In a Nutshell
pros
- Sleek, user-friendly website
- Multiple rates with one application
- Funding in as soon as 1 business day
cons
- No information about participating lenders
- No information about who operates the site
- Relatively long application form
TotalPersonalLoan at a Glance
Loan types: Unsecured personal loans
Loan amount: $500 - $35,000
Repayment terms: 1-5 years
APR: 5.99% - 35.99%
Best for: Comparing loans with small loan amounts
Best For?
The main reason to use this service is to quickly search for personal loans with amounts ranging from $500 to $35,000. TotalPersonalLoan doesn’t give any information about which lenders are part of this network, but it only takes a few minutes to submit a request and find out if you qualify for a decent loan.
Range of Loans on Offer
TotalPersonalLoan is focused solely on unsecured personal loans, i.e. personal loans that don’t require the borrower to put down any collateral and that can be used for any purpose. It boasts of a ‘large lender network’ although doesn’t provide any information on exactly how many lenders it works with. The only way to find out which lenders you qualify for is to fill out a request form. On the upside, you only need to fill out a form once to see multiple lending options.
Application Process & Requirements
The application process only takes a few minutes, although it involves more questions than what some other online marketplaces tend to ask.
In order to see results, you will need to provide the following:
- Loan amount
- Credit range
- Loan purpose
- Name and date of birth
- Contact details
- Employment details ( such as: primary source of income, employer name and contact details, monthly income, and date of next payday)
- ID numbers (such as: Social Security Number, driver’s license)
Once you complete the form, you will be redirected within 1-2 minutes to a new screen showing your personalized loan options. To continue your application, click on your preferred lender to be redirected to their website.
Note that when you use TotalPersonalLoan, you are asked to consent to being contacted by third party lenders and other marketing partners at the phone number you provide. This can be a good thing if you’re open to hearing from as many lenders as possible. But if you don’t like having your phone ring constantly, then you may want to think twice before using the service.
APRs, Loan Amounts & Repayment Terms
With TotalPersonalLoan, loan details vary from partner to partner. Below are the high and low amounts you can expect to find.
- Loan amount: $500 - $35,000
- APR: 5.99% - 35.99%
- Repayment terms: 1-5 years
Privacy & Security
TotalPersonalLoan uses 256-bit SSL encryption to ensure your information is always kept safe. Its website displays the seal of the Online Lenders Alliance, showing that is compliant with the OLA’s best practices.
Help & Support
Unfortunately, TotalPersonalLoan doesn’t offer any customer support beyond what you can find on its website.
How TotalPersonalLoan Compares
Compared to the biggest personal loans marketplaces, TotalPersonalLoan falls short on rates and transparency. Its main appeal is that it offers small loan amounts and potentially works with lenders you won’t find at other marketplaces.
Total Personal Loan FAQs
Q: Does TotalPersonalLoan serve low-credit borrowers?
A: According to its website, TotalPersonalLoan works with lenders that provide loans for borrowers ‘with excellent to poor credit’.
Q: How long does it take to get funded?
A: Once TotalPersonalLoan connects you with a lender, you will be asked to review your loan agreement. Once you sign the loan, your funds are released, and typically are availably by the next business day.
Q: Is TotalPersonalLoan a lender?
A: No. It is an online marketplace that connects borrowers with lenders from its lending network.
Q: How much does the service cost?
A: Nothing. Like other online loans marketplaces, TotalPersonalLoan doesn’t charge the borrower anything.
Q: What are the operating hours?
A: TotalPersonalLoan accepts requests 24/7. Its partnering lenders operate all the time and approve loans inside and outside of regular business hours.
Summary
TotalPersonalLoan is an online loans marketplace targeting borrowers in search of relatively low loan amounts. Aside from its sleek website, nothing really stands out about this platform in comparison to competitors. With that said, it only takes a few minutes to plug in your information and find out if TotalPersonalLoan can get you a good rate.
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