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How to get a personal loan in 5 simple steps.

What can I use a Personal Loan for?

A Personal Loan can be used to consolidate your debt, pay off bills or cover unexpected expenses. Typical uses of a Personal Loan would include paying for things like car repairs, home renovations, travel, weddings, or other life events.

What are the interest rates at easyfinancial?

Our interest rates range from 14.99% â 46.96%. The interest rate varies based on your loan type, loan size, length of term, and our assessment of your credit profile.

What is the difference between a Personal Loan and a Home Equity Loan?

A Personal Loan allows you to access funds without having to provide any collateral to secure the loan against. easyfinancial Personal Loans have rates starting at 29.99% and loan amounts up to $20,000 with no fees or pre-payment penalties. A Home Equity Loan requires you to secure your loan with collateral such as a home. By securing your loan, you can access higher loan amounts up to $50,000 and lower rates as low as 14.99%.

What documents are needed to get an approval for a Personal Loan?

We require the following documents:1.Two most recent pay stubs2.Last 90 days of banking information 3.1 recent bill addressed to your current home 4.A piece of non-expired government photo ID

Are there any upfront fees associated with a Personal Loan application?

There are no upfront fees to apply for a Personal Loan.

Didnât find what you are looking for?

What Is Moneytap Personal Loan

Now you can get an instant MoneyTap Personal Loan of up to â¹5 Lakh without any collateral or guarantors. Use this money for travel plans, mobile phones, medical emergencies, weddings, education loans, home renovation, and more.

MoneyTap Personal Loans start at an interest rate of 1.08% per month . The best part is, you can get an approved credit limit of up to â¹5 Lakh, but you donât have to pay any interest until you transfer this money to your bank account. Whatâs better? You donât even have to transfer the entire amount at once you can borrow only as much as you need from your limit. The interest will be charged only on the used amount. Repay when itâs convenient for you by choosing flexible EMI options of 2-36 months.

Apply online with 3 easy steps and get instant loan approval with minimum documentation.

  • Fill in your details
  • Get approved within minutes

MoneyTap is Indiaâs first and most trusted app-based credit line loan. More than 10 Million people have downloaded the MoneyTap app.

Experience quick, easy, and hassle-free digital loan approval with MoneyTapâs new generation Personal Loan 2.0 and get your loan approved within minutes!

How To Get A Personal Loan

If you want a personal loan, you should compare multiple lenders to find the lowest interest rate. Start with your current bank and then apply with online lenders, local credit unions and other banks. Most lenders will allow you to get prequalified, letting you see your potential interest rates and terms before you apply, all without a hard inquiry on your credit report. Along with interest rates, you should also compare loan terms and fees.

Once you find a lender you like, youll submit a complete application with your loan details, personal information and income verification documents. This will result in a hard inquiry on your credit report. For most lenders, this part of the process is quick as long as you submit all relevant documents, you may be able to get your funds in a matter of days.

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Know Your Rights Under Regulation Z

In 1968 the Federal Reserve Board implemented Regulation Z which, in turn, created the Truth in Lending Act , designed to protect consumers when making financial transactions. Personal loans are part of that protection. This regulation is now under the auspices of the Consumer Financial Protection Bureau .

Subpart CSections 1026.17 and 1026.18 of the TILA require lenders to disclose the APR, finance charge, amount financed, and total of payments when it comes to closed-end personal loans. Other required disclosures include the number of payments, monthly payment amount, late fees, and whether there is a penalty for paying the loan off early.

Best Places To Get A Personal Loan Online

What Can I Get a Personal Loan For?

Online lenders havent been around as long as banks and credit unions, but theres certainly no shortage of them. They process all of their applications online, so you typically wont have to wait long to receive a decision and get funded if youre approved. At the same time, their interest rates can be higher than those of banks or credit unions, depending on your credit.

Some online lenders may charge interest rates as high as 36% if your credit isnt the greatest. They may give rates as low as 6% to the most creditworthy customers, though. Online lenders may also be more willing than banks to lend to people with bad credit or no credit.

Read Also: Do Mortgage Loan Officers Get Commission

Easily Find Loans You Can Get Today Online

Our review of six loans you can get today focuses on personal loans arranged by online loan-matching networks. When speed is important, these networks can find you a willing lender in minutes. You simply fill out a short loan request form with a few essential data items and let the loan network find the right lender for you.

These loan services routinely work with borrowers who have bad credit. They dont perform hard inquiries on your credit reports, although the direct lender may. If you can satisfy the requirements for income, residency, account ownership, and age, you stand a good chance of receiving a personal loan offer despite your low credit score.

What Are Personal Loans Used For

There are several circumstances for which you can use bad credit personal loans:

  • Medical expenses. If you need urgent medical attention, taking out a personal loan can help cover your treatment costs.
  • Debt consolidation. You can roll multiple debts into a single payment through a personal loan.
  • Car repairs. If you own a car, repair costs are inevitable, but you can take out a personal loan to get the job done immediately.
  • Rental bonds. The cost of moving houses is high enough even without the security deposit. If you need money to pay the rental bond, you can take out a personal loan.

Want to know if you are eligible for bad credit personal loans? Your first step should be to obtain a copy of your credit report and credit score. Sign up with us today to get exclusive offers on financial products and services!

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Check Your Credit Score

Most lenders will run a credit check to determine how likely you are to repay your loan. While some online lenders have started to look at alternative credit data, they will still typically look at your credit score.

The best personal loans typically require that you have at least fair credit usually between 580 and 669. Good and excellent credit above 670, however, will give you the best chance of getting approved with a competitive interest rate.

You can get a copy of your credit report from AnnualCreditReport.com. It will provide a free copy of your credit report from all three credit bureaus every 12 months. Check to see if there are any errors on the report. If you find mistakes, contact the major credit reporting agencies to get them corrected.

If your credit score is low for other reasons, you may still have a chance to get a loan. But the interest rates and fees may be too high to make it worth it, so take steps to improve your credit before applying.

Takeaway: Checking your credit score will give you an idea of where you stand. The better your credit score, the more likely you are to get approved for a loan and the lower your interest rate could be.

Next steps: Check your credit score and history. If your score is lower than the qualification requirements and you dont need a loan immediately, work on improving it.

What People Love About Us

Personal Loans : How to Get a Personal Loan Without a Job

Ethan

Had the most pleasant and fantastic service at easyfinancial. Chloe went above and beyond to help us achieve our financial relief goal in the most friendly and professional manner.

Anonymous

easyfinancial provided me with an exceptional experience through a difficult time. I came in for a loan after being denied by the banks and they were not only able to help but they made everything so much easier.

Stephan

Quick and easy process. Got money within 48 hours of applying. Highly recommend!

Sean Crawford

They were willing to work with me to approve my personal loan when no other company or bank would help. That means a lot to me as I needed to get a credit rating.

Adriana Manta

Clayton and Melissa did a good job helping me create a plan to repay my old debt with a Personal Loan. Very informative customer service experience. Thanks again.

Natasha Chery

Great people, great service. Working with Melissa and Jerry was a pleasure! I had a surprise financial setback and they were happy to help me!

Ethan

Had the most pleasant and fantastic service at easyfinancial. Chloe went above and beyond to help us achieve our financial relief goal in the most friendly and professional manner.

Anonymous

easyfinancial provided me with an exceptional experience through a difficult time. I came in for a loan after being denied by the banks and they were not only able to help but they made everything so much easier.

Stephan

Sean Crawford

Adriana Manta

Natasha Chery

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Personal Loans You Can Get Today

The following six loan-matching sites specialize in getting you a loan funded either the same day or the next business day. All six work with networks of direct lenders who are experienced in lending to bad-credit consumers.

While not as quick as a , a personal loan is usually less expensive and more flexible.

Varies

See representative example

CashAdvance can prequalify you for a small personal loan within a few minutes and immediately forward you to a direct lender. If you accept a loan offer, your money will be available in your bank account as soon as the next business day perhaps sooner.

To prequalify, you must be a U.S. citizen, age 18 or older, have an income of at least $1,000 a month after taxes, a valid email address, a checking account, and a working phone number.

All of these lending companies follow a similar operating scheme:

  • You select one of the loan-matching services and fill out a short loan request form. The form will accept data about your identity/age, your residence, your job, your bank account, your email address and phone number, and your income. You also may have to divulge your Social Security number and/or the purpose of your loan.
  • The loan service informs you whether you prequalify for a loan and will ask you whether you want to proceed.
  • If you reply yes, the loan service will match you with a direct lender on its network and transfer you to the lenders website.
  • You should receive a decision within a few minutes.
  • What Are The Personal Loan Emi Options Available

    • Standard EMI

    The standard EMI option under Personal Loans is one in which you get the freedom to pay off your principal loan amount inclusive of interest consistently on a monthly basis. Here, the interest is charged on the total principal amount that was borrowed.

    • Step-Up Flexi Loan EMI

    A step-up flexi EMI option in Personal Loan is one which offers greater flexibility. Under this plan, you can pay lower EMIs in the beginning and pay more gradually as your salary hikes.

    To understand the repayment options available to you, visit our Personal Loan EMI options page

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    Bank Of Baroda Personal Loan

    Personal loans from Bank of Baroda offer a quick and easy solution to all your urgent financial needs and have many advantages over other forms of credit, such as credit cards and informal loans from friends, family members or untrustworthy financiers.

  • Higher borrowing amount
    • To apply for a personal loan, applicants can be employees of government bodies or private companies with minimum continuous service of one year. Similarly, self-employed professionals or business persons who want to apply for personal loans need to have their business or practice for at least one year.
    • Applicants need to be at least 21 years of age to be eligible for a personal loan, while co-applicants are not allowed. The maximum age to apply for personal loans is 60 years for salaried and 65 for non-salaried persons at the end of the repayment period.
    • The personal loan amount varies by location. In metro and urban areas, the loan amounts can range from Rs. 1 lakh to Rs. 15 lakhs. In semi-urban and rural areas, the personal loan amount varies from Rs. 50,000 up to Rs. 15 lakhs.
    • The processing charges for personal loans are calculated as 2% + GST of the loan amount, with a minimum of Rs. 1000 + GST up to Rs. 10,000 + GST.
    Purpose

    For any purpose other than speculation.

    Eligibility Borrowers
    Co-Applicant

    Applications to be considered on individual basis only. Co-applicants not to be allowed.

    Age
    Quantum of Finance

    Limit is stipulated based on the classification of the financing branch.

    Maximum

    Minimum

    How To Overcome Financial Hardship And Who Can Help

    How to get a $20,000 personal loan

    Many people in Australia are currently facing financial hardship due to various natural disasters, the housing affordability crisis and rising interest rates.

    If you are currently suffering from financial hardship, there are multiple ways you can get help:

    • Speak to a financial counsellor – call the National Debt Hotline to talk about your options with a free financial counsellor.
    • Contact your bank – your bank can look at your individual circumstances and help you work out a plan.
    • Contact your insurance provider – they will have a range of options to help you.
    • Emotional support – if your financial situation is impacting your mental health, you can contact Beyond Blue on 1300 22 46 36.
    • Free legal advice – if you need legal help because of your financial situation, free advice is available from community legal centres and Legal Aid offices in each state and territory.

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    What Is A Loan For Bad Credit

    Anyone can be faced with the sudden need to borrow money at any given time. Having bad credit undoubtedly complicates the challenge, but the good news is that loans for bad credit are available from multiple sources.

    You have bad credit if your score is below 580 on the FICO scale of 300 to 850 .

    Having bad credit makes it harder to borrow money, and youre likely to be saddled with high interest rates, high fees, and limited loan amounts. While a low credit score increases an unsecured loans overall cost, the loan can be structured with a longer term to make the monthly payments more affordable.

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    Personal Loans From Credit Unions

    are good places for borrowers with fair or bad credit to get a personal loan because they may have softer requirements and lower interest rates. To apply for a loan, you must become a member first, which typically requires a small fee.

    First Tech Federal and Alliant Credit Union are two credit unions that offer personal loans starting at $500 and $1,000, respectively.

    What Is The Importance Of Cibil Score For Personal Loan

    When To Get A Personal Loan (And When Not To!)

    CIBIL score, an important indicator of your credit health, is a three-digit number summarising your credit history, report, and rating. The score ranges from 300 to 900 and indicates your ability to repay your personal loan amount in a timely manner.

    CIBIL score plays a decisive role in the Personal Loan application process. When a self-employed or salaried individual approaches a financial institution for a loan, the lender checks the CIBIL score and report of the applicant. If your CIBIL score is low, it reduces your chances of getting the loan. The score also affects your loan interest rates, tenure, amount, and EMI. The higher the CIBIL score, the better.

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    Personal Loans From Online Lenders

    Online lenders typically offer the fastest way to get a personal loan, with some loans approved and funded within a day or two. Most online lenders also let you pre-qualify and see your rate and term before you formally apply. The pre-qualification process involves a soft credit check and allows you to compare loans from multiple lenders without impacting your credit.

    Some online lenders target good- or excellent-credit borrowers by offering high loan amounts and low interest rates. Others cater to fair- or bad-credit borrowers . Rates are higher, but a lender may consider other factors beyond your score, such as education or employment.

    » MORE:Best bad-credit loans

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