Find a $18,000 personal loan
Image: 18000How (and where) to get a $18,000 personal loan
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Several lenders offer $18,000 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 $18,000 loans, along with a simple guide to applying for personal loans to help you in your shopping process.
Average monthly payments for a $18,000 unsecured loan by loan duration and credit score range
| Loan duration | Poor credit | Average credit | Good credit | Excellent credit |
|---|---|---|---|---|
| 1–12 months | $1,574.00 | $1,620.87 | $1,598.88 | $1,589.50 |
| 13–24 months | $879.80 | $865.57 | $843.38 | $827.48 |
| 25–36 months | $643.95 | $627.59 | $596.13 | $573.11 |
| 37–48 months | $538.69 | $513.64 | 488.50 | $467.05 |
The best $18,000 personal loans
Citibank
This lender offers competitive rates — if you’re an existing customer and have strong credit. Citibank doesn’t offer prequalification, so you’ll need to submit a formal application to get an idea of your loan terms.
PenFed Credit Union
PenFed Credit Union is worth considering if you have good credit and need a small personal loan. You don’t need to be a member to apply, but the credit union charges late fees and returned payment fees.
Best Egg
Best Egg offers competitive rates for those with good or excellent credit. There are no prepayment penalties on the loan, but you’ll have to pay a one-time origination fee. If approved, you may see the money quickly — Best Egg says about half of its customers receive the funds the next business day.
Wells Fargo
You won’t be charged an origination fee or prepayment penalty. And setting up autopay will qualify you for an interest rate discount. But you must already be a Wells Fargo customer to apply for a loan. And while Wells Fargo offers a rate-estimate calculator, it doesn’t provide the option to prequalify, so your only application option comes with a hard credit check.
Upgrade
Upgrade offers some flexible loan terms and amounts, and you’ll have the option to prequalify. The lender doesn’t charge prepayment penalties (which is good if you pay your loan off early), but it does charge an origination fee that will add to your costs.
How to get a $18,000 loan
Before searching for a $18,000 loan, it’s a good idea to check your credit scores and reports. Understanding your credit situation can help give you a sense of your ability to get a $18,000 loan and the kinds of loans that might be available to you.
After checking your credit, you can begin to shop around for a loan. It might be helpful to see what your bank or credit union has to offer, but it’s best to compare potential options from various lenders so you can find the best rates and terms for you.
If a lender offers prequalification, you can see the terms you might be offered without affecting your credit. Just keep in mind that you might need to provide personal information required to run a soft inquiry on your credit reports. And there’s no guarantee your estimated terms will be your final ones.
Once you’ve researched available loans, you can start to assess the best option for you. Making sure your lender will offer you a loan at your preferred amount is a necessity, but the lender might also have eligibility requirements and state availability restrictions that determine your ability to apply, including your intended use for the funds. You might also want to consider how fast the lender may send you your funds after approval.
Your potential interest rate, the length of the loan and any fees will affect the overall cost. We recommend using a loan calculator to determine how much you might end up paying over the life of the loan.
FAQs about $18,000 loans
The ease of getting a $18,000 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.
$18,000 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.