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Bankrate

Get funded fast after approval

APR: 5.20% - 35.99%
Loan Term: 12 - 120 months
Credit Score: Poor/Fair/Good/Excellent

Category Ratings

Personal#2
4.8

MoneyAtlas

Rating

Bankrate Personal Loans at a Glance

Key FeatureDetails
Platform Type Free comparison marketplace (Bankrate is not the lender)
Typical Loan Amounts $1,000 – $200,000 (varies by partner)
APR Range on Site 5.20% - 35.99%
Origination Fees 1% – 10% is common, set by the lender — Bankrate itself charges no fee
Soft-Pull Pre-qual? Yes, initial check never hurts your credit score
Funding Speed As soon as one business day for select online lenders; 2-5 days is more typical
BBB Profile A+ accredited (Dec. 2025)

How the Marketplace Works

  1. Quick Form & Soft Pull – Enter your loan amount, purpose, estimated credit band, and income; Bankrate pings its network with only a soft inquiry, protecting your score at this stage.
  2. Offer Comparison Page – Pre-qualified offers show APR, term, monthly payment, and any origination fee. Listings flagged “Advertising Disclosure” indicate that Bankrate receives compensation if you choose that lender, a point the site prominently calls out.
  3. Finish at the Lender – Clicking an offer shifts you to the provider’s site for a full application and hard credit check. Final rates may change based on verification of your income, debts, and credit.
  4. Funding – Online lenders such as Upgrade or LightStream can deposit funds in as little as 24 hours, while banks and credit unions may take up to a week.

Who Should Use Bankrate

  • Prime-credit borrowers (680-plus) who want to pit multiple lenders against each other for the best APR.
  • Rate shoppers who prefer a single soft inquiry over separate applications.
  • DIY researchers who value Bankrate’s calculators, methodology pages, and editor-reviewed guides.

Tips to Land the Best Offer via Bankrate

  1. Know your score and DTI before shopping; big jumps occur at the 660 and 720 FICO tiers.
  2. Compare at least three offers—focus on total cost (APR + origination fee), not just therate.
  3. Apply during business hours for the fastest same-day funding possibilities.
  4. Turn on autopay once approved; many lenders offer a 0.25% discount.
  5. Watch the clock: Pre-qualified terms often expire in 15-30 days.

Pros

  • Comprehensive comparison tools: Bankrate offers intuitive comparison tools that allow users to shop around for personal loans from multiple lenders easily

  • Wide range of loan options: Bankrate’s marketplace includes personal & business loans ranging from $1,000 to $200,000 with repayment terms of up to 120 months

  • Soft credit pull for prequalification: Bankrate’s platform allows users to check their loan eligibility and potential rates through a soft credit pull

Cons

  • Not a direct lender: Bankrate is a comparison site and doesn’t directly provide loans

  • Potential for misleading advertised rates: Some complaints suggest that the rates displayed on Bankrate may be significantly lower than what users actually qualify for

  • Limited direct customer support: As Bankrate is not a direct lender, users may face difficulties in reaching customer service for loan-specific issues

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