Personal loans through Bear Loans Online

What a personal installment loan is

Most Bear Loans online requests end up matched with installment lenders. You receive a lump sum and repay it in equal payments, usually every two weeks or every month, until the balance is zero. Because every payment includes both interest and principal, you know on day one exactly when the loan ends and how much it will cost.

Lenders in our network commonly offer amounts from about $500 to $5,000, with terms from a few months up to around two years. What you're offered depends on your income, your state, and the lender.

Good reasons to use one

• A necessary repair to a car you need for work
• Medical or dental bills that can't wait
• Moving costs or a security deposit
• Replacing an essential appliance
• Combining a few small high-cost balances into one payment, if the new APR is lower

Term length changes the total cost

A longer term lowers the payment but raises total interest. Here's the same $2,000 at 29.99% APR over different terms:

Illustration only; figures rounded to the cent. Your actual rate and terms are set by the lender.

Pick the shortest term whose payment you can comfortably make in your tightest month. Try different combinations in the loan calculator.

Fees to look for

Origination fee: some lenders take a percentage from the loan before depositing it, so you receive less than you borrow. Late fee: charged when a payment is missed. Returned-payment fee: charged if an automatic payment bounces. Prepayment penalty: less common, but confirm there isn't one before you sign.

Personal loan or something else?

If your credit is fair to good, a bank or credit union may offer a lower rate, and it's worth checking. If you need only a small amount for a few weeks, an employer pay advance could cost less. Our alternatives page compares these routes.