- 24/7 Services: BadCreditLoans is available all day, every day, to help you find the best emergency loans.
Unlike the typical online lender that provides emergency loans for bad credit, PersonalLoans offers more than payday loans and other high-interest loans. For example, through PersonalLoans, you can access a personal loan. Most personal loans are unsecured installment loans.
Personal loans typically come with more favorable interest rates and terms. Even better, you can spend personal loans any way you want. Lastly, using PersonalLoans to find a lender and get loan offers is free.
Loan Amounts Available
The minimum loan amount that you can access via PersonalLoans is $1,000. If you need more, the platform can help you find a lender that offers up to $35,000. Your loan’s annual percentage rates and fees will depend on the amount you borrow and the online lender you choose. If you accept a loan offer, the lender can deposit the loan sum in your checking account within one business day.
Eligibility Requirements
PersonalLoans has a simple online form that you can quickly fill to start receiving loan offers. The lenders in PersonalLoans’ network will use the information in your submitted form to determine your eligibility for a personal loan. The lenders will also use the information to determine the annual percentage rate to offer with your loan.
- A valid ID and Social Security number
- Regular income and a checking account
- U.S. citizenship or permanent residency
If you want the best personal loans with the most attractive terms, you may need to improve your credit score first.
Other Key Features of the Lender
- Competitive Rates: PersonalLoans connects borrowers to lenders that offer some of the most attractive interest rates for personal loans.
- Low Cost: Both your interest rate and fees will determine the cost of getting a loan. PersonalLoans reduces your loan expenses by charging zero fees to help you find a personal loan lender.
- Fast Services: PersonalLoans can connect you with personal loan lenders within minutes of receiving your loan request form. Even better, after receiving loan approval, the loaned sum can be in your bank account by the next business day.
- Security: PersonalLoans is available 24/7 and uses state-of-the-art data encryption technology to protect customer data.
What Are Emergency Loans and How Do They Work?
Emergency loans are loans that you can quickly get from a lender. You may urgently need the loan to settle a debt or an unexpected expense. Unlike traditional lenders that may take weeks to approve a loan request, emergency lenders can deposit the requested loan in your bank account within one to two days of receiving your application.
An emergency loan may be either an unsecured loan or a secured loan. Secured loans require providing collateral before the lender can give the loan amount. The collateral’s value must equal or exceed the requested loan amount.
Unsecured loans do not require collateral. Since borrowers don’t have to go through a collateral verification process, they can access unsecured loans in less time. However, unsecured loans typically come with higher interest rates. Since they are a higher risk to the lender, they usually also require a better credit rating.
Note that if you want a high loan amount ($20,000 to $100,000), you should seek a secured or unsecured personal loan. If you opt for a secured loan to avoid high interest rates, your collateral could be payday loans in Kent OH your home, stocks, or other high-value assets you own. However, if you will be able to get your desired loan amount will depend on the lender and your credit rating.