Earnest Personal Loans was founded in 2014 and is based in the silicon valley. Earnest uses a custom algorithm that helps identify loan prospects and gives them the ability to consider more than just a credit score. Earnest looks at education, savings history, and future earning potential. This diagram provided by Earnest provides helpful insight into their process.  

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Quick Snapshot

  • Loan Amounts:  $5000 to $75,000 
  • Credit Score:  660+ 
  • 3 year APR:  5.49% to 14.24%
  • 4 year APR:  7.49% to 16.24%
  • 5 year APR:  9.49% to 18.24%
  • Terms:  3 to 5 years
  • Fees:  No fees for origination, no prepayment fees, and no anything fees
  • Earnest Stands Out
    • Earnest Offers Lower Rates Through Better Data: The Earnest driven application process gives extra credit for financial responsibility
    • Soft Pull only to start
    • Faster response times because they use technology to improve and accelerate their decisions
    • Lifetime service provided in‐house. Unlike other lenders, Earnest will never pass you off to third-­‐party services

Detailed Terms and Conditions

Loan Amounts $5,000 - $75,000
Required Credit Score 660+
Doesn't lend in Alabama,  Delaware,  Kentucky,  Nevada,  Rhode Island
Types of Income Proof of consistent income (USD)
Variable Rate Option No - Not Available
APR Range (3 Year APR 5.49% to 14.24%) - (4 Year APR 7.49% to 16.24%) - 5 Year APR 9.49% to 18.24%)
Loan Term 3 - 5 Years
Repayment Schedule Monthly, increase your amount, extra payments
Credit Inquiry Soft Inquiry for a rate check, Hard Inquiry with loan application
Fees and Closing Costs None
Secured Loans Unsecured
Co-Signer No
Direct Deposit Yes
Loan Purpose Credit Card Refinancing,Home Improvement, Wedding, Security Deposit, Unaccredited Education
Qualifications U.S. Citizen, Permanent Resident
Allows Military Yes
Insurance Forbearance Protection
Legal Documents Required 2 or 10 yr. Green Card, Visa Types: TN, E, O, (H1B or F1 with conditions)
Number of Offers Not Available
Customer Service Phone, email, text or chat

The loan process is very fast and you will know if you are approved within minutes.


The Earnest security information explains that they will not use your information beyond the loan application and your data is very secure with 256 SSL encryption. 


If you are looking for a three-year loan term and have very good credit, you will fit very well with Earnest. If you have high income and can pay off your debt very quickly, Earnest is a great option.

If you require a longer loan term to reduce your monthly payments or a higher loan amount, we have provided other personal loan options.

Explanation of $30,939 Average Client Savings Average savings calculation is based on all Earnest clients who refinanced student loans owned and serviced by Navient between 03/06/2017 and 03/31/2018. The savings figure of a particular client is calculated by subtracting the projected lifetime cost of their Earnest refinancing from the projected total cost of their original student loans. HOW WE CALCULATE THE FIGURES: For the original student loans, the projected lifetime costs are calculated using the weighted average term of the original loans and the weighted average interest rate in effect in the month prior to the refinance event, including borrower benefits (e.g. automatic payment discounts). For the refinanced loans, projected lifetime costs are calculated using the selected Earnest term and interest rate, also including borrower benefits. Projected lifetime costs assume a principal balance of $75,000. Projected monthly savings is derived by using the “projected lifetime savings” divided by the selected Earnest term IN ORDER TO CALCULATE OUR AVERAGE CLIENT SAVINGS, WE EXCLUDED: Savings from any client that selected an Earnest loan with a longer term than their Navient student loan terms Loans resulting from a client refinancing the same Earnest loan with Earnest Average client savings amount is not predictive or indicative of your individual cost savings. For example, your individual savings may differ based on your loan term and rate type selections, if you change your repayment options, or if you pay off your student loans early. Explanation of Rates “With Autopay” Rates shown include 0.25% APR reduction when client agrees to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive an Earnest loan. Explanation of Precision Pricing™ Savings Savings calculations are based on refinancing $121,825 in student loans at an existing loan servicer’s interest rate of 7.5% fixed APR with 10 years, 6 months remaining on the loan term. The other lender’s savings and APR (light green line) represent what would happen if those loans were refinanced at the other lender’s best fixed APRs. The Earnest savings and APR (white line) represent refinancing those loans at Earnest’s best fixed APRs. Savings is computed as the difference between the future scheduled payments on the existing loans and payments on new Earnest and “other lender” loans. The calculation assumes on-time loan payments, no change in interest rates, and no prepayment of loans. Client Testimonials Individuals portrayed as Earnest clients on this site are actual clients and were compensated for their participation.