Easily apply for the money you need to finance a car, home or small business at competitive rates and adjustable terms.
As one of the largest banks in the US, Chase Bank is also a leading loan provider. It offers multiple types of loan to help finance most milestones in life.
Am I eligible?
To qualify for a loan with Chase, you must
- Have good to excellent credit
- Be at least 18 years old
- Be a US citizen or permanent resident
Depending on your loan type, you might need to meet other eligibility criteria.
What types of loans does Chase offer?
Chase offers home, business and auto loans ranging from $5,000 to $5 million to cover your financial needs.
- Home equity line of credit. You can borrow up to $500,000 with a Chase home equity lines of credit (HELOC). Your APR could be as low as 5.25%.
- Mortgages. Mortgages with Chase can have either fixed or variable rates, with typical rates ranging between 3.25% to 4.00%.
- Business term loans. Used by lenders to consolidate business debts or purchase equipment and goods, these loans have terms that range from one to seven years.
- Auto loans. Finance a new or used car or refinance an existing auto loan. Use Chase’s online calculator to estimate payments and rates based on your creditworthiness and the type of car you’re financing.
Does Chase offer student loans or personal loans?
No. Unfortunately, when you borrow from Chase, you have a limited selection of loan products to choose from.
- Student loans. Chase stopped financing student loans in 2013. If you have a previous student loan through Chase, it is now serviced by Navient. For alternatives, compare these top student loan providers similar to Chase.
- Personal loans. Like many large banks, Chase doesn’t offer personal loans. If you’re interested in taking out a secured or unsecured personal loan, check out these alternatives to Chase.
Compare Chase loans to other lenders
Why should I consider taking out a Chase loan?
- Joint applications. Chase accepts joint applications for many of its loan products and may approve you based on your combined income and credit.
- Easy online preapproval. When you fill out your online application, you’ll be able to see an estimate of how much you can borrow before completing a full application.
- Quick funding. If you’re approved, you will generally receive your loan funds in one to seven business days.
- Customer discounts. Existing Chase customers may be eligible for a 0.25% discount off interest rates on auto loans and lower rates on mortgages.
Pros and cons of a Chase loan
Pros
- High maximum loan amounts. Depending on the loan and your financial background, you could be eligible for a loan from $5,000 to $5 million.
- Variable terms. Chase doesn’t have a one-loan-fits-all approach to things. Different loans have different terms to compete with other top lenders in the market.
- Trusted bank. Chase has been serving customers and providing financial products since 1799.
Cons
- No personal loans. You can’t use Chase to consolidate your debt or take out a loan for personal use. Instead, you’ll have to rely on Chase’s credit card options if you need personal credit.
- Potentially high rates. Not everyone qualifies for competitive rates. If you have poor credit, you likely won’t receive the interest or terms you may be able to find elsewhere.
How much will it cost me to borrow with Chase?
After you apply for a loan, Chase calculates your interest rate based on your credit score, your credit history and other factors. Chase then provides a loan estimate that itemizes your loan’s total cost, including the APR, interest rates, loan terms and other important details. The final cost will depend on your overall creditworthiness and other factors, including your income and your current outstanding debt.
Are Chase loans safe?
Chase uses 128-bit encryption, which scrambles your information to make it more difficult for hackers to intercept, to keep your banking information safe. If you encounter any problems with the website or application, you can call Chase’s customer service.
What do other customers have to say about Chase?
Chase’s online reputation isn’t great. Remember the subprime mortgage crisis? JP Morgan Chase & Co. was involved. In 2013 it reached a $13 billion settlement over its mortgage practices. That settlement doesn’t have much to do with loans it directly offers, but its reputation as a financial institution hasn’t totally recovered.
That might explain why it’s not accredited with the Better Business Bureau — alarming for such a large bank — and gets an F rating based on almost 200 customer reviews, 96% of which are negative. It fares a little better on Trustpilot, scoring a 4.4 out of 10 with 45% of reviewers rating it as “Excellent.”
Many reviewers complained about having issues making payments and didn’t like its frustratingly archaic way of dealing with problems. Its customer service got lukewarm reviews at best. Many reviewers felt Chase didn’t care enough about them.
How to apply for a loan with Chase
The process will vary slightly from loan to loan, but generally you’ll go to Chase’s website and choose the loan you’re interested in. Then follow these steps to fill out your application.
- Log in or create a Chase online banking account.
- Provide your personal contact information and date of birth.
- Describe the real estate or car or supply your business information.
- Provide financial information.
- Arrange a meeting with a banker to complete your loan.
Eligibility requirements
To be eligible for a Chase loan, you must be:
- Good to excellent credit.
- At least 18 years old.
- A US citizen or permanent resident.
You might have trouble qualifying if you’ve had any past bankruptcies, repossessions, foreclosures or other negative lines on your credit report. If you do have some negative points in your credit history, you must be able to show that you’ve consistently worked to rebuild it.
Applicants who are unsure about their chances of approval might want to take on a cosigner with a strong credit history.
I got the loan. Now what?
Depending on what type of loan you took out, there might be a few more steps you need to take. If you have a mortgage, you might need to purchase a home; if you have a car loan, you might need to go buy a car. Your point of contact at Chase should be able to walk you through these final steps.
Once your money is disbursed, set up automatic payments with your personal or business bank account. Keep an eye on your account and your loan’s balance and contact customer service if you notice anything out of the ordinary. You can do this by calling 800-935-9935 or your point of contact at Chase.
Try to pay more than your loan minimum each month, which will lower the term length and see you paying less money on interest in the long run.
I didn’t get a Chase loan. What do I do?
First, find out why your application was rejected. Chase may have rejected your application based on your credit score, income or debt, or you may have made a mistake during the application process.
Bank loans are more difficult to qualify for than ever. Instead of reapplying with Chase, you might want to look at other lenders that might be more lenient, like credit unions and online lenders.
Bottom line
Chase personal loans may be able to quickly get you the money you need for a car, your small business or a new home. However, if your credit isn’t ideal, you may pay higher interest rates on these loans or not qualify at all.
Compare your loan options to see if you’re eligible for lower rates and better terms through competing lenders.
Frequently asked questions
First, am I eligible?
To qualify for a loan with Chase, you must:
- Be at least 18 years old.
- Be a US citizen or permanent resident.
- Have at least good credit.
Depending on your loan type, you might need to meet other eligibility criteria.
What types of loans does Chase offer?
Chase does not offer a typical personal loan to help pay off your credit card debt, take a vacation or other needs. Instead, Chase offers home, business and auto loans that range from $5,000 to $5 million.
- Home equity line of credit. If you need to take out a large loan and want a lower interest rate, a home equity line of credit (HELOC) from Chase may be a suitable replacement to a home equity loan. You can borrow up to $500,000 with an APR as low as 5.25%.
- Mortgages. Buy or refinance a house with a fixed-rate or adjustable mortgage offering terms of 10, 15, 20, 25 or 30 years. Interest rates vary depending on the term.
- Business term loans. Used by lenders to consolidate business debts or purchase equipment and goods, these loans have terms that range from one to seven years.
- Auto loans. Finance a new or used car or refinance an existing auto loan. Use Chase’s online calculator to estimate payments and rates based on your creditworthiness and the type of car you’re financing.
| Want to learn more about Chase loans? |
|---|
| Read the Chase mortgage loans review |
| Read the Chase business loans review |
| Read the Chase auto loans review |
What about other types of loans?
Does Chase offer student loans?
No. Chase discontinued its student loans offer in 2013. If you have a previous student loan through the bank, it’s now serviced by Navient. For alternatives, compare these top student loan providers similar to Chase.
Does Chase offer personal loans?
No. If you’re interested in taking out a general purpose loan, check out these Chase Bank personal loan alternatives.
Why should I consider taking out a Chase loan?
- Joint loans available. Chase can issue credit to multiple people based on combined incomes.
- Easy online pre-approval. Learn your estimated rates and how much you can borrow before applying.
- Quick funding. Receive your money in 1 to 7 business days.
- Repeat borrowing. Easily refinance or borrow additional money with good credit.
- Customer discounts. Existing Chase customers can get a 0.25% discount off interest rates on auto loans, as well as lower fees and rates on mortgage loans.
- Other banking products. Open checking and savings accounts, debit cards, credit cards and lines of credit.
Compare Chase loans to other lenders
How much will it cost me to borrow with Chase?
How much a Chase loan will cost will depend on your overall creditworthiness and other factors.
After you apply for a loan, Chase calculates your interest rate based on your credit score, your credit history and other factors. Chase then provides a loan estimate that itemizes your loan’s total cost, including the APR, interest rates, loan terms and other important details.
Are Chase loans safe?
Chase uses 128-bit encryption to keep your banking information safe. Its site is also secured by SSL encryption, which scrambles your information to make it more difficult for hackers to intercept.
If you encounter any problems with the website or application, you can call Chase’s customer service.
What do other customers have to say about Chase?
Chase’s online reputation is not great. Remember the subprime mortgage crisis? JP Morgan Chase & Co. was involved. In 2013 it reached a $13 billion settlement over its mortgage practices. That settlement doesn’t have much to do with loans it directly offers, but its reputation as a financial institution hasn’t totally recovered.
That might explain why it’s not accredited with the Better Business Bureau — alarming for such a large bank — and gets an F rating based on over 160 customer reviews, 97% of which are negative. It fares better on Trustpilot, scoring a 6.0 out of 10 with 55% of reviewers rating it as “Excellent.”
Many reviewers complained about having issues making payments and didn’t like its frustratingly archaic way of dealing with problems. Its customer service got lukewarm reviews at best — many reviewers felt Chase didn’t care enough about them.
How to apply for a loan with Chase
The process will vary slightly from loan to loan, but generally you’ll go to Chase’s website and choose the loan you’re interested in. From there, you’ll:
- Log in or create a Chase online banking account.
- Provide your personal contact information and date of birth.
- Describe the property or car you’re interested in financing or your business information, for a business loan.
- Provide financial information that could include your annual income, your tax statements and banking details.
- Arrange a meeting with a banker to complete your loan.
Eligibility requirements
To be eligible for a Chase loan, you must be:
- At least 18 years old.
- A US citizen or permanent resident.
- Good to excellent credit.
You might have trouble qualifying if you’ve had any past bankruptcies, repossessions, foreclosures or other negative lines on your credit report. If you do have some negative points in your credit history, you must be able to show that you’ve consistently worked to rebuild it.
Applicants who are unsure about their chances of approval might want to take on a cosigner with a strong credit history.
Pros and cons of a Chase loan
Pros
- High maximum loan amounts. Depending on the loan, you could be approved for $5,000 to $5 million.
- Variable terms. Different loans offer different terms that are competitive with others in the market.
- Trusted bank. Chase has been a name in the finance world since 1799.
Cons
- Does not offer traditional personal loans. You can’t use Chase to consolidate your debt or take out a loan for personal use.
- Potentially high rates. If your credit is poor, you may see rates that are higher than you’d find elsewhere.
I got the loan. Now what?
Depending on what type of loan you took out, there might be a few more steps you need to take before all you have to worry about is repayment. If you have a mortgage, you might need to purchase a home; if you have a car loan, you might need to go buy a car. Your point of contact at Chase should be able to walk you through these final steps.
Once your money is disbursed, set up automatic payments with your personal or business bank account — that way it’s one less thing you need to worry about keeping track of. This doesn’t mean you can sit back and forget about it. Keep an eye on your account and your loan’s balance, and contact customer service if you notice anything out of the ordinary. You can do this by calling 800-935-9935 or your point of contact at Chase.
It’s also a good idea to try to pay more than your loan minimum each month, which will lower the term length and see you paying less money on interest in the long run.
I didn’t get a Chase loan. What do I do?
First, find out why your application was rejected. Common reasons bank loans are rejected include having a credit score that’s too low, not having enough consistent income, having too much debt or mistakes in the application. Take steps to pay off your debts, up your credit score and look into other sources of income if you want to cover all your bases.
Keep in mind that bank loans are more difficult to qualify for than ever. Instead of reapplying with Chase, you might want to look at other lenders that might be more lenient, like credit unions and online lenders.
Bottom line
Chase personal loans may be able to quickly get you the money you need for a car, your small business or a new home. However, if your credit isn’t ideal, you may pay higher interest rates on these loans or not qualify at all.
Compare your loan options to see if you’re eligible for lower rates and better terms through competing lenders.
