The Finance Owl

Banks – Loans – Mortgages – Money



Capital OneAs one of the largest American consumer finance organizations, Capital One Bank offers numerous deposit and loans products to individuals. One such offering is the Capital One personal loan: this is an unsecured loan meaning that you do not need to use a property as collateral against the loan itself.

Capital One is a highly recognized brand in the consumer finance market. Hence, Capital One’s personal loans products inherit the properties of the brand… but what exactly do they offer to the consumer?

Capital One Personal Loan Product Details

Capital One aim to keep their personal loans simple and hassle free. Consequently, CapitalOne offers a simple rate that is fixed meaning that monthly payments are also fixed. Understanding how much a loan payment is going to cost each month may help you to manage your monthly budget more effectively.

You may use a Capital One unsecured loan to consolidate personal debts, pay for special events such as a wedding, fund college study as a mature student or revamp your home, and as the loan is unsecured you do not need to use an asset such as a property or other personally owned asset as collateral against the loan.

Unlike some other loan plans, Capital One unsecured personal loans do not incur any charges to the borrower above the interest charged on them. This means no fees for making an application for a Capital One loan, neither are there originating fees or costs upon closing the loan account.


At A Glance Loan Features

  • No early payment fees – paying your Capital One Personal Loan early will not incur penalty fees.
  • Flexibility – Capital One has designed a personal loan that comprises flexible payments and flexible terms.
  • Low rates – Rates are fixed giving you the security of knowing precisely how much you have to pay each month.
  • Convenience – You need only set up one payment schedule and all future payments will be made automatically.
  • Online loan account management – All personal loan customers have on-line access to account balances free of charge.

Applying for a Capital One Personal Loan

Making an application for a Capital One Personal Loan is a quick and easy procedure. You can apply on-line, via telephone or directly at your local Capital One branch. You need to identify the type of personal loan you are interested in, the loan amount you require and a payment term, and as with all applications for credit you will be asked to supply personal information details such as your income, social security number, co-applicant details, bank account details and monthly outgoings.

Once an application for your Capital One loan has been lodged you should be able to get an almost immediate response and if not you’re guaranteed an answer within 10 working days. If your application is successful and you receive a check but decide not to take the personal loan after all, the only thing you need to do is not cash the check: loan accounts are only activated if the loan check is cashed within 30 days of an approved personal loan application.

Eligibility for A Personal Unsecured Loan from CapitalOne

To be eligible for a Capital One personal loan you must be have a reliable credit history and (if you are an existing Capital One customer) you must not have defaulted on any Capital One account within the last 12 months. On top of this, you must also not have had a previous application for a Capital One Personal Loan declined with the last 3 months. Applicants are expected to be able to show proof of earnings to ensure they can meet the loan payments.