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FAQ - Get your personal loan offer today
Loans up to $250,000 with APRs as low as 2.49%


Most frequent questions and answers

A personal loan is an unsecured loan, that is deposited into your bank account that begins monthly repayments 30-days later. The principal amount of the loan is deposited into your bank account within a couple business days. Interest begins to accrue at the agreed upon interest rate every day. Every month you will make a monthly payment of principal and interest, usually through automatic debit from your bank account. You will make monthly payments until the loan is paid back. If you would like to pay the loan back early, there are generally no prepayment penalties to do so.

Unsecured personal loans range from $2,000 to $250,000 depending on the lending partner.


Unsecured personal loans can be used for anything except tuition related expenses. Most commonly, loans are used for debt consolidation or credit card payoff. Other popular uses are home improvement, elective medical procedures, large purchases, vacations and weddings. Lenders do not track what you use the proceeds for. They will ask you during the registration process, but that does not affect your loan chances nor will they follow up with you. Some lenders however, have realized that if you do pay off your credit cards, you’re being responsible with your finances and taking charge of them. They will often give you a reduced interest rate if you agree to have your loan payoff your credit card debt directly.

APR’s (annual percentage rates) vary depending on several factors including your credit information and the loan requested. Interest rates will vary greatly depending on these factors. Your interest rate is the rate that your loan accrues interest and dictates how much interest you will pay back over the life of the loan.

Your credit score and credit information are the main factors that lenders use when making a loan decision. If your credit score is higher, you will be viewed as a lower risk candidate and will be provided a lower interest rate. If your credit score is lower than average, the risk of offer you a loan is greater and you will therefore be assigned a higher rate. If there are other positive or negative credit factors in your credit report, these will also factor into the loan interest rate your loan will be assigned.