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


  • High minimum loan amount
  • 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 $50,000 with competitive interest rates and quick approvals that can get the money in your account in as little as 24 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 $50,000
APR 7.99% to 29.99%
Minimum credit score 620
Time to receive funds 24 to 72 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 24 to 72 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.


  • High minimum loan amount: The minimum amount you can borrow is $7,500 ($10,500 in Arizona), which is considerably higher than similar lenders’ lowest amounts.
  • 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 $50,000. In Arizona, however, the minimum loan amount is $10,500.

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 24 to 72 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.

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 loan amount and purpose and then your state to check 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 so 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 and income and bank account verification and sign the loan contract to complete the process.

Before you sign a contract, though, 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 FreedomPlus offers quick approval and funding, but its minimum loan amount is high.
Affordability 4.3 FreedomPlus’ minimum APR and fees are not unreasonable, though they are higher than those of similar lenders.
Customer Experience 4.3 You can apply for your loan completely online. However, FreedomPlus does not specify customer service hours.

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.