Chase Personal Loan Alternatives

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Chase Bank does not currently offer personal loans. However, if you’re looking for a loan, you may be eligible for financing through other online lenders and banks.

Personal Loans From Other Banks

If you value working directly with a traditional bank similar to Chase, consider personal loans from Wells Fargo or U.S. Bank. Opening a loan through a traditional bank gives you access to brick-and-mortar locations, in-person customer service and potentially lower interest rates.

Best For Existing U.S. Bank Customers

U.S. Bank

U.S. Bank

3.5

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

680

APR range

6.49% to 18.99%

with autopay

Loan amounts

$1,000 to $50,000

U.S. Bank

Minimum credit score

680

APR range

6.49% to 18.99%

with autopay

Loan amounts

$1,000 to $50,000

Why We Picked It

With a U.S. Bank personal loan you can gain quick access to funds for your one-time financing needs, whether that is consolidating your debt or covering a large expense. U.S Bank offers unsecured personal loans ranging from $1,000 to $25,000 to existing U.S. Bank customers. Loan terms run between 12 and 60 months.

U.S. Bank’s loans carry low interest rates that range from 5.99% to 16.49%, depending on your creditworthiness, which includes a 0.50% autopay discount. Borrowers with higher credit scores are more likely to qualify for interest rates on the low end of the spectrum. Similar to other top providers, U.S. Bank charges no origination fees, and there is no prepayment penalty, meaning you can always make loan payments before they are due.

Applying for a U.S. Bank loan is easy and can be done online; however, you must be a current U.S. Bank customer. Some customers may need to visit a U.S. Bank branch if additional information or documentation is required.

Pros & Cons

  • Funding only takes one business day
  • Autopay enrollees can receive a 0.50% discount on interest
  • No origination fees or prepayment penalty
  • Only available in 26 states
  • Some applicants may need to visit a branch to close their loan
  • Only offers small loan limits up to $25,000

Extra Details

Eligibility: U.S. Bank requires applicants to be existing U.S. Bank customers. If you’re a current customer, you can qualify for a personal loan with a minimum credit score of 680. However, those with scores of 680 won’t benefit from the lowest interest rates available.

Because you may need to visit a branch to close your loan, you must live near a physical location. U.S Bank has branches in 26 states: Arkansas, Arizona, California, Colorado, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Minnesota, Missouri, Montana, North Carolina, North Dakota, Nebraska, New Mexico, Nevada, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin and Wyoming.

Loan uses: U.S. Bank’s personal loans can be used for any purchase or product besides a home or education expenses. For example, they can cover vacation costs, home improvements, medical bills or help consolidate any debt obligations, like credit cards.

Turnaround time: An applicant typically will learn their loan approval status in less than a minute. If you qualify for the personal loan, you may fund your loan online; however, you may need to visit a branch if a U.S. Bank representative needs more information. After your loan closes, funds are available within one business day.

Best For Current Wells Fargo Trương mục Holders

Wells Fargo

Wells Fargo

3.5

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

No requirement

APR range

5.74% to 20.99%

with autopay

Loan amounts

$3,000 to $100,000

Wells Fargo

Minimum credit score

No requirement

APR range

5.74% to 20.99%

with autopay

Loan amounts

$3,000 to $100,000

Why We Picked It

Wells Fargo offers fixed-rate personal loans with limits between $3,000 to $100,000 and repayment terms from 12 to 84 months. While longer term lengths, such as 84 months, will decrease your fixed monthly payment, you will pay more interest over the life of your loan compared to a loan with terms of, let’s say, 12 months.

Wells Fargo personal loans boast interest rates between 5.74% and 24.24% for customers who qualify for the 0.25% relationship discount. To qualify, you need to have a Wells Fargo checking trương mục and make automatic payments from a Wells Fargo deposit trương mục. If you don’t enroll in autopay, interest rates range from 5.99% to 24.49%.

Although Wells Fargo is available to anyone in the United States, only current Wells Fargo customers will be able to apply online. New customers will need to visit a branch location. Wells Fargo does not have branch locations in Indiana, Kentucky, Louisiana, Ohio, Oklahoma, Maine, Massachusetts, Michigan, Missouri, New Hampshire, Vermont or West Virginia.

Pros & Cons

  • Receive funds the next business day, if approved
  • 0.25% discount when you enroll in autopay
  • No origination fees or prepayment penalty
  • Must have a Wells Fargo checking trương mục to receive 0.25% discount
  • New Wells Fargo customers will need to visit a branch to apply
  • No option to prequalify

Extra Details

Eligibility: Wells Fargo personal loans are available for both existing and new Wells Fargo customers. Existing customers can apply online, while new customers must visit a branch location. Although Wells Fargo doesn’t have a minimum credit score requirement, it’s a good rule of thumb to maintain a score of at least 670 to increase your chances of receiving a low personal loan rate.

Loan uses: You can use Wells Fargo personal loans for any type of purchase besides a home and education expenses. For example, you can consolidate your debt, finance purchases like new appliances or furniture, fund renovations and cover expenses, such as medical bills and auto repairs.

Turnaround time: Wells Fargo offers a simple and quick application process for existing customers. If you submit an application online, you’ll receive an instant approval response. Once approved, you can typically receive your funds by the next business day.

Personal Loans From Online Lenders

If you prefer to bank online and don’t need access to in-person locations, consider an online lending platform like SoFi, Figure or LightStream. Online lenders typically have more flexible qualification requirements than traditional banks but at the cost of higher interest rates and fees.

Best Overall Personal Loan

SoFi

SoFi

4.0

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

650

APR range

6.74% to 21.53%

with autopay

Loan amounts

$5,000 to $100,000

SoFi

Learn More

Via Credible.com’s Website

Minimum credit score

650

APR range

6.74% to 21.53%

with autopay

Loan amounts

$5,000 to $100,000

Why We Picked It

SoFi is an online lending platform that offers unsecured fixed-rate personal loans in every state except Mississippi. Founded in 2011, SoFi has extended over $50 billion in loans and stands out for allowing high loan amounts and its availability of extended loan terms.

Loans are available between $5,000 and $100,000, making SoFi a great option for those with excellent credit who need to borrow a large amount of money. Loan amounts available may vary by the state you live in. Repayment terms range from two to seven years, making SoFi an incredibly flexible option for those with sufficient credit (minimum 680) and annual income (at least $45,000). SoFi also lets prospective borrowers submit joint applications—although co-signers are not permitted.

Approved borrowers are rewarded with comparatively low APRs. What’s more, SoFi doesn’t charge origination fees, late fees or prepayment penalties—a stand-out feature because personal loan lenders often charge origination or late payment fees at a minimum.

However, if you’re considering a debt consolidating loan from SoFi, keep in mind that the lender does not offer direct payment to a borrower’s other creditors. This means the loan proceeds will be deposited to your bank trương mục and you’ll have to pay off your other lenders individually. The platform does offer customers a number of other perks and discounts, including unemployment protection and the ability to change their payment due date once a year.

Pros & Cons

  • Prequalification with soft credit check
  • Funding in as little as one to two days
  • High loan amounts and lengthy terms
  • Does not offer direct payment to third-party creditors for debt consolidation
  • Some applicants report difficult qualification standards
  • Co-signers are not permitted

Extra Details

Eligibility:  Personal loan applicants should have a minimum credit scoreof 680. However, many successful applicants have a score of 700 or higher. Applicants also must have an annual income of at least $45,000, though the average income of a SoFi borrower is over $100,000.

Loan uses:  In general, SoFi personal loans are limited to use for personal, family and household purposes. This means a borrower can use loan funds to cover things like medical costs, credit card consolidation, home improvements and relocation costs. However, SoFi loans cannot be used to fund a new business venture, the purchase of real estate, investments and securities, post-secondary education or short-term bridge financing.

Turnaround time: Borrowers typically receive funds within a few days—or as soon as the next business day after approval and acceptance of terms. However, funding times may be longer than a few days—especially for loans over $20,000.

Best for Low Interest Rates

LightStream

LightStream

4.0

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

660

APR range

3.49% to 19.99%

with autopay

Loan amounts

$5,000 to $100,000

LightStream

Learn More

Via Credible.com’s Website

Minimum credit score

660

APR range

3.49% to 19.99%

with autopay

Loan amounts

$5,000 to $100,000

Why We Picked It

LightStream is a consumer lending division of Truist—which formed following the merger of SunTrust Bank and BB&T. The platform offers unsecured personal loans from as little as $5,000 up to $100,000. Loan amounts vary based on the loan purpose. Although a number of lenders offer smaller loans than the LightStream minimum, few lenders offer a higher maximum loan. Repayment terms are available from two to seven years, making it an excellent option for those who want to spread out the payment of large expenses over time.

In addition to offering appealing and flexible terms, LightStream charges no origination, late payment or prepayment fees. The lender also offers a 0.50% rate discount for borrowers who enroll in autopay—higher than most lenders with the same perk—as well as a 30-day loan experience guarantee to ensure borrower satisfaction, Covid-19/hardship assistance and a rate-beat program. LightStream will beat a competitor’s interest rate by 0.1% for applicants who meet certain criteria.

LightStream offers loans in all 50 states plus Washington, D.C. and Puerto Rico, and applicants can contact the lender’s customer support team seven days a week; current borrowers have access to customer support from Monday through Saturday. And, while LightStream doesn’t offer a mobile app for loan management, customers can access their trương mục through LightStream.com.

Pros & Cons

  • No origination, prepayment or late fees
  • Low, competitive rates
  • Fast approval and funding
  • No prequalification process
  • No due date flexibility
  • Limitations on use of loan proceeds

Extra Details

Eligibility: LightStream recommends applicants have good to excellent credit before applying for a personal loan. To increase their chances of approval, applicants also should have several years of credit history, including multiple trương mục types, as well as an income that is stable enough to service current debts and a new LightStream loan.

LightStream doesn’t give prospective borrowers the ability to prequalify for a loan. This fact—combined with the minimum credit score requirement—makes the platform a better fit for those with a strong credit profile. Applicants with excellent credit also are more likely to get favorable terms. LightStream does not allow co-signers, but prospective borrowers can submit a joint application.

Loan uses:  LightStream’s personal loans can be used for a wide range of purposes, from purchasing a new car, RV or jewelry to paying for home improvements. However, LightStream really stands out, because loans can be used to finance land, timeshares and so-called tiny homes. As with other top lenders, LightStream prohibits use of its personal loans for post-secondary education costs, business purposes and illegal activities. Borrowers also are prohibited from using LightStream loan funds to refinance an existing LightStream loan.

Turnaround time:  LightStream borrowers can receive funds as soon as the same day if the loan is approved before 2:30 p.m. Eastern time on a banking business day. To receive same-day funding, the applicant also must review and electronically sign the loan agreement; provide LightStream with funding preferences and relevant banking information; and complete the final verification process—all before 2:30 p.m. on the day the loan is approved.

Best for Next-day Funding

Figure

Figure

4.0

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

640

APR range

5.75% to 31.44%

with autopay

Loan amounts

$5,000 to $50,000

Figure

Minimum credit score

640

APR range

5.75% to 31.44%

with autopay

Loan amounts

$5,000 to $50,000

Why We Picked It

Figure is an online lender unlike any other on our list—it uses blockchain technology to automate the entire loan process from application to closing. Specifically, it uses the Provenance Blockchain for loan origination, equity management, private fund services, banking and payments. Through blockchain, it’s able to offer speed, efficiency and savings to its customers.

Prospective borrowers can apply for Figure personal loans between $5,000 and $50,000 with terms of three or five years. If approved, borrowers enrolled in autopay receive a 0.25% rate discount, which is included in the APR ranges shown above.

Figure also offers a unique referral program. If you refer someone who is a first-time Figure borrower, you get $150 and they get $150 when they receive their funds, awarded in the form of a gift card. The referral program is available in all U.S. states except Kentucky, Ohio and Rhode Island.

Pros & Cons

  • Next-day funding available
  • Competitive interest rates
  • No prepayment penalty
  • Origination fees between 0% and 3%
  • Only offers two term lengths
  • Co-signers and co-borrowers are not permitted

Extra Details

Eligibility: Figure personal loan requirements are as follows:

  • Minimum VantageScore of 640
  • Debt-to-Income (DTI) ratio less than 50% (excluding housing expenses)
  • Must be in good standing on any previous Figure loans
  • Must be employed; however, retired applicants currently do not require verification of employment (VOE)

Turnaround time: Figure prides itself on a fast application-to-funding process. You can receive an approval within five minutes, and it will fund your loan in as few as two days. However, you can receive next-day funding if you complete your application before 4 pm PST on a business day. Figure does not fund loans on weekends.

Personal Loans From Credit Unions

While most credit unions are local to your community, the ones listed below are available nationally. While you generally don’t have to join the credit union to apply for a loan, you’ll typically need to become a member if you are approved and want to accept the loan—so be sure to check if you’re eligible.

Best Overall For Veterans & Military Members

Navy Federal Credit Union

Navy Federal Credit Union

3.5

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

No requirement

APR range

7.24% to 17.75%

with autopay

Loan amounts

$250 to $50,000

Navy Federal Credit Union

Minimum credit score

No requirement

APR range

7.24% to 17.75%

with autopay

Loan amounts

$250 to $50,000

Why We Picked It

Since 1933, Navy Federal has grown from seven members to over 10 million, making it one of the most common credit unions for veterans or members of the armed forces. Not only that, but it also aims to “be the most preferred and trusted financial institution serving the military and their families.” Its reputation in the market and excellent products makes for an easy decision to include it as one of the institutions to find the best personal loans for veterans.

Navy Federal offers personal loans as low as $250 and up to $50,000, making it the lender with the smallest minimum loan limit. Loan limits of this range give veterans the ability to finance purchases of all different sizes. What’s more, repayment terms of up to 60 months are available. Applying for a loan with shorter repayment terms, however, will save you money on interest over the life of your loan.

Navy Federal personal loans have interest rates between 7.49% and 18.00%. The lowest of the range, 7.49%, is reserved only for loans with terms of up to 36 months and applicants with excellent credit. Active duty members also can receive a 0.25% autopay discount; however, non-active duty members cannot receive this perk.

Pros & Cons

  • No prepayment penalties
  • 0.25% autopay discounts for active duty members
  • Same-day funding
  • $29 late fee applied when you’re 10 days past due
  • No autopay discounts for non-active duty personnel
  • Lowest APR applies only to loans with terms of up to 36 months

Extra Details

Eligibility: You must be a member of Navy Federal to apply. To become a member, you or one of your family or household members must have ties to the armed forces, Department of Defense or National Guard. Members can apply online. Navy Federal does not have a minimum credit score requirement; however, borrowers with higher credit scores have a better chance of qualifying and receiving favorable terms. We recommend a minimum score of 670.

Loan uses: You can use Navy Federal personal loans for unplanned and planned expenses, including auto repairs, vacations and other major purchases; you cannot use them for higher education or to purchase a home. If you need to consolidate debt or finance a home improvement project, Navy Federal has personal loans designed specifically for those expenses.

Turnaround time: Navy Federal offers a simple online application process and different fund disbursement methods. The quickest way to receive your funds is through an automatic deposit, which you can receive immediately after approval.

Best For Small Loans

PenFed Credit Union

PenFed Credit Union

3.0

Forbes Advisor

Our ratings take into trương mục loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum credit score

650

APR range

5.99% to 17.99%

Loan amounts

$600 to $50,000

PenFed Credit Union

Learn More

Via Credible.com’s Website

Minimum credit score

650

APR range

5.99% to 17.99%

Loan amounts

$600 to $50,000

Why We Picked It

Although PenFed was originally created to serve U.S. military members and veterans, in addition to federal employees and retirees, it has expanded its membership to non-military members. PenFed has several federal partners, including the American Society of Military Comptrollers, Coast Guard Auxiliary Association, Navy League of the United States and United States Army Warrant Officers Association.

PenFed offers fixed-rate, low-interest loans that start at $600 and top out at $50,000. If you’re looking for a mix of low interest rates and high loan limits, PenFed may not be the choice for you; look toward LightStream for higher limits.

PenFed personal loans carry rates between 5.99% and 17.99%, based on your application and credit information. Applicants with higher credit scores can typically snag the lowest rates. What’s more, PenFed also boasts no title or deed requirements, no early payoff penalty and no origination or hidden fees. Although PenFed is located on the East Coast, borrowers will have around-the-clock access to their accounts through the PenFed mobile app.

Anyone can apply for a loan through PenFed; however, if you’re approved and choose to move forward with your loan, you’ll need to become a member of the credit union. Becoming a member is easy, and it typically only takes a few minutes. While the membership is free, you’ll need to make a deposit of at least $5 into a new PenFed savings trương mục.

Pros & Cons

  • No origination or hidden fees
  • Funds could be available the next day
  • Few qualification requirements
  • Loan amounts up to $20,000
  • Branches only located on the East Coast
  • Must open a PenFed savings trương mục to become a member

Extra Details

Eligibility: PenFed requires borrowers to have a minimum credit score of 650 to qualify. However, favorable rates and terms are awarded to those with higher scores. Applying with a co-borrower may help you qualify for a lower interest rate if you have a low credit score.

PenFed does not require you to be a member to apply, but it does require you to become a member if you choose to move forward and fund your loan. No military service is required for membership.

Loan uses: You can use PenFed’s personal loans for debt consolidation, home improvement, transportation, medical and dental, life expenses and even to pay off credit card debt. Other uses, such as refinancing student loans or financing higher education, typically requires a different type of loan for that use.

Turnaround time: Funds through PenFed’s personal loans are available as early as the next day if you pay for expedited shipping. If you want to receive your money sooner, you’ll need to visit a local PenFed branchto pick up your check.

Alternatives to Personal Loans

A personal loan may not be the best option for your specific needs or creditworthiness. If that’s the case, consider common alternatives, including:

  • Using a credit card. Credit cards typically have higher interest rates than personal loans, but they might be easier to qualify for with damaged credit. However, if you have strong credit, you may qualify for a 0% introductory offer, which can save you money on interest.
  • Taking out a personal line of credit. Unlike a personal loan, which is disbursed as a lump sum, a personal line of credit lets borrowers access funds up to a certain limit on an as-needed basis. With this type of financing, the borrower only pays interest on what they use, not the entire credit limit.
  • Asking family or close friends. If you don’t qualify for a personal loan, consider turning to family or close friends for a loan. Although this is less formal than a traditional loan, you should still put the terms and conditions agreed upon by both parties in writing and make sure everyone is comfortable with the agreement.