Whether you’re planning to pay down credit card debt, consolidate your student loans, or finance a much-needed home improvement project, personal loans are one of the easiest ways to get the money you need.
Of course, with so many personal loan companies in the United States vying for your business, it can be hard to know which one to choose! This top 10 list will help steer you in the right direction as you search for the perfect lender for your needs.
10) Morgan Stanley
With a personal loan, you can get cash fast. With no credit check required, these loans are fast and easy to apply for. Morgan Stanley offers online financing from $3,000 to $250,000, with a fixed APR as low as 8%. You can also request up to 60 months of repayment. The application process is simple and secure; once approved, funds will be electronically deposited directly into your checking account within two business days.
9) Citizens Bank
A lot of banks offer personal loans. The amount you can borrow depends on your creditworthiness and that is determined by many factors including your income, debt, and expenses. However, most lenders will require that you have a steady job and good credit history before they approve you for a loan. If you are considering a personal loan with Citizens Bank or any other bank or lender, be sure to compare rates before applying to ensure you get the best deal possible.
8) Wells Fargo
Wells Fargo is a very popular personal loan company based out of San Francisco, California. It’s been around since 1852 and is arguably one of the most trusted banks in America. They offer an average interest rate of 5.05% on their personal loans (this may vary depending on your state). Their process is super easy and they have branches across much of America. Plus, they do not require a credit check to apply for a loan, which makes it great for bad credit borrowers!
7) SunTrust Bank
SunTrust Bank has a longstanding history of providing personal loans, and they also offer an array of other personal financial services, including savings and checking accounts, money market accounts, CDs, IRAs and home mortgages. SunTrust is headquartered in Atlanta, Georgia.
6) Sallie Mae
Sallie Mae is one of America’s largest financial services companies, serving customers of all ages through a variety of channels. Founded in 1972, Sallie Mae provides private student loans and federal student loans. Sallie Mae’s history includes service as a Government Sponsored Enterprise (GSE) or federally chartered corporation that was privatized and became an independent company in 2004. The company is headquartered in Wilmington, Delaware with major operations across 19 offices located throughout North America.
5) Bank of America
Bank of America is a major financial services corporation headquartered in Charlotte, North Carolina. Bank of America has more than 5,500 branches and 15,000 ATMs across all 50 states. Bank of America offers personal loans with competitive rates and terms to qualified borrowers. To get your personal loan from Bank of America with a minimum credit score requirement of 650, you will need to provide proof of income such as pay stubs or tax returns. Get started on your application today!
4) First National Bank of Omaha
This personal loan company has great rates, flexible terms and excellent customer service. Whether you’re looking for a long-term or short-term loan, First National Bank of Omaha is a solid choice. You can apply online or with its mobile app, and see if you’re approved immediately.
3) Discover Bank
In addition to a competitive personal loan rate, Discover Bank offers an 18-month introductory offer of 0% APR on balance transfers. After that introductory period ends, your interest rate will float between 8.74% and 19.74%, depending on your credit score. These rates could vary slightly depending on how you apply for your loan; rates are typically lower if you sign up for automatic payments or have a Discover checking account open at time of application.
2) Capital One Financial Corporation
With Capital One Personal Loans, you get a convenient online process that takes as little as 30 minutes. You can apply for a loan and prequalify on their website and once you’re ready to take out a loan, you can have money deposited directly into your checking account by next business day. Loans range from $1,000 – $35,000 with flexible repayment options that include monthly or bi-weekly payments.
1) Navient Solutions, Inc.
If you’re planning to take out a personal loan in order to pay off some pressing bills, there are a few different types of loans from which you can choose. First, there are personal loans for debt consolidation: if you’ve got several high-interest debts and want to consolidate them into one easy monthly payment, these loans can really come in handy. Another common type of personal loan is used for car purchases.