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Prosper: Personal Loans

Borrowing just got a digital upgrade: The app gives users direct control over their financial options.

Key Figures

Downloads

500k+

User Rating

4.8/5

Total Ratings

21.7K

Publisher

Prosper Marketplace, Inc.

An analytical overview of key features enhancing user financial management and loan accessibility.

Core Functionalities of Prosper: Personal Loans

Expedited Funding

This tool facilitates quick access to funds, with the possibility of receiving funding as early as the next business day, provided conditions are met.

Comprehensive Loan Management

This tool provides extensive features for managing existing loans, including making manual payments, setting up automatic payments, and monitoring loan progress.

Quick Loan Estimation

The app provides a rapid estimation of personal loan amounts, interest rates, and monthly payments, allowing users to assess options anonymously.

Streamlined Application Process

It enables users to complete and submit a loan application directly from their mobile device efficiently, often in under five minutes.

Flexible Loan Options

The app offers a range of fixed-rate personal loans from $2,000 to $50,000, catering to diverse financial needs with transparent terms.

Customizable Loan Terms

Users can select flexible repayment terms, typically ranging from 2 to 5 years, allowing them to tailor the loan to their financial capacity.

Biometric Security Login

The app enhances security and convenience by enabling users to log into their accounts using biometric authentication methods like fingerprints or face recognition.

Application Continuity

It ensures a seamless application experience by allowing users to resume their loan application exactly where they left off, preventing loss of progress.

FAQ

Frequently Asked Questions

Everything you need to know about Prosper: Personal Loans

How does Prosper: Personal Loans estimate my loan rate?

The Prosper: Personal Loans app allows users to estimate their personal loan amount, interest rates, and monthly payments in under two minutes without requiring a phone number or email.

What is the maximum loan amount available through the Prosper: Personal Loans app?

The Prosper: Personal Loans app offers fixed-rate, low-interest personal loans ranging from $2,000 up to $50,000. Eligibility depends on applicant information and investor commitments.

Can I get next-day funding with Prosper: Personal Loans?

Yes, the Prosper: Personal Loans app facilitates next-day funding in as little as one business day if you meet the required conditions. Applications can be submitted in under five minutes.

What are the Annual Percentage Rate (APR) ranges for Prosper personal loans?

Annual Percentage Rate (APR) for personal loans through Prosper: Personal Loans ranges from 8.99% to 35.99%. The app offers the lowest rates to the most creditworthy borrowers.

Can existing borrowers manage their loans with the Prosper: Personal Loans app?

Yes, existing borrowers can manage their personal loans within the Prosper: Personal Loans app. Features include making manual payments, setting up automatic payments, and tracking loan progress.

Does Prosper: Personal Loans offer free FICO® Scores?

Yes, the Prosper: Personal Loans app provides FICO® Scores for free. This feature is available to active loan borrowers to help them track their credit health.

Who makes the personal loans offered through the Prosper: Personal Loans app?

All personal loans facilitated through the Prosper: Personal Loans app are made by WebBank. Prosper acts as a platform connecting borrowers with funding.

Does checking my rate with Prosper: Personal Loans affect my credit score?

No, researching your options or getting an estimate with the Prosper: Personal Loans app does not impact your credit score. Selecting a pre-approved offer also does not affect it.

What are the available loan terms for Prosper personal loans?

Prosper: Personal Loans offers loan terms with a minimum of 2 years and a maximum of 5 years. This provides flexibility in choosing a repayment schedule.

Can I use Face Recognition or Fingerprints to access my Prosper: Personal Loans account?

Yes, existing borrowers can securely log in to their My Prosper Account using Face Recognition or Fingerprints through the Prosper: Personal Loans app, enhancing security and convenience.

The following screenshots and description are sourced directly from the app's official store listing and are the property of the app developer.

App Store

Screenshots

Description

Explore new personal loan options or manage your existing loan through the Prosper: Personal Loans App. New to Prosper? Take two minutes to estimate your personal loan amount, interest rates, and monthly payments all without sharing your phone # or email. Like what you see? Submit your application in less than 5 minutes through the Prosper: Personal Loans App, and get ready for next-day funding(in as little as one business day if you meet required conditions). Access fixed rate, low interest personal loans from $2,000 to $50,000. - Get an estimated loan amount and interest rate in three taps & two minutes - Choose between a minimum 2 year term or a maximum 5 year term (1) - Submit an application directly from your phone in less than minutes - Annual Percentage Rate (APR) ranges from 8.99% to 35.99%, with the lowest rates for the most creditworthy borrowers - Application got interrupted? Pick up right where you left off - Get next-day funding in as little time as one business day if you meet required conditions - All personal loans made by WebBank Already a borrower? Manage your personal loan with ease from anywhere through the Prosper: Personal Loans App. Now you can log in to your My Prosper Account easily and securely with Fingerprints or Face Recognition . Make a payment, set up automatic payments, and track the progress of your loan. All from the palm of your hand. Forget passwords & boost security. Use Face Recognition/Fingerprints to access your My Prosper Account - Keep an eye on automatic payments or make a manual payment anytime, anywhere (1)For example, a three-year $10,000 personal loan would have an interest rate of 9.38% and a 9.99% origination fee for an annual percentage rate (APR) of 16.74% APR. You would receive $9,001.00 and make 36 scheduled monthly payments of $319.77. A five-year $10,000 personal loan would have an interest rate of 11.14% and a 9.99% origination fee with a 15.84% APR. You would receive $9,001.00 and make 60 scheduled monthly payments of $218.12. Origination fees vary between 1% and 9.99%. Personal loan APRs through Prosper range from 8.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank. About Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States. Since then, we've facilitated over $19 billion in personal loans to more than one million people. Through Prosper, people can invest in each other in financially and socially rewarding ways. Borrowers apply online for fixed-rate, fixed-term loans between $2,000 and $50,000. Individuals and institutions can invest in the loans and earn solid returns.