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How long does it take to get a $5,000 loan?

Most online lenders who offer a $5000 payday loan approve their loans within 24 hours. That is a bit quick when compared to 3-4 weeks for home loan processing. Lenders check for those people with solid credit history. That helps them approve bad credit personal loans for $5000 fast.

How long do you have to repay a $5,000 loan?

People who borrow $5,000 through a personal loan usually pay back the loan within two to three years. But, what kind of monthly payment would someone be looking at for a $5,000 personal loan. Depending on your credit score, your monthly payments may vary.

What are the interest rates for a $5,000 loan?

For example, someone with a credit score of 760 or higher might be able to qualify for a $5,000 personal loan with an interest rate of 6%. If the loan term is set at 36 months, this person would have a monthly payment around $153 and they would pay $475.95 of interest over 36 months.

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