Prosper Personal Loan Review

Personal Loan from Prosper - see full info about rates, terms, credit score.

Updated November 29, 2022
Advertiser Disclosure
2.36 out of 5
Check rates
On partner's site

Check your personal loan rates

scorer
APR Range
7.95 - 35.99%
scorer
Amount
up to $40,000
scorer
Term
up to 60 months
scorer
Minimum credit score:
Fair (580-669)
scorer
No early payoff penalty
See full info about rates in different states

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Options

  • Loan purpose:
    Personal Loan
  • Lender:
    Prosper Funding, LLC
  • Bank:
    WebBank
  • Credit Level:
    Fair (580-669)
  • When funds are available:
    1 business day.

Fees

  • Origination fee
    2.41 - 5%
  • Late fee
    $15
  • Check processing fees
    $5
  • Returned check fees
    $15

Pros & Cons

Pros:
  • Fast approval and funding
  • Simple application process
Cons:
  • Origination fee
  • Extra Fees
  • No Autopay Discount
  • Not available in all states

Rates

Rates
7.95 - 35.99%
Term
36 - 60 months
Loan Amount
$2,000 - $40,000
List of states where Prosper loan is not available:
  • Iowa
  • West Virginia
View all Rates & Fees

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 640 or higher.
  • Ages

    To qualify, you must be at least 18 years old.

  • Requirements Description
    • Personal information (name, address, phone number, and email)
    • Minimum credit history: 2 years
    • No bankruptcies filed within the past year
    • Social Security number and a U.S. bank account

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2.97 out of 5
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Description

  • Prosper offers fixed-rate APRs that vary from 7.95% to 35.99%. Loan terms are available for 3 or 5 years.

    The origination fee ranges from 2.41% to 5%. Prosper charges $15 for failed payments or returned checks. Payments that are 15 or more days late are assessed a late fee.

    If you don't qualify for a personal loan with Prosper, consider applying with a co-applicant.

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