Engagement ring financing

No-hassle engagement ring financing with a personal loan

A personal loan through Prosper can finance the engagement ring of your partner’s dreams without mortgaging your future.

Checking your rate will not affect your credit score


Why use a Personal Loan to finance an engagement ring?

You want to make smart financial decisions when starting your life together, but you also want to buy a ring that your partner will be happy to wear forever.
Prosper can’t help you find the right engagement ring (or the right person to wear it!) but we can help you finance it. Our simple, flexible financing options will help you start your new lives on the right financial foot and with the engagement ring of your dreams on your finger.

Checking your rate will not affect your credit score

You find the right ring. We’ll help you pay for it

The old saying about spending two months’ salary on an engagement ring? Don’t let societal expectations lead you to financial stress. You should spend as much or as little as you feel comfortable with—the important thing about an engagement ring is what it represents.
You’re in it for the long term, so make sure you’re thinking about the future when you consider financing options as well! Here are some ways people pay for engagement rings:
Cash for engagement


If you can afford it, paying cash is a great way to avoid debt. However, saving up for a nice ring may limit the funds you can put into investments for your future. Putting your cash towards an emergency fund or down payment on a house may be a better use of your savings.

Credit cards

Many people reach for their credit card when making a major purchase. It’s convenient, available, and you can even get reward points or cash back with some cards. However, if you’re already running a balance or you can’t pay off the full balance with your next payment, you’ll have to pay interest on your purchase. If a personal loan through Prosper has a lower rate than your credit card it could make sense for you.

credit cards for engagement
store financing for engagement

Store financing

Most jewelry stores offer financing, and some even offer low-interest or 0% financing for a set promotional period. Depending on your financial situation and the financing options available, a personal loan could make the most sense for you.

Personal loans

A personal loan provides money that you repay over a set period in monthly installments. They are unsecured loans and generally have fair and competitive interest rates. Best of all, personal loans such as those through Prosper offer a quick application process and funding, so you can pop the question sooner than later!

Cinematic defocus shot of happy homosexual couple, two beautiful women are happy. Gay couple marriage proposal concept, love is love, wedding ring, engagement day

Personal Loans: Flexible, fast funds

Personal loans through Prosper give you the fast, flexible funding you need to finance your perfect engagement ring. And since your loan is disbursed as a lump sum, you can use any extra funds for a special trip or dinner for the proposal once you have the ring.

  • An easy online application: You’ve got enough on your mind. Prosper’s application process is quick and painless.
  • No rate hikes, or payment increases: Impress your spouse-to-be with your financial acumen. Personal loans through Prosper have a simple repayment schedule for a set term of 2-5 years1. There are no rate hikes or payment increases.
  • No prepayment penalties: Personal loans through Prosper have no prepayment penalty. Expecting a bonus or tax refund but don’t want to wait to pop the question? Use the money to pay your loan off early.
  • Competitive fixed rates: Personal loans through Prosper offer reasonable interest rates based on your credit history and unique financial situation.
  • Flexible usage: Personal loans through Prosper are disbursed directly to you, allowing you to use them however you need. Finance your ring and any other engagement expenses with one easy loan.
  • Fast Funding from $2,000-$50,0001: Personal loans through Prosper are disbursed as quickly as the next business day2 after approval, giving you access to the funds you need right away.

Checking your rate will not affect your credit score


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.


What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


1 For example, a three-year $10,000 personal loan would have an interest rate of 9.88% and a 6.99% origination fee for an annual percentage rate (APR) of 14.93% APR. You would receive $9,301 and make 36 scheduled monthly payments of $322.11. A five-year $10,000 personal loan would have an interest rate of 11.64% and a 7.99% origination fee with a 15.36% APR. You would receive $9,201 and make 60 scheduled monthly payments of $220.63. Origination fees vary between 1% and 7.99%. Personal loan APRs through Prosper range from 6.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank.


2 You may receive your funds one business day following your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s ability to quickly process the transaction.


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