Merrick Bank Personal Loan review: get a loan easily

Get approved fast for the Merrick Bank Personal Loan in just a few minutes even if you do not have perfect credit.


Merrick Bank Personal Loan: fast application and approval process even if you have imperfect credit

Merrick Bank
If you have a not-perfect credit score, read this Merrick Bank Personal Loans Review. Source: The Post New.

Merrick Bank Personal Loans were specially designed for borrowers with less-than-perfect credit, and this review will cover all of its features. The application is simple, and approval comes out quickly.

Merrick Bank

How to apply for Merrick Bank Personal Loan easily

Apply for the Merrick Bank Personal Loan today and get approved quickly even if you do not have perfect credit.

If you have all your documents in order and you submit them with no errors, approval can be extended within a day.

After you get approval, it should take you about 2 business days to receive the funds in your bank account.

  • APR: N/A
  • Loan Purpose: debt consolidation, medical and dental expense, emergency expense, wedding expenses, home improvement, auto repair, major purchase, moving or relocation, vacation, personal loans, mortgage loans, RV loans, boat loans, trailer loans, Powersports loans
  • Loan Amount: $2,500 – $12,500 
  • Credit Needed: 580 to 850
  • Terms: 36 months
  • Origination Fee: 5%
  • Late Fee: No
  • Early Payoff Penalty: No

How does Merrick Bank Personal Loan work?

Merrick Bank Personal Loan offers applicants a quick and easy process with only a soft inquiry before you receive your offer.

Only after you have received the offer and decide to take it will the lender run a hard inquiry.

Approval generally comes out within a day after you have submitted all the documents the process requires. Funds will be deposited in your checking account on the following day of the approval.

Amounts do not go above a $12,500 ceiling, so if you are looking for a higher amount, you might want to check out other lenders.

Additionally, Merrick Bank charges a 5% origination fee for the loan. This lender also does not offer loans of under $2,500.

To be eligible for a Merrick Bank Personal Loan, you must be 18 or older, and have a U.S. ID and a Social Security number or tax identification number.

You must also be able to provide income information and have a bank account in your name.

Interest rates on personal loans range between 5% and 36% of the borrowed amount. This makes Merrick Bank one of the most expensive loans in the market. 

Merrick Bank also charges a prepayment fee if you decide to pay off your loan early. This is a rare occurrence in the loan market, but it does happen.

Merrick Bank Personal Loan: should you apply for it?

woman withdraen money from personal loan atm
The money will be in your bank account really soon with quick approval. Source: Freepik.

So, now that we have discussed Merrick Bank Personal Loan quite a bit in this review, how about a comparison?

Let’s put the pros and cons together so you can decide which has the greatest weight in your decision. Check out our list below.


  • It does not require excellent credit to qualify
  • The approval comes out fast
  • Funding is available within one business day after approval
  • Initial soft pull


  • High interest rate
  • $2,500 minimum and $12,500 maximum loan limit
  • 5% origination fee
  • Charges a prepayment fee

What is the required credit score?

Applying for a Merrick Bank Personal Loan does not require applicants to have perfect credit. However, the lender does require a minimum credit score of 580. This is considered a “fair” credit score.

Learn how to apply for  Merrick Bank Personal Loan

Like what you have learned so far? If so, how about applying for a loan today? We have prepared a step-by-step guide for the application process. Just click the link below, and we will show you how to do it.

Merrick Bank

How to apply for Merrick Bank Personal Loan easily

Apply for the Merrick Bank Personal Loan today and get approved quickly even if you do not have perfect credit.

About the author  /  Danilo Pereira

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

Trending Topics


Apple Card review

Check out this Apple Card review to learn why this credit card can be the perfect choice for Apple users who love rewards on their spending.

Keep Reading

Applying for Axos Personal Loans: easy application and high loan amounts

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

Keep Reading

How to get your Quick Capital Cash loan: get many offers with one application

Quick Capital Cash loans are an excellent pick if you are looking for a quick and easy way to apply for loans with multiple lenders.

Keep Reading

You may also like


Discover it® Miles application: No annual fee

Trying to figure out how to get a nice mileage credit card? Read this Discover it® Miles application guide and learn how.

Keep Reading

VentureOne Rewards Card application

Get a travel credit card that really works in your favor by applying to the VentureOne Rewards Card from Capital One. Read on to learn how!

Keep Reading

What Are Mutual Fund Expense Ratios?

When investing in mutual funds, it is essential to understand what mutual fund expense ratios are. Find out in this article.

Keep Reading