PERSONAL LOANS

Next steps for Earnest personal loans

In order to better serve the education financing needs of our clients, we’re currently updating our personal loan offering. If you have a question about an existing Earnest personal loan, you can visit our Help Center or contact our Client Happiness team for support.

An experience designed for savings & satisfaction at every step

1

Fair Application

We evaluate data beyond your credit score, like savings habits, education, and earning potential. This helps build a better picture of your financial profile so we can offer you the lowest possible rate.
2

Quick Decision

You will receive a prompt response to your personal loan application. Read our eligibility guide for more on how we evaluate your application.

3

Human Service

You’ll always reach a real human, whether you’re seeking answers by email or phone.

People use our personal loans for life's biggest moments

It happens. Sometimes major life expenses exceed the amount of savings you have available. So from refinancing high-interest credit card debt to paying for engagement rings, renovations, weddings and more, personal loans can help you afford the memories and milestones than make life so amazing.

Preview Your Personal Loan Options

The chart below displays the range of loan options for APR (annual percentage rate), monthly payments, and total payments based on a hypothetical $10,000 loan amount. Your own interest rate will depend on the term you choose, as well as your financial profile. Visit our eligibility page to see our eligibility criteria for personal loans.

Origination Fee
None
Rate (Fixed APR)
5.99% - 13.74%
No. of Payments
36
Monthly Payment
$304 - $341
Total Payments
$10,950 - $12,259
Origination Fee
None
Rate (Fixed APR)
6.49% - 15.74%
No. of Payments
48
Monthly Payment
$237 - $282
Total Payments
$11,381 - $13,540
Origination Fee
None
Rate (Fixed APR)
7.24% - 17.24%
No. of Payments
60
Monthly Payment
$199 - $250
Total Payments
$11,949 - $14,989
Term Origination Fee Rate (Fixed APR) No. of Payments Monthly Payment Total Payments
3 Years None 5.99% - 13.74% 36 $304 - $341 $10,950 - $12,259
4 Years None 6.49% - 15.74% 48 $237 - $282 $11,381 - $13,540
5 Years None 7.24% - 17.24% 60 $199 - $250 $11,949 - $14,989

Common questions about personal loans

How do personal loans work?

Simply put, a personal loan lets people borrow money for a set timeframe (known as the loan term), and pay it back in even monthly payments. It is an unsecured loan, meaning there is no asset/property that can be reclaimed by the lender (as with a mortgage or car loan). Unlike some loans that take into account down payments or collateral, a personal loan’s APR (annual percentage rate) is based solely on the borrower’s credit history. Some services like Credit Karma now allow you to check your credit report for free prior to applying for a loan, without affecting your credit score.

Simply put, a personal loan lets people borrow money for a set timeframe (known as the loan term), and pay it back in even monthly payments. It is an unsecured loan, meaning there is no asset/property that can be reclaimed by the lender (as with a mortgage or car loan).

Unlike some loans that take into account down payments or collateral, a personal loan’s APR (annual percentage rate) is based solely on the borrower’s credit history. Some services like Credit Karma now allow you to check your credit report for free prior to applying for a loan, without affecting your credit score.

How soon can I expect a decision?

We are able to make a decision on most personal loan applications within 5-10 business days. This timeline can vary depending on what additional information is required to process your request. Please keep an eye on the email address associated with your account for updates.

We are able to make a decision on most personal loan applications within 5-10 business days. This timeline can vary depending on what additional information is required to process your request. Please keep an eye on the email address associated with your account for updates.

How soon will I receive my personal loan?

Once you accept and enter your bank account details, we will transfer the funds by the next business day. You will usually see the loan transfer into your account within 1-2 business days after signing.

Once you accept and enter your bank account details, we will transfer the funds by the next business day. You will usually see the loan transfer into your account within 1-2 business days after signing.

Can I change my requested personal loan amount?

We can consider approving your loan at a lower amount if you modify your application prior to our decision. Contact our Client Happiness team via email, chat, or phone to request this change or adjust the request by logging in to your Earnest account.

We can consider approving your loan at a lower amount if you modify your application prior to our decision. Contact our Client Happiness team via email, chat, or phone to request this change or adjust the request by logging in to your Earnest account.

The Earnest Blog

Learn financial fundamentals from these articles and more

Get acquainted with personal loans

We’ve put together a library of essential articles to help you understand personal loans. And keep an eye out—we’re always adding more.

Learn more about our other products

Private Student Loans

Apply on your phone, get set for next semester. Variable rates start at 2.74% APR with autopay.

Learn more

Student loan Refinancing

Get one simple payment that fits your budget. Variable rates start at 3.50% APR with Auto Pay.

Learn more