Chase does offer personal loans, but only to existing customers with established banking relationships
Chase Bank offers personal loans through its Chase Loan program, available to customers who already have a checking or savings account with the bank. You cannot walk in as a new customer and get approved for a Chase personal loan — the bank uses your existing account history, deposit patterns, and relationship with them as part of the decision. This is different from many online lenders and credit unions, which will consider applications from anyone who meets their basic requirements.
Chase personal loans range from $3,000 to $100,000, with repayment terms of 24 to 84 months. The interest rate you receive depends on your credit score, income, and how long you have banked with Chase. If you have a strong credit history and a long account history with the bank, you may may have access to for a lower rate. If you are newer to Chase or have a lower credit score, the rate will be higher.
The application process is straightforward if you are already a Chase customer: you can apply online through your Chase account, by phone, or in person at a branch. Chase typically gives you a decision within one business day, and if approved, funds arrive within two to three business days.
Key Takeaways
- Chase personal loans are only available to existing Chase bank customers, not to new applicants without an account.
- Loan amounts range from $3,000 to $100,000 with repayment terms between 24 and 84 months.
- Your existing relationship with Chase — including account age, deposit history, and credit score — affects the interest rate you receive.
- You can apply online, by phone, or in a branch, and Chase typically decides within one business day.
- If you do not have a Chase account, you will need to open one first or explore personal loans from other lenders.
Who qualifies for a Chase personal loan
To get a Chase personal loan, you must have an active Chase checking or savings account. Chase does not specify a minimum account age in its public materials, but the bank weighs your account history heavily — the longer you have banked with Chase and the more active your account, the better your chances of approval and the lower your rate is likely to be.
Chase also looks at your credit score, income, and debt-to-income ratio. The bank does not publish a minimum credit score requirement, but most customers who are approved have a score of 670 or higher. You will need to provide proof of income, such as recent pay stubs or tax returns, and Chase will verify your employment.
If you have a very new account with Chase or a thin credit history, you may not be approved, or you may be offered a higher rate. In that case, you might consider a credit union personal loan, an online lender, or waiting a few months to build more history with Chase before reapplying.
How Chase personal loan rates and terms work
Chase personal loans carry a fixed interest rate, meaning your rate stays the same for the entire life of the loan. The rate you receive depends on your creditworthiness and your relationship with Chase. The bank does not publish a rate range, but rates typically fall between 6% and 36% APR, depending on the factors above.
You choose your repayment term when you apply — anywhere from 24 to 84 months. A shorter term means higher monthly payments but less interest paid overall. A longer term spreads payments out but costs more in total interest. Chase provides a loan calculator on its website where you can enter a loan amount and term to see an estimated monthly payment and total interest cost.
Chase charges no origination fee, prepayment penalty, or late fees on personal loans. This means you can pay off the loan early without penalty, and you will not be charged extra fees upfront or if you miss a payment (though a missed payment will hurt your credit and may trigger a higher rate on future borrowing).
How to apply for a Chase personal loan
If you are a Chase customer, start by logging into your online banking account or the Chase mobile app. Look for the "Loans" or "Borrow" section and select "Personal Loan." You will answer questions about how much you want to borrow, what you need the money for, and your employment. Chase will pull your credit report and review your account history.
You can also call Chase at 1-800-935-9935 to apply by phone, or visit a local Chase branch in person. Phone and in-person applications follow the same process: you provide basic information, Chase reviews your account and credit, and you receive a decision within one business day.
If you are approved, you will receive a loan agreement to review and sign. Read the terms carefully, including the interest rate, monthly payment, and total amount you will repay. Once you sign, Chase deposits the funds into your account within two to three business days. You can then use the money for any purpose — debt consolidation, home repairs, medical bills, or anything else.
Chase personal loans versus other lenders
Chase personal loans work well if you already bank there and have a solid relationship with the bank. The main advantage is speed: you can apply and get funded in a few days, and Chase already knows your financial history. The main disadvantage is that you must be an existing customer.
If you do not have a Chase account, or if you want to compare rates, consider online lenders like LendingClub, Upstart, or SoFi. These lenders will consider applications from anyone who meets their requirements, regardless of banking history. Online lenders typically decide within one to three business days and fund within five to seven business days. Interest rates vary widely based on credit score, so it is worth getting quotes from multiple lenders before deciding.
Credit unions often offer personal loans at lower rates than banks, especially if you are a member. If you belong to a credit union, check whether they offer personal loans before applying elsewhere. Credit unions typically have more flexible lending standards than banks and may approve you even if your credit score is lower.
What to do if you are denied a Chase personal loan
If Chase denies your application, the bank will send you a letter explaining the reason — usually credit score, income, or account history. You have the right to request a free copy of the credit report Chase used to make the decision.
If the reason is a low credit score, you can work on improving it before reapplying. Pay down existing debt, make all payments on time, and wait a few months. If the reason is account history, keep your Chase account active and in good standing for several months, then reapply.
If you need a loan now and cannot wait, explore other lenders. Online lenders, credit unions, and peer-to-peer lending platforms have different approval standards than Chase and may say yes even if Chase said no. Be aware that if you apply to multiple lenders in a short time, each application will pull your credit report, which can temporarily lower your score. Space out applications by at least a week or two if possible.
Frequently Asked Questions
Can I get a Chase personal loan if I just opened an account?
Chase does not publish a minimum account age, but the bank considers your account history as part of the decision. A brand-new account makes approval less likely. If you were just denied, try waiting a few months, keeping the account active, and reapplying. In the meantime, explore other lenders who do not require an existing banking relationship.
What is the fastest way to get a Chase personal loan?
Apply online through your Chase account — this is usually the fastest route. You can get a decision within one business day and funds within two to three days. Phone and in-person applications take the same amount of time, so online is not necessarily faster, but it is the most convenient if you are already logged into your account.
Can I use a Chase personal loan to pay off credit card debt?
Yes. Many people use personal loans for debt consolidation — borrowing a lump sum at a fixed rate to pay off multiple credit cards at once. This can lower your overall interest rate and simplify your payments. Just make sure you do not run up the credit cards again after paying them off, or you will end up with both the personal loan and new credit card debt.
Does Chase offer personal loans to non-customers?
No. You must have an active Chase checking or savings account to get a personal loan from Chase. If you do not have an account, you can open one, but approval for a loan will depend on your account history and creditworthiness. Other lenders, including online lenders and credit unions, will consider applications from anyone who meets their requirements.
What happens if I pay off my Chase personal loan early?
You can pay off the loan at any time without penalty. Chase does not charge a prepayment penalty, so you will save money on interest by paying early. There is no fee for doing so, and your credit score may benefit from paying off the debt ahead of schedule.