Personify Financial Personal Loans Review


Personify Financial

While the money from Personify Financial is expensive, the company signals relaxed approval requirements by looking at more than just your credit score.

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Personify Financial
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Our Two Cents — If you have good to great credit, you can find cheaper personal loans elsewhere. However, if approval is a concern, you may have a much better chance of getting the money you need with Personify Financial.

For many people looking for bad credit loans, it can be a challenge finding a lender that’s even willing to hear you out. Often decisions are made by computers and on rigid requirement scales. Personify Financial personal loans aim to be different. The company looks at things like work history, income stability and your overall ability to pay when processing your application. While the Personify Financial personal loan rates are expensive, it may be one of the few lenders willing to help.

Personify Financial at a glance

Lender Loan Amount APR Range Terms Key Benefit
Personify Financial $500 – $10,000 35.00% – 199.99% 9 – 36 months Funding available in 24 hours

*Rates accurate as of June 24, 2020

Check Your Personal Loan Rates

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.


What we like about it

Personify Financial’s biggest pro is the company is willing to look at more than just your credit score when making a personal loan application decision. The company does not lay out clear-cut approval criteria because it looks at you as more than just a number.

Additionally, the company gives you up to three years to repay the money you borrow. While this is shorter than some of the other top personal loan companies, it is longer than many lenders that deal with people with less-than-great credit. Any time you get more flexibility in how you can repay, it’s a win.

Things to consider

Bottom line upfront — Personify Financial personal loans are expensive. Rates will vary based on the state you are in, but the lowest APR rate currently offered anywhere is 35.00%. In some states, rates top out at 179.99%. The exact rate you pay will depend on your loan factors and personal financial situation. Regardless, though, even the best rate offered is expensive when compared to the rest of the industry.

The company is also fairly new in the grand scheme of lending. To date, the company has processed somewhere north of 60,000 loans. While this may sound like a lot, it pales in comparison when compared to a company like

What you need to know

As mentioned, the personal loan rates through Personify Financial are high. Rates and repayment terms vary by state but range from as low as 35.00% APR up to as high as 179.99% APR. Repayment terms are available in 9, 12, 18, 24 or 36 months. Loan amounts also vary by state. The lowest available is $500, and the highest available is $10,000. In many states, the company also charges a 5% origination fee on all loans.

A positive about Personify Financial is how easy it is to apply for a loan and how quickly you can get funded. All loans can be applied for online or over the phone, with funds available in many cases within one business day.

1. Collect the necessary information to apply. For Personify Financial, you need proof of a source of income, your checking account information and your basic personal information. If you do not have a checking account, you will need to open one before applying.

2. Fill out the online application. The application only takes minutes, and you’ll have already collected the necessary information in step one.

3. Accept your loan terms. Once you’ve filled out the application and been approved, it’s time to accept your loan terms. When this is complete, Personify Financial will dispatch the funds within 24 hours.

Collateral and criteria

All personal loans through Personify Financial are unsecured personal loans, meaning that you don’t have to put up any collateral like your house or your car to get a loan. Currently, secured loans are not available through the company.

While Personify Financial does not outline specific eligibility criteria, the company makes it clear it’s willing to work with people with less-than-great credit. As long as you have a source of income and a checking account, you are eligible to apply for a personal loan.

Personify Financial vs. SoFi

With , the maximum APR you can be charged is lower than the minimum APR you’ll be charged through Personify Financial, making them wildly less expensive. Additionally, SoFi does not charge an origination fee on loans. If you’re someone with good enough credit to get approval at SoFi, you can save significantly. The loan amount range at SoFi is much higher on both ends, with the minimum at $5,000 and the maximum at $100,000. If you’re looking for a smaller loan, SoFi might not be the right fit. Ultimately, people with good to great credit might be happier with SoFi, while people with less-than-great or no credit will have more success at Personify Financial.

Personify Financial vs. Prosper

Rates at Prosper do come in lower than Personify Financial but higher than SoFi. Rates range from 7.95% to 35.99%. Repayment terms are also considerably longer and less flexible, with your only options being three or five years. Loans are available from $2,000 to $40,000, with funds made available within a few days. Ideally, you should check with Prosper before taking a loan with Personify Financial. If you’re able to get approval, you should be able to save. But if you aren’t, Personify Financial still might be willing to work with you.

Check Your Personal Loan Rates

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

Too long, didn’t read?

Overall, Personify Financial personal loans are expensive. However, the company’s willingness to look beyond credit scores for approval may be a welcomed sign for people with less-than-great or bad credit. The company does let you apply online in minutes without a hit to your credit if you’re curious about what you can and can’t be approved for.

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