These banks are great for personal loans because they offer competitive interest rates, fixed monthly payments, and convenient access to funds when you need them. We think it's important that you understand how we make money. The financial product offers you see on our platform come from companies that pay us. The money we earn helps us give you access to free credit ratings and reports and helps us create our other great educational tools and materials.
Compensation can take into account how and where products appear on our platform (and in what order). But since we usually make money when you find an offer you like and receive, we try to show you deals that we think are a good fit for you. That's why we offer features like your approval probabilities and savings estimates. Of course, the offerings on our platform don't represent all the financial products out there, but our goal is to show you as many great options as we can.
Wells Fargo, PNC Bank, U. S. Bank, Regions Bank, and OneMainFinancial are some of the best banks for personal loans. There are several reasons why you can apply for a personal loan from a bank.
You may need cash for a specific purpose, such as home improvement or a loan to pay off high-interest credit cards. American Express only offers installment loans to cardholders, but the terms can be relatively competitive if you have good credit. APRs for American Express personal loans start quite low, at 7.98%, rising to 19.98% (as of publication). Amex offers reimbursement terms of 12, 24 or 36 months.
But you can only apply if you have a personal offer; you can visit the Amex site to see if you have a pre-qualified offer on hold. Loan funds are usually disbursed into your bank account within three to five business days. American Express personal loans are available in all 50 states, and although they can be used for debt consolidation, the funds cannot be used to pay cards issued by Amex. Amex will send the funds to an eligible bank account; it will not send the money directly to creditors. U.
Bank offers personal loans with no opening fees and no prepayment penalty. You are always free to make your loan payments in advance, in part or in full. A personal loan isn't secured, meaning you don't need to put your house or car as collateral. This may be a good option if you don't have a home equity or don't qualify for a home equity loan or line. You can get a loan for your project in a matter of hours with U.
Bank's easy and secure online application process. If you have a FICO credit score of 660 or higher (or higher if you are not a current U. Bank customer), a personal loan might be right for you. All loans are subject to credit approval. You can use a personal loan for any purchase or product.
This one-time financing can help cover vacations, home renovations, medical bills or consolidate debt. When you apply for a personal loan, enter any loan term from 12 to 84 months (maximum 60 months for non-customers) with a fixed APR ranging from 5.99% to 18.49%. The final amount may vary depending on the borrower's credit score and other credit requirements. We will use certain information about you to perform a soft credit check, which will not affect your credit rating. You can apply with another person; if you apply with a joint applicant, your income and credit history are also considered and may affect your interest rate or loan amount. Once you apply, U.
Bank will request a full credit report, which may affect your credit rating. We'll usually notify you of the approval status of your loan in less than a minute. If your loan is approved and you are a U. S., Bank personal checking or savings account customer, you can close your loan online; if not, you may need to visit a U. S., Bank branch to close your loan.