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Ally Financial Personal Loan Calculator & Overview

Updated 19 August 2023

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Ally Financial started out as General Motors Acceptance Corporation (GMAC) in 1919. Today, it is considered one of the largest banks in the United States by assets. Ally Financial offers personal loans through its Ally Lending division.

Can I afford an Ally Lending personal loan? Use the Ally Financial personal loans calculator to input your desired loan amount. Moreover, use it to determine the estimated repayment terms within your budget.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

An overview of Ally Financial personal loans

Ally Financial does not offer personal loans directly to consumers. Instead, it provides loans through a network of partners. These include health care providers and home improvement centers. You can also apply through automotive dealerships and retail platforms.

Ally Financial personal loan features

Here are the details you need to know about an Ally Financial personal loan:

Loan amounts: $1,000 to $20,000
Repayment terms: between 12 months and 60 months
Monthly installments
No application or origination fees
Simple online application process

Ally Lending loan requirements

To apply for a personal loan, you have to go through an authorized Ally Financial partner. You will likely need to meet the following criteria:

Be 21 years old or older
Be a permanent US resident
Have a permanent source of income from work or investments
Have a good credit history
Go through a participating Ally Bank partner

Ally Financial personal loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

Change

Ally Financial personal loans

Estimated Month Repayments

$837 Inclusive of fees

Interest Rate

28.90%
APR

Repayment Period

12 months
to 60 months

Loan Amounts

$1,000
to $20,000

Go to site

We work with your Ally Lending health care provider to offer affordable financing solutions. Ally Lending helps you pay for the products and services you need, while also staying on track with your long-term financial health.

Featured

Wells Fargo personal loans

Estimated Month Repayments

$606 Inclusive of fees

Interest Rate

5.74%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$3,000
to $10,000

Go to site

Checking and savings accounts and credit cards for your everyday business expenses and cash management.

Featured

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments

$848 Inclusive of fees

Interest Rate

29.90%
APR

Repayment Period

12 months
to 12 months

Loan Amounts

$1,000
to $20,000

Go to site

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

Pros and cons of Ally Financial personal loans

Pros

No application or origination fees
Prequalify without credit impact
No early prepayment penalties

Cons

Loans are not directly available to individual clients
No APR range disclosed
No discounts from automatic payments

Frequently asked questions

What kind of personal loan services does Ally Lending offer?

Ally Lending offers personal loans through its participating partners. Unfortunately, it does not provide personal loans directly to consumers.

Do I need collateral when applying for an Ally Financial personal loan?

No, you don’t need collateral when taking out a personal loan at Ally Financial.

How long does it take for Ally Lending to approve a personal loan?

Your provider will be the one to tell you how quickly you can receive your money in your account.

What is the required minimum credit score to be eligible for Ally loans?

Ally does not reveal the required minimum credit score for loan eligibility. Talk to the service providers to find out how your credit history will affect your loan application.

Is there a mobile app for Ally Lending?

Yes. Ally Lending has a mobile app that you can install on your smartphone. This makes it easy to manage your finances and make payments.

Are there application or origination fees when applying for a personal loan?

No, you won’t pay any application or origination fees when taking out an Ally loan.

Does Ally Financial permit co-signers?

No, Ally Financial doesn’t allow co-signers when applying for a personal loan.

Ally Financial Personal Loan Calculator & Overview