Testimonials reflect the individual’s opinion and may not be illustrative of all individual experiences with OppLoans.
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Use our easy online application process to see if you qualify for a more affordable5 personal loans. Experience top-rated customer service3. We treat our customers like family!
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OppLoans Personal Loans
A typical personal loan is a type of installment loan with a fixed interest rate and set repayment terms. Personal loans offered through OppLoans have flexible terms and don’t require collateral like your car or your paycheck.
Common Personal Loans Questions
How do personal loans work?
Financial institutions such as banks, credit unions, and online lenders issue personal loans. A typical personal loans will have terms and conditions that will establish the time period for loan repayment, the interest rate, and the monthly payment amount.
Every lender has different qualifications it uses to determine creditworthiness. Lenders assess your credit history, credit score, and income during the application process to decide whether or not you qualify for a loan. Approval times and loan amounts vary depending on the lender.
Can I get a personal loan for debt consolidation?
Personal loans can be used for debt consolidation for debts such as credit cards, medical bills, and payday loans. Debt consolidation loans may give you lower loan payments so you can pay off debts faster and streamline payments.
Learn more about Personal Loans
If you’re facing a financial emergency, you may be thinking about borrowing money.
Taking out a personal loan can be a serious decision and it’s always best to have answers to your questions before taking out a personal loan. For useful personal loans information, check out this article from the OppU blog:
OppLoans Offers Bad Credit Personal Loans
Do you need money now? If you need a personal loan to help get you through a financial emergency, but can’t get a personal loan through a traditional bank and credit union because of bad credit, there are other options.
Bad credit loans are available from reputable online lenders. If you do your research, ask the right questions and make sure you’re only borrowing what you can afford to repay, you can find the right bad credit loan for you.
Common Bad Credit Loan Questions
What will my interest rate be?
The rates and terms for personal loans and credit products through OppLoans vary state-by-state. You can check out the specific rates and terms in your state here.
The typical cost of a personal loan through OppLoans is 160% APR in most states and terms can last up to 18 months.
Compared to products like payday loans5, OppLoans products may fit your repayment needs better, can help you build credit history6.
How much loan do I qualify for?
Depending on your state and your income, you may qualify for between $500 and $4,000.
The amount you may be eligible for will depend on your state of residence, your income and ability to repay, and your creditworthiness.
For more information about the product options and lender(s) in your state, please visit our Rates and Terms page.
Getting a No Credit Check Loan at OppLoans
So how can you borrow money without a credit check? You might find yourself considering a no FICO credit check loan. A no credit check loan could be one of several different products, and some are better than others, so you’ll want to do your research before signing any contract.
- employment status
- income details
- bank account
- financial history
Common No Credit Check Loan Questions
Do you look at my credit score?
Applying for a personal loan through OppLoans does NOT affect your FICO® score. Why not? Because, while OppLoans may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness, neither credit inquiry will appear as a hard credit inquiry on your Experian credit report and therefore they will not affect your FICO score.
What is a no credit check loan?
A no FICO credit check loan is typically a type of loan in which a lender determines the “creditworthiness” of a potential borrower without conducting a hard FICO credit check.
This can be appealing to potential borrowers who are concerned about the condition of their bad credit or credit history. A “no credit check loan” may seem like a good fast cash option but there are always risks. Educating yourself is the best way to make the right borrowing decision for you.
How is a no credit check loan different from a payday loans5?
Payday loans are short term, high cost loans. OppLoans installment loans come with longer terms, lower rates, and higher principals.
Here’s a quick snapshot to explain the differences:
|Loan amount||$500 – $4,000||$100 – $1,000|
|APR||160% in most states||400%|
|Term||Up to 18 months in most states||14 days|
|Ability to build credit history6||√||X|
What are Installment Loans?
An installment loan is an agreement between a borrower and lender. The borrower takes out a loan (say $1,000) and agrees to repay it, plus interest, in installments over time.
If you need money now, an online installment loan through the OppLoans Platform could be a solution for you. With OppLoans online personal installment loans, you might be able to get between $500 to $4,000 delivered into your bank account as soon as the next business day.1
Common Installment Loan Questions
Are Installment Loans good?
An installment loan from BBB-accredited lender with high customer ratings like OppLoans, could be a payday loan alternative for you. Always do your research and make sure you can actually afford the loan being offered.
Are installment Loans secured or unsecured?
OppLoans installment loans are not secured. You don’t need to risk your next paycheck or your car title. Check out our financial terms glossary for more on the difference between secured and unsecured loans.
How many installment loans can you have?
With OppLoans, you can take out one installment loan at a time. However, at the end of your term, you may be able to refinance your loan. If you are eligible to refinance, you will see a “Refinance Now” option in your customer portal.
Learn more about Installment Loans
If you’re considering borrowing money online, an installment loan may be a product that can help you. But not all installment loans are the same and, as with other major financial decisions, it pays to be informed! Check out this relevant post from the OppU blog: