Bankrate
MoneyAtlas
Rating
Rates From 6.49% APR — Compare The Top Lenders In One Easy Search!
Bankrate Personal Loans at a Glance
How the Marketplace Works
- 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.
- Offer Comparison Page – Pre-qualified offers show APR, term, monthly payment and any origination fee. Listings flagged “Advertising Disclosure” indicate Bankrate receives compensation if you choose that lender, a point the site calls out prominently.
- 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.
- 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.
Regulatory & Risk Check
- Advance-fee loan scams: The CFPB warns never to pay upfront fees for “guaranteed” approval— a scam still common online.
- Bankrate’s stance: Its advertiser disclosure explicitly states lenders pay only after consumers take action, not beforehand, helping reduce scam risk.
- State Licensing: Each partner lender must hold proper licenses; Bankrate publishes state-specific disclaimers where required (look for the fine print under each lender card).
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
- Know your score and DTI before shopping; big jumps occur at the 660 and 720 FICO tiers.
- Compare at least three offers— focus on total cost (APR + origination fee), not just rate.
- Apply during business hours for fastest same-day funding possibilities.
- Turn on autopay once approved; many lenders knock 0.25% off for it.
- 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