Signature Loans

Request Your Loan

Your personal information is safe with us.
Read and agree to Terms of Use before submitting your request.

By: Frank Partnoy | Updated: 2024-03-03 12:32:03

If you need extra cash, you can always rely on signature loans online. These loans provide you with extra money that you can use for purposes like, home improvement, debt consolidation, car repair, medical bills. These unsecured loans can be used virtually for anything but keep in mind that some of these personal signature loans are expensive and should be used with caution.

What is a signature loan?

This is the loan that you qualify for based on your income and credit score. To get it, you do not need collateral aka it is an unsecured online loan - this is what makes them so popular among Americans who are low on cash.

These are called signature loans since the lender has except for your words that you are going to repay the amount according to the agreement between you and the lender.

How do signature loans work?


You can apply for a signature loan online or in-store to get a loan nearby. The application process is simple and no collateral is required to support the loan. Upon application approval you will receive an amount of money that you can spend on anything you want. These unsecured loans are one-time loans. Thus, you will have to apply for all the money that you require at once. If you have to get more money, you will have to apply for another loan.


Usually, you pay off the signature loans online over a period up to 36 months or less. Nevertheless, if you pay off the money earlier, you should look for lenders that do not charge prepayment penalties.

What are signature loan interest rates?

The interest rate you pay depends on the type of credit you apply for, lender's terms and state regulations if there are any. When you have a high credit score, you might get to enjoy a single-digit interest rate.

However, if the credit score is less than perfect, the signature loans can be quite expensive. For instance, some lenders will charge you with a 35% interest rate on installment loans and up to 1300% on payday loans.

Alternatives to signature loans with bad credit

If you do not have enough income or a bad credit score to get approval for a signature loan, you have several alternatives to consider:

  • Get a cosigner who will apply for the loan along with you. Thus, if you cannot make the payment, they are 100% responsible.
  • Pledge collateral and get a secured loan instead. This collateral can be valuables, vehicle title, or assets in your bank.
  • Improve your credit score by borrowing responsibly. Over time, the credit score is going to improve, however, this process might take years.

Signature loans with no hard credit check

A no hard credit check loan is specifically designed for people with low credit. If used properly, it can also be a helpful method for improving your credit score. A loan with no hard credit check will likely be for a smaller amount and have a significantly higher APR than a traditional loan.

Before requesting a loan without a hard credit check, you should carefully examine your financial situation. Sometimes a loan could make your situation worse, or you might be doing better than you expected.

Advertising Disclosure: At 24CashToday, we pride ourselves on transparency and integrity. Please note that we do not feature any paid advertisements or sponsored content on our website. All information provided is unique, objective, and independent. Our goal is to offer reliable financial information and quick access to loans, with your best interests in mind.