Personal loans are offered on Albert to customers who qualify to apply for a loan. Apply to see your loan amount, term, and repayment options in the app.
What is a personal loan?
A personal loan is a sum of money borrowed to pay for a variety of expenses, such as debt consolidation, home improvement projects, or other personal reasons. Many banks, credit unions, and lenders offer personal loans. The borrowed money must be repaid over time, typically with interest. Lenders may also charge additional fees.
Are the loans fixed interest rate or variable interest rate loans?
The loans are fixed interest rate loans. Your interest rate and monthly repayment amount is agreed to when you accept the loan and does not change for the full term of the loan.
Are the loans secured or unsecured?
The loans are unsecured, which means you are not required to provide collateral to get a loan. Common examples of collateral required with a secured loan include cash up front or secured with property such as a car.
Where can I receive my loan?
You have two choices on how to receive your loan proceeds.
Albert Cash
Select to deposit your loan proceeds instantly into Albert Cash for no additional fee.
External accounts
Optionally, you can select to transfer your proceeds to an external account linked to Albert for a fee. Transfers to externally linked accounts typically take less than a few minutes to complete. The fee is charged up front at the time of transfer.
Why was I denied?
If you're denied, we'll tell you why with a decline notice known as an "adverse action." This notice will include an overview of the reasons why you were declined
Instant Loans may be issued by FinWise Bank, a Utah chartered commercial bank, Member FDIC, or Albert, pursuant to licenses in Utah and Florida. For more information about the licenses Albert holds, see here.
Albert does not discriminate against any credit applicant on the basis of race, color, religion, national origin, marital status, age (providing the applicant is of legal age and has the capacity to enter into a binding legal contract), sex, disability, familial status, receipt of public assistance, or if the individual has exercised in good faith any right under the Consumer Credit Protection Act, or on any other prohibited basis.