If I need a small $300 loan, what are my options? Read below to learn more about the types of $300 loans available to you. Where you live could be a determining factor.
$300 Personal Loans
A personal loan is similar to a cash advance but usually give you a longer time frame to repay the loan. They still have higher interest rates but some lenders will check your credit score and if you have good credit you may be able to get a low interest rate. Most personal loans for $300 will come with a fee around $20 per $100 borrowed. This is just a rule of thumb number. Usually a $300 loan is reasonably easy to come by and you should be able to get approved without too much trouble. It is all unique to your personal situation of course.
Should You Apply for a $300 Installment Loan or $300 Payday Loan?
If you need to borrow money, $300 payday loans are usually a bit easier to qualify for than a $300 installment loan but also tend to carry a bit higher interest rate and will likely be due on your next payday. The installment loan option could give you a bit more time and possibly a lower rate. This is all determined by the lenders so make sure to do you homework. Funds are usually sent direct deposit to your bank account.
How Much Interest Will I be Charged?
The fee on a $300 loan is likely to be anywhere from $10 - $100 for the money you borrow. Is this a good deal? That is certainly up to you to decide. And remember that you can shop around and find the best deal before committing to any personal or payday loans.
Things to Keep in Mind:
- Reputation of the Lender
- Interest Rate Being Charged
- Duration to Repay The Loan
- When the Money Will Be In Your Account
- Will The Lender Be Running a Credit Report
Reasons to borrow $300 that were not in your budget
Whether you decide a $300 installment loan or another type of short term loan, there are nearly endless possibilities that you can use the money for. It is not a large amount of money but if you are short that much then it is a big deal to your and that makes it a big deal, period. Here are some top reasons people need to borrow $300.
- Automobile Expenses - small fender bender, new tires, fixing air conditioning
- Home Repairs - water heaters, microwaves, plugged pipes, insect extermination
- Veterinarian Bills - dog needs to get fixed, cat is not eating
- Grocery Bill - family is coming into town and your fridge looks like Sahara Desert
Apply Here - $300 Personal Loans
What do you need the 300 loan for? This will determine the type of loan you should request.
- Signature Loans / Personal Loan - Funds on a $300 signature loan,which includes payday loans and installment loans, are unsecured. They can be used for anything you wish. It generally does not matter if you have good credit or bad credit, most financial institutions do not administer a typical credit check on loans of this size.
- Auto Loans - If you have a car or pickup, and it is paid off so you have the title in hand, you may consider a three hundred dollar title loan. The interest on these loans may be cheaper than personal loans because they are backed by the collateral of the vehicle.
- Home Equity Loan - Taking out a home equity loan for such a small amount is likely not worth your time and effort. However, if you plan on remodeling your home and are going to be need more money in the future, then this loan option makes a lot of sense. This is a better long term financing option but you will need a pretty good credit history to get the process started.
- Credit Cards - This a good option compared to the loans offered if the interest rate is lower. Having a credit card or credit card advance will give you plenty of time to repay balance and principal.
Example of a $300 Installment Loan
This is purely an example. No guarantees you will receive a loan offer similar to this one.
Loan Amount: $300
Loan Interest: 48%
Loan Duration: 4 Months
Monthly Payment: $83
Total Amount Paid: $331
Interest Paid: $31
How Long do I Have to Repay the Borrowed Sum?
All loan terms will be clearly disclosed in any loan contract you receive. A typical loan duration is from 30 days to 9 months. Take the time to read it carefully and make an informed decision. Review the annual percentage rate (APR), sum of the loan, duration of the loan in months, and amount of the monthly payments. Also be aware of any addition fees added to the loan that are not interest charged.
Cash King Co has a network of lenders and may be able to help you get approved in just minutes. If you are interested in a $300 installment loan, also known as a $300 signature loan, complete our application and you will know almost instantly if you have been approved.
Related: $100 Loan Fast
Cash King Co is not a lender. All terms are between you and the direct lender. Must be 18 to apply. Read all loan documents carefully before committing.
When You Need a $300 Loan Fast
Cash King Co
202 N 9th Street
Boise, ID 83702