Achieve Personal Loans Review 2025

Name: LendingPalm
Address: US

What to know first: Achieve personal loans (formerly FreedomPlus) might be on your list if you’re searching for a personal loan to consolidate debt, fund a home improvement project, or cover a major expense. This lender offers Achieve personal loans ranging from $5,000 to $50,000, making it a solid option for borrowers with good credit who need a sizable loan.

Why Choose LendingPalm?

What is Achieve Personal Loans?

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.

What You Need To Know About an Achieve Personal Loan

Feature	Details
Loan Amounts	$5,000 to $50,000
APR Range	8.99% to 29.99%
Repayment Terms	2 to 5 years
Funding Time	1 to 3 business days after approval
Origination Fee	1.99% to 8.99% of the loan amount
Late Fee	$15 or 5% of the payment amount, whichever is greater
Credit Score Requirement	Minimum 640 (660 for loans of $35,000 or more)

Achieve Personal Loan Pros and Cons

It’s important to know the pros and cons of Achieve before applying for a loan. Here’s what sets Achieve apart and where it falls short:

Pros	Cons
Discounts	High minimum loan amount
Fast funding	Fair or good credit needed
Personal loans up to $50,000	Origination fees
Annual percentage rate (APR)	Not available in all states

Achieve Personal Loans Pros

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.

Achieve Personal Loans Cons

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.

How to Use Achieve Personal Loans?

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.

Who’s Eligible For an Achieve Personal Loan?

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.

Credit Score	Minimum 640 (660 for loans of $35,000 or more). Achieve uses Experian FICO 8 scores to evaluate applications.
Income	No minimum income requirement, but you must have a verifiable income source (e.g., employment, self-employment, retirement, alimony, or disability benefits).
Debt-to-Income Ratio	Maximum 70%, including housing expenses.
Credit History	At least 3 years of credit history across 2 accounts.
Residency	Must be a resident of a state where Achieve operates.

Meeting these requirements makes sure that borrowers can manage their loan repayments effectively and access favorable terms. It’s important to review the eligibility criteria and assess your financial standing before applying to improve your chances of approval.

Before You Apply For Achieve Personal Loan

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:

Check Your Credit
Calculate Your Monthly Payments
Make a Plan to Repay the Loan
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.

How to Apply for an Achieve Personal Loan?

Applying for an Achieve personal loan is a simple process that can be completed online. It begins with pre-qualification, where you visit Achieve’s website and provide basic details such as:

Your desired loan amount
Your income
Your credit score

At this stage, Achieve performs a soft credit check, which won’t impact your credit score. Once pre-qualified, you’ll receive loan offers displaying your potential loan amount, APR, repayment term, and estimated monthly payment. It’s a good idea to compare this offer with pre-qualified offers from other lenders to ensure you’re getting the best deal.

If you decide to move forward, you’ll need to submit a formal application. This may require documents like:

Pay stubs
Tax returns
Bank statements
W-2s

At this point, Achieve will conduct a hard credit pull, which may temporarily lower your credit score. After approval, Achieve typically disburses funds quickly. In most cases, loans are approved within an hour, and the funds are deposited into your account within one to three business days. If you’re using the loan for debt consolidation, Achieve can send the funds directly to your creditors.

Compare Achieve to other lenders

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:

Comparison	APR	Loan Amount	Origination Fee	Best For
Achieve vs. Happy Money	8.99% – 29.99% vs. 8.95% – 17.48%	$5,000 – $50,000 vs. $5,000 – $40,000	1.99% – 8.99% vs. Up to 7%	Larger loans, multiple rate discounts vs. Smaller loans, lower APRs
Achieve vs. Best Egg	8.99% – 29.99% vs. 7.99% – 35.99%	$5,000 – $50,000 vs. $2,000 – $50,000	1.99% – 8.99% vs. 0.99% – 9.99%	Good credit vs. Fair credit borrowers
Achieve vs. SoFi	8.99% – 29.99% vs. Varies by creditworthiness	$5,000 – $50,000 vs. $5,000 – $100,000	1.99% – 8.99% vs. No origination fee	Rate discounts & quick funding vs. Larger loan amounts, no fees
Achieve vs. Avant	8.99% – 29.99% vs. Varies (higher for low credit scores)	$5,000 – $50,000 vs. $2,000 – $35,000	1.99% – 8.99% vs. Varies by credit profile	Good credit & larger loans vs. Low credit & smaller loans
Achieve vs. First Tech Federal Credit Union	8.99% to 29.99% vs. 8.49% to 13.73%	$5,000 to $50,000 vs. $500 to $50,000	1.99% to 8.99% vs. Varies	Achieve is ideal for larger loans; First Tech offers lower APRs.
Achieve vs. PenFed Credit Union	8.99% to 29.99% vs. 8.99% to 17.99%	$5,000 to $50,000 vs. $600 to $50,000	1.99% to 8.99% vs. None	Achieve for larger loans; PenFed for no fees.
Achieve vs. Discover	8.99% to 29.99% vs. 7.99% to 24.99%	$5,000 to $50,000 vs. $2,500 to $40,000	1.99% to 8.99% vs. None	Achieve for higher loan limits; Discover for lower APRs.
Achieve vs. U.S. Bank	8.99% – 29.99% vs. 8.74% – 24.99%	$5,000 – $50,000 vs. $1,000 – $50,000	1.99% – 8.99% vs. Varies	Fast funding vs. Lower APR range
Achieve vs. LightStream	8.99% – 29.99% vs. 6.94% – 25.29%	$5,000 – $50,000 vs. $5,000 – $100,000	1.99% – 8.99% vs. None	Flexible loan terms vs. No origination fees
Achieve vs. Upstart	8.99% – 29.99% vs. 7.40% – 35.99%	$5,000 – $50,000 vs. $1,000 – $50,000	1.99% – 8.99% vs. Varies	Strong credit borrowers vs. Fair/limited credit
Achieve vs. Wells Fargo	8.99% – 29.99% vs. 6.99% – 24.49%	$5,000 – $50,000 vs. $3,000 – $100,000	1.99% – 8.99% vs. Varies	Multiple rate discounts vs. Larger loan amounts
Achieve vs. Alliant Credit Union	8.99% – 29.99% vs. As low as 8.99%	$5,000 – $50,000 vs. $1,000 – $100,000	1.99% – 8.99% vs. None	Fast funding vs. Higher loan limits

while Alliant Credit Union is ideal for those seeking lower rates and higher loan limits.

Personal Loan Mistakes to Avoid

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.

Is Achieve Personal Loans Legit?

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 Review

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.”

Who Achieve Personal loan Is Best For

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.

Who Should Consider Achieve Personal loan Alternatives

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

Conclusion

Achieve Personal Loans provide flexible terms and competitive rates, but it’s important to evaluate your financial needs and eligibility before applying. If you’re ready, applying for an Achieve loan could be a great step toward securing the funds you need. Ready to apply? Click achieve login to get started today.

FAQ’s

FAQs About Achieve Personal Loans

How long does Achieve take to approve a personal loan?

Achieve provides quick credit decisions, often letting you know whether you’re approved the same day you apply. Once approved, funds are typically dispersed within one to three business days.

What credit score do you need for an Achieve personal loans?

Achieve doesn’t reveal every detail for loan approval, but borrowers need a minimum credit score of 620 and must be residents of a qualifying U.S. state. For loans exceeding $35,000, a credit score of 660 or above is typically necessary. Higher credit scores can help secure the most favorable APRs.

Does Achieve run a hard credit check?

Yes, but only during the formal application process. Achieve allows you to pre-qualify with a soft credit check, which won’t affect your credit score. If you proceed with the application, a hard credit pull will be performed, which may temporarily lower your score by a few points.

What is Achieve personal loans APR range?

Achieve personal loans APRs range from 8.99% to 29.99%. Your actual rate will depend on factors like your credit score, income, and loan amount.

Can I apply with a co-borrower?

Yes, Achieve personal loans allows co-borrowers. Adding a co-borrower with strong credit can improve your chances of approval and may help you qualify for a lower APR.

What are Achieve personal loans rate discounts?

Achieve personal loans offers three ways to lower your APR. Applying with a creditworthy co-borrower can reduce it by nearly four percentage points. Borrowers with sufficient retirement savings may receive an average discount of 1.5 percentage points. Sending loan funds directly to creditors for debt consolidation can lower the APR by over 3.5 percentage points.

What fees does Achieve personal loans charge?

Achieve personal loans charges an origination fee of 1.99% to 8.99% of the loan amount, which is deducted before funds are disbursed. There’s also a late fee of $15 or 5% of the payment amount, whichever is greater.

What can I use an Achieve personal loan for?

Achieve personal loans can be used for various purposes, including debt consolidation, home improvements, and medical bills. They also help finance major life events such as weddings, vacations, and funerals. Additionally, borrowers can use them for business expenses or other significant financial needs.

Is Achieve Personal Loans legit?

Yes, Achieve Personal Loans is a trusted lender backed by Freedom Financial Asset Management, LLC. It was originally known as FreedomPlus until it was relaunched as Achieve in December 2022 to streamline its personal financial offerings.

Is Achieve personal loans available in my state?

Achieve personal loans are not available in Colorado, Connecticut, Hawaii, Iowa, Kansas, Maine, North Dakota, Vermont, West Virginia, Wisconsin, or Wyoming.

What is the highest credit score to achieve?

The highest possible credit score you can achieve is 850. This is typically reserved for individuals who have a long history of responsible credit use, including timely payments, low credit utilization, and a diverse credit mix. Achieving a score near 850 can provide the best loan terms and the lowest interest rates, but scores in the 700-800 range are also considered excellent.

What credit score do you need for an Achieve loan?