Applying
How do I apply for a Loanify loan?
Select your amount on the Loanify home page, then complete the short online application. You'll share your name, address, income, housing cost and bank details. It takes about five minutes.
Does checking my rate affect my credit score?
No. Loanify uses a soft credit inquiry to show your options. A hard inquiry may happen only if you choose an offer and continue.
What documents might I need?
Usually a government-issued photo ID and proof of income such as recent pay stubs, a benefits letter or bank statements. Self-employed applicants may be asked for tax returns or 1099 forms.
Can I apply with a co-borrower?
Loanify loans are currently individual loans. Each applicant must qualify on their own income and credit.
Which states is Loanify available in?
Availability, maximum amounts and pricing vary by state because each state regulates consumer lending differently. Your application will confirm whether Loanify loans are available where you live.
Rates & costs
What APR will I get from Loanify?
Loanify APRs range from 5.99% to 35.99%. Your APR depends on your credit profile, income, debt-to-income ratio, loan amount, term and state.
Are there any fees?
There is no fee to apply and no prepayment penalty. Some loans may include an origination fee, which is always included in the APR and shown on your offer before you sign. Late or returned payments may incur fees where permitted by state law.
Can I pay off my loan early?
Yes, at any time and with no penalty. Paying early reduces the total interest you pay.
Funding & repayment
How quickly are funds deposited?
Typically the next business day after you sign your loan agreement, via ACH direct deposit. Some banks post deposits later in the day.
How do I make payments?
Most borrowers use automatic payments from their checking account. You can also make one-time payments by debit card or bank transfer through your account dashboard.
What if I can't make a payment?
Contact us before your due date. Depending on your situation and state law, we may be able to move your due date or set up a short-term payment arrangement. Reaching out early gives you the most options.
Can I change my payment date?
In most cases, yes. Contact support at least three business days before your current due date.
Credit & security
Does Loanify report to the credit bureaus?
Yes. Payment activity is reported to major credit bureaus. On-time payments can help your credit; late payments can hurt it.
How is my information protected?
Your data is transmitted using 256-bit TLS encryption and handled according to our Privacy Policy. Loanify will never ask for your online banking password by phone or email.
Is Loanify legit?
Loanify publishes its rates, lending disclosures, privacy policy and editorial standards, and never asks for upfront fees. See our guide on how to verify any online lender at /learn/is-loanify-legit/.
Will Loanify ever ask me to pay an upfront fee?
Never. Any request to pay money before receiving a loan is a scam. Report it to us and to the FTC.