It is important to note that all loans in Loanosity are made by Cross River Bank, a New Jersey-chartered commercial bank. A debt consolidation loan is one of the products offered by the lending platform. The company advertises its services on the website

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Summary of Loanosity

Several personal lenders are available, each with its own set of terms and conditions. But when you need a loan, it can be difficult to know where to turn. The Loanosity option has recently received a great deal of attention. But is this lender the right choice for you? Take a closer look so that you can make an informed decision.

Recently, we examined the Loanosity website and terms and conditions. There was quite a bit of interest in what we discovered.

Some of the things we found interesting are listed below.

  • Cross River Bank makes loans, a commercial bank chartered in New Jersey.
  •  There is a range of fixed rates between 20.77% and 23.62% APR.
  • Loan terms of 24, 36, or 48 months are available for debt consolidation loans ranging from $5,000 to $30,000.
  • There is no guarantee that all applicants will qualify for the lowest rate.
  • In general, loan origination fees range from 5.90% to 6.90% of the loan amount.
  • Your information will be provided to the lender by Loanosity. A loan application is not guaranteed to be approved.

Loanosity: What Is It?

Using Loanosity, you can find the best loan to fit your needs. To provide you with the best terms and rates, they work closely with Cross River Bank. Located in Miami, FL, the company has been in business for a year and can be contacted via email at [email protected] or by phone at (800) 997-1670.

The BBB has rated Loanosity A and the company has been accredited since 6/10/2022. There are no reviews or complaints about the company. Unfortunately, we were unable to locate a Trustpilot account.

How Does This Company Work?

Loanosity loans are personal loans that do not require collateral. As a result, you are not required to put up any assets as collateral, such as your home or automobile.

A loan agreement will be provided to you once your loan application has been reviewed and approved. You will receive this document electronically for signature. Generally, your loan funds will be available within a few days of receiving confirmation of your signature.

Your loan terms will be determined by the amount you request, your credit score, and your history, as well as the way you plan to use the loan. Before finalizing any loan agreement, they will verify your credit history.

Conditions and limitations may apply, and loans are not available in all states.

How To Qualify For Loanosity

To qualify for a Loanosity personal loan, applicants must meet the following requirements:

  • Having reached the age of majority in their state and being able to enter into binding agreements
  • In the next 90 days, you must be employed, have sufficient income from other sources, or have an offer of employment
  • You must meet their underwriting criteria, which consider factors such as your credit score and monthly income versus expenses.

It is important to understand that getting approved for a loan does not guarantee you will receive the best rates and terms. Depending on your creditworthiness, the term of the loan, and other factors, you may be offered a variety of rates and terms.

BBB Reviews

Loanosity is an accredited business with an A rating from the Better Business Bureau. The company has been accredited since 6/10/2022 and has received no reviews or complaints. Unfortunately, we were unable to locate an account for them on Trustpilot.

Frequently Asked Questions

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How Much Does Loanosity Charge?

With an APR ranging from 20.77% to 23.62%, Loanosity offers loans up to 30,000. Depending on the amount of the loan, the origination fee ranges from 5.90% to 6.90%.

Based on the above example, assuming a $10,000 debt consolidation personal loan with a 4-year repayment term and a fixed interest rate between 20.77% and 23.62% APR, monthly payments would range from $492.17 to $497.46, totaling $23,624.16 to $23,878.08 over 48 months.

Is There Any Pre-Payment Penalty?

When it comes to Loanosity, if you decide to pay off your loan faster than originally scheduled, there are no prepayment penalties.

How Does It Affect Your Credit?

To provide you with an idea of the interest rates and loan terms you may qualify for, lenders will often do a soft credit pull when you are considering taking out a loan. There is no impact on your credit score as a result of this.

However, if you decide to proceed with the loan application, they will perform a hard credit inquiry to obtain a comprehensive view of your credit history and determine your final interest rate. It is common for your credit score to be affected by these hard inquiries when you apply for loans.

How To Cancel Loanosity?

A personal loan application is a significant decision. It is not possible to cancel or reverse a transaction once you have been approved and the funds have been dispersed into your bank account. Make sure you are certain of your decision before applying. By doing so, you will be able to avoid any cancellations or changes in the future.

Is it difficult for you to make ends meet? Here are some suggestions that may assist you in getting back on track.

  • Staying on track is easy when you create and stick to a budget.
  • An advisor can also help you understand your options and develop an appropriate plan based on your situation.
  • Finally, if you are already in debt, please do not worry too much about it. It is not uncommon for companies to work with their customers to create a more manageable payment plan. If you want to learn more, contact their customer service team.

Loanosity: Is It Legit Or A Scam?

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Cross River Bank is the parent company of Loanosity, which is a lending platform. The company has an A rating with the BBB, but there are no reviews or complaints about it on the internet. Due to this, it is difficult to determine if they are good to their customers.

If you are considering taking out a loan, it is important to explore all your options and compare rates. Before making a decision, take the time to read customer reviews to make an informed decision. By doing this, you can avoid taking out a loan you can’t afford.

  • Loanosity


Cross River Bank is the parent company of Loanosity, which is a lending platform. The company has an A rating with the BBB, but there are no reviews or complaints about it on the internet. Due to this, it is difficult to determine if they are good to their customers.

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