RISE is an online lender that provides fast cash to borrowers who don't qualify for lower cost loans. Rates are expensive, but there are no hidden costs or prepayment penalty fees. RISE's personal loans include free access to your credit score and your on-time payments will be reported to a major credit bureau, which could help you improve your credit score.
Apply online to see the rates and terms applicable to your state. To qualify, you must have a job or another proven source of income, an email, a phone, a checking account and be at least 18 years old. Please note that payments are bi-monthly or monthly and that the first payment date is on your next payday. RISE has fixed rates that depend on the loan amount and the state you live in.
The rates vary from 36% APR to 365% APR depending on the loan amount and the state you live in. The lowest rates are only available in certain states.
Loan amounts range from $500 to $5,000 and the maximum term is 26 months. To illustrate, a 25-month loan of $5,000 with a 125% APR will cost you $265 every two weeks or $530 a month, which represents a total cost of $13,250.
The online application form only takes a few minutes to fill out, and in most cases, you will get a reply within seconds. If you're approved, you should get access to the cash within one business day. Rise offers a 5-day risk-free guarantee. So if you change your mind, you have five business days to repay the principal without having to pay interest or fees.
RISE has high rates but its socially responsible lending policy helps borrowers with poor credit rebuild their credit history.
This is what we like about RISE:
- RISE rewards borrowers who make on-time payments with lower rates on future loans.
- In most states, borrowers can choose their own terms, such as loan amount, and the length of the loan term.
- There are no extra fees for repaying the loan early.
- Five-day risk-free guarantee.