OppLoans Review

Is this the loan company for you?

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  • The minimum loan is a small amount
  • Loans fund fast after approval


  • Interest rates on loans are high
  • Maximum loan is small & terms are short

What You Need to Know

The minimum loan for OppLoans is a low amount. Customers can apply for a $500 loan. This amount may vary depending on the state you live in and your qualifications. You do not have to apply for a large loan from OppLoans.

Once you have OppLoans approval, the money transfers into your account quickly. After approval, the funds can be available within the next business day. Funding and approval times vary depending on your application and your bank.

The interest rates on all OppLoans loans are high. They are much higher than other online lending companies. OppLoans lowest rate is almost three times more than the highest rates of other companies. The soft credit check can help determine your interest rate for you OppLoans loan.

The loans available through OppLoans are only available in small amounts. The maximum loan amount is $4,000. This amount may change based on the state where you live. The term lengths are also short. The loan repayment term lengths are up to 36-months.

Qualifications to Apply for OppLoans Loans

Useful Information About OppLoans Loans

Additional Relevant Information

The OppLoans website offers a financial education course called OppU. This program covers spending, saving, budgets, credit, and debts. Each topic has videos to watch and a quiz to take. There are also articles covering financial issues. OppLoans offers this to help customers learn how to better their financial situation.

All OppLoans customers must receive their paycheck through direct deposit. A checking or savings account are allowed. The bank account you list must have your name on the account and have been active for longer than 90 days.

Customers can refinance their loans with OppLoans. You must qualify to refinance and be current on your loan payments. You can see refinance options when you log into your OppLoans account.

History and Achievements

OppLoans is a company for those with non-prime credit. Their loan interest rates are high. Qualifying may be easier for those who have less-than-perfect credit. OppLoans works to provide excellent customer service and show compassion to their customers.

OppLoans received an A+ business rating with the Better Business Bureau. They were named one of:

Frequently Asked Questions

Can I apply for a loan entirely online?

Yes. Applying online is the only way to apply for a loan with OppLoans. They do not accept applications over the phone.

What is the lowest my credit score can be?

OppLoans does not have a minimum required credit. Approval is based on more than just your credit score. A soft credit check will help you know if you qualify for an OppLoans loan.

What is the smallest loan amount available?

The minimum loan amount is $500.

What is the largest loan amount available?

The maximum loan amount is $4,000.

What are the loan term lengths?

The term lengths are up to 36-months. Your loan length can vary based on your qualifications and where you live.

Are the interest rates competitive?

The interest rates for OppLoans are not competitive with other lending options. They are much higher. OppLoans lowest rate is almost three times higher than the highest rate of other online lending companies.

Are the interest rates fixed?

Yes. The interest rate you receive upon OppLoans approval is the rate for the life of the loan.

What types of loans are available?

OppLoans offers personal installment loans.

What information do I need to apply for a loan?

To apply for a loan, you must live in a state where OppLoans operates. You must be of legal age and have a regular source of income. OppLoans requires a checking or savings account where your paycheck is directly deposited. A valid email, address, bank account, and SSN are required. Other information may be necessary depending on your application.

How long does approval take?

You could have OppLoans approval in minutes. Some applications may take longer to reach approval.

How long will it take the money to enter my account after approval?

Once you have loan approval, the money transfers within one to three business days. When your money transfers depend on what time you receive your loan approval.

If I have been denied a loan before, how long do I have to wait to apply again?

You can reapply within 30 days of being denied. If you reapply, OppLoans requires you to sign in with the same email you did the first time.

What are the payment options to repay my loan?

The repayment options for OppLoans depends on the state where you live. Most states allow automatic withdrawals from your account. OppLoans also allows debit card payments in some states.

Can I pay my loan off early?

Yes. There are no fees for paying your loan off early.

Is my information secure?

OppLoans maintains physical, technical, and administrative safeguards to protect your information. They limit what personal information employees can see. Only the employees who must see personal information can access it. Their security measures comply with federal laws.

Does this loan company offer a mobile app?

The OppLoans website does not list a mobile app. They do have a section on their website showing financial apps. These apps can help you learn how to save money, budget, and find deals.

How do I contact customer service?

OppLoans customer service is available Monday through Friday, from 7 a.m. to 11:30 p.m. CT. They are open Saturday and Sunday from 9 a.m. to 5 p.m. CT. You can also follow OppLoans on Facebook, Instagram, and Twitter.

Bank Contact Information

130 E. Randolph St., Suite 3400
Chicago, IL 60601