To get a signature loan, simply apply for an unsecured loan online, by phone or in person, then provide your signature electronically or physically to accept the loan offer if you're approved. The process of getting a signature loan differs slightly by specific loan type, but it's generally the same as getting a personal loan.
How to Get a Signature Loan
Figure out what type of loan fits your needs. There are many types of signature loans available, such as personal loans, student loans and wedding loans. They will have different purposes, terms and requirements, but signature loans will not require any collateral.
Check your credit score. Checking your credit score can help you see if you're on track to get approved for a loan or if you need to improve your score before applying. You can check your credit score for free on WalletHub.
Pre-qualify if possible. Pre-qualifying tells you which lenders may approve you and what rates may be available to you. However, not all lenders allow you to pre-qualify before you officially apply. You can pre-qualify with multiple lenders for free on WalletHub.
Compare your options. The most important things to keep in mind when comparing loan options are the APRs, fees, term lengths, loan amounts and approval requirements. The best loans will have low minimum and maximum APRs, long term lengths, large loan amounts and no fees.
Choose the loan that works best for you. Choosing a loan will depend on a number of factors, like which loan offers the best terms and whether you meet the credit score and income requirements
Submit an application. To apply for a signature loan, go to the lender's website, call customer service or go in person to a branch. The lender will need some personal information like your name, address and date of birth. They will also need some financial information, like your employment status and income. More often than not, the lender will do a hard pull of your credit history.
Wait for a decision and receive the funds. If you get approved, it will take up to a few business days to get the funds. The lender will either make a bank transfer or send a check in the mail. For personal loans, the entire process from applying to getting the money usually takes up to 7 business days.
After you get your funds, you'll have to start repaying the loan over time. This could take months or years depending on the loan you get. To start comparing options, check out the top-ranked signature loan offers on WalletHub.