U.S. Bank Personal Loans Review 2022

Personal loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as income. Meeting the requirements below won’t guarantee approval, but they can help you decide if a personal loan is the right fit for you.

Credit Score Requirements

Borrowers applying for a personal loan through U.S. Bank will need a credit score of at least 680 to qualify, but you’ll likely need a score of at least 720 to qualify for the lowest rates.

Income Requirements

U.S. Bank does not state any specific income requirements. Your income will be one factor that determines how much you can borrow and what kind of interest rate you receive.

Co-signers and Co-borrowers

U.S. Bank allows for co-borrowers, who will be equal applicants on the loan. The co-borrower must be present to go over the loan details. If approved, the loan will show up on the co-borrowers’s credit report and could negatively affect their credit if the primary borrower misses a payment or pays late.

Related: Co-Borrower Vs. Co-Signer: Which Should You Use On Your Loan?