Sail Loans Review: Is It A Scam Or Is It Legit?

Residents of Illinois have the option to receive financial assistance through an organization called, “Sail Loans“. This company offers customers saving and installment loans as well as credit reporting services. The company advertises its services at sailloans.com.

Sail Loans Summary

Choosing the right loan isn’t always an easy process, and with so many lenders to pick from you want to make sure that your decision is based on facts. In recent times Sail Loans have been generating a lot of interest but it’s important to get as much information as you can before signing up. To help inform your decision here’s what Sail Loans offer so you can be sure it’s the best fit for you.

• Loan amounts and requirements are subject to change.
• The maximum Annual Percentage Rate, or APR, is a hefty 35.99%.
• You may take out a loan that has either a 12 or 24-month repayment period.
• The range of loans available is between $100 and $4,000.
• By submitting a short application you agree to receive an email, phone, and text correspondence.

What are Sail Loans?

Sail Loans provides financial solutions for residents of Illinois with savings and installment loans. The lender is situated in Des Plaines, IL and you may contact them at 833-700-7245. Currently, Sail Loans has not gained accreditation from the Better Business Bureau, yet they have set up a verified account with Trustpilot. Based on 17 reviews, they have an impressive overall rating of 4.2 out of 5 stars.

How do Sail Loans work?

For those of you who want to increase your savings and acquire cash fast, SAIL Loans offers a solution. Start by submitting an application that is simple to fill out. You can choose to request up to $4,000 so whatever your current needs are, it’s easy to get approved in minutes after submitting the installment loan form. Once your details have been confirmed, you will receive your funds immediately in your bank account and that same day a portion will be directed into a secure deposit account as well.

How to qualify?

For those seeking to apply for a loan with Sail Loans, there are certain documents that you must provide. This list may include a verified bank account, evidence of current income within the last 30 days, proof of identities such as a driver’s license or state ID card, and verification of your residence. It is also possible to obtain approval for the loan without having a perfect credit history.

Sail Loans BBB Reviews

Although Sail Loans has yet to secure approval from the Better Business Bureau, they have established a validated account with Trustpilot. So far, according to 17 reviews, their overall score is exceptional – 4.2 out of 5 stars.

Here are some reviews:

paul samuels

Date of experience: December 19, 2022

Dejanae Jones

Date of experience: April 05, 2022

Sail Loans Solutions FAQs

How much does Sail Loans charge?

The APR for borrowing with Sail Loans runs as high as 35.99%, and loans can be obtained in the range of $100 – $4,000 for terms of 12 to 24 months. When considering a loan of $1,000 for 12 months at an APR of 35.99%, you can expect your bi-weekly repayment to be around $46.06, resulting in a total cost of payments of $1,197.55 with an extra cost amounting to $197.55.

Are there any pre-payment penalties?

Sail Loan does not charge pre-payment penalties. You’ll be able to make payments early with no extra fees.

How do Sail Loans affect your credit?

Taking out a loan may be the best route for financing larger purchases or consolidating debt, but understanding the process is vital to maintain your credit score. Lenders typically conduct a soft credit check early on which won’t lower your score – yet when you decide to proceed with it, another hard inquiry will take place. This hard inquiry is what affects your credit score and it’s why caution should be taken before making any decisions.

How to cancel Sail Loans?

Before signing off on a loan, it is essential to be fully aware of the risks involved. All of the details should be examined thoroughly to ensure that no unexpected issues arise during or after the transaction has been completed. Once the money appears in your bank account, it is not possible to reverse it. To avoid any potential problems in the future, make sure that everything has been thoroughly analyzed and inspected beforehand.

It can be tough to manage your finances, but there are some steps you can take to get back on track.

There are a few things to keep in mind when trying to stay on top of your finances.

• First, create a budget that works for you and stick to it as best as possible. This will help keep your spending in check and improve your financial prospects for the future.
• Another great tip is to consult with a financial advisor. They can help explain your different options and set up a plan that fits your unique circumstances.
• And lastly, try not to stress too much about debt. Many companies understand and are willing to work with customers in order to create a more manageable payment plan. All you need to do is reach out to their customer service team for more information.

Is Sail Loans legit or a scam?

Sail Loans is an organization that provides financial services to help people acquire money and make savings. Though it does not have either Better Business Bureau accreditation or account, which is a warning sign, there is a ray of hope as its Trustpilot account displays a commendable level of average feedback.

When it comes to taking out a loan, it pays to do your research. Interest rates and repayment terms can vary greatly among lenders so comparing offers is essential to get the best deal. Furthermore, seeking feedback from customers who have used specific lenders before you can help determine whether that lender is suitable for your needs.

Do you know sailloans.com? Leave your experience and review below!

Thank you for reading!