Reviews

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!

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by Victória Lourenço

Published on 05/04/2022

Lendful Personal Loan: fast and straightforward loans

Lendful Personal Loan review. Source: The Mister Finance.
Lendful Personal Loan review. Source: The Mister Finance.

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%.

*Terms apply.
Loan PurposePersonal.
Loan AmountsFrom $5,000 to $35,000.
Credit NeededMinimum score of 600 points.
TermsFrom 6 months to 5 years.
Origination FeeN/A.
Late Fee$50 NSF fee.
Early Payoff PenaltyNo early payoff penalties.
Lendful Personal Loan review

How to apply for Lendful Personal Loan?

Are you wondering how to apply for an outstanding loan with Lendful? If so, read our post and learn how to apply for a Lendful Personal Loan!

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How does the Lendful Personal Loan work and its benefits?

Learn all about the Lendful Personal Loan! Source: Unsplash
Learn all about the Lendful Personal Loan! Source: Unsplash

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.

Pros

  • 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.

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Cons

  • 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.

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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!

Lendful Personal Loan review

How to apply for Lendful Personal Loan?

Are you wondering how to apply for an outstanding loan with Lendful? If so, read our post and learn how to apply for a Lendful Personal Loan!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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