Prosper: Personal Loans

Editor's Review

Are you looking for a personal loan or need to manage an existing one? 🤔 The Prosper: Personal Loans App is here to simplify the process! Whether you're new to Prosper or an existing borrower, this app offers a range of features to help you explore loan options and manage your finances effectively. 📱

New to Prosper? 🤩 Estimate your loan amount, interest rates, and monthly payments in just two minutes without sharing your phone number or email. If you like what you see, you can submit your application in less than 5 minutes and potentially receive funding the next day (if you meet the required conditions). You can access fixed-rate, low-interest personal loans from $2,000 to $50,000. 💰

Here’s what you can do:

• Get an estimated loan amount and interest rate in three taps & two minutes ⏱️
• Choose between a minimum 2-year term or a maximum 5-year term (1) 🗓️
• Submit an application directly from your phone in less than minutes 📱
• Annual Percentage Rate (APR) ranges from 8.99% to 35.99%, with the lowest rates for the most creditworthy borrowers 🏦
• Application got interrupted? Pick up right where you left off ↩️
• Get next-day funding in as little time as one business day if you meet required conditions 🚀
• All personal loans made by WebBank. 🏦

Already a borrower? 👍 Manage your personal loan with ease from anywhere using the Prosper: Personal Loans App. Log in to your My Prosper Account easily and securely with Fingerprints or Face Recognition. You can make payments, set up automatic payments, and track your loan progress, all from the palm of your hand. 🤳

Key features for existing borrowers include:

• Keep an eye on automatic payments or make a manual payment anytime, anywhere ⏰
• Forget passwords & boost security. Use Face Recognition/Fingerprints to access your My Prosper Account 🔐

For example, a three-year $10,000 personal loan would have an interest rate of 9.38% and a 9.99% origination fee for an annual percentage rate (APR) of 16.74% APR. You would receive $9,001.00 and make 36 scheduled monthly payments of $319.77. A five-year $10,000 personal loan would have an interest rate of 11.14% and a 9.99% origination fee with a 15.84% APR. You would receive $9,001.00 and make 60 scheduled monthly payments of $218.12. Origination fees vary between 1% and 9.99%. Personal loan APRs through Prosper range from 8.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form.

About Prosper 🏦

Founded in 2005, Prosper was the first peer-to-peer lending marketplace in the United States. Since then, it has facilitated over $19 billion in personal loans to more than one million people. 🧑‍🤝‍🧑 Through Prosper, people can invest in each other in financially and socially rewarding ways. Borrowers apply online for fixed-rate, fixed-term loans between $2,000 and $50,000. Individuals and institutions can invest in the loans and earn solid returns. 📈

Features

• Estimate loan amount in just two minutes

• Choose between 2-year or 5-year loan term

• Submit application directly from your phone

• Get next-day funding if you meet conditions

• Manage loans with fingerprints or face recognition

• Make manual payments anytime, anywhere

• Track the progress of your loan easily

• Set up automatic payments for convenience

Pros

• Quickly estimate loan amount and interest rate

• Apply for a loan in less than 5 minutes

• Manage your loan easily from anywhere

• Make payments and track loan progress

• Access your account with Face Recognition/Fingerprints

Cons

• APR can be as high as 35.99%

• Loan eligibility is not guaranteed