Merrick Bank personal loan full review
Merrick Bank personal loan is built for you as it accepts a fair credit score and charges low fees. Check out the full review and see if it fits your needs!
by Aline Augusto
Merrick Bank personal loan
Getting a loan might be pretty difficult when you don’t have a perfect credit history. Merrick Bank features a personal loan that accepts credit scores as low as 580.
Also, the application process is pretty fast and simple, unlike other traditional loans in which you spend a lot of time waiting for approval and funding.
Plus, it charges reasonable rates considering the benefits you get from this loan.
Keep reading to learn all you need to know before applying for it!
|APR||From 27.99% to 35.99%|
|Loan Amounts||From $2,500 to up to $12,500|
|Credit Needed||At least fair credit score|
|Terms||From 3 to 36 months|
|Late Fee||Yes (see terms)|
|Early Payoff Penalty||None|
How does the Merrick Bank loan work?
Let’s get started with the application process. It is made to fit your needs perfectly. So, it requires your income, employment history, financial history, and recent credit behavior.
By sending this information to the Merrick Bank, it will reply to you with a loan built for you.
And you don’t need a perfect credit history to apply for it. If you have a fair credit score, you might be able to get the funds you want.
Also, you can get amounts starting at $2,500 to up to $12,500. And you can pay off from 3 to 36 months.
Furthermore, it doesn’t charge you with an early payoff penalty.
However, there is an origination fee and some other fees that apply. So, consider checking all terms and conditions before applying for it.
Merrick Bank personal loan benefits
The main benefit is the fact that it doesn’t require a perfect credit score for the application. Most of the banks recommend at least a good credit history to loan money. But Merrick Bank accepts applicants with low 580-credit punctuation.
Furthermore, the application process is really fast. So, you apply within minutes and receive your funds as soon as one day after getting approved.
On the other hand, it charges a quite high APR, origination, and late fees. So, before applying for it, pay attention to those fees in the terms and conditions.
- It accepts applicants with a fair credit score
- The application process is really simple and fast
- It charges a quite high APR
- It charges up to 5% origination fee
- Plus, it charges late fee
Should you apply for the Merrick Bank personal loan?
If you need funds quickly and don’t have enough credit score to apply for a loan from other banks, the Merrick personal loan might be an alternative for you.
Can anyone apply for a loan at Merrick Bank?
Everyone with a Social Security Number or tax identification number, a U.S. federal, state, or local government-issued ID, an income, a bank account, and over 18 years old can apply for this loan.
What credit score do you need for Merrick Bank?
You don’t need a perfect credit history to apply for it. It accepts credit scores as low as 580.
How to apply for a Merrick Bank loan?
If you need funds quickly for a personal reason and don’t have a perfect credit score, then learn how to get your Merrick Bank personal loan now!
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