Best Banks for Personal Loans in December 2025
Score low rates and fees with an online bank loan
Best bank loan rates
Best banks with the lowest rates for personal loans
Best for: Excellent customer service and no fees – Discover
The APR ranges from 7.99% to 24.99% APR based on creditworthiness at time of application. Loans up to $35,000. Fast & Easy Process. Terms are 36 to 84 months. No prepayment penalty. This is not a firm offer of credit. Any results displayed are estimates and we do not guarantee the applicability or accuracy to your specific circumstance. For example, for a $15,000 loan with an APR of 10.99% and 60 month term, the estimated monthly payment would be $326. The estimated total cost of the loan in this example would be $19,560.
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- Excellent customer service (97% approval rating from LendingTree users)
- No fees
- Get money as soon as the next business day
- Available in all 50 states
- No autopay discount
- Need at least good credit
- Can only borrow up to $40,000
If you want experts to walk you through the personal loan application and repayment process, consider borrowing from Discover . Discover has extended customer service hours, U.S.-based loan specialists and a 97% approval rating from LendingTree users.
But unlike the other lenders on this list, Discover doesn’t offer an autopay discount. You’ll also need a good credit score to qualify for a loan, so take a look at online lenders if your score is fair or below.
You’ll need to meet these eligibility criteria to get a Discover loan:
- Age: Be at least 18
- Citizenship: Have a Social Security number
- Administrative: Have a physical address, email address and internet access
- Income: Minimum income of $40,000 (individually or as a household)
- Credit score: +
Best for: Debt consolidation or home improvement – Laurel Road
The following payment example depicts the APR, monthly payment and total payments made during the life of a personal loan with a single disbursement. All loan rates below are shown with the autopay discount (0.25%) and direct deposit discount (0.25%). The monthly payment for a $30,000 loan with a 60-month term and a fixed annual percentage rate (APR) between 12.95% – 25.03% would be $681.82 – $881.07 in monthly payments, with total payments between $40,909.47 – $52,864.05. Your actual interest rate may be different than the loan interest rates in these examples and will be based on term of loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Lowest rates reserved for the most creditworthy borrowers. See SoFi.com/eligibility for details. Fixed rates from 8.99% APR to 29.99% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors. Loan amounts range from $5,000- $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
- Borrow more (up to $100,000) for debt consolidation, home improvement or major purchases
- Autopay discount
- Competitive rates
- Likely need good credit to qualify
- Not good for small loans (need to borrow at least $5,000)
If you need a home improvement, major purchase or debt consolidation loan, consider SoFi . SoFi offers up to $100,000, but only if you use the money for these purposes — otherwise, you can only qualify for up to $35,000.
While SoFi doesn’t share its exact credit score criteria, it does say that it only accepts “creditworthy borrowers.” Translation? You’ll probably need at least a good credit score to score a loan.
SoFi doesn’t provide much insight into how it evaluates personal loan applications, but you must be at least the age of majority in your state (typically 18 or 19 years old).
While SoFi doesn’t specify a minimum credit score, it does state that it’s able to offer low rates because it works with creditworthy borrowers. The lender may assess this creditworthiness by evaluating your debt-to-income ratio, employment, income and credit history.
Best for: Saving money with a small loan – U.S. Bank
Checking your loan rate generates a soft credit inquiry on your credit report, which is visible only to you. A hard credit inquiry, which is visible to you and others, and which may affect your credit score, only appears on your credit report if and when a loan is issued to you. Your loan APR will depend upon your credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and your credit usage and history. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $16,980 for a term of 36 months, with an interest rate of 13.49% and a 6.00% origination fee of $1,019, for an APR of 17.89%. In this example, the borrower will receive $15,961 and will make 36 monthly payments of $576. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states. For Personal Loans, APR ranges from 8.30% to 36.00% and origination fee ranges from 3.00% to 6.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of July 11, 2022 and are subject to change without notice.
- Save money on interest with a small, short-term loan
- Great for small loans (most bank loans start at $2,000+)
- Autopay discount
- Can only borrow up to $25,000 if you’re not already a LendingClub customer
- No info on what you need to qualify
LendingClub loans are a great option if you want a small, short-term loan to cover a small expense. Other options — like payday loans — can land you in a cycle of debt where you keep borrowing to repay the original loan. If you need more money, you can borrow up to $60,000 if you’re already a LendingClub customer.
If you don’t have a LendingClub account, you can only borrow up to $25,000. LendingClub isn’t clear about what kind of credit you need to get a loan, but you can prequalify and check your rates on its website.
LendingClub considers the following when deciding whether to approve you for a loan:
- Credit score
- Credit history
- Debt-to-income (DTI) ratio
Learn more about personal loan requirements and how lenders like LendingClub make approval decisions.
Why use LendingTree?
$2.8B in funding
In 2024 alone, LendingTree helped find funding for over $2.8 billion in personal loans.
$1,659 in savings
LendingTree users save $1,659 on average just by shopping and comparing rates.
309,000 loans
In 2024, LendingTree helped find funding for over 309,000 personal loans.
When banks compete, you win
You shop around for flights. Why not your loan? LendingTree makes it easy. Fill out one form and get lenders from the country’s largest network to compete for your business.
Tell us what you need
Take two minutes to tell us who you are and how much money you need. It’s free, simple and secure.
Shop your offers
Our users get 18 personal loan offers, on average. Compare your offers side by side to get the best deal.
Get your money
Pick a lender and sign your loan paperwork. You could see money in your account in as soon as 24 hours.
Should you get a bank loan?
You can get loans from banks, credit unions and even online lenders. But is a bank loan the right move for you? Here’s what you need to know.
Pros
-
Low rates
Bank loans tend to come with lower interest rates, making them more affordable than the average loan. -
No (or low) fees
Most banks skip common loan charges like origination fees and prepayment penalties, but you’ll still need to keep an eye out for late fees. -
Existing relationship
Getting a loan from your current bank can make your life easier — you can make automatic payments directly from your checking account (and you’ll likely get a discount for it, too).
Cons
-
Need good credit or better
Banks tend to require high credit scores. If you have a lower score, consider loans for fair credit or bad credit. -
May need to be a customer
Some banks only offer loans to current customers or members. See if your bank is one of them. -
Could get lower rates with an online lender or credit union
Some online lenders like LightStream offer even lower starting rates for excellent credit.
You may assume that banks are the only reputable lenders, but many of the best personal loans come from online lenders and credit unions that also offer low rates and fees.
Ultimately, you won’t care whether your loan came from a bank with a household name or an online lender you’ve never heard of before — you’ll just care about your monthly payment.
Check your rates with multiple lenders to make sure you’re getting the best deal. You could save up to $3,138 on interest alone when you get six or more offers, and marketplaces like LendingTree make it easy to get multiple offers from trusted banks and lenders.
I recently shopped around for a personal loan with 15 different loan providers, including several banks. If I had to do it again, I’d apply with loan marketplaces like LendingTree first, then check my rates with any banks that hadn’t made me offers through the marketplaces.
Banks vs. credit unions vs. online lenders
There’s a reason articles like this one exist — all bank loans are not created equal. But speaking in general terms can help you understand the pros and cons of working with a bank, credit union or online lender.
Here’s a quick table to show you the typical strengths and drawbacks of each.
| Banks | Credit unions | Online lenders | |
|---|---|---|---|
| Send money fast | |||
| Low maximum rates | |||
| Autopay discounts | |||
| Fair or bad credit OK | |||
| Skips upfront fees | |||
| No membership requirements |
= Typically yes
= Sometimes
= Typically no
Calculate your monthly bank loan payments
The lowest bank loan interest rates currently start at around 7.00% – 8.00%, and according to LendingTree data, the average bank loan APR is currently 14.60%.
Use our bank loan calculator to see how different rates and loan terms affect your estimated monthly payment.
Keep in mind you’ll need excellent credit to score the lowest rates — and typically at least good credit — to get a bank loan.
Does your bank offer personal loans?
Not all banks offer personal loans, and some only lend to current customers or require you to become a customer before you borrow. This usually means opening up a checking account.
Banks that offer personal loans to non-customers
- Discover
- SoFi
- TD Bank
- LendingClub
Banks that offer personal loans only to customers or members
Banks that don’t offer personal loans
- Bank of America
- Capital One
- Chase Bank
- Citizens Bank
- Santander Bank Santander has temporarily stopped accepting new personal loan applications.
We systematically rated and reviewed top lenders to show you the top bank loans on the market.
TD Bank, , and didn’t make our final cut, but you can get a personal loan at any of these banks. It’s worth your time to check your rates if you’re already a customer. You can apply online directly on their websites.
Bank of America, Capital One, Chase Bank, Citizens Bank and Santander Bank don’t offer personal loans as of this writing.
What sets LendingTree content apart
Expert
Our personal loan writers and editors have 32 years of combined editorial experience and 28 years of combined personal finance experience.
Verified
100% of our content is reviewed by certified personal finance professionals and meets compliance and legal standards.
Trustworthy
We put your interests first. We’ll tell you about any loan drawbacks and be clear about when to consider alternatives.
Frequently asked questions
Banks that offer loans typically allow you to use them for debt consolidation. If you need to consolidate debt, check our list of banks that offer personal loans or use LendingTree to find a debt consolidation loan.
Applying for a bank loan is essentially the same as applying for a loan with any lender. Learn more about how to apply for a loan.
Here’s a quick summary: Banks typically allow you to apply or check your rates directly on their websites. They’ll pull your credit to make sure you qualify, and once you’re approved and agree to the rates, you can sign a loan agreement. Then, they’ll send you money — typically through direct deposit.
Our methodology
We reviewed more than 12 banks to determine the overall best bank loans. To make our list, lenders must offer bank loans with competitive annual percentage rates (APRs) to customers and non-customers alike. According to our standardized rating system, the best bank loans come from SoFi, Citibank, Discover, Laurel Road and U.S. Bank.
Accessibility. We look for lenders with fewer barriers to approval and award points for lower credit requirements, nationwide access, fast funding and simple applications.
Rates and terms. We prioritize lenders that offer low starting rates, minimal fees, flexible terms and APR discount opportunities.
Repayment experience. We choose lenders with strong reputations, convenient self-service tools, responsive support and borrower-friendly perks.
Why trust our methodology?
LendingTree’s writers and editors diligently vet dozens of lenders to narrow down which ones offer the most affordable rates and a customer-centered experience. We have ongoing conversations with loan companies to ensure accuracy and collect first-person feedback to understand the holistic process of getting and repaying a loan.
Using my financial health counseling certification, I’m here to walk you through the important — and sometimes stressful — process of understanding your personal finances and credit.
Amanda’s experience in editing and financial education helps shape LendingTree articles that are clear, accurate and truly useful to readers. Her certification means our recommendations are built on a foundation of consumer-first financial knowledge — not just numbers.