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PersonalLoans.com personal loans review

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Discover personal loan options from multiple lenders — all in one place

PersonalLoans.com is a loan-connection service that gives you a convenient way to get a suitable personal loan through its nationwide network of lenders. However, its limited lender network might not make it the best place to compare a variety of personal loan options.

$35,000

Max. Loan Amount

Starting from 2.47%

APR

580

Min. Credit Score

Details

Product NamePersonalLoans.com Loan Connection Service
Min. Loan Amount$500
Max. Loan Amount$35,000
APRStarting from 2.47%
Interest Rate TypeFixed
Minimum Loan Term0.25 years
Maximum Loan Term6 years
Turnaround TimeVaries by Lender
Go to PersonalLoans.com's website

Do I qualify?

In order to submit a loan request with PersonalLoans.com, you’ll have to meet a few minimum requirements.

  • You must have a credit score of at least 580
  • You must have a valid bank account
  • You must have a regular source of income
  • You must have no accounts that are overdue by 60 days or more
  • You must not have any current or recent bankruptcies

Available in 47 states

PersonalLoans.com is available everywhere in the US besides Arkansas, Georgia and New York.

How does PersonalLoans.com work?

PersonalLoans.com is a connection service. By submitting your information once, you can be considered by a wide network of lenders. If approved, you’ll be presented with a loan offer. Depending on the lender and the time of your request, you may even be able to receive your funds within one business day.

With personal loans available from $500 up to $35,000, PersonalLoans.com offers access to numerous lenders that can help you get cash quickly. If you have a credit score of 580 or higher, you can receive loan offers with transparent lending conditions from some of the nation’s top lenders in a matter of minutes. Your loan’s terms will vary by lender. Read over your loan contract before signing to be sure you’re getting a good deal, and don’t hesitate to contact the lender you’re connected with if you have any questions.

What personal loan options are available?

Laws and regulations that govern personal loans vary from state to state, which has a bearing on the loans that you can request through PersonalLoans.com. Depending on the state you live in, your options may include

  • Peer-to-peer loans. PersonalLoans.com may be able to connect you with a peer-to-peer lender looking to invest in a loan. You typically need a credit score of over 580 to qualify.
  • Installment loans. The regulations surrounding installment loans vary by state, but PersonalLoans.com may be able to connect you to a lender that offers a short-term loan option that can work for you. Borrowers don’t have to have the best credit, but a score of 580 or more is preferred.
  • Bank personal loan. To qualify for a bank loan, you’ll need a credit score of at least 580 and a minimum income of $3,000 per month in order to be connected with a lender through PersonalLoans.com.
Go to PersonalLoans.com's site

What are the benefits of PersonalLoans.com loans?

While there are many different benefits to using the PersonalLoans.com network, here are a few of our favorites:

  • Three loan types to choose from. With PersonalLoans.com, you may be able to choose a peer-to-peer loan, installment loan or a bank personal loan.
  • Access to multiple lenders. PersonalLoans.com allows you to submit your information to one system and potentially get an offer from a number of lenders who may be interested in providing your personal loan. This can save you time and energy, while giving you the opportunity to compare multiple lenders at once.
  • Easy process. For new borrowers, the process for requesting a personal loan can be completed in just three basic steps. Once it’s complete, your loan request will be matched against potential lenders to discover the right personal loan provider for you.

What should I look out for?

  • Possible payments twice a month. Your pay schedule will determine how frequently loan payments are due. While it might not change the total cost of your loan, it will impact how you budget for your loan.
  • Choice limited by network. Even the best loan connection services can’t to link you with every lender that’s out there. You should still take some time to compare your other loan options in addition to submitting your information with PersonalLoans.com.
  • It’s not a direct lender. This isn’t necessarily a bad thing, but it’s important to keep in mind that PersonalLoans.com is only a connection service. If you have any problems after you complete the process, reach out to your lender.

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Is PersonalLoans.com legit?

Yes. PersonalLoans.com legally operates as a connection service in almost every state. It is also a member of the Online Lenders Alliance (OLA), a trade organization that sets industry standards. While you’re submitting your information online, PersonalLoans.com uses industry-standard SSL encryption to protect your personal information.

However, you must agree to let PersonalLoans.com to share your information with its affiliate lenders. This is standard for connection services, but customers are sometimes unpleasantly surprised by phone calls and emails from lenders that can continue even after they found financing.

What does the Internet have to say about PersonalLoans.com?

The Better Business Bureau (BBB) and Trustpilot tell two different stories of PersonalLoans.com. It isn’t accredited with the BBB and has a failing grade because of the unanswered customer complaints and negative reviews.

It does somewhat better on Trustpilot, scoring an 8.3 out of 10 based on eight customer reviews. Around three-fourths of those reviewers also rated its services as excellent. Most customers seemed to be pleased with how quickly they got their funds and the quality of customer service.

Not everything is positive, however. One customer wrote that after they’d been denied for a loan they found through PersonalLoans.com, the lender reached out to them and asked for an upfront fee — which is a huge red flag. Two people filed a complaint about their credit score being affected by the loan request. In these cases it’s difficult to tell what happened because PersonalLoans.com didn’t respond and the soft credit pull it uses shouldn’t impact your credit score.

Because of this, you should do your own research on customer reviews and contact PersonalLoans.com to see how it handles its customer service. Take every positive and negative review with a grain of salt, and remember that if you don’t feel comfortable with a loan offer, you aren’t obligated to accept.

How much will it cost me?

Rates will vary based on the lender you borrow from. Because of this, you’ll want to carefully go over every offer before accepting one. Remember that you aren’t obligated to accept a loan if it doesn’t fit with your expectations.

After accepting a loan, you’ll be able to make repayments by electronic transfer. Some lenders may have other options, so if you want to pay differently, check with your lender’s terms.

How do request a loan?

Before you start the loan request, first make sure you meet PersonalLoans.com’s eligibility requirements. You might also want to have your personal information and documents on hand before you start.

Eligibility requirements

To submit a request to get connected with a lender, you must:

  • Have a 580+ credit score for installment loans or a bank personal loans or a 600+ credit score for peer-to-peer loans
  • Be a US citizen or a permanent resident
  • Be at least 18 years old
  • Have a valid bank account

You also can’t have any accounts that are more than 60 days overdue or any recent bankruptcies, debt that exceeds current income, or charged-off account activities in recent history.

How to get connected to a lender

  1. Click the Go to site button on this page.
  2. Enter your email address and hit Get Started.
  3. Fill out basic personal information and how much you’d like to borrow before hitting Continue to Step 2.
  4. Complete the form with more details on you and your employer. Read the privacy policy, terms and conditions and e-consent form before checking the box and hitting Submit Your Request.
  5. Wait for PersonalLoans.com to process your request. This could take a few minutes and shouldn’t affect your credit score. If you one of its lenders approves you, it’ll redirect you to a loan offer.
  6. Follow the lender’s directions to complete and sign your loan agreement.
  7. Wait for your funds to be disbursed.

I got a loan through PersonalLoans.com. Now what?

PersonalLoans.com won’t be able to help you much any more: You’re now in your lender’s hands. Do some research on your lender to see if they have any perks that you can take advantage of. For example, many offer a discounted interest rate if you sign up for autopay. If you notice any irregularities, reach out to your lender’s customer service as soon as possible.

More about PersonalLoans.com

PersonalLoans.com is owned by ArrowEagle LLC, which is also owns loan connection service SignatureLoan.com. ArrowEagle is registered as a limited liability company owned and chartered by the Ute Indian Tribe — meaning that it follows Ute tribal laws rather than US laws. It also means it isn’t regulated by the US government. Since it doesn’t provide you with loans, you aren’t necessarily at risk of getting high interest rates that are typical of tribal lenders and this generally shouldn’t affect your experience.

What you need to know about tribal lending

Bottom line

PersonalLoans.com is a great place to start when you don’t have time to compare lenders. With high maximum borrowing limits and a commitment to transparency in lending, PersonalLoans.com can help you to cover a number of life’s expenses. However, with mixed customer reviews and a possible high-cost loan, you’ll want to view your other personal loan options to see what else is out there.
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