Tower Loan Loans in Huntsville (AL)

Tower Loan Loans
This page provides a detailed overview of all Tower Loan loans in Huntsville (AL), including lending terms, interest rates and customer reviews. Compare offers and choose the best loan product for your needs.
Offers: 1
Updated:
27.03.2024
13:16
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.

3.46
(20 Ratings)
Recommended FinScore™
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1000.00 – 20000.00 $
Rate
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Interest rate

32.99%
Term
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Loan term for the financial product

1 years – 36 months

How to Apply for a Tower Loan Loan in Huntsville (AL)?

  1. Visit the Website. Navigate to Tower Loan's official website. On homepage choose the loan that best fits your needs.

  2. Apply Online. Look for an "Apply Online" option on the website. This process is designed to be simple, quick, and convenient. Tower Loan emphasizes that checking rates won't affect your credit score, which can be reassuring if you're cautious about credit inquiries.

  3. Enter Your Information. You will likely need to fill out an application form with personal information, financial details, and the amount you wish to borrow. Be prepared with your employment information, income details, and personal identification.

  4. Submit Necessary Documents. You may need to provide documentation as part of your application. This could include proof of income, identification, and possibly other financial documents.

  5. Review and Submit Your Application. Double-check all the information you've entered for accuracy. Once satisfied, submit your application for review.

  6. Wait for Approval. After submitting your application, there will be a waiting period for approval. Tower Loan have a streamlined process for reviewing applications.

  7. Sign Agreement. If you submitted an application online, you have the option to sign the document electronically. For in-office applications, it is necessary to sign the documents by visiting the office in person.

  8. Get Your Funds. The funds deposit is made to the bank account specified in the application.

Conditions and Requirements

Conditions

  1. Loan Amounts. The online loan amounts range from a few hundred dollars to $6,000 (up to $20,000 at a branch), depending on the borrower's creditworthiness and ability to repay.

  2. Interest Rates. The interest rate on Tower Loan personal loans is 32.99%.

  3. Repayment Terms.The repayment terms for Tower Loan personal loans are typically between 12 and 36 months. Borrowers can choose to repay the loan in monthly installments or make early payments without penalty.

  4. Credit Check. Tower Loan checks borrowers' credit history before approving loans. Borrowers with a strong credit history and income are more likely to be approved and receive lower interest rates on their loans.

  5. Collateral. Tower Loan does not require collateral for personal loans. This means borrowers do not need to put up any assets as security for the loan.

  6. Fees. Tower Loan may charge fees for late payments or other loan-related services.

  7. Application Process. Borrowers can apply for a Tower Loan personal loan online or at one of their branch locations. The application process typically involves providing personal and financial information, undergoing a credit check, and signing a loan agreement.

Requirements

  1. Application Submission. Applicants must fill out and submit an online application form available on the Tower Loan website.

  2. Personal and Financial Information. You'll likely need to provide personal information (e.g., name, address, Social Security number) and financial details (e.g., bank account number, income, employment information, and existing debt).

  3. Documentation. Customers must submit a certain documents (proof of income, ID, etc.) is part of the application process.

  4. Legal Age and Residency. Applicants must meet the minimum legal age requirement (typically 18 years or older in the United States) and be a resident in one of the states where Tower Loan operates.

  5. Ability to Repay. As part of the application review process, Tower Loan will likely assess your ability to repay the loan based on your income and financial obligations.

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.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

Other Loans in Huntsville (AL)