Credit Score
Min.Down Payment
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620 - 700
0% - 5%
580 - 640
0% -3.5%


How to Get a Personal Loan with Bad Credit

How to Get a Personal Loan with Bad Credit

Securing a personal loan with bad credit can seem impossible, but with these tips, you will learn how to get a loan and improve your credit score.

READ MORE 31/05/2022
What is Debt-to-Income Ratio

What is Debt-to-Income Ratio

Debt-to-income ratio is a measure of your monthly income against your monthly debt payments. Here is how it can affect your personal loan….

READ MORE 25/05/2022
Personal Loan May 2022: Factors Affecting Interest Rates

Personal Loan May 2022: Factors Affecting Interest Rates

May 2022 is the best time to lock in a low interest rate. To secure a better personal loan interest rate, understand the factors that are affecting your interest rate.

READ MORE 19/05/2022
Why Should You Use A Personal Loan For Home Improvement?

Why Should You Use A Personal Loan For Home Improvement?

Need funds for home improvement? Learn why a personal loan is your best go-to option to raise money quickly and at the least cost.

READ MORE 11/05/2022
  • Would a personal loan be available for investing?

    You can do that, but maybe not for the best. Borrowing money on a personal loan is already incredibly risky in its own right. It takes a long time to get to the level of skilled investors who take loans out on personal terms. Sometimes even these people don’t succeed.

  • Could I receive a personal loan quickly?

    Occasionally lenders allow you to apply by a certain cut off time, and your application may be approved the next business day instant. This may delay the process a few days if extra verification is needed or if you are required to visit a branch location. Usually, the lender will let you know the turnaround time upfront.

  • For my personal loan application, what do I need?

    It's much easier than you'd think to apply for a personal loan. The applications usually do not require much information about you and require just a couple of minutes to complete. Typically, loan applications ask for your name, address, phone number, AND basic information about your credit history, your income, and your financial history.

  • What is the cost of online personal loans?

    Your loan’s cost is determined by three primary factors:

    • Interest rate. To borrow money from the online lender, they charge you interest. It is typically between 5% and 36% of the loan amount. No lender can charge more than a 36% APR.
    • Fees. Fees for this type of loan can range from 1% to 5%. Prepayment penalties may also apply to personal loans that are paid off early. For late payments and unsuccessful payments, lenders are allowed to charge interest as well.
    • Loan term. This is the duration of your repayment of a loan. The lending terms of most lenders range from 3 to 7 years. You pay more interest if you have a longer-term loan. However, you’ll pay much more each month with short-term loans.
    You can depict the interest rate and fees you owe as a percentage of your annual percentage rate (APR). In other words, APR lets you know how much you'll have to pay every year until your loan is repaid. The amount does not include late fees, nonsufficient funds fees (NSF), or prepayment penalties.

  • Are private student loans worth applying for to fund your education

    When you choose to attend college, you know that the cost will be exorbitantly high. You have to find ways to pay for the costs, such as scholarships, grants and loans. If you’ve got the maximum in grants and don’t qualify for scholarships, you may still not have enough. If this is the case for you, you may want to look at private student loans.

    Private student loans differ from federal student loans, as financial institutions and private lenders finance these loans. They also use their credit score and creditworthiness to determine if you are eligible for a loan. On top of that, the repayment terms are less than ideal, and a co-signer may be necessary.

    Think of private student loans like personal loans. They are there to close the gaps of school costs federal loans do not.

  • Private student loan qualifications

    Eligibility of a private student loan will depend on your creditworthiness and that of your co-signer (if applicable). Each lender has a set of eligibility requirements, including credit score and minimum income. You may also be asked if you are a citizen of the U.S. or a permanent resident. The lender may also require that you attend an approved school on their list.

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