Springleaf Personal Loans
Online Applications for personal loans through Springleaf Financial Services can be a way to pay off debt, buy an appliance or go on a vacation. They offer personal loans from $1500 – $10,000 for terms from 12 months up to 5 years.
This long standing company was founded as Interstate Finance Corporation in Evansville, Indiana. They opened the 1st branch in Washington, Indiana which was interesting to me as I had relatives living in that very small city in Indiana when I was growing up. In 2011 they changed their name to Springleaf Financial Services and in 2013 were listed on the NYSE under the symbol “LEAF”.
The company is considered very trustworthy with a A+ rating with the BBB and has been accredited with the organization since 1985.
They do report payment history to the 3 credit bureaus so if you are wanting to improve your credit score this could help you if that is one of your goals.
How Do I Apply For Springleaf Personal Loans?
It is a fairly simple process to apply for a personal loan through Springleaf financial.
You will start by filling out an online application with your personal information. Just fill out all the fields and be specific as possible. This is an easy application form so it only takes minutes to completely fill it out and submit.
Once you are approved you will sign your loan documents accepting the rate an payment terms.
You can then receive your personal loan funds from a local branch.
Is There a SpringLeaf Loan Calculator?
Yes, actually they have a number of really nice financial planning and educational tools.
To get to the loan calculator to figure out your payment, just go to www.springleaf.com/learn/calculator.
Here is an example below that I did for you to see how it works. You can just pull the tabs to the amounts you want and it will calculate your amount real time.
I used a loan amount of $3000 say for a new furniture set I would like to purchase. The interest rate was at 16 percent and I made it for a loan term of 3 years. It calculates my payment to be around $105.47. Not to bad and if you have average or poor credit this might be an option for you. The interest rate is a bit high and if you have good or excellent credit you may want to shop around on our site for a peer to peer lender that might offer a lower rate for a personal loan such as Lending Club, CircleBackLending or Prosper Personal Loans.
They also have a thing called MoneySkill that is a money management course where you can learn about credit, expense management, and budgeting.
Another kind of cool feature on their site was something called Springleaf TV. This has short videos explaining topics like budgets, financial goals and credit scores or discussing the credit systems.
They also offer auto loans over the site, but today this article is just focused on the Springleaf personal loans aspect for borrowers.