Last Updated: 02/02/2026
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Highlights
APR (Fixed APR)
Amount Range
Loan Term (Months)
BMG Money Personal Loans Review
Key Takeaways
- APRs starting at 19.99%. Personal loan interest rates typically range between 9% and 36%. The starting rates for BMG Money Personal Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Prequalified rate. You can check your prequalified rate at BMG Money with a soft pull that will not affect your FICO or VantageScore.
- Origination fees of up to 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
BMG Money Pros & Cons
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BMG Money FAQ
What interest rates and personal loan terms does BMG Money offer?
What interest rates does BMG Money offer?
How much can you borrow via BMG Money?
What is the maximum loan term you can get with BMG Money?
| Personal Loan Amount | $1000 - $12000 |
| Loan Term | 12 - 60 months |
| APR | 19.99% - 35.99% |
What fees does BMG Money charge?
Does BMG Money charge an origination fee?
Does BMG Money charge a late fee?
Does BMG Money charge prepayment fees?
| Origination Fee | up to 5% |
| Prepayment Fee | No |
| Late Payment Fee | $15 - $30 |
What do you need to qualify for BMG Money Personal Loans?
- Applicants must have an active and valid personal checking account
- Proof of income
- Bank account information
- Driver's license or other government photo ID
- U.S. tax identification number
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 300 - 850 |
What is the estimated funding time for a personal loan via BMG Money?
Does BMG Money Personal Loans report your account activity to credit bureaus?
- Equifax
- Experian
- TransUnion
Does BMG Money perform a hard credit pull?
Unlike most providers, there isn't a hard credit pull, ever. Your FICO Score will not be pulled for the processing of this loan application; however, alternative credit scores are pulled and used in determining creditworthiness. BMG Money has no minimum credit score requirement. Payment history is reported to all three major credit reporting agencies and failure to make payments may affect your credit scores.Are BMG Money Personal Loans legit?
BMG Money Personal Loans Disclosure: Loan amounts range from $1,000 to $12,000. Loan lengths range from 12 to 60 months. Annual Percentage Rates (APRs) range from 19.99%-35.99%. Many loans have a one-time 5% origination fee. Loans do not require repayment in full within 60 days from the loan issue date. For example, a $3,000 loan repaid in 52 biweekly installments of $76.00 over 24 months will have a 31.35% APR. Your loan’s details will depend on the amount and your payroll schedule. Most BMG Money-branded loans are made by WebBank. As of 08/01/2025, loans to residents of Illinois, Ohio, and Rhode Island are made by BMG LoansAtWork, Inc. BMG LoansAtWork, Inc. is licensed in many states. For more information, see https://www.bmgmoney.com/compliancenew. Loans through BMG Money are provided at a significantly lower cost than most payday loans. According to the Consumer Financial Protection Bureau, “A typical two-week payday loan with a $15 per $100 fee equates to an annual percentage rate (APR) of almost 400%". Your actual loan’s details will depend on the amount and your payroll schedule.” A loan offer is not guaranteed, and is conditioned on our consideration and verification of financial and non-financial information. Terms subject to credit approval upon completion of an application. Loan sizes, interest rates, and loan terms vary based on the applicant’s application and credit profile. Loan terms are subject to verification of identity and credit information. Federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. We will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Your FICO Score will not be pulled or used for the processing of your loan application. Alternative credit scores are pulled and used in determining creditworthiness. We report payment history to all three major credit reporting agencies and failure to make payments may affect your credit scores. If you provide a valid debit card linked to the bank account where your primary income is generally deposited, Instant Funding is available within minutes of signing for your loan. For applications approved and signed by noon ET, same-day ACH funding usually is available. For applications approved and signed by 4:30 pm ET or on Sundays and holidays, funds usually are deposited the next business day.
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