Last Updated: 04/18/2025
SuperMoney User Recommendation Score +62
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Merrick Bank Personal Loans Review
Key Takeaways
- APRs starting at 27.99%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Merrick Bank 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 Merrick Bank with a soft pull that will not affect your FICO or VantageScore.
- Origination fee of 5%. This is average for lenders that charge origination fees. However, plenty of lenders don't charge them.
Merrick Bank personal loans Pros & Cons
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Merrick Bank personal loans FAQ
What interest rates and personal loan terms does Merrick Bank personal loans offer?
What interest rates does Merrick Bank personal loans offer?
How much can you borrow via Merrick Bank personal loans?
What is the maximum loan term you can get with Merrick Bank personal loans?
| Personal Loan Amount | $2500 - $12500 |
| Loan Term | 36 months |
| APR | 27.99% - 35.99% |
What fees does Merrick Bank personal loans charge?
Does Merrick Bank personal loans charge an origination fee?
Does Merrick Bank personal loans charge a late fee?
Does Merrick Bank personal loans charge prepayment fees?
| Origination Fee | 5% |
| Prepayment Fee | N/A |
| Late Payment Fee | No |
What do you need to qualify for Merrick Bank Personal Loans?
Applicants with a credit score of at least 580 and up to 850 may be eligible for Merrick Bank Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.- Applicants must have an active and valid personal checking account
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 580 - 850 |
What is the estimated funding time for a personal loan via Merrick Bank personal loans?
Does Merrick Bank Personal Loans report your account activity to credit bureaus?
- Equifax
- Experian
- TransUnion
Does Merrick Bank perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates.Are Merrick Bank Personal Loans legit?
Merrick Bank Personal Loans Disclosure: This doesn't constitute an actual commitment to lend or offer to extend credit. Upon submitting your loan application, you may be asked to provide additional documents to enable us to verify your income, assets and financial condition. As part of the application process, we will show you the rate and other terms for which you qualify, if you are approved. In addition to a loan origination fee, which is deducted from the loan proceeds, borrowers may be subject to fees for late payments and unsuccessful payment attempts. Refer to full loan agreement for all terms, conditions and requirements. Offer Description. Loan amounts range from $2,500-$12,500 and APR range from 27.99%-35.99% The Annual Percentage Rate (APR) is the cost of credit as a yearly rate and includes an origination fee that is deducted from loan proceeds. The loan amount and the APR offered will depend on our assessment of your credit worthiness. This offer is dependent on our ability to verify the information provided in the application form.
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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.