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60MonthLoans Reviews: Expert Analysis & User Insights for 2023

60MonthLoans offers personal loans for bad credit that are safer than payday or title loans. If you can’t qualify for other types of financing, 60MonthLoans is one option you can consider in an emergency.

60MonthLoans Review
No Min. Credit Score Required
Loan Amount $2,600 to $10,000
Loan Repayment 24 to 60 months
Lindsay Frankel
Written by:Lindsay Frankel
Personal Finance Expert

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Expert Reviewer Verdict

While 60MonthLoans charges much higher interest rates than other online lenders, the flexible terms make for manageable repayment. You can use a personal loan from 60MonthLoans for home repairs, emergency expenses, medical bills, and more. What’s more, a hard credit check isn’t required to apply. We’ll go over everything you need to know about the rates, terms, and eligibility requirements in our 60MonthLoans review, so you can decide if the lender is right for you.


60MonthLoans Reviews - What People Are Saying

60MonthLoans gained an average rating of 4.6 stars on Trustpilot with over 420 reviews. Customer reviewers had mostly positive comments about the loan process, terms, and funding speed as well. 

For example, one customer wrote: “I had a great experience with 60loans. The approval process was easy and I got a very detailed breakdown from the person helping me, not to mention the detailed contract sent and explained before I signed it. I had my money the next business day and a reasonable payment plan. Thanks for the help in my time of need!”

Most complaints were from customers who were either denied or approved for a smaller loan than they pre-qualified for

For example, one customer wrote: “It is a switch and bait. Not a great loan shark if you’d ask me. I was prequalified for $7k but only ended up getting a $2k loan.” 

Others complained about the high interest rates, and a few customers said they had difficulty reaching customer service.

The positive reviews are related toThe negative reviews are related to
Quick and easy application processHigh interest rates
Favorable termsApplication denials
Fast fundingAccessibility of customer service

Summarized Rating

This parameter considers loan term lengths, loan minimums and maximums, and the extent of loan use limitations. Each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

60 Month Loans gets a subpar 2.3 for Loan Features. This reflects the lender’s average term lengths and somewhat restrictive loan limits.

60MonthLoans Pros and Cons

60MonthLoans Pros
Flexible terms up to five years
No hard credit check required
No collateral required
No prepayment penalties
Excellent customer service reviews
Reports payments to credit bureaus
60MonthLoans Cons
Charges an origination fee
$2,600 minimum loan amount
High interest rates in some states
Only available in 16 states
No co-signers allowed

Types of Personal Loans Offered by 60MonthLoans

60MonthLoans doesn’t specifically state any prohibited uses for its personal loans for bad credit, but most lenders won’t allow you to use a loan for illegal activity. Commonly, borrowers turn to 60MonthLoans when they face urgent expenses.

Common loan usesProhibited uses
Car repairs 
Home repairs 
Moving expenses 
Medical bills 
Credit card consolidation
Illegal activity

If using a 60MonthLoans personal loan for debt consolidation, make sure the APR you are given is lower than your current credit card APRs.

60MonthLoans Loan Features

You can borrow between $2,600 and $10,000 from 60MonthLoans. Loan terms vary by state and loan amount, but range from 24 to 60 months. In some states, you won’t get a choice of term — for example, in California, all loans issued have a term of 36 months. There’s no period of deferment, so you’ll begin making payments on your loan the month after you receive the funds. You can use the money for almost anything.

Loan terms24 to 60 months
Repayment periodImmediate
Loan amount$2,600 to $10,000
Loan Use Limitations None

60MonthLoans Interest Rates and Fees

Interest rates on bad credit loans are typically high, and 60MonthLoans is no exception. In some states, they range from 19% to 36%, but in other states, they can be as high as 69.5%. 60MonthLoans charges an origination fee, but it will be no more than 5% of the loan amount. You won’t have to worry about other fees, including prepayment penalties. To ensure you get the lowest rate available to you, you should check your state rate for your desired loan amount and compare it to other similar lenders, such as OppLoans.

Borrowing/Origination FeesUp to 5% of the loan amount
Prepayment FeesNone
Late Payment FeesNone
Other feesNone
Interest Rates19% to 69.5%

60MonthLoans Qualification Requirements

To get a loan from 60MonthLoans, you must be a resident of one of the states the lender serves. You’ll also need to be 18 and have a bank account, but there are few other requirements. 60MonthLoans doesn’t disclose a minimum income, and a hard credit check isn’t used. The lender does not allow you to apply with a co-signer or joint applicant, however.

Membership RequirementNone
Minimum Credit ScoreNone
Income RequirementsNone
Co-signer/Joint Application RequirementsNo co-signers or joint applicants

60MonthLoans Application Process

The application for 60MonthLoans is entirely online, mobile-friendly, and takes 5-10 minutes to complete. The first step is to enter your contact information and consent to electronic communications from 60MonthLoans.

You’ll also need your social security number handy. Once you submit your application, 60MonthLoans will request three months of bank statements, either submitted by PDF over email or through instant bank verification. 60MonthLoans will then take one to two business days to review your application, and the underwriter may call you with additional questions.

After you are given an offer, you’ll review and sign your loan documents. If you do this before 4:30pm CT, you’ll receive your funds the next business day. Offers accepted after 4:30 will be pushed back another business day.

60MonthLoans Customer Support

You can reach 60MonthLoans by phone at 844-707-7300, but customer service hours are limited. 60MonthLoans is open weekdays between 9am and 5pm PST and Saturday between 10am and 5pm PST. You can also email the lender at However, there’s no live chat. Keep in mind that if you want to schedule extra payments, you’ll need to call or email at least three days before your scheduled payment, so make sure these customer service hours will be convenient for you.

If customer service reviews for 60MonthLoans on Trustpilot are any indication, you’ll get great service when you call customer support. Some reviewers even mentioned their support representative by name.

For example, one customer wrote: “Irina was very helpful (and very quick) to assist me with getting the payoff statements that I needed. She made sure I knew the address to send the payment to and my loan number so that the payment can be processed quickly and accurately. Irina was very friendly and I am very happy she is the one that took my call today.”

Another customer wrote, “I needed to defer some payments and Ashley was very helpful and understanding of my situation. She explained everything clearly and was very pleasant to work with.”

60MonthLoans Perks and Bonuses

60MonthLoans isn’t as flexible with payments as some other lenders. The lender doesn’t offer any formal deferment or forbearance programs, and you can’t modify your loan terms. However, customer reviews indicate that 60MonthLoans is willing to work with individuals going through times of hardship on a case-by-case basis.


While the 60MonthLoans website is not misleading, it could be more transparent. The FAQ section is limited and there are no educational resources for borrowers. We weren’t able to find certain information, such as how a customer can make payments.


Customer service reviews indicate that you can enroll in automatic payments, but the 60MonthLoans site isn’t clear about whether you can manage your loan through an online portal. There’s also no mobile app or live chat support. And you need to call or email to make extra payments or pay off your loan early, which is a bit antiquated compared to other lenders in the industry.

60MonthLoans Compared to Other Lenders

Loan Terms24 to 60 months9 to 18 months36 or 60 months
Loan amount$2,600 to $10,000$500 to $4,000$1,000 to $50,000
Interest Rates19% to 69.5%59% to 160%5.99% to 35.99%
Min Credit ScoreNoneNone300
Co-signer RequirementNo co-signers allowedNo co-signers allowedNo co-signers allowed

Final Thoughts

60MonthLoans makes its determinations based on bank statements, so poor and fair credit borrowers can qualify. However, 60MonthLoans charges high interest rates on its bad credit loans, so you should only consider applying if you’ve exhausted other options. For example, you might try prequalifying with a fair credit lender like Upstart, applying with a co-signer at a lender that allows it, or applying for a secured product like an auto equity loan. If none of those options meet your needs, then 60MonthLoans is a safer alternative than taking out a payday loan in an emergency.

But because 60MonthLoans doesn’t offer financial education, you should use other resources to educate yourself about credit. A good place to start might be the FDIC’s Money Smart program or the CFPB’s educational tools. Competing lender OppLoans also offers a variety of resources through its OppU Hub

Lindsay Frankel

Lindsay Frankel

Personal Finance Expert

Personal finance expert with 3 years experience specializing in researching, writing, and editing insurance, loans, and credit cards content

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