Best Banks for Personal Loans in 2025

Personal loans hit different in 2025. Interest rates are shifting, and banks are getting pickier about who they'll lend to. But here's the good news—competition means better deals for smart borrowers.

We've compared the top banks offering personal loans this year. From traditional giants to online-only lenders, each has different strengths. Some excel at low rates for perfect credit. Others welcome borrowers with less-than-stellar scores.

You'll discover which banks offer the fastest approvals, lowest fees, and most flexible terms—plus exactly what it takes to qualify for their best rates.

Top Traditional Banks for Personal Loans

Finding the right bank for a personal loan can save you thousands. Traditional banks offer stability and relationship perks that online lenders can't match.

Wells Fargo Personal Loans

Wells Fargo offers personal loans from $3,000 to $100,000 with competitive rates for existing customers. You'll get the best deal if you already bank with them.

Loan Details & Requirements
APR ranges from 7.49% to 23.24%, depending on your credit score and relationship with the bank. Repayment terms stretch from 12 to 84 months. You'll need a minimum credit score of 660 and proof of steady income.

The application process is straightforward. Apply online or visit a branch. Funding typically happens within 1-7 business days after approval. Here's the sweet part—existing customers often get rate discounts and faster processing.

Relationship Banking Perks
Wells Fargo rewards loyalty. If you have a checking account, savings account, or mortgage with them, you might qualify for a 0.25% rate reduction. Plus, you can set up automatic payments from your Wells Fargo account for another 0.25% discount.

The bank's digital tools let you manage everything online. Track your loan balance, make payments, and even apply for additional credit through their mobile app. Customer service is available 24/7 if you need help.

Why Choose Wells Fargo
Wells Fargo works best for people who want to keep their banking simple. If you're already a customer, the rate discounts and streamlined process make it worth considering. The wide loan range means it works for both small expenses and major purchases.

However, rates can be higher for new customers without existing relationships. Shop around with SuperMoney's personal loan marketplace to compare offers before committing.

Bank of America Personal Loans

Bank of America discontinued traditional personal loans in 2020 and doesn't currently offer them. However, they provide alternatives for existing customers.

If you're already banking with BofA, you can access their balance transfer credit cards. These work like personal loans for debt consolidation. You'll get promotional 0% APR periods—sometimes up to 18 months.

Here's where it gets interesting. Bank of America's Preferred Rewards program gives you serious perks. The higher your tier, the better your rates and terms. Gold members get 25% rate reductions on credit cards. Platinum gets 50%. Diamond members? They score 75% off fees.

Application Process and Digital Tools

Bank of America's mobile app makes everything simple. You can check pre-qualified offers without hurting your credit score. The whole process takes about 10 minutes online.

Their digital tools show you exactly how much you'll save with different payment plans. No surprises. No hidden fees.

Customer service runs 24/7 through their app chat. You can also visit any of their 4,000+ branches if you prefer face-to-face help.

Credit Requirements and Income Verification

You'll need good to excellent credit (670+ score) for the best deals. Bank of America wants to see steady income too. They'll verify through pay stubs or tax returns.

Existing customers get faster approval. Why? They already know your banking history. Less paperwork means quicker decisions—sometimes same-day approval.

If your credit needs work, check out credit building options first. A higher score means thousands in savings over your loan term.

Chase Personal Loans

Chase personal loans are only available to existing customers who have held a checking account for at least 12 months. Current customers can get APRs starting around 6.99% to 24.99%, depending on creditworthiness.

You can borrow between $1,000 and $50,000 with repayment terms from 3 to 7 years. That flexibility means you can pick monthly payments that actually fit your budget. No origination fees either—what you borrow is what you get.

The real win? Chase's digital banking tools make managing your loan dead simple. You can check balances, make payments, and even set up autopay (hello, 0.25% rate discount) all from their mobile app. Plus, if you've got other Chase accounts, everything shows up in one dashboard.

Credit Requirements and Income Verification

You'll need a credit score of at least 660 to qualify, though Chase prefers scores above 700 for their best rates. They're pretty strict about income verification too—expect to provide recent pay stubs, tax returns, and bank statements.

The good news? Chase considers your full financial picture. If you've got a solid relationship with them (checking account, credit card, mortgage), they might approve you even if your credit score is on the lower end of their range.

Processing typically takes 1-3 business days once you submit all documents. Not the fastest in the game, but pretty standard for traditional banks. You can apply online or visit a branch if you prefer face-to-face service.

Best Online Banks and Lenders

Online lenders often beat traditional banks with faster approvals and competitive rates for personal loans.

SuperMoney Personal Loan Marketplace

SuperMoney stands out as a comparison platform that connects borrowers with multiple lenders in one place.

This marketplace approach saves you time and protects your credit score. You fill out one application and get matched with lenders from their network. No need to shop around and trigger multiple credit checks.

How SuperMoney Works

The platform uses your financial profile to match you with suitable lenders. You can compare rates, terms, and fees side by side. This transparency helps you make informed decisions without the guesswork.

SuperMoney's network includes both traditional banks and online lenders. This variety means better odds of approval, even if your credit isn't perfect. The platform also provides educational resources to help you understand loan terms.

Rate Shopping Benefits

One major advantage is rate shopping without multiple credit inquiries. Hard credit pulls can temporarily lower your credit score. SuperMoney's soft credit check gives you rate estimates without the damage.

The platform shows you realistic approval odds before you commit. This feature prevents wasted applications and disappointment. You'll know upfront which lenders are likely to approve your loan.

Customer reviews consistently praise SuperMoney's user-friendly interface and helpful customer service. The platform has helped thousands of borrowers secure competitive rates through their extensive lender network.

PersonalLoans.com Network

PersonalLoans.com connects you with multiple lenders through one simple application. No need to shop around—they do the heavy lifting for you.

Loan Details:

• Amounts: $1,000 to $35,000
• APR: 5.99% to 35.99%
• Terms: 2 to 7 years
• Quick online application

What Makes Them Different:

PersonalLoans.com works with a network of over 100 lenders. You fill out one form, and they match you with potential lenders based on your profile.

The platform doesn't charge application fees. You only pay if you accept a loan offer. Their network includes both traditional banks and alternative lenders.

Bad Credit Options:

Here's the good news—they work with borrowers who have less-than-perfect credit. Some network lenders specialize in bad credit personal loans, though rates will be higher.

The application takes about 5 minutes. You'll get matched with lenders within minutes, and funding can happen as fast as the next business day.

Approval Process:

PersonalLoans.com uses a soft credit check for initial matching. This won't hurt your credit score. Only when you accept an offer does the lender perform a hard credit check.

You'll need basic info: income, employment, and bank account details. Most lenders require a minimum credit score of 580, but some network partners go lower.

The platform shows you multiple offers side-by-side. Compare rates, terms, and fees before choosing. It's like having a personal loan shopping assistant.

Lenme Peer-to-Peer Platform

Peer-to-peer lending cuts out traditional banks and connects borrowers directly with individual lenders.

Lenme stands out in the P2P space with its crypto-backed loan options and mobile-first approach. You can borrow between $100 and $5,000 through their app. What makes them different? They accept cryptocurrency as collateral, which opens doors for borrowers who might not qualify elsewhere.

Their machine learning risk assessment tool analyzes your profile beyond just credit scores. This means you might get approved even with less-than-perfect credit. The app handles everything from application to funding, making it super convenient for tech-savvy borrowers.

The downside? Loan amounts are smaller than traditional banks. Interest rates can also be higher since individual lenders set their own terms. But if you need quick cash and have crypto assets, Lenme offers a unique solution that most banks can't match.

Specialized Lending Options

Finding the right personal loan gets tricky when you don't fit the typical borrower profile. Maybe your credit score isn't perfect. Or you need funding for career training. These specialized lenders fill those gaps.

BadCreditLoans for Poor Credit

Bad credit doesn't mean you're out of options. Some lenders specialize in helping borrowers with credit scores below 580.

Credit Score Requirements and Flexibility

BadCreditLoans is a lending marketplace that connects borrowers with credit scores as low as 500 to potential lenders. They don't rely solely on your credit score to make decisions. Instead, they look at your current income and ability to repay the loan.

Most traditional banks require credit scores of 660 or higher for personal loans. BadCreditLoans fills this gap by connecting you with lenders who understand that past credit issues don't define your current financial situation.

Alternative Approval Criteria

These lenders focus on your employment history and monthly income rather than just your credit report. You'll need to show proof of steady income for at least three months. They also consider your debt-to-income ratio and banking history.

Some lenders in their network even accept alternative income sources. This includes freelance work, disability benefits, or retirement income. The key is proving you can make monthly payments consistently.

Interest Rates for Subprime Borrowers

Expect higher rates than prime borrowers pay. APRs typically range from 5.99% to 35.99% for bad credit personal loans. While this seems steep, it's often cheaper than payday loans or credit card cash advances.

Your exact rate depends on several factors. These include your credit score, income level, and loan amount. Borrowers with scores closer to 600 usually qualify for the lower end of this range.

Loan Terms and Repayment Options

Most bad credit lenders offer terms between 3 months to 6 years. Longer terms mean lower monthly payments but more interest paid overall. Shorter terms cost more monthly but save money on total interest.

Many lenders allow early payoff without penalties. This lets you save on interest if your financial situation improves. Some also offer payment flexibility during hardships, though this varies by lender.

Before applying, check if improving your credit score might help you qualify for better rates elsewhere.

Career Bond for Education Financing

Career Bond stands out as a specialized lender focused on trade school and career training programs. This makes it perfect for entrepreneurs looking to upskill or pivot into new industries.

Loan Details and Requirements

Career Bond offers funding for both traditional trade schools and online career programs nationwide. They don't use credit cutoffs like traditional banks. Instead, they focus on your earning potential after completing your program.

You'll need to make a down payment, but the exact amount varies by program. The application process is streamlined for busy professionals who can't spend weeks gathering paperwork.

Why It's Different

Most banks won't touch education loans for non-traditional programs. Career Bond fills this gap by partnering directly with schools and training providers. They understand that a coding bootcamp or HVAC certification can boost your income just as much as a college degree.

The approval process considers your career goals and program outcomes rather than just your current credit score. This approach works well for entrepreneurs who might have irregular income but strong business prospects.

Career Bond particularly excels for online programs where traditional student loans aren't available. If you're looking to add skills while running your business, their flexible terms make it easier to manage both education and cash flow.

Key Comparison Factors

Interest Rates and Fees

Your loan's APR can make or break your budget. It's the biggest factor in how much you'll actually pay back.

Traditional banks typically offer APRs between 6% and 36% for personal loans. Wells Fargo starts around 7.49% for excellent credit borrowers, while Bank of America offers balance transfer credit cards with promotional rates. Chase provides competitive rates but reserves their best deals for existing customers with strong banking relationships.

Online lenders often beat traditional banks on rates. PersonalLoans.com connects you with lenders offering rates as low as 5.99% APR for qualified borrowers. SuperMoney's marketplace lets you compare multiple offers without hurting your credit score. This shopping approach can save you thousands over your loan term.

Watch out for fees that inflate your costs. Most traditional banks charge origination fees between 1% and 6% of your loan amount. That's $300 to $1,800 on a $30,000 loan. Some online lenders skip origination fees entirely, making them cheaper even with slightly higher APRs.

Credit-challenged borrowers face steeper costs. BadCreditLoans specializes in connecting borrowers with fair or poor credit to lenders, though rates can reach 35.99% APR. Career Bond offers an alternative for career training funding with no credit cutoffs, though down payments are required.

Rate Shopping Tips

• Get pre-qualified with multiple lenders in a 14-day window to minimize credit impact
• Factor in all fees, not just the APR
• Consider autopay discounts (usually 0.25% rate reduction)
• Check if your bank offers relationship discounts

Understanding how your credit score works helps you target lenders more likely to approve you at competitive rates.

Loan Terms and Flexibility

Repayment periods matter more than you think. Most banks offer 2-7 year terms for personal loans. The sweet spot? Usually 3-5 years for most borrowers.

Wells Fargo gives you 1-7 years to pay back your loan. Their monthly payment calculator shows exactly what you'll owe. No prepayment penalties either—pay it off early without extra fees. You can even change your payment date once per year if your budget shifts.

Bank of America offers balance transfer credit cards with promotional periods typically ranging 12-21 months. Their autopay discount knocks 0.25% off your rate. Plus, you get a 10-day grace period if you're late on payments. Not bad for peace of mind.

Chase offers 3-7 year repayment windows. Their digital tools let you see how different term lengths affect your monthly payment. Want to pay extra toward principal? Go for it—no penalties.

Online lenders like PersonalLoans.com typically offer 2-7 year terms across their network. The flexibility depends on which lender you match with. Some allow payment date changes, others don't.

BadCreditLoans connects you with lenders offering terms typically ranging from 3 months to 6 years. The actual terms depend on the specific lender in their network.

Payment Flexibility Features:

• Autopay discounts (most banks offer 0.25% off)
• Grace periods (typically 10-15 days)
• Payment date changes (once per year at most banks)
• Early payoff options (check for penalties first)

Here's the thing about loan terms: longer periods mean lower monthly payments but more interest paid overall. A $10,000 loan at 8% APR costs $202/month over 7 years but $313/month over 3 years. You'll pay $2,768 more in interest with the longer term.

Career Bond works differently since they fund trade school programs. Their terms align with your program length—usually 6-24 months. Down payments are required, but they don't have strict credit cutoffs.

Most lenders let you make extra payments toward principal. This can save you hundreds in interest. Just make sure there's no prepayment penalty hiding in the fine print.

Want to improve your chances of getting flexible terms? Work on your credit score first. Better credit means better options.

Traditional banks usually win on payment flexibility, while online lenders often offer more term length options.

Application and Approval Process

Getting approved for a personal loan doesn't have to be rocket science. Most banks offer both online and in-branch applications, but the speed and requirements vary big time.

Online vs. In-Branch Applications

Most lenders now push digital-first applications. Wells Fargo and Bank of America let you apply online in under 10 minutes. Chase requires you to be an existing customer for their personal loans, but their online portal is streamlined.

Online platforms like PersonalLoans.com shine here. They connect you with multiple lenders through one application. No branch visits needed. BadCreditLoans works similarly, matching you with lenders who work with lower credit scores.