Kashable Refinance Loans: How Does It Work?

Kashable is an online lender that offers loans to employees to help them handle unexpected expenses and tackle high-interest debt. Kashable offers refinancing options to its borrowers, but there are certain criteria that must be met to be eligible for refinancing. This includes having a current loan in good standing, having a term longer than 6 months with an original principal loan amount of over $750, and having paid at least 50% of the principal loan balance. While Kashable does offer refinancing, there have been some negative reviews from customers who have faced issues with the process.

Kashable refinance eligibility requirements

Kashable is an online lender that offers personal loans with competitive interest rates. However, Kashable isn't available everywhere, and you must work for a qualifying employer to apply. The company provides loans ranging from $250 to $20,000 with loan terms from 6 to 24 months and APRs from 6% to 35.99%. To qualify for the lowest rate, applicants must have a responsible financial history.

Kashable does offer refinancing options for borrowers. To be eligible to apply for refinancing, the original loan must have a term longer than 6 months with an original principal loan amount of more than $750. Additionally, at least 50% of the principal loan balance should be paid, and the loan should be halfway through its term and less than 30 days late.

It is important to note that Kashable only offers loans through select employers, so it is not available to the general public. The company uses a combination of employment and credit data to determine approval, terms, and loan amounts. Applicants can check their potential rate and terms through Kashable's prequalification application, which does not affect credit scores. However, if an applicant proceeds with the loan application, Kashable will conduct a hard inquiry that may slightly lower credit scores.

Kashable is not available to active military personnel and their dependents. Applicants must also have a personal checking account in their name, open for at least 90 days and in good standing. Loan funds are received through direct deposit into this account.

Kashable's loan repayment process

Kashable is an online lender that offers personal loans with competitive interest rates to qualifying employees or federal employees. The Kashable loan repayment process involves deductions directly from the borrower's paycheck. While this automated repayment method ensures timely payments, it limits flexibility regarding the timing of payments.

The Kashable loan amounts range from $250 to $20,000, with loan terms from 6 to 24 months and APRs starting at 6%. The platform provides a prequalification application that allows individuals to check their potential rate and terms without impacting their credit scores. However, upon submitting a formal application, Kashable performs a hard credit inquiry, which may slightly lower credit scores.

Borrowers can apply for Kashable loans online, and if approved, the loan funds are typically deposited into their bank account within one to three business days. The repayment process for Kashable loans is straightforward, with repayments automatically deducted from wages through payroll deductions. This repayment method ensures timely payments but may reduce flexibility in payment timing.

It is important to note that Kashable reports repayment history to consumer credit bureaus. Making full and timely payments can help build credit scores, while late or missed payments can negatively impact them. Additionally, Kashable offers refinancing options for eligible borrowers who meet specific loan term, balance, and payment history requirements.

Kashable's loan application process

Kashable is an online lender that offers personal loans with competitive interest rates to employees through their employers. Kashable is not available to the general public and is only offered to employees of select employers.

Kashable loan amounts range from $250 to $20,000 with loan terms from 6 to 24 months. The APR for Kashable loans ranges from 6% to 35.99%. To qualify for the lowest rate, the applicant must have a responsible financial history.

The first step in the Kashable loan application process is to check if you qualify based on your employer. Kashable offers a prequalification application that will not hurt your credit scores. However, if you decide to apply, Kashable will check your credit with a hard inquiry, which will slightly lower your scores.

To apply for a Kashable loan, you must have a checking account in your name that has been opened for at least 90 days in good standing. Kashable does not fund loans into a savings account or prepaid card. The loan application process can be completed online in a matter of minutes.

Kashable reports repayment history to consumer credit bureaus, so making payments on your loan on time and in full may help you build your credit. However, if you don't make timely payments or don't pay your full monthly payment, your credit scores could drop.

Kashable's loan availability

Kashable is an online lender that offers personal loans with competitive interest rates. Kashable loans are available to federal government employees and employees of partner companies. The Kashable Program for federal employees is available in all 50 states, the District of Columbia, and Puerto Rico, except West Virginia.

Kashable loan amounts range from $250 to $20,000 with loan terms from 6 to 24 months. The APR for Kashable loans ranges from 6% to 35.99%. To qualify for the lowest rate, applicants must have a responsible financial history. Kashable considers applicants from a wide range of credit scores and income levels to promote financial inclusion.

Kashable is not available to the general public and is only offered through select employers. To qualify for a Kashable loan, you must work for a partner employer or be a federal employee and live in a participating state. Kashable is not available in every state, and you must work at a qualifying employer to apply. Kashable loans are also not available to active military personnel and their dependents.

Kashable offers refinancing options for borrowers. To be eligible to apply for refinancing, the loan must have a term longer than 6 months with an original principal loan amount of more than $750, and at least 50% of the principal loan balance must be paid. The loan must also be halfway through the term and less than 30 days late.

Kashable's loan amounts and terms

Kashable is an online lender that offers personal loans with competitive interest rates. Kashable loans are not available to the general public and are only available through select employers. Kashable's loan amounts range from $250 to $20,000, with loan terms from 6 to 24 months. The APR for Kashable loans ranges from 6% to 35.99%. To qualify for the lowest rate, the applicant must have a responsible financial history.

For example, a 12-month $3,500 loan with a finance charge of $265.74 and a 14.89% APR has 26 bi-weekly instalments of $140.49 each. An 18-month $4,000 loan with a finance charge of $655.25 and a 21.20% APR has 39 bi-weekly instalments of $114.75 each.

Kashable offers a benefit program to employers, providing their employees with disciplined credit at low rates. Benefits-eligible employees can take a Kashable loan online in a matter of minutes and repay it through payroll deductions over several months. Kashable also provides employees with access to free Financial Literacy resources to help plan for the future.

It is important to note that Kashable is not available in every state, and rates for people without strong credit can be relatively high. Kashable uses a combination of employment and credit data to determine approval, terms, and loan amounts.

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