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4 alternatives Capital One personal loans

Pick an online lender or national bank for similar options.

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Capital One doesn’t offer personal loans. But your options aren't limited. You can still find competitive offers from online lenders and national banks in addition to smaller banks and credit unions.

Why doesn’t Capital One offer personal loans?

Loans have never been Capital One’s strong point, so it shouldn’t come as much of a surprise that it no longer offers personal loans. This could be part of a larger trend by big banks to move away from personal lending. It also could be that Capital One wants to focus on what it’s best known for: Credit cards. In fact, it discontinued its mortgage program in 2017 and currently only offers auto loans and business loans to its customers.

4 top alternatives to Capital One personal loans

Although Capital One can’t help with your personal loan needs, one of these lenders might be a good alternative.

Fiona personal loans logo
Finder Rating: 4.25 / 5

★★★★★

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at Fiona personal loans’s secure site

Best for comparing rates: Fiona personal loans

670
Min. Credit Score
4.99%
Starting APR
$100,000
Max Loan Amount

If you aren’t sure where to start, or just want a broad overview of the loans you could qualify for, Fiona is a good choice. After submitting one online form, Fiona can connect you with personalized rates and terms from multiple lenders — all without affecting your credit score. But you won’t have as much control over how it shares your information than you might with another lender.

  • Compare offers without affecting credit
  • Most credit types accepted
  • Loans for most needs available
  • Not a direct lender
  • Shares your information with affiliates
  • Must be 21 to qualify
Loan Amount $1,000 – $100,000
APR 4.99% to 35.99%
Interest Rate Type Fixed
Min. Credit Score 670
Min term 24 months
Max term 84 months
Turnaround Time Varies by lender

Best for a speedy turnaround: LightStream personal loans

Good to excellent credit
Min. Credit Score
Competitive
Starting APR
$100,000
Max Loan Amount

LightStream frequently makes the list of best alternatives to banks because it’s backed by SunTrust. And when you’re looking for a fast lender, it takes the cake: Funds may be available on the same day you apply. You can also take advantage of its rate beat program and generous 0.5% APR discount for signing up for autopay. But you’ll need to have good to excellent credit to qualify. And loan amounts start higher than average — not ideal for smaller emergencies that pop up.

  • Highly competitive rates
  • Funding as soon as the same day
  • High autopay discount
  • Preapproval not available
  • High minimum loan amount
  • No customer service line
Loan Amount $5,000 – $100,000
APR Competitive
Interest Rate Type Fixed
Turnaround Time Varies
Disclaimer
*Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of 3 years would result in 36 monthly payments of $303.99.

Truist Bank is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Best for borrowing from a large bank: Wells Fargo personal loans

Varies
Min. Credit Score
5.99%
Starting APR
$100,000
Max Loan Amount

If you prefer working with a lender face to face, then you might want to consider Wells Fargo. It offers a wide range of borrowing amounts, competitive rates and terms as long as seven years. While you don’t need to have an account with Wells Fargo to apply, you might qualify for a relationship discount of 0.25%. And it’s fast for a bank — you could get your funds as soon as the next business day after approval — if you’re an existing customer.

  • No origination fee
  • Rate discount for customers
  • Long terms available
  • Only current customers can apply online
  • Relatively minimum loan amount
  • Late fee as high as $39
Loan Amount $3,000 – $100,000
Interest Rate Type Fixed
Min term 12 months
Max term 84 months
Turnaround Time As soon as 1 business day

Best for borrowers with good credit: HSBC personal loans

700
Min. Credit Score
6.99%
Starting APR
$30,000
Max Loan Amount

HSBC is a large national bank with personal loan options in 49 states. Unlike many other banks, it doesn’t require excellent credit — and it has a relatively low maximum APR. You may receive your funds the same day you apply, and your first payment won’t be due for 50 days. Interest still accrues, however, so paying earlier can help you save. The biggest downside is its maximum loan amount, which is lower for new customers than existing HSBC account holders. Combined with a high starting loan amount, you’ll want to know the specifics of the expense you’re trying to cover before you fill out an application.

  • No origination fee
  • Same-day turnaround for current customers
  • Deferment for 50 days
  • Lower maximum amount for new customers
  • Might require a branch visit
  • Deferment could cost you more
Loan Amount $3,000 – $30,000
Interest Rate Type Fixed
Min. Credit Score 700
Min term 24 months
Max term 60 months
Turnaround Time 1 business day

How we picked these lenders

When choosing the best alternatives to Capital One, we looked for lenders that have a wide state availability and range of borrowing amounts. We also considered how easy it is to apply and potential interest rates. This selection includes two big banks, one online lender backed by a bank and a connection service that works with legit lenders so you can make the best choice when comparing options similar to Capital One.

Does Capital One offer other loans?

Capital One has a limited selection of financial products, including:

  • Auto loans
  • Business loans
  • Personal credit cards
  • Business credit cards

Read our guide to Capital One's loan options for more information on its auto loan and business loan programs.

What credit score do I need to qualify for a personal loan?

For most online lenders, you will need a fair credit score of at least 600 to qualify. But banks, credit unions and larger online lenders typically require good to excellent credit to qualify. If you're not sure you meet a lender's minimum credit score requirement, reach out to its customer service team before you apply.

Where else can I borrow a personal loan?

Most banks, credit unions and online lenders offer personal loans. With any of these options, you may be able to borrow between $1,000 to $50,000 — although there are some lenders that offer up to $100,000. Interest rates vary widely based on your credit score and finances, so it's best to compare multiple lenders and apply for preapproval before settling on a lender.

Compare more personal loans

To view online lenders and connection services, select your credit score and state. Then click Show me my personalized options.

Name Product Filter Values APR Min. Credit Score Loan amount
Best Egg personal loans
5.99% to 29.99%
600
$2,000 – $50,000
A prime online lending platform with multiple repayment methods.
SoFi personal loans
5.99% to 18.85%
680
$5,000 – $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
Upgrade personal loans
6.94% to 35.97%
600
$1,000 – $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$1,000 – $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
LendingClub personal loans
8.05% to 35.89%
640
$1,000 – $40,000
A peer-to-peer lender offering fair rates based on your credit score.
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Bottom line

Like with many other big banks, Capital One personal loans aren't longer an option. You might want to consider going with an online lender instead or sticking to one of Capital One’s other credit products. Want to learn about more lenders — or how personal loans work in general? Check out our guide to personal loans where we break down everything you need to know.

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2 Responses

    Default Gravatar
    DavidSeptember 12, 2018

    I applied for a loan and they told me in order to get the money i need to pay 300$ to capital one to raise my credit score as soon as i pay the money the loan will be released into my bank answer am trying to find out is that possible or not

      Avatarfinder Customer Care
      JoshuaSeptember 13, 2018Staff

      Hi David,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      There are lenders who only lend money to people who have a good credit score and Capital One is among them. If this is one of the requirements of Capital One, then you have to comply with them to get approved. If not, you have to go elsewhere. This page lists some of your alternatives.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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