UMB Financial Personal Loan Full Review

As you could see, UMB Financial is an ideal option for customers looking for a high-amount loan without a collateral requirement.

Borrowing up to $25,000 and still allowing up to five years for repayment, the bank has come up with one of the best deals on personal loans.

Below, you will get in touch with all the requirements you must meet in order to get UMB Financial’s loan approved and its application process.

Who can apply?

To apply for UMB Financial’s personal loan, you must meet certain requirements, including being a U.S. citizen or permanent resident, being at least 18 years old, and having a stable income source.

UMB Financial also requires its applicants to have a minimum credit score of 680 for a personal loan.

It is important to notice that UMB will require some documentation during your application processing, including:

• Your driver’s license, passport, military ID, or state ID
• U.S. Social Security Number
• U.S. citizenship or resident alien status

External account information if funding is from an external account

Lastly, since UMB provides an unsecured loan, the bank requires a good credit history in order to grant you a loan.

How can I apply?

Once you’ve met all of UMB’s requirements, you can apply for their personal loan by phone or in person at one of the bank’s branches.

If you decide to go with the online option, just access UMB’s website and follow the steps below:

• Visit UMB Financial’s website at umb.com.
• Click on the “Personal Loans” link in the main menu.
• Click on “Apply Now.”
• Click on the “I’d like to start a new application” option.
• Fill out the application form with the required information.
• Next, on the personal loan page, you will see a list of loan options, including personal loans. Review the loan options and select the one that best fits your needs.
• Provide Financial Information
• Choose Loan Terms
• Submit Application

Once you have submitted your loan application, UMB Financial will review your request and issue an answer within a few days, and in some cases even within a few hours.

Looking for an online lender? Check out Oportun’s loans?

Oportun’s Personal Loans are specifically tailored to address smaller to medium-sized financial needs.

Currently, Oportun provides both secured and unsecured personal loan options. Unsecured loans allow borrowers to access funds of up to $10,000, while secured loans provide the opportunity to borrow up to $18,500, requiring a vehicle as collateral.

Oportun’s unsecured loans are available to almost any customer, regardless of their credit history, whereas secured loans are exclusively offered to customers who can provide a vehicle as collateral.

Oportun offers flexible repayment terms of up to 42 months, ensuring competitive interest rates starting as low as 10.74% APR.

Additionally, Oportun allows customers to apply with a co-signer, which can be beneficial for individuals with a lower credit score.

Having a co-signer may result in lower interest rates, enabling borrowers with less favorable credit history to access better loan terms.

Key Advantages

Oportun does not impose any prepayment fees, meaning borrowers can pay off their loans ahead of schedule without incurring additional financial penalties.

This transparency and absence of hidden charges allow borrowers to focus on repaying their loans without worrying about unexpected costs.

Additionally, Oportun’s 100% online application process simplifies the borrowing experience by eliminating the need for in-person visits and extensive paperwork.

How to Apply?

If you’re interested in exploring Oportun’s personal loans further, tap the green button below and get in touch with a step-by-step guide on how to apply to this personal loan.

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