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Associated Bank Personal Loans: Comprehensive Financial Solutions for Your Needs

Associated Bank's Personal Loans are designed to align with your financial goals. Whether you need funds for home improvement or debt consolidation, Associated Bank offers tailored solutions.
Offers: 2
Updated:
02.02.2024
15:38
Best Personal Loan Today 28.02.2024*
Finanso
Personal Loans
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
2000.00 – 100000.00 $
Rate
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Effective interest rate on the product

6.34 – 35.89 %
Term
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Loan term for the financial product

2 months – 72 months
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Submit One Loan Application Online!

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Associated Bank
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
3000.00 – 25000.00 $
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Associated Bank Loan Calculator

Use our loan calculator to get insights on possible loan amounts, interest rates, and repayment schedules. It's a crucial tool for your lending needs.

The best personal loan calculator
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The Legal Status of Personal Loans in the USA

In the USA, personal loans are legal and typically used for non-business needs. They must be repaid according to the loan agreement, which includes interest and a repayment timeline. Various laws regulate these loans, including the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, and the Truth in Lending. These laws protect both the lender's interests and the borrower's rights, ensuring fairness and transparency in the lending process.

Reviews
CreditFresh
4.8
The application process was a breeze, and I received a response within minutes. This straightforward and prompt procedure proved to be a great help to me during a crucial time of need.
Review
JG Wentworth
4.6
The assistance I received was exceptional. My representative handled my case with care and provided all the necessary information...
Review
OneMain Financial
4.4
The loan application process was straightforward, and the representative I interacted with displayed patience, provided informative answers, and was quite pleasant throughout...
Review
My Funding Choices
4.6
The process was swift and straightforward, which was particularly helpful during a time when, despite my reluctance to seek assistance, I genuinely needed help.
Review
Plain Green Loans
2
The interest rate is shockingly high, and it feels like taking advantage of individuals facing financial challenges when unexpected expenses arise...
Review
Advance America
4.6
I have never encountered any issues with this company. They consistently deliver funds on time, and the repayment process is straightforward...
Review
Associated Bank Personal Loans: Comprehensive Financial Solutions for Your Needs

What are Associated Bank Personal Loans?

Associated Bank offers personal loans in partnership with Upstart, a leading online lending platform. Personal loans are a popular financial product that provides customers with the flexibility to meet various personal expenses, consolidate debt, or finance significant life events.

Features

  1. Fast Online Application Process. Applicants can apply for a personal loan through Upstart's online platform. The application process is quick, convenient, and can be completed from the comfort of one's home.
  2. Customized Loan Amounts. Associated Bank provides personal loans ranging from $3,000 to $25,000. The actual loan amount an applicant qualifies for is determined based on various factors, including their creditworthiness, income, and other relevant information provided during the loan application. Not all applicants will qualify for the full amount.
  3. Competitive Interest Rates. Associated Bank and Upstart aim to offer competitive interest rates on their personal loans. The interest rates are determined based on the borrower's credit score, financial history, and other relevant factors.
  4. Unsecured Loans. Personal loans from Associated Bank and Upstart are unsecured, meaning borrowers do not need to provide any collateral to secure the loan. This eliminates the risk of losing valuable assets in case of default.
  5. Flexible Repayment Terms. Borrowers can choose from various repayment terms to find a plan that fits their budget and financial goals. Longer repayment terms may result in lower monthly installments, while shorter terms may lead to faster debt payoff.
  6. Transparent Fee Structure. Associated Bank and Upstart are committed to transparency, and borrowers will be provided with clear information regarding any associated fees, such as origination fees or prepayment penalties.
  7. Quick Funding. Once a loan application is approved, funds are disbursed swiftly, allowing borrowers to access the money they need promptly.

    Associated Bank Personal Loan Options

    Associated Bank offers a range of personal loan options to meet the financial needs of its customers. These loans are subject to credit approval and may involve interest and other associated costs. It is important to inquire about specific details on fees, terms, and conditions for each loan product. Additionally, if the collateral is involved, relevant insurance coverage will be required.

    One of the standout features of Associated Bank's personal unsecured installment loans is the absence of origination or application fees. This means that customers can apply for a loan without incurring any upfront charges, making accessing the funds they need more convenient.

    Personal unsecured installment loans come with competitive interest rates, with the maximum Annual Percentage Rate (APR) capped at 17.49%. The actual APR offered to each applicant will be based on several factors, including their credit score, the requested loan amount, verified income and assets, as well as their existing deposit account relationship with Associated Bank.

    For instance, let's consider a hypothetical example: If a customer is approved for a $10,000 personal loan with an APR of 10% and a loan term of 60 months (5 years), their monthly installment would amount to approximately $212.47. Over the entire 60-month life of the loan, the total repayment amount would be approximately $12,748.23. It is important to note that the actual rate and loan amount offered to individual customers may differ from this example, as they will be tailored to each customer's specific financial situation.

    Associated Bank offers a flexible loan amount range for these personal loans, starting from $3,000 and going up to $25,000. This allows customers to borrow an amount that aligns with their financial needs, whether it's for consolidating debt, financing a major purchase, or covering unexpected expenses.

    Pros and Cons

    Pros

    Flexible Loan Amounts. Borrowers can access personal loans ranging from $3,000 to $25,000, allowing them to tailor the loan amount to their specific financial needs.

    Competitive Interest Rates. The maximum Annual Percentage Rate (APR) is capped at 17.49%, which can be advantageous for borrowers seeking lower interest rates compared to some credit cards or other high-interest loan options.

    Quick Online Application. The application process is conducted online through Upstart's platform, making it convenient and time-efficient for applicants.

    Unsecured Loans. Personal loans offered by Associated Bank do not require collateral, reducing the risk for borrowers who may not have valuable assets to pledge as security.

    Versatile Use. Borrowers have the freedom to use personal loans for various purposes, including debt consolidation, medical bills, home improvements, special events, and relocation costs.

    Transparent Fee Structure. Associated Bank provides clear information about fees, including origination fees or prepayment penalties, ensuring transparency throughout the borrowing process.

    Cons

    Creditworthiness Required. While alternative data points are considered, applicants still need a certain level of creditworthiness to qualify for a loan. Those with poor credit may have difficulty getting approved or may receive less favorable terms.

    Potential for Overborrowing. The availability of loan amounts up to $25,000 may tempt some borrowers to take on more debt than they can comfortably repay.

    Repayment Terms. While personal loans offer flexible repayment terms, some borrowers may find the maximum term of 5 years (60 months) too short for their financial situation.

    Insufficient Information on the Bank's Website. Some applicants may find insufficient information on Associated Bank's website regarding specific loan details or eligibility criteria, which could be a drawback for those seeking comprehensive information before applying.

    How to Apply for an Associated Bank Personal Loan?

    Apply For a Loan

    1. Visit the Upstart Website. Go to the Upstart website using a web browser on your computer or mobile device.

    2. Create an Account. If you don't already have an account with Upstart, you'll need to create one. Create an account if you don't already have one by providing your email address and password.

    3. Check Loan Eligibility. Once you have an account, Upstart will ask you a series of questions to determine your eligibility for a personal loan. This may include questions about your income, employment history, education, and other relevant information.

    4. Submit Loan Application. After completing the eligibility check, you can complete the personal loan application form. You'll need to provide personal details, financial information and specify the loan amount you wish to borrow.

    5. Review Loan Terms. Upstart will assess your application and provide you with loan offers based on your creditworthiness and other factors. You'll be able to review the loan terms, including the interest rate, repayment period, and any associated fees.

    6. Accept Loan Offer. If you find a loan offer that suits your needs, you can accept it by electronically signing the loan agreement.

    7. Verification Process. After accepting the loan offer, Upstart may require additional documentation or verification of the information you provided in your application.

    8. Loan Approval. Once your application and verification process are complete, Upstart will review your information for final approval.

    9. Receive Funds. If your loan is approved, the funds will be deposited into your designated bank account, typically within a few business days.

    Requirements

    1. Age. Applicants must be at least 18 years old to be eligible for a personal loan.

    2. Residency. Applicants must be U.S. citizens or permanent residents with a valid Social Security Number.

    3. Creditworthiness. Upstart will assess the applicant's credit history and credit score to determine their creditworthiness. While they may consider alternative data points, having a good credit score can increase the likelihood of loan approval and may result in more favorable loan terms.

    4. Income. Applicants are required to have a stable source of income. This can include employment income, self-employment income, or other regular sources of funds that can be verified.

    5. Bank Account. A valid and active bank account is usually necessary for the loan disbursement and repayment process.

    6. Identification. Applicants must provide a valid form of identification, such as a driver's license or government-issued ID.

    Ways to Receive the Money

    When you are approved for a personal loan from a bank like Associated Bank, the borrowed amount is usually disbursed through several methods. The most common method is through direct deposit. The bank will electronically transfer the loan amount directly into your designated bank account. You will need to provide your bank account details during the loan application process.

    How to Pay Off an Associated Bank Personal Loan?

    1. Review the Loan Agreement. Before making any payments, review your loan agreement to understand the terms and conditions, including the total loan amount, interest rate, repayment schedule, and any prepayment penalties.

    2. Contact Associated Bank. Reach out to Associated Bank's customer service or visit a local branch to inquire about the payoff process. They will provide you with the necessary information and guidance on making the payment.

    3. Check the Outstanding Balance. Obtain the current outstanding balance on your personal loan. This can usually be found on your loan statement or by contacting the bank directly.

    4. Choose a Payment Method. Associated Bank typically offers multiple payment methods for loan repayment. Common options include online payments through the bank's website or mobile app, automatic deductions from your bank account, mailing a check or money order, or paying in person at a branch.

    Things to Consider

    1. Loan Amount. Associated Bank offers personal loans ranging from $3,000 to $25,000. Consider the specific amount you need to borrow and ensure it aligns with your financial requirements.

    2. Interest Rate. The maximum Annual Percentage Rate (APR) for personal loans is capped at 17.49%. Take note of the interest rate offered to you and calculate the total interest you will pay over the loan term.

    3. Repayment Term. The available loan term is up to 5 years (60 months). Choose a repayment term that allows you to comfortably manage monthly payments while considering the overall cost of the loan.

    4. Creditworthiness. Associated Bank considers factors like credit score, income, and other information to determine the loan amount and interest rate you qualify for. Assess your creditworthiness and be aware of how it affects your loan eligibility.

    5. Loan Purpose. Determine the specific purpose for the personal loan, such as debt consolidation, home improvements, medical bills, special events, or relocation costs. Ensure that the loan serves your intended purpose and avoid overborrowing.

    6. Fees. Note that Associated Bank doesn't charge origination or application fees.

    Alternatives

    Credit Cards

    Apply For a Loan

    Credit cards are a revolving line of credit that can be used for various purchases and expenses. Companies that offer credit cards include major banks like Chase, Bank of America, and Citibank and credit card issuers like Capital One and Discover.Chase

    Home Equity Loans and Lines of Credit (HELOC)

    Apply For a Loan

    Home equity loans and HELOCs allow homeowners to borrow against the equity in their homes. Some banks that offer home equity products include Wells Fargo, U.S. Bank, and TD Bank.Wells Fargo

    Balance Transfer Cards

    Apply For a Loan

    Balance transfer credit cards allow you to transfer high-interest debt from other credit cards onto a card with a lower introductory interest rate. Companies that offer balance transfer cards include American Express, Barclays, and HSBC.American Express

    Peer-to-Peer (P2P) Lending

    Apply For a Loan

    P2P lending platforms connect borrowers with individual investors willing to lend money. Examples of P2P lending companies include LendingClub and Prosper.LendingClub

    Secured Loans

    Apply For a Loan

    Secured loans require collateral, such as a car or savings account, to secure the loan. Many banks and credit unions offer secured loan options, such as PNC Bank and Citizens Bank.PNC Bank

    Credit Union Loans

    Apply For a Loan

    Credit unions are member-owned financial cooperatives that often offer personal loans with competitive rates and terms. Examples of credit unions include Navy Federal Credit Union and America First Credit Union.Navy Federal Credit Union

    Editorial Opinion

    Personal loans are a valuable financial tool that can provide individuals with the means to address various needs, from consolidating debts to financing important life events. In this context, the personal loans offered by Associated Bank in collaboration with Upstart present several attractive features that make them a viable option for borrowers. However, it is essential to approach these loans with careful consideration and financial responsibility. One notable aspect of the personal loans offered by Associated Bank is the flexibility in loan amounts. Ranging from $3,000 to $25,000, this range caters to diverse financial requirements, allowing borrowers to obtain funds that align precisely with their needs. Additionally, the competitive interest rate cap of 17.49% APR ensures that borrowers may secure more favorable rates compared to certain high-interest alternatives, such as credit cards. The quick and convenient online application process, facilitated by Upstart's platform, is a welcome feature for borrowers seeking a hassle-free experience. The consideration of alternative data points in the underwriting model is particularly advantageous for applicants with limited credit history, offering them a chance to qualify for a loan based on factors beyond traditional credit scores. However, there are certain factors that borrowers must carefully assess before availing themselves of these personal loans. The creditworthiness requirement may present challenges for individuals with less favorable credit scores, potentially limiting access to the full loan amount or resulting in higher interest rates. Prospective borrowers must thoroughly understand their own financial situation and repayment capacity to ensure that taking on a personal loan is a sustainable decision.

    Important

    Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

    Methodology

    At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

    In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

    At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

    Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

    Additional resources

    To learn more about personal loans and best practices, check out some of the following resources:

    Sources

    FAQ

    What credit score do you need for an Associated Bank personal loan?

    Associated Bank, in collaboration with Upstart, considers various factors, including credit score, when determining eligibility for a personal loan. While they consider credit scores, they also consider alternative data points to assess an applicant's creditworthiness. This unique approach allows individuals with limited credit history to potentially qualify for a loan. However, the information does not mention a specific minimum credit score requirement. To better understand the credit score needed for an Associated Bank personal loan, applicants are encouraged to apply and receive a personalized assessment based on their financial situation.

    How fast does Associated Bank approve loans?

    Through Upstart's platform, Associated Bank offers a quick and convenient online application process for personal loans. The exact approval timeline can vary based on individual circumstances, including the completeness of the application and the time taken for the verification process. Upstart's use of alternative data points might expedite the approval process for some applicants. In many cases, borrowers receive loan approval within a few business days after submitting their application.

    Does Associated Bank verify income?

    Yes, Associated Bank, in collaboration with Upstart, verifies income as part of the loan application process. Along with credit scores and other data, income verification helps assess a borrower's loan repayment ability. Providing accurate income information during the application is crucial to ensure a smooth evaluation and avoid delays in the loan approval process.