Loans from
$300 – $5,000
Repayment term
4 – 24 Months
Minimum credit score
No min. to apply
The figures provided are representative of a typical installment loan made or arranged by CreditNinja and are not guaranteed rates or terms that you may qualify for. For more information click here.
What Is a Personal Loan?
A personal loan is a type of credit where borrowers take out money in one lump sum and pay back the balance, plus interest and fees, with monthly payments. Depending on the type of personal loan, the rates, terms, APR, and even loan amounts can vary widely. Some types of personal loans, known as secured loans, require the borrower to use collateral. Unsecured loans, like a CreditNinja loan, do not require collateral.
At CreditNinja, we offer personal loan products including traditional installment loans. Our flexible repayment terms are meant to be a more sustainable financial solution over other kinds of quick loans.
How Do You Apply for a CreditNinja Personal Loan?
A CreditNinja loan is designed to provide borrowers with their approved funds ASAP. We know that when you’re going through a stressful financial situation, you need your money fast. That’s why our application allows for a streamlined approval process consumers can complete in just a few minutes!*
| Apply Online Easily | Income Verification | Same-Day Availability |
|---|---|---|
| Start by filling out our quick application with some basic information like: Your name, address, and desired loan amount | Next, we’ll use your bank info to verify that you have income. This information also allows us to deliver your approved funds via direct deposit! | Upon approval, you can expect money in your bank account in just a few hours, or the next business day.* |
What CreditNinja Loan Customers are Saying
Check out what some recent customers have to say about their experience with CreditNinja!
“Easy to apply, very easy to understand, and was deposited very quickly. Love love love this” – Ariel | “The representative was very nice and guided me through the application and helped me with any questions that I had.” – Romonia | The processing time is fast. You don’t have to wait so many days. Moderate interest rate. Immediate solution!” – Roma |
CreditNinja Rates and Terms
The loan amount and the borrower’s general credit history play a major role in determining the rates and terms for most personal loans. For example, borrowers who take out a loan for a few hundred dollars to cover some minor expenses may likely receive shorter terms compared to someone borrowing a few thousand dollars or more to consolidate debt or pay off another line of credit. When it comes to APRs, people with higher credit scores are generally qualified for a lower APR on a private loan.
At CreditNinja, our interest rates (and APR) depend on what product you pick, how much money you borrow, and your financial history. We try to keep our eligibility criteria easy and attainable, so while approved borrowers must have a source of income and a bank account, there is no minimum credit score requirement!
Loan Amount Ranges | Loan Term Ranges | Minimum credit | Fees |
$300 – $5,000 | 4 – 24 months | No minimum credit to apply | NO prepayment penalty |
Frequently Asked Questions
Is it possible to get same day approval?
It is possible to be approved the same day you apply! Applications approved before 10:30 a.m. CT Monday – Friday are generally funded the same business day. Applications approved after this time are generally funded the next business day.
How can I use a personal loan to consolidate debt?
Some use a personal loan to pay off multiple credit cards so they only have to worry about one payment. By consolidating your credit card balances into a single personal loan with a lower interest rate, you can simplify your payments and potentially save on interest costs.
What can a personal loan be used for?
A personal loan is usually used for unexpected expenses, like medical expenses, car repairs, or home improvement, but consumers can also use them to consolidate high interest debt, pay for food/groceries, and more! Some common reasons borrowers take out personal loan funds include:
- Paying other debts
- Catching up on bills like rent or utilities
- Paying for insurance
- Financial emergencies
What are the interest rates for personal loans?
Many types of online personal loans, including CreditNinja loans, come with fixed interest rates and APR. When a loan has a fixed interest rate, that means the interest rate charges will remain the same throughout the life of the loan. Fixed rates also usually result in a fixed monthly payment, which means as long as you make your monthly payments on time, the amount due should always be the same.
What is the maximum loan amount I can borrow?
How much money you can borrow will depend on factors like your credit history, current debts, and your financial needs. For example, a consumer who needs a bigger personal loan to pay for unexpected car problems may need a higher loan amount than someone who is just looking for a few hundred dollars to cover groceries until payday. Your credit score and current debts will also play a role in determining your maximum loan amount. For instance, if your debt-to-income ratio is high, you may only qualify for lower loan amounts unless you pay off some of your current debts.
How does a personal loan impact your credit score?
A personal loan can have a positive or negative impact on your credit score, depending on how you handle your loan. While borrowers who make consistent timely payments may see their credit score increase over time, borrowers who submit late payments or miss payments altogether will likely see their credit score drop. To make sure you benefit the most from your personal loan, you can:
- Submit just one loan application instead of multiple
- Make your monthly payments on time
- Don’t borrow more than you need
You can also use the helpful CreditNinja loan calculator to view potential loan amounts, interest rates, APR, and repayment terms without impacting your credit!
How long does it take to get approved?
You deserve easy loan approval, which is why CreditNinja has a quick and streamlined funding process and strives to provide approved borrowers with same-day funding.* In just a few minutes, you can find out how much cash you could get today. All you have to do is:
- Fill out a quick application online.
- Upon approval, review your rates, terms, and APR, then sign your loan contract.
- Receive your approved funds!
How does the repayment process work?
Since CreditNinja online loans come with a fixed interest rate, borrowers can rely on consistent monthly payments that are predictable and easy to plan for. You can also sign up for automatic payments to make sure you submit each monthly payment on time. Borrowers can also view a full repayment schedule in their original loan agreement.
Are there any fees associated with the loan?
Just like any loan, borrowers will accrue late fees if they miss or submit late payments. Borrowers can avoid this type of penalty fee by making their payments on or before the payment due date. CreditNinja does not penalize borrowers for submitting early payments or paying off their loan balance early, so feel free to make your payment as early as you like.
Other fees, such as origination fees, will be identified in each borrower’s individual loan contract. Borrowers are encouraged to read their loan contracts before signing to ensure they understand the type of interest rates, fees, terms, APR, etc. that are associated with their loan.
Sources:
Bad Credit Loans | Balance Transfer Loans | Co-Signed Loans | Credit Card Consolidation Loans | Debt Consolidation Loans | Installment Loans | No Credit Check Loans | Payday Loans | Quick Cash Loans | Secured Personal Loans | Short Term Loans | Title Loans | Unsecured Personal Loans | Variable Rate Loans
CreditNinja is your trusted source for quality personal finance information. With a demonstrated history of helping borrowers in need, CreditNinja makes your financial growth and understanding our top priority. Whether you want to learn more about budgeting, saving, credit cards, or personal loans, at CreditNinja we are here to help.