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Frictionless Fintech solution is simple, convenient and highly affordable
CHICAGO, July 18, 2022 /PRNewswire/ — Guaranteed Rate, a cutting-edge mortgage lender driven to be the nation’s top Fintech, announces the launch of its new end-to-end digital Personal Loans. Online applications for these ultra-fast digital loans take as little as just 10 minutes to complete, and customers could receive up to $50,000 within hours.
With rising interest rates and soaring inflation, many Americans are looking for the fastest and most effective ways to consolidate high-interest debt and get access to low-interest funds they can use for home-improvement or other life projects. Guaranteed Rate’s new Personal Loans solve those needs in record time. These loans offer low rates (starting at 5.74% APR*), a super-simple online application that takes a few minutes, and flexible repayment options from 1 to 5 years.
“Guaranteed Rate’s awesome Fintech platform is designed to provide our customers with fast and frictionless financial products,” said Guaranteed Rate President and CEO Victor Ciardelli. “And our new end-to-end digital Personal Loans are a fantastic example. In less than 10 minutes, customers can complete our online application and have their money within hours with absolutely no human contact.”
Guaranteed Rate’s new end-to-end digital Personal Loans are available initially by invitation only in 10 states (AL, CA, FL, GA, IL, MA, MO, NJ, OH and TX), with plans to expand rapidly to the rest of the country. The amounts for these loans range from $4,000 to $50,000*, with fixed rates starting at 5.74% APR*. Guaranteed Rate’s Personal Loans have no fees—no origination fees, no NSF fees and no late fees. Funds are received in a lump sum, and payments can be made over 12, 24, 36, 48 or 60 months.
“Personal Loans are a really smart way for customers to reduce the cost of high-interest credit card debt or to help finance unexpected purchases,” said Anand Cavale, Guaranteed Rate’s Executive Vice President and Head of Unsecured Lending Products. “We know that customers need and want their money fast and they want the process to be hassle-free and super-simple. Our new Personal Loans product over-delivers on those needs.”
Guaranteed Rate’s new end-to-end digital Personal Loans are just one example of the exciting new Fintech solutions the company is developing. “Guaranteed Rate’s tech team is laser focused on providing the best and most effective, fast and easy-to-use Fintech solutions in the industry that have never been available before. We have listened to our customers and are giving them what they want and need,” says Ramesh Sarukkai, Guaranteed Rate’s Chief Product and Technology Officer.
To learn more about Guaranteed Rate’s new Personal Loans, visit rate.com/personal-loans.
About Guaranteed Rate Companies
Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies have more than 10,000 employees in over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies have helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s 2020 Tech100 award for the company’s industry-leading FlashClose℠ technology; No. 3 ranking in Scotsman Guide’s 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.
*Rates shown assume a 0.25% autopay discount. Standard fixed rates range from 5.99% to 19.99% APR. Currently, loans are only available in Alabama, California, Florida, Georgia, Illinois, Massachusetts, Missouri, New Jersey, Ohio and Texas. Borrowers must be 18 years of age or older, a U.S. citizen, a permanent resident or a non-permanent resident in the U.S. on a valid, long-term visa. All loan applications are subject to credit review and approval. A borrower’s rate will depend on requested loan amount, loan term, creditworthiness, income and a variety of other factors. Rates and loan amounts are also subject to state regulation and may be different than those above. The lowest rate advertised is reserved for the most creditworthy borrowers.
Representative example of repayment terms for an unsecured personal loan: For $20,000 borrowed over 24 months at 8.26% APR (including 0.25% autopay discount), the monthly payment is $906.91. This example is an estimate only and assumes all payments are made on time.
SOURCE Guaranteed Rate Companies
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