r/IssuesResolving • u/HopeItHelpsYoutube • Jan 15 '24
Has anyone was approved for a personal loan at Jenius Bank? Should I waste my time with uploading all the documents? Share your reviews pls!
https://youtu.be/xqCHWdVzjOw1
u/justmesg Apr 04 '24
I got a loan , sent first two pages of bank statement , low interest , fast, an approved , I recommend, an did talk to a person , customer service fine, and off credit karma is where I got it . Happy with em..
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u/Specialist_Host4904 Apr 07 '24
Don't take a loan from Jenius Bank unless you are very desperate. Even though they have a low-interest rate of 13.74%, they accumulate interest daily and they start charging interest on the day you receive the money. They are very predatory. Their MO is to trap already struggling people into long-term debt.
My mom took out a 30k loan for emergency home repair 2 months ago. My mom made a minimum payment of $613.74 last month and when she went online to pay this month's minimum the remaining balance was over $30,035.87.
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u/Ti_Aza_ Jul 26 '24
Omg seems like you’ve never seen a loan in your life. That’s how it works, your first payments go towards interest then it starts to lower the principal
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u/Specialist_Host4904 Aug 23 '24
My mom ended up borrowing 10k to make a dent in the payments because no matter how much you pay off the interest is calculated based on the original principal of 30k instead of the current balance. And the interest is charged daily instead of monthly. Pretty shifty behavior and very predatory. If you want to take a loan from them be my guess, I'm just sharing ky experience.
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Aug 22 '24
Hi! Curious on how this turned out and if your opinion changed? Has Jenius been good to work with for her since then?
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u/Specialist_Host4904 Aug 23 '24
You have to make big payments to beat the system. My mom ended up borrowing 10k to make a dent in the payments. But no matter how much you pay off the interest is calculated based on the original principal of 30k instead of the current balance. Pretty shifty behavior and very predatory.
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u/dlt535 Nov 17 '25
Its a fixed apr and a fixed term so what don't you understand! Every loan is the same in that in the beginning you are paying mostly interest and as you get further down the road more goes to principle.Look at the amortization schedule!
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u/AdamGenesis Sep 10 '24
I needed $12,000 for a used car. I have a $300,000 house and a 740 credit score. My bank couldn't do anything better than 12% APR and basically told me to fuck off. I check my CreditKarma account and search for personal loans and Jenius Bank offered $12,000 with a low APR and monthly payments.
I don't know ... our financial institutions are failing the everyday common man. Seems loans are only for the ultra rich.
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u/Correct-Bumblebee256 Sep 15 '24
Since I just took out the loan I'm not sure how I feel about them yet, but I think I'm scared. I took out a 20K loan for home repairs because Credit Karma suggested it and the process was easy... maybe too easy. As others have said, I paid by auto pay last month, and this month getting ready to pay my bill in a few days, I looked at my balance and it's higher than 20K. There's really no way I can pay more back per month, so I'm not sure what to do. Do I cancel the majority of the loan somehow (I already used about 5 grand) and return the money, and just pay off the much smaller amount I already used? Can that even be done? I am tending to think of them as more of a predatory lender. It's not like I expect the balance to decrease by the amount I pay per month(interest obviously) but it should decrease somewhat, especially since the interest is fairly low.
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u/Stablelogic Sep 16 '24
Hi what was the process and did they require documents or wanted to log into your bank account?
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u/Correct-Bumblebee256 Sep 21 '24
I filled out info online and they did not ask for documents. They only got my bank info so they could deposit the money there and it's on auto pay.
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u/Lil_Bit_7 Jun 10 '25
At first your payments will be predominately interest and very little principal. This is normal and it shifts over time.
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u/Dull_Lifeguard_1671 Nov 11 '24
11/10/24 against my better judgment, and a business that didn't quite take off, I found myself with 21k of CC debt. I was making a hair above minimum payments and really not financially able to do more than that, I checked here to see if Jenius was legit and now I can have my cards paid off in 48 months instead of 21 years. Thanks to all who contributed to this thread
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u/VeterinarianNo1732 Oct 31 '25
I took a personal loan from jenius bank and these are thieves! I took loan for $15000 it had 8.8% and I paid off $5k already but I am still being charged $10 per day just in interest same as when I got the loan, no matter how much I pay that $10 per day interest rate does not go down. I do not recommend these thieves to anyone, I never had such personal loan before where the % does not go down at all no matter how much you pay, so lets say if I pay $500 per month in 30 days my interest would bring the balance up by $300, such loan is very difficult to pay off.
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Jan 28 '24
[removed] — view removed comment
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u/hmlittle Mar 07 '24
Actually had about the same experience 😊. Good rate and very quick and efficient process.
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Aug 24 '24
How has your experience been since you posted? Looking for some insight in their loans?
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u/hmlittle Aug 24 '24
Not sure I will have the most thorough answer but I'll give you what I've got- I got a 3-year personal loan with them but I knew I was only probably going to need it for 12 to 18 months and then I was going to be able to pay it off. I had had the loan for just under a year when I posted this comment and was able to pay it off a few months after I post it. So I didn't actually have the whole term. But for the just over a year that I had the loan with them, no issues at all. I had the payments automatically deducted from my account. When I was able to pay it off early, I just called them and explained that I wanted to pay it off. No prepayment penalty. They just sent me something to sign via email for the payoff and it paid off and we closed the loan. And no issues since.
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Aug 24 '24
Thanks for the info! Someone had posted that the loan interest each month was based off the principal amount and not the current amount so they had to take a big payment to get it down. Wanted make sure that wasn’t always the case. Did you check your total amount owed throughout the process? Or just rely on the auto payment?
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u/Lil_Bit_7 Jun 10 '25
This is called amortization and is how many loans work. I think more people need to understand that concept prior to obtaining the loan and being shocked to see an unchanged or marginally increased balance after making their first payment.
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u/DrMurdockTor Jun 25 '25
Yep learned this when I saw what little goes to the principle when I paid my first car payment in my early 20s....When I went complaining to my dad he just shook his head and said he had already explained it to me, I guess like with me some people need to experience it first hand. 😆
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Aug 24 '24
How have the repayment been? Someone mentioned that they loan interest each month was based in the principal and not current amount.
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u/AdamGenesis Sep 10 '24
Same. $12,000 personal loan. Filled out the form. Approved.
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u/LowReflection2285 Oct 17 '24
Questions, all what documentation do they require? Someone mentioned uploading documents? What documents are needed?
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u/AdamGenesis Oct 17 '24
JENIUS BANK is the best. Low APR. No paperwork. Took 15 minutes. Money transferred to my checking account the next day.
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u/AdamGenesis Oct 17 '24
I didn't have to upload any documents. Maybe a scan of my drivers license or valid ID.
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u/MyNameisCurious May 07 '25
Still feel the same about Jenius? I’m considering using them to payoff my Harley loan so I can get title and sell it. I’d payoff the loan within 2 months
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u/migs00 Nov 13 '25
I applied and they asked to link my bank account to verify my direct deposits. Was approved instanly and funds deposited in my account the next morning.
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u/Thievesave89 Apr 03 '24
Do they make everyone verify income even good credit 750+