Personify Financial personal loans review: No minimum credit score, but you might pay extremely high rates

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Personify charges APRs as high as 179.50% on its personal loans depending on the state you live in.

The bottom line: Personify Personal Loans is a solid option for borrowers who can’t qualify for loans elsewhere and has a variety of repayment term lengths. But it charges high maximum rates and doesn’t make loans in all states. Personify also charges an origination fee and a late payment penalty. 

Personify personal loans

You’re able to get a Personify installment loan in 25 states:

Alaska
Alabama
Arizona
Delaware
Florida
Georgia
Idaho
Indiana
Kansas
Kentucky
Louisiana
Michigan
Minnesota
Missouri
Mississippi
Montana
New Mexico
Ohio
Oklahoma
South Carolina
Tennessee
Texas
Utah
Washington
Wisconsin

Most states allow you to choose between a 12, 18, 24, 36 or 48-month term length. You can borrow between as little as $500 or as much as $15,000. Your APR will range from 19% to 179.50%.

However, borrowers in Georgia and South Carolina will find slightly different numbers:

State
Term length
Loan amount range
APR

Georgia
12, 18, 24, 36 or 48 months
$3,100 to $10,000
19% to 59.99%

South Carolina
12, 18, 24, or 36 months
$1,000 to $7,500
35% to 199.99%

Pros and cons of Personify personal loans
Pros

Fast funding. You may get your funds as soon as the next day if your application is approved and signed by you by 11:59 p.m CT. 

No minimum credit score. There’s no required credit score to get a Personify personal loan. That said, the lower your credit score, the more likely you are to get a high interest rate. 

Multiple options for repayment term length. You can choose between a 12, 18, 24, 36 or 48-month term length, allowing you to customize your payment schedule. 

Cons

Origination fee. In most states, you’ll pay a 5% origination fee, which …read more

Source:: Businessinsider

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