Jenius Bank Personal Loan Review
NMLS#1136
Read Jenius Bank loans come with good rates, fast funding and no fees. Here’s what you need to know about getting a loan with Jenius.
- No fees: Jenius Bank doesn’t charge fees of any kind — an unusual (and budget-friendly) perk. Lenders commonly charge mandatory upfront origination fees and late fees for missed payments, which can make your loan more expensive.
- Fast funding: Jenius will send you your money as soon as the next business day. Though a handful of lenders offer faster loan funding than Jenius, its loans are still on the fast end of the spectrum. Getting your loan money can take up to five business days with other lenders.
- Solid rates: You’ll find lower starting rates with some of the best personal loan lenders, but Jenius’ starting rates are only a few percentage points higher than the lowest rates on the market. Plus, its maximum interest rates are competitive, especially compared to the nearly 36% maximums that many lenders charge. This means you could get competitive rates with Jenius, even if you just barely qualify.
- Rate discount: Jenius shaves 0.25% off your interest rate when you sign up for autopay, which will save you money over the course of your loan.
- Can’t apply on Jenius Bank website: As of publication, you can’t apply for a loan directly with Jenius. You’ll need to complete a form on LendingTree or Intuit Credit Karma, and while you’ll get offers if you qualify, they won’t necessarily be from Jenius.
- Best for borrowers with good credit who want to avoid fees: If you have good credit and want to skip common loan fees, it’s worth your time to use the LendingTree marketplace to see if you qualify for a Jenius loan.
Jenius Bank pros and cons
Jenius Bank loans come with perks like no fees and quick funding, but its loans aren’t available to everyone. Here’s what you need to know.
| Pros | Cons |
|---|---|
| No fees Next-day funding possible 0.25% rate discount for using autopay Check rates without impacting credit | Can’t apply with another person Need good credit to qualify Borrowers with excellent credit can likely get lower rates with another lender |
Jenius stands out in the personal loan marketplace by not charging any fees. There are several lenders that don’t charge origination fees, but it’s rare for lenders to skip fees altogether. Many charge late fees or administrative fees. Of Jenius’ competitors, LightStream is one of the only other lenders that is truly fee-free.
However, Jenius loans are best for good-credit borrowers who can take advantage of their solid rates and lack of fees. You won’t qualify for a Jenius loan with fair or bad credit, and if you have excellent credit, you can find lower starting rates with other lenders.
Jenius Bank requirements
Outside of a minimum credit score of 680, Jenius Bank doesn’t specify its personal loan requirements.
When deciding whether to offer you a loan, lenders typically consider your credit history — how long you’ve had credit and whether you usually make payments on time — along with your credit score and debt-to-income ratio.
If you meet the basic credit score requirements listed above, you may need to disclose how you plan to use your personal loan. While Jenius Bank does allow borrowers to use its funding for a variety of purposes, there are certain expenses you cannot put the money toward.
| Jenius Bank loans CAN be used for… | Jenius Bank loans CANNOT be used for… |
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If Jenius Bank’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with Jenius Bank
- Check your rates. The first step to getting a loan with Jenius is to check your rates using the LendingTree marketplace. You’ll answer a few questions about yourself and the money you need. If you qualify, we’ll send you offers from up to five lenders, which may include Jenius. Note that, unlike other lenders, Jenius doesn’t allow you to apply directly on its website.
- Submit your application. If you like what you see, you’ll need to submit additional information to Jenius in a formal application. Jenius will pull your credit to check your credit history and send you your final loan offer if you qualify.
- Get your money. After you approve your offer and sign your loan agreement, Jenius will send you your money as soon as the next business day.
How Jenius Bank compares to other personal loan companies
Even if you believe Jenius Bank aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Jenius stacks up against similar personal loan lenders.
| Lender | Jenius Bank | Prosper | Discover |
|---|---|---|---|
| LendingTree’s rating | 3.9/5 | 4.7/5 | 4.0/5 |
| Minimum credit score | 680 | 560 | 720 |
| APRs | 9.49% to 23.49% (with autopay) | 8.99% to 35.99% | 7.99% - 24.99% |
| Loan amount | $5,000 - $50,000 | $2,000 - $50,000 | $2,500 - $40,000 |
| Repayment terms | 36 to 72 months | 24 to 60 months | 36 to 84 months |
| Origination fee | None | 1.00% - 9.99% | None |
| Funding timeline | Get money as soon as the next business day | Get money as soon as the next business day | May receive funds as soon as the next business day |
| Bottom line | Jenius stands out from similar lenders by not charging any origination or late fees. However, its starting rates are on the high end and you’ll need good credit to qualify. | Prosper offers loans for bad credit and has competitive starting rates for borrowers with strong credit. You will need to pay upfront origination fees, though, and you can only stretch your payments out across 60 months. | If you're looking for a loan with longer repayment terms and repayment assistance options, Discover may be a good fit. However, you'll need at least a good credit score to qualify. |
How we rated Jenius Bank
To come up with our star rating for personal loan companies, LendingTree considered 22 data points across three categories:
- Accessibility: We paid attention to whether lenders offered loans to nontraditional borrowers, as well as those without excellent credit scores. We also checked if lenders offered soft credit pulls and whether they were transparent about eligibility criteria other than credit scores.
- Rates and terms: We wanted to know if lender rates, terms, amounts and fees were not only transparent, but competitive.
- Repayment experience: We based this category on lenders’ reputations, customer support availability and unique benefits.
The data points reflect every step of the process to shop and apply for, borrow and repay personal loans. A five-star lender, for instance, has flexible eligibility requirements, offers you the chance to prequalify without commitment and supports you in zeroing your balance.
The 22 data points, culled from the lenders themselves, determine the overall rating. We score lenders consistently, sometimes awarding partial points, so that you can make apples-to-apples comparisons when shopping around.
LendingTree isn’t paid for conducting these reviews, and lenders don’t have control over their content. With our reviews and ratings, we aim to give our users the objective and exhaustive information they need to make the best possible decisions.
Frequently asked questions
Jenius Bank doesn’t charge fees of any kind, including origination fees.
There is no one best bank for personal loans. The best bank loan for you is the one that’ll give you the lowest rates with affordable monthly payments — the only way to know which bank will give you the best rates is to shop around for a bank loan.
You should also consider credit union loans. Like banks, credit unions tend to charge fewer fees, and federal credit unions cap their rates at 18.00% by law — half of the almost 36% max that many other lenders charge.
Jenius is a legitimate lender. As of publication, Jenius Bank reviews from LendingTree users are overwhelmingly positive, with 100% recommending the lender.