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Earnest Personal Loans

Upgrading Earnest Personal Loans

At Earnest, we are always working towards our mission—providing people with the financial capital they need to live better lives. We are best known for refinancing billions of dollars of student debt, and shaving many years off our clients’ loans. But, we are also there for short-term capital needs—from wedding loans, home renovations, medical loans, to debt consolidation.

Taking all our learnings from the last five years and the hundreds of thousands of applications that we have received, in 2019 we are refining our personal loans to create an even better way to borrow. 

What Does This Mean for You?

Today, we’re proud to announce lower rates for our personal lending product, with our best rates starting from 5.99% Annual Percentage Rate—a full 1% lower than our previous best rate. We are improving our rates across the board for all applicants (you can see our current personal loan rates here).

We continue to offer personal loans for a wide variety of purposes and believe that a fixed term, fixed rate loan is a better way to finance a large purchase, as opposed to taking on credit card debt. We also save our clients money by refinancing their existing credit card debt or high-interest rate loans to an affordable lower rate loan. 

How Are We Able to Offer Lower Rates?  

1) Improved Technology

We’ve made it far easier to apply for a loan with Earnest. We’ve refined and focused our application to just the most important questions, and reduced the need for additional documents to support your application. 

We have streamlined the application process to cut out the clutter. Completing the application takes approximately 15 minutes, and we can distribute funds within 2 business days after the loan is signed. By making our application more efficient, we are hoping to serve better rates to more people!  

2) Quicker Decisions

We’re always working to improve our decision making timeframes. As we learn from our data, we are able to automate our underwriting processes, leading to lower costs. As we improve the speed of our decisions, we are able to pass on our savings with better rates.

We started Earnest with the goal of seeing you as more than your FICO score, and continue to look beyond your credit score to make our decisions. We’ve seen our personal loans used by clients across the US to live their life with lower financial burdens. We’ve now served thousands of people helping them with engagements, weddings, relocations, home renovations, medical expenses, and debt consolidation. We are excited to be making improvements based on their feedback and our growing capabilities. 

☨Approval subject to loan qualification.  Actual rate will vary based on your assets and income. Fixed Rates range from 5.99% APR to 17.74% APR. Not all borrowers will qualify for our lowest rates, and your rate will be based on creditworthiness at time of application. Earnest rate ranges are current as of 8/8/2019, and are subject to change based on market conditions and borrower eligibility.  Terms and Conditions apply. Visit, e-mail us at [email protected], or call 888-601-2801 for more information on our personal loan product.

Disclaimer: This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.