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Payoff Personal Loans Review

Rating: 9.4 / 10 (Excellent)
12 Customer Comments & Reviews - see all comments
Disclosure: We receive advertising revenue from this partner.
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Payoff is a company focused on helping people achieve financial wellness. The company works with First Electronic Bank, an FDIC insured Utah-chartered industrial bank to originate loans. Its team of data scientists, research and clinical psychologists, finance services professionals, technology experts and Member Advcates all work to help and educate people on how to achieve their financial goals.

Payoff is an excellent option for those serious about debt consolidation. However, the company's standards for customers is rather high requiring a better than average credit score, high gross income, and 50% or less debt to income ratio. 


Direct Lender

Currently loans are not offered in: AL, AZ, CO, CT, DE, IA, IN, KS, LA, MA, MN, NH, PA, SD, VT, WV, and WY.

Loan Details

Unsecured Loans


Minimum Loan Amount


Maximum Loan Amount


Minimum Loan Period

2 years

Maximum Loan Period

5 years

Loan Rates

Actual rates depends on a client’s credit score, loan amount, loan term, credit usage and history. Payoff offers fixed rates between 5.94% (8% APR) and 22.60% (25% APR) for loan amounts from $5,000 to $35,000. Currently, the maximum APR in NY is 16%.

Direct Deposit



Online Application Time

A few seconds

Response Time

Just a few minutes


  • US citizen or permanent resident
  • At least 18 years old
  • Valid bank account
  • Social Security Number
  • Driver’s license, passport or state issued ID
  • Two most recent paystubs or tax return if self-employed
  • Bank statement

How It Works

Payoff offers a simple, straightforward approach to loans. It has a 4 step process that lets you; check your rate, check your terms, verify your information and ultimately receive your funds. Payoff does not charge applications fees. Origination fees vary based on selected loan term. Clients can check their rates and select the loan term which works best for them. Loan documents can be signed via eSign for faster processing. Funds are electronically deposited to the client’s account.

Payoff Summary

Payoff offers a simple and convenient process when applying for a personal loan. By partnering directly with First Electronic Bank a direct lender, borrowers can be sure that their loans are personally handled by the company rather than passed along to third party lenders. What sets it apart is its team of financial experts and advocates who works with clients not only helping them get the loans they need but also how to achieve financial wellness.

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12 Customer Comments & Reviews

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Debra D
Eden, North Carolina
I was searching for a small bank to help me . someone can help me with a small loan. I am trying to pay some of my bills and Christmas shop. I will need about 1200.00$ to do everything. Thanks in advance Debra Dickerson

San Jose, California
I was searching for loan to sort out my bills & debts, then i saw comments about blank ATM card that can be hacked to withdraw money from any ATM machines. I doubted thus but decided to give it a try by contacting clicking on page https://tinyurl.com/y7xnv4rb they responded with their guidelines on how the card works. i'was assured that the card can withdraw $5000 instant & was credited with $500,000.00 so i requested for one & paid the purchasing fee to obtain the card. 72 hrs later, i was shock to see the DHL agent in my resident with a parcel{card} i signed and went back inside and confirmed the card works after the agent left. This is no doubts because i have the card & has made used... Read More

Dallas, Texas
I am in need of a loan for personal issues if you could help me i am a single mother with 6 children.

Peggy b
Mineola, Texas
I need to payoff a few credit cards and a loan which all together runs about $8000 I draw social security paid once a month hope you can help me Thank you. Peggy boyanton

Judy B
I need a loan that can help me pay my bills l desperately need it I don't want my checking account to bounce can you please help me

Judy B
I need a loan that can help me pay my bills l desperately need it I don't want my checking account to bounce can you please help me

Louisville, Colorado
Very good company

Louisville, Colorado
Very good company

I love it . ther r awesome

My wife and I want to borrow personal loan for $10,000 to pay off our Title Loans . We are paying too much interest for 2 cars. I hope you can give us the loan so we can save some money.

Our Partner
9.4 / 10
  • Payoff Members have raise their credit scores by 40 points.
  • Consolidate all your credit cards to one affordable monthly payment.
  • Fixed-rates between 8%­ and 25% APR.
  • NO prepayment penalties, application fees, late fees, or hidden fees. 
  • Loans for refinancing credit card debt from $5,000 to $35,000