Lendful Personal Loan review: what you need to know before applying
Are you wondering if the Lendful loans are good for you? If so, read our Lendful Personal Loan review and learn more!
Lendful Personal Loan: fast and straightforward loans
When it comes to borrowing money, there are a lot of different options to choose from. You can get a loan from a bank or credit union or take out a personal loan from a company like Lendful. So, which is the right choice for you? In this post, we’ll take a closer look at Lendful personal loans and what you need to know before applying. Ready to learn more? Keep reading our Lendful Personal Loan review!
|APR*||From 10.78% to 22.48%.|
|Loan Amounts||From $5,000 to $35,000.|
|Credit Needed||Minimum score of 600 points.|
|Terms||From 6 months to 5 years.|
|Late Fee||$50 NSF fee.|
|Early Payoff Penalty||No early payoff penalties.|
How does the Lendful Personal Loan work and its benefits?
With a Lendful personal loan, you can borrow anywhere between $5,000 and $35,000 in loan amounts. In addition, you will have repayment terms ranging from six months to five years to complete your loan repayment. Also, you can apply for this loan without having your credit score negatively affected. Moreover, you may be able to receive your money within one business day if you are fortunate enough.
However, you need to fit the eligibility requirements to apply. Examples include being at least 19 years old and having a minimum required score to qualify. You must also be a permanent resident of Canada to apply. Furthermore, you can take advantage of favorable early payment payoff options.
Even though this loan has some incredible advantages to offer, there are some disadvantages as well. For example, if you have a low credit score, you will be unable to obtain a loan opportunity. As a result, take a look at our list of the advantages and disadvantages of borrowing money from this lender in our Lendful Personal Loan review.
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- Loans from $5,000 to $35,000
- There are no penalties for early payoff options.
- You can apply for more money anytime, even if you are still paying a current loan.
- There can be some relatively high fees to this lender.
- Your late payments will show on your credit report.
What credit score do you need for Lendful Personal Loan?
Unfortunately, if you have a bad credit score, you may not be able to apply for a loan with this lender because of your credit score. In addition, you must have a credit score of at least 600 to be considered for the position. Moreover, you won’t have to be concerned about your score because it will not be affected during the application process.
How to apply for Lendful Personal Loan?
The application process to get a Lendful personal loan can be very easy and quick. Also, you can get your response and loan within only one business day after the loan acceptance! Therefore, check out our post below to know all the details about how to apply!
About the author / Victória Lourenço
Reviewed by / Aline Barbosa
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