What is a personal loan?
A personal loan is an unsecured installment loan for almost any planned expense or emergency. You borrow a lump sum and repay it in fixed monthly payments over a set term.
Common Use Cases
Medical Expenses
Debt Consolidation
Home Improvement
Wedding
Travel
Education
Relocation
Small Business
Credit Score Rate Tiers
| Tier | Score | APR Range |
|---|---|---|
| Excellent | 760+ | 7.49%-9.99% |
| Good | 700-759 | 10.00%-12.49% |
| Fair | 640-699 | 12.50%-16.99% |
| Developing | 600-639 | 17.00%-19.99% |
Debt Consolidation Example
Roll three high-interest debts into one lower-APR payment and reduce total interest by approximately $4,200.
| Scenario | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|
| Before (cards + personal debt) | $920 | $9,480 | $39,480 |
| After (consolidated at 9.99%) | $781 | $5,280 | $35,280 |
| Savings | $139/mo | $4,200 | $4,200 |
Eligibility Snapshot
Credit Score
Typically 640+ for strong pricing
Typically 640+ for strong pricing
Income
Stable verifiable income source
Stable verifiable income source
DTI Ratio
Usually below 45%
Usually below 45%
Residency
US resident in eligible states
US resident in eligible states
Features Checklist
✅ No origination fee
✅ No prepayment penalty
✅ Autopay discount
✅ Fixed monthly payment
✅ Soft pull for rate check
✅ Fast funding options
Application Process
1. Check Rate: Share basic details for personalized range.
2. Select Offer: Choose amount and term.
3. Verify Identity: Upload required docs.
4. E-sign Agreement: Review terms and authorize disbursement.
5. Funding: Funds sent to your linked account.
Frequently Asked Questions
No. Rate checks use a soft inquiry and do not affect your credit score.
Yes. There are no prepayment penalties for early repayment.
Approved applicants may receive funds in as little as 24 hours.
Typically a government ID, proof of income, and banking details.
Yes. Debt consolidation is one of the most common personal loan uses.