Achieve Personal Loans Review 2025

Achieve personal loans is an online lender that provides personal loans, home equity loans, and specialized “acceleration loans” made to help borrowers pay off debt faster. Founded in 2002 as FreedomPlus, the company rebranded to Achieve in 2022. Headquartered in San Mateo, California, Achieve partners with Cross River Bank to originate its loans.

Achieve is known for its competitive APRs, fast funding times, and multiple rate discount opportunities. However, its loans are not available in all states, and borrowers should be aware of its origination fees and high minimum loan amounts. Its personal loans are not offered in Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, or Wyoming.

• High Maximum Loan Amount: Achieve allows borrowers to take out up to $50,000, making it a great option for large expenses like home renovations or medical bills. 
  
  
• Co-Borrowers Allowed: If your credit score isn’t strong enough to qualify on your own, you can apply with a co-borrower to improve your chances of approval and secure a lower APR. 
  
  
• Fast Funding: You could receive your funds within one to three business days once approved. 
  
  
• Direct Payment to Creditors: Achieve simplifies debt consolidation by sending funds directly to your creditors, saving you time and effort. 
  
  
• Multiple Rate Discounts: Achieve offers three ways to lower your APR: 
  
  
• Co-Borrower Discount: Reduce your APR by nearly 4 percentage points on  average. 
  
  
• Retirement Savings Discount: Show proof of sufficient retirement savings to get an average discount of 1.5 percentage points. 
  
  
• Direct Creditor Payoff Discount: If you’re consolidating debt, sending loan proceeds directly to creditors can lower your APR by over 3.5 percentage points.
  
  

• High Minimum Loan Amount: The smallest loan you can take out is $5,000, which may be more than some borrowers need.
  
  
• Origination Fees: Achieve charges an origination fee of 1.99% to 8.99%, which is deducted from your loan amount before disbursement.
  
  
• Late Fees: If you miss a payment, you’ll be charged a late fee of $15 or 5% of the payment amount, whichever is greater.
  
  
• Not Available in All States: Achieve loans are unavailable in Colorado, Connecticut, Hawaii, Iowa, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, and Wyoming.
  
  

Achieve personal loans offer financial flexibility, allowing borrowers to use them for a variety of purposes. One of the most common uses is debt consolidation, which helps streamline multiple debts into a single loan with a fixed interest rate. This not only simplifies payments but can also reduce overall costs. Similarly, credit card refinancing is another popular option, enabling borrowers to pay off high-interest credit card balances with a lower-rate personal loan, ultimately reducing monthly payments and saving money on interest.

For homeowners, Achieve personal loans can provide the necessary funds for home improvements, renovations, and repairs, enhancing both the comfort and value of a property. Medical and dental expenses, whether planned or unexpected, can also be covered with these loans, ensuring financial stability during times of need. Moreover, in emergency situations such as car repairs or sudden home maintenance issues, Achieve loans offer quick access to funds to manage urgent expenses.

Beyond essential financial needs, these loans can also be used for personal and life events. Borrowers can finance vacations, allowing them to spread the cost of a dream getaway into manageable monthly payments. Wedding expenses, including venue costs, catering, and attire, can also be covered, helping couples plan their special day without depleting their savings. In unfortunate circumstances, Achieve loans can assist with funeral costs, easing the financial burden of arranging a memorial service.

Achieve personal loans can be a valuable resource for entrepreneurs and business owners to support business expenses, whether it’s purchasing inventory, funding marketing efforts, or covering operational costs. Additionally, they can be used for other large purchases, such as home appliances, electronics, or educational expenses, making them a versatile financial tool for various needs.

To qualify for an Achieve personal loan, you’ll need to meet a certain criteria. The lender offers flexible loan options, but approval depends on various financial factors. It provides competitive rates and benefits, but eligibility may vary based on location and other conditions. Furthermore, some borrowers may have access to rate discounts, making it essential to explore all available options before applying.

It’s important to prepare properly to increase your chances of approval and make sure the loan fits your financial situation before applying for an Achieve personal loan. Here are some steps to take:

1. Check Your Credit
2. Calculate Your Monthly Payments
3. Make a Plan to Repay the Loan
4. Gather Your Documents

Preparing thoroughly before applying for an Achieve personal loan can improve your chances of approval and ensure the loan aligns with your financial goals. One of the first steps is checking your credit report. Reviewing your credit history allows you to identify any errors or discrepancies that may impact your score. Addressing these issues in advance can help you qualify for better interest rates and loan terms.

Another important step is calculating your monthly payments. Using a personal loan calculator can provide an estimate of potential APRs, repayment terms, and monthly obligations. This helps you find out whether the loan fits within your budget and avoids future financial strain. Alongside this, creating a solid repayment plan is essential. Assessing your financial situation and making adjustments, such as cutting unnecessary expenses, ensures you can manage the loan payments without difficulty.

Lastly, gathering necessary documents ahead of time can streamline the application process. Lenders typically require proof of income, such as W-2s or pay stubs, proof of address, and your Social Security number. Having these documents readily available can help prevent delays and make the approval process smoother. Taking these steps will not only strengthen your application but also help you make an informed borrowing decision.

Related: Should I Get a Personal Loan?

Achieve is a strong contender in the personal loan market, but it’s not the only option. Here’s how it stacks up against the following popular competitors:

When applying for a personal loan, it’s crucial to avoid common mistakes that can lead to financial trouble:

• Borrowing More Than Needed: Only borrow what you need to avoid unnecessary debt and high-interest payments.
• Ignoring Interest Rates & Hidden Charges: Always review the interest rates and any additional fees associated with the loan to understand the total cost.
• Not Comparing Lenders Properly: Take the time to shop around and compare different lenders to find the best rates and terms.
• Missing EMIs and Late Payments: Timely payments are essential to maintaining a good credit score; consider setting up automatic payments.
• Overlooking Prepayment Penalties: Some lenders charge fees for early repayment; check these terms before signing the loan agreement.

It’s important to compare your options and choose the right lender wisely when considering a personal loan. Look for competitive interest rates, favorable terms, and a lender that aligns with your financial goals. You can effectively meet your financial needs without falling into debt by doing your research and borrowing responsibly.

Rating the Features

We’ve reflected some of Achieve’s best features, but here’s a deeper look at how it compares to help you decide if it’s the right fit for your needs.

User Experience

Achieve provides a smooth and user-friendly experience. The website is well-designed and easy to navigate, with a comprehensive FAQ section that addresses common loan-related questions. If borrowers need assistance during the application process, they can connect with a loan consultant for guidance.

Fees and Rates

Achieve does not charge prepayment penalties or hidden fees, but borrowers should be aware of the origination fee.

While this fee is in line with other lenders that charge an origination fee, some personal loan providers do not require one. Additionally, Achieve’s interest rates are competitive, but a higher credit score is necessary to qualify for the lowest APR.

Transparency

Achieve maintains a high level of transparency regarding its loan terms. The website clearly displays APR ranges, fees, and loan terms upfront, eliminating the need to fill out an application to access basic loan details. However, borrowers won’t know their exact rate and origination fee until they apply.

Flexibility

Achieve personal loans can be used for a wide variety of financial needs. Borrowers have the flexibility to allocate loan funds as needed, whether for debt consolidation, home improvements, or other expenses. This versatility makes Achieve a practical option for different financial goals.

Customer Service

Achieve offers dedicated customer support for loan applicants and existing borrowers. Customer service is available via phone or secure messaging, though live chat support is not currently offered. Borrowers can manage their accounts online through the Achieve website, but there is no dedicated mobile app for personal loans at this time.

Achieve personal loan has an excellent reputation, with an A+ rating from the Better Business Bureau and a 4.8 out of 5-star rating on Trustpilot based on over 10,000 reviews. In 2023, the Consumer Financial Protection Bureau received 17 complaints about Achieve’s parent company, Freedom Financial Network, all of which were resolved immediately.

The company has assisted over 400,000 borrowers, facilitating more than $7.5 billion in loan funding. Achieve personal loans originated by Cross River Bank, and the company is licensed with the Nationwide Multistate Licensing System (NMLS). Customers have praised Achieve for its easy loan process and excellent customer service. Overall, Achieve is a celebrated lender with a strong track record in the personal loan industry.

Achieve Personal Loans has gained a range of customer reviews across various platforms, with many borrowers reflecting their positive experiences. One of the most frequently praised aspects is the professionalism and support provided by Achieve’s team. Customers have expressed appreciation for the courteous and knowledgeable staff, who guide them through the loan process with patience and clarity. 

A customer from Jonesboro, AR, shared, “I decided to take out a personal loan with Achieve Personal Loans and I couldn’t be happier with the service I received. The team, especially the lady I worked with, was incredibly polite and professional.”

Several borrowers have also highlighted the swift and straightforward application procedures. A reviewer noted, “Fast, efficient and friendly. Did what other companies said couldn’t happen. Highly recommend it.”

Customer satisfaction remains a strong point for Achieve, as numerous borrowers have expressed contentment with the overall service. Many have described the loan process as transparent and well-explained, which helped alleviate any initial apprehensions. One satisfied customer mentioned, “Achieve made the loan a painless process. Clearly explained the process and was sensitive to my apprehensions.”   

Achieve Personal Loans is an especially strong option for borrowers with fair to good credit (typically around 640 or higher) who are seeking to consolidate debt or finance major expenses. Its standout features-including multiple rate discounts (co-borrower, retirement savings, and direct creditor payoff), flexible repayment options, and fast funding-make it particularly attractive for those who qualify for these perks. 

Achieve’s dedicated loan consultants and direct payment to creditors for debt consolidation are notable benefits that streamline the borrowing process and can help lower overall costs.

Borrowers with excellent credit may find slightly lower rates and better terms elsewhere. Similarly, if you only need a small loan (under $5,000), Achieve’s high minimum loan amount may not be suitable. Those residing in states where Achieve is not available (such as Colorado, Connecticut, Hawaii, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, or Wyoming) will need to look at other lenders.

Achieve Personal Loans receives a strong editorial rating for its competitive rates, flexible features, and excellent customer support for eligible borrowers. It is a top choice for debt consolidation, especially when rate discounts apply, and for those who value fast funding and personalized service. However, its high minimum loan amount and state restrictions mean it’s not the right fit for everyone.