Chase offers personal loans through its Chase Personal Loan product, available to existing and new customers

Chase does offer personal loans. The product is called Chase Personal Loan, and you can get one whether you already bank with Chase or not. The loans range from $3,000 to $35,000, with repayment terms of 24 to 60 months. Interest rates vary based on your credit profile and the term you choose—Chase does not publish a single rate, so the actual rate you receive depends on your creditworthiness and the lender's assessment at the time you apply.

Chase Personal Loans are unsecured, meaning you do not have to put up collateral like a car or house. The money goes into your Chase checking or savings account, and you repay it in fixed monthly installments. Chase charges an origination fee that ranges from 1% to 10% of the loan amount, depending on your credit and the loan terms—this fee is deducted from the loan proceeds before the money reaches your account.

Key Takeaways

  • Chase Personal Loans range from $3,000 to $35,000 with repayment terms between 24 and 60 months.
  • The origination fee ranges from 1% to 10% and is subtracted from your loan amount before you receive the funds.
  • Interest rates are not fixed in advance; they depend on your credit score, income, and other factors Chase evaluates.
  • You can check your rate without a hard credit pull, which does not affect your credit score.

How to check your rate with Chase

Chase offers a rate check tool on its website that shows you an estimated rate range before you formally apply. This is called a soft inquiry, and it does not lower your credit score. You enter basic information—your income, employment status, and the loan amount you want—and Chase tells you the rate range you would likely receive.

If you proceed to a full application, Chase performs a hard inquiry, which does show up on your credit report and may lower your score by a few points temporarily. The hard inquiry stays on your report for about two years but stops affecting your score after roughly 12 months. Once Chase approves your loan, the money typically arrives in your account within one to three business days.

What Chase looks at when you apply

Chase evaluates your credit score, income, employment history, and existing debts. You will need to provide recent pay stubs or tax returns to verify income, and Chase will check your credit report. If you have a Chase checking or savings account, the bank already has some of your financial information, which can speed up the process.

Chase also considers your debt-to-income ratio—the percentage of your monthly income that goes toward debt payments. A lower ratio improves your chances of approval and a better rate. If you have recently missed payments, filed for bankruptcy, or have very limited credit history, Chase may deny your application or offer a higher rate.

Alternatives to Chase Personal Loans

If Chase denies you or the rate is too high, other banks and online lenders offer personal loans with different credit requirements. Banks like Wells Fargo, Bank of America, and Discover offer personal loans with similar terms. Online lenders like LendingClub, Upstart, and SoFi often have lower minimum credit score requirements and faster funding, though rates can be higher for borrowers with weaker credit.

Credit unions sometimes offer personal loans at lower rates than banks, especially if you are a member. If you have a specific purpose for the loan—like paying off credit card debt or financing a car—a balance transfer card, auto loan, or home equity line of credit might be cheaper. Compare the total cost, including fees and interest, across multiple lenders before deciding.

What happens after you receive the loan

Your first payment is typically due 30 days after the loan funds. Chase sends you a payment schedule showing the exact amount due each month and the date it is due. You can set up automatic payments from your Chase account or another bank account to avoid missing a payment.

If you miss a payment, Chase charges a late fee and reports the missed payment to the credit bureaus after 30 days. This damages your credit score and makes it harder to borrow money in the future. If you are struggling to make payments, contact Chase before you miss one—the bank may be able to work out a temporary arrangement, though this is not may provide.

Paying off the loan early

Chase does not charge a prepayment penalty, meaning you can pay off the loan in full at any time without extra fees. Paying early saves you money on interest. For example, if you have a five-year loan but pay it off in three years, you stop paying interest after three years.

You can make extra payments toward principal at any time. Some people make biweekly payments instead of monthly payments, which results in one extra payment per year and shortens the loan term. Check your loan agreement or call Chase to confirm there are no restrictions on how you structure your payments.

Frequently Asked Questions

What credit score do I need for a Chase Personal Loan?

Chase does not publish a minimum credit score, but most people approved have scores of 670 or higher. People with scores below 650 are rarely approved. The higher your score, the lower your rate will be. Use Chase's rate check tool to see if you are likely to be approved without a hard inquiry.

Can I get a Chase Personal Loan if I do not have a Chase bank account?

Yes. You can apply as a non-customer, but Chase will deposit the loan proceeds into a new Chase checking account. You can transfer the money to another bank after it arrives, though you will need to keep the Chase account open for the duration of the loan.

How long does it take to get approved and funded?

Approval can take anywhere from a few minutes to a few days, depending on whether Chase needs to verify your income or employment. Once approved, the money usually arrives in your account within one to three business days. Some applicants receive same-day approval and next-day funding.

What if I need more than $35,000?

Chase Personal Loans max out at $35,000. If you need more, you could take out multiple loans, but Chase limits how many you can have at once. A home equity line of credit or a larger personal loan from another lender might be a better option for larger amounts.

Can I change my loan term after I receive the money?

No. The term is locked in when you sign the loan agreement. You cannot extend it or shorten it through Chase. Your only option is to pay it off early if you want to reduce the total interest paid, or refinance with another lender if you want a longer term.