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FreedomPlus personal loans review

Borrow up to $40,000 with this highly rated provider — but rates can go up to 29.99%.’s rating: 3.6 / 5.0


  • Best for borrowers with good credit who need at least $10,000.
  • Pick something else if you want a lender with a faster turnaround.


Min. Loan Amount$7,500
Max. Loan Amount$50,000
APR7.99% to 29.99%
Interest Rate TypeFixed
Min. Credit Score620
Origination Fee1.99% to 4.99%
Origination Fee1.99% to 4.99%
Late Fee$15 or 5% of payment amount, whichever is greater
Loan Term2 to 5 years
Turnaround TimeAs soon as the next business day
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  • Minimum annual income $30,000
  • Debt-to-income ratio of 40% or lower
  • Credit score of 620+

To qualify for the lowest interest rate, you’ll need to have excellent credit, borrow up to $12,000 with a term of 24 months and be able to qualify for FreedomPlus’s discounts.

If you fall short on any of these requirements, consider applying for a FreedomPlus personal loan with a creditworthy coapplicant to increase your chances of acceptance.

Is FreedomPlus available in my state?

While FreedomPlus services a wide borrower base, it doesn’t offer its services to residents of these 15 states:

  • Colorado
  • Connecticut
  • Hawaii
  • Iowa
  • Kansas
  • Maine
  • New Hampshire
  • New York
  • North Dakota
  • Oregon
  • Rhode Island
  • Vermont
  • Wisconsin
  • West Virginia
  • Wyoming


  • Services 35 states
  • Multiple discounts available
  • No prepayment fees
  • Accepts coapplicants


  • May take up to three days to receive funds
  • No loans under $10,000
  • Origination fee of up to 5%
  • Limited information on website

Compare other personal loan providers

Name Product Filter Values APR Min. Credit Score Loan Amount
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$600 – $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Best Egg personal loans
5.99% to 35.99%
$2,000 – $50,000
A prime online lending platform with multiple repayment methods.
PenFed Credit Union personal loans
4.99% to 17.99%
$600 – $25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
4.99% to 19.53%
$5,000 – $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Monevo personal loans
1.99% to 35.99%
$500 – $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
Tally+ Express Line of Credit
7.9% to 25.9%
$2,000 – $30,000

Only available for Line of Credit and Debt consolidation

Upgrade personal loans
5.94% to 35.97%
$500 – $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Avant personal loans
9.95% to 35.99%
$2,000 – $35,000
Conveniently check your loan options without affecting your credit score.

Compare up to 4 providers

FreedomPlus reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.7 out of 5 stars, based on 1,135 customer reviews
Trustpilot Score 4.9 out of 5 stars, based on 2,957 customer reviews
Customer reviews verified as of 01 October 2021

FreedomPlus reviews are mostly positive. Borrowers complimented FreedomPlus on its professional, kind customer service and quick process. But a few reported trouble getting in touch with customer service when they wanted to make changes to their loan.

The Better Business Bureau (BBB) has issued an alert for scammers posing as FreedomPlus representatives. Look out for people claiming to represent FreedomPlus who ask you to do business on another website or send money overseas. If you've received an offer from FreedomPlus but aren't sure it's legitimate, call 800-368-0061 to check.

How do I apply?

Follow these steps to apply for a FreedomPlus personal loan online:

What information do I need to apply?

When you fill out the FreedomPlus application, you will need to provide three pieces of information:

  • Valid government-issued ID
  • Proof of income
  • Social Security number

Applying with a coapplicant

FreedomPlus allows you to apply with a coapplicant, which could increase your chances of getting a loan. With a coapplicant, FreedomPlus considers two incomes, lowering your debt-to-income ratio and ultimately your assessed risk to the lender.

freedomplus application process 4

What happens after I apply?

FreedomPlus runs a soft credit check that won’t affect your credit score. If you qualify, a loan consultant gets in touch with you over the phone to discuss your options and ask for documentation. At that point, you upload documents and carefully read the loan contract before signing it.

Finalizing your loan may take three or so days, provided you have the necessary documentation on hand.

How do repayments work with FreedomPlus?

You’ll be on the hook for monthly repayments with FreedomPlus. Consider setting up autopay, which streamlines your repayments. This doesn’t exactly mean you can completely forget about your FreedomPlus personal loan, however.

Keep an eye on your personal bank account and your loan amount to make sure everything goes smoothly. That way you can also avoid NSF or late fees. FreedomPlus charges a late fee of $15 or 5% of the amount due after a 10-day grace period.

Contact customer service as soon as possible if you notice anything off with your account.

Consider comparing the rates and terms of other lenders to make sure you find the best option for you.

Frequently asked questions

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

FreedomPlus personal loans could be a solid option for people with good credit looking to consolidate debt, though those with excellent credit and retirement savings will likely get the lowest rates. Unlike many personal loan providers, you can even apply with a coapplicant to increase your chances of approval. And former customers give it high ratings on the Better Business Bureau.

It doesn’t work with residents of every state, however. And it’s not a good option if you’re looking to borrow just a few thousand dollars — its loans start at $7,500. It’s also not the fastest lender out there — you might have to wait up to three days to receive your funds.

Not sure FreedomPlus is right for you? Compare your other personal loan options below.

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