Splash Financial personal loans: 2025 review

Splash is best for flexible credit union loans nationwide

With no published credit score minimum, Splash may be a good choice for large loan amounts that typically require a good to excellent credit score to qualify. The company’s affiliations with small banks and credit unions may give you access to personal loan funds with terms between two and seven years and no prepayment penalties. You can pay your loan off quickly if your budget allows or choose a longer term with lower payments for higher amounts. You can calculate your monthly payments with a loan calculator to figure out which terms will work best.

Splash’s lowest advertised personal loan rate includes a 0.25 percent automatic payment discount. 

Splash personal loan purposes

Although Splash encourages users to consolidate debt with their funds, the higher loan limits may make it a good choice for major purchases like a boat or RV. The longer terms may give you lower payments for big renovation projects like putting in a pool or replacing your roof.

Splash Financial personal loans may not be used for business purposes, to cover post-secondary education costs (like college tuition), for short-term bridge financing or to fund anything illegal.

Where Splash stands out

• Wide loan amount limit range: Most personal loan limits are capped at $50,000, but Splash partners with lenders that give you up to $100,000 worth of borrowing power. Splash personal loans also work well for small loan needs, with some partners offering amounts as small as $1,000. That may come in handy for emergency home or car repairs. 
• Flexible loan terms: Splash lenders offer terms between two and seven years, which gives you more options to choose a repayment period that fits your budget.
• Available nationwide: Lending partners are connected to Splash nationwide to give customers a wide variety of personal loan options regardless of where they live. 

Where Splash falls short

• High APRs: Splash’s rate maximum is 35.99 percent, making it an expensive option for borrowers with bad credit. Its lowest rate is 8.99%, which is competitive but not the lowest currently available.
• No app available: Splash doesn’t offer an app for tracking your account. Everything must be done online. 
• Unknown eligibility requirements: The company’s website doesn’t provide much information about the credit scores or income needed for approval. Requirements likely vary based on what’s available at the credit unions and banks you’re matched with. 
• Potentially high origination fees: Lenders in Splash’s network charge origination fees of up to 12 percent — tied with Upstart for the highest fees among lenders Bankrate has reviewed.

How this lender compares

Splash vs. LightStream

Both companies offer loan amounts as high as $100,000, but Splash is better if you need less than LightStream’s $5,000 minimum. You’ll also need at least a 695 credit score to qualify for a LightStream personal loan, while Splash doesn’t specify a minimum credit score.

LightStream offers much lower rates to qualified borrowers. Its lowest rates clock in at 2.5 percent points below the lowest rates Splash advertises. Its maximum rate is also about 10 percentage points lower than Splash’s 35.99 percent cap.

Splash vs. SoFi

Splash and SoFi both offer personal loans up to $100,000 for well-qualified borrowers, but Splash is better if you need less than $5,000. Splash does not publish a minimum credit score, and SoFi has 300 as a minimum score, so it might be worth it to prequalify with both if you have a lower credit score. However, SoFi’s maximum rates are significantly lower than what you may receive with Splash.

Do you qualify for a Splash personal loan?

Splash lists only basic requirements for qualifying with their partner lenders. 

• Proof you have a checking or savings account
• Pay stubs and other proof of income
• A valid ID
• The reason you want the loan

Depending on the bank or credit union you’re matched with, additional requirements may apply. 

How Bankrate rates Splash