Achieve Personal Loans (formerly “FreedomPlus) offers personal loans to individuals with a wide range of credit scores. You can apply for a loan for almost any purpose, from debt consolidation and home improvement to pay for medical expenses.
Achieve Personal Loans offers a smart loan solution through a quick and easy process, supported by a dedicated Member Services team to help you customize your loan to meet your financial goals. Let’s have a closer look at what they have to offer you.
What Is Achieve Personal Loans?
Achieve Personal Loans offers low, fixed-rate personal loans its members can use to consolidate their unsecured debt or fund a major expense. Members pick from 2, 3, 4, or 5-year terms and loan amounts ranging between $5,000 to $50,000 (*) . Throughout the entire process, from application to funding, they work with the same dedicated Achieve team member to create their customized loan solution. Members can depend on this sole contact to answer any questions, review their current financial status, and help map out the future they seek.
How Does Achieve Personal Loans Work?
Achieve Personal Loans provides options to talk to a loan consultant or apply online. Their friendly team goes beyond your credit report to qualify you for a loan and identify potential rate discounts (1) . If approved, you could qualify same-day with funds sent in 24-72 hours (2) .
Like many personal lenders, Achieve Personal Loans offers free, fast quotes. You can use the slider on their homepage and answer a quick questionnaire to see what you may qualify for. When you apply, a soft credit pull is done as part of the pre-qualification process. If you are pre-qualified and choose to proceed with an application, Achieve Personal Loans will perform a hard pull on your credit score and provide you with a decision.
What Does Achieve Offer?
Achieve Personal Loans offers a range of loan options for individual borrowers, including help tackling your high-interest credit card debt. You can submit an application with a loan purpose of “other,” but it’s best to choose a specific reason for taking a loan. No matter the loan or the reason, all the loans come with the same fast and easy application process.
Achieve Personal Loans
You can use a personal loan through Achieve for the following purposes:
- Credit card refinancing
- Debt consolidation
- Home improvement
- Major purchase
- Travel or vacation
- Car maintenance
- Medical expense
- Moving expense
- Miscellaneous “other” loans
Loan Amounts and Terms
You can apply for loans for any of the above. You select the loan amount you seek. Achieve Personal Loans offers loans between $5,000 to a maximum of $50,000, and loan repayment terms range from 2 to 5 years. (*)
Interest rates for Achieve Personal Loans range from 7.99% to 29.99%. (*)
Ways to Qualify for a Lower Rate
Achieve Personal Loans offers potential rate discounts (1) for adding a qualified co-borrower with sufficient income, using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt, or showing proof of sufficient retirement savings. If you are eligible, this could reduce your rate by up to 6%. (1)
Therefore, if you fall under one of these three circumstances, you could potentially get a rate discount (1) :
- Adding a qualifying co-applicant
- Opting into the direct payment to creditors
- Showing sufficient retirement savings
Loan Fees and Other Terms
Achieve Personal Loans charges transparent rates that are listed on their site. There are no application fees or prepayment fees. The loan origination fees vary from 1.99% to 6.99%, though most loans will have a loan origination fee of 6.99% (*) .
Achieve Personal Loans makes most of its money in interest charges. But, beyond that, they also have other applicable fees. For example, they charge a loan origination fee of 1.99% to 4.99% (*) , but they don’t charge any prepayment penalties if you choose to pay off your loan earlier.
Their APRs range from 7.99% to a maximum of 29.99% (*) . An APR is an annual percentage rate, a percentage-based measure of the total annualized cost of the loan.
In summary, here are the costs associated with an Achieve personal loan (*) :
- APR: 7.99% to 29.99%
- Rates: 5.99% to 26.99%
- Loan Term: 2, 3, 4, or 5 years
Achieve Personal Loans Member Service
Expert Loan Consultants work with borrowers to tailor the best loan terms, rates, and discounts for them. And every day of the week, the Member Services team can provide any help you may need. In addition, customers can create online accounts to manage loans and access Achieve Personal Loans resources.
Is Achieve Personal Loans Right for You?
Personal loans through Achieve could be used for many reasons, including consolidating high-interest credit card debt into a single, more manageable payment. If you qualify, pay for that wedding or vacation you’ve been dreaming about, or complete that home renovation project in an innovative and affordable way.
Before applying for any loan, it’s crucial to understand how personal loans work and how lenders work. Achieve Personal Loans is a transparent lender with a team of highly knowledgeable loan consultants available to help you.
Achieve Personal Loans Reviews
Achieve Personal Loans (formerly “FreedomPlus”) has an extensive history of customer reviews on impartial platforms like the Better Business Bureau (BBB). It has an overall A+ BBB rating, as most customer concerns are adequately resolved. In addition, achieve appears willing to handle customer concerns and inquiries over email, phone, or transparently through messages on BBB.
How to Apply with Achieve Personal Loans
Applying for a personal loan through Achieve is similar to applying for a loan with other lenders. However, in some ways, they make the process even easier. For example, they accept qualifying co-borrowers and don’t charge a prepayment penalty if you want to save on interest by paying your loan back faster.
Ensure you’re prepared with all the necessary documentation to make a formal loan application. This typically includes, but is not limited to, a government ID and social security number.
Applying for a personal loan is easy on the Achieve Personal Loans website using the slider tool on their homepage to select the amount of money you want to borrow.
To receive an initial decision, you will need to provide the amount of money you want to borrow, the purpose of your loan, and some basic personal information (name, address, phone number, income, etc.). Once you fill out the loan application, you will receive a credit decision within 2-3 hours. (2)
If you choose to move forward, you will be asked to provide a few documents. Achieve Personal Loans will review submitted documents, and if approved, funds will be sent within 24-72 hours (2) .