Splash Financial Personal Loans Review

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Contributor, Benzinga
January 20, 2022
Splash Financial Personal Loans
securely through Splash Financial Personal Loans's website

Splash Financial is an online marketplace and lending platform where borrowers can quickly find, compare and apply for personal loans and student loan refinancing.

The company’s mission is to create a faster, less expensive financial world. It aims to do this by combining wide credit coverage, competitive rates and an excellent user experience.

Splash Financial’s network of lenders offer products to borrowers in nearly all 50 U.S. states. It’s an ideal match for anyone looking for a personal loan to cover credit card consolidation, home improvement, wedding expenses, etc.

Splash’s technology matches borrowers with credit unions, banks and other lenders whose rates may not be available anywhere else.

Cleveland-based Splash was founded in 2013 and has established more than 100,000 accounts and processed over $6 billion in student loan refinancing requests over the past years.

Best For
  • Comparing personal loans
  • Borrowers with a minimum credit score of 580
  • Access to a dedicated account representative
  • Ability to review whether you qualify for financing and at what rate without a hard credit pull*
  • Fast funding times
  • No application fees or pre-payment penalties
  • Ability to review multiple offers and exclusive interest rates
  • Some offers may require signing up with a credit union
  • Some offers only available to borrowers with good credit

Splash Financial Personal Loans Ratings at a Glance

Splash Financial Application Experience

Splash Financial prides itself on a fast, seamless, personal loan process. Members can sign up, enter their information and automatically check interest rates they qualify for without a hard credit pull. 

When qualified borrowers find the offers they like best, they can complete a full application which will create a hard credit pull. Borrowers receive offers from multiple lenders they can compare and choose the best fit. They can choose the funding amount they’d like, up to the amount they are approved for, and never have to worry about pre-payment penalties. 

Funding is fast. After approval, funds can be directly deposited in as quickly as the next business day. Payment is also simplified with a single, manageable payment per month.

Splash Financial Customer Service

Splash Financial maintains numerous customer support options for its users — it even publishes its address. You can call, email or opt for live chat on the website. Splash Financial also maintains a social media page and a dedicated FAQ page. Although live customer service isn’t available 24/7, Splash is available by phone from 9 a.m. to 9 p.m. EST Monday through Friday.

Splash Financial Personal Loan Pricing

Splash Financial’s lenders do not charge pre-payment penalties, but some lenders do charge origination fees which will be disclosed before the loan is finalized. The actual interest rates and terms you’ll qualify for will largely depend on your credit score, income level and other financial metrics.

Splash Financial Personal Loan Benefits

Splash Financial boasts many user benefits. Most significantly, the platform enables borrowers to receive multiple offers simultaneously, making it easy to compare rates and terms to find the best fit. 

Easy application: Splash’s site and application process is fast and easy. Users can check the interest rates they qualify for quickly and can often have their applications approved the same day. 

Rates on the site: Interest rates and loan offers are compiled in a single place so there’s no need to apply with multiple different lenders to receive multiple offers. 

Smart Interface: Splash Financial boasts a simplified, intuitive interface making it easy to check rates, qualification status and select a lending product.

Splash Financial User Experience

Splash Financial’s site is easy to navigate and intuitive to use. Its product page is clear and contains information on multiple financing options, including student loan refinancing, medical student loans, in-school student loans and personal loans. 

The specific deals each borrower qualifies for vary according to their own unique financial criteria. You’ll need to show:

  • Good credit — 660 for most partners, through some may be 580 and above
  • U.S. citizen or permanent resident

Splash Financial Personal Loan vs Competitors

Splash Financial is a solid online marketplace for personal loan financing and debt refinancing. But it’s not the only platform of its kind. Here’s how Splash Financial compares to its competitors.

  • securely through Splash Financial Personal Loans's website
    securely through Splash Financial Personal Loans's website
    Best For:
    Borrowers with a minimum credit score of 580
    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
  • Best For:
    Comparing lenders
    Read Review

    See Terms*


    Credible Operations, Inc. NMLS# 1681276

    Credible. Not available in all states. www.nmlsconsumeraccess.org.

    320 Blackwell Street Suite200 Durham, NC 27701

    Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. 

    All bonus payments are by gift card. See terms

    Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.

    Won’t impact your credit score DISCLOSURE: (May be in the footer, a tooltip, or a popup the user has to click on or scroll to see)

    Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

    “We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market.

    We receive compensation from the companies below if you click on a link or purchase a product. Amount of compensation may impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

  • 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

    The following payment example depicts the APR, monthly payment and total payments made during the life of a personal loan with a single disbursement. All loan rates below are shown with the autopay discount (0.25%) and direct deposit discount (0.25%). The monthly payment for a $30,000 loan with a 60-month term and a fixed annual percentage rate (APR) between 12.95% – 25.03% would be $681.82 – $881.07 in monthly payments, with total payments between $40,909.47  – $52,864.05. Your actual interest rate may be different than the loan interest rates in these examples and will be based on term of loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Lowest rates reserved for the most creditworthy borrowers. See SoFi.com/eligibility for details.

    Fixed rates from 8.99% APR to 25.81% 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 05/19/23 and are subject to change without notice. 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%-6%, 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.

Splash Financial Personal Loans Overall

Splash Financial gives borrowers the ability to compare multiple personal loan options at once. The platform is intuitive, easy to navigate and convenient. Applying to multiple lenders at a time is unnecessary because Spash Financial compiles your personalized offers onto a single interface. 

Borrowers should expect some variations in the types of financial offers they receive because of their unique credit scores and financial criteria. A credit score of typically 660 or higher is also a requirement. 

Borrowers with a history of bankruptcy aren’t necessarily excluded from Splash Financial. The platform offers loans to people whose last bankruptcy was at least nine years prior to applying. 

Overall, Splash Financial is a solid choice if you’re looking to take out a personal loan or refinance existing debt. It will help you compare offers and select the best fit for your needs.

Frequently Asked Questions


Who does Splash Financial work with?


Borrowers with credit scores of 580 or above. Most clients are looking to take out and compare personal loan offers and different refinancing solutions.


To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. The borrower is required to meet applicable underwriting requirements based on specific lender criteria. Lowest rates are reserved for the highest qualified borrowers. 

1 While funding may be as soon as 1-3 business days at times, funding may take up to 2 weeks.

2 To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Splash marketplace loans offer rates between 4.99%-35.97% APR. Personal loans offered through the Splash network have an origination fee of 0%-8%, if any, which may be deducted from the loan proceeds.

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