Payoff Personal Loans

in Personal Loans from Payoff Inc.

Claimed Apply Now Get Personalized Rates

Payoff Personal Loans


in Personal Loans from Payoff Inc.

SuperMoney Net Recommendation Score -64%



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Strongly not recommended

2 users recommend
1 user is unsure
11 users don't recommend
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Community Rating Strongly not recommended
APR  (Fixed APR) 5.99% - 24.99%
Loan Amount $5,000 - $35,000
Loan Term (Months) 24 - 60 months
Number of Reviews 14

Payoff Personal Loans Review

Payoff Personal Loans is offered by Payoff Inc., a financial services company founded in 2009 and based in Costa Mesa, CA. Payoff Personal Loans is available in 45 states (and Washington, DC).

Key Takeaways
  • APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Payoff Personal Loans are on the lower end of the spectrum.
  • Prequalifed rate. You can check your prequalified rate at Payoff Inc. with a soft pull that will not affect your credit score.
  • 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.
  • No late fees. Missing a payment can seriously damage your credit, but Payoff Personal Loans will not charge additional fees if you miss the due date on a payment.
  • Minimum income of $40,000. You will need an annual income of at least $40,000 to apply for Payoff Personal Loans, which is above average for the lenders in our database.
Payoff Personal Loans Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • APRs as high as 24.99%.
  • Charges an origination fee of up to 5% of the loan amount.
Payoff Personal Loans FAQ

What rates and terms does Payoff Personal Loans offer?

Payoff Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Payoff Personal Loans offer?

Payoff Personal Loans offers a fixed APR personal loan product that ranges from 5.99% APR up to 24.99% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Payoff Personal Loans?

Loan amounts start at $5,000 and go up to $35,000

What can a personal loan from Payoff Personal Loans be used for?

Personal loans from Payoff Personal Loans are typically used for special purchases, debt consolidation or similar purposes.

What is the maximum loan term you can get with Payoff Personal Loans?

Payoff Personal Loans offers personal loans with terms ranging from 24 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Payoff Personal Loans Rates & Terms
Loan Amount $5000 - $35000
Loan Term 24 - 60 months
APR 5.99% - 24.99%

What fees does Payoff Personal Loans charge?

Does Payoff Personal Loans charge an origination fee?

Payoff Personal Loans may charge a loan origination fee of 0% to 5% of the loan amount. Payoff Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does Payoff Personal Loans charge a late fee?

No, Payoff Personal Loans will not charge you a late fee..

Does Payoff Personal Loans charge prepayment fees?

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

Payoff Personal Loans Fees
Origination Fee 0% - 5%
Prepayment Fee? No
Late Payment Fee $0

What do you need to qualify for Payoff Personal Loans?

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

To qualify for personal loans with Payoff Personal Loans, applicants need a minimum annual income of $40,000 or higher. Payoff Personal Loans only considers borrowers who are employed and meet the minimum income requirement.

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 Payoff Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Payoff Personal Loans. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. Payoff Inc. does offer its services to temporary resident visa holders such as F1 or H1B holders.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid personal checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
Payoff Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
  • Credit Score 640 - 850

    What is the estimated funding time for a personal loan via Payoff Personal Loans?

    Payoff Personal Loans will typically approve (or deny) a loan application within 3 hours and fund personal loans within 7 business days of approval.

    Does Payoff Personal Loans report your account activity to credit bureaus?

    Payoff Personal Loans reports your account activity to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit.

    Payoff Personal Loans Disclosure: Payoff works with lending partners to ultimately originate loans. Information about our Lending Partners, including their address, financial institution type and charter, as well as links to their websites and privacy policies can be found on our Lending Partners page. Individual borrowers must be at least 18 years old and have valid social security and a valid checking account. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV. Our mailing address is: Payoff, Inc., 3200 Park Center Drive, STE 800, Costa Mesa, CA 92626.
    SuperMoney Disclosure: 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.


    About Payoff Personal Loans

    Message From Payoff Inc.

    We're a team of financial services professionals, research and clinical psychologists, data scientists, neuroscientists, Member Advocates and technology experts working together to better understand and accelerate people’s journey toward financial wellness.


      Available in 45 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Minnesota
    • Missouri
    • Montana
    • 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
    • Wisconsin
    • Wyoming

    Feature Breakdown

    Late Fee Amount $0
    No Prepayment Fee  
    No Late Fees  
    Origination Fee (%) 0% - 5%
    Checking Account Required  
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    • U.S. Temporary Resident Visa Holders
    Joint Loan Applications Accepted Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Minimum Age 18
    Minimum Annual Income $40,000
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    Verification Documents Required
    • Recent Pay Stubs
    • Proof of Income
    • Driver License (or other photo ID)
    • Proof of citizenship/residence (Green Card)
    Credit Score Range 640 - 850
    Approval Speed 3 hours
    Credit Bureau Reporting
    • Experian
    • Equifax
    • TransUnion
    Customizable Payment Dates  
    Funding Time Range 2 - 7 days
    Payment Options
    • Automatic Payments
    • Check by mail
    Pre-Approved Soft Credit Inquiry  
    Loan Amount $5,000 - $35,000
    APR (Fixed APR) 5.99% - 24.99%
    Loan Term 24 - 60 months

    Payoff Personal Loans Community Reviews


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    Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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