Loans

Axos Personal Loans review: get a loan easily

Read this Axos Personal Loans review and discover how it is an excellent refinancing tool for individuals with excellent credit

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Axos Personal Loans: an excellent refinancing tool for individuals with excellent credit

Axos Bank has many useful financial products. Source: The Post New.

This online bank offers personal loans for borrowers whose credit scores are 700 or higher. Read on and find out more about this lender in this Axos Personal Loans review.

  • APR: 7.15% and 17.99%
  • Loan Purpose: Debt consolidation, credit card consolidation, home improvements, major purchases, medical expenses, moving and relocation, wedding expenses, vacation, business, and new vehicle purchase.
  • Loan Amount: $5,000 to $50,000
  • Credit Needed: Good – Excellent
  • Terms: 3 to 6 years
  • Origination Fee: 1% to 2%
  • Late Fee: $15
  • Early Payoff Penalty: No
Axos Personal Loans

How to apply for Axos Personal Loans?

In this Axos Personal Loans application guide we are going to take you through the application process step by step.

With Axos Personal Loans, you have access to your funds within one to three business days.

Plus, the lender lets you pre-qualify with a soft credit check, which has no impact on your credit score.

Keep reading this article to find out how it works.

How does Axos Personal Loans work?

With Axos Personal Loans, you can use your borrowed money for a number of different purposes.

They include medical expenses, moving and relocation, wedding expenses, vacation, business, new vehicle purchases, and many more.

The lender also offers to refinance options for borrowers who need to refinance an existing personal loan, whether from Axos or another lender.

One of Axos’ main shortfalls is that its loans charge an origination fee of 1% to 2% of the total loan amount. They also offer no autopay discounts, and no cosign or joint loan options.

The online bank offers loans starting at $5,000 and going all the way up to $50,000. This makes it evident why this loan tailors specifically to individuals with excellent credit. 

With terms ranging from 3 to 6 years, it also allows borrowers to pay off their personal loan sooner since it does not charge any prepayment penalty fees.

This loan’s APR can be a fixed 7.15% up to a fixed 17.99%. It all depends on your credit standing and other qualifications they may take into account.

Axos’ interest rates are within a reasonable rate. However, it should not be difficult for you to find better rates with other lenders if you have good credit.

The lender offers a grace period in case you are a little late with a payment. However, if you go beyond the grace period, there will be a fee of $15. 

Also, if you make a payment and your bank returns it because you do not have enough money in your account, the lender will charge you a $25 fee.

Axos Personal Loans: should you apply for it?

Husband and wife buying furniture for new home with personal loan
Get the things you need for your new home with a personal loan. Source: Freepik.Source: Freepik.

Now you are familiar with this loan’s ins and outs. However, our Axos Personal Loans review would not be complete without a comparison of its benefits and disadvantages.

Have a look at the list we have prepared just below.

Pros

  • It gives you quick access to funds
  • Available nationwide
  • Allows you to change your payment date
  • You can pre-qualify with a soft credit check

Cons

  • Charges an origination fee
  • It does not offer rate discounts
  • Does not offer co-sign or joint loan options

What is the required credit score?

Axos Personal Loans requires borrowers to have a credit score of 700 or higher. This generally falls within the category of good to excellent credit score.

Learn how to apply for Axos Personal Loans

If Axos Personal Loans sounds like a fit to you, you might want to take the next step and apply for this loan. If that is the case, then you should check out our application guide.

Click the link below and we are going to show you how to do it.

Axos Personal Loans

How to apply for Axos Personal Loans?

In this Axos Personal Loans application guide we are going to take you through the application process step by step.

About the author  /  Danilo Pereira

Danilo is a copywriter with a passion for learning. Deeply interested in philosophy, politics and arts.

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