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OppLoans Personal Loans: 2024 Review

Updated on April 29, 2024

At a glance

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Check rate with Bankrate
Rating: 4.2 stars out of 5
Bankrate Score
Caret Down
Rating: 4.8 stars out of 5
Rating: 2.9 stars out of 5
Customer Experience
Rating: 5 stars out of 5
Rating: 4.2 stars out of 5

About Bankrate Score

Bankrate’s take: OppsLoans offers an option for borrowers who don’t qualify for bad credit personal loans. Although its loans come with triple-digit rates, they are about half the cost of comparable payday loans with longer repayment terms. 

Lender Details


Loan amount



APR from

160.00% to 179.00%

Clock Wait

Term lengths

9 to 18 months

What’s new with OppLoans?

OppLoans partnered with Zogo, a financial education platform, to give its customers access to lessons on saving money, budgeting, credit applications, repaying debt and other financial resources. The collaboration was announced on April 1 in celebration of National Financial Capability Month.

Bankrate User Stats

Bankrate users taking out personal loans from OppLoans have followed the below trends and stats:

  • Average funded loan amount: $1,731
  • Funded loan range: $500-$22,511
  • Average funding time: 1.2 days
  • Lowest APR of funded loan: 10.99%
  • Average APR of funded loan: 159.60%
  • Amount of loans funded through Bankrate since 2022: 6,246
  • Popular loan purpose trends: 38.6% of OppLoans borrowers on Bankrate take out personal loans for emergencies, more than any other loan purpose.

OppLoans is best for borrowers who need better terms than payday loans

If you’re having trouble making ends meet but want to avoid the two-week payoff timeline of a payday loan, OppsLoans may be worth a look. The rates are very high for a personal loan but much lower than you’ll find with a payday loan. The longer repayment terms give you months, instead of only two weeks, to get caught up on your finances.

OppLoans personal loan purposes

Borrowers can use funds from an OppLoans loan for just about anything. However, the high annual percentage rates (APRs) and short terms make them a better choice for emergency car or home repairs, or to finance a medical debt. They are also a good alternative to payday loans. OppLoans allows payoff periods as long as 18 months, compared to the two weeks you have to pay back a payday loan. 

More than one in three OppLoans borrowers on Bankrate used the funds to pay for emergency expenses.

Where OppLoans stands out

  • Same day funding possible: If you’re in a financial crisis, you can have funds the same day you apply, making it a good emergency loan choice.
  • Cheaper than payday loans: You’ll pay less than half the APR costs that you’d pay with a payday loan. The longer repayment terms also give you more time to pay the balance off. 
  • Higher loan maximums than payday lending: You can borrow up to $4,000 with a loan from OppLoans, compared to the $500 cap many states impose on payday loans.
  • Seven-day-a-week customer service: Phone support is available every day of the week, with extra support available on the weekends. 

Where OppLoans falls short

  • Very high APRs: The lowest APR is more than four times higher than the highest typical bad credit personal loan rate
  • Shorter terms than regular personal loans: Most bad credit lenders offer terms between 24 and 60 months. These longer terms give you a lower monthly payment than OppLoans’ 18-month maximum term.
  • APRs are not disclosed prominently: You’ll have to scroll down to the fine print to get an idea of the APRs OppLoans charges. This may surprise borrowers unfamiliar with this type of loan option. 
  • No lower rate refinance options: Although OppLoans mentions refinance options, refinancing with OppLoans only lets you borrow more money. It does not reduce the APR you’re paying to save monthly, which is the typical reason for refinancing a personal loan

OppLoans customer experience

Customer support

OppLoans offers phone customer service support Monday through Friday from 7 a.m. to 11:30 p.m. CT and Saturday and Sunday between 9 a.m. and 5 p.m. CT. The company also lists an email address for online support questions. 

Digital experience

Although OppLoans doesn’t offer an app, the website offers financial education lessons though its OppU section. Users can enroll in courses to learn about spending, credit, debt and budgeting. The OppU blog features a number of different articles on a variety of different personal finance topics. 

What people are saying about OppLoans 

As of June 2024, most OppLoans reviews on Trustpilot and other online sites are positive. Of over 4,300 reviews, 83 percent of consumers gave the company a 5-star rating. Positive reviews reference quick approval and the ease of getting loan funds. 

It can be an especially good option for those looking for smaller loans. Here’s what one borrower had to say:

"OppLoans is great very fast I requested a small loan of $1000 on Saturday and got it Monday morning with no problems and my repayment fits great into my pay schedule."

Trustpilot User

However, not everyone has had positive experiences with OppLoans. Some reviewers mentioned steep interest rates:

"Don't waste your time with this company. The loan is higher interest than expected and take forever to respond. I wouldn't recommend them ever."

Trustpilot User

Customers may be surprised by their offered rates because OppLoans’ APRs are only featured in fine print. Some personal loan lenders instead display their APR ranges prominently.

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

How this lender compares

Rating: 4.2 stars out of 5
Bankrate Score
APR from
160.00% to 179.00%
Loan Amount
Term Length
9 to 18 months
Min Credit Score
Not disclosed
Rating: 4.3 stars out of 5
Bankrate Score
APR from
34.99% to 99.99%
Loan Amount
Term Length
6 to 60 months
Min Credit Score
Not disclosed
Rating: 4.4 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24-60 months
Min Credit Score
Not disclosed

OppLoans vs NetCredit

OppLoans is better for smaller loan needs, with a minimum loan amount of $500 compared to NetCredit’s $1,000 minimum. NetCredit also charges an origination fee of up to 10 percent, whereas OppLoans doesn’t have any fees beyond its APR charges. 

NetCredit has much lower APRs, with minimums of 34.99 percent, making it comparable with bad credit personal loan rates. If you need more than OppLoans’ $4,000 loan amount maximum, you can access up to $10,000 at NetCredit, if you qualify.

Read a full comparison of OppLoans vs. NetCredit

OppLoans vs. OneMain Financial

OppLoans is a better choice if you want to pay off emergency funds quickly and can’t qualify for a OneMain loan. It offers terms as short as nine months compared to OneMain Financial’s 24-month minimum. 

You could also shell out up to 10 percent of your loan amount toward fees with a OneMain Financial loan, compared to no fees at OppLoans. However, as OneMain’s maximum rate of 35.99 percent is less than a fourth of OppLoans’ minimum rate, a OneMain loan is cheaper even considering the fee. 

OneMain Financial is a much better choice if you qualify for their lowest minimum APR of 18.00 percent, compared to the 160.00 percent minimum you’ll pay at OppLoans. You will also have much more borrowing power at OneMain, with a maximum loan amount of $20,000. That is $16,000 more than you can borrow at OppLoans.

Do you qualify for an OppLoans personal loan? 

OppLoans qualifies you mostly on your income rather than your credit score. To get approved, you’ll need:

  1. Proof of your income such as paystub, W2, award letter.
  2. Proof of employment such as a contact number for human resources.
  3. Proof of your social security number.
  4. A state ID, driver's license or other proof of ID.
  5. Banking information.

How to apply for a personal loan with OppLoans

1. Get a quote

Apply online on OppLoans website. OppLoans does not have an app, so you’ll need to complete your application through the lender’s portal. 

2. Add information and finalize your application

Gather legible copies of the documents the lender requests. Unreadable documents could delay your approval and funding. 

3. Review the loan details

You’ll receive a schedule of payments with the APR and payoff date. You can sign the documents electronically and should receive your funds within the same or next business day. 

Get Prequalified for a Personal Loan

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 OppLoans

Overall Score 4.2 Explanation
Availability 4.8 Easy approval process with little documentation needed and same-day funding possible
Affordability 2.9 Extremely high APRs compared to standard bad credit personal loans
Customer Experience 5.0 Support available every day of week, with helpful educational content on the website
Transparency 4.2 APRs, terms and loan amount ranges aren’t clearly displayed on website


Bankrate's trusted personal loans industry expertise


years in business


lenders reviewed


loan features weighed


data points collected

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

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.