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Get Personal Loans Online | 123 Money Loans

What Is A Personal Loan?

A Personal Loan is a simple, secure type of financing designed to help people cover any personal need, from home repairs or car purchases to honeymoon expenses. Most of the time, a Personal Loan is unsecured, which means you don’t have to provide collateral for your funding application to be approved.
Most often, personal lenders provide loans ranging from $1,000 to $100,000, which is often enough to cover any personal need. The terms of debt repayment can vary, but most often they are 12, 24, 36, 48 or 60 (depending on the amount of the loan).

How Does A Personal Loan Work?

  1. Personal Loan is extremely easy to use. Moreover, now more and more lenders offer a simple and convenient online application, which means you do not have to go to the lender’s store and fill out a lot of paperwork. The entire process from applying to receiving funding is fully available online. So how does an online Personal Loan work?
    1. Choose a lender. Of course, in order to get the best loan offer, you should compare different options in your state of residence. In this way, you will be able to study the commission interest rates charged by lenders and choose the best offer for you.
    2. Fill the form. Once you have chosen a lender, you will need to visit their website and fill out a simple and easy online application. Most often, you will need to provide information about yourself such as name, address, income, contact details, etc. Make sure all of your information is correct or you may be disqualified, then submit the form.
    3. Wait for approval. Most often, personal lenders approve funding applications within one to two days, but sometimes it can take longer. If you meet all the eligibility criteria, then your application will be approved and the lender will contact you to discuss loan terms and debt repayment terms. You will also be able to ask all your questions before signing the contract.
    4. Get funding. If you are satisfied with the terms of the loan, you can sign a contract and receive financing. As a rule, the loan amount will be available in your bank account within one to two business days. Then you can dispose of the received money at your discretion. However, it is important to remember that you will need to make timely monthly debt payments in order to avoid additional fees and charges.
Fill out a simple form to get your money - it takes only a few minutes.


Online Personal Loan Eligibility Criteria

In order to receive an online Personal Loan, you will need to meet certain eligibility criteria of the selected lender. Although they may differ depending on the state of residence and the lender you have chosen, the main ones remain the same. You can take a look below:

  • Be at least 18 years of age or older
  • Be a US citizen or official resident
  • Have a regular monthly source of income and be able to verify it
  • Have an active bank account for deposits
  • Have a government-issued ID
  • Provide a social security number
  • Provide contact details such as phone and email

If you meet all of the above criteria, your chances of getting an online Personal Loan are quite high.

How Much Does A Personal Loan Online Cost?

The cost of a Personal Loan will vary depending on your credit history. Accordingly, the better your credit history the more favorable interest rate you will receive. In the event that the mutton missed payment had problems with you for a long time, most likely the lender means you are not the most trustworthy borrower and will provide higher interest rates.
Most often, Personal Loan interest rates can range from 6% to 36%. Also, do not forget that some lenders also charge additional fees and charges, such as an early repayment fee, prepayment penalty, origination fee and others. That is why it is important to compare different loan offers in order to choose the lender that has the minimum amount of additional fees and charges.

Personal Loan Calculator

Monthly Payment = $522 per month for 0.17 year(s) at 35% APR

* It’s the amount of money you’ll need to pay every month (or other agreed period) according to your repayment plan.

Total Paid After 2 Months = $1,044

Total Interest Paid* = $44

* The total amount of interest over all the period of the personal loan.

This calculation is just a representative example. Rates and fees can vary depending on the lender. Check all the finance charges in the loan agreement before signing it

How to apply for a bad credit personal loan?

In order to make it convenient for each client, our site has simplified the submission process as much as possible. Follow three easy steps and get a payday loan!

  • Complete an application for a personal payday loan. It won’t take a lot of time – in a few minutes the application will be submitted.
  • Wait a little. Our staff needs to review your application and find out if you meet our requirements. After confirming the application, the lender will contact you directly within a few minutes.
  • Time to get paid! After talking with the lender, who can explain the terms of the loan and answer all your questions, you will be able to receive a payment. The money will be transferred to your account the next business day.

Benefits of working with 123 Money Personal Loans:

  • No credit check. Working with us. you don’t need to think that your credit history is not perfect.
  • Fixed payments. Monthly, the same amount previously agreed with the lender will be deducted from your account.
  • Direct contact. The lender who provides you with the amount personally negotiates the terms of the loan with you. Everything is as honest as possible.
  • Simple application. You do not need to spend a lot of time and effort in order to apply for a personal loan. A simplified application mechanism will do everything for you.
  • Security guarantee. The trust of our clients is very important to us, therefore confidentiality and security of data is our top priority.

Most personal lenders provide financing even for borrowers with bad credit, because they understand that anyone can find themselves in a difficult life situation and need money. However, it is important to understand that lenders face certain risks when lending money to borrowers with bad credit. That is why if you have bad credit, you are more likely to face higher interest rates and not be able to qualify for the maximum loan amount.

Surely you know that the timing of the loan repayment directly affects the amount of your loan and the monthly payment. If you choose a shorter repayment period, this will mean that the total amount of interest on the personal loan that you have to pay will be less, but your monthly payment will increase.
If you choose a longer loan repayment period, then the monthly payment will decrease, but you will have to pay more in interest. Thus, weigh the pros and cons and decide which option suits you best.

Customer Testimonials

Patient and Friendly

“The best loan service I have ever used. Very helpful. Customer application and service is amazing. Will tell my friends and family about 123 money loans “

Experts in Loans

“Fantastic to deal with and quick and easy. Saved my holiday vehicle within a few minutes of applying for a loan. Thank you so much, 123moneyloans”

South Carolina

Quick and Easy

“Very easy and convenient I’m really happy using your loan service Thanks”