What is a Simple Loan?

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

Not a U.S. Bank checking customer? Explore our checking account options.

How a Simple Loan works

  • Apply anytime within Online or Mobile Banking, with a real-time decision and quick access to loan funds
  • Borrow up to $1,000, in $100 increments
  • Loan funds deposited directly into your U.S. Bank consumer checking account
  • Repay the loan in 3 monthly payments

Simple pricing with no late fees or prepayment fees.

For every $100 borrowed you pay:

$12 fee with automatic payments from your U.S. Bank consumer checking account

or

$15 fee with manual payments

Payment Example

If you borrow $400 and select automatic payments, your fee will be $48. You’ll pay back a total of $448 in 3 monthly payments of approximately $149.33 each. Your total cost to borrow (Annual Percentage Rate) will be 70.65%.

Simple Loan is a high-cost loan and other options may be available:

To get started here's what you'll need.

  • You must be at least 18 years old and have had a U.S. Bank checking account for a minimum of 6 months
  • 3 months of recurring direct deposits into a U.S. Bank checking account
  • Your Social Security number

Log in to Online or Mobile Banking and access the Simple Loan application link on the checking account page.

Our online application is convenient and secure.

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Convenient

If you’re already a U.S. Bank customer, you can find the Simple Loan application link on the checking account page when logged into Online or Mobile Banking.

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Secure

We use the strongest available encryption to protect any information you send.