Best for:
- Borrowers who want to consolidate high-interest credit card debt
- Borrowers who need fast access to funds (as soon as two business days)
Achieve, previously known as FreedomPlus, is a personal loan platform that provides fast funding and competitive rates, particularly if you’re taking out a loan to pay off other debts. Here’s what you should consider before taking out a personal loan with Achieve.
In this post:
- Achieve interest rates and loan details
- Achieve personal loans review
- How Achieve compares to other lenders
- How to take out a personal loan with Achieve
- What to consider before applying for a Achieve personal loan
Achieve interest rates and loan details
Achieve offers fixed-rate personal loans between $7,500 and $50,000, with repayment terms ranging from two to five years. Expect to pay an origination fee of up to 5.99% when you take your loan out. But if you want to pay an Achieve personal loan off ahead of time, the lender doesn’t charge any prepayment penalties.
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| Credible rating | 
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| Fixed rates |
7.99% - 35.99% APR
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| Loan size | $7,500 to $50,000 |
| Loan terms | 2 to 5 years |
| Origination fees | 1.99% to 5.99% |
| Time to get funds | If approved, funds sent within 24-72 hours† |
| Residency |
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| Prepayment penalty | None |
| Key benefits | Quick decision and funding |
| Loan use | Debt consolidation, home improvement, wedding, travel, major purchases, medical expenses, moving expenses, car repairs |
| Best if you: |
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Achieve personal loans review
Achieve says its goal is to help you make smarter decisions based on your specific circumstances and needs. Achieve offers personal loans for many loan purposes, but its loans can be especially useful for debt consolidation.
That’s because you may qualify for a lower rate if you use at least 85% of the loan funds to pay off existing debt, such as high-interest credit card balances. Consolidating high-interest debt can help you streamline your monthly payments into just one manageable payment to keep track of. It can also help you get out of debt sooner.
Adding a cosigner or showing proof of retirement savings could also help you get a better rate, the company says. The ability to repay your loan in its entirety at any time without a prepayment penalty is also a plus.
If you need money quickly, Achieve can disburse your loan in as soon as two business days, which can be helpful if you need to cover an unexpected expense.
Learn More: How Personal Loans Affect Your Credit Score
How to qualify
To qualify for a personal loan with Achieve, you’ll need proof of income and a verified bank account. After you’ve filled out the company’s online application, you’ll talk to a loan consultant whose stated aim is to “go beyond your credit report to qualify you for a loan.”
You can expect to get a decision on your loan application the same day you apply, and you can receive your funds in as soon as two business days after uploading documents and signing your loan contract.
You’ll need to be a U.S. citizen or legal resident and at least 18 years old in most states to qualify (19 is the minimum age if you live in Alabama or Nebraska). Achieve loans aren’t available in Nevada.
Also, while Achieve doesn’t offer loans of less than $10,000 in most of the U.S., the minimum can be higher or lower in some states:
- Arizona: $10,500
- Ohio: $5,500
- Georgia: $3,500
Learn More: How Personal Loans Work
Repayment
Achieve offers repayment terms ranging from two to five years. The shorter the repayment term, the lower the interest rate you’ll typically qualify for. Paying your loan off faster also means you’ll pay less overall interest.
A longer loan term will mean a lower monthly payment since you’re spreading your payments out over a longer period of time, but you’ll pay more interest over the life of the loan.
- Two-year loan: Your monthly payment would be $452 and you’d pay a total of $855 in interest.
- Five-year loan: Your monthly payment would be much lower, at $203, but you’d also pay much more interest — $2,166.
Use our personal loan calculator below to estimate your monthly payments. Simply enter the loan amount, interest rate, and loan term to see how much you’ll pay over the life of the loan.
Enter your loan information to calculate how much you could pay
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.
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How Achieve compares to other lenders
Here’s how Achieve compares to two other similar Credible partner lenders:
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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| Fixed rates | 7.99% - 35.99% APR | 9.57% - 35.99% APR | 11.25% - 24.5% APR |
| Loan Amounts | $7,500 to $50,000 | $1,000 up to $40,000 | $5,000 up to $40,000 |
| Time to get funds | If approved, funds sent within 24-72 hours† | Usually takes about 2 days† | As soon as 2 to 5 business days after verification |
| 1Between January 2023 and March 2023, Personal Loans issued by LendingClub Bank were funded within 44 hours after loan approval, on average. 31% of Personal Loans issued by LendingClub Bank during the same period were funded within 24 hours after loan approval. Loan approval, and the time it takes to issue a credit decision, are not guaranteed and individual results vary based on creditworthiness and other factors, including but not limited to investor demand. | |||
How to take out a personal loan with Achieve
Achieve can be a good choice if you don’t need to borrow more than $40,000 — particularly if you’re consolidating credit card debt. You can apply for an Achieve personal loan on the lender’s website, and you can also apply on Credible.
To apply, you’ll need:
- A valid ID
- Verified income and bank account information
- An electronic signature
You can receive a loan decision the same day you apply, and you’ll be able to talk to a loan consultant who can help you qualify.
What to consider before applying for a Achieve personal loan
Achieve provides quick loan decisions and fast funding, as well as competitive rates. But here are some things to keep in mind before you apply:
- Fairly high loan minimum: At $7,500, Achieve has a fairly high minimum loan amount. If you don’t need to borrow this much money, you’ll want to consider a different lender.
- Charges a loan origination fee: Many lenders charge origination fees, but this fee can eat into the total loan amount you’ll receive. It’s possible to find a lender that doesn’t charge this fee, especially if you have good to excellent credit.
It’s always a good idea to compare rates from multiple lenders. Credible lets you fill out a single form and request rates from some of the best personal loan companies, including Achieve. The process takes just two minutes and won’t affect your credit score.
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Checking rates won’t affect your credit
The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request prequalified rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting prequalified rates is free and doesn’t affect your credit score. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.
About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 5.40%-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 10%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
