Chase personal loans are available through their website, phone, or in-branch, and the process typically takes three to five business days from approval to funding
Chase offers unsecured personal loans ranging from $500 to $35,000, depending on your creditworthiness and income. You can start the process online at chase.com, by calling 1-800-935-9935, or by visiting a Chase branch in person. The bank will pull your credit report during the application, which means your credit score will be checked and may temporarily dip a few points.
The entire process—from application to money in your account—usually takes three to five business days if you're approved. Chase funds loans via direct deposit to your checking account, so you'll need an active Chase account or be willing to open one. If you don't have a Chase account, opening one is free and can be done online or in-branch at the same time you apply for the loan.
Key Takeaways
- Chase personal loans range from $500 to $35,000 and require a credit check, which temporarily lowers your credit score by a few points.
- You can start your application online, by phone, or in person, and approval decisions usually come within one business day.
- Funding happens via direct deposit to a Chase checking account, which you may need to open if you don't already have one.
- Your interest rate depends on your credit score, income, and debt-to-income ratio; Chase does not publish a standard rate.
- You can repay the loan over 24 to 84 months, and Chase allows early repayment without penalty.
What Chase looks at when you apply
Chase will review your credit score, income, employment history, and existing debts. A credit score of 670 or higher generally improves your chances of approval and a lower interest rate, though Chase does lend to borrowers with lower scores. The bank uses your debt-to-income ratio—the percentage of your monthly income that goes toward existing debt payments—to decide how much it will lend you.
You'll need to provide proof of income, usually a recent pay stub or tax return. If you're self-employed, Chase may ask for two years of tax returns and a profit-and-loss statement. Employment history matters too; Chase prefers to see at least two years at your current job, though exceptions are made for recent job changes if your income is stable.
Chase will also check your banking history with them if you're an existing customer. A long history of on-time payments and low overdrafts strengthens your application. If you're new to Chase, opening an account before you apply won't hurt, but it won't give you an advantage either—the bank still runs the same credit and income checks.
How to apply online, by phone, or in branch
Online: Go to chase.com, navigate to Personal Loans, and select "Apply Now." You'll enter your personal information, desired loan amount, and purpose (though the purpose doesn't affect approval). Chase will show you an estimated rate and monthly payment before you formally apply. Once you submit, you'll receive a decision within one business day, usually within hours.
By phone: Call 1-800-935-9935 and ask for the personal loan department. A representative will walk you through the application over the phone and can answer questions about rates and terms in real time. Phone applications take about 15 to 20 minutes. You'll still need to provide income verification afterward, usually by uploading documents through your Chase account or emailing them to the loan department.
In branch: Visit a Chase branch and ask to speak with a personal banker about personal loans. They can start your application on the spot and answer questions face-to-face. In-branch applications follow the same approval timeline as online and phone applications. Some branches have loan officers on staff; others may refer you to call the phone line or complete the application online.
Interest rates, fees, and what you'll actually pay
Chase does not publish a standard interest rate for personal loans. Your rate depends on your credit score, income, and debt-to-income ratio, and ranges from roughly 6.99% to 19.99% according to Chase's current disclosures. The bank will show you an estimated rate before you formally apply, but your final rate may differ slightly once they verify your income and pull your full credit report.
Chase charges an origination fee of 1% to 8% of the loan amount, deducted from your disbursement. For example, on a $10,000 loan with a 5% origination fee, you receive $9,500 and repay $10,000 plus interest. There is no prepayment penalty, so you can pay off the loan early without extra charges. Chase also does not charge late fees in the traditional sense; instead, they may report late payments to credit bureaus if you miss a payment by 30 days or more.
Your monthly payment depends on the loan amount, interest rate, and repayment term. Chase offers terms from 24 to 84 months. A $10,000 loan at 10% interest costs roughly $211 per month over 60 months, or $159 per month over 84 months. Use Chase's loan calculator on their website to see exact payments for your situation before you apply.
What happens after you're approved
Once Chase approves your loan, you'll receive a loan agreement via email or mail, depending on how you applied. Review the agreement carefully—it lists your interest rate, monthly payment, origination fee, and repayment term. You have a right to cancel within three business days of receiving the agreement if you change your mind; Chase will refund any fees paid.
After you sign and return the agreement (or e-sign it online), Chase funds the loan via direct deposit to your checking account within one to two business days. Your first payment is usually due 30 days after funding. Chase will send you a payment schedule showing the exact due date and payment amount each month.
You can make payments online through your Chase account, by phone, by mail, or through automatic payments. Setting up autopay ensures you never miss a payment and may may have access to you for a small interest rate discount (typically 0.25% off) on some Chase personal loans.
When Chase might deny your application
Chase will deny your application if your credit score is too low (generally below 600), your income is insufficient relative to the loan amount you're requesting, or your debt-to-income ratio is already too high. If you have recent late payments, collections accounts, or a bankruptcy within the last two years, approval becomes less likely, though not impossible.
If Chase denies you, ask why. The bank is required to provide a reason under the Fair Credit Reporting Act. Common reasons include insufficient credit history, too much existing debt, or income that doesn't support the requested loan amount. If the reason is a credit report error, you can dispute it with the credit bureau and reapply after the error is corrected.
If you're denied, consider applying for a smaller loan amount, waiting a few months to improve your credit score or pay down existing debt, or exploring other lenders. Some online lenders and credit unions have lower credit score requirements than Chase, though their interest rates may be higher.
Alternatives if you can't get a Chase personal loan
If Chase denies you or the interest rate is too high, consider a credit union personal loan, which often has lower rates and more flexible credit requirements. If you have a Chase credit card with available credit, a balance transfer or cash advance is another option, though both carry higher interest rates than personal loans. A secured personal loan—backed by savings or a vehicle—may also be available through Chase or other lenders if you have collateral.
If you need money quickly and have poor credit, a payday loan or title loan is possible but carries very high interest rates (often 400% or more annually) and should be a last resort. Peer-to-peer lending platforms like LendingClub or Prosper may also lend to borrowers with lower credit scores, though rates vary widely.
Frequently Asked Questions
How long does it take to get approved for a Chase personal loan?
Chase typically makes an approval decision within one business day of your application, often within hours if you apply online. Funding to your account takes an additional one to two business days after you sign the loan agreement. The entire process from application to money in your account is usually three to five business days.
Can I get a Chase personal loan with bad credit?
Chase generally prefers credit scores of 670 or higher, but some borrowers with scores in the 600 to 669 range have been approved. If your score is below 600, approval is unlikely. If you're denied, you can reapply after paying down existing debt or waiting for negative marks to age on your credit report.
Do I need to be a Chase customer to get a personal loan?
No, but Chase funds loans via direct deposit to a checking account, so you'll need one—either with Chase or another bank. If you don't have a Chase account, you can open one for free at the same time you apply for the loan, or use an existing account at another bank for the deposit.
Can I pay off a Chase personal loan early without a penalty?
Yes. Chase personal loans have no prepayment penalty, so you can pay off the entire balance at any time without extra charges. Paying early reduces the total interest you'll pay over the life of the loan.
What if I miss a payment on my Chase personal loan?
If you miss a payment by 30 days or more, Chase will report it to the credit bureaus, which will damage your credit score. Contact Chase immediately if you can't make a payment; they may offer a deferment or modified payment plan. Continuing to miss payments can result in default and legal action to recover the debt.