR | $249.60 | $180.74 |
| Average (580–619)24.99% APR | $266.83 | $198.77 |
| Bad credit (<580)35.99% APR | $295.21 | $228.99 |
Common uses
- Consolidate $5,000 of card debt into one payment
- Roof, HVAC or major plumbing repair
- Dental implants or surgery deductible
- Relocation for a new job
Who qualifies
Approval at $5,000 usually requires fair or better credit (620+), income around $2,000/month or more, and no recent delinquencies. Bad-credit borrowers are more often offered $2,500–$3,500.
Tip
If $5,000 is declined, our network can still show offers for a smaller amount, and you can request more once payments are reported.
What sets the amount you are offered
You choose the amount you request; the lender decides the amount you are approved for. Five things drive that decision.
- Income and its stabilityRegular deposits from a job, self-employment or benefits. Higher and steadier income supports larger amounts.
- Debt-to-income ratioYour existing monthly debt payments divided by income. Most lenders want the new payment to keep DTI under roughly 45%.
- Credit historyScore, recent late payments and inquiries. Bad credit narrows the amount and raises the APR rather than blocking approval outright.
- State lawSome states cap loan amounts, rates or terms for small-dollar loans. See loans by state.
- Banking historyOverdrafts and returned payments in the last 90 days matter more than an old collection account.
Borrow the right amount
Every extra dollar carries interest. Add a small buffer for fees, not a cushion for "just in case."
A 36-month term lowers the payment but can double the interest versus 12 months. Pick the shortest you can afford.
Some lenders deduct 1–8% from the funds. Ask, and compare APRs, which already include the fee.
Most network lenders allow early repayment with no penalty, which cuts total interest.
Questions about loan amounts
Straight answers to the questions borrowers ask most before choosing an amount.
Can I get a $500 loan with bad credit?
Yes, in most cases. At $500 lenders in our network weigh income and banking history far more than your credit score, and many approve scores under 580. Expect an APR near the top of the range and a 3–12 month term.
What is the monthly payment on a $1,000 loan?
At 24.99% APR, a $1,000 loan costs about $95.04 a month over 12 months or $53.37 over 24 months. Good credit at 9.99% APR lowers the 12-month payment to about $87.91.
What is the monthly payment on a $2,000 loan?
About $106.73 a month over 24 months at 24.99% APR (total repayment $2,561.59). Over 36 months the payment drops to $79.51 but total interest rises.
Can I get a $5,000 loan with a 580 credit score?
It is possible but not typical. Most lenders offering $5,000 want a score of 620 or higher and income around $2,000 a month. With a 580 score you are more likely to be offered $2,500–$3,500 first, with the option to borrow more after a few on-time payments are reported.
How fast can I get a $1,000 loan?
Decisions usually arrive within minutes of submitting your request. Once you e-sign, most lenders deposit funds the next business day; requests finished before early afternoon on a weekday have the best chance of next-day money.
Do I need a job to borrow $500?
You need regular income, not necessarily a job. Self-employment income, Social Security, SSDI, pension and other recurring benefits are accepted by many lenders in our network; typical minimums are around $800 a month.
Is a $5,000 loan hard to get?
Harder than smaller amounts, because the lender's risk is higher. Strong factors are a credit score of 620+, low debt-to-income ratio, stable income and no recent late payments. A cosigner or collateral can help if you fall short on one of them.
Should I borrow more than I need?
No. Interest is charged on every dollar borrowed, and larger amounts can mean a hard credit pull at a higher tier. Request the amount that solves the problem; you can request a second loan later if needed.
Pick your amount and see real offers
Request $500 to $5,000 in about two minutes. Free to check, no obligation, and no impact to your credit score.