Pros Explained

• Co-borrowers are allowed: Achieve allows you to add a co-borrower to your application to improve your chances of approval, which many lenders don’t allow.
• Interest rate discounts available: Achieve offers interest rate discounts for adding a qualified co-borrower, showing proof of retirement savings, and having your loan funds paid directly to your creditors during debt consolidation.
• Low minimum APR: Achieve’s minimum APR is lower than many of its competitors, meaning borrowers with excellent credit may be able to save money.

Cons Explained

• High minimum loan amount: Achieve’s minimum loan amount is $5,000, which is higher than most lenders and disqualifies those borrowers who only want small loans.
• Charges an origination fee: Origination fees with Achieve can range from 1.99% to 8.99% of your loan amount, which can add up to thousands of dollars.
• Limited qualification details available: Though it shares the minimum 澳洲幸运5开奖号码历史查询:credit score needed for a personal loan (which is 620), Achieve offers minimal other guidelines on what is needed to qualify.

Types of Personal Loans Offered by Achieve

Achieve offers unsecured personal loans that can be used for nearly any purpose. Though Achieve doesn’t ꧙have specific requirements as to what borrowers can use their loans for, it lists some common loan purposes:

• Debt consolidation
• Credit card refinancing
• Home improvements
• Weddings
• Large purchases
• Travel or vacations
• Medical expenses
• Moving or relocation expenses

According to 澳洲幸运5🥀开奖号码历史查询:Investopedia’s 2023 Personal Loan Borrower survey, debt consolidation is the most common reason cited for getting a personal loan. Paying for home improve🅠ments and large purchases were the next two most common reasons.

Achieve also offers fixed-rate 澳洲幸运5开奖号码历史查询:home equity lines ꦗof credit (HELOCs), which allow borrowers to get⭕ a revolving line of credit of up to $150,000 for debt consolidation and large purchases.

Time to Receive Funds

In many♉ cases, you could get approved for an Achieve personal loan the day you apply. Achieve generally disburses funds to borrowers’ bank accounts within 24 to 72 hours. It also offers an option to send the funds directly to your creditors if you’re using the loan to consolidate debt. Not only does it eliminate steps for you, but it also qualifies you for an interest rate discount.

Borrower Requirements

Achieve requires a credit score of at least 620 to quali🐭fy for a personal🅷 loan. You’ll also need the following to have your application approved:

• Proof of income
• Social Security number
• Proof of identity
• Employment status

Keep in mind that even if you provide the necessary information and meet the minimum credit score re𝄹quirement, you could still have your application denied🔴 based on other factors on your credit report or in your personal finances.

Achieve Personal Loan Features

• Use a co-borrower to qualify or get better rates: If you can’t qualify on your own or you want to receive better rates and terms than what you can get on your own, you can apply for an Achieve personal loan with a co-borrower. This is a value-added feature not offered by many personal loan providers.
• Reduce your rate by paying off debt or proving retirement savings: You could get a better rate on your Achieve personal loan if you use at least 85% of the proceeds to pay off qualifying existing debt. Also, better rates are offered to individuals who can prove they have sufficient retirement savings in a 401(k), IRA, Roth IRA, etc. These features help Achieve stand out from the competition.

Co-Signers and Co-Borrowers

Achieve doesn’t allow co-signers on its personal loans, but it does all♉ow you to apply with a co-borrower. In fact, you can get an interest rate discount for adding a qualified co-borrower to your loan application.

Both co-signers and co-borrowers can help improve your chan❀ces of being approved for a personal loan, can increase the amount you’re approved for, and can help you qualify🌱 for a lower interest rate.

A co-applicant is someone who applies for a loan with 💙you. They also often directly benefit and help to repay the loan. An example of co-borrowers might be a couple that applies for a loan together to fuꦅnd a joint purchase.

A co-signer is someone who puts their name on the loan application to help improve your chances of qualifying. The co-signer generally doesn’t benefit from or make payments on the loan, but they promise to repay the l🌺oan if the primary borrower can’t.

Can You Refinance a Personal Loan With Achieve?

Depending on your loan eligibility, you may be able to refinance a personal loan with Achieve. Because Achieve charges no prepayment penalties, you can refinance your personal𒁃 loan at any time without fees. You would simply qualify for a new loan and use those loan procee💦ds to pay off your existing Achieve loan.

You can also use an Achieve personal loan to refinance a personal loan you have with another lender. Simply apply for an Achieve loan, and when you receive your loan proceeds, use the funds to pay off your other loan. You can also ask Achieve to pay yဣour loan funds directly to your other creditor, and will receive an interest rate discount for doing so.

Customer Service

You can contact the customer service team at Achieve via telephone anytime: 1-833-796-1058. Achieve doesn’t offe🃏r live chat on its website, which is typical for the industry.

Customer Satisfaction

A🐬chieve received a Combined Consumer Review rating of 4.8 (out of 5 possible). This rating is an aggregate of consumer review ratings and the number of reviews on two review sites: Trustpilot and the Better Business Bureau.

It’s worth noting that while Achieve itself hasn’t been the subject of any regulatory action or official complaints, its parent company, Freedom Financial Network, has many complaints with the Consumer Financial Protection Bureau (CFPB). Its company Freedom Debt Relief was also the subject of a 2017 lawsuit by the CFPB for misleading and deceiving its customers. 

How to Qualify For and Apply🌳 F🌠or an Achieve Personal Loan

You can apply for a personal loan from Achieve online bᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚy completing these steps:

1. Gather personal information and preliminary documentation: Before you apply, make sure you have basic personal information like your Social Security number, address, bank account number, and routing number on hand. Also, gather your current government-issued ID and income documentation.
2. Consider pre-qualifying first: Achieve allows you to pre-qualify for a loan without impacting your credit score. Doing this can give you a good idea of whether you’ll be approved for a loan and can help you avoid an unnecessary hit to your credit report.
3. Submit a quick online application: Once you have all the information you need to apply, you’ll complete a simple online application and wait to receive a loan decision.
4. Receive a loan decision: Assuming you’ve submitted your application early in the business day, your application is complete, and you respond quickly to any request for information, you may receive a loan decision on the day you apply.
5. Upload documentation: If you accept the loan, you’ll be required to upload documentation and sign a contract online.
6. Get funded: After your loan is approved and you’ve received and accepted your terms, your funds will be deposited electronically into your bank account. You can also opt to have your loan funds sent directly to your credits if you’re consolidating debt. Loans are generally funded between 24 hours and 72 hours after you sign the contract.

Loan consultantsౠ are available throughout the application process to answer 🍸your questions and help you.

Other Bank﷽ing Services and Loans Offered by🐻 Achieve

In addition to its personal loans, Achieve offers home equity lines of credit (though it refers to them as 澳洲幸运5开奖号码历史查询:home equity loans). Its HELOCs are fixed-rate revolving lines of credit of from $15,000 to $150,000. 

You can borrow against the credit line as many times as you want, as long as you repay it. The draw period—meaning the period during which you can borrow from tꦺhe HELOC—is five years. Once the draw period has ended, you’ll repay your HELOC as you would any other loan.

HELOCs through Achieve can be used for many purposes, including🎃 debt consolidaꦫting or refinancing, home improvements, or major purchases.

Compare Achieve With Othꦚer Personal Loan Lenders

The Bottom Line

Achieve personal loans have some major benefits, including a low minimum APR and interest rate discounts to help you save even more money. Achieve also allows co-borrowers, which many pers🍰onal loan lenders don’t.

Achieve does h𒈔ave a high minimum loan amount and charges an origination fee (which is common in the industry). However, if you’re planning to borrow at least $5,000, the discounts and interest savings available with Achieve might balance out the origination fee.

Is Achieve Good for Personal Loans?

Achieve can be a good option for personal loans for borrowers who qualify for the best interest rates or interest rate discounts. Achieve is also worth considering if you need to 澳洲幸运5开奖号码历史查询:apply with a co-borrower, since many other lenders don’t allow that.

༺What Credit Score Do You Need for an Achieveཧ Loan?

Achieve requires a credit score of at least 620 to qualify for a personal loan, but you could still be disqualified with the minimum score if you have other negative marks in your 澳洲幸运5开奖号码历史查询:credit history.

How Long Does It Take tꦿo Get Funds From an Achieve Personal Loan?

Once your 澳洲幸运5开奖号码历史查询:loan has been approved, which can happen as soon 💝as the same business day, it takes between 24 and 72 hours to have your loan funded.

Is Achieve Personal Loans Legit?

Yes, Achieve is a legitimate lender that offers a legitimate product in its personal loans. You don’t have to worry about getting scammed by Achieve, but you should run the numbers to see how it stacks up to 澳洲幸运5开奖号码历史查询:other personal loan lenders based on your financial situation.

Companies We Reviewed

While we write individual reviews for many companies, we do not always w🎃rite reviews for companies we would not recommend. Below are the lenders we researched to determine the best personal loan providewrs, along with links to individual company reviews to help you learn more before making a decision:

Achieve, Affinity Federal Credit Union, 澳洲幸运5开奖号码历史查询:Alliant Credit Union, 澳洲幸运5开奖号码历史查询:American Express, Avant, Axos, Best Egg, FourLeaf Federal Credit Union, BHG Financial, Blaze Credit Union, Blue Federal Credit Union, Boeing Employees' Credit Union, Citibank, Connexus Credit Union, Discover, ENT Credit Union, Fig Loans, 澳洲幸运5开奖号码历史查询:First Tech Federal Credit Union, Greenstate Credit Union, Happy Money, 澳洲幸运5开奖号码历史查询:Lake Michigan Credit Union, Laurel Road, 澳洲幸运5开奖号码历史查询:LendingClub, LendingPoint, LendingUSA, Liberty Federal Credit Union, 澳洲幸运5开奖号码历史查询:LightStream, Mariner, Money Key, Mountain America Credit Union, 澳洲幸运5开奖号码历史查询:NASA Federal Credit Union, 澳洲幸运5开奖号码历史查询:Navy Federal Credit Union, Netcredit, Old National Bank, OneMain, OppLoans, 澳洲幸运5开奖号码历史查询:Patelco Credit Union, PenFed, Personify Financial, PNC Bank, Prosper, Reach Financial, Regions, Reprise, Rocket Loans, 澳洲幸运5开奖号码历史查询:Santander, Service Federal Credit Union, SoFi, 澳洲幸运5开奖号码历史查询:Summit Credit Union,TD Bank, Teachers Federal Credit Union, Truist, 澳洲幸运5开奖号码历史查询:U.S. Bank, 澳洲幸运5开奖号码历史查询:Universal Credit, Upgrade, Upstart, USAA, 澳洲幸运5开奖号码历史查询:Wells Fargo, Zable.

How We Pick the Best Personal Loan Lenders

Investopedia’s list of the best personal loans is based on comprehensive research of 59 lendಞers. 

To evaluate and rank personal loan providers, we collected and scored over 2,600 data points from 59 lenders, including traditiona𓆏l banks, credit unions, fintechs, and finance companies. We researched and evaluated 45 criteria such as APRs, loan amounts and terms, fees, customer experience, and more. Research and data collection occurred from July 23 to Oct. 18, 2024. 

We organized the 45 criteria into four categories and weighted 26 (involving more than 1500 data points), using the others for backgro൩und and editorial richness. We then scored and weighted each criterion to develop our overall star rating for each lender. The categories and their weights for this project are:

• Borrowing Requirements: 24.00%
• Lender Features: 24.00%
• Loan Costs: 30.00%
• Loan Terms: 22.00% 

Learn more about how we evaluate personal loans and lenders in 澳洲幸运5开奖号码历史查询:our complete methodology.