You can use your FreedomPlus personal loan for large expenses like travel, relocation, medical bills, weddings, debt consolidation or funerals. With FreedomPlus, your funds will be released as early as the same day your loan application is approved up to three days at the most. Additionally, your rate doesn’t increase over time.

At a Glance: FreedomPlus Personal Loans

  • FreedomPlus

    • 7.99% to 29.99%APR Range
    • 600Minimum Credit Score
    • $7,500 to $50,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


MoneyGeek Breakdown - FreedomPlus Personal Loan Details


Freedom plus has an annual percentage rate of 7.99%–29.99%.

Credit Score Requirements

To qualify for a loan, you need a minimum credit score of 600.

Income Requirements

There isn’t an income requirement listed on their website. However, MoneyGeek advises that you directly contact FreedomPlus.

Loan Amounts

With FreedomPlus, you can borrow $7,500–$50,000.

Loan Terms

The repayment term of FreedomPlus personal loans ranges between 24 and 60 months.

Permitted Uses

You can use your personal loan for weddings, debt consolidation, medical expenses, travel, relocation, funerals, home improvement and more.

Prohibited Uses

While FreedomPlus allows you to use your personal loan for almost any reason, it’s advisable to double-check with them and ask about any fund usage restrictions.

Time to Receive Funds

It takes around one to three days to receive funds for your personal loan.

Origination Fees

FreedomPlus charges an origination fee of 1.99%–4.99%.

Late Fees

You’re required to make monthly payments with FreedomPlus. If you miss the deadline, you’ll need to pay a late fee of $15.

Prepayment Penalty Fees

FreedomPlus doesn’t have a prepayment penalty fee, so you can pay your loan off early with no extra charge.

Co-signers and Co-applicants

You can’t have a co-signer for your loan. However, a joint loan is allowed.


You can apply online through their website. You can also contact their FreedomPlus Customer service line in person to get in touch with a representative.

Mobile Application

FreedomPlus doesn’t have a mobile app.

Is FreedomPlus Right for You?

When considering a personal loan, look at a company’s borrower requirements and your financial needs. MoneyGeek’s FreedomPlus personal loan review can help you decide if FreedomPlus fits your unique situation.

Who FreedomPlus Is Perfect For

FreedomPlus is a solid option for people with a credit score of 600 and above who are looking to receive funds within three days or less. You can also get a joint loan with FreedomPlus.

If you’re looking to pay your loan earlier than the agreed term, you won’t incur a prepayment penalty fee with FreedomPlus. You can also use your loan for a variety of purposes like moving houses, vacation, emergency expenses and more.

Who Should Not Choose FreedomPlus

FreedomPlus isn’t for everyone. For instance, FreedomPlus might not fit your financial needs if you need a loan amount below $7,500 or above $50,000. Other personal loan lenders offer smaller minimum and higher maximum loan amounts.

If you have new or no credit, FreedomPlus won’t accept your application. FreedomPlus might not be the best option if you want a lender that allows co-signers or has a mobile app.

You’ll also need to pay an origination fee of 1.99%–4.99%, depending on your terms. So, if you’d like to avoid this fee, it might be wise to evaluate lenders that don’t charge origination fees.

How to Apply for a FreedomPlus Personal Loan

Make sure that you’ve assessed factors like your needs and borrower requirements before applying for a personal loan. If you’d like to apply with FreedomPlus, MoneyGeek listed the steps you’ll follow to get a loan with the lender.


Prequalify and Fill Out an Application Form

You can prequalify through FreedomPlus’s website. You need to input how much you need to borrow, what you’ll use the personal loan for, your personal information and contact details.


Wait for Approval

A FreedomPlus representative will look through your application, and you can get a decision within two to three hours.


Review Loan Agreement

Within the same day, you need to upload the necessary documents. For instance, you may need to give your driver’s license. Be sure to thoroughly read the fine print of your loan agreement so that you know how much money you need to budget.


Sign Loan Agreement and Receive Funds

You can sign your loan agreement online after it’s approved. Once signed, you’ll receive funds within the same day. The processing time depends on your loan application.


Make Payments

FreedomPlus requires borrowers to make monthly payments. If you don’t make your payments on the agreed dates, you could pay a $15 late fee.

What to Do if You Are Rejected From FreedomPlus

If your personal loan application was denied, it might be because you didn’t meet certain requirements. Don’t worry. This happens to many applicants. Some reasons why lenders reject applications are due to a low credit score, not enough income, no credit history or incomplete information. There could be other reasons as well. MoneyGeek recommends that you reach out to FreedomPlus and ask them for the specific reason why your application was rejected.

Once you find out what you need to work on, you can improve it over time. If you still can’t meet the borrower requirements for FreedomPlus, you can try applying with other personal loan companies that cater to your needs and qualifications. But before you do this, make sure you’ve improved the factor that caused your first application to be rejected.

Frequently Asked Questions About FreedomPlus Personal Loans

MoneyGeek answered some frequently asked questions about FreedomPlus personal loans to help you decide if they are the best lender for you. Remember, the best personal loan lenders should be based on your unique needs, credit score and financial profile.

  • FreedomPlus. "About Us." Accessed March 23, 2022.
  • FreedomPlus. "How It Works." Accessed March 23, 2022.

The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

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