Achieve 2025 Personal Loan Review

Achieve offers personal loans that work well for consolidating large amounts of credit card or other unsecured debt. The lender offers personal loans for borrowers with fair, good and excellent credit scores. Its average borrowers have good credit and strong household incomes.

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Achieve personal loans at a glance

• Disclosure from AchieveDisclosure from Achieve

  Personal loans available through Achieve Personal Loans (NMLS ID #227977) are originated by Cross River Bank, a New Jersey State Chartered Commercial Bank, Equal Housing Lender. Loan applications are subject to credit review, underwriting criteria, and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. For loans $35,000+ must have a minimum 660 credit score. APRs range from 8.99% to 29.99% and include applicable origination fees that vary from 1.99% to 8.99%. Repayment periods range from 24 to 60 months. Example loan: four-year, $20,000 loan with an origination fee of 8.99%, a rate of 15.49%, and corresponding APR of 20.77%, would have an estimated monthly payment of $561.60 and a total cost of $26,966.26. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Loan Consultants for Achieve Personal Loans are available Monday-Friday 6 AM to 8 PM AZ time, and Saturday-Sunday 7 AM to 5 PM AZ time. Offer assumes rate savings with addition of a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; and/or showing proof of qualifying retirement savings. Meeting one or up to all three of the savings options could help some customers qualify for lower rates and will fall within our standard range of rates. Offered interest rate savings are not guaranteed, will vary based on several factors, and are subject to credit approval and other conditions. To be considered for any savings option, customers must apply for and submit a new Achieve personal loan application, meet one or up to all three of the savings options, and meet our underwriting criteria. Applicants with good credit who qualify for the lowest rate and amount may not be eligible for additional savings. Not all applicants will be approved. Advertised savings rates are subject to change without notice.

Where Achieve personal loans stand out

Multiple rate discounts: Achieve offers three rate discounts. Borrowers who opt for a joint loan may qualify for a co-borrower discount that reduces their APR by 2 percentage points on average. Borrowers who have debt consolidation loan proceeds sent directly to their creditors can get a discount that’s typically about 3 percentage points. Borrowers who show proof of sufficient retirement savings in a 401(k), individual retirement account (IRA), Roth IRA or thrift savings plan (TSP) may get a retirement asset discount of about 1 percentage point.

Direct payment to creditors: Borrowers can use Achieve personal loans for debt consolidation and have loan proceeds sent directly to their creditors, streamlining the process. Funds are typically sent one to three days after loan approval, though the lender says it could take five to 15 business days for the money to be credited to your accounts.

Joint loan option: Loan applicants may improve their chances of loan approval or getting a lower interest rate by adding a co-borrower to the application who’s in better financial shape.

Same- or next-day funding: Achieve says it typically makes approval decisions on completed loan applications in 30 minutes or less. Once a borrower is approved, the lender can send funds that same day, though it could take between one to three days for the money to be available in the borrower’s bank account.

Customer support available seven days a week: While some lenders lack customer service hours on the weekends or on Sundays, Achieve has daily customer service support. Customers navigating the application process can work with a dedicated loan consultant. If borrowers find themselves unable to make a payment on time, they can reach out to customer service to change their payment due date or discuss hardship accommodations.

Where Achieve personal loans fall short

Origination fee: Achieve charges an origination fee ranging from 1.99% to 8.99% of the loan amount. The fee is deducted from the loan before funds are disbursed, reducing the amount of money you’ll receive.

High minimum loan amount: Achieve has a minimum loan amount of $5,000, which doesn’t make it a viable choice for smaller expenses.

Reports payments to only two of the three major credit bureaus: Achieve reports loan payments to Experian and Equifax but not TransUnion. This means if a future creditor, landlord or employer only uses TransUnion to check your credit, they won’t see any positive payment history you might have by repaying your Achieve personal loan on time.

No mobile app: Unlike many other online lenders, Achieve does not offer a mobile app for borrowers to manage their loans.

How to use Achieve personal loans

Do you qualify for an Achieve personal loan?

Achieve offers loans to borrowers with fair credit or better. It uses the FICO 10T credit scoring model, which helps Achieve expand loan access to more borrowers, according to the lender.

To apply for an Achieve personal loan, you must be a resident of one of the 40 states where Achieve’s loans are available. Achieve’s loans are not available to residents of CO, CT, HI, KS, ME, ND, VT, WV, WI and WY.

Achieve’s borrowing requirements

• Minimum credit score: 640.

• Maximum debt-to-income ratio: 70%, including mortgage payments.

• Minimum credit history: 3 years and 2 accounts.

• Must be a U.S. citizen or permanent resident.

• Must provide a Social Security number or Individual Taxpayer Identification Number (ITIN).

• Must have a valid email address and a valid U.S. bank account.

• Must provide proof of residency and proof of employment or income.

Achieve’s average borrower snapshot

• Average borrower’s credit score: 700.

• Average annual income: $130,000.

• Average loan amount: $23,000.

• Average APR: 17.5%.

• Most common loan term: 5 years.

• Most common loan purpose: Debt consolidation.

» MORE: How to get a personal loan

How we rate Achieve

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored Achieve this year: