Zable Reviews

We like Zable for its quick funding. You can get your funds the same day, provided you accept your loan terms by the cutoff time (3:30 p.m. Eastern). 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. This enables you to explore your options without pressure.

Zable is not the best lender if you need a co-signer or joint borrower on the loan — in fact, it doesn’t allow them at all. 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, the company does have strict requirements for loan repayment to be eligible for borrowing additional money. Zable will contact eligible borrowers by email if they’re able to take out a second loan.

Personal loans

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. Loans with an APR under 30% are funded by Cross River Bank. Loans with an APR over 30% are funded by New Horizon Bank. You will have 14 days to accept your loan terms; otherwise, you’ll need to request a new rate.

Once you’ve accepted your loan terms, you can expect funds to be available the same day (if you accept prior to 3:30 p.m. Eastern) or the following day (if you miss that cutoff). This makes Zable loans great for time-sensitive situations where you need funds as quickly as possible.

Zable personal loans are available in 31 states, plus Washington, D.C.

» MORE: What is an unsecured loan?

Credit card

Zable also offers a credit card. It’s a relatively simple card, with no cash back, rewards, or other perks. As such, we think it’s better suited as a starter card for people looking to build credit for the first time. That said, applying is quick, and if you’re approved, the company gives you a virtual card that you can use immediately until the physical card arrives — again, great for time-sensitive needs. The Zable credit card is issued by Continental Bank.

Zable credit cards are available in 39 states, plus Washington, D.C.

You can view the full list of states where Zable is available on the company’s website.

Zable does not provide specific requirements for its personal loans or credit cards, but you can expect the following general loan requirements:

• Be at least 18 years old
• Have a credit score of at least 600 (for personal loans)
• Have proof of residency in a state where Zable operates (remember, these are different depending on whether you want a personal loan or a credit card)
• 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 16.44%–35.99% for personal loans and 26.49%–33.49% for credit cards. Keep in mind that these are just example ranges — interest rates are based on a range of factors, so you’ll need to go through the preapproval process to see your actual rate.

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.

» MORE: What is APR?

While Zable does not charge any hidden fees or prepayment penalties, you will need to pay an origination fee to secure your loan. 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, so there won’t be any surprises.

Applying for a Zable product 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
• Hawaii
• Iowa
• Louisiana
• Maine
• Maryland
• Nebraska
• Nevada
• North Dakota
• Oklahoma
• Pennsylvania
• Rhode Island
• South Carolina
• Vermont
• Washington
• West Virginia
• Wisconsin
• Wyoming

Zable credit cards are not available in the following states:

• Alaska
• California
• Colorado
• Hawaii
• Iowa
• Minnesota
• Nebraska
• Nevada
• New Mexico
• North Dakota
• West Virginia

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’s based in the U.K. and is still relatively new to the U.S. (which is why it’s not available in all 50 states yet). The company is backed by an FDIC-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.