When you need money, the last thing you want to do is spend a lot of time standing in line at a bank. That’s why so many people are now choosing to apply for personal loans online. It’s quick, easy, and can be done from the comfort of your own home.
Why Select Loans General?
Loans General will give you the information you need to be prepared before applying for a personal loan online. It can be done in a matter of a few steps. Simply input the loan amount you want, and we’ll try to connect you with the best personal loans or payday loans that we can find regardless of what your credit score is. If you’re approved, you’ll be able to sign your loan documents electronically and have the funds deposited directly into your account. It’s that easy!
Signing up on our site is better than going to the bank or credit union due to the time you save alone! A personal loan can help with medical bills, starting a business, and debt consolidation, so whatever your reason for a loan is, it can help with your unique situation.
What Can I use Personal Loans For?
Personal loans are often used to cover gargantuan expenses such as weddings, funerals, vacations, surprise medical bills, and home repairs. The possibilities are endless, and one of the best parts is that if you are approved for a loan agreement, the money could be deposited into your checking or savings account as soon as the next business day!
What’s The Maximum Loan Amount?
Personal loans can range from a couple hundred dollars to upwards of $35,000. The amount you’re approved for depends on your creditworthiness, the lender you are matched with, and how much money you need.
To apply for a personal loan, simply fill out our online application. We’ll ask for some basic information about you and your financial situation like your employment information, how much money you need, and how much you need.
If you’re approved for a personal loan, the lender sends the money directly to your checking or savings account. You can then use the money however you see fit! Whether you need credit card consolidation or to consolidate other existing debt, pay off unexpected bills, or make a large purchase, a personal loan can be a great option.
So, if you’re ready to apply for a personal loan online, head over to our online application and get started today! We look forward to helping you reach your financial goals.
Before You Apply for a Personal Loan Online
You understand your money best. You are also in control of your budget.
Try utilizing a personal loan calculator before applying. You will have an exact number in mind before applying knowing what you can afford to borrow. Payday loans are an option but are often limited in the amount you can borrow.
Keep in mind Loans General cannot guarantee any loans, but all loan applications are subject to credit review. Offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history, and other factors.
Debt Consolidation for Personal Loans
As mentioned above some individuals use personal loans for debt consolidation. The benefit of debt consolidation is it helps borrowers who have several high-interest loans.
Debt consolidation is the process of combining multiple debts into a single loan with a lower interest rate. This can be an effective way to reduce your monthly payments, as well as the total amount of interest you pay over the life of the loan. There are two main types of debt consolidation loans: secured and unsecured.
Personal Loan Applicant Requirements
Applying for a personal loan online can be simple, but first, you want to make sure you meet these requirements below:
- Be 18 years old and older
- Have an active checking account
- Earn consistent income
- Have a valid government-issued ID
Please Note: After you sign up this is not a soft credit check.
Credit Score & Bank Account
Your credit reports will be run and what you have in your credit history can affect your chances of qualifying for a personal loan.
As you make a monthly payment on time, the amount of each payment goes toward reducing that account balance which will help over credit score over time. If you are approved the money goes straight to your bank account in a short period.
Personal Loans Online
When it comes to personal loans they usually allow for a larger amount to be borrowed compared to a payday loan.
If you are approved and sign the loan agreement you could be on your way to handling your finances like a boss. You understand your money the best and you know your habits.
The online lenders we work with will give you options. The best part about the online application process is the convenience. Meaning you will not solely get one interest rate on one loan if you approved.
Your monthly payments will be shown to you if approved, so you can make decisions that best benefit you. If you are approved for the personal loan you can use it for debt consolidation. The best part about signing up with our online lenders is no secured loan requires you to provide collateral, such as a motor vehicle, while an unsecured loan doesn’t require any collateral at all.
Precaution to Predatory Personal Loan Scams Online
Look out for these signs to avoid falling victim:
-A monthly payment is not provided to you after you apply
-Claiming your credit report will not be pulled
-Zero percent interest rates are offered if they get access to your bank account
-The loan terms are guaranteed by the lender.
-The fixed interest rate will fluctuate with a hidden origination fee
With the information we have armed you with you will not fall victim to these scams. Now you know how to apply for a personal loan online and the precautions to take!
Applying for a personal loan can help ease your financial burdens. Be sure to sign up with us to see if you could qualify today. Personal loans online are convenient and save precious time one cannot get back once used.
Avoid making the mistake that most people make of going to a bank or credit union. Only to be offered one interest rate from the financial institutions.
Frequently Asked Questions About Personal Loans
Can you apply for a personal loan online?
Yes, you can apply for a personal loan online. The process is simple, and it only takes a few minutes to complete when you have the proper documentation prepared to sign up at Loans General.
Is it better to go apply online or in person for a personal loan?
It is better to apply for a personal loan online. Applying online is more convenient and saves time. Additionally, you might be able to get a lower interest rate if you apply online.
How long does it take to get approved for a personal loan online?
The approval process for a personal loan can vary depending on the online lender. Most secured loans require collateral, yet the best part about signing up with Loans General is none of the online lenders we work with require collateral!
Can I still apply for a personal loan online with bad credit?
There are still options available for those with bad credit to apply for a personal loan. Some lenders specialize in loans for people with bad credit. However, the interest rates on these loans will be higher than for someone with good credit.
What’s the difference between a personal loan and a personal line of credit?
A personal loan is a set amount of money that you receive all at once and repay with interest over time. A personal line of credit is similar to a credit card in that you can borrow against it as needed, up to your limit, and pay it back over time.
What’s the difference between a personal loan and a debt consolidation loan?
A debt consolidation loan is a type of personal loan that you can use to pay off other debts, such as credit card debt. The benefit of a debt consolidation loan is that it usually has a lower interest rate than the interest rates on your other debts.
What’s the difference between a personal loan and a home equity loan?
Online personal loans are unsecured, meaning they don’t require collateral. Home equity loans are secured by your home, so if you can’t make your payments, the lender could foreclose on your home.