Yes, Chase Bank offers personal loans through its Chase Personal Loan product
Chase Personal Loan is a fixed-rate, unsecured loan available to Chase customers and non-customers alike. The loan amount ranges from $3,000 to $35,000, and you repay it over a set term with the same payment each month. Chase advertises this product directly on its website and through its branches, and you can request one online, by phone, or in person.
The key difference between a Chase personal loan and other Chase credit products is that you receive the money as a lump sum upfront, not as a line of credit you draw from over time. You then repay that sum in fixed monthly installments, typically over 24 to 84 months depending on the loan amount and your agreement with Chase.
Key Takeaways
- Chase Personal Loans range from $3,000 to $35,000 and carry a fixed interest rate, meaning your monthly payment stays the same for the entire loan term.
- You do not need to be a Chase customer to request a personal loan, though Chase customers may see different rates or terms.
- Chase will check your credit report and income before deciding whether to lend to you and at what rate.
- The interest rate you receive depends on your credit score, income, and other financial factors — Chase does not publish a single rate for all borrowers.
- You can request a personal loan online, by phone at 1-800-935-9935, or at a Chase branch in person.
What Chase looks at before approving a personal loan
Chase uses your credit score, income, and existing debt to decide whether to lend to you. The bank pulls your credit report from one or more of the three major credit bureaus (Equifax, Experian, TransUnion) and reviews your payment history, how much credit you are currently using, and how long you have had credit accounts open.
Chase also verifies your income, usually through recent pay stubs or tax returns. If you are self-employed or have irregular income, you may need to provide additional documentation. The bank wants to see that you earn enough to make the monthly payment without hardship.
Existing debt matters because Chase calculates your debt-to-income ratio — the percentage of your monthly income that goes toward debt payments. A higher ratio signals higher risk to the lender. If you already carry significant credit card balances, car loans, or other obligations, Chase may deny your request or offer a smaller loan amount at a higher rate.
Interest rates and fees Chase charges
Chase does not publish a single interest rate for personal loans. Instead, the rate you receive depends on your credit profile. Borrowers with excellent credit (typically 740 or higher) receive lower rates than those with fair or good credit. The rate is fixed, meaning it does not change over the life of the loan.
Chase charges an origination fee on most personal loans, which is a percentage of the loan amount deducted upfront or added to the total you owe. This fee typically ranges from 1% to 6% of the loan amount, though the exact percentage depends on your creditworthiness and the loan term you choose. Chase does not charge a prepayment penalty if you pay off the loan early.
There is no annual fee for holding a Chase Personal Loan. If you miss a payment, Chase charges a late fee, which appears on your account statement and in your loan documents.
How to request a Chase personal loan
You can start the process online through Chase's website by navigating to the Personal Loans section and entering basic information about the loan amount you need and your income. Chase will show you an estimated rate and monthly payment based on a soft credit inquiry, which does not affect your credit score.
If you want to move forward, you complete a full application. At this point, Chase performs a hard credit inquiry, which does show up on your credit report and may lower your score slightly. Chase then reviews your income documentation and makes a lending decision, usually within a few business days.
You can also call Chase at 1-800-935-9935 to discuss personal loans with a representative, or visit a Chase branch in person. A branch representative can walk you through the application and answer questions about rates and terms specific to your situation.
What happens if Chase denies your request
If Chase denies your personal loan request, the bank is required by law to send you a written notice explaining the main reason for the denial. Common reasons include a credit score that is too low, insufficient income, or a debt-to-income ratio that is too high.
A denial from Chase does not mean you cannot borrow money elsewhere. Other banks and credit unions may have different lending standards. You can also work on improving your credit score before reapplying — paying down existing debt, correcting errors on your credit report, or making all payments on time for several months can raise your score over time.
If you are a Chase customer and were denied, ask a branch representative whether you might be a candidate for a different product, such as a credit card with a lower credit requirement or a line of credit secured by your savings account.
Chase personal loans versus other Chase credit products
Chase offers several ways to borrow money, and the right choice depends on what you need the money for and how you prefer to access it. A Chase credit card gives you a line of credit you can draw from repeatedly, but you pay interest only on the balance you carry. A personal loan gives you a fixed amount upfront and a set repayment schedule.
A Chase home equity line of credit (HELOC) or home equity loan is available only if you own a home and have built equity in it. These products typically carry lower interest rates than personal loans because your home secures the debt, but they put your home at risk if you cannot pay.
A Chase auto loan is designed specifically for buying a car and is secured by the vehicle itself. Because the bank can repossess the car if you stop paying, auto loans usually carry lower rates than unsecured personal loans.
How long it takes to receive the money
After Chase approves your personal loan, the bank typically deposits the funds into your account within one to three business days. If you applied in person at a branch, the timeline may be faster. Some borrowers receive funds the same day they sign the loan agreement, though this is not may provide.
Once you have the money, you can use it for any purpose — paying off credit card debt, covering medical expenses, home repairs, or other needs. There is no restriction on how you spend a personal loan, unlike some other lending products.
Frequently Asked Questions
Do I have to be a Chase customer to get a personal loan?
No. Chase offers personal loans to both existing customers and people who do not bank with Chase. However, existing Chase customers may see different rates or terms, and the application process may be slightly faster if Chase already has your financial information on file.
What credit score do I need for a Chase personal loan?
Chase does not publish a minimum credit score, but the bank typically lends to borrowers with a score of 600 or higher. Borrowers with scores below 600 are unlikely to be approved. The higher your score, the lower the interest rate you will receive.
Can I use a Chase personal loan to pay off credit card debt?
Yes. Many people use personal loans to consolidate high-interest credit card balances into a single fixed payment. Because personal loan rates are often lower than credit card rates, this can save you money on interest over time.
What if I want to pay off my Chase personal loan early?
Chase does not charge a prepayment penalty, so you can pay off the loan in full at any time without extra fees. Paying early reduces the total interest you owe over the life of the loan.
How does a Chase personal loan affect my credit score?
The hard credit inquiry Chase performs lowers your score by a few points temporarily. Once you receive the loan, your score may dip further because you now carry more debt. Over time, making on-time payments on the personal loan can help rebuild your score.