FreedomPlus features

Here's a breakdown of some of the benefits and drawbacks of FreedomPlus personal loans.


  • Quick funding
  • Pay off your loan early
  • Joint loans


  • Availability varies by state
  • Origination fee

Whether you need money to consolidate credit card debt, make some home improvements, start a business or make a large purchase, a FreedomPlus personal loan can help you do it.

The lender offers loans of up to $40,000 with competitive interest rates and quick approvals that can get the money in your account in as little as 48 hours. Depending on the size and length of your loan, though, you may be on the hook for an origination fee of up to 4.99 percent. Here’s what you need to know about FreedomPlus personal loans before you apply.

Get pre-qualified

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.

FreedomPlus snapshot

Loan amount $7,500 to $40,000
APR 7.99% to 29.99%
Minimum credit score 620
Time to receive funds Within 48 hours

Pros and cons of FreedomPlus personal loans

FreedomPlus has a few benefits and drawbacks that are worth considering before you apply for a loan.


  • Quick funding: You can get same-day approval for a FreedomPlus loan, and the lender may deposit money into your account within 48 hours.
  • Pay off your loan early: Because FreedomPlus charges no prepayment fees, you have the flexibility to pay off your loan early and save on interest costs.
  • Joint loans: Unlike some online lenders, FreedomPlus allows you to add a co-borrower to your loan, which may increase the likelihood of you being approved if you have less-than-excellent credit.


  • Availability varies by state: The minimum amount you can borrow varies by state; in Arizona, for instance, you won’t be able to borrow any amount less than $10,500. FreedomPlus also does not offer loans in every state, so you’ll have to call a representative to find out if you’re eligible.
  • Origination fee: Depending on your loan amount and repayment terms, you may be charged an origination fee of up to 4.99 percent, which will be pulled from your loan proceeds.

Lending terms

FreedomPlus offers fixed-rate personal loans ranging from $7,500 to $40,000. In some states, however, the minimum loan amount can vary:

  • Arizona: $10,500
  • Georgia: $3,500
  • Ohio: $5,500

Repayment terms range from 24 to 60 months, and interest rates range from 7.99 percent to 29.99 percent APR. To qualify for the lender’s lowest interest rate, you’ll need to have excellent credit, borrow less than $12,000 and have a repayment term of 24 months. If you don’t meet those requirements, you can also qualify for the best rate if you:

  • Add a co-signer with sufficient income.
  • Use at least 85 percent of the loan amount to directly pay off a qualifying existing debt.
  • Show proof of sufficient retirement savings.

Once you apply for a loan, you’ll typically find out if you’re approved within two or three hours. If you then upload the required documents and sign the loan contract the same day, you could get your loan funds within 48 hours.

Fees and penalties

FreedomPlus doesn’t charge an application fee or prepayment fee, so you don’t have to worry about a penalty if you pay off the loan early. There is, however, an origination fee of 1.99 percent to 4.99 percent, as well as a late payment fee of $15 or 5 percent of the amount that’s due.

How to apply for a loan with FreedomPlus

You can apply online through the FreedomPlus website or by calling a loan consultant. To start the process, enter your state and check to see if the lender operates where you live. If it does, you’ll need to provide your name, employment status, income level, address and date of birth.

FreedomPlus will then run a soft inquiry on your credit report to see if you’re prequalified for the amount you requested. If you are, you’ll be given a phone number where you can speak with a loan consultant to complete the application process.

If you’re approved after a hard credit check, you’ll need to provide a valid ID, provide income and bank account verification and sign the loan contract to complete the process.

Before you sign a contract, though, take a few minutes to compare what FreedomPlus has to offer with personal loan rates from other top lenders.

Get pre-qualified

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.

How Bankrate rates FreedomPlus

Overall Score 4.3
Availability 4.2
Affordability 4.5
Customer Experience 4.3

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.