Personalloans Com Reviews

Unbiased review about

Personalloans Com Reviews
Personalloans Com Reviews

Life is unpredictable, and with the hard economic times, you may find yourself in situations where you need quick financial assistance. It could be for an emergency, a family vacation, debt consolidation, or for home improvement. A low interest personal loan would be ideal for such situations.

The loan search, however, can be a daunting and confusing task. If you have applied for a loan several times, and you were rejected, you probably know how much of a hassle it can be. It’s even worse with the wide array of options available to you.
That’s why specializes in quickly and efficiently connecting people to a network of personal loan lenders who they can work with to get the financial assistance they need.

More about

Note that is not a lender. It is a matching platform that allows you access to an extensive network of lenders. was founded with the sole mandate of connecting borrowers with lenders.

Approval guidelines for a loan vary from lender to lender, and sometimes getting constant rejections from lenders can be so frustrating.

For that reason, strives to make loan search less of a hassle by matching them to lenders in their network that they are compatible with.

The whole platform is designed in such a way that you submit your request by filling out a form on their website. And will use its algorithms to quickly and conveniently match you to a lender who fits your specific needs.

What are personal loans?

These are installment loans that borrowers can pay over a period in scheduled installments.

Unlike payday loans where you have to pay a lump sum amount within two weeks after borrowing, with a personal loan, you’ll get loan durations of 90 days to 72 months.

The loan amount you qualify for and the interest rate you’ll be charged vary based on your credit score, credit history, and usage.

Although interest rates vary amongst lenders, most lenders in the network offer rates in the range of 5.99% to 35.99% on their loans.

It’s essential to understand all the terms and conditions of the loan before signing the lender’s loan agreement form.

Types of loans offered offers three types of loans in their network:

  • Bank personal loans
    To qualify for personal loans from banks, you need to earn at least $3K per month.
    Loan amounts range from $1k to %35k, and you can take them through your local bank, although the applications are done and processed online.
  • Personal installment loans
    Loan amounts range from $1K to $20K, and you get funded directly with the bank under your state’s law.
  • Peer to peer loans
    In this form of funding, you don’t need to deal with the bank; instead, you’ll get funding directly from the investor.
    With investor funding, you can get loan amounts anywhere from $4K to $35.
    You, however, have to pay an origination fee of between 1% and 5%. loan application process

To be approved and find a loan from a lender in the network, you need to follow the three-step procedure below.

  • Fill out a loan request form online
    Usually, this form is short and easy to navigate through. You can fill it out in less than 5 minutes. All you need to do is enter your personal information, your employment history, and income, the loan amount you need and why you need it.
    To qualify for a loan from their lenders, you need to be at least 18 years old, have an active bank account, a source of income and a relatively average credit score.
  • Wait to be matched with a lender
    Their team of experts will go through your loan application to find a lender you are most compatible with.
    Since they know the approval guidelines of the lenders in their platform, matching you doesn’t take a long time.
    You’ll receive a notification very quickly.
  • Learn about your loan terms on the lender’s website
    After matching, you’ll be directed to the lender’s website to get more information regarding your loan.
    If there is any additional information required, you’ll be asked to submit it.
    The lender will let you read and understand the terms and conditions of your loan before signing the loan agreement form.
    It’s necessary that before you sign the loan agreement form, you understand all the features of your loan like APR, interest rate, loan duration, the installment amount, and other repayment terms.
    Once you agree to the lender’s conditions, you’ll append your signature on the loan form, and the funds will be credited to your bank account within 1-5 business days.
    The interest rate charged on your loan will vary based on your credit scores, your loan amount and the state you reside in.

Benefits of using

  • With, you don’t have to go through the hassle of sending several loan applications to multiple lenders. This may dent your credit scores further.
  • You can still qualify for a loan amount in the range of $1K to $35K even with a not so perfect credit score.
  • The lending decision is made much faster, and you’ll get an approval decision within minutes after filling out the loan request form.
  • It cuts the gambling process. You only need to apply once and wait for their response.
  • They have reliable and efficient customer care standing by to offer guidance and act on customers’ complaints as they come.


  • is not a lender. They merely match you to lenders you are compatible with who can offer you financial assistance. Not knowing what the lender requires of you may make you anxious.
  • The interest rates charged by lenders on their platform are very high. You may pay up an amount equivalent to the loan you took out or even more.

Borrower’s responsibility

  • Before taking out any loan, it’s important to know the actual cost of the borrowing, and if you can comfortably pay it back without defaulting.
  • Read and understand the fine prints of your loan before appending your signature on the loan agreement form to avoid future surprises.

From the above review, it is clear is a reputable, convenient, and reliable online matching platform. If you are having a hard time finding lenders and the perfect loan for your situation, why not give it a try.

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