Loans
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.
Advertisement
by Danilo Pereira
Merrick Bank Personal Loan: fast application and approval process even if you have imperfect credit

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.

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.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Merrick Bank Personal Loan: should you apply for it?

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.
Advertisement
Pros
- 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
Cons
- 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.

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
Trending Topics

SmartAccess Prepaid Visa Debit Card review
Find out how you can excel in managing your finances in this complete SmartAccess Prepaid Visa Debit Card review. Read on for more!
Keep Reading
Mastercard® Titanium Card™ review
Learn how you can take advantage of all the amazing benefits and luxurious perks of the Mastercard® Titanium Card™ in our full review!
Keep Reading
Aspire® Cash Back Reward Card review
Learn how you can earn generous cash back rewards on your daily purchases in our complete Aspire® Cash Back Reward Card review.
Keep ReadingYou may also like

Private retirement plan: is it a good idea?
Looking into the future makes you wonder about retirement? Then check out this article and find out more about private retirement plans.
Keep Reading
U.S. Bank Altitude® Go Visa Signature® Card application
In this U.S. Bank Altitude® Go Visa Signature® Card application guide, we are going to help you get this card in just a few minutes!
Keep Reading
Applied Bank® Secured Visa® Gold Preferred® Card application
Learn all you need to know about the Applied Bank® Secured Visa® Gold Preferred® Card application process and get your score up!
Keep Reading