Highlights
Community Rating	Strongly not recommended
APR (Fixed APR)	6.99% - 23.99% (Verified 08/04/2023)
Loan Amount	$3,500 - $55,000
Loan Term (Months)	36 - 84 months
Number of Reviews	22

GreenSky Personal Loans Review

GreenSky Personal Loans is offered by GreenSky LLC, a financial services company founded in 2006 and based in Atlanta, GA. GreenSky loan are available in 50 states (and Washington, DC).

Key Takeaways

APRs starting at 6.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for GreenSky Personal Loans are on the lower end of the spectrum.
Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
Large loan amounts. You can apply for loan amounts of up to $55,000 with GreenSky Personal Loans.
No origination fee. GreenSky Personal Loans does not charge a loan origination fee.
Super long loan terms. GreenSky Personal Loans offers loan terms of up to 84 months. Most personal loans have a maximum term of 60 months.

GreenSky loan Pros & Cons

Pros	Cons
Low APRs available to qualified borrowers. $0 prepayment fee. Loan options with $0 origination fee. Considers applicants with fair credit. Funding available within 1 business day.	APRs as high as 23.99%. Does not offer pre-approval with soft credit pull. GreenSky Personal Loans does not report to credit bureaus. Charges a late fee

GreenSky loan FAQ

What interest rates and personal loan terms does GreenSky loan offer?

GreenSky loan has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does GreenSky loan offer?

GreenSky loan offers a fixed APR personal loan product that ranges from 6.99% APR up to 23.99% APR.

How much can you borrow via GreenSky loan?

Personal loan amounts start at $3,500and go up to $55,000

What is the maximum loan term you can get with GreenSky loan?

GreenSky loan offers loans with terms of up to 84 months.

GreenSky loan Interest Rates & Loan Terms
Personal Loan Amount	$3500 - $55000
Loan Term	36 - 84 months
APR	6.99% - 23.99%

What fees does GreenSky loan charge?

Does GreenSky loan charge an origination fee?

GreenSky loan does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does GreenSky loan charge a late fee?

No, GreenSky loan will not charge you a late fee if you miss one of the monthly payments.

Does GreenSky loan charge prepayment fees?

No, GreenSky loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

GreenSky loan Fees
Origination Fee	No
Prepayment Fee	No
Late Payment Fee	No

What do you need to qualify for GreenSky Personal Loans?

Applicants with a credit score of at least 640 and up to 850 may be eligible for GreenSky Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

GreenSky Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. GreenSky Personal Loans only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via GreenSky Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by GreenSky Personal Loans.

GreenSky loan Eligibility Criteria
Minimum Age	18
Bank Account Required?	No
Application Types Accepted	Individual Applications
Credit Score	640 - 850

What is the estimated funding time for a personal loan via GreenSky loan?

GreenSky loan will typically provide a credit approval decision in less than an hour and fund the loan within 10 business days.

Are GreenSky Personal Loans legit?

GreenSky LLC was founded in 2006, it is a well-established company that has been in business for 17 years. GreenSky Personal Loans are strongly not recommended by SuperMoney community users.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From GreenSky loan

Message From Our Editor

What We Love About GreenSky

Greensky provides bank loans for home improvement projects, and it offers a fast and simple way to get the money that’s needed. The loan amounts borrowed can vary, as can the terms of the loan. It’s important to remember that this is a direct home improvement loan program and that the loans will come from third-party financial companies such as SunTrust Bank. GreenSky will generate and service the loans.

It works simply, and after applying and getting approved, you can accept the loan and receive your GreenSky Direct Payment Card within a short period. Another nice benefit is the GreenSky Pro option. When you hire one of these GreenSky approved contractors, you can get no interest on your loan for a certain period of time.

What GreenSky Could Do Better

The overall application process is simple. The only area where there might be some problems is in the clients the company chooses. They tend to target only those who have good to excellent credit scores. If you have a credit score that’s less than this, it will be hard to get approval. Additionally, the application submission will result in a hard inquiry on your credit report, so this will be something to keep in mind.

There have also been some issues with billing, collections, and services, and the company could do a better job addressing those problems. They have also been sued twice for deceptive business practices but were able to settle and change their business practices.

GreenSky’s Backstory

GreenSky has been around for longer than many realize. Since then, the company opened its doors in 2006 and has funded more than $15 billion in loans, serving more than two million customers.

The Verdict

Those who are looking for a quality loan option for home improvement projects will find that Green Sky could be a good option to consider. They accept cosigners, have competitive rates, and could be a fast and easy way to get the money needed for your home. Quick approval means you could get started on the project faster.

Contact

Headquarters
1797 Northeast Expressway NE
Atlanta, GA 30329 USA
Visit Site
Email Support

About GreenSky Personal Loans

View GreenSky LLC Profile

Availability

Available in 50 states and Washington, D.C.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington, DC
West Virginia
Wisconsin
Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee