Figure previously offered personal loans to consumers with good credit. You can borrow between €5,000 and €50,000 and choose a payment term between 36 and 60 months. Additionally, financing times were fast – just one to two business days for most borrowers – and rates were some of the most competitive in the industry.
Alternatives to personal loans from Figure
Although figure loans are no longer an option in the personal lending field, there are other lenders you can consider to finance your purchase.
| Lender | APR range | Loan amounts |
|---|---|---|
| Upgrade | 8.49%-35.99% | $1,000 – $50,000 |
| TD bank | 8.99%-23.99% | $2,000 – $50,000 |
| Reaches | 8.99%-3.99% | $5,000 – $50,000 |
Upgrade
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Personal loans from Upgrade are designed to make debt consolidation, home improvements and major purchases are becoming easier for consumers from different financial backgrounds. You can borrow between $1,000 and $50,000 with interest rates from 8.49 percent to 35.99 per cent. If approved, you will receive the loan goes through as soon as the next one day, which should appeal to consumers who liked Figure’s fast financing.
So are the eligibility criteria flexible, because Upgrade knows you are more than your credit rating. You need a FICO credit score of 600 to qualify, which is within the reasonable credit range. Please note that you have a origination fee between 1.85 percent and 9.99 percent. Further, like most personal loans, this one cannot be used cover higher education costsgambling or purchasing investments.
Positives
- Fair credit accepted.
- Choose your due date.
- Low minimum loan amount.
Cons
- Origination fee.
- High maximum APR.
TD bank
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TD bank is also worth considering if you have a credit score of at least 700 and are looking for a personal loan at minimal costs. With the Fit Loan solution you can borrow between €2,000 and €50,000 for 36 to 60 months. Your fixed interest rate will range between 8.99 percent and 23.99 percent, which is competitive with others in the industry.
Plus, there are no fees to apply for a loan or start a loan, and neither will you risk a fine if you decide to do so pay off the loan early. In terms of financing times, you can receive loan proceeds in as little as one business day, making the TD Bank Fit Loan worth considering to get cash quickly.
Positives
- Low starting APR.
- Suite of banking products available.
- Prequalification available.
Cons
- Fewer terms are offered.
- Strong credit score required.
- Limited availability.
Reaches
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Reaches offers a holistic approach to making credit decisions, considering your entire financial picture rather than just your creditworthiness. It offers personal loans to individuals with a credit score of at least 620 who meet the income and debt criteria. APRs start at just 8.99 percent and cover up 35.99 per cent. Loans range from $5,000 to $50,000, and repayment periods of two to five years are available.
There are no hidden fees or penalties for early repayment, but you will pay an origination fee between 1.99 percent and 6.99 percent. The advantage is that you may qualify for an interest discount if you have a qualified co-borrower on your application, provide proof of sufficient pension assets or sign up for Direct Pay when applying for a debt consolidation loan. Most applicants receive a financing decision the same day, and loan proceeds are typically deposited within 24 to 72 hours of final approval of the loan application.
Positives
- Fast financing.
- Low starting APR.
- Fair credit accepted.
Cons
- High maximum APR.
- Origination fee.
- Limited availability.
Why does Figure no longer offer personal loans?
Figure has shifted its focus from personal loans to helping homeowners leverage their home equity to achieve financial goals. It currently offers cash-out refinancing loans and home equity lines of credit (HELOCs) across its line of lending solutions.
