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How (and where) to get a $450 personal loan

Written by: David Heiling

Updated:

4 min read
This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

A small loan may offer a temporary solution if unexpected expenses hit your budget. 

But it’s important to know that these loans may have expensive terms — even potentially costing you more in interest than the amount borrowed. Some of these loans can be called payday loans. Make sure to shop around and compare loan terms to make sure you’re getting the best loan available to you.

We’ll recommend some lenders to consider and provide alternatives to think about before committing to a small loan.

The best $450 personal loans

Affirm

The Affirm app is worth considering if you want to make online or in-store purchases and pay for them with four (potentially interest-free) installments. But you might need a down payment, and if you spread out your payments over a longer period, you may face interest.

Digital Federal Credit Union

Digital Federal Credit Union can be a good option if you’re a member (or membership eligible) and would like to explore multiple loan options. This is particularly true if you can lock in the automatic payment and relationship discount. DCU doesn’t offer prequalification, so checking your loan eligibility will mean a hard credit check.

Possible Finance

Possible Finance touts its loans as an alternative to payday loans. Even if you have bad credit, you may get approved. But these small-dollar loans aren’t available in most states, and where they are available, borrowing will cost you 10%–25% of the loan amount.

How can I get a $450 loan fast?

There are ways to get fast funding for small loans, but be sure to consider the loan terms, interest rates and other fees associated with the loan before moving forward. Many traditional personal loan lenders don’t offer small loans less than $1,000, but some online lenders, credit unions, loan apps and payday lenders do.

Here are some popular types of small loans you may encounter.

Small online loans

Small online loans may provide fast funding and accept people with lower credit scores, but they may also come with very high maximum interest rates that can harm financial wellness.

You can apply to prequalify with some online lenders with a soft credit inquiry, which allows you to compare rates and terms without affecting your credit scores. If you choose to move forward with a loan option, however, lenders will often perform a hard credit inquiry for final approval.

Buy-now, pay-later

Buy now, pay later apps (BNPL) can help you make purchases and spread the cost across several interest-free payments, often without a credit check. 

With BNPL plans, you may be able to sign up and make an eligible purchase on the same day. These apps may be a good option if you need to make an urgent purchase but need a little more time to pay it off. Be aware that some BNPL apps charge late fees if you’re unable to pay on time. 

And remember, you’ll need to have a purchase that qualifies for a buy-now, pay-later loan to use this option. 

Payday advance apps

Payday advance apps may let you tap into a portion of your upcoming paycheck, often without a credit check. This money can help cover everyday expenses like utilities and groceries until payday.

Many payday advance apps verify regular deposits into your bank account before offering you access to funds. If you haven’t used a payday advance app before, verifying income can take a few days and might not be the best option for same-day needs. 

Many payday advance apps are interest-free but be aware there may be fees involved. Some payday advance apps require a monthly membership fee, and there may be an additional fee for quick access to money. Some payday advance apps also suggest giving a tip, which can increase the total cost of the loan. 

Payday loans


If you have a financial emergency, a payday loan may give you fast access to funds for short-term needs without affecting your credit scores. But you may end up paying a hefty price for the convenience — payday loans often come with extremely high fees that equate to annual percentage rates (APRs) of up to 400%.

Payday lenders typically offer small loans of $500 or less and require you to repay the loan by your next payday. And although some payday lenders advertise same-day funding, when you actually get access to cash varies by lender.

Small loan alternatives

  • Medical repayment plans/forgiveness: If you’re facing unexpected medical bills, you may be able to set up a payment plan with the hospital that gave you care. Underinsured or low-income patients may also have access to alternative repayment plans or other financial assistance. 
  • Charitable grants or utility payment plans: Depending on your circumstances, you may be eligible for an emergency assistance grant or loan. Your city or state may have hardship grants available to those in need. Consider exploring offerings in your area to see what kind of financial support is available. 
  • Payday alternative loans from credit unions: These small, affordable loans offered by some federal credit unions were established as a more affordable alternative to expensive payday loans. 

FAQs about $450 loans

Can I get an $450 loan without a job?

You may be able to get a small loan without a job, but lenders may still require proof of income. If you have regular income unrelated to a job, you can often include that in your application. Another option to consider is a secured loan. Secured loans are attached to an asset, like a house or a car, which allows the lender to take control of that asset if you’re unable to pay back your loan.

What is the total cost of a $450 loan?

The cost of a loan depends on a few factors, including the interest rate, loan term and any fees assessed by the lender. Consider using a loan calculator to calculate monthly payments and total interest paid over the life of the loan.

Will a $450 loan affect my credit?

Many financial institutions that offer traditional personal loans for small amounts require a hard pull of your credit before approving you for a loan, which can temporarily drop your credit score. However, a personal loan can build credit, especially if your lender reports to the credit bureaus and you make your payments on time. Other lenders like buy now pay later, payday lenders, or payday apps may not require a hard credit check.

*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.