Merrick Bank Personal Loan review: how does it work and is it good?

If you can’t afford another hard pull to your credit score, this lender will only do it when you say you’re ready. Check our Merrick Bank Personal Loan review and learn more!


by Danilo Pereira

05/16/2022 | Updated on 09/14/2022

Merrick Bank Personal Loan: no hard pulls until you’re ready, plus fast approval

merrick bank logo
 Learn everything you need to know about this personal loan. Source: The Mad Capitalist

In this Merrick Bank Personal Loan review you will learn whether this is the right loan for you, its pros and cons, and if you decide to get it we can show you how. Stick around!

How about not taking a huge blow to your credit score right from the get go? Merrick Bank will only make its hard pull on you when and if you decide to take the loan. Before that it will only run a soft inquiry which, if you decide not to move forward, will barely scratch your credit score.

Once you submit your application you can expect approval within a day or two, and loans range from $2,500 up to $12,000. Once you’ve been approved for the loan, your funds should show up in about a day or two.

Check out some important numbers for Merrick Bank’s offer.

Merrick Bank logo

How to apply for the Merrick Bank Personal Loan

This step-by-step guide will take you from zero to money in just a few simple steps.

APR27.99% – 35.99%
Loan PurposeNot specified
Loan Amounts$2,500 – $12,500
Credit Needed580
Terms36 months
Origination Fee5%
Late FeeN/A
Early Payoff PenaltyN/A

What is the Merrick Bank Personal Loan?

Merrick Bank is the perfect place for people with less than perfect credit scores. They provide an alternative to traditional banks that caters specifically towards this population of consumers, helping them get back on their feet and eventually buy homes or cars in some cases. They offer a range of financial products including personal loans with a 5% origination fee for people:

  • 18 or older
  • Requires proven income
  • With a Federal or State ID
  • With a bank account

Merrick Bank Personal Loan reports to all three major credit bureaus, so paying your balance on-time will help build a consistent history that is needed for good card offers or even better loans.


Is Merrick Bank Personal Loan good?

merrick bank logo
Pros and Cons: Which makes the most difference to you? Source: Adobe Stock

See the pros and cons of this loan next in our Merrick Bank Personal Loan review.



  • Fast application and approval process
  • No hard pulls until you say so
  • Accepts applicants with fair credit


  • Short loan range
  • Origination fee of 5%
  • 35.99% APR

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Does Merrick Bank Personal Loan check credit scores?

Merrick Bank Personal Loans are available to applicants with fair credit, and the minimum accepted score is 580. So credit requirements are not too high. But of course the closer you are towards excellence on your reportable information such as income or assets, the higher are your chances of being approved for this loan!

Want to get a Merrick Bank Personal Loan? We will help you!

Applying for this personal loan is a simple and straightforward process which takes only a few minutes to complete. Everything is done online through Merrick Bank’s website. If you’d like to know what you must have at hand when you decide to apply, as well as a step-by-step guide on how to do it, click the link below. We have everything ready for you there.

Merrick Bank logo

How to apply for the Merrick Bank Personal Loan

This step-by-step guide will take you from zero to money in just a few simple steps.

About the author  /  Danilo Pereira

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