Check your Approval Odds for a $1,400 loan
Image: 1400Where to get a $1,400 loan
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Several lenders offer $1,400 loans, but the right option for you depends on your financial situation.
If you qualify, a personal loan can come with competitive interest rates and minimal or no fees. But finding the right fit depends on several factors, including your credit profile.
We’ve selected our favorite lenders that offer $1,400 loans, along with a simple guide to applying for personal loans to help you in your shopping process.
Monthly payments for a $1,400 personal loan
| Loan duration | Average monthly payments ($1,400 loan) | |||
|---|---|---|---|---|
| Poor credit | Average credit | Good credit | Excellent credit | |
| 1–12 months | $216.56 | $194.80 | $161.45 | $132.00 |
| 13–24 months | $147.28 | $135.21 | $119.36 | $76.33 |
| 25–36 months | $70.60 | $62.18 | $58.92 | $53.57 |
| 37–48 months | $71.89 | $62.70 | $52.49 | $40.63 |
Average monthly loan payments are based on aggregate TransUnion credit report data from Credit Karma members with active personal loans as of December 2022
The best $1,400 personal loans
Alliant Credit Union
Alliant Credit Union might be a solid choice if you’d like a personal loan with flexible repayment terms and the potential for a same-day loan. (Depending on your bank, there may be a wait before you can access your cash.) But you must meet certain membership criteria to join this credit union and apply for a loan.
NetCredit
NetCredit might make sense if you have bad credit and would like a small amount as an emergency loan to cover an unexpected expense. But you may have to pay a high interest rate and late fees for missed payments, depending on where you live.
Afterpay
Afterpay can be a good choice if you want to make a buy-now, pay-later purchase with no interest. You’ll be expected to make four payments over six weeks to pay off your purchase. But if you make a late payment, you might be charged a fee (up to 25% of the loan amount). Afterpay will conduct a soft credit check when you apply, which won’t affect your credit scores.
U.S. Bank
U.S. Bank offers unsecured personal loans, and you’ll typically find out whether your loan is approved quickly. U.S. Bank doesn’t charge any origination fees or prepayment penalties. To find the best options, you may want to become a U.S. bank customer before applying for a personal loan.
Kashable
Kashable is worth exploring if you need to borrow money and your state and employer are eligible (you can check through the site). But Kashable says that only those that are part of the premium plan may have APRs as low as 0%.
How to get a $1,400 loan
Getting a $1,400 loan starts with taking stock of your financial situation. Checking your credit can give you a sense of the kind of terms you might receive on a loan, as well as help set expectations for the shopping process.
When you’re ready to apply for a personal loan, you’ll first want to narrow your search based on eligibility requirements. Make sure lenders offer the $1,400 loan you’re looking for, but you’ll want to consider other factors as well.
For instance, not every lender works in every state, and some might not allow you to use your loan funds for your intended purpose.
Once you have a list of possible lenders, it’s a good idea to see if they offer prequalification, which allows you to see your potential rates and terms without triggering a hard credit inquiry. While prequalification doesn’t involve submitting a formal application, you should expect to provide personal information such as your income.
Keep in mind that prequalification is not a guarantee of approval or exact terms. You’ll still need to apply formally, which usually involves a hard credit check and have a temporary impact on your credit.
The best available lender might not be the one that listed the lowest interest rate during prequalification. Other fees, such as an origination fee or prepayment penalty, could affect your total cost, so make sure to consider them when determining the most affordable loan.
We also recommend using a loan calculator to determine the total cost of a potential loan.
FAQs about $1,400 loans
With emergency loans you can potentially get funds transferred to your bank account on the same day you’re approved, but the exact timing depends on the lender and your bank. If you need fast funding, it’s best to contact lenders directly to get a clear idea of how (and how quickly) they might send your funds. Keep in mind that speed can come at the cost of high interest rates and fees.
The ease of getting a $1,400 loan depends on your credit and a lender’s specific approval requirements. Borrowers with higher credit scores are more likely to be approved for a broader range of loans and with better terms. But certain lenders market to people whose credit is on the lower end of the spectrum, which takes some guesswork out of the application process. Those lenders likely charge higher interest rates and fees to applicants with bad credit. So when shopping for loans, look at a lender’s full range of rates and fees, not just their lowest advertised terms, and use prequalification to get an idea of what those terms might be for you.
$1,400 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don’t have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind. It’s a good idea to apply to prequalify with various lenders so you can shop around and compare potential offers without a hard credit inquiry that can temporarily hurt your credit scores.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.