Rocket Personal Loans Review

If you are going through a difficult time in your life and you need money, a personal loan can be the ideal solution. That’s because personal loans provide temporary, short-term financial relief that allows you to reorganize and better manage your finances.

To be able to enjoy all the advantages that a personal loan can offer and improve your financial health, you need to plan and think about how many dollars you need and how soon you will be able to pay it back.

So, if you are experiencing any financial difficulties or need additional money, a personal loan may be an idea. But it is worth remembering that just like any loan, it is not risk-free. After all, if you don’t meet the payment deadlines, you can get your name dirty.

Get to know Rocket Personal Loan, a personal loan company that guarantees several benefits to borrowers and has conquered more and more users. Get to know its advantages, rates and how to apply for your personal loan.

Who Is Rocket Personal Loans Best for?

If you have already tried to take out a loan from traditional banks or other financial companies and did not qualify for having a low credit score, Rocket Personal Loan is a company that guarantees personal loans for borrowers even with low credit scores.

So, if you need the money for an emergency, to pay medical bills, debt, wedding costs or even your dream trip, a personal loan is the ideal option.

When you apply for your Rocket Personal Loan you receive your approval or disapproval response within minutes, without having to wait days for a response. Additionally, you can request an amount between $2,000 to $45,000. The amount available for you to apply for will depend on your income and monthly expenses.

The term for repayment of your loan can vary between 36 to 60 months, which is considered a long period if you compare to other lenders.

Qualifying for Rocket Personal Loans

A personal loan is an excellent option, especially for people who have tried other loans but did not qualify. However, to be approved for your Rocket Personal Loan, you must meet the following requirements:

Minimum credit score: One of the great advantages of Rocket Personal Loan is that it does not require a very high credit score like other companies that require a score of 710 or higher. To qualify for Rocket Personal, you must have a credit score. of at least 570.

Required Income: To qualify you must have a minimum annual income of $24,000. But for even greater chances of approval, the ideal is a minimum annual income of $85,000 with a debt-to-income ratio greater than 40%.

Advantages and Features of Rocket Personal Loans

See other advantages offered by Rocket Personal Loan:

Same Day Approval Response: The process to get your personal loan at Rocket Personal Loan is very quick, unlike other traditional financial institutions, which can be quite lengthy and stressful. You get your approval response the same day you apply.

Discounts Offered: If you sign up for automatic payment, you may receive discounts on your fees and interest from Rocket Personal Loan.

Smooth Credit Check: By checking your credit score to make sure you qualify for your personal loan, Rocket Personal Loan performs a smooth check without hurting your credit score. All this to help you get the money you need.

Rocket Personal Loans Interest Rates and Fees

Rocket Personal Loan interest rate ranges from 6.72% to 29.99%. As stated earlier, you can get an interest rate discount if you sign up for automatic payment.

Origination fee: The origination fee is around 1% to 6% of the total loan amount.

Late Payment: If the borrower is more than 10 days late in payment, a $15 fee is charged. Therefore, always pay attention to payment dates to avoid forgetting or put the payment in automatic debit.

Additional Fees: One of the additional fees charged by Rocket Personal Loan is a bounced check fee, which is charged an amount of $15 if borrowers have an insufficient amount returned to their account.