Bankrate Review
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Bankrate Reviews

Angela Mae Watson


Angela Mae Watson

Large selection of comparison tools
Large selection of comparison tools
About Bankrate

Bankrate was first established in 1976 as a lender marketplace for many types of personal finance products. This includes personal loans, mortgage loans and refinancing, and home equity loans. Although Bankrate doesn’t offer direct loans, it has a large selection of comparison tools that let you compare different lenders. This makes it easy to find the best loans at terms and rates that work for you and your credit profile.

Bankrate has a good reputation in the industry for providing up-to-date, relevant information on loans and lenders. Whether you’re looking for a personal loan for any credit type or a home loan, chances are this marketplace has something for you.









Bankrate Personal Loans Review

Bankrate is an established comparison site with a solid online reputation and over 4 decades of industry experience. It is not a direct lender, meaning you won’t be able to apply for a personal loan through them. However, Bankrate has intuitive comparison tools that make it easy to shop around for a personal loan that best suits your needs.

Bankrate Personal Loans Highlights


$600 - $100,000


6 months to 12 years


3.09% - 35.99%











Pros & Cons

  • Variety of personal loans with competitive rates and terms (based on borrower’s information)
  • Primarily works with reputable lenders
  • Intuitive comparison tools to help you find the best personal loans
  • It’s an online marketplace with financial resources, not a direct lender
  • Limited customer support and business hour

Loan Purpose

  • Credit Card Refinance
  • Debt Consolidation
  • Home Improvement
  • Medical Expenses
  • Vacation
  • Wedding

Bankrate Personal Loans Terms & Requirements

Like most marketplaces, Bankrate’s personal loans have different repayment terms, interest rates, and eligibility requirements based on the lender. In general, these personal loans are unsecured – you don’t have to use collateral to get financing. To qualify, you must typically also be 18 years old and a US citizen (or permanent resident).

Some lenders in the network accept cosigners, which can help if you have poor credit or a high debt-to-income ratio (DTI). The better your credit score and income, the more competitive your rates and terms tend to be.

How to Apply

Bankrate isn’t a direct lender, so the application process may be different depending on the lender you ultimately choose. With that in mind, using the personal loan comparison tool is straightforward.

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Bankrate personal loan apply

Start by considering what type of personal loan you need, the amount, and the purpose of the funds. Use a personal loan calculator to figure out an estimate of how much you’ll need to pay every month. Don’t forget to include any origination fees or pre-payment penalties.

Bankrate’s network includes lenders that work with borrowers with nearly any credit score and profile. That includes those with limited or poor credit history, as well as those with good credit.

Your credit score and other factors, such as income and debt-to-income ratio (DTI), will determine what types of loans you qualify for, and at what rates. If you have spotty credit or don’t qualify on your own, consider applying with a co-signer.

Bankrate has a pre-qualification process that takes only a few minutes to complete. By pre-qualifying, you can get an idea of which rates are available without hurting your credit score.

Once you’ve selected a lender, head over to their page to finish the application process. Although documentation vary, be ready with the following information:

  • Government ID (ex. driver’s license or state-issued ID)
  • Social Security Number
  • Income verification (ex. tax returns, pay stubs, or an offer of employment)
  • Bank statements
  • Proof of residency (ex. utility bills or renter’s agreement)

Time to funding depends on the lender. Some lenders offer same-day or next-day funds, while others take 1 to 2 weeks.

Qualification Requirements

  • 18 years or older
  • Be a US citizen, permanent US resident, or have a relevant visa
  • Minimum credit score, income, and debt-to-income ratio (varies by lender)
  • Proof of income or employment
  • Valid bank account

Required Information

Every lender has its own requirements, which will be indicated in the individual application form or on the lender’s website. This typically includes personal and financial information (ex. Social Security Number, employment, income, and bank account information).

Even though applying for a loan will require a hard inquiry, it’s also a good idea to check your credit report beforehand. Doing this can boost your approval odds or give you an idea of whether you need a co-signer.

Application Steps & Time Frames

  • Figure out how much you need and why. Factor in any hidden fees, such as origination fees.
  • Check your credit score. Review your credit report for any errors that might be bringing it down.
  • Go through Bankrate’s online pre-qualification process to see what’s available without affecting your credit score.
  • Review and compare the different loan rates and terms.
  • Choose a lender and complete the application on their page. Be prepared with any relevant personal or financial documents.
  • Wait for approval and funds disbursement.

State Availability

Available in all states

Bankrate Mortgages Review

Bankrate is an online platform that helps people compare different financial services before choosing one. In particular, it offers free resources and comparison tools on home purchase, home equity, and mortgage refinancing. It also has a mortgage calculator for people that can help them figure out the exact loan type and amount they need.

When it comes to comparing lenders for mortgage loans and related products, Bankrate provides a near-instant overview of what they offer. This typically includes the name of the company, the average APR (and if it’s fixed), any upfront costs, loan term, and an estimate of the monthly payment. Simply comparing lenders does not require an application.

Bankrate Mortgages Highlights


$50,000 - $999,999


Varies by lender




6.43% - 7.18%


1-4 weeks















Pros & Cons

  • Comprehensive online marketplace with many lenders to compare
  • Simple application process
  • Up-to-date information on mortgage rates and lenders available
  • Website can be tricky to navigate and find specific information about mortgage loans
  • Loan rates, terms, and eligibility vary widely across lenders – specifics aren’t always available
  • Doesn’t contain all home loan types – ex. Jumbo loans

Mortgage Type

  • Mortgage Purchase
  • Mortgage Refinance
  • Fixed
  • Adjustable
  • Home Improvement
  • Home Equity Loan
  • Home Equity Line of Credit
  • FHA
  • USDA
  • VA
  • Jumbo

Bankrate Refinance Highlights


min $50,000


6.45% - 7.16%

Pros & Cons

  • Indicates the national average APR for fixed-rate 15-year and 30-year mortgage refinance
  • Useful filter and sorting tool that lets you specific your needs and situation
  • Offers fairly comprehensive information about mortgage refinancing
  • Simple application to receive a rate quote
  • Eligibility may be high, depending on the lender and loan amount
  • Loan terms and rates vary widely across lenders

Bankrate Home equity Highlights


Max $100,000,000


6.09% - 7.34%

Pros & Cons

  • Quick and easy application process to receive an online quote
  • Comparison chart includes overview of different lenders, such as loan amount, terms, APR, and who it’s best for
  • No impact to credit score through Bankrate
  • Exact loan details aren’t indicated upfront
  • Some lenders charge additional fees (ex. origination fees, application fees, administrative fees, or underwriting fees)
  • Not all lenders off home equity lines of credit (HELOC)

Bankrate Mortgages Terms & Requirements

Since Bankrate is mainly a comparison platform, it doesn’t offer direct loans. Instead, it has a large network of lenders it can help connect you with and compare. Some lenders specialize in different loan types – ex. FHA or refinanced loans. Lenders also have different terms and requirements, based on things like the loan type and amount.

Terms include 10-, 15-, 20-, and 30-year fixed rate mortgage loans, as well as 3-, 5-, 7-, and 10-year ARM loans.

Overall, the terms and requirements are comparable to what’s standard in the industry. You’ll need to navigate to the specific lender to get complete and up-to-date information on their offerings, though.

Qualification Requirements

The exact requirements depend on the lender, as well as the home loan type. Here’s what you can generally expect:

Conventional loan:

  • 620+ credit score
  • 3% to 5% down payment (private mortgage insurance required for anything less than 20%)
  • 43% maximum DTI

VA loan:

  • No down payment or minimum credit score
  • 41% maximum DTI
  • Must be an eligible military member, veteran, or surviving military spouse
  • Funding fee

FHA loan:

  • 580+ credit score
  • 3.5% down payment (PMI required if less than 20% down)
  • 43% to 57% maximum DTI (depending on other factors)

USDA loan:

  • No minimum credit score or down payment
  • No mortgage insurance
  • Funding and other fees
  • 41% maximum DTI
  • Must be located in an eligible location
  • Income limitations apply

Required Information

When filling out Bankrate’s initial online application, be prepared to provide the following:

  • Full name and contact information
  • Estimated income and credit score
  • Employment details

Applying for a home loan or other form of financing may require additional information or documents, such as:

  • Loan amount and type
  • Property type
  • Proof of employment (ex. letter of employment)
  • Proof of income (ex. pay stubs)
  • Government-issued ID
  • Down payment
  • Credit score and report (with individual lender’s hard inquiry)

State Availability

Available in all states

Privacy & Security

Bankrate doesn’t ask for or collect a lot of personal data from its users. However, it does use strong encryption technology to keep any shared information safe.

Its partner lenders are reputable and also have their own privacy and security measures in place. Even so, it’s a good idea to review and verify any external lender’s policies before dealing with them. After all, every lender is different.

Customer Support

Bankrate doesn’t offer a lot of customer support since it serves more as a resource than anything else. It also doesn’t appear to have standard business hours or a dedicated customer service team. It is possible to get in touch with the company via phone, online form, or social media, though.

When you apply for a loan through a lender, you will have access to that lender’s customer support team.

Phone Support
(855) 733-0700

In Conclusion

With over 40 years in the industry, Bankrate is a well-established authority in the personal finance space. Since its inception, it has been helping everyday consumers throughout the journey to financial literacy and success.

Bankrate has many loan and credit card comparison tools, calculators, and financial literacy content online. The marketplace specializes in consumer loans, including home, personal, and student loans. But it also has insurance, retirement, banking services, and investing information.

Bankrate is a reliable resource for those who want to get a loan or learn about personal finance but aren’t sure where to start. Its comparison tools also make it easier to find the best loan product for you, regardless of your credit score.


Does Bankrate offer traditional banking services?
Bankrate is a lender comparison marketplace and source of personal finance information. It’s not a bank or direct lender. You can learn about different banking services, such as savings accounts, on Bankrate. However, it’s not possible to open an account through them.
What types of home loans does Bankrate let you compare?
Bankrate lets you compare the different rates and terms on a variety of financial products. This includes credit cards, personal loans, home equity loans, home refinance loans, and more. It also lets you compare insurance, high-yield savings accounts, and certificates of deposit (CDs).
How does Bankrate make money?
The main way Bankrate makes money is through sponsored services and products, as well as advertising revenue.

Bankrate Disclaimer is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. does not include all companies or all available products


This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.


Angela Mae Watson

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.