Grace Enfield, Content Writer
@grace_enfield
No, OppLoans does not approve everyone, even though there’s no minimum credit score requirement. To qualify for an OppLoans personal loan, you need to be at least 18 years old, own a valid bank account and have enough income to make the monthly payments, among other requirements. Even if you meet all the requirements, you still may not get approved.
OppLoans Personal Loan Requirements
- Age Requirement: 18+ (19 in AL and NE)
- Credit Score Requirement: No credit check
- Income Requirement: $18,000 p/y
- Citizenship Requirement: U.S. citizen or permanent resident
- Bank Account Requirement: Verifiable bank account with transaction history of at least 90 days
- Identification Requirement: Social Security number
- Residency Requirement: Live in one of the 37 states where OppLoans operates or in the District of Columbia
For more information, check out the full OppLoans personal loan review on WalletHub. You can also estimate your potential rates with our free pre-qualification tool.
People also ask
Does OppLoans verify income for personal loan applications?
OppLoans will verify your income when you apply for a personal loan. OppLoans requires a minimum annual income of $18,000 to ensure that you can make your monthly payments, and if you don’t meet the minimum income requirement, you likely won’t get approved.
If you receive alimony, disability benefits, or Social Security benefits, you may have to provide proof of income by submitting a paystub, your most recent benefit/award letter, 1099, or W-2. However,...
read full answer by Grace Enfield, Content WriterDoes OppLoans do a hard inquiry?
OppLoans does not perform a hard inquiry into your credit history when you apply for a loan, which makes it easy to get approved and means applying won't hurt your credit. When deciding if you can qualify for a personal loan with them, OppLoans will consider other factors such as income, debt load, age, and residency.
OppLoans typically caters to people with bad or no credit. However, loans from OppLoans are usually much more...
read full answer by Rick Bormin, Personal Loans ModeratorHow do I apply for an OppLoans personal loan?
To apply for an OppLoans personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for an OppLoans Personal Loan
- Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an OppLoans personal loan. It doesn't hurt...
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