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Best Personal Loans From Banks of 2024
BEST FOR BANKING WITH A CREDIT UNION
PenFed
Minimum Credit Score
Does not disclose
APR range
8.99% to 17.99%
Loan amounts
$600 to $50,000
Does not disclose
8.99% to 17.99%
$600 to $50,000
PenFed is a credit union with availability across the country and flexible membership requirements.
Why We Like It
PenFed offers a wide range of borrowers the option to borrow from a credit union, operating branches in 13 states.
What We Don’t Like
PenFed doesn’t disclose some of its eligibility requirements, including minimum credit score.
Who It’s Best For
PenFed’s personal loans are best for borrowers who are keen to borrow from a credit union.
Consumer Score
We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5
- # Interest Rates and APRFor Interest Rates and APR
- 61% of people had positive sentiments
- 8% of people had neutral sentiments
- 31% of people had negative sentiments
For Interest Rates and APR- 61% of people had positive sentiments
- 8% of people had neutral sentiments
- 31% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 22% of people had positive sentiments
- 8% of people had neutral sentiments
- 70% of people had negative sentiments
For Customer Service- 22% of people had positive sentiments
- 8% of people had neutral sentiments
- 70% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 45% of people had positive sentiments
- 34% of people had neutral sentiments
- 21% of people had negative sentiments
For Loan Terms and Flexibility- 45% of people had positive sentiments
- 34% of people had neutral sentiments
- 21% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 67% of people had positive sentiments
- 3% of people had neutral sentiments
- 30% of people had negative sentiments
For Ease of Approval and Process- 67% of people had positive sentiments
- 3% of people had neutral sentiments
- 30% of people had negative sentiments
PenFed personal loan borrowers gave the lender mixed reviews. Some appreciated the ease and speed of the application process, while others had issues with customer service, transparency and loan processing. Some borrowers also faced unexpected fees.
- No origination or prepayment fees
- Prequalification with a soft credit check
- Allows for co-borrowers
- Doesn’t operate branches in all states
- Requires membership
- Charges late payment fee of $29
Eligibility
- Minimum credit score. Does not disclose
- Minimum income. Does not disclose
- Co-borrowers. Permitted
Customer service
We called PenFed to evaluate its customer service team’s responsiveness and found it to be one of the most helpful and efficient experiences among lenders on our list. While we waited one minute and 15 seconds to connect with a rep, they provided complete transparency for each of our questions.
PenFed’s team disclosed essential loan details like loan amounts, available interest rates, required documentation and loan approval times. They also shared information about potential fees and payment assistance options if repayment becomes challenging. We are impressed with PenFed’s willingness to share this information with prospective borrowers, which can improve the overall loan experience.
BEST FOR LARGE LOANS
Wells Fargo
Minimum Credit Score
Does not disclose
APR range
6.99% to 24.49%
with autopay discount
Loan amounts
$3,000 to $100,000
Does not disclose
6.99% to 24.49%
with autopay discount
$3,000 to $100,000
Wells Fargo operates branches in 36 states and offers loans to borrowers nationwide.
Why We Like It
Wells Fargo offers borrowers large loans up to $100,000, which is more than many other personal loan lenders. Its personal loans also come with rates as low as 6.99% and charge no origination fees or prepayment penalties.
What We Don’t Like
Although Wells Fargo’s loans are available nationwide, it doesn’t operate branches in every state.
Who It’s Best For
Wells Fargo’s personal loans are best for borrowers who are looking for a large loan and want to bank in person.
Consumer Score
Wells Fargo’s borrowers often complained about high interest rates, unexpected fees, and poor customer service experiences. Some users found the mobile app user-friendly and efficient, while others found challenges with it.
- # Interest Rates and FeesFor Interest Rates and Fees
- 22% of people had positive sentiments
- 11% of people had neutral sentiments
- 67% of people had negative sentiments
For Interest Rates and Fees- 22% of people had positive sentiments
- 11% of people had neutral sentiments
- 67% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 35% of people had positive sentiments
- 3% of people had neutral sentiments
- 62% of people had negative sentiments
For Customer Service- 35% of people had positive sentiments
- 3% of people had neutral sentiments
- 62% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 39% of people had positive sentiments
- 20% of people had neutral sentiments
- 41% of people had negative sentiments
For Loan Terms and Flexibility- 39% of people had positive sentiments
- 20% of people had neutral sentiments
- 41% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 72% of people had positive sentiments
- 5% of people had neutral sentiments
- 23% of people had negative sentiments
For Ease of Approval and Process- 72% of people had positive sentiments
- 5% of people had neutral sentiments
- 23% of people had negative sentiments
Wells Fargo’s borrowers often complained about high interest rates, unexpected fees, and poor customer service experiences. Some users found the mobile app user-friendly and efficient, while others found challenges with it.
- Can receive funds as soon as the next business day
- 0.25% autopay discount
- No origination fees or prepayment penalty
- Must have a Wells Fargo checking account to receive autopay discount
- New Wells Fargo customers must visit a branch to apply
- No option to prequalify
Overview: Wells Fargo offers fixed-rate personal loans with limits between $3,000 to $100,000 and repayment terms from 12 to 84 months. 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.
Eligibility:
- Minimum credit score required. Does not disclose
- Minimum annual income. Does not disclose
- Co-borrowers. Not permitted
- Co-signers. Not permitted
Loan uses:
- Debt consolidation
- Home improvement
- Medical bills
BEST FOR FUNDING OPTIONS
PNC Bank
Minimum Credit Score
Does not disclose
APR range
Rates may vary by ZIP code
Loan amounts
$1,000 to $35,000
Does not disclose
Rates may vary by ZIP code
$1,000 to $35,000
PNC Bank is a full-service lender that offers personal loans along with checking and savings accounts, home equity loans and other products.
Why We Like It
PNC Bank offers both term loans and personal lines of credit, allowing you to get the type of funding that’s best for your financial situation.
What We Don’t Like
PNC Bank only operates branches in 28 states and doesn’t lend in all 50.
Who It’s Best For
PNC Bank’s personal loans are best for borrowers who may need a line of credit and live in a state where PNC operates.
Consumer Score
We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5
- # Interest Rates and FeesFor Interest Rates and Fees
- 20% of people had positive sentiments
- 0% of people had neutral sentiments
- 80% of people had negative sentiments
For Interest Rates and Fees- 20% of people had positive sentiments
- 0% of people had neutral sentiments
- 80% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 10% of people had positive sentiments
- 0% of people had neutral sentiments
- 90% of people had negative sentiments
For Customer Service- 10% of people had positive sentiments
- 0% of people had neutral sentiments
- 90% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 100% of people had positive sentiments
- 0% of people had neutral sentiments
- 0% of people had negative sentiments
For Loan Terms and Flexibility- 100% of people had positive sentiments
- 0% of people had neutral sentiments
- 0% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 68% of people had positive sentiments
- 0% of people had neutral sentiments
- 32% of people had negative sentiments
For Ease of Approval and Process- 68% of people had positive sentiments
- 0% of people had neutral sentiments
- 32% of people had negative sentiments
- Offers competitive rates
- Has no origination fees
- Offers autopay rate discounts
- Doesn’t clearly share eligibility requirements
- Loan amounts are low compared to other lenders
Eligibility
- Minimum credit score. Does not disclose
- Minimum income. Does not disclose
- Co-borrowers. Permitted
BEST FOR EAST-COAST BORROWERS
TD Bank
Minimum Credit Score
TD Bank does not disclose this information
APR range
8.99% to 23.99%
Loan amounts
$2,000 to $50,000
TD Bank does not disclose this information
8.99% to 23.99%
$2,000 to $50,000
TD Bank is a bank that operates primarily on the east coast. The lender has branches in 13 states and Washington D.C.
Why We Like It
In addition to offering loans between $2,000 and $50,000, TD Bank’s customer service is available 24/7.
What We Don’t Like
TD Bank only offers loans in 15 states, which are primarily on the east coast.
Who It’s Best For
TD Bank’s personal loans are best for borrowers who live on the east coast and in a state where the bank operates branches.
Consumer Score
TD Bank customers had varying experiences with the lender but were often negative about their interactions. Borrowers weren’t satisfied with account management, customer service and the mobile app.
- # Interest Rates and FeesFor Interest Rates and Fees
- 12% of people had positive sentiments
- 12% of people had neutral sentiments
- 76% of people had negative sentiments
For Interest Rates and Fees- 12% of people had positive sentiments
- 12% of people had neutral sentiments
- 76% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 43% of people had positive sentiments
- 3% of people had neutral sentiments
- 54% of people had negative sentiments
For Customer Service- 43% of people had positive sentiments
- 3% of people had neutral sentiments
- 54% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 43% of people had positive sentiments
- 31% of people had neutral sentiments
- 26% of people had negative sentiments
For Loan Terms and Flexibility- 43% of people had positive sentiments
- 31% of people had neutral sentiments
- 26% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 79% of people had positive sentiments
- 3% of people had neutral sentiments
- 18% of people had negative sentiments
For Ease of Approval and Process- 79% of people had positive sentiments
- 3% of people had neutral sentiments
- 18% of people had negative sentiments
TD Bank customers had varying experiences with the lender but were often negative about their interactions. Borrowers weren’t satisfied with account management, customer service and the mobile app.
- Fast funding in as little as one business day
- No origination, application or prepayment fees
- Option to check personalized rates with no impact on your credit
- Only available in 15 states and Washington, D.C.
- Rate discount only available for TD Bank banking customers
- Late fees of 5% of minimum payment due or $10, whichever is less
Eligibility: TD Bank does not disclose a minimum credit score to take out a loan. As with other lenders, you’ll need a strong credit score to get the lowest rates. We recommend a score of at least 670.
Loan uses: You can use TD Bank personal loans for just about any legal personal expense.
Turnaround time: If you’re approved, you’ll get your funds in as little as one business day.
BEST FOR CO-SIGNED LOANS
U.S. Bank
Minimum Credit Score
Does not disclose
APR range
8.74% to 24.99%
with autopay
Loan amounts
$1,000 to $50,000 for existing U.S. Bank customers and up to $25,000 for new customers
Depends on the area you live in
Does not disclose
8.74% to 24.99%
with autopay
$1,000 to $50,000 for existing U.S. Bank customers and up to $25,000 for new customers
Depends on the area you live in
U.S. Bank is a lender that offers a full range of services and operates branches in 27 states.
Why We Like It
U.S. Bank doesn’t disclose its minimum credit requirements, but the lender allows for co-signers if you don’t meet the eligibility requirements.
What We Don’t Like
U.S. Bank doesn’t allow noncustomers to access its highest loan amount of $50,000 and its longest terms of 84 months.
Who It’s Best For
U.S. Bank personal loans are best for borrowers who are current customers of the bank and may need a co-signer to qualify for the lowest rates.
Consumer Score
We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5
- # Interest Rates and FeesFor Interest Rates and Fees
- 20% of people had positive sentiments
- 4% of people had neutral sentiments
- 76% of people had negative sentiments
For Interest Rates and Fees- 20% of people had positive sentiments
- 4% of people had neutral sentiments
- 76% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 5% of people had positive sentiments
- 2% of people had neutral sentiments
- 93% of people had negative sentiments
For Customer Service- 5% of people had positive sentiments
- 2% of people had neutral sentiments
- 93% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 36% of people had positive sentiments
- 21% of people had neutral sentiments
- 43% of people had negative sentiments
For Loan Terms and Flexibility- 36% of people had positive sentiments
- 21% of people had neutral sentiments
- 43% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 31% of people had positive sentiments
- 3% of people had neutral sentiments
- 66% of people had negative sentiments
For Ease of Approval and Process- 31% of people had positive sentiments
- 3% of people had neutral sentiments
- 66% of people had negative sentiments
The majority of feedback for U.S. Bank was negative, with many borrowers expressing dissatisfaction with the customer service and issues with the loan process. Borrowers reported unexpected fees, delays and problems with loan payoff and documentation.
- Operates physical branches
- 0.50% autopay discount
- Quick funding
- Need a credit score of at least 800 to qualify for the lowest advertised rates
- Smaller loan amounts available to non-U.S. Bank checking customers
- Branch locations in only 26 states
Eligibility
- Minimum credit score. Does not disclose
- Minimum income. Does not disclose
- Co-signers. Permitted
- Co-borrowers. Permitted
Customer service
We called U.S. Bank’s customer service team to test its quality. Compared to other lenders on our list, we waited the second longest for our call to be answered—two minutes and one second. Although the representative was friendly and transparent, they provided most of the information through a sales pitch, which may be unsettling to some prospective borrowers.
U.S. Bank was one of few lenders that provided a specific interest rate based on loan details we provided. While the rep didn’t ask for a credit score to provide the interest rate, its website discloses you need a score of at least 800 to qualify for the lowest rates.
BEST FOR NO FEES
Citi® Personal Loan
Minimum Credit Score
720
APR range
11.49% to 20.49%**
Loan amounts
$2,000 to $30,000
720
11.49% to 20.49%**
$2,000 to $30,000
Citibank is a national personal loan lender that operates branches in 13 states.
Why We Like It
Citibank charges no personal loan fees, including zero late payment fees, prepayment penalties and origination fees.
What We Don’t Like
Although Citibank will lend to residents of any state, the bank only has branches in 13 states.
Who It’s Best For
Citibank personal loans are best for borrowers looking for a loan with no fees and who live in a state where Citibank operates branches.
Consumer Score
Citibank received mixed reviews. Borrowers appreciated the lack of fees and the potential for lower interest rates, but others weren’t satisfied with the payment process, communication issues and persistent calls.
- # Interest Rates and FeesFor Interest Rates and Fees
- 37% of people had positive sentiments
- 38% of people had neutral sentiments
- 25% of people had negative sentiments
For Interest Rates and Fees- 37% of people had positive sentiments
- 38% of people had neutral sentiments
- 25% of people had negative sentiments
- # Customer ServiceFor Customer Service
- 12% of people had positive sentiments
- 75% of people had neutral sentiments
- 13% of people had negative sentiments
For Customer Service- 12% of people had positive sentiments
- 75% of people had neutral sentiments
- 13% of people had negative sentiments
- # Loan Terms and FlexibilityFor Loan Terms and Flexibility
- 60% of people had positive sentiments
- 30% of people had neutral sentiments
- 10% of people had negative sentiments
For Loan Terms and Flexibility- 60% of people had positive sentiments
- 30% of people had neutral sentiments
- 10% of people had negative sentiments
- # Ease of Approval and ProcessFor Ease of Approval and Process
- 39% of people had positive sentiments
- 45% of people had neutral sentiments
- 16% of people had negative sentiments
For Ease of Approval and Process- 39% of people had positive sentiments
- 45% of people had neutral sentiments
- 16% of people had negative sentiments
Citibank received mixed reviews. Borrowers appreciated the lack of fees and the potential for lower interest rates, but others weren’t satisfied with the payment process, communication issues and persistent calls.
- No origination, application or prepayment penalties
- Flexible repayment terms
- Funds may be sent within one business day
- Competitors have lower interest rates
- Loan amount limit is lower than other lenders
Credit Eligibility: You must have excellent credit to be eligible for a Citi® Personal Loan.
Loan uses: You can use your funds for almost any legal personal purpose. However, you can’t use them for education or business.
Turnaround time: Same business day when using direct deposit with a Citi® account, or up to 2 business days when using direct deposit with a non-Citi® account.
Details:
- Loans up to $30,000 with fixed rates from 11.49% to 20.49%**
- Zero fees – no origination fees, no late fees, no prepayment penalty, and no hidden fees
- Quick and easy online application process
- Fast funding when using direct deposit – same day with an existing Citi account, or within 2 business days with a non-Citi account
- Discount for enrolling in automatic payments when you submit your loan application
Disclosure
Terms, conditions, and fees for accounts, products, programs and services are subject to change at any time.
You must be at least 18 years of age (21 years of age in Puerto Rico). Co-applicants are not permitted. Existing Citi deposit and credit card customers who have been a Citi customer for less than 12 months are not eligible for a Citi® Personal Loan.
If you apply online, you must agree to receive the loan note and all other account disclosures provided with your loan origination in an electronic format and provide your signature electronically.
**Rates as of 12-01-2024. Your APR may be as low as 11.49% or as high as 20.49% for the term of your loan. The lowest rate quoted assumes excellent credit and a loan term of 24 or 36 months. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. Citi offers personal loans with a period of repayment between 12 and 60-month terms. For example, if you borrow $10,000 for 36 months at 15.99% APR, to repay your loan you will have to make 36 monthly payments of approximately $351.52.
There is a 0.5% APR discount if you enroll in automatic payments at loan origination. Additionally, existing Citigold and Citi Priority customers will receive a 0.25% discount to the APR. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice.
To check for offers you may qualify for, Citi conducts a soft credit inquiry. If you are presented with an offer and choose to proceed with the application process, Citi will conduct a hard credit inquiry which may have an impact on your credit score.
Citi® Personal Loan proceeds cannot be used to pay for post-secondary education expenses or for business purposes. Credit cards issued by Citibank, N.A. or its affiliates, as well as Checking Plus and Ready Credit accounts, are not eligible for debt consolidation, and Citibank will not issue payoff checks for these accounts. If you are unsure of the issuer on the account, please visit https://www.citi.com/affiliatesproducts for a list of Citi products and affiliates.
If you are approved for a personal loan with Citi, you can get your funds the same day with a Citi deposit account, or up to 2 business days for a non-Citi account when using direct deposit. Or, you can select to receive a check by mail in approximately 5 business days.
Personal loans are made available by Citibank, N.A., Equal Housing lender
Summary: Best Personal Loans From Banks of December 2024
| COMPANY | FORBES ADVISOR RATING | CURRENT APR RANGE | LOAN AMOUNTS | LEARN MORE |
|---|---|---|---|---|
   | 8.99% to 17.99% | $600 to $50,000 | Via MoneyLion’s Website | |
 | 6.99% to 24.49% | $3,000 to $100,000 | Via Fiona.com’s Website | |
| Rates may vary by ZIP code | $1,000 to $35,000 | Via MoneyLion’s Website | |
| 8.99% to 23.99% | $2,000 to $50,000 | Via MoneyLion’s Website | |
| 8.74% to 24.99% | $1,000 to $50,000 for existing U.S. Bank customers and up to $25,000 for new customers | Via MoneyLion’s Website | |
| 11.49% to 20.49%** | $2,000 to $30,000 | On Citi’s Website |
How To Compare Loans from Banks
To find the loan that fits your financial needs, it’s best to compare financing options from different lenders. Although lenders often disclose the information you need to compare options, prequalifying with various lenders can give you a better view of the best loan. Prequalification doesn’t impact your credit score and lets you see the rates and terms a lender may offer you.
Once you’re ready to compare your options, consider these loan features:
- Annual percentage rate (APR). APR, which includes both interest and fees, represents the total cost of borrowing money. In most cases, lower APRs are reserved for borrowers with high credit scores. Keep in mind that other loan features can be just as essential when determining which lender is best for you.
- Terms. A loan’s terms refer to how long you have to repay the loan. Longer loan terms mean lower monthly payments but higher interest costs; shorter loan terms mean lower interest costs but higher monthly payments. A personal loan calculator can help you determine the monthly payments you can afford and, as a result, the terms you need.
- Loan amounts. Loan amounts vary by lender, so compare lenders based on the amount you intend to borrow. Personal loans typically range from $1,000 to $100,000; however, several lenders may offer smaller or larger loan amounts.
- Fees and penalties. Late payment fees, prepayment penalties and origination fees are just some of the additional costs lenders add to loans. If you may miss a payment or intend to repay your loan early, find lenders that don’t impose penalties.
- Perks. Some lenders offer features such as rate discounts for automatic payments or payment deferral if you need forbearance. Depending on your financial situation, these features may set some lenders apart from others.
- Availability. Banks that offer personal loans often don’t have branches in every state. If you’re looking for a lender with brick-and-mortar locations, be sure a location is easily accessible.
How To Qualify for Loans From Banks
Qualifying for a personal loan from a bank can be more challenging than from other lenders. You must meet the requirements for each of these categories:
- Credit score. The minimum credit score requirement varies between banks, which many don’t disclose. Your approval odds are higher if you have a score above 670.
- Income. Minimum income requirements vary widely between lenders and many don’t disclose them. In most cases, you’ll have to show that you have a steady, reliable income and can afford to repay your loan.
- Debt-to-income (DTI) ratio. Lenders will often use your DTI ratio to determine if you can afford to make additional debt payments. Lenders generally look for a DTI ratio of less than 36%.
- Location. Some lenders aren’t qualified to lend in all states. Before submitting an application, confirm whether you’re in a state where the lender does business.
Related: How To Apply For A Personal Loan In 5 Steps
Alternatives to Loans from Banks
Although banks can be a safe option to borrow money, there are alternative ways to get the funding you need, including:
- Credit unions. Personal loans from credit unions often have less strict qualifications and lower borrowing costs compared to banks. While credit unions often have brick-and-mortar locations with in-person customer service, they typically require borrowers to become members.
- Online lenders. Online lenders offer personal loans to a range of borrowers, including those with limited or no income and poor credit history. The loan application and funding process happens exclusively online, with no in-person branches.
- Home equity. If you’ve built equity in your home, you can tap into it with a home equity loan or line of credit. Although these funding options may have lower interest rates than personal loans, the lender can repossess your home if you fail to repay your debt.
- Credit cards. Credit cards can cover short-term financial emergencies but can lead to overspending if you aren’t careful. Be sure to have a plan to repay any money you borrow as credit cards have high APRs, and late payments come with penalties.
- Cash advance apps. Cash advance apps typically offer loans up to $500 with short repayment terms. If repaid by the due date, these loans can come with no interest or fees. However, if payment due dates are missed, fees can make borrowing costly.
- Friends and family. Before borrowing from a lender, consider whether you have friends or family who may be willing to lend you money. If you borrow from a friend or family member, it’s a good rule of thumb to write a promissory note so both parties can agree on the terms.
- Savings. If you’re considering a personal loan for a nonemergency, consider postponing your purchase and saving for it instead. This will increase your spending power because you won’t have to pay interest or fees, and you won’t have ongoing debt payments.
Methodology
We reviewed nine popular banks that offer personal loans based on 20 data points in the categories of customer sentiment index, loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best banks based on the weighting assigned to each category:
- Customer sentiment index. 40%
- Eligibility and accessibility. 17%
- Loan costs. 16%
- Loan details. 15%
- Application process. 7%
- Customer experience. 5%
We also considered several characteristics within each major category, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each bank accepts co-signers or joint applications and the geographic availability of the bank. Finally, we evaluated each bank’s customer support tools, borrower perks and features that simplify the borrowing process—such as prequalification options and mobile apps.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.
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