Personal Loans
Borrow for what matters, at a rate that stays put
Fixed rates from 8.99% APR on $1,000 to $50,000, terms of 12 to 60 months, and no origination fee. Approved applications can fund as soon as the next business day.
A straightforward loan, priced like a credit union should price it
One fixed rate, one fixed payment, and a payoff date you can circle on a calendar the day you sign.
Rates from 8.99% APR
Your rate is fixed for the life of the loan. It does not float with the prime rate and it does not reset after an introductory window.
No origination fee
Borrow $12,000 and $12,000 lands in your account. Many online lenders quietly take 1% to 8% off the top before you ever see the money.
Funds the next business day
Applications approved before 4:00 p.m. Eastern on a business day are typically funded into a Summit account the following morning.
Terms from 12 to 60 months
Choose a short term to pay less interest overall, or stretch to 60 months to keep the monthly payment comfortable. You pick, not an algorithm.
No prepayment penalty
Pay extra any month or clear the balance early. Interest is simple daily interest, so paying ahead genuinely costs you less.
A soft-pull rate check
See your real rate and payment in about two minutes with no impact to your credit score. A hard inquiry happens only if you accept.
Rates and example payments
Sample monthly payments on a $15,000 loan. Your rate depends on term, credit history, and the strength of your overall relationship with Summit.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
From application to money in the account
Most members finish the application in under ten minutes.
Check your rate
A soft credit pull returns your actual offers in about two minutes. Your score is not affected.
Pick an amount and term
Compare payments side by side and choose the combination that fits your budget rather than the largest one you qualify for.
Verify income
Upload two recent pay stubs or connect your payroll account. Most verifications complete the same day.
Sign and get funded
Sign electronically and funds move to your Summit account, often by the next business day.
Common questions
What can I use a personal loan for?
Almost anything that is not a business venture, a securities purchase, or post-secondary tuition. Members most often use them for medical bills, home repairs, moving costs, and consolidating credit card balances.
What credit score do I need?
There is no published cutoff. We look at your score alongside income, existing debt payments, and your history with Summit. Members in our top credit tier see the 8.99% starting rate; other tiers are priced above it.
Is collateral required?
No. A personal loan is unsecured, so nothing you own is pledged against it. If you want a lower rate and have savings you can leave untouched, a share-secured loan will almost always price better.
Can I add a co-borrower?
Yes. A co-borrower shares equal responsibility for the loan and both credit profiles are considered, which frequently produces a lower rate than either applicant would receive alone.
Does checking my rate hurt my credit?
No. The pre-qualification uses a soft inquiry that is visible only to you. A hard inquiry is recorded only after you accept an offer and move forward with the full application.
How soon can I pay it off?
Whenever you like. There is no prepayment penalty and interest accrues daily on the outstanding balance, so an extra payment in month six reduces what you owe for every month after it.
See your rate in about two minutes
No impact to your credit score, no obligation, and no origination fee if you decide to move forward.