Splash Financial Personal Loan Review
8.99%-35.99% (with autopay)
24 to 84 months
$1,000-$100,000
Not specified
LendingTree rating: 4.1/5
- Eligibility and access: 4.5/5
- Cost to borrow: 4.1/5
- Loan terms and options: 4.6/5
- Repayment support and tools: 2.5/5
- Big loans available: You could qualify for a personal loan of up to $100,000 by shopping with Splash Financial.
- Potential for a high origination fee: A loan through Splash will come with an origination fee You don’t pay origination fees up front on a personal loan. The lender usually rolls them into your loan, where they will accrue interest. You may also need to borrow more money to make up for the fee in order to get the amount you need. between 0.00% - 15.00%. That maximum is very high for a personal loan.
- Usually fast, but not always: Most loans take one or two business days, but some can take up to two weeks (though this isn’t typical).
- Don’t need perfect credit: Expect higher rates, but you might still qualify if you have fair credit (Splash Financial generally suggests at least 660).
- Best for loan shoppers with good (not excellent) credit: The lowest rate you can get through Splash Financial is 8.99%. That’s competitive for good credit, but you can probably find better rates if you have very good to excellent credit (740+).
Splash Financial pros and cons
Getting a personal loan is a major financial decision. So is choosing where you find it. Review the pros and cons before deciding whether you want to work with the Splash marketplace.
| Pros | Cons |
|---|---|
| Can shop for more than one lender at a time Big loans and long loan terms if you qualify Lots of ways to contact the company, including live chat | No cosigners or joint loans May have a high origination fee No mobile app or perks |
Splash Financial is a loan marketplace. It works with a network of partner lenders to help you compare rates and find a personal loan. Rates, terms and credit requirements vary by partner.
Some of Splash Financial’s partners offer long 84-month loan terms, which can help make a $100,000 loan easier to manage. Generally, the longer the loan term, the lower your monthly payment (but the more total interest you’ll pay).
Splash Financial does have some significant drawbacks.
You could qualify with no-so-perfect credit, but your loan could come with an origination fee of 0.00% - 15.00%. The high end is more likely the lower your credit score is.
If you have excellent credit, you may qualify for a personal loan with no origination fee. If you have bad credit, you could qualify for a loan with a lower origination fee than Splash’s.
Splash Financial requirements
Splash Financial is a loan marketplace, so eligibility requirements depend on Splash’s partner lenders. Learn more about personal loan requirements and how lenders on Splash Financial’s platform evaluate loan applications.
To use Splash Financial to find a personal loan, you must meet the requirements below:
Age: Be at least 18 or the age of majority in your state
Residency: Be a U.S. citizen
Administrative: Have an active checking or savings account
Required documents: In some cases, pay stubs and/or a valid ID
If you meet the basic requirements listed above, you may need to disclose how you plan to use your personal loan. While Splash Financial does allow borrowers to use its funding for a variety of purposes, there are certain expenses you cannot put the money toward.
| Splash Financial loans CAN be used for… | Splash Financial loans CANNOT be used for… |
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If Splash Financial’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.
| Best personal loan options for: | |
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How to get a personal loan with Splash Financial
The actual application process may differ a little from partner to partner. Still, finding a loan with Splash Financial is straightforward.
- Check rates. You’ll fill out one form, which Splash Financial will use to see if you prequalify for any of its partner lenders and if so, at what rate. This won’t hurt your credit score.
- Apply for the loan. If you find a loan that works for you, you’ll fill out a formal application online. Splash Financial can help you, if needed. You can also check your application status on Splash’s website throughout the process.
- Get funded. You can get your loan within one to two business days if you’re approved. However, funding can take up to two weeks in some cases.
How Splash Financial compares to other personal loan companies
Even if you believe Splash Financial aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Splash Financial stacks up against similar personal loan lenders.
| Lender | Splash Financial | LightStream | Upgrade |
|---|---|---|---|
| LendingTree’s rating | 4.1/5 | 4.4/5 | 4.7/5 |
| Minimum credit score | Not specified | Not specified | 580 |
| APRs | 8.99%-35.99% | 6.24% - 24.89% (with autopay) | 7.74%-35.99% (with discounts) |
| Loan amount | $1,000-$100,000 | $5,000-$100,000 | $1,000-$50,000 |
| Repayment terms | 24 to 84 months | 24 to 84 months | 24 to 84 months |
| Origination fee | 0.00% - 15.00% | None | 1.85% - 9.99% |
| Funding timeline | Funding may be available as soon as one business day | Funding may be available as soon as the same business day | Funding may be available as soon as one business day |
| Bottom line | Splash Financial is a lending platform that can make it easier to find a loan, but its origination fees can be high. | LightStream only lends to borrowers with good or excellent credit. However, those that qualify can get a same-day loan with low rates and no fees. | Upgrade only requires at least fair credit, and its origination fees are a little lower than you may get with Splash Financial. |
How we rated Splash Financial
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
Yes. Splash Financial is a legitimate company. This loan marketplace started in 2013, and at that time, it only offered student loan refinancing. Today, it has partners that offer personal loans, student loans, home equity lines of credit (HELOCs) and medical student loan refinancing alongside student loan refinancing.
Just because a company is legitimate doesn’t mean it’s right for you, though. Use this Splash Financial personal loan review and the Consumer Financial Protection Bureau’s complaint database to get an idea of what the marketplace has to offer.
If you have good credit, Splash can be an easy way to shop for a personal loan. Splash is a lending platform with the sole purpose of helping people compare loans. It’s able to offer a wide variety of repayment terms and loan amounts through its partner lenders.
However, Splash does have drawbacks. Although shopping is easy, it can come with a cost. Splash Financial charges an origination fee between 0.00% - 15.00% — that high end is very expensive. Origination fees are more likely the lower your credit score is.
It usually only takes a few minutes to find out if you’re approved for a loan on the Splash Financial loan marketplace.
First, you’ll fill out a quick form to prequalify for a personal loan from one or more of Splash’s lending partners. If you are prequalified, you’ll pick an offer and sign your documents. From there, it usually takes one to two business days to get your money, but in some cases, it can take up to two weeks.