Zable Personal Loans: 2024 Review

Zable is a financial institution that offers unsecured personal loans and aims to use technology to simplify the borrowing process. While originally founded 10 years ago in the U.K., it began serving the U.S. in 2022 with loans originated through Cross River Bank and New Horizon Bank.

Today, Zable's U.S. loans stand out due to fast, same-business-day funding, and a low starting loan amount in most states they serve. On the downside, they're only available in 28 states and the District of Columbia, and may not be best for people with excellent credit.

Best for same-day funding

If you need a personal loan fast, Zable may be able to help. It offers same-day funding if your loan is approved before 3:30 p.m. ET on a business day. In comparison, some other lenders may require you to wait up to five business days before the funds hit your account.

Great for small short-term loans

Zable can also be a good fit if you're looking for a small loan with a short term. It offers loans as small as $1,000 with terms as short as 12 months. Many other lenders have minimum terms of two to three years and may require you to borrow a higher minimum loan amount.

What to consider before applying

Before applying for a personal loan with Zable, you should compare all of your options. Many lenders, including Zable, let you check if you prequalify without hurting your credit score. Prequalification includes a soft credit check and is not an official offer of credit. Rates may vary if you choose to apply.

To find the best deal for your budget, you'll need to shop around, collect quotes, and compare them side by side. The key factors you'll want to compare are:

• Loan amounts
• Terms
• APRs
• Upfront fees
• Interest rates
• Monthly payment amounts
• Overall costs

Check your rates with a pool of leading lenders.

How to qualify for a loan with Zable

Zable doesn't share any specific eligibility requirements for its loans online. However, during the prequalification process, it requires you to share your employment status, enter your annual gross income, and allow a soft credit check. Additionally, a hard credit check is required if you want to move forward with a quote, which can temporarily ding your credit score. All that said, the best way to find out if you're likely to qualify is to fill out the quick prequalification form on Zable's website.

How to apply for a loan with Zable

To apply for a personal loan with Zable, follow these steps:

• Head over to Zable's U.S. website at https://www.zable.com/loans or check prequalified rates below.
• Click "Check my rates."
• Enter the loan amount you want.
• Select the loan purpose.
• Enter your name, email, mobile number, birth date, and Social Security number.
• Add your employment status and annual gross income.
• Enter your address and select your homeowner status.

If you prequalify, Zable will present you with an estimate of the loan amounts, rates, fees, and terms you can get. If you want to move forward with one, you'll need to complete the full application process, which involves a hard credit check and further verification. Upon approval, you can have the funds sent to your bank account as soon as the same business day.

How to contact Zable

If you're not an existing customer, you can call 1-844-779-2253 or email [email protected], Monday to Friday, 9 a.m. to 5:30 p.m. ET.

Existing Zable customers can call 1-254-272-6442 or email [email protected]. Business hours are Monday to Friday, 8 a.m. to 9 p.m. ET.

If you'd like to submit a message through the company's online form, navigate to the Contact page and click on the blue conversation bubble in the bottom right-hand corner.

How Zable compares

Zable's personal loan offering is similar to what you'll find from many U.S. lenders that cater to borrowers with fair to good credit (a FICO score ranging from 580 to 739). However, Zable does stand out due to a low minimum loan amount of $1,000 and same-business-day funding.

Best Egg, for example, offers personal loans from $2,000 to $50,000 with APRs up to 35.99%, origination fees up to 9.99%, and funding within one to three business days. Avant offers loans from $2,000 to $35,000 with APRs up to 35.99%, admin fees up to 9.99%, and next-business-day funding. Note that most Avant customers have credit scores between 600 and 700, but you may be able to qualify with a score as low as 580.

Methodology

Credible evaluated personal loan lenders based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, and fees. Credible's team of experts gathered information from each lender's website, customer service department, in-house resources, and via email support. Each data point was verified to make sure it was accurate at the time of publication.

Learn more about how Credible rates lenders by exploring our Personal Loans Lender Rating Methodology.

FAQ

Is Zable a reputable company?

While Zable is newer to the U.S., the company has extended loans to hundreds of thousands of borrowers in the U.K. It also partners with well-established U.S. banks, Cross River and New Horizon. However, the company's website is missing key information, such as APR and origination fee ranges.

Is it difficult to get a Zable personal loan?

Zable doesn't share minimum eligibility requirements on its website, but to qualify for a loan with them through Credible, you must meet the following:

• Minimum credit score of 600
• Minimum monthly income of $1,000
• Not reside in the following states: CO, CT, IA, IN, KS, LA, ME, ND, NE, NH, NJ, NV, OK, OR, PA, RI, SC, SD, VT, WV, WI, WY

Does Zable approve instantly?

Yes. You can find out if you prequalify within minutes and have the funds in your account as soon as the same business day.

Does a Zable loan hurt your credit?

A Zable loan can help or hurt your credit. When you first apply and take out the loan, you may see a dip in your credit score. However, if you make all of your payments on time, the loan can eventually work to strengthen your credit report and score.