Pros Explained

• May be available to fair credit borrowers: With the goal of expanding access to people with less-than-perfect credit, Personify looks at more than just your credit score when considering your application. The lender doesn’t set minimum credit score or credit history requirements, so you’re welcome to apply if you have bad credit.
• Offers refinancing: Personify reviews your account every six months and may offer the opportunity to refinance your loan with the potential to lower your monthly payments.
• Repayment terms up to 48 months: Depending on your application, Personify may offer you a term of one year to up to four years, which may make repayment more manageable.
• Excellent customer reviews: Personify has a 4.8 out of 5 star average rating from more than 9,500 reviewers on Trustpilot.
• No prepayment penalties: You can pay off your Personify loan at any time without penalty. If you can afford to pay it off early, you’ll save money.

Cons Explained

• High APRs starting at 19%: Personify’s loans start at 19% APR, while the average rate on a 24-month personal loan was 11.48% in May 2023. APRs on Personify personal loans can be as high as 179.5% in many states, depending on your individual financial situation. 
• 5% origination fee: Personify may charge a one-time fee of 5% of the loan amount, but this fee is repaid over time as part of your monthly payments.
• Doesn’t allow co-signers: Personify doesn’t allow you to apply with a co-signer, so you can’t get help from a family member with good credit.

Types of Personal Loans Offered by Personify Financial

Personify loans can be used for almost any purpose. The lender doesn’t disclose any restrictions, but may include prohibited uses in your loan agreement, so read your loan documents carefully before signing. Some examples of loan purposes include:

• Debt consolidation
• Medical expenses
• Auto repairs
• Home renovations
• Emergency expenses

Time to Receive Personal Loan Funds

Personify Financial offers an entirely online application you can complete from your computer or smartphone. If you’re automatically approved, you’ll receive an instant decision, but Personify may ask for additional documentation. If you’re required to submit documents, Personify will make a loan decision within two business days.

Once you’re approved, Personify Financial may deposit the funds into your checking account in as little as one business day, but it may take up to two business days, depending on when you sign your loan documents. Your financial institution’s policies may also impact when the funds become available to you.

Borrower Requirements

Personify does not disclose a minimum credit score, but the company aims to make credit available to more borrowers by evaluating more than just your credit score. To get a loan from Personify, you must apply online and have a valid checking account with online access.

Personify Financial Personal Loan Features

Personify offers an online borrower portal that provides you with free access to your FICO score.

Co-Signers and Co-Applicants

Some lenders allow you to apply with a co-signer, who agrees to take responsibility for your debt if you fail to repay, or a co-borrower, who shares responsibility and access to the funds. Applying with a co-signer or co-borrower who has good credit can improve your chances of getting approved for a loan if you have poor credit. Personify doesn’t offer borrowers the opportunity to apply with a co-signer or co-applicant.

Can You Refinance a Personal Loan With Personify Financial?

Personify allows borrowers to refinance their original loans and reviews each customer’s account every six months. If your credit score improves, you may be able to refinance your loan with Personify at a lower rate than you were initially offered.

Customer Service

Medium	Contact	When
Telephone	888-578-9546	M–F: 8:00 a.m.–9:00 p.m. CT Sat.: 8:00 a.m.–5:00 p.m. CT
Email Form	Click	24/7

Customer Satisfaction

Personify has excellent customer reviews on Trustpilot. The company has an average rating of 4.8 out of 5 stars from more than 9,500 customer reviewers. Borrowers often cite the quick and easy application process as a reason for their positive reviews. 

Personify also has an A+ rating with the and an average rating of 4.82 out of 5 stars from more than 850 customer reviews.

Compare Personify Financial with Other Personal Loan Lenders

	Personify Financial
APR Range	19.00%–179.50%	8.49%–35.99%	7.80%–35.99%
Loan Amounts	$500–$15,000	$1,000–$50,000	$1,000–$50,000
Loan Terms	12–48 months	24–84 months	36–60 months
Recommended Minimum Credit Score	550	620	300
Origination Fee	5.00	9.99	12.00
Time to Receive Funds	1 day	1 day	1 day

The Bottom Line

Personify Financial offers options for borrowers who may be turned away from other lenders, and customers are generally happy with the service they receive from the company. But before you accept a high APR loan from Personify, explore other alternatives, such as applying with a co-signer at another lender. And make sure you understand the amount of interest you’ll pay over time. Ideally, you should only use Personify for a small loan when your only alternative is a payday loan due to its high APR.

Frequently Asked Questions (FAQs)

What Credit Score Does Personify Financial Require?

Personify Financial doesn’t disclose a minimum required credit score. Fair and poor credit borrowers can prequalify, but they may not have access to the lowest rates.

Is Personify Financial a Legit Company?

Personify Financial is a licensed lender in some states and works through a bank partnership in other states. The company has a good reputation with the Better Business Bureau and excellent customer reviews on Trustpilot.

Does Personify Financial Verify Income?

As part of your application, you’ll log into your bank account so Personify can verify your income. Applying for a loan without income will likely mean your application will be denied.

How Long Does It Take to Get Money From Personify Financial?

In total, it can take up to four business days to get a loan from Personify Financial. Most lending decisions are instant but can take up to two business days if documents are required. Depending on when you sign your loan documents, it can take up to two business days after approval to receive your funds.

Can I Refinance My Personify Financial Loan?

You can refinance your Personify Financial loan as Personify allows personal loan refinancing.

Methodology

To evaluate and rank personal loan providers we collected hundreds of data points across 70 lenders, including traditional banks, credit unions, fintechs, and special interest finance companies. We researched and evaluated APRs, loan amounts and terms, fees, customer experience, and much more. To rank the lenders in our database and to generate star ratings, we weighted the data we collected, based in part on what consumers told us were the most important features of a personal loan and lender in a survey we conducted. We grouped those factors into four broad areas:

• Loan costs (advertised APR, fees, and six other factors): 29.25%
• Loan terms (loan amount, repayment term, and three other factors): 22.25%
• Borrowing requirements (credit score, membership requirement, and six other factors): 28.5%
• Additional features (online application, pre-qualification, and eight other factors): 20%
• Learn more about how we evaluated personal loans in our complete methodology.