What can a personal loan from Bank of America do for you?
A Bank of America personal loan is designed with your life in mind. Whether you want that extra money for large purchases, vacations, education expenses, a wedding or other major event or for consolidating your expenses, it's there you. With flexible repayment terms and a non-variable APR3 you get one predictable monthly payment helping you stay on budget.
Fast and easy.
Apply today and find out in 10 minutes or less if you're approved. Just decide how much you need, the repayment term that's right for you and how you wish to receive the money. Once approved, we can even deposit your money directly into your personal checking account. And with a Bank of America personal loan there is:
- No collateral required
- No application fee
- No annual fee
- No prepayment penalties
A Bank of America personal loan is a great financial management tool for today and for whatever tomorrow brings. You'll have the opportunity to re-access your available credit as you pay down your balance4– building a cash reserve for future needs.
Samples are based on the account qualifying for 8.99% APR; the payments will be higher if the account is approved with a higher APR. APR increases or additional advances will lengthen term or increase payments.
| Amount borrowed: | $5,000 | $15,000 | $35,000 |
|---|---|---|---|
| Estimated payments: |
$96 for 72 months |
$288 for 72 months |
$672 for 72 months |
|
$111 for 60 months |
$332 for 60 months |
$774 for 60 months |
|
|
$133 for 48 months |
$398 for 48 months |
$927 for 48 months |
|
|
$170 for 36 months |
$508 for 36 months |
All payment amounts and terms are estimates based on an APR of 8.99%. Your APR may be higher. We will set your APR between 8.99% and 24.99% based on creditworthiness1. You will pay a 3% transaction fee on each advance (minimum fee $5; there is no maximum). See terms and conditions below for additional information on APR and transaction fee.
Lots of reasons to apply. No reason to wait.
or call
Q. Do I need to be a current Bank of America customer to apply for a Personal Loan?
A. No. Anyone is eligible to apply.
Q. How much money can I request?
A. You can apply for any amount up to $35,000. And, upon approval, we can even deposit the funds directly into your personal checking account.
Q. Is there an annual fee?
A. No. You pay no annual fee or application fee.
Q. How much will my monthly payments be?
A. That depends on the repayment term you choose, the amount you borrow and your APR. By choosing your own payment term, you can request the initial monthly payment that best suits your budget. Plus your monthly payment won't automatically fluctuate when the Prime Rate changes.
Q. Can I use the money for anything?
A. Yes! You can pay off bills2, make a major purchase, fix up the house, even put some extra cash in your wallet. It's your money so you choose how to spend it.
Q. Do I need to put up collateral?
A. No, not one penny. We do not require you to put up any personal assets to secure this loan.
Q. Can I get additional advances?
A. Yes, as you pay down your balance you are able to request additional advances on your available credit at any time. With each additional advance, we'll simply restart your repayment term and recalculate your monthly payment amount.
