Zable Reviews

We like Zable for its quick funding. You can get your funds the same day, depending on the time you accept your loan terms. We also appreciate that you can use a Zable personal loan for a variety of reasons, including moving expenses or car repair costs.

Zable’s interest rates and fees are on par with many other lenders, although this information isn’t publicly available on its website without inputting personal information. However, we do like that you can check your rate without any impact on your credit score.

Note that Zable is not the best lender if you need a co-signer or joint borrower on the loan. This means you will need to qualify for the loan based on your credit and income alone.

While we do appreciate that you can change your payment date with your Zable loan, you will not be able to request an increase or borrow a second loan from the lender.

Zable offers unsecured personal loans between $1,000 and $35,000, with term lengths of one to five years. Some states require a minimum loan amount. For example, Massachusetts residents must borrow at least $6,001. All loans are funded by Cross River Bank.

You will have 14 days to accept your loan terms; otherwise, you’ll need to request a new rate.

Zable does not list its personal loan requirements on its site, but you can expect the following:

• Be at least 18 years old
• Have a credit score of at least 600
• Have proof of residency in a state where Zable operates
• Have a verifiable source of income

While Zable doesn’t publish its rates publicly on its website, the lender informed ConsumerAffairs that its APR range is 12.95% - 35.99% as of publishing.

In order to check your interest rate, you’ll need to request a personalized rate with Zable through an online form. After inputting your information, such as how much you want to borrow and for what purpose, you should receive a quote within minutes.

Once you qualify for a quote, you’ll be able to adjust the term lengths (from one to five years) to see different rate options you’re preapproved for. You will then need to go through a hard credit check to lock that rate in.

While Zable does not charge any hidden fees or prepayment penalties, you will need to pay an origination fee to secure your loan. According to its site, this nonrefundable fee is deducted from your loan before you receive the funds.

These fees vary, but expect to pay around 6% of the loan amount. Your specific fee amount will be laid out in your offer letter before the loan is finalized.

Applying for a Zable loan is straightforward and should only take a few minutes if you have the necessary documents ready. First, apply for a rate quote through Zable’s online form.

If you are happy with this rate, you can continue the process. You will need to verify your identity, address and income before receiving a final decision. You can do this by uploading copies of your information to your Zable account or emailing proof to its customer service.  Or, you can link a Plaid account, which bypasses the need for uploading or emailing any identity proof.

Zable loans are not available in the following states:

• Colorado
• Connecticut
• Indiana
• Kansas
• Louisiana
• Maine
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• North Dakota
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Vermont
• West Virginia
• Wisconsin
• Wyoming

Zable offers competitive interest rates and fees, however, it has a relatively low loan maximum that will deter those borrowers in need of larger funds. Here’s how it stacks up against two popular competitors, SoFi and Best Egg.

Yes, Zable is a legitimate company, but it is new to the U.S. It is also limited to only 29 states and Washington, D.C., so the company’s reach is still fairly small. Zable is backed by a Federal Deposit Insurance Corporation-insured bank and says it has helped thousands of borrowers in the U.S., as well as over 1 million borrowers in the U.K.