If you need a small personal loan, it’s important to be aware of the options available to you. The good news is that there are a lot of different choices. You can opt for a traditional bank, a credit union or a new, innovative lender. Regardless of which option you choose, you’ll be able to get the financing you need.
Upstart
Upstart offers small personal loans with flexible terms and rates. Its loan features include no prepayment penalty, quick funding, and a 15-day late fee grace period. But do you qualify?
Upstart’s small personal loans can be used for unexpected bills and large purchases. They’re also useful for financing home renovations, weddings, credit card payments, or travel. Upstart offers loans between $1,000 and $50,000.
Upstart’s application process is relatively simple. Applicants are asked for basic information, such as income, bank accounts, and other relevant details. They also get an estimate of what their monthly payment will be. The company’s customer service is available seven days a week, from 9:00 a.m. to 8:00 p.m. ET.
Avant
The Avant Small Personal Loans offer you an excellent alternative to traditional short term loans. The product offers a wide range of loan amounts with flexible payment options. This product is ideal for any number of uses such as auto repairs, consolidating credit card debt, and paying off bills.
The pre-qualification form only takes about five minutes to complete. You will need to provide some basic information about yourself, including your name, date of birth, and current address. You will also need to provide proof of your income.
The site offers a mobile application for those who are on the go. The application also has a slick online platform that allows you to answer a few basic questions.
DCU
One of the top 20 credit unions in the country, DCU offers a wide range of banking products and services. Their personal loans are a good choice for people looking for low rates.
DCU is also a strong online presence. Members can access their accounts through a variety of different channels, including a mobile banking app and an internal customer website. In addition to offering a number of banking options, DCU also provides a wealth of educational resources for members.
As a federal credit union, DCU must meet certain standards set by the National Credit Union Administration (NCUA). The organization has been in business for over 30 years and serves more than 900,000 members across the country.
PenFed Credit Union
PenFed Credit Union offers personal loans in all 50 states. They are available through online applications, as well as at local branches. The company has an A+ rating with the Better Business Bureau. It also has an online help center. The loan process is simple.
In addition to personal loans, PenFed offers a variety of other services. They offer checking and savings accounts, as well as a mobile app. These features allow users to easily manage their account. They can apply for a loan, make payments, or even update their information.
A good credit score can be key to a loan approval. Ideally, an applicant will have at least a 600 score. However, borrowers with a 720 or higher can qualify for a larger amount and lower interest rates.
MoneyTap
MoneyTap is India’s first app based personal line of credit financing. It provides consumers with an easy and flexible loan repayment tenure. It also allows users to control disbursements.
It offers credit lines up to five lakhs. The app can be downloaded from the Google Play Store. Using the application, users can check their credit score and eligibility, and get instant pre-approval. It is one of the most innovative products in the market.
The MoneyTap app leads a 100% paperless process. It has a chatbot interface which connects with the banking system and credit bureau. The user fills in some basic details, like his income and PAN, and the app then checks his credit profile.
Wells Fargo
Wells Fargo personal loans are available for a range of reasons. They are also available at attractive rates. However, there are a few things to watch out for when applying.
You should compare the interest rate you’ll get with different lenders before deciding on a loan. This is because you may be able to get a better rate elsewhere.
The interest rate will vary based on your credit history and the lender. You may be eligible for a better rate if you have a higher credit score.
If you have a checking account with Wells Fargo, you can take advantage of a relationship discount. This means you’ll get a 0.25% interest rate discount on your loan.