Zable Personal Loans Review (November 2024)

Who are Zable personal loans best for?

Best for fair credit

Zable personal loans are best for borrowers with fair or better credit who need same- day funding. The minimum score for loan approval is 600, which falls in the low end of the fair range (FICO scores between 580 and 669). Also, Zable is one of a small number of lenders that offer same-day funding if your loan is approved by its cutoff time. Zable's cutoff time is 3:30 p.m. ET on a business day.

Great for smaller loans and short-term loans

You can borrow as little as $1,000 with a Zable loan. That’s less than the minimum most other lenders offer. Zable also has repayment terms as short as 12 months, whereas competitors typically start at two years.

Pros and cons of Zable personal loans

No lender is perfect, and neither is any loan. But Zable loans have some benefits likely to outweigh shortcomings for many borrowers. Same-day funding is a major one. The ability to take out a small loan also makes Zable an attractive option.

As for the shortcomings, comparatively high rates, especially at the low end of the range, should encourage you to compare Zable’s loans with loans from other lenders.

Pros

• Same-day funding: Zable can fund your loan the same day you apply as long as you receive an approval by 3:30 p.m. on a business day and your state poses no restrictions on funding time.
• Small loan amounts available: You can borrow as little as $1,000 or as much as $35,000, with varying repayment terms. 
• Fair-credit borrowers may be eligible: Zable considers applicants with FICO scores as low as 600, which is much lower than many competitors. 
• Most personal loan uses considered: Some lenders limit how you can use their personal loans, such as for debt consolidation or credit card refinancing only. But Zable lets you use the money for a wide range of expenses, including home improvements, car repairs, debt consolidation, wedding expenses, large purchases, and many more.

Cons

• Limited availability: Zable loans are only available in 25 states and the District of Columbia.
• No discounts: Zable doesn’t offer discounts for direct payments made to creditors (for debt consolidation loans) or autopay.
• Origination fee: You could be charged an origination fee up to 9%, especially if you have fair credit.

How to qualify for a Zable personal loan

Zable’s website notes that it uses many data points in calculating rates, but it doesn’t disclose what those data points are or how they factor into loan decisions. 

Credit score and financial history

Zable doesn't share specific eligibility requirements for its loans on its website, but applicants through Credible should have a minimum 600 FICO score to qualify. Having that score doesn’t guarantee eligibility, however. Having sufficient income and low-enough debt relative to your income are also factors.

Income and employment

You’ll need sufficient income to make loan payments, and ideally a record of steady employment. If applying through Credible, you should earn at least $1,000 per month to have your application considered. 

Zable personal loan purposes

Zable approves personal loans for a wide range of purposes, including:

• Bill payments
• Car purchase or refinance
• Car repair
• Debt consolidation
• Emergency expenses
• Home repair or improvement
• Large purchase
• Moving expenses (not through Credible)
• Wedding
• Vacation

Like most personal loans, you can’t use a Zable personal loan for tuition, to pay off a student loan, or to make a down payment on a home purchase. 

Zable personal loan fees and penalties

Fees and penalties can add a considerable amount to the cost of a loan. Understand exactly what you’ll be paying and why before you accept a loan from any lender, including Zable.

Loan origination fees

You could pay an origination fee between 5% and up to 9% on a Zable loan. Any origination fee is accounted for in the loan’s APR, which is why you should compare APRs between loans before applying. 

If you are charged an origination fee, it will be deducted from the loan amount upfront. This means you’ll receive less than the amount you borrowed. 

No early repayment penalties

Like most personal loan lenders, Zable doesn’t charge a prepayment penalty. 

How Zable compares to other lenders

How to contact Zable

Zable has two customer service numbers and email addresses — one for current customers and one for all other inquiries, including information about personal loans. 

Current customers may call 254-272-6442 Monday through Friday, 8 a.m. until 9 p.m. ET. The email address is [email protected].

If you’re a prospective customer, the number for you to call is 844-779-2253. The line is open Monday through Friday, 8 a.m. until 9 p.m. ET. Alternatively, you may email your questions or concerns to [email protected].

About Zable personal loans

Zable is a newer U.S. personal lender, but it has a 10-year history in the U.K., where it has facilitated loans for hundreds of thousands of borrowers. Here in the U.S. it partners with Cross River Bank and New Horizon Bank to originate loans.

Rating Zable personal loans

Credible evaluated the best personal loan lenders based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, and fees. Credible’s team of experts gathered information from each lender’s website, customer service department, and via email support. Each data point was verified by a senior editor to make sure it was accurate and up to date.

Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.