With a personal loan from the American Bank, you can quickly access funds for your one-time financing needs, whether it’s consolidating your debt or covering a large expense. US Bank offers unsecured personal loans ranging from $ 1,000 to $ 25,000 to existing US Bank customers. The loan term is between 12 and 60 months.
US bank loans carry low interest rates based on your creditworthiness, which includes an automatic payment discount of 0.50%. Borrowers with higher credit scores are more likely to qualify for low spectrum interest rates. Similar to other top providers, US Bank does not charge any origination fees and there is no prepayment penalty, which means you can always make loan payments before they are due.
Applying for a bank loan in the United States is simple and can be done online; however, you must be a current customer of the US bank. Some customers may need to visit a US bank branch if additional information or documents are required.
Eligibility: US Bank requires applicants and co-borrowers to be existing customers of US Bank for at least 120 days. If you are a current customer, you are eligible for a personal loan with a minimum credit score of 680. This requirement also applies to secondary borrowers who have taken out a joint personal loan.
When applying for a joint personal loan, you will need to sign in in person, so you and the co-borrower must live near a physical location. US Bank has branches in 26 states, including Arkansas, Arizona, California, Colorado, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Minnesota, Missouri, Montana, North Carolina, North Dakota, Nebraska, New Mexico, Nevada, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin and Wyoming.
Uses of the loan: US Bank personal loans can be used for any purchase or product in addition to home or school expenses. For example, they can cover vacation expenses, home renovations, and medical bills, or help consolidate debts, like credit cards.
Completion time : An applicant will typically learn their loan approval status in less than a minute. If you are eligible for the personal loan, you can finance your loan online; however, you may need to visit a branch if a US bank representative needs more information. After your loan closes, the funds are available within one business day.