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PersonalLoans.com has been around since 2015 and they specialize in finding you the best rates for personal loans. They don’t charge a fee to use their service of matching you with their network of lenders.

They offer traditional personal loans, personal installment loans, and peer-to-peer loans which may be funded by individuals or companies.

PersonalLoans.com

4.4 out of 5

PersonalLoans.com is a good option if you are looking for a personal loan of up to $35,000 and want multiple competing lender offers to get the best possible rates.

EFFECTIVENESS
5 out of 5
PRICE
3.5 out of 5
EASE OF USE
5 out of 5
SUPPORT
4.1 out of 5

Pros

Multiple loan offers

Competing lenders

Bad credit OK

Cons

Must provide personal info

Phone calls from lenders

High APR rates

Who Is PersonalLoans.com?

PersonalLoans.com started in 2015 by bringing together traditional lenders, peer-to-peer lending networks and tribal loans (from Native American Indian Funds). Today, they have grown to offer personal and installment loans across the United States to all credit types.

They are not an actual lender but provide the platform for borrowers with both good and bad credit to find the best rates by receiving multiple offers from different banks or lenders.

PersonalLoans.com home page
Approved icon

Prequalify for a Personal Loan

Check your personal loan rates by answering a few questions. It only takes two minutes and has no impact on your credit score.

What Makes Them Different?

PersonalLoans.com is unique in that it offers a robust platform for peer-to-peer borrowing and access to tribal loans.

Tribal loans offer the opportunity for people who are self-employed or have a varied credit history to qualify for personal loans that they may not qualify for with a traditional lender.

⚠️ Keep in mind that tribal loans are funded from sovereign native American lands and do not always have to meet state APR maximums.

They have relationships with a wide variety of banks and lenders which allows them to offer personal loans to people with bad credit, no credit, or limited credit. Even if you have bankruptcies, repossessions, and judgments, PersonalLoans may have a lender willing to lend money.

☝️ Keep in mind that if you have a lower credit score you will be charged a higher APR interest rate because you statistically are a higher risk to default.

Based on PersonalLoans.com reviews, they are one of the few marketplaces where you can qualify for a loan as short as 90 days.

They also offer you the ability to apply and complete the entire loan process from your mobile phone on their PersonalLoans.com app.

What Can You Use the Loan For?

There are several reasons you may need a personal loan and below we list out some of the reasons you may need a PersonalLoans.com personal loan:

  • Debt/Credit Card Consolidation
  • Down Payment For Home
  • Major Purchase
  • Home Improvement
  • Medical Expenses
  • Moving/Relocation
  • Vacation
  • Start Business
  • Education
  • Your Wedding

How Does PersonalLoans.com Work?

PersonalLoans.com have one of the easiest platforms to use and it only takes about 2 minutes to find your best rate.

1. Find Your Rate

The first thing you need to do is fill out the short form on their website. It takes about 1 – 2 minutes to enter your information.

You need to provide basic information and financial income, as well as the amount of the personal loan you are looking to apply for.

PersonalLoans.com doesn’t check your credit score to get lender offers, they only do a soft credit check. This means you get to see what rates you can qualify for without the worry of it affecting your credit.

2. Compare Your Options

Once you put your information in and submit the form you will be taken to a dashboard. This dashboard will have multiple pre-approval offers from different lenders.

Keep in mind, these are Pre-Approvals and your actual approval is not guaranteed; however, you will get to see your actual pre-qualified rates.

The rates you see are usually very accurate as long as you can verify your information and nothing changes on your credit report.

3. Apply For Your Personal Loan

Once you pick a lender, it’s time for you to apply. During the application process, you’ll get asked more in-depth questions about your use of the loan, your financial history, and the lender will run a credit check.

Note: This all happens on the PersonalLoans.com website. 

Once this step is done the lender will work with you directly to finalize all of the loan details.

What Information Will You Need To Apply?

Before filling out the online form make sure you have the below information ready:

  • Date of birth.
  • How much do you want to borrow?
  • What do you plan to use the money for?

Eligibility

In order to be eligible for PersonalLoans.com you must meet the below personal loan requirements:

  • Be a U.S. citizen or permanent resident
  • Be at least 18 years old
  • Have a valid ID
  • Have a regular income
  • Have a checking account

Loan Terms

While specific terms of personal loans will vary depending on our state, your lender or lending partner and your specific circumstances, below is a general range of common terms.

  • Loan amount: $1,000 – $35,000
  • Lending period: 90 days – 72 months
  • Payment frequency: Once a month or twice a month
  • Min APR: 5.99%
  • Max APR: 35.99%*
  • Prepayment penalty: None

*APR will vary based on your credit score, repayment history, and other factors.

Loan Examples

AmountPeriodAPRMonthly PaymentTotal Payments
$2,00012 months24%$189.12$2,269.44
$4,00024 months12%$188.29$4,518.96
$6,00036 months12%$199.29$7,174.29

👉 Need more options? Check out our reviews of other online lenders.

PersonalLoans.com Customer Reviews

PersonalLoans.com has had a file at the Better Business Bureau since 2015. The company currently has an A- rating. They only had ten complaints in the past three years.

PersonalLoans.com BBB page (November 2022)

They have a 4.6 rating on TrustPilot with mostly positive reviews, and 3.13 rating on Sitejabber.

PersonalLoans.com reviews from their customers predominantly praise the platform’s ease of use and their excellent customer service team for their friendliness and ability to resolve problems.

PersonalLoans.com positive customer review

Customers also appreciate that PersonalLoans.com are available to people with varying credit scores from excellent credit, good credit, fair credit and even bad credit or no credit.

PersonalLoans.com positive customer review praising the speed of service

Many customers praised the speed with which they received larger loans for home projects and emergency needs.

We were not able to find many negative customer reviews. The ones we did manage to find mostly point out that the company is asking for too much personal information just to get you prequalified for a loan.

This is a good point and a thing to keep in mind when dealing with any loan matching service.

⚠️ Warning: Remember to take crowdsourced reviews with a grain of salt. Not only are they easily manipulated by companies, but consumers are more likely to leave reviews about complaints than compliments.

Steps To Take After Approval

It feels great getting approved for something, no matter what it is, you feel like you have just won something. But, now that you have been approved, there are some things you should be doing with your accounts.

Make On-Time Payments

I am sure you are tired of seeing everyone saying “on-time payments”. But it is super important and is one of the largest factors in helping grow your credit score.

Of course, you probably didn’t obtain this loan for building your credit.

However, you still need to be mindful that this product can harm your credit if you don’t manage it correctly.

No matter what, avoid late payments.

Pay Back The Loan ASAP

Along with making on-time payments, you should definitely pay this loan off as fast as possible.

Large personal loans tend to linger and we usually only pay the minimum. While this does keep more cash in your pocket in the initial phase, eventually you end up spending thousands of more dollars in interest payments.

Getting your credit utilization ratio below 30% will also be great for helping your credit score grow.