Once approved for an unsecured loan, you’ll make monthly payments to pay it back in full, plus interest. The loan terms and interest rate vary based on the lender and your credit.

Each lender has their own set requirements to qualify for a personal loan. A hard inquiry can impact your credit score by two to nine points, but typically by no more than five.

Each lender has their own set requirements to qualify for a personal loan.

Many lenders also have minimum credit score requirements for credit approval.

The upper limits for personal loans vary by lender but typically fall in the $35,000 to $50,000 range.

Using DEC Lending to check your rates doesn’t affect your credit score. Here’s how it works: DEC Lending’s prequalification process uses a soft credit inquiry that requires you having to apply for a loan.

You’ll be asked to authorize a hard credit inquiry when you apply for the loan. A hard inquiry can impact your credit score by two to nine points, but typically by no more than five.
What rate should I expect and how can I get the best rate?

Some lenders even offer an autopay discount if you authorize your monthly loan payments to be directly withdrawn from your bank account.

Qualifying for the lowest rates offered by a lender is dependent on your online application, credit approval and score, loan terms, and other factors.

Once you’ve completed the loan application process, most lenders can fund your loan by the next business day (though it can take up to about a week, depending on the lender and your application).

Yes. In fact, personal loans offer many debt consolidation benefits.

Many credit cards also carry variable rates, which can cause the amount you pay in interest to fluctuate as rates change.

You’re typically not limited in how you can use your personal loan funds. Personal loans can be used to pay down high-interest credit card debt, meet unexpected needs like medical bills, take care of a major purchase like a new refrigerator, or fund home improvement projects. However, some lenders only provide loans for specific purposes (and some rates vary based on what you use it for), so you will be asked for the purpose of your loan.

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