Here are some common Lifestyle Loan questions
What is a lifestyle loan?
A lifestyle loan is money borrowed to meet expenses without putting down collateral. The interest rate you pay is based upon your credit score and you pay the money back in fixed installments.
What would I use it for?
Here are only a few reasons people apply for a lifestyle loan.
- Debt Consolidation
- Medical Expenses
- Home Improvement
- Education Expenses
- Storm Shelters
- Holiday Shopping
How can I use a lifestyle loan to consolidate credit card debt?
A lifestyle loan allows you to consolidate multiple debts into one fixed, monthly payment. Plus, a lifestyle loan with OKCU may give you a lower interest rate on your debt and help you pay it off faster.
Is it a secured loan?
No. A lifestyle loan is an unsecured loan because it is obtained without the use of collateral.
How long does it take to receive funds?
You could receive your lifestyle loan funds as quick as the same day you apply.
What is a payday loan?
A payday loan is a short-term loan that allows you to borrow funds from your next paycheck.