If you're searching for a personal loan and want to compare offers, SuperMoney Personal Loans is perfect for you.
What is SuperMoney Personal Loan?
SuperMoney is an online platform that allows you to evaluate loan and tax relief options from various businesses. Since its inception in 2013, the company has evolved into an online market that connects customers with lending products. SuperMoney lets you browse for funding tools tailored to your specific requirements. One of their most preferred services is student loan refinancing.
What services does SuperMoney offer?
The SuperMoney platform offers a wide range of financial products and services. While only a few services are featured on the site's main page, you can access the complete list once you click on the service you need. You can then open the navigation menu to compare loan offers.
SuperMoney's loan matching service works directly with lenders to help borrowers with a wide range of credit scores. Its simplified application process allows you to view the loan programs you might be eligible for when the process gets done. Moreover, your credit score is not affected until you complete the application.
SuperMoney offers the following multiple loan services:
They also offer:
The most popular services in the SuperMoney platform are student loans and auto loans.
Since SuperMoney functions with multiple quality lenders, you'll only have to meet a few criteria to apply. A minimum credit score of 600 is required to qualify.
How does SuperMoney work?
Steps to follow
Follow these instructions when you are ready to compare loan alternatives:
Information you need to provide
While nothing is required to fill out SuperMoney's pre-qualification form, you will most likely need to provide the following information when applying with a lender:
To view your loan offers, you might need to create an account. Examine your choices and see if any of them pique your interest. SuperMoney will direct you to the lender's website where you can complete the online application. SuperMoney is not a direct lender.
However, it does assist users in becoming pre-qualified. Because SuperMoney is a marketplace, you could use this to get pre-qualified prices from various lenders using a single form. The overall process takes just a few minutes to complete.
What are the rates and fees of SuperMoney?
The website says that loans are available for up to $100,000 and that APR starts at 5.49% and can reach 35.99%. However, it is highly improbable that you might cut this 'starts at' rate. The precise APR is determined by many factors, such as credit score, payment history, annual income, and existing loan amount. Loan terms range from 12 to 84 months.
What are the repayment terms of SuperMoney?
SuperMoney includes a free-to-use comparative service with no hidden fees. Applicants are not charged origination fees, service charges, or penalty fees. Nevertheless, to get the correct rates and terms, you must apply. When you receive offers, you can then compare loan amounts and terms.
SuperMoney compels lenders to stay competitive so they can get borrowers' attention. Lenders offer reasonable rates and, sometimes, additional benefits like no origination or prepayment charges.
What are the pros and cons of SuperMoney?
SuperMoney provides many tools to help you find the right financial services and products.
SuperMoney is for individuals currently making payments on a student loan and want to close their loan or lower the monthly payment amount. They will help you find a lender aligned with your financial goals and teach you how to identify the right one.
You can benefit from lower rates if you replace your current student loan with one from SuperMoney's marketplace of lenders. Moreover, because you decided to take your first loan to apply to college, you likely had a relatively low credit score, hence a comparatively high APR on your loan. Many college graduates have better credit scores later in life and can use those scores to get better loan offers. If this describes you, apply to SuperMoney and check out what their lenders have to offer.
SuperMoney compares favorably to other top auto loan marketplaces. It’s compatible with many auto loan options, such as purchase loans, refinancing, and leasing. Its lenders offer loans with several credit scores, loan amounts, and loan terms. SuperMoney, like some other marketplaces, urges lenders to stay competitive in the interest of borrowers. Therefore, its lenders offer competitive rates and sometimes a few benefits.
Do your own research before taking out a personal loan, as you would with any other financial decision. You should weigh all your alternatives to ensure you get the right deal.Where personal loans are concerned, SuperMoney has a high success rate and positive customer feedback. Their marketplace offers a variety of loan options, allowing you to find one that meets your requirements while remaining within your budget. SuperMoney is a legitimate company with a Trustpilot rating of 4.9 stars out of 5 based on 340 customer reviews.