Bankrate allows you to compare loans from top providers quickly and easily by consolidating loan offers and lender information all in one place. The company has been offering comparison services for over 40 years and is a trusted source for major news outlets and consumer reporting services.
Bankrate does not disperse funds for loans as the company’s services are designed to help borrowers compare loan rates and terms from multiple lenders to find the right loan for their needs.
Bankrate is not a direct lender, so the eligibility requirements for a loan will depend on the provider’s set terms. The Bankrate website has some information about eligibility requirements like minimum credit score, but it’s best to visit the website of any lender you’re considering to learn more about qualifying for a loan.
You can get pre-approved for a personal loan through one of the lenders Bankrate partners with using the Bankrate website. To learn which loans you prequalify for, all you have to do is provide a bit of personal information and you’ll get a list of personalized offers in minutes. This service won’t affect your credit score and is completely free.
You need to provide personal information that includes your name, phone number, email address, birthday, credit score, and social security number to see which loan offer you prequalify for. Bankrate also asks you to disclose your home address and zip code. The company will also need to know whether you rent or own your home and how much you pay for rent or for a mortgage every month. Some additional information you’ll need to supply includes the reason you want a loan, how much you want to borrow, and your annual income.
Loan application and approval processes vary from lender to lender. Since Bankrate is not a direct lender, you'll have to visit the website of any loan provider you’re considering to learn more about their application process. Bankrate’s services are intended to help you compare rates and terms from multiple lenders quickly and easily so you can find the best loan for your unique needs.
To start comparing loans, Bankrate will ask you to specify the amount you want to borrow and what you’ll be using the loan for. You’ll also have to provide your credit score, zip code, and annual income. Using this information, Bankrate will generate a list of available loans you may qualify for with basic information about rates and terms.
The Bankrate website allows you to compare rates and terms for many different types of personal loans. There are separate pages with comparisons for personal loans, personal loans for those with bad credit, debt consolidation loans, low-interest personal loans, installment loans, and home improvement loans. Along with providing rate comparisons for these different types of loans, Bankrate explains what each type of loan is and supplies reviews for all of its loan providers.
Terms for the loans on the Bankrate site are determined by the lenders and not by Bankrate. Terms will vary from lender to lender and it’s important to visit a loan provider’s website before making a final decision on any loan f. Some of the terms listed on the Bankrate website for quick comparison include APR, available loan amounts, and the minimum credit score required to qualify for a loan.
Personal loan interest rates currently range from about 6% to 36% but will vary based on the market and factors that include your credit score, debt-to-income ratio, and annual income. After entering your personal information on the Bankrate website to compare loans, you can view information about your estimated monthly payments, available repayment term periods, and the max amount offered by a particular lender. You can also get information on fees and autopay options.
You’ll have to direct any loan-specific questions to the loan servicer you choose after comparing rates as Bankrate is not a direct lender. If you have questions about Bankrate’s comparison services, there’s a form on the company’s website you can use to request to be contacted. Bankrate can also be reached via direct message on social media channels like Twitter, LinkedIn, Facebook, and Instagram.
Bankrate’s website is full of educational resources you can use to learn more about personal loans to help you make informed decisions. There are articles and other resources that explain the pros and cons of personal loans, the types of personal loans out there, and how to manage a personal loan. The site also features an FAQ section with answers to some of the most commonly asked questions about personal loan products.
