Is Personify Financial legit?
Yes, Personify Financial is a legitimate installment loan lender with an A+ rating on the Better Business Bureau (BBB) and hundreds of positive reviews. Loans are issued by either Personify Financial, a licensed lender, or First Electronic Bank, a Utah-chartered industrial bank, depending on where you live. It claims to have approved more than 440,000 loans to date.
What makes Personify Financial shine?
Personify stands out from the competition by offering starting interest rates as low as 36%, although you’ll likely need good credit to qualify for the best rate. By contrast, many installment loan lenders‘ rates start in the triple digits.
It also rewards customers in good standing by reducing its rates by a certain percentage after every six months of on-time payments. Other terms apply, so every loan may not qualify, but any way to reduce high rates is a plus.
Where Personify Financial falls short
Despite Personify’s relatively low starting rates, APRs can reach as high as 179.5%, making its loans very costly if you can’t pay them off early. It also charges origination fees up to 5% of the loan amount in most states. Plus, instead of deducting the fee from the loan amount, it’s added to what you borrow, so you’re essentially financing the fee as well.
Other types of personal loans for people with bad credit also charge origination fees, but they typically have rates capped at around 36%.
Personify Financial loan details
| Minimum credit score/credit range | No minimum |
| APR | 36% to 179.5% |
| Loan amount | $500 to $15,000 (varies by state) |
| Terms | 12 to 48 months |
| Approval turnaround | As soon as one business day |
| Availability | Available in: Alabama, Alaska, Arizona, Arkansas, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia |
| Fees | 5% origination fee Late fee NSF penalties |
| Other fees | Unknown |
Personify Financial contact info
| Phone number | 888-578-9546 |
| Customer service hours | Weekdays: 8 a.m. to 9 p.m. Saturdays: 8 a.m. to 5 p.m. |
| contact@personifyfinancial.com | |
| X ,formerly Twitter | @PersonifyFin |
| Personify Financial |
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How to qualify for Personify Financial
Here’s the criteria you need to meet to qualify for a Personify installment loan:
- At least 18 and a US citizen
- A valid Social Security number
- Proof of income
- An active checking account
You may also need to provide documentation to verify your income, employment or identity if the company can’t verify this information using its automated process.
How to apply
Follow these steps to apply for a loan with Personify Financial.
- Fill out the online application to prequalify.
- View loan offers if you qualify.
- Choose an offer and formally apply with a hard credit check.
If approved, you could receive funds as soon as the next business day, depending on the day and time you apply. For example, if you apply late on a Friday, you might not see the money in your account until the following Monday or Tuesday.
How Personify Financial compares to other lenders
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What is the Finder Score?
The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product’s interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate – this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you’re comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.
Read the full Finder Score breakdown
Personify Financial reviews and complaints
| BBB accredited |
Yes |
|---|---|
| BBB rating |
A+ |
| BBB customer reviews |
4.81 out of 5 stars, based on 702 customer reviews |
| BBB customer complaints |
62 customer complaints |
| Trustpilot Score |
4.8 out of 5 stars, based on 12,432 customer reviews |
| Customer reviews verified as of |
04 June 2025 |
Personify Financial gets high marks on both the BBB and Trustpilot. Customers praise the easy application process, fast funding and professional service. Many users highly recommend the lender to others and compliment the ability to get reduced rates with a history of on-time payments.
But some customers say it took longer than expected to receive the loan funds, the rates were too high and communication was poor if they had a problem.
What do people on Reddit say?
For the most part, people on Reddit suggest not taking out a Personify loan because of its high rates. But if you do, pay it off as soon as possible to minimize the interest charges.
Frequently asked questions
Can I pay off a Personify loan early?
Yes! There are no prepayment penalties, and you can easily make additional payments. If you pay by check, you can just increase your payment. Or, you can make extra payments through the borrower portal using your debit card or bank routing and account numbers.
What happens if you don’t pay Personify Financial?
The lender will likely report late or missed payments to the major credit bureaus, which can severely damage your credit score. If you default on the loan, it can stay on your credit report for up to seven years and affect your ability to qualify for new credit in the future.
If you’re having trouble making payments, contact your loan servicer right away to see if you qualify for help.
