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How (and where) to get a $600 personal loan

Written by: David Heiling

Updated:

3 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.

If unexpected expenses are putting pressure on your finances, a loan could provide some relief. 

But it’s important to know that small loans can come with expensive terms (and sometimes cost you more in interest than the amount you borrow).  Some of these loans can be called payday loans. To find the best option for your situation, compare loan terms and shop around. 

We’ll guide you through potential lending options and how to apply, as well as suggest alternatives to consider before you decide which small loan may be right for you.

The best $600 personal loans

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.

Oportun

Oportun might be worth exploring if you have bad credit (or no credit) and need a small loan (new customers may not qualify for large loans). Oportun offers prequalification so you can check your eligibility before applying. While you might qualify without having great credit, you’ll likely have to pay an interest rate on the higher end of Oportun’s rate range.

Navy Federal Credit Union

A Navy Federal Credit Union personal loan might make sense if you’re part of the military community. NFCU offers unsecured and secured personal loans, but you must become a member first.

How can I get a $600 loan fast?

Both payday advance apps and buy-now, pay-later apps can give you short-term financial flexibility to make purchases. These options are different from traditional payday loans.

Payday advance apps might be a good idea if you need money to cover bills, groceries or other essentials and it’s still a few days away from payday. Payday advance apps let you borrow money from your upcoming paycheck and will automatically debit your connected bank account when your paycheck arrives.

Some payday advance apps don’t charge interest and don’t check your credit. However, some do require a monthly subscription or charge a fee for immediate funding. Some of these apps ask for optional tips, potentially increasing the loan cost.

Buy now, pay later apps (BNPL) offer a short-term financing option, allowing you to make purchases with an initial payment and pay the balance over several short-term payments, often without interest. 

If you find yourself in a financial emergency and need access to funds quickly, a payday loan might be tempting. But keep in mind that payday loans typically come with extremely high fees that can translate to annual percentage rates (APRs) as high as 400%. 

Payday lenders usually offer loans of $500 or less and expect you to pay back the loan (and any fees) by your next payday. Some lenders advertise same-day funding, but when you get access to money varies by lender. 
It’s also important to note that payday loans, buy-now, pay-later apps and payday advance apps may come with fees that can add up. There’s the potential to get stuck in a continual cycle of borrowing or get hit with late fees if you’re unable to pay on time.

If you’re not sure these options are right for you and want to bring in more money on a consistent basis, consider a side gig — you might be able to earn money in a day.

Small loan alternatives

Depending on your situation, there are some small loan alternatives that you may also want to consider.

  • Payday alternative loans from credit unions: These are small, affordable loans provided by certain federal credit unions as an alternative to traditional payday loans. Check if a local credit union offers them.
  • Medical repayment plans/forgiveness: If you find yourself faced with unexpected medical bills, consider discussing repayment options with your hospital. Low-income or underinsured individuals may get access to financial assistance.
  • Charitable grants or utility payment plans: You may be eligible for an emergency assistance grant or loan based on your financial situation. Exploring your area’s offerings could be worthwhile to see what support is available.

FAQs about $600 loans

Can I get a $600 loan with bad credit?

Yes, getting a small loan is usually possible even if you have bad credit. Lenders willing to loan small amounts to individuals with poor credit scores typically charge higher interest rates because they perceive these loans as higher risk. Other options to consider include payday alternative loans, buy now, pay later apps and payday advance apps.

Will a $600 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.

Can I get a $600 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.

*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.