Best for: No hard inquiry (when you apply)
No-credit-check loans often come with triple-digit annual percentage rates (APRs) and short terms that leave borrowers struggling to get out of debt. 60 Month Loans offers an alternative. APRs are capped at 36% and, unlike most personal loan lenders, there’s no hard credit check when you apply.
That means you can find out the exact rate and terms you’re eligible for without hurting your credit. This is a nice perk since hard inquiries can reduce your score for up to a year (typically), and a few points can make all the difference when it comes to being eligible for a loan with fair credit.
Good to know
The lender has excellent reviews on Trustpilot and doesn’t charge any prepayment penalties.
Good for: Low income and fair credit
60 Month Loans does consider your credit (score and history) when determining whether you qualify. A FICO score of 580 or higher is best — which is much lower than most other lenders and makes it an option for fair-credit borrowers — but the company claims to offer personal loans for bad credit as well. (A FICO score below 580 is considered a “bad” credit score.)
When you apply for a personal loan with 60 Month Loans, the lender will run a soft credit check with Experian and review your bank statements, which takes about one business day. A minimum income of $2,500 per year is required to qualify for a 60 Month Loan through Credible’s marketplace.
Related: What Is Debt-To-Income Ratio?
Important
The APR accounts for both the interest rate and any upfront loan fees, which vary by state, and shows the total annual cost of borrowing as a percentage of the loan amount.
Borrowers with fair credit
60Month Loans
4
Credible Rating
Est. APR
-
Loan Amount
$1,000 to $10,000
Min. Credit Score
580
Pros and cons
More details
What to consider before getting a 60 Month Loan
60 Month Loans may not offer the best personal loan rates for good credit, but APRs are much lower than other fair- and bad-credit options like payday loan lenders.
And because there are no prepayment penalties, repaying a personal loan from 60 Month Loans early can save you money on interest. What’s more, making on-time payments may actually improve your credit score, since 60 Month Loans reports your payments to the major credit bureaus.
Related: How Does a Personal Loan Affect Your Credit Score?
60 Month Loans eligibility requirements
You should ideally have a minimum FICO score of 580 and an income of at least $2,500 annually. To apply, you must:
- Be at least 18 years of age
- Be a U.S. resident with a Social Security number (SSN)
- Provide at least three months of bank statements
How to get a personal loan with 60 Month Loans
- Fill out the application: You can complete the application online in about 15 minutes. You’ll need to request an amount, provide contact info, include income and employment information, and submit your SSN and driver’s license or state identification information.
- Submit your bank statements: You’ll need to provide bank statements for the past three months using an instant bank verification or sending the PDFs by email.
- Take a call from the underwriter if necessary: The underwriter may call you to ask additional questions before making a decision about your application.
- Review your loan offer: Review the APR and term options offered by 60 Month Loans. At this point, you may also want to prequalify with a few other lenders for comparison.
- Sign your loan documents: Read through the documents carefully before signing.
- Receive the funds: Your loan funds will be transferred to your bank account via ACH transfer. If you accept your loan offer and sign the documents before 4:30 p.m. CST, the funds will be sent the next business day. But it could take a few days for the funds to become available, depending on your bank.
Learn More:
Tip
Most lenders let you prequalify to get customized rate estimates. Prequalification won’t hurt your credit, but you’ll need to formally apply to see final rates. At this point, most lenders conduct a hard credit check, which could hurt your score.
How to contact 60 Month Loans
To get help from a representative:
- Call: 844-707-7300 on weekdays between 9:00 a.m. and 5:00 p.m. PST or on weekends between 10:00 a.m. and 5:00 p.m. PST.
- Email: You can also email [email protected] any time.
How 60 Month Loans compares to other lenders
Note
Loan options from 60 Month Loans and OppLoans vary by state. The full range of loan amounts, APRs, and term lengths may not be available in all states.
Methodology
Credible evaluated the best personal loans based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, fees, discounts, and whether cosigners are accepted. Credible’s team of experts gathered information from each lender’s website, customer service department, in-house resources, and via email support. Each data point was verified to make sure it was accurate at the time of publication. See our full personal loans methodology for more detail.
FAQ
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