LoanWinners Rating System - How We Rate Lenders

We are proud to present our meticulously developed scoring LoanWinners system. Its primary goal is to objectively review and compare multiple lenders’ personal loans and services across the net.
To make our rating methodology as helpful and efficient as possible, we developed a handful of unique comparison criteria. After evaluating and combining individual factors, we finally state the overall rating, which varies from 1 to 10.
Below, you’ll see a breakdown of the seven different scores and their grading criteria we take into account when reviewing. That way, you will always know what to expect from a lender after a glance at its LoanWinners Score.

Questions about our methodology?
Email David Vusi at

Interest Rates

Maximum APRs

Examining APRs is undoubtedly the most critical segment of our reviewing process. Hence, we always invest a lot of effort to make it as thorough as possible. Generally, any maximum APR below 18% is exceptionally low, while APRs above 40% get listed as a bad deal. In such a case, we usually advise you to look for a personal loan elsewhere.

Score 1 2 3 4 5 6 7 8 9 10
Max APR Over 42% 39.01% to 42% 36.01% to 39% 33.01% to 36% 30.01% to 33% 27.01% to 30% 24.01% to 27% 21.01% to 24% 18.01% to 21% Below 18%

Minimum APRs

We also consider minimum APRs, as some borrowers manage to obtain the lowest rates after approval. We think any APR around 5% to be exceptionally low and give it a 10 rating. In contrast, APRs higher than 19% hit the bad offer ceiling. Check the rating scheme for the lowest APRs below.
Score 1 2 3 4 5 6 7 8 9 10
Min APR Over 19% 17% to 18.99% 15% to 16.99% 13% to 14.99% 11% to 12.99% 9% to 10.99% 7% to 8.99% 5% to 6.99% 3% to 4.99% Around 3%

Do you wonder how we came up with these levels? Well, we always keep our eyes on the average interest rates for personal loans. These help us determine the average, which was 9.50% in Q2 of 2020 and build on from there.

Loan Repayment Term

The timeframe lenders give you to repay a loan is a very significant aspect that can sometimes prove to be out of your financial reach. Undoubtedly, the loan term always depends on the amount you’re taking and your repayment capacity. Here are our general guidelines on rating brief and more extended repayment periods.
Score 1 2 3 4 5 6 7 8 9 10
Months(m)/Years(y) < 3 m < 6 m 12 to 24 m 12 to 24 m 2 to 3 y 2 to 3 y 3 to 5 y 3 to 5 y 5 > y 5 > y

Of course, we go deeper when necessary. For instance, we know that the average repayment term for a new-car loan depends on the applicant’s credit score. So, we will always make sure to mention such details in our in-depth and honest lender reviews.

Loan Size

Maximum Loan Amount

In terms of the loan amount, we always consider both the minimum and the maximum approved sums. To illustrate this, we display the rating scheme for the full amount of a given loan. Of course, we provide the top scores to lenders who approve more generous loan sizes.
Score 1 2 3 4 5 6 7 8 9 10
Max Loan Ammount Under $2,000 $2,000 to $5,000 $5,001 to $7,500 $7,501 to $9,999 $10,000 to $14.999 $15,000 to $19.999 $20,000 to $34,999 $35,000 to $49,999 $50,000 to $74,999 $75,000+
The minimum loan amounts that lending companies offer are crucial for the borrowers, too. This is because a minimum amount of $5,000, for example, can be restrictively high for a troubled loan taker. Therefore, a minimum range of $500 to $2,000 is the most acceptable one for bad credit score applicants.

Customer Satisfaction

Customer reviews are not always abundant for a specific lender, and therefore, this category is optional. Yet, in case there are enough reliable reviews, we ensure to rate the satisfaction, too.
Score 1 2 3 4 5 6 7 8 9 10
Customer Satisfaction No customer service Poor customer service Subpar customer service Bearable customer service Acceptable customer service Average customer service Decent customer service Good customer service Excellent customer service Exceptional customer service


In the rating process, we give the highest score to those lenders who have several support channels at disposal. These companies tend to respond to clients’ requests more quickly and through various means, both offline and online.
Support Channels 1 2 3 4 5 6 7 8 9 10
Customer Satisfaction Only one support channel Only one support channel 2 support channels 2 support channels 3 support channels 3 support channels 4 support channels 4 support channels Over four support channels Over four support channels


When rating, we consider the four most common fees – late, origination, prepayment, and non-sufficient funds. Then, we penalize lenders in our review for each expense they charge clients. The rating procedure is as follows:
Support Channels 1 2 3 4 5 6 7 8 9 10
Fees Three or more payments (late, origination, prepayment, and non-sufficient funds) Three or more payments (late, origination, prepayment, and non-sufficient funds) Three fees (late, NSF, and origination fees) Three fees (late, NSF, and origination fees) Two fees (No origination fees, but NSF and late fees) Two fees (No origination fees, but NSF and late fees) One of the four fees One of the four fees No fees at all No fees at all

Approval And Turnout Time

We rate both the approval and turnout time under one category. The reaction time generally relates to the timing needed to receive the loan approval, plus money on your account. Though lenders tend to respond to applications within shorter timeframes, the turnaround period can be tricky. Here, we give one out of the five rating scores depending on the time needed for the money transfer to get completed.
Support Channels 1 2 3 4 5 6 7 8 9 10
Approval Time Over a week Over a week 5 to 7 business days 5 to 7 business days 3 to 5 business days 3 to 5 business days 1 to 2 business days 1 to 2 business days Same day transfers Same day transfers

Why do some companies have different scores on our pages?

The majority of brands take pride in a variety of financial solutions for a wide range of clients. Their products and services have different ratings because their offers get scored and compared with other lenders in the same category.

For each review, our editorial team:

  • Identifies seven measurable criteria to compare across each lender
  • Establishes the rating criteria for every aspect of the products and services of lenders
  • Calculates the average of the seven aspect scores to conclude a final LoanWinners Score

Just like you have a credit score based on various criteria, it’s fair that lending companies get rated, too. When we speak of rating, we don’t just focus on one or two segments of a lender’s business venture. We take a holistic stand and carefully examine all terms and conditions to offer our readers an all-inclusive review. The final score is an average of all features a lender has and can be favorable or unfavorable for the borrowers.

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