Some banks offer personal loans only to their existing customers. Others will accept loan applications from anyone. Banks typically require a borrower to have good or excellent credit (690 or higher FICO), multiple years of credit history and a low debt-to-income ratio to take out a personal loan.
What are the advantages of a payday loan? The biggest advantage to payday loans is the quick and convenient access they offer. You can apply quickly online for a payday loan. Processing is fast – within minutes of being accepted for a loan, the money lands in your bank account.