FreedomPlus personal loans

FreedomPlus offers personal loans from $10,000 to $35,000 and rewards borrowers who are working to consolidate debt.

FreedomPlus is an online lender that provides personal loan customers with some unique perks that other companies normally don’t offer. These include the ability to pay debt directly, and rewards for consolidating debt.

Compare FreedomPlus to other personal loan lenders

Rates last updated July 21st, 2017

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Name Product Product Description Minimum Credit Score Max. Loan Amount APR Requirements
Prosper Personal Loan
Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.
640
$35,000
From 5.99% (fixed)
Must be 18+ years old, an American citizen or US permanent resident and have a 640+ credit score.
Same rates
everywhere
Go to site More
Lending Club Personal Loan
Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.
660
$40,000
From 5.99% (fixed)
You must be over 18 years of age, a permanent resident of the US or an American citizen and have a steady source of income.
Same rates
everywhere
Go to site More
SoFi Personal Loan Fixed Rate (with Autopay)
Borrow up to $100,000 with a competitive APR and no fees.
Good to excellent credit
$100,000
From 5.49% (fixed)
You must be a U.S. citizen or permanent resident 18 years or older.
Same rates
everywhere
Go to site More
Avant
Check your rate — without affecting your credit score — before applying for this unsecured personal loan.
600
$35,000
From 9.95% (fixed)
Examples: You must have good to excellent credit, provide proof of a steady income and be a US resident who is at least 18 years old (19 years old in Alabama).
Same rates
everywhere
Go to site More
Payoff Personal Loans
Pay down your debt with a fixed APR and one monthly payment.
660
$35,000
From 8 to 25% (fixed)
You must have a FICO score of 660 or higher, at least 3 years of credit history and a debt-to-income ratio of no more than 50%.
Same rates
everywhere
Go to site More
LendingPoint Personal Loans
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
620
$20,000
From 15.49% (fixed)
Must have a fair credit score of 600 or better and verifiable income. Must live in a state where LendingPoint services.
Same rates
everywhere
Go to site More
Laurel Road Personal Loans
Get a personal loan with no application or origination fees and a rate discount for autopay.
680
$45,000
From 5.5% (fixed)
Must be a US citizen or permanent resident with a valid I-551 card
Same rates
everywhere
Go to site More
OneMain Financial Personal Loans
Get a personal or auto loan with a quick and easy application and dedicated customer support.
600
$25,000
From 12.99% (fixed)
Eligibility for a loan is determined by your financial history, credit history, income and expenses, and whether or not you have ever filed for bankruptcy.
Same rates
everywhere
More

Compare up to 4 providers

Quick overview of FreedomPlus

Here are a few things to keep in mind if you’re interested in applying for a personal loan through FreedomPlus.

  • The average credit score of a FreedomPlus borrower is between 700-740. Good credit is typically required.
  • You will need to have a low debt-to-income ratio and earn $25,000 or more annually.
  • Before you are approved for a loan, you will be required to speak to a consultant first. Sometimes, they can help you get better rates.
  • FreedomPlus encourages borrowers to have co-signer by offering lower interest rates to those who do.
  • The APR varies from 4.99% p.a., but averages around 21.7% for most customers.
  • There is an origination fee of up to 5% of the amount of the loan.

What makes FreedomPlus unique?

FreedomPlus Personal Loans is unique in the lending world because of offered incentives to lower the APR on your loan. Considering the already competitive APR, the option to lower your interest even further could be wildly beneficial in helping get debt under control.

One way you can decrease your APR is by applying with a cosigner, as this is encouraged by FreedomPlus. Another way is to consolidate your debt and pay off your creditors directly.

How to apply for a FreedomPlus personal loan

FreedomPlus personal loans takes pride in offering their customers a quick and simple application process.

  • Step 1: Fill out the online application form with all of the required information and wait for FreedomPlus to conduct their credit check. Only a soft pull from Experian is used for the check, so it won’t affect your credit score.
  • Step 2: If you’re approved, you will need to create an account online and provide more details about your financial situation. It’s at this point that you may opt to lower your interest by adding a cosigner, or by paying off your creditors directly.
  • Step 3: After you select the loan you need, a FreedomPlus loan consultant will contact you to gather more information (verifying your identity and bank account), and to finalize the approval.
  • Step 4: Once everything is finalized, you can then choose which day each month you would like to make your payment. This date can be changed at any time.

As with any loan, it’s important to review the APR and terms before you sign. Make sure that the loan you’re getting is the one that best suits your needs.

Frequently asked questions

Yes, there are no prepayment penalties.

Yes, but not if it was within the last 2 years.

FreedomPlus offers loans that start at $10,000. However, they do not arrange loans in Arizona under $10,500; Massachusetts under $6,500, Ohio under $5,500 or Georgia under $3,500.

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US Personal Loans Offers

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Lending Club Personal Loan

Borrow up to $40,000 with rates from 5.99% to 35.89% APR based on your credit score.

Prosper Personal Loan

Borrow only what you need for debt consolidation, home improvements, special occasions and more — with APRs based on your credit score.

Upstart Personal Loans

This newer service looks beyond your credit score to match you with accredited investors for low-rate personal loans.

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