Personify Personal Loan Review 2023

Personify offers personal loans for borrowers with fair and poor credit. Learn more about Personify including pros and cons and fees.
Written by:
Kenya McCullum
Edited by:
Kristin Marino verified
Editor's Rating

Do you need a personal loan quickly, but you’re concerned that you won’t qualify because of your credit history?

Personify may be the answer. The company, as you may have guessed from its name, strives to provide personal loans with a human touch, and one way it does this is by not holding applicants’ credit history against them when they need a loan.

As a result, Personify provides unsecured loans to those who may have trouble getting approved elsewhere because of their credit score. Continue reading to find out more about Personify and how it may be able to help you.

Compare Your Personal Loan Rates
Check Your Personal
Loan Rates
Choose a purpose for your loan
Always free and will not impact your credit score.

Personify At-a-Glance

Here is a quick look at what Personify has to offer:

  • Loans are available to people with bad credit
  • Loan amounts range from $500 and $15,000
  • Loan terms for repayment are between one and four years
  • Consumers can go through a prequalification process to find out specifically what kind of terms are available to them
  • Application process can be completed quickly
  • Funds are disbursed quickly upon application approval
  • No fees are charged for putting in an application or for paying off the loan earlier than the terms outline
  • Customer support is easy to get in touch with.

Find and Compare the Best Personal Loans

Finding the best personal loan to meet your needs is as simple as using our search tool. Compare personal loans and find the best rates being offered today.

Compare to Others Personal Loans

There are many options out there for personal loans, so it’s a good idea to keep your eye on other lenders to make sure you choose the right one for you. Below we take a look at a few different companies to give you a sampling of what else is available.

Universal Credit

Universal Credit is a lender that provides loans to people who don’t have good credit, like Personify does. Both lenders also charge high interest rates and origination fees on its loans. However, Universal Credit offers a maximum loan amount of $50,000, which is much higher than Personify’s $15,000 maximum.


Like Personify, Achieve is dedicated to providing loans to those who don’t necessarily have perfect credit. The digital personal finance company charges high interest rates and origination fees as Personify does. Also, Achieve similarly does not charge a prepayment penalty.

Achieve is different from Personify in that you’re able to take out a higher maximum loan amount at $50,000. Also, the company offers discounts to its customers, including for people who apply for a loan with a co-borrower, and those who provide proof of having retirement savings or sign up for direct payments.


Avant and Personify are similar in that they provide loans for those with bad credit, and also both charge origination fees and high interest rates. Also, both lenders have a prequalification process that does not affect your credit score.

Unlike Personify, Avant does not make direct payments to its lenders, which can be a good thing if, for example, you have overdue credit cards and you’re getting a lot of collection calls. This way, you can immediately stop collection efforts because Avant will pay your creditors directly for you when the loan is approved.

Also, Avant has customer service that’s a little bit more robust than Personify does. You can reach their customer service line seven days a week, compared to Personify’s six days a week, and also the company offers a mobile app for customers to manage their account.

Who Is a Personify Personal Loan For?

Personify personal loans are for people with bad and fair credit who may need money quickly to fund an emergency expense. As such, the company charges interest rates that are much higher than you may find from other lenders. It may be best to think of Personify as a last resort option because of the interest rates, or find a friend or family member with good credit to cosign for you on the loan so you can get more favorable rates.

Top Features of the Personify Personal Loan

Learn about some of the top features of personify personal loans including prequalification, loans for bad credit, quick application process, and more.

Good for Those With Bad Credit

Life happens, and sometimes people end up with a less-than-stellar credit score. Personify provides loans for people who don’t necessarily have squeaky clean credit, so you’re able to get the funds you need despite whatever has happened with you financially in the past.

Ability to Prequalify

Before formally applying for a loan, Personify has a prequalification process that allows you to find out what kind of terms are available so you know exactly what you’d be getting into when you take out a loan.

Fast Application Process

Personify has a fast application process, so you can get an answer about your application quickly. In some cases, you may even receive an answer on the same day.

Quick Funding

After you have been approved for a loan, you receive the funds in about two business days.

Good Customer Support

If you need help with your account, Personify has customer support available from 8 a.m. to 9 p.m. Central Time on Monday through Friday, and 8 a.m. to 5 p.m. Central Time on Saturday. Also, if you would prefer to chat with a customer service representative online, Personify’s website has a chat feature available.

How to Get Started

The first step of applying for a Personify personal loan is to enter your information on the company’s website to see if you prequalify. When you do this, it won’t be reported to the three credit bureaus — Equifax, Experian, and TransUnion — so you don’t have to worry about your credit score being impacted by this inquiry. After entering your information, you get the opportunity to see what loan offers would be available to you so you can decide if you want to move forward.

If you do want to continue, you’ll need to fill out a formal application, which will trigger a hard inquiry on your credit reports that can affect your score. You can expect to receive a decision about your application quickly — in some cases, even instantly. After you’ve been approved, the funds will be deposited into your bank account within two business days.

Rating the Features

Whether you need a personal loan to deal with a crisis or you want the funds to do something enjoyable, you want to know the lender is going to give you the best experience possible.

Let’s take a look at the features Personify offers so you get an idea of what to expect when working with this company.

User Experience

Personify makes the process of applying for a loan simple. All you have to do is go to the company’s website — which can be done on a personal computer, tablet, or mobile phone — and provide basic information.

You will be asked for proof of your current address, as well as your Social Security number, government issued-identification, income and job information, and your checking account number.

This painless process can be completed in minutes, and if the company needs more information to process your application, you will be notified in a timely manner.


You will not be charged an application fee or prepayment penalty when you take out a loan from Personify.

However, you will be charged an origination fee that is 5% of your loan amount. Also, the company charges late fees, as well as non-sufficient funds fees if your bank account doesn’t have enough money to cover a monthly payment.

Unfortunately, Personify’s website does not disclose the amount you will be charged for these fees.


Personify determines what your interest rates will be based on factors such as your credit history and the state you live in. Unfortunately, these rates are not at all competitive, so compared to other lenders, you can expect to pay a lot more in interest than you may elsewhere.

However, if you have bad credit, this may be a trade-off that you’re willing to make.


When you borrow from Personify, you can get between $500 and $15,000, although the exact loan amounts may be determined by your individual state. Your loan terms can be between one and four years.

Customer Support

Personify’s website touts that it adds a human touch to lending, and its customer service appears to support that claim.

The company has a customer service line that is available Monday through Friday, 8 a.m. to 9 p.m. Central Time and Saturday from 8 a.m. to 5 p.m. Central Time. In addition, you can use the online chat feature to speak to a customer service representative.


You can only get a loan from Personify if you live in the following states:

Alaska, Alabama, Arizona, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Mississippi, Montana, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Washington, and Wisconsin.

The only way to apply for a loan is through the company’s website, as Personify does not have any brick-and-mortar locations and doesn’t take applications over the phone.

Pros and Cons of the Personify Personal Loan

No matter how attractive a personal loan lender may appear, they all have their good sides and bad sides.

To give you a full picture of Personify’s services, we’ve broken down the pros and cons of working with them.

Pros of Personify

The following are the positives about taking out a loan from Personify:

Available to people with a bad credit history

If you have a history of fair or bad credit, Personify is a lender to consider. The company provides loans to consumers that may not be able to obtain one from other lenders, so if you have a low credit score, this may be a good choice for you.

Allows applicants to prequalify for a loan

Before you apply for a loan, Personify allows you to prequalify. This gives you two advantages: First, when you do this, you don’t have to worry about an inquiry being made with the three credit reporting bureaus — Equifax, Experian, and TransUnion — so you don’t have to be concerned about your credit score being affected.

Also, during the prequalification process, you get a chance to look at the offers that are available to you, so you know exactly how much you’ll be approved to borrow and what interest rates and fees you’ll be charged.

No application fees or prepayment penalties

Unlike some lenders, Personify does not charge any fees when you apply for a loan. Also, if you’re able to pay off your loan earlier than your end date, you won’t be charged a prepayment penalty.

Flexible loan terms

Personify offers flexible loan terms, so you can get a repayment schedule that lasts between one and four years.

Funds are disbursed quickly

Once you’re approved for a loan, which can be done instantly in some cases, you will receive the funds within one to two business days.

Cons of Personify

Although the positive sides of a Personify personal loan may make you think it’s a good choice for you, it’s best to consider the following drawbacks:

High interest rates

Since Personify works with people who have bad credit histories, their interest rates are on the high side compared to other lenders. As a result, you may want to shop around to see what else is out there for consumers who don’t necessarily have good credit.

Only available in limited locations

Personify only provide services to people in the following states: Alaska, Alabama, Arizona, Delaware, Florida, Georgia, Hawaii, Idaho , Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, Mississippi , Montana, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Washington, and Wisconsin.

Charges origination fees

When you take out a personal loan from Personify, you can expect to pay an origination fee that is 5% of the total loan amount. Also, you may be charged late payment and non-sufficient funds fees.

Bottom Line

If you have bad credit and you need a loan, Personify may be able to accommodate you.

However, you will pay the price for that with high interest rates and some fees.

The company does have a user-friendly and fast application process, which can be especially helpful if you’re dealing with an emergency situation.

If you need help with your loan, getting in touch with customer service won’t be difficult.

All in all, interest rates and fees notwithstanding, Personify may be a good option depending on your situation. Just be sure to shop around before making any decisions.

Frequently Asked Questions (FAQs)

Is Personify a payday lender?

No. But it’s important to keep in mind that like payday lenders, Personify does charge high interest rates.

Can I get a bank loan with a 550 credit score?

While getting a personal loan with a 550 credit score may be challenging, it’s not impossible. Although most lenders want customers who have at least a 600 credit score, there are some that will work with you if you have a lower score.

What makes it hard to get a loan?

It can be difficult to get a loan if you have a low credit score or if your income is less than a certain amount. Also, if you have a high debt to income ratio, which means the amount of debt you have versus your income makes lenders believe you wouldn’t be able to pay back the loan, chances are, your application will be denied.