Getting a personal loan can be a daunting task, especially if you have bad credit. But there are some banks that make it easier than others. USAA and Wells Fargo are two of the most accessible banks for personal loans, even for those with lower credit scores. USAA does not disclose a minimum credit rating requirement, but its website states that they consider people with scores below the fair credit range (below 640).
So, even people with bad credit can qualify. Wells Fargo offers banking services and loans to military and veterans, including benefits for active military, such as discounted rates. Existing customers can apply for and obtain a financed loan online, while new customers must apply at one of the bank's 5,700 branches. Your APR will be between 5.99%-24.99% based on creditworthiness at time of application for loan terms from 36 to 84 months.
LightStream, the online lending division of SunTrust Bank, offers large loan amounts and rates that are among the lowest available. Depending on the type of checking account you link to your loan, you can earn 50 or 125 ThankYou points per month for direct deposit and bill payment. American Express only offers personal loans to cardholders, but terms can be relatively competitive if you have good credit. Citi personal loans cannot be used for debt consolidation of Citi credit cards and certain Citi credit accounts and current accounts (for which credit can be extended).
Provides a number of personal loan options for debt consolidation, home improvement, medical expenses and auto finance, to name a few. Personal loans offered by online and traditional banks, including large credit unions, that come with no opening or registration fees, fixed-rate APRs, and flexible loan amounts and terms to accommodate a variety of financing needs. Many banks have a minimum credit score that they will accept from a borrower, but they aim above the minimum requirement for the best chance of getting a low rate. When looking for a personal loan, it's important to compare different lenders to find the best deal for your needs. LightStream offers some of the lowest rates available and American Express may be an option if you have good credit.
Citi provides several options for debt consolidation and other financing needs. It's important to read all the terms and conditions before signing any loan agreement and make sure you understand how much you'll be paying in interest over the life of the loan. Be sure to repay the loan as promised to avoid damaging your relationship with the lender.