US Bank Personal Loan Review 2022 | Get 50K Soft Pull Loan

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U.S Bank Overview

U.S Bank provides personal to borrowers up to $50,000 with a credit score of 660. U.S Bank has physical location branches in more than 25 states. U.S Bank offers short and long-term personal loans with a fixed APR of 5.99%.  Also, there are options for non-customers willing to open a savings or checking account. 


Pros

  • Loan amount starting from $1,000 - $50,000
  • Co-signers are accepted & Soft Pull available on the website. 
  • U.S. Bank doesn't charge an origination fee or prepayment penalty.
  • Able to fund loans within one business day.{alertSuccess}

Cons 
  • At U.S Bank you may require an in-person visit.
  • US Bank charges a Late fee
  • U.S Banks loans are available only to current U.S. Bank customers and those willing to open an account.  {alertError}

 

Can Be Used as Debt Consolidation Loan

U.S Bank offers personal loans for many purposes such as debt consolidation, home improvements, and big purchases. So if you are looking for a big loan amount then U.S Bank can be the best option for you if you have a bad credit score.

Annual Interest Rate and Fees

At  U.S Bank the annual percentage rate is from 5.9% to 19.49% which can vary based on your credit score. If you have a low credit score then your apr will be high and if you have a good credit score then your apr will be low so it is directly proportional to your credit score.


Minimum Credit Score Required

The minimum credit score required to get a personal loan is 660 which comes under the category of good to fair credit. Also if you have bad credit or if your credit score is less than 660 then you can apply for this loan if your credit history is good then you may get approval from this us bank

Offered Loan Amount

U.S Bank offers personal loans from $1,000 - $50,000. 

Key-Factors of Loan

  •  US bank charges a late fee
  •  US bank gives rate discount for auto payments
  •  Funds are available within one business day
  •  US bank does not offer direct payment to creditors for debt consolidation loans
  • Not available in AL, AK, CT, DE, FL, GA, HI, LA, ME, MD, MA, MI, MS, NH, NJ, NY, NC, OK, PA, RI, SC, TX, VT, VA, WV AND WASHINGTON, D.C.
  •  Does not give you the option of pre-qualification
  • US Bank Branches can be found in these states
  1. Arizona.
  2. Arkansas.
  3. California.
  4. Colorado.
  5. Idaho.
  6. Illinois.
  7. Indiana.
  8. Iowa.
  9. Kansas.
  10. Kentucky.
  11. Minnesota.
  12. Missouri.
  13. Montana.
  14. Nebraska.
  15. Nevada.
  16. New Mexico.
  17. North Carolina.
  18. North Dakota.
  19. Ohio.
  20. Oregon.
  21. South Carolina.
  22. South Dakota.
  23. Tennessee.
  24. Texas.
  25. Utah.
  26. Washington.
  27. Wisconsin.
  28. Wyoming.


Eligibility Criteria 

There are some basic requirements you should fulfill before taking a bad credit loan. Here is the list :
  1. You should be at least 18 years old
  2. You must be a United States citizen or have a US Visa
  3. You must have a valid active US bank checking account
  4. You have to provide a valid email address and a phone number

Required Documents

  • Valid Identity Proof, VIsa
  • Have to provide a DOB.
  • Valid current mobile number and Email id.
  • An active American bank account.

Repayments Terms

 the repayment terms of this loan are up to 60 months which means 5 years it will depend upon how much loan you are qualified for and then it will decide what repayment term you will get

Example of the U.S Bank loan

A two-year, $7,000 loan with a 15.5% APR would cost $341 in monthly payments. You’d pay $1,186 in total interest on that loan.

How to Apply for U.S Bank :

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Who is this loan good for

  •  People who are already US bank customers
  •  Borrowers who want money as soon as the next business day
  •  People who want their loan process offline


Editorial NoteMakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers' experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}
Alex Jawer

Alex is a curious content writer and Finance enthusiast. He is very passionate about sharing his finance knowledge with the world. He had completed his Post Graduation in MBA Finance from McCombs School of Business, Texas, United States.

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