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60MonthLoans Personal Loan Review

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A 60MonthLoans personal loan might be best for borrowers who need unsecured personal loans and are California- or Utah-based. 60MonthLoans requires borrowers have good to excellent credit scores, though they will consider additional criteria (such as monthly income) for approval. Personal loans are available for low amounts. Read on to determine if a 60MonthLoans personal loan is for you.

60Month Loan personal loan highlights

  • No early repayment penalties: 60MonthLoans does not charge penalties for early repayment of your loan.
  • Origination fee applies: A loan fee of $75, or 60Month Loan depending on the product you qualify for, will be deducted from your loan proceeds.
  • Hard credit inquiry: A hard credit inquiry may be conducted on some instances, which could lower your credit score.
  • No cosigning options: 60MonthsLoans does not provide the option of applying for a loan with a co-signer.

60MonthLoans at a glance

  • APR range: 19.57% to 69.73%
  • Minimum credit score: Not specified
  • Terms: 12 to 60 months
  • Origination fee: Up to 15% of the loan proceeds

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Terms Fees and penalties
  • Terms: 12 to 60 months, California and Utah residents only
  • APR range: 19.57% to 69.73%
  • Loan amounts: $2,600 to $10,000
  • Time to funding: 1 business day after approval (earliest)
  • Credit check: Hard pull in some cases
  • Origination fee: Up to 15% of the loan proceeds
  • Prepayment fee: None
  • Late payment fee: Not specified

Eligibility requirements

  • Minimum credit score: Borrowers should have “good” or “excellent” credit.
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

Eligible clients must be residents of the states of California or Utah. Lower APR rates are offered to customers with higher credit scores.

What borrowers are saying about 60MonthLoans

On LendingTree, 60MonthLoans has an overall rating of 4.9 out of 5 and a 100% recommendation rate. Borrowers consistently praise it for being a “quick and easy” process with “excellent customer service” and “reasonable rates.”

One satisfied borrower identified as Mary from Santee, Calif., stated, “This company has saved me twice. This is [a] great company who cares about their customers. The financing is very reasonable and they helped me with financing at a great pay, twice a month. I highly recommend them.”

“60MonthsLoan is a great company to deal with,” stated a borrower identified as Serena from Modesto, another client who awarded them 5 stars. “Their customer service truly works with their customers. If I ever had a question or concern I could contact them at any time and receive the answers I was looking for. If I had an issue understanding something, they took the time to help me understand. I will recommend them to anyone in need of their services and I myself plan on utilizing their services again. Thank you to the staff of 60MonthsLoan for all your help in the time I needed it most.”

Applying for a personal loan from 60MonthsLoans

To apply for a personal loan from 60MonthsLoans, 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 like a bank statement and proof of income. A hard credit check may be conducted to determine your ability to pay off your loan,which may negatively affect your credit score.

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.

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.
  • You may apply to lengthen your loan term: Borrowers have the option to extend the current amount of their loan by contacting customer service.
  • Origination fee: In some cases your origination fee may be as high as Up to 15% of the loan proceeds.
  • No co-signers allowed: You do not have the option to apply for a loan with a co-signer.
  • High rates: For borrowers with excellent credit, 60MonthLoans’ APRs are much higher than competitors’.

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

60MonthLoans’ personal loan may be a good fit for borrowers who need fast access to funds. However, 60MonthLoans’ borrowing limits are restrictive compared to other lenders, though 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. 60MonthLoans’ origination fee may be high, too, depending on your circumstances.

However, if you have very high interest debt and good 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 60MonthLoans’ rates may not be your best for refinancing it.

Alternative personal loan options


  • APR: 5.99% to 24.99%
  • Minimum credit score: 640
  • Terms: 24 and 60 months
  • Origination fee: up to 5.00%

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, Payoff 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.

Marcus by Goldman Sachs®

  • APR: 6.99% to 19.99%
  • Minimum credit score: Not specified
  • Terms: 36 to 72 months
  • Origination fee: No origination fee

Marcus by Goldman Sachs offers loans in amounts up to $40,000 and does not charge any type of fees whatsoever. They were recently named No. 1 in customer satisfaction with personal loans in a survey by J.D. Power.

Another perk this lender offers is the ability to change the due date of your loan payment up to three times over the life of the loan. If you make 12 or more on-time consecutive monthly payments, you may be permitted to defer one payment without accruing additional interest.

The process does not incur any fees and is relatively quick. Funds are deposited directly into the borrower’s account within one to four business days.

Discover Bank

  • APR: 6.99% to 6.99%
  • Minimum credit score: Not specified
  • Terms: 36 to 84 months
  • Origination fee: No origination fee

Discover Personal Loans offers no-fee personal loans with longer repayment terms than most of its competitors, which is 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.


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