RISE Personal Loans Review

Read our Advertiser Disclosure.
Contributor, Benzinga
June 15, 2022
Rise Personal Loans
Overall Rating:
securely through Rise Personal Loans's website

Personal loans can provide individuals with much-needed funds to cover unforeseen expenses. Companies such as RISE offer personal loans that vary depending on factors like state laws, an individual’s financial history and personal credit score. RISE has assisted over 250,000 customers and provides individuals with the opportunity to obtain flexible payment schedules. The company offers different loan options, financial education tools and resources that allow customers to track their credit scores. Benzinga reviewed RISE’s personal loans and took into consideration several factors such as fees, customer service, term lengths and loan approval requirements. Overall, Benzinga discovered that RISE has the benefit of offering to fund individuals with lower credit scores, but loans include higher APR rates that can make the funds expensive and difficult to repay. Consider speaking with a financial professional before applying for a personal loan to better understand the best option for you. 

Best For
  • Individuals in need of expedited funding
  • People with lower credit
  • Low minimum loan amount
  • Fast application and funding
  • No origination fees
  • Loan amounts are lower than some competitors

Rise Personal Loans Ratings at a Glance

RISE Fees and Rates
RISE Customer Service
RISE Terms and Loan Purpose
RISE Loan Approval Requirements
RISE Overall

RISE Fees and Rates

APRDepends on the state, but can range from around 36% to 299%   
Origination FeeNone
Late FeeNone 
Prepayment FeeNone 

RISE does not charge late fees or origination fees. Origination fees are charges that are related to opening a loan account. The company also does not charge late fees, but late payments are discouraged. Late payments negatively impact an individual’s credit score and can hinder a person’s ability to obtain competitive loan rates. 

However, RISE charges APR rates that are much higher than the industry standard. An APR rate stands for the annual percentage rate and indicates the collective amount of interest charged in a year. Rise’s APR rates extend to 299%, which has the potential to overwhelm a borrower. The company’s lower APR rates are typically reserved for returning customers in states such as California. Even RISE’s lowest interest rates are still far higher than the average personal loan APR rate. For example, a good APR score for personal rates tends to hover around 20%. RISE charges higher APR rates that take an individual’s credit score and additional financial information into consideration. A person’s credit score and personal financial history has the potential to either positively or negatively impact a person’s loan options. 

RISE Customer Service

RISE customer service is accessible through multiple modes of communication such as social media, email and a phone number. The company uses multiple social media platforms such as YouTube and Twitter. The website states a physical mailing address where customers are able to send payments. In terms of direct communication, the company encourages emails that can be sent directly through the website. Individuals can expect a response within 48 hours when using email. When communicating by phone, the company offers an automated system where customers have the ability to check important information such as their balance throughout the day. However, RISE maintains set hours such as weekdays between 8 a.m. and 11 p.m. EST for customers in need of direct personal assistance from a customer representative.r 

When comparing companies, consider how current and previous customers have rated their experience. Visit websites such as BBB and Trustpilot to more fully understand how a company stacks up against the competition. Seek out customer reviews and read positive and negative comments to have a more well-rounded understanding of the company and its offerings. 

BBB RatingA+
Trustpilot Score4.6/5
Benzinga’s Score3.5/5
J.D. Power RatingN/A

RISE Terms and Loan Purpose

The term options span between 5 months and 26 months depending on which state you reside in. The loans offer fixed rates, so the interest rate does not change throughout the duration of the loan. RISE provides specific personal loans that are considered a type of installment loan. It’s viewed as an installment loan because customers pay it back over a previously determined amount of time. The loan can be used to cover a wide range of needs. The company offers loans that can prove beneficial for individuals in need of a quick funding process because once an individual is approved the funds are typically available within a few days. 

RISE allows you to research its loans on the website and encourages exploring the state-specific borrowing options. The website provides a designated section where people have the ability to examine various borrowing options depending on the state. For example, the terms and rates offered in the state of Kansas are not the same as the ones provided in California. 

Loan repayment can be expedited to better fit an individual borrower’s timeline. For example, the company has no penalty for early repayment on loans. In addition, RISE offers more flexible payment scheduling. 

Avoid taking out loans that you believe will be difficult to repay in a timely manner. Defaulting on a loan will decrease your credit score and make it increasingly more difficult to obtain a loan in the future. 

Term OptionsDepends on the state, but generally between 5 and 26 months
Loan Amounts AvailableDepends on the state, but mostly between $500 and $5,000 

The loan amounts usually range between $500 and $5,000, but the exact amounts vary depending on the state. Individuals have about five days from the origination date to make a final decision. The five days act as a buffer where people can decide if such a loan is right for them. If an individual decides that a RISE loan is not the right choice, then that person must repay the principal during the grace period. The principal is the amount of money that a person agrees to pay back with a loan. For example, if an individual takes out $2,000 and changes their mind within the grace period, then that person will need to repay the principal which would still be about $2,000 if no previous payments had been made. 

The loans are intended to be used in the event of an emergency. For example, these loans can prove beneficial during emergency events such as a medical crisis or during surprise car expenses. Personal loans can be used for a wide range of needs. These loans are expensive, and alternative methods of funding such as credit cards or borrowing from a different source might be more affordable. 

RISE Loan Approval Requirements

Minimum Credit Score RequirementNot clearly specified, but the website indicates that the company has no minimum score

The company does not clearly state a minimum credit score requirement. It makes it possible for individuals with lower credit scores to obtain a loan. Credit scores range between 300 and 850. Higher scores are viewed as better. Scores above 720 receive lower interest rates and increased loan flexibility. 

The company has a minimum income requirement that is not clearly stated on the website. RISE indicates that loans are provided depending on a person’s previous loan repayment history. Consider reaching out to the company for clarification before entering into a loan. 

To obtain a loan, individuals must have a valid email address, a source of income and an active checking account. Alternative accounts such as savings accounts are not accepted. 

In terms of speed, it’s possible to obtain a RISE loan within 24 hours after applying. If an individual changes their mind about taking out a RISE loan. then they have a grace period of five days from the origination date to close the loan. 

RISE vs. Competitors

RISE offers the opportunity to obtain funding in less than 24 hours. Such expedited funding can prove beneficial for people in time-sensitive situations. In addition, the company also offers a wide range of assistance such as customer service, financial education tools and the opportunity to build credit. RISE provides customers with helpful tools that indicate state-specific borrowing options as well as offering articles that provide useful financial information.  

However, RISE maintains extremely high APR rates, which have the ability to hinder an individual’s ability to repay personal loans. When a person fails to repay a loan, it will decrease their credit score. An individual’s credit score will decrease after defaulting on a loan because RISE reports to two different credit bureaus: Experian and TransUnion. 

  • securely through Rise Personal Loans's website
    securely through Rise Personal Loans's website
    Best For:
    Best for Flexible Terms
    Read Review
  • securely through Axos Bank Personal Loan's website
    securely through Axos Bank Personal Loan's website
    Best For:
    No collateral required
    Read Review
  • securely through Figure Personal Loan's website
    securely through Figure Personal Loan's website
    Best For:
    Quick funding
    Read Review
  • securely through SoFi Personal Loans's website
    securely through SoFi Personal Loans's website
    Best For:
    No origination fees
    Read Review

    Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.

    Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

    Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

  • Best For:
    Consolidating Debt
    Read Review

RISE Overall

Overall, RISE earns 3.5 out of 5 stars. RISE provides quick funding for personal loans and maintains a strong reputation in terms of customer service. In regard to customer service, RISE Credit has multiple modes of communication such as a phone number and email. Customers can reach a customer representative and ask questions during business hours.  

The company charges no additional fees. For example, RISE doesn't charge origination fees or prepayment fees. However, RISE charges extremely high APR rates. The company has APR rates that can extend to three digits. Elevated APR rates have the potential to make it difficult for people to repay their loans in a timely manner. 

RISE has APR rates that can reach up to 299% which can prove nearly impossible to repay for people in tight financial positions to begin with. The company also has lower APR rates, but the more approachable APR rates are typically reserved for return customers in specific states such as California. When examining different loan options, people should contemplate if they will be able to repay such high APR rates before taking the loan. 

RISE offers personal loans that could prove beneficial for individuals in need of fast emergency funding. However, other less expensive funding alternatives have the ability to provide more manageable APR rates. 

Frequently Asked Questions

When examining personal loans, consider writing down questions that seem important to you. Research questions online or reach out to a customer service representative that’s affiliated with the company. If possible, speak with a representative of the company that provides the loan you are interested in receiving. Keep in mind that personal loans should not be taken lightly. Research the multiple available options and think about speaking with a financial professional before applying for a loan. 

Is it possible to have multiple RISE loans? 

Individuals are not allowed to have more than one RISE loan at the same time. It is recommended that a person first pays off their initial loan before applying for another. In addition, it’s possible to refinance a current RISE loan depending on the information detailed in the account. For example, a customer can find an option to refinance a RISE loan once fully signed into their loan account. 

Does RISE operate in all 50 states?

RISE offers services to a wide range of states, but individuals should research the specific financial tools available before applying. For example, states such as California and Illinois only allow certain loans for individuals that were previously RISE loan customers. In states such as Nevada and Arizona, the loans are funded by FinWise Bank. Depending on the state, the loans and financial services are offered and provided by different banks. 

When examining features such as term lengths and APR, keep in mind that the information depends on each state. The term lengths and even the total amount of the loans depends on additional factors such as individual state laws. The RISE website assists interested individuals in navigating state-specific loan offers. 

When examining loans, keep in mind that RISE provides loan options with higher interest rates. The increased rates have the potential to make it difficult to pay off loans. 


  1. RISE Credit. “Why RISE?” Accessed June 2, 2022.
  2. RISE Credit. “Frequently Asked Questions.” Accessed June 2, 2022. 

Submit Your One Minute Opinion

How do you like Rise Personal Loans?