There are a few ways you can apply for a personal loan. Most people visit their local bank or credit union for a consultation and apply for one of a personal loans program in person. Others choose to go with an online lender and apply quickly online through the lender’s website.
Where and how you apply for a personal loan will depend on your loan needs. If you need to be approved right away, going to a physical location like a bank might be faster.
If you don’t have time to go to a physical location or the loans from banks do not offer what you need, you can apply online and not worry about your application for a few days while you wait to hear back from your chosen lender.
At the end of the day, the application method will really depend on your individual needs.
What You’ll Need
When applying for a personal loan, you will need to have the following documents on hand:
- Loan application (Any paperwork required by your lender)
- Proof of identity (Driver’s License, Passport, etc.)
- Proof of address (Bills, lease agreement, credit statement, etc.)
- Proof of income (Paystub, W-2 form, tax return, etc.)
All of this documentation can be filed in person or electronically depending on how your lender wants to process your application.