Banks that offer personal loans with no credit check typically require you be a checking account customer before applying for a loan. But that's not a bad thing.
Having a banking relationship can make it easier to access credit products in addition to personal loans, like mortgage and auto loans and even credit cards.
Banks are more likely to extend credit to customers they have an established relationship with even when your credit needs improvement.
Personal loans with no credit check
Check out these banks for bad credit loans to see if it's worth becoming a customer to apply
OneUnited Bank
The CashPlease® Loan is a short term loan no credit check bank loan that can be deposited in your checking account within 4 hours after approval. Rather than borrow money from a payday lender, OneUnited Bank customers can borrow the funds needed directly from the bank.
OneUnited is a friendly bank for bad credit loans with the CashPlease® loan program being one of several of the bank's products designed for people with less than perfect credit.
- No credit check – You can apply immediately after you open a OneUnited Bank Checking Account
- Borrow $200 to $1,000
- Easy online access and management
- Repayment option to automatically deduct from your checking account with 3 installments over 3 months or you may make your payment online through online or mobile banking
Loan Requirements: To be eligible for a CashPlease® loan you must having a OneUnited Checking account in good standing. The online application process is easy and can be done at any time, 24 x 7.
Branch Locations: California, Florida and Massachusetts
Eligibility: OneUnited Bank is the first Black owned digital bank in America available to U.S. citizens who are 18 years of age and older.
Albert Banking App
The Albert banking app lets you get a cash advances against your next paycheck as long as your paychecks are automatically deposited into an Albert account.
- No credit check
- Borrow $250
- Repay the loan when your next paycheck is deposited at 0% interest
- Must have direct deposit
Loan Requirements: To be eligible for a cash advance you must have a direct deposit in the Albert banking app. There’s no credit check, no interest requirement, and no late fees but the cash advance must be repaid on your next direct deposit
Branch Locations: None
Eligibility: Membership is open if you are a U.S. resident or citizen, at least 18 years old and hold a bank account with a U.S. financial institutions.
Credit Human FCU
The QMoney short-term loan is a valuable member benefit and a smarter alternative to payday loans and other high-cost options.
- No credit check
- Borrow $200 to $500
- 60 days to repay
- Fast and convenient
Loan Requirements: To be eligible for a QMoney loan you must be the primary account holder, have an open deposit account for 30 days or more, and be at least 18 years of age. You must not have any overdrawn accounts, loans past due or charged off loans including credit cards.
Branch Locations: Louisiana and Texas
Eligibility: Membership is open if you join the American Consumer Council (ACC) and live in the United States. Credit Human will handle everything, including your fee to join.
Andrews FCU
The Cash To Go Loan when you need extra cash to make your family happy or to make ends meet.
- No credit check
- Borrow $250 to $500
- First full payment must be received within 30 days
- Must have a direct deposit/allotment for 2 months from the same employer
Loan Requirements: To be eligible you must be an Andrews Federal Credit Union member for at least 90 days, have a direct deposit/allotment for 2 months from the same employer, and the loan amount cannot exceed 75% of member’s monthly direct deposit/allotment.
Branch Locations: District of Columbia, Maryland, New Jersey, Virginia
Eligibility: Membership open if you join the American Consumer Council (ACC) and live in the United States. Visit the American Consumer Council website to start your ACC membership. Use the code ANDREWS to receive ACC membership for free.
Securityplus FCU
The Quick Cash loan for an unexpected expense, when you need extra cash or are short of funds between paydays.
- No credit check
- Borrow up to $500; if you've successfully paid off a Quick Cash Loan in the past, you can borrow up to $1,000
- 6-month term
- $20.00 non-refundable fee, per application
- All loans will have an Annual Percentage Rate of 28.00%
Loan Requirements: To be eligible for a Quick Cash loan you must be a member of Securityplus for at least six (6) months, must have a minimum two (2) years of employment history to qualify for the program and must be employed with their current employer for a minimum of 180 days prior to the loan application, and must be a member in good standing at the time of application.
Branch Locations: Maryland
Eligibility: Membership open if you join the American Consumer Council (ACC) and live in the United States.
Digital Federal Credit Union
The Quick Loan is for people with less-than-perfect credit or who need help recovering from a financial emergency. You can apply for up to $1,000 with no credit check.
- No credit check
- $1000 or $2,000
- 10% interest
- Build or improve your credit score – by making on-time payments
- No prepayment penalties – you can repay your loan at any time with absolutely no prepayment penalty or fee
Loan Requirements: To be eligible for a Quick Loan a DCU Membership must be established for at least 90 days for a loan amount of $200 to $1000 and 180 days for loan amounts of up to $2,000. Additionally, a member cannot have more than one Quick Loan open at the same time and can have no more than 3 Quick Loans in a 180-day period. Other conditions may apply.
Branch Locations: Massachusetts and New Hampshire
Eligibility: Membership is open through a list of eligible organizations, employers and communities on DCU's website.
Unify Financial Credit Union
Apply for the Short-Term Loan when you need to cover an emergency, unexpected expenses or bills.
- No credit check
- $300, $400 or $500
- 0% interest
- Repaid in 6 weekly payments, starting 30 days after funding
- $20, non-refundable application fee
Loan Requirements: To be eligible for a Short-Term Loan you must be a UNIFY member in good standing for at least 90 days and have verifiable income. There may be fees and charges associated with select Short-Term Loan products. Certain terms, conditions, and restrictions apply. See your loan agreement for full terms and disclosures.
Branch Locations: California
Eligibility: Membership is eligible to U.S. citizen or permanent U.S. resident who is 18 years of age or older.
How Do Personal Loans Work?
Personal loans require that you fill out an application that specifies the amount you need a loan and may ask what the money will be used for. If you’re approved you’re free to use the money for almost anything.
Personal loans are generally repaid on a set schedule every month, at the same amount every time. You can also repay a personal loan in full prior to the due date with no pre-payment penalty.
How Will A Personal Loan Affect My Credit Score?
A personal loan will be listed on your credit report as an unsecured closed-end loan. This type of loan can help or hurt your credit score depending on your repayment habits.
Here is how personal loans can help to improve your credit score:
- The way credit scores work involves several factors. Personal loans contribute to a better credit mix by having a variety of different types of credit helps. If most of your credit is revolving credit, such as credit cards, a personal loan can enhance your credit mix and that's including credit builder loans too.
- Help you build a positive payment history by making your payments on time. When loan payments are paid on time, your credit score can increase over time.
Here is how personal loans can hurt your credit score:
- Taking out a new personal loan means taking on more debt. If you are unable to make monthly payments on time the bank may report that payment history to the credit bureaus. One late payment can tank a credit score by as much as 100 points.
