About Lender
60MonthLoans is a lending company that offers low-rate personal loans with a mission to help people take control of their finances. The company believes that everyone should have access to financing options that meet their financial needs and lifestyle. They provide flexible, easily accessible, and affordable personal loans with low-interest rates that are easy to repay.
If you agree to the terms of lending provided by 60MonthLoans, you will be required to e-sign the lending agreement. Once you have completed this step, you will only need to wait for your loan to be transferred.
60MonthLoans offers personal loans in many states and provides various loan amounts and repayment terms to suit different financial needs. They have a user-friendly online application process, which is quick and easy to complete. Additionally, the company offers excellent customer support and has a team of loan experts available to assist clients with any questions or concerns.
In summary, if you are looking for a reliable lending company that offers flexible, affordable, and easily accessible personal loans, 60MonthLoans is an excellent choice. Their mission to help people take control of their finances is commendable, and their user-friendly online application process makes borrowing money hassle-free.
Key Features
60MonthLoans is a lending company that offers personal loans to individuals, regardless of their credit scores. They accept poor and fair credit scores and aim to provide financial solutions that suit their customers' needs. This means that even if you have had credit problems in the past, you may still be able to qualify for a loan with 60MonthLoans.
Another advantage of working with 60MonthLoans is that they do not charge prepayment penalties. This means you can pay off your loan early without incurring additional fees or charges. Additionally, the company does not perform a hard inquiry on your credit report when you apply for a loan. This is beneficial because hard inquiries can negatively impact your credit score.
The application process with 60MonthLoans is quick and straightforward. You can complete the online application form in a matter of minutes and receive a response within a short time frame. The company also does not require collateral for its loans, which is helpful if you do not have any assets to use as security.
Finally, 60MonthLoans reports to the credit bureaus. This means that making timely payments on your loan can positively impact your credit score. By reporting to the credit bureaus, the company helps its customers build and improve their credit profiles, which can help them secure better loan terms in the future.
In summary, 60MonthLoans is a reputable lending company that accepts poor and fair credit scores, does not charge prepayment penalties, performs no hard inquiries, has a quick application process, and does not require collateral. Moreover, by reporting to the credit bureaus, the company helps its customers improve their credit scores and build better financial futures.
Pros and Cons
Pros:
- Acceptance of poor and fair credit scores: 60MonthLoans is a lender that provides personal loans to people with poor or fair credit scores. This can be helpful for individuals who other lenders may have turned down due to their credit history.
- No prepayment penalties: 60MonthLoans does not charge prepayment penalties, which means that borrowers can pay off their loans early without incurring any additional fees or charges. This can be a significant advantage for individuals who want to save money on interest charges.
- No hard inquiry: When borrowers apply for a loan with 60MonthLoans, the company does not perform a hard inquiry on their credit report. This can be beneficial because hard inquiries can negatively impact credit scores.
- Quick application process: 60MonthLoans has a user-friendly online application process that is quick and easy to complete. This can be helpful for individuals who need access to funds quickly.
- No collateral needed: 60MonthLoans does not require collateral for its loans, which means that borrowers do not have to put their assets at risk.
- Competitive interest rates: The company charges APRs of 19.57% to 69.73%.
- No prepayment fees.
- Reporting to the credit bureaus: 60MonthLoans reports to the credit bureaus, which can help borrowers build and improve their credit scores.
Cons:
- Limited availability: 60MonthLoans only provides loans in certain states, such as Alabama, California, Delaware, Georgia, Idaho, Illinois, Missouri, New Mexico, North Dakota, South Carolina, Utah, and Wisconsin, which may limit access to its services for some borrowers.
- Potentially high-interest rates: While 60MonthLoans offers low-interest rates, some borrowers may still receive higher rates depending on their credit history and other factors.
- Limited loan amounts: 60MonthLoans provides personal loans ranging from $2,600 to $10,000. This may not be enough for some borrowers who need larger loan amounts.
- Limited repayment terms: 60MonthLoans offers repayment terms of up to five years. This may not be suitable for borrowers who need longer repayment terms.
- Late payment fees: 60MonthLoans charges late payment fees, which can add additional costs to borrowers who are unable to make timely payments.
Overall, while 60MonthLoans has several advantages, such as acceptance of poor and fair credit scores, no prepayment penalties, and a quick application process, borrowers should consider the potential drawbacks, such as limited availability, potentially high-interest rates, limited loan amounts, and repayment terms, as well as late payment fees before deciding to borrow from the company.
Products
60MonthLoans provides personal loans in 12 states, ranging from $2,600 to $10,000. If you are considering borrowing from 60MonthLoans, it is essential to read their terms and conditions to determine if their products are suitable for your financial needs.
One of the benefits of borrowing from 60MonthLoans is that there are no penalties for early repayment. This means you can pay off your loan ahead of schedule without incurring additional fees or charges.
However, it's important to note that there is an origination fee of up to 5% of the loan proceeds. This fee is deducted from the loan amount before it is disbursed to you.
When you apply for a loan with 60MonthLoans, a soft credit inquiry is used to check your eligibility, which does not affect your credit score. This is beneficial because it allows you to explore your borrowing options without damaging your credit score.
It's also important to note that 60MonthLoans does not provide the option of applying for a loan with a cosigner. This means that you are solely responsible for repaying the loan, and no one can co-sign the loan with you.
In summary, 60MonthLoans provides personal loans in 12 states, ranging from $2,600 to $10,000. There are no penalties for early repayment, but there is an origination fee of up to 5% of the loan proceeds. A soft credit inquiry is used to check your eligibility, and there is no option to apply for a loan with a cosigner.
Reliability
60MonthLoans has a solid reputation for reliability, which is supported by various factors.
Firstly, the company has an A+ rating with the Better Business Bureau (BBB), which indicates that they have a good track record of customer service and resolving any complaints that have been filed against them. However, it's worth noting that the company is not BBB-accredited, which means they do not participate in BBB's accreditation program.
Secondly, 60MonthLoans has a 4.6 rating on Trustpilot, which is an independent online review platform. This rating suggests that a large majority of their customers are satisfied with their services, which is a good indicator of the company's reliability.
Additionally, 60MonthLoans is licensed in several states, for example, California. This means that they comply with the state's regulations and laws governing lending practices. Being licensed also shows that the company is operating legally and is committed to ethical business practices.
In conclusion, 60MonthLoans appears to be a reliable lending company with an A+ BBB rating, a high Trustpilot rating, and proper licensing in at least one state. However, as with any financial decision, it's important to conduct your own research and due diligence before borrowing from them or any other lender.
Funding a Loan
Once you accept the offer and sign the loan documents, your funds will be available in one business day. Please note that signed loan agreements after 4:30 PM CST will be processed and disbursed on the following business day.
Loan Conditions
The loan conditions of 60MonthLoans include:
- Loan Amounts: The loan amounts provided by 60MonthLoans range from $2,600 to $10,000.
- Loan Term: The loan term for 60MonthLoans ranges from 12 to 60 months, depending on the loan amount and borrower's creditworthiness.
- APR: The Annual Percentage Rate (APR) for loans provided by 60MonthLoans ranges from 19.57% to 69.73%, depending on the loan amount and borrower's creditworthiness.
- Origination Fee: An origination fee of up to 5% of the loan proceeds is deducted from the loan amount before it is disbursed to the borrower.
- Prepayment Penalty: 60MonthLoans does not charge prepayment penalties, which means that borrowers can pay off their loans early without incurring any additional fees or charges.
- Collateral: 60MonthLoans does not require collateral for its loans, which means that borrowers do not have to put their assets at risk.
- Credit Score: 60MonthLoans accepts poor and fair credit scores, making it easier for individuals with credit problems to qualify for a loan.
It's essential to carefully read and understand the loan conditions before applying for a loan with 60MonthLoans. Borrowers should consider the loan amount, loan term, APR, origination fee, prepayment penalty, collateral, and credit score requirements to determine if the loan conditions are suitable for their financial needs.
