Last Updated: 04/18/2025
SuperMoney User Recommendation Score -73
Strongly not recommended22 total votes
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Highlights
Community Rating
Strongly not recommended
APR (Fixed APR)
6.99% - 23.99%(Verified 06/21/2024)
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Amount Range
$3,500 - $55,000
Loan Term (Months)
36 - 84
Number of Reviews
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 9% 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 |
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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 $3,500 and 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.
| 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, consider lenders that don’t charge origination fees.
Does GreenSky loan charge a late fee?
GreenSky loan does not disclose whether it charges late payment fees.
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.
| 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.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by GreenSky Personal Loans.
| Minimum Age | 18 |
| Bank Account Required? | No |
| Credit Score | 640 - 850 |
What is the estimated funding time for a personal loan via GreenSky loan?
GreenSky loan will typically fund loans within 1 to 10 business days of approval and clearing necessary verifications.
Does GreenSky LLC perform a hard credit pull?
Yes, GreenSky loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are GreenSky Personal Loans legit?
GreenSky LLC was founded in 2006, it is a well-established company that has been in business for 20 years. GreenSky Personal Loans is 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.