Bank of America Personal Loans for Bad Credit

Personal loans offered by one of the biggest national lenders – Bank of America – have been initiated to solve numerous financial issues.

Personal loan rates are claimed to be extremely competitive.

However, it is also claimed to be problematic to receive an unsecured category of loans as soon as it is the one with high risk rates.

That’s why most submitted applications may be unapproved as a lender requires additional information.

The customer should convince a lender that he/she can pay off the loan amount.

This additional check influences most customers whose credit score is identified as bad.

Bank of America personal loans require careful identification.

The bank tries not to get involved in requests that do not have anything valuable to cover the potential risk.

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Still, the situation is directly opposite with high credit score owners. They are offered the most agreeable interest rates and conditions to pay the bills, update home décor, etc.

Application Procedure

On the whole, getting BofA personal loans for bad credit is much like any other loan procedure, however, keep in mind some basic personal loan milestones:

  • the average time needed for application processing is a bit longer
  • clear and high credit score demand
  • only current bank customers are offered a simplified procedure
  • interest rate varies and depends on each caseBank of America Personal Loans for Bad Credit
  • this type of loan is not available online so you can apply in the office or by phone. You can easily check your loan status online without logging in
  • paperwork and long verification procedure
  • higher than secured loan rates
  • short borrowing period under loss mitigation department control

The rates of the loan differ from case to case. If an applicant meets all bank loan approval requirements, the rates are the lowest in the market.


Still a similar loan program has different rates for different applicants.

Solutions for Bad Credit Score Owners

Even though you might have been rejected because of a poor credit score, you may still consider effective alternatives and receive with bad credit.

Bank of America is not the only one trusted financial institution which offers borrowing options.

If you surf the Internet, you will find a large number of personal installment loans offers with low credit approval.

However, most of these offers belong to short-time loans with impressively high interest rates.

That’s why Bank of America proved to be a reliable and trustworthy lender.

As an alternative you can find useful clues on how to improve and transform your credit score from ‘bad’ to ‘good’ one with 720 and higher.

  1. Osvaldo Mendez says

    Having bad credit sucks though in most cases having it is partially the fault of borrowers. Being one of those I’m constantly looking for a way to borrow and quite often get a denial from banks. I’ve never thought such financial institutions as Bank of America do go for it and issue personal loans to people with bad credit history. I’ll try it and thanks for the hint, guys!

  2. Mark says

    I have bad credit issue. Please help me! What I can do with it?

    1. yuross says
  3. Audrey says

    The information on Bank of America personal loans turned out to be pretty useful for me as I have been long looking for details on applications and the way they deal with bad credit scores. Certainly, having got a reputation of an unreliable borrower, you won’t be able to ignore high interest rates. But no one is perfect and, as it turned out, they do understand it.

    1. Maryellen says

      I have really bad credit but need a loan of five hundred dollars I have a full time job been at my job twenty seven years can you help me

  4. jose torres says

    need a loan to buy a house i have money to put down

  5. Ms Tull says

    I’m trying and want to Apply for A Personal to catch up on my Rent I’m A Single Mother with 4children and a god daughter who lives with me.. I work at a hospital it makes ends meet for awhile and I’m great full for job but I PAY 900 on rent monthly and it isn’t easy I lost my kids father two yrs ago and it’s extremely hard alone 900 a month is steep on just one Person so I’m asking if you could tell me HOW WOULD AND I QUALIFY??

  6. jenatte says

    It would be nice if i get approved for this loan . It would be very helpful . I am a single mother of 2 and im in debt. I would really appreciate if you all would give me this loan to help me out .

  7. Levi says

    I need a small loan file so I can bunny phone number for call you guys

  8. Eddie says

    I’m 21 no credit no ssn I need a personal loan but can I even apply for one. Yes I work make about 1500 a month.

  9. Stanley o parson says

    I need a personal loan for final pay off mortgage $ 4000. I have low credit score 681 please can I get a loan ?

  10. Sally A James says

    I need me a personal loan asap

  11. Sherri says

    I just left Bank of America and was told that even with a clear title to a 2015 vehicle as collateral they do NOT do personal loans. Somebody is not being truthful

    1. Janeis Bordeaux says

      They dont have not for years since probably ’06

  12. Sheila Crawford says

    I have an account with bank of America and asked for a personal loan. And they turned me down. I have been with them for 18 years.

  13. Janeis Bordeaux says

    I am wandering wherr this information is coming from that bank of america offers personal loans. THEY DO NOT!!! maybe a hime loan heloc or credit card but no personal loans!!!!

    1. Janeis Bordeaux says

      *home loan

  14. Shawna says

    Wandering? Lol you mean wondering

  15. donna bowling says

    i am in need of a loan i want to pay off my car and credit cards so i have only one bill as i am trying to get into a place to live with my 2 grandchildren and i am in a abuseive situawation. i need $8,000

  16. Lisa Mickens says

    since I have been a customer with you for 10 years I really think I should be considered for a small loan of 1000 or 1500 even with bad credit. it would be taken out of my account every two weeks from my pay. I do receive direct deposit. I really need to pay 3 big bills that would help considerably, then I would only have you to pay. I have tried others but have been denied you are my last choice.

    Thank you

  17. krishnak says

    Good and valuable information has been given by you

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