usbank.com How to Apply for a Simple Loan Online? : U.S. Bank

Organisation : U.S. Bank
Facility Name : How to Apply for a Simple Loan Online?
State/Province : All States
Country : United States of America (USA)
Website : https://www.usbank.com/loans-credit-lines/personal-loans-and-lines-of-credit/simple-loan.html

How to Apply for a Simple Loan Online?

Our application process is fast and easy.
Step 1: Log in.
If you’re at least 18 years old, you can start your application by logging in to and accessing the Simple Loan application link on the checking account page.

Step 2: Apply.
When you’re ready to apply, you’ll need:
** A current U.S. Bank personal checking account that has been open for a minimum of six months with three months of recurring direct deposits
** A Social Security number (SSN)
** Once you submit your application, we’ll gather your credit information.
How long does it take for a loan to process?
Typically, we notify you with your loan approval status in less than a minute.

Step 3: Close on your loan.
If your loan is approved, funds are available within minutes. You can close on your loan online and access the funds from your U.S. Bank checking account.

How to Start a Simple Loan application?

Please be aware, a Simple Loan application is only available if you’re eligible to apply. Your application will then be reviewed and considered for eligibility almost immediately.

Starting a Simple Loan application using Online banking :
1. Select Products & offers, then choose Loans & credit lines.
2. Select Discover your options found in the “Personal loans” section, then choose Simple Loan.
3. Review the details and benefits. Then choose Log in and apply.
4. Review your personal information, then select Confirm & continue to proceed through the application.
** If you’re already logged in, your information will automatically populate.
** If your information doesn’t populate, enter it manually.

Starting a Simple Loan application in the U.S. Bank Mobile App :
** Open the main menu and choose Explore accounts & offers.
** Select Loans & credit lines, then choose U.S. Bank Simple Loan.
** Review the details and benefits, then choose Yes, continue with my application to proceed.

For application questions, call us at 800-872-2657. We accept relay calls.
Hours of operation are as follows:
** Monday through Friday from 7 a.m. to 10 p.m. CT.
** Saturdays from 9 a.m. through 5 p.m. CT.

U.S. Bank Simple Loan Details & Benefits

Simple Loan is a quick and convenient way for U.S. Bank personal checking customers to borrow up to $1,000 to take care of life’s planned or unplanned expenses.

Fixed rates and three monthly payments :
Borrow up to $1,000 in $100 increments with a fixed rate for every $100 you borrow. Then, repay the loan in three monthly payments.

Quick access to funds :
Apply anytime in the app or in online banking, with a real-time decision and funds deposited directly into your U.S. Bank personal checking account.

No unexpected costs :
There are no missed payment fees, non-sufficient funds fees or late payment fees on a Simple Loan.

Easy application process :
To get started, simply log in to mobile or online banking and select the Simple Loan application from your checking account menu.

FAQ on U.S. Bank Simple Loan

When is the first payment due on my Simple Loan?
Your first payment will be due no sooner than 30 days after your loan is approved. Your next two monthly payments will be due on that same day of the month.

How do I make payments?
If you choose automatic payments for your Simple Loan, the minimum amount due will be automatically deducted from your checking account on the day it’s due. To make manual payments you can log in to mobile or online banking, visit a branch, call us at or mail a check to the address on your statement.

Can I pay off my Simple Loan early?
Yes, you can pay off your loan faster by paying more than the minimum amount due, but it won’t reduce the fees you owe. There’s no pre-payment penalty for paying the loan off early.

Will I be charged fees if I miss a payment or make a late payment?
No. Because a Simple Loan involves a fixed price for every $100 you borrow, there are no missed payment fees, non-sufficient funds fees or late payment fees on a Simple Loan.

When will the money for my Simple Loan be deposited into my checking account? 
After your loan is approved and booked, you can access the funds in your U.S. Bank checking account immediately. Funds deposited into your account after 8 p.m. CT will be available for withdrawal, but won’t display in your account until the next business day.

What if I need less than $100?
A Simple Loan is a minimum of $100 and maximum of $1,000.

When can I apply for another Simple Loan? 
You can apply for another Simple Loan 30 days after you’ve paid off your previous Simple Loan.