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RocketLoans personal loans review

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A fast personal loan with fair rates but potentially high fees.

finder.com’s rating: 3.85 / 5.0


  • Best for borrowers with decent credit looking for same-day funding.
  • Pick something else if you want to avoid an origination fee.


Max. Loan Amount

7.16% to 29.99%



Min. Credit Score


Product NameRocketLoans personal loans
Min. Loan Amount$2,000
Max. Loan Amount$45,000
APR7.16% to 29.99%
Interest Rate TypeFixed
Min. Credit Score640
Origination Fee1% to 6%
Late Fee$15
Minimum Loan Term3 years
Maximum Loan Term5 years
Turnaround TimeAs soon as the same day

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She likes to go to the movies and go for runs outdoors.

Expert review

RocketLoans is ideal for borrowers with decent credit who are looking for fast funding. Depending on what time you submit your application, you might be able to get your funds the same day you apply.

You can check what rates and terms you might qualify for without affecting your credit. And its customer service team gets rave reviews.

But if you don’t want to get hit with an origination fee of up to 6%, you’ll need to look elsewhere. You also could face an APR as high as 29.99% if you just meet its minimum credit score requirement of 640.

Not sure RocketLoans is right for you? Compare your other options below.

First, am I eligible?

You must meet the following eligibility criteria to apply with RocketLoans:

  • Age 18+
  • Valid bank account
  • US citizen or permanent resident
  • At least two years of credit history
  • Credit score of 640+
  • Annual income of $24,000+


  • Check rate without affecting your credit score
  • Same-day funding for loans under $25,000
  • Friendly customer service with great reviews


  • Origination fee of 1% to 6%
  • Semi-strict credit and income requirements
  • Potentially high APR

Compare other personal loan providers

Updated January 22nd, 2020
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible Personal Loans
3.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Fiona Personal Loans
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
Upgrade Personal Loans*
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.
Even Financial Personal Loans
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
NetCredit Personal Loans
34% to 155% (Varies by state)
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
Monevo Personal Loans
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
PenFed Credit Union Personal Loans
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
LendingClub Personal Loan
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
SoFi Personal Loan Fixed Rate (with Autopay)
5.99% to 20.01%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

What do customers have to say about RocketLoans?

BBB accreditedYes
BBB ratingA+
BBB customer reviews5 out of 5 stars, based on 138 customer reviews
Trustpilot score4.8 out of 5, based on 3,038 customer reviews
Customer reviews verified as of24 December 2019

The majority of reviews are positive, but lack much detail. Customers are happy with the quick speed and good customer service, but a few were disappointed that they went through the entire application process only to receive a rejection in the final stages.

How do I apply?

To get started with your loan application online, follow these steps:

  1. Go to RocketLoans and click See my options.
  2. Select the purpose of your loan and enter information about yourself and your employment.
  3. Review RocketLoans’ disclosures.
  4. Click See My Options to submit your application.

What information do I need to apply?

You will need a few basic details to apply for a personal loan from RocketLoans:

  • Date of birth
  • Social Security number
  • Annual income

What happens after I apply?

If you’re eligible for a loan, you’ll see the rates you qualify for. At this point, you’ll provide supporting documentation to verify your personal and financial information. Depending on when you submit your application, you may be able to receive your funds the same day you apply.

How do repayments work with RocketLoans?

RocketLoans’ personal loans come with monthly repayments made over three to five years — depending on the term laid out in your loan documents. You might want to sign up for automatic payments to avoid its $15 late fee, which it charges if it doesn’t receive your payment within 10 calendar days of your due date.

If you have any questions or are worried you might miss a repayment, contact RocketLoan’s customer service team by email, phone or live chat during business hours.

See how RocketLoans compares to other lenders with our guide to personal loans.

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.

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