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Personify Personal Loans: 2023 Review

Updated on Jan. 1, 2023
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At a glance

Rating: 4.2 stars out of 5
Bankrate Score
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Rating: 4.8 stars out of 5
Rating: 3.2 stars out of 5
Customer Experience
Rating: 4.7 stars out of 5

About Bankrate Score

San Diego–based Personify Financial offers unsecured installment loans of up to $15,000, with loan amounts and terms varying by state. Its loans are designed for people who may have trouble finding funding with other lenders. While this lender is willing to look beyond credit scores during the application process, annual percentage rates (APRs) are sky-high.

Loan amount $500 – $15,000
APR from 19.00% – 199.99%
Clock Wait
Term lengths 12 to 48 months
This lender is best for fair and bad credit borrowers who don't qualify for other options.

Best for fair and bad credit borrowers

Due to its lessened eligibility requirements, this lender is best for fair and bad credit borrowers who don't qualify for other options.

LightStream pros and cons


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    Eligibility requirements

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    Origination fees

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    Limited availability


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    Sky-high APRs

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    Requires a long credit history

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    No preapproval process

Do you qualify?

While Personify doesn’t advertise a minimum credit score for eligibility, the lender says it’s willing to look at factors besides your credit, but you must have a valid checking account to take out a loan. 

Generally, people with higher credit scores get better interest rates. If you have a high interest rate, try to pay more every month to chip away at the debt faster and save on interest costs.


What Personify doesn't allow loan funds to be used for

Personify personal loans can be used for any legal personal purpose, like debt consolidation, vacation costs, paying down an emergency expense or paying for a home remodel. 

Borrowers may be unable to use personal loan funds for certain business or education-related expenses.

Personify versus Upstart

Upstart looks at factors other than just credit score, and like Personify, has flexible eligibility criteria. However, Upstart does offer much lower interest rates and a higher borrowing maximum. Due to its astronomically high APR range, borrowers with less-than-stellar credit should consider a lender like Upstart before turning to Personify.

Personify versus OneMain Financial

OneMain Financial offers both unsecured and secured loans, so borrowers who wouldn't otherwise qualify may be able to take out a secured loan (which is backed by collateral). Both lenders have similar terms and APRs, but those with an established credit history may want to go with OneMain before turning to Personify; those with bad credit risk thousands of dollars in interest charges with Personify.

Personify: in the details

What we like and what we don’t like

Personify allows borrowers to take out a personal loan who wouldn't otherwise get approved. However, there are drawbacks that come with the lender. Here's what to know before applying.

What we like

  • Eligibility requirements: Unlike most lenders, Personify has flexible eligibility requirements and bases approval on factors other than credit score. 
  • Loan prequalification: Borrowers can prequalify, which lets them see their eligibility odds and predicted terms with no impact to their credit score prior to applying.
  • No prepayment penalty: Personify doesn't charge fees for paying off their loan balance early, which can help save on interest charges.

What we don't like

  • Sky-high APRs: Rates start at 19 percent and go as high as 199.99 percent in some states. An APR this high could cost you thousands of dollars, so those with good credit should look elsewhere. 
  • Origination fees: While Personify doesn’t charge an application fee, you may have to pay an origination fee of up to 5 percent of the loan amount, depending on your state of residence. 
  • Limited availability: Personify isn’t available in every state, and you can’t get a loan if you don’t live within the lender’s footprint.

How to contact Personify

Personify does offer a support phone number at 888-578-9546, along with an online chat option if you have any specific application questions, but you’ll have to fill out your application entirely online.

You can contact customer service via phone Monday through Friday from 8:00 a.m. to 9:00 p.m. CT and on Saturday from 8:00 a.m. to 5:00 p.m. CT.


How to apply for a personal loan with Personify

You can complete Personify’s prequalification application online in just minutes. Head to its website and click “Get Started Now.” You’ll enter your name, email address and ZIP code to see your potential loan offers. If you prequalify and decide to officially apply for a Personify Financial loan, here are the steps you can expect to take:

Features and additional perks

Along with its flexible eligibility and wide acceptance range, Personify offers perks and benefits to help borrowers grow in their financial health. Among others, borrowers can access their FICO score and articles about money and debt management.

Fees and penalties

Personify doesn’t charge a prepayment penalty, so you can pay your debt early and save on interest. It also doesn’t charge an application fee.

However, the lender does charge a late fee and a nonsufficient funds fee. And depending on your state, you may be on the hook for an origination fee that can reach 5 percent of the loan amount.

The origination fee is taken from the money you receive upfront. So if you borrow $5,000 and you’re charged a 5 percent origination fee, you’ll only receive $4,750. Over the life of the loan term, you’ll make payments (and pay interest) on the entire $5,000. Factor in this cost when calculating the total amount you want to borrow.

Personify frequently asked questions

How Bankrate rates Personify

Overall Score 4.2 Explanation
Availability 4.8 Personify offers fast funding and a variety of loan amounts.
Affordability 3.2 Personify has unusually high APRs and a few fees, including an origination fee.
Customer Experience 4.7 Online access is available.


To select the top personal loan lenders, Bankrate considers 15 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed 41 lenders and gave each a Bankrate rating, which consists of three categories:

  • 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.
  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.

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.