Yusra3
VIP Contributor
Axos Bank and Happy Money are two very different online lenders when it comes to personal loans. Axos is a direct lender that offers unsecured personal loans from $5,000 to $35,000 with APRs ranging from 7.99% to 24.99% for excellent credit borrowers. They have no origination fees or prepayment penalties.
In contrast, Happy Money is a peer-to-peer lending platform that facilitates personal loans from $5,000 up to $40,000 funded by individual investors. Their APRs span from 7.99% to 29.99% and they charge origination fees from 0% to 5%. Happy Money caters to those with credit scores as low as 640.
For consumers with prime credit scores above 720, Axos likely provides lower APRs and no fees, making them more affordable. However, Happy Money offers higher loan maximums and easier approval for those with less-than-perfect credit histories. The better choice depends on your credit profile, desired loan amount, and whether you prioritize a traditional bank loan or investor-funded P2P lending.
In contrast, Happy Money is a peer-to-peer lending platform that facilitates personal loans from $5,000 up to $40,000 funded by individual investors. Their APRs span from 7.99% to 29.99% and they charge origination fees from 0% to 5%. Happy Money caters to those with credit scores as low as 640.
For consumers with prime credit scores above 720, Axos likely provides lower APRs and no fees, making them more affordable. However, Happy Money offers higher loan maximums and easier approval for those with less-than-perfect credit histories. The better choice depends on your credit profile, desired loan amount, and whether you prioritize a traditional bank loan or investor-funded P2P lending.
