Short answer: no. Chase, the country’s largest bank, does not offer a traditional unsecured personal loan, the kind where you apply, get a lump sum deposited, and pay it back in fixed monthly installments. You can’t walk into a branch and apply for one, and there’s no personal loan application on chase.com.
But “no” isn’t the whole story, and it’s not where most people’s problem ends. If you have a Chase credit card, Chase may already be offering you something that behaves a lot like a personal loan, called My Chase Loan, with money in your checking account in a day or two and no application. It also sells a purchase installment plan, a home equity line, auto loans and business credit. Some of these are a smart fit. One of them, when we ran the numbers, works out to an effective cost in the mid-30s percent. This guide explains what Chase will actually lend you, what each option really costs compared with a regular personal loan, and where to go instead for your situation.
Seven Straight Answers Before You Borrow
The questions people ask a Chase banker, or a search bar, right before they need money. Short answers first.
Not a traditional one. Chase doesn’t offer unsecured personal installment loans to the public, whether you bank there or not. Branch staff can’t override that.
My Chase Loan. Eligible Chase cardholders can turn part of their available credit into a fixed-payment loan, starting at $500, deposited to a bank account in about one to two business days.
Chase says there’s no application and no credit check. But the balance sits on your card, so it raises your credit utilization, which can lower your score until you pay it down.
Sometimes, often not. One Chase card pricing sheet we reviewed listed My Chase Loan APRs of 19.24% to 27.49%. The Federal Reserve’s latest average for a 24-month bank personal loan was 11.86%.
It charges no interest but a fixed monthly fee of up to 1.72% of the amount. At that top fee, we calculated an effective cost of roughly 31% to 36% a year depending on the plan length.
Possibly, through a Chase home equity line of credit with lines from $35,000 to $400,000. Expect to draw most of the line at closing, so it isn’t built for small needs.
Almost certainly not. Chase doesn’t sell that product, and anyone asking for an upfront fee to release a loan is running a classic advance-fee scam. Hang up and call the number on the back of your card.
What Chase Actually Lends, Product by Product
Chase’s lending is built around things it can attach to an existing relationship or an asset: your credit card, your home, your car, your business. If you don’t fit one of those boxes, Chase simply won’t have a product for you.
| Product | Who can get it | Amounts | How you pay it back | Main catch |
|---|---|---|---|---|
| Personal loan | Not offered | — | — | Look elsewhere |
| My Chase Loan | Eligible Chase cardholders | From $500; max set by Chase | Fixed monthly payment on card statement, 6–24 months | Uses your credit limit; rate can be card-like |
| Pay Over Time | Cardholders, on purchases $100+ | Up to your offer | 3–24 months, fixed fee, no interest | Fee up to 1.72% a month; can’t cancel a plan |
| Card cash advance | Cardholders | Cash advance limit | Revolving | 5% or $10 fee plus a higher APR |
| Home equity line | Homeowners with equity | $35,000–$400,000 | Variable rate tied to prime | Most of the line drawn at closing; home is collateral |
| Auto loan | Buyers at Chase network dealers; refinancers | From $4,000 | Fixed installments | Car purchases only, not cash |
| Business line of credit | Business owners | $10,000–$500,000 | Revolving | Needs a real business with documents |
When we went through Chase’s site looking for a personal loan application, the dead end was clear: the “loans” paths lead to mortgages, home equity, auto financing and business lending, and the card section leads to My Chase Loan and Pay Over Time. There is no personal loan page to find. That matches what independent reviewers have reported for years, and nothing we found suggests a change is coming.
Why would the biggest U.S. bank skip a product that most of its rivals sell? Chase doesn’t explain it publicly. The practical effect is that Chase already earns interest on unsecured borrowing through its huge credit card business, and My Chase Loan lets it offer loan-like terms without opening a separate account. For you, the important part is that every Chase option for “I need $3,000 for something” runs through a credit card.
My Chase Loan: How It Works and Where It Bites
My Chase Loan is a feature on eligible Chase credit cards, not a separate loan account. You carve a fixed-payment loan out of your card’s unused credit, and Chase sends the money to your bank account.
Check whether you have an offer
Sign in to chase.com or the Chase Mobile app and look for My Chase Loan under your card. Not every card or cardmember is eligible, and the offer can appear, disappear and change from month to month. Chase says the amount you can borrow depends on things like your monthly spending and creditworthiness.
Pick an amount and a payment length
The minimum is $500. Chase shows your maximum each time you set one up. Independent reviews report terms of 6 to 24 months. The screen shows the APR and monthly payment before you accept; that’s the number to compare against outside offers.
Get the money in about 1 to 2 business days
Chase deposits the funds directly into a bank account. It says there’s no origination fee and no early payoff fee. The loan payment is added to your regular card bill, so you have one statement and one due date.
Remember what it does to your card
The loan uses part of your credit line. Your available credit shrinks by the loan amount, and your reported balance rises. That’s the hidden cost most people miss, and it’s covered right below.
The rate question
Chase markets My Chase Loan as having a lower rate than your card’s standard purchase APR, and on some accounts it offers promotional fixed rates. But one Chase card pricing sheet we pulled, dated when the prime rate was 6.75%, listed My Chase Loan APRs of 19.24% to 27.49%, the same band as that card’s purchase APR. The prime rate has since risen to 7.00% after the Federal Reserve’s September increase, and those variable figures move with it.
So the honest summary is: the rate depends entirely on the offer in your account. A promotional rate in the single digits can be excellent. A rate near 20% or above is roughly what you’d pay just carrying a card balance, and a borrower with strong credit can often beat it with a regular personal loan. The Federal Reserve’s latest figure for a 24-month personal loan at commercial banks was 11.86%.
There’s a second, quieter effect. While the loan is outstanding, your card has less room for everyday spending or a true emergency later. If your limit is modest, a large My Chase Loan can leave you one car repair away from maxing out the card, which hurts your score far more than the loan itself.
That chart is the reason we’d think twice before using My Chase Loan right before applying for a mortgage or auto loan. Scoring models weigh how much of your revolving credit you’re using, and a big jump can cost points until the balance comes down. An installment loan from another lender adds a new account and a hard inquiry, but it leaves your card utilization alone. If you’re months away from a major application, the utilization hit matters more than the inquiry.
Pay Over Time splits a card purchase of $100 or more, made in the last 90 days, into 3 to 24 monthly payments. There’s no interest; instead Chase charges a fixed monthly fee of up to 1.72% of the amount, set when the plan is created. You can have up to 10 plans, and a plan can’t be changed or canceled once it’s set up.
A flat monthly fee charged on the original amount is more expensive than it sounds, because you keep paying the full fee even as you pay the balance down. Our calculation at the top 1.72% fee works out to an effective annual rate of about 31% on a 3-month plan and about 36% on a 12-month plan. Your offered fee may be lower; check it before you accept.
Where Pay Over Time can make sense is a short plan with a low offered fee on a purchase you’d otherwise carry at your full card APR. Because Chase discloses the fee as “up to” 1.72%, some offers come in lower. The fee appears on screen before you confirm, so do the math in that moment rather than assuming “no interest” means cheap.
What Borrowing $2,000 Really Costs, Chase vs. Everywhere Else
Rates are hard to compare in the abstract. Dollars aren’t. We ran the same $2,000, 12-month borrowing need through every common option.
To keep the comparison fair, every option uses the same amount and the same 12 equal monthly payments. Interest-bearing loans are amortized at the stated APR. Pay Over Time is charged its flat fee each month on the original amount, which is how Chase describes the fee. The cash advance adds its 5% upfront fee to interest at the cash advance APR. Real offers will vary, but the order on this chart is remarkably stable across amounts we tried, from $1,000 to $5,000.
Three things jumped out when we lined these up. First, a good My Chase Loan offer isn’t a disaster. At the low end of that pricing sheet it costs about $45 more than a typical excellent-credit personal loan, in exchange for no application and money in a day or two. That trade can be worth it in an emergency.
Second, the gap grows fast at the top of the range. At 27.49%, the same $2,000 costs almost $180 more than the average bank loan. Third, the two options Chase makes easiest, Pay Over Time and a cash advance, are the most expensive ways to borrow on the chart. A cash advance also starts charging interest immediately, with no grace period, on top of its upfront fee.
Here’s the situational takeaway from that chart. If your credit is excellent, an outside personal loan will usually beat a card-priced My Chase Loan. If your credit is fair or damaged, a My Chase Loan you already qualify for, at a rate in that band, may actually be cheaper than what an online lender would offer you, with no hard inquiry. The answer flips depending on who you are, which is why we built the calculator below.
Chase Card Loan vs. Personal Loan Calculator
Enter the My Chase Loan APR shown in your Chase account and a personal loan offer from anywhere else. The tool compares total cost, including any origination fee, and shows what the Chase loan would do to your card utilization.
An origination fee is usually taken out of the loan before you receive it, so you may need to borrow a little more to end up with the amount you need. This tool assumes the fee is added on top.
The defaults reflect a fairly common case: $2,000 over a year, a My Chase Loan at the bottom of the pricing range we found, and a personal loan at October’s average rate for excellent credit with no fee. The personal loan wins by about $44. Now type 6 into the origination fee box, a typical mid-range fee for online lenders, and watch it flip: the fee wipes out the rate advantage. That’s the single most overlooked detail in personal loan shopping, and it’s why an “APR” that includes the fee is the only fair comparison.
Which Situation Sounds Like Yours?
The right move depends less on Chase and more on why you need money, how fast, and what your credit looks like right now.
My Chase Loan is built for this moment: no application, funds in about 1 to 2 business days. Before you accept, spend ten minutes prequalifying with two or three personal lenders that use soft credit checks. If one beats the Chase APR after fees, you’ve saved money; if none does, take the Chase offer knowing it was the best available. Avoid a cash advance unless it’s truly the only option and you can repay within weeks.
Your checking account alone doesn’t unlock any personal lending at Chase. Opening a Chase card to get My Chase Loan rarely makes sense, because a new card won’t come with a large loan offer right away. Go straight to a personal loan elsewhere. Many lenders will deposit funds into your Chase checking account without any issue.
A My Chase Loan priced near your card’s APR does little for consolidation; you’re moving debt to a similar rate on the same card, and it won’t lower your utilization. Two better routes: a personal loan at a clearly lower APR, which converts card debt into an installment loan and can help your utilization, or a 0% intro APR balance transfer card if you can clear the balance before the promo ends. Chase charges $5 or 5% on balance transfers on the card we checked, so count that fee.
If you already have a My Chase Loan offer, it may be one of your cheaper options, because personal loan rates for fair and bad credit average around 25% and 33%. If you don’t, try a credit union first. Federal credit unions are capped at 18% on most loans through September 10, 2027, and many offer payday alternative loans (PALs) of up to $2,000 with an APR cap of 28% and an application fee of no more than $20. Avoid payday and car-title lenders, which commonly charge triple-digit APRs.
Chase’s home equity line of credit is back, after the bank paused new HELOCs in 2020. Lines run from $35,000 to $400,000 against up to 80% of the home’s value. Chase’s offer page says you receive at least 85% of the line at closing, so on a $35,000 line you’d start with about $29,750 drawn and paying interest. The rate is variable, tied to prime; Chase’s September example for a strong borrower was 8.37% with a cap of 18%. That’s far cheaper than any card product, but the house is collateral.
Don’t take a cash loan to buy a car. Chase auto purchase loans run through more than 12,000 dealers in its network, start at $4,000, and are secured by the car, which usually means a lower rate than unsecured borrowing. Chase also refinances existing auto loans from $4,000 to $100,000, though not in every state and not loans Chase already holds. Buying from a private seller isn’t covered, so a credit union is the better call there.
Chase does lend to businesses. Its business line of credit runs from $10,000 to $500,000 and needs business documents, a business bank account and a hard credit pull. Using personal borrowing for a business mixes your finances and can make taxes messy. If the money is for the business, apply as the business.
Lenders must count reliable Social Security, pension and annuity income, and age discrimination in lending is illegal under federal law. The bigger question is the payment. Keep it short, ideally 12 months or less, and avoid any product with a fee you can’t undo, like a Pay Over Time plan. A credit union where you already have direct deposit is often the most forgiving lender for fixed incomes.
Hold off on any new debt if you can. A My Chase Loan raises card utilization; a new personal loan adds an inquiry and a monthly payment to your debt-to-income ratio. Either can change the rate or approval you get. If an emergency forces your hand, tell your loan officer before you borrow, not after.
Where to Get a Personal Loan If Not Chase
A true personal loan, a lump sum with a fixed rate and fixed payments on its own account, is easy to find. The work is in comparing offers properly.
| Lender type | Typical strengths | Watch for | Best for |
|---|---|---|---|
| Credit unions | 18% cap at federal credit unions; small loans; flexible on thin files | Membership required; slower funding | Fair credit, small amounts, fixed incomes |
| Credit union PALs | Up to $2,000; APR capped at 28%; fee capped at $20 | Short terms; not every credit union offers them | Emergency alternative to payday loans |
| National and regional banks | Relationship discounts; branch help | Some limit loans to existing customers | Good credit with an existing bank |
| Online lenders | Soft-check prequalification; fast funding; large amounts | Origination fees up to about 10% | Comparing many offers quickly |
| My Chase Loan | No application; funds in ~1–2 days | Card-like APR; raises utilization | Existing Chase cardholders in a hurry |
What other lenders will look at
Personal lenders weigh three things most heavily. Your credit score sets the price tier. Your debt-to-income ratio, meaning total monthly debt payments divided by gross monthly income, tells them whether one more payment fits; many lenders become cautious somewhere around 40% to 50%. And your income history tells them the payment will keep coming. Have recent pay stubs or, if you’re self-employed, two years of tax returns ready, plus a bank statement. If you bank at Chase, downloading statements from chase.com takes a minute and speeds up verification at the new lender.
A cosigner with stronger credit can lower your rate, but they become fully responsible for the debt, and the loan counts against their own borrowing. Ask a cosigner only if you’d be comfortable explaining a missed payment to them in person.
How to shop without hurting your credit
Pull your free credit reports first
AnnualCreditReport.com gives free reports from all three bureaus. A wrong late payment or a balance that was paid off can push you into a worse rate tier. Dispute errors before you apply.
Prequalify with soft checks
Most online lenders, and some banks and credit unions, show an estimated rate using a soft inquiry that doesn’t affect your score. Get three or four quotes for the same amount and term.
Compare APR, not the interest rate
The APR includes the origination fee. A loan at 12% interest with an 8% fee can cost more than a 16% loan with none. Also check whether the fee comes out of your deposit.
Apply formally to one lender
The full application usually triggers a hard inquiry. Federal law requires lenders to give you the reasons if they deny you, and you’re entitled to a free copy of any credit report that played a part.
The “Chase Personal Loan” Scam Calls and Texts
Because Chase doesn’t sell personal loans, any unsolicited offer of one in Chase’s name is a red flag by definition. Scammers count on people not knowing that.
The pattern is old and the FTC has warned about it for decades: a “lender” promises approval regardless of credit, then asks for an insurance, processing or “first payment” fee before releasing the money. The FTC says it’s illegal for companies doing business by phone in the U.S. to promise you a loan and ask you to pay before you get it. Once you send money by gift card, wire or payment app, it’s usually gone for good.
What to do: don’t reply or click links. Call Chase using the number on the back of your card or on chase.com, not a number in the message. If you’ve already paid, contact your bank or card issuer immediately, then report it to the FTC. Forward scam texts to 7726 (SPAM), which most U.S. carriers support.
When Something Goes Wrong
Most borrowing problems fall into a handful of patterns, and nearly all of them have a next step.
| What happened | Likely reason | Do this first | Then |
|---|---|---|---|
| No My Chase Loan offer in my account | Card type, account age or Chase’s own criteria | Check again next month; offers change | Prequalify elsewhere |
| Offer is smaller than I need | Limited by available credit and spending | Don’t stack a cash advance on top | Personal loan or credit union for the full amount |
| Score dropped after a My Chase Loan | Higher card utilization | Pay the balance down; recovers as it falls | Avoid new applications meanwhile |
| Regret a Pay Over Time plan | Plans can’t be canceled | Pay it off early to stop future fees, if allowed | Call Chase to confirm how early payoff works |
| Denied a personal loan elsewhere | Score, income or debt ratio | Read the adverse action notice | Fix errors; try a credit union or cosigner |
| Paid a fee to a “Chase loan” offer | Advance-fee scam | Call your bank or card issuer now | Report to FTC; watch for follow-up scams |
| Can’t make the payment | Income drop or emergency | Call the lender before you miss it | Ask about hardship plans; nonprofit counseling |
Because My Chase Loan and Pay Over Time live on your card, a missed card payment hits everything at once. On the Chase card pricing we reviewed, the late fee runs up to $40 and a penalty APR of up to 29.99% can apply after a missed payment, potentially indefinitely. That’s a heavier consequence than a late payment on most standalone personal loans, so set up autopay for at least the minimum.
Our Verdict
You already have an offer, you need the money within a couple of days, the APR shown is competitive with your prequalified outside offers, and you’re not about to apply for a mortgage or car loan. It’s genuinely convenient, and for borrowers with fair credit it can be the cheapest money available to them.
Your credit is good to excellent, you’re consolidating card debt, you need more than your Chase offer allows, or you want to keep your card utilization low. Prequalify with a credit union, a bank and one or two online lenders, and compare APRs that include fees.
Card cash advances for anything but a short, true emergency, Pay Over Time plans at the top fee, payday and car-title loans, and any “Chase personal loan” offer that arrives by unsolicited call or text.
Questions people still ask
Does Chase offer personal loans to existing customers or Chase Private Client members?
No. Chase doesn’t sell unsecured personal installment loans to anyone, including long-time and premium banking customers. Cardholders may get My Chase Loan offers instead.
Does My Chase Loan show up as a separate loan on my credit report?
It isn’t a separate account; it’s part of your credit card. The balance is included in what your card reports, which is why it affects utilization rather than appearing as a new installment loan.
Can I pay off a My Chase Loan early?
Yes. Chase says there’s no early payoff fee. Paying it down early also restores your available credit and lowers your utilization.
Does Chase offer secured loans against savings or CDs?
We didn’t find a share- or CD-secured personal loan in Chase’s consumer lineup. Many credit unions offer them, often at rates just a few points above what the savings earns, which makes them a good credit-building tool.
Can I get a Chase loan with bad credit?
Chase doesn’t publish minimum scores for its card products, and My Chase Loan is offered only to eligible cardholders. With poor credit, a credit union PAL or a secured credit-builder loan is usually a more realistic starting point.
Is a Chase HELOC cheaper than a personal loan?
Usually, on rate: Chase’s September example was 8.37% variable, compared with personal loan averages well into the teens. But the minimum line is $35,000, most of it is drawn at closing, the rate can rise, and your home secures the debt.
How this page was checked. Chase product details come from Chase’s My Chase Loan, HELOC and card pricing pages and from independent reviews of Chase’s auto and business lending. Card APRs and fees come from one Chase card pricing sheet dated when the prime rate was 6.75%; the prime rate is now 7.00%, and your card’s terms may differ. Bank personal loan and card interest averages come from the Federal Reserve’s G.19 consumer credit release for the second quarter. Credit-tier averages come from NerdWallet’s October pre-qualification data. Credit union rate limits come from the NCUA. Scam guidance reflects FTC consumer warnings. Dollar comparisons and charts are our own calculations.
This page is independent and not affiliated with JPMorgan Chase or any lender. It is general information, not financial or legal advice. Your offer’s disclosures are the final word.
Key sources: Chase · Federal Reserve · NCUA · Federal Trade Commission · Consumer Financial Protection Bureau