If you’ve recently received a direct mail piece from Personify Financial, informing you that you’re pre-qualified for a loan, you might be wondering whether this offer is legitimate or a scam. With so many financial assistance and personal loan options available, it’s crucial to research any company before deciding to work with them. In this article, we’ll take an in-depth look at Personify Financial, exploring what they have to offer and determining whether they are a trustworthy option for your financial needs.

Personify Financial Summary
Personify Financial is a legitimate personal loan company that offers financial personal loans ranging from $500 to $15,000. These loans come with both fixed and variable interest rates, and borrowers can choose a repayment term ranging from 12 to 48 months. Applications are submitted exclusively through their website, and borrowers typically receive a decision within 24 hours. If approved for a loan, the funds are deposited into the borrower’s bank account within 48 hours.
Key Aspects of Personify Financial

Based in San Diego, California, Personify Financial advertises its services through online ads and attracts customers with direct mail offers. The loan amounts offered by Personify Financial range from $500 to $15,000, depending on the borrower’s state and creditworthiness. Their installment loans are funded either by themselves or by First Electronic Bank, a Utah-chartered industrial bank.
The fund’s transfer process takes up to 2 business days to deposit the money into the borrower’s checking account. Interest rates offered by Personify Financial vary from 19% to 199.99%, depending on the borrower’s credit score. They also provide an option to reduce the interest rate by 2% every six months for borrowers who make on-time payments. Additionally, Personify Financial charges late fees and NSF fees if a borrower fails to meet their payment obligations, and origination fees may apply depending on the borrower’s state.
What is Personify Financial?
Personify Financial is an online personal loan company that provides unsecured personal loans, meaning they do not require collateral and are primarily based on the borrower’s creditworthiness. These loans are typically approved and funded within two business days. Personify Financial has been in business for over seven years and is headquartered in San Diego, California. They are accredited by the Better Business Bureau (BBB) and hold an A+ rating. As of September 2022, they have an average customer rating of 4.8 out of 5 stars based on 1,099 customer reviews, indicating a positive overall customer experience.
How does Personify Financial work?
Personify Financial operates as an online platform, accepting loan applications through its website. Once an application is submitted, the borrower is matched with one of their two loan programs. Installment loans are funded either by First Electronic Bank or by Personify Financial, depending on the borrower’s state of residency and program parameters. The approval process takes into account factors beyond just credit scores and credit history, including the borrower’s ability to pay, work history, and income stability.
Personify Financial Reviews
Personify Financial has been accredited by the Better Business Bureau (BBB) since August 2015, six months after starting their business. With an A+ rating, they have resolved 127 complaints in the last three years and 54 complaints in the last 12 months. As of September 2022, they have accumulated 1,099 customer reviews, with an average rating of 4.8 out of 5 stars. These positive reviews indicate a high level of customer satisfaction and provide valuable insights into the company’s reputation and customer experience.

Personify Financial FAQs
How do I qualify for Personify Financial?
To qualify for a Personify Financial personal loan, you’ll need to meet certain criteria. While they consider credit scores, they also take into account factors such as your financial situation, work history, and income stability. Providing financial documents, such as personal and corporate financial statements, as well as recent pay stubs, and minimum credit score, is usually required to assess your finances and determine the loan amount you’re eligible for. Additionally, having a valid checking account is necessary, as it deposits loan funds directly into the borrower’s account upon approval.
Why do they require me to log into my online banking?
It requests access to your online banking credentials to verify your income and other financial information. This step helps ensure that the loan funds are directed to the right place and protects against identity theft and fraud. They utilize a third-party service to securely handle your login details, keeping your personal information confidential.
How do I pay back Personify Financial?
It offers multiple payment methods for borrowers to repay their loans. You can choose to pay by mail, through an ACH transfer, or via their online portal. When paying by check, it’s crucial to ensure timely delivery to avoid late fees. ACH transfers allow for automatic payment directly from your checking account on the due date. The online portal provides the option for one-time payments using a credit card or banking information.
What happens if I don’t pay Personify Financial?
Failing to make payments can have negative consequences. They may report non-payment to credit bureaus, resulting in a negative impact on your credit score and making it more difficult to obtain future loans. Additionally, you may be subject to late fees and penalties imposed by the company. If you’re experiencing difficulties making payments, it’s essential to contact them to discuss your options and potentially find a solution.
Are there any pre-payment penalties?
It does not impose any fees or penalties for repaying your loan early. Whether the loan is funded by them or First Electronic Bank, borrowers are not charged for paying off their loan ahead of schedule.
What other fees do they charge?
Apart from the 5% origination fee charged by First Electronic Bank, Personify imposes late fees and NSF fees. The specific amounts for these fees are not disclosed, so it’s essential to review the terms and conditions of your loan to understand the potential costs.
How does Personify Financial affect my credit?
Personify Financial’s application process does not have an immediate impact on your credit score. However, once approved for a loan, they conduct a full credit check or hard credit inquiry, which will be reflected as an inquiry on your credit report. Late payments can also be reported to credit bureaus and negatively affect your credit score for up to seven years. Therefore, it’s important to ensure timely payments to maintain a good credit history.
How to cancel Personify Financial?
To cancel your Personify Financial loan, you must first pay off the outstanding balance. Afterward, contact a representative who will guide you through the cancellation process. Once your outstanding balance has been paid and the loan canceled, you will receive confirmation from Personify Financial.

Conclusion
After conducting thorough research, it is evident that Personify Financial is a legitimate online personal loan company with a solid reputation. With an A+ rating from the Better Business Bureau (BBB) and positive customer reviews, they have established trust among their customers. However, it’s crucial to carefully review the rates, terms, and conditions of any loan before signing a contract.
While Personify Financial provides financial assistance to individuals who may be experiencing financial hardship, it’s important to consider the interest rates and fees associated with their loans. By making informed decisions and ensuring timely payments, borrowers can navigate their financial obligations responsibly while potentially benefiting from Personify Financial’s services.
Personify Financial
Personify Financial Review
After conducting thorough research, it is evident that Personify Financial is a legitimate online personal loan company with a solid reputation. With an A+ rating from the Better Business Bureau (BBB) and positive customer reviews, they have established trust among their customers. However, it’s crucial to carefully review the rates, terms, and conditions of any loan before signing a contract.