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60 Month Loans: 2023 Personal Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

60Month Loan at a glance

19.57% to 69.73%
Loan Terms:
12 to 60 months
Loan Amounts:
$2,600 to $10,000
Origination Fee:
Up to 5% of the loan proceeds

A 60Month Loan personal loan is best for those who need to borrow four figures quickly and can pay it off before high APRs take their unwieldy effect. While the company does a soft credit check to quote those double-digit rates, it also relies on your cash flow to determine your eligibility — you’re required to provide your last three monthly bank statements upon applying.

Loans are available in 12 states — keep reading our 60 Month Loans review to determine if this product is right for you.

  • No early repayment penalties: 60 Month Loans doesn’t charge penalties for early repayment of your loan.
  • Origination fee applies: A loan fee of Up to 5% of the loan proceeds.
  • Soft credit inquiry: A soft credit inquiry will be used to check your eligibility, which won’t affect your credit score.
  • No cosigning options: 60 Month Loans doesn’t provide the option of applying for a loan with a cosigner.
Pros Cons
  No prepayment penalty: With no prepayment penalties, you can pay off your loan more quickly without having to worry about incurring additional fees.

  Fast delivery of funds: If approved, you could get your funds by the next business day, which is helpful if you’re in a bind.

  Better rates for high credit scores: You may be eligible for preferential rates depending on your financial and credit history.

  Origination fee: In some cases your origination fee may be as high as Up to 5% of the loan proceeds.

  No cosigners allowed: You won’t have the option to apply for a personal loan with a cosigner.

  High rates: For borrowers with excellent credit, 60 Month Loans’ APRs are much higher than competitors’.

  Not available nationally: Loans offered only in AL, CA, DE, GA, ID, IL, MO, NM, ND, SC, UT and WI.

60 Month Loans requirements

  • Minimum credit score: Not specified (lender does say it accepts “poor and fair credit”)
  • Minimum credit history: Not specified
  • Maximum debt-to-income ratio: Not specified

Lower APR rates are offered to customers with higher credit scores.

60 Month Loans reviews loan applications in the following states

  • Alabama
  • California
  • Delaware
  • Georgia
  • Idaho
  • Illinois
  • Missouri
  • New Mexico
  • North Dakota
  • South Carolina
  • Utah
  • Wisconsin

60 Month Loans fees

As mentioned above, 60 Month Loans charges Up to 5% of the loan proceeds as an origination fee, so you’ll want to find out about these costs in terms of your own loan before signing for it. On the other hand, there are no fees for early repayment of your loan.

Who’s the best fit for a 60 Month Loans personal loan?

60 Month Loans’ personal loan may be a good fit for borrowers who need fast access to funds. And while 60 Month Loans’ borrowing limits are restrictive compared to other lenders, it does have a healthy range of term lengths.

A big sticking point for this lender is its rates. If you have excellent credit, you’ll want to look elsewhere for a personal loan as competitors will have lower rates. 60 Month Loans’ origination fee (Up to 5% of the loan proceeds) may be high, too, depending on your circumstances.

However, if you have very high-interest debt and good enough credit, this lender may make sense, assuming you can qualify on the lower end of its rates. Unfortunately, if you’re facing credit card debt, you may find 60 Month Loans’ rates to not be your best choice for refinancing it.

What borrowers are saying in 60 Month Loan reviews

On LendingTree, 60 Month Loans has an overall rating of 4.4 out of 5 and a 87% recommendation rate. Borrowers have reported different experiences around customer service.

One satisfied borrower from Fultondale, Al., stated: “Very professional and fast service! I was pleasantly surprised with the terms. Closing was fast. Money in my account in two days!”

On the other hand, borrowers from Port Hueneme, Calif., and Ripon, Wis., gave the company one-star ratings, complaining about slow customer service relating to their application and repayment.

Applying for a personal loan from 60 Month Loans

To apply for a personal loan from 60 Month Loans, you’ll need to fill out an application online. The application will ask you to provide your employment and banking information and some supporting documentation, including your last three months of bank statements. A soft credit check may be conducted to determine your ability to pay off your loan.

Funds could be transferred directly into your bank account as soon as the next business day through an automated clearing house, minus any applicable origination fees.

Alternatives to 60 Month Loans

Whether this 60 Month Loan review makes the lender attractive to you or not, it’s wise to shop around with other companies to find the best overall product for your needs.

Comparing 60 Month Loans to competitors
60Month Loan Happy Money Discover*
APR: 19.57% to 69.73%

Loan length: 12 to 60 months

Loan amount: $2,600 to $10,000

Origination fee: Up to 5% of the loan proceeds

Min. credit score: Not specified

APR: 7.99% to 29.99%

Loan length: 24 to 60 months

Loan amount: $5,000 to $40,000

Origination fee: 0.00% - 5.00%

Min. credit score: 640+

APR: 6.99% to 24.99%

Loan length: 36 to 84 months

Loan amount: $2,500 to $35,000

Origination fee: No origination fee

Min. credit score: Not specified

Happy Money vs. 60 Month Loans

Happy Money (formerly Payoff) offers a wider range of terms, lower interest rates and fees, and higher loan amounts (up to $40,000) than many of its competitors. If you have an excellent credit score and several years of credit history, this financial services firm could be a viable alternative for you.

In addition, Happy Money also offers free services to help borrowers better manage money, including monthly FICO Score updates and available assessments meant to aid their relationship with money.

Discover vs. 60 Month Loans

Discover Personal Loans offers no-fee personal loans with longer repayment terms than most of its competitors — ideal for borrowers looking for flexibility. In most cases, you could receive approval the same day you apply and delivery of the funds by the next business day — plus, you also can choose to have the funds sent directly to your creditors. Loans are available in all states and customer service is also locally based.

The APR ranges from 6.99% to 24.99% APR based on creditworthiness at time of application. Loans up to $35,000. Fast & Easy Process. Terms are 36 to 84 months. No prepayment penalty. This is not a firm offer of credit. Any results displayed are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For example, for a $15,000 loan with an APR of 10.99% and 60 month term, the estimated monthly payment would be $326. The estimated total cost of the loan in this example would be $19,560.


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