Eloan.com was founded in 1997 with the goal of connecting consumers with high-quality personal loans with the help of new technology. However, Eloan became a division of Banco Popular de Puerto Rico in 2016, which brought with it over 124 years of experience in the banking industry.
While many modern banks offer an array of products including checking and savings accounts, home equity loans, and mortgage loans, Eloan still focuses only on the product they do best — unsecured personal loans. This means they’re able to offer some of the lowest cost loans on the market to qualified borrowers, which is a huge plus for consumers.
If you’re in the market for a personal loan and looking for the most affordable online option available, keep reading to learn more.
Eloan Key Takeaways:
- Borrow up to $35,000 with an unsecured personal loan.
- Fixed interest rates start at 5.49% APR for qualified borrowers.
- Eloan personal loans come with no origination fees, no application fees, and no hidden fees.
- Get pre-qualified for a personal loan without a hard inquiry on your credit report.
Check Your Personal Loan Rates
Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.
Eloan Personal Loans Review
Consumers who need access to a personal loan and don’t want to apply in a physical bank branch should absolutely check out Eloan. This company offers one main loan product — an unsecured personal loan — in amounts up to $35,000. You can use this loan to consolidate debt, pay for a home remodeling project, finance a wedding, or for any other reason. The best part is, Eloan offers very competitive interest rates to consumers who qualify, along with no origination fees, no application fees, and no hidden fees.
To get specific, Eloan interest rates start at 5.49% APR. That’s lower than most top lenders we’ve profiled on The Simple Dollar, including Marcus by Goldman Sachs, Earnest, and SoFi. Combine that with the fact that Eloan personal loans don’t charge any fees, and they’re one of the lowest cost loan options available online — at least for those who can qualify for their best available terms.
Another benefit of Eloan is the fact they let you get pre-qualified for a personal loan without a hard inquiry to your credit report. This puts you in the best position to shop…