Rating Methodologies for Personal Loans

SimpleMoneyLyfe’s overall ratings for personal loans and loans are evaluated against seven major factors.

SimpleMoneyLyfe Strict Personal Loan Rating Methodology

We Uphold Strict Editorial Standards to Ensure the Integrity & Honesty of Our Personal Loan Reviews.

The Personal Loan Lender Review Process

SimpleMoneyLyfe reviews over 40+ personal loan providers, marketplaces, and payday lenders. It is important to note that we do not recommend payday loans. Instead, we provide consumers with safe and reputable alternatives.

Religiously Collect Information

Our team of personal loan experts scours publicly available information on the lender’s website to kick off the review process. We then fact-check all the collected information and conduct expert interviews to craft our review if necessary.

Apart from this, our team also reads customer reviews on trusted third-party websites, such as Trustpilot, Google Reviews, and the Better Business Bureau. This helps our analyst paint a clear picture of the lender’s reputation and customer experience.

Content Updates

Our personal loan team maintains contact with the lenders we reviewed throughout the year. We periodically update our personal loan coverage to reflect rate changes, new feature offerings, and fee increases/decreases. You can rest easy knowing our data is accurate, relevant, and trustworthy.

Personal Loan Product Review Team

Our team of personal loan analysts, editors, and writers adheres to SimpleMoneyLyfe’s no-nonsense editorial guidelines. Our commitment to impartial, accurate reviews and financial coverage is why our reporting has been featured on CNBS, US News & World Report, Readers Digest, MarketWatch, Business Insider, and countless other trustworthy news sources.