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Charles Schwab Pledged Asset Line review

Access funds from your Schwab investment portfolio with this line of credit.

  • Best for borrowers with at least $100,000 in eligible assets in a Charles Schwab account.
  • Pick something else if you don't want to risk your investments for a line of credit.
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Max. Loan Amount



Min. credit score


Min. Loan Amount$100,000
Loan Amount$20,000,000
Interest Rate TypeVariable
Min. credit score
Late Fee$25
Loan termNo data available

Review by

Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.

Expert review

A Pledged Asset Line from Charles Schwab is ideal for current customers looking to take advantage of their investments without selling them. You can borrow against up to $20 million in investments held in a Pledged Account. There are no set-up fees, and your line will have a flexible repayment schedule with no set term.

But there are inherent risks to borrowing against your assets, and with a minimum loan amount of $100,000, this isn’t a good option if you just need access to a small amount of funds. Charles Schwab also reserves the right to change your interest rate at any time without notice.

Not sure you want to use your Pledged Account as collateral? Compare your unsecured personal loan options below.

You can’t get a personal loan from Chase. But you might find rates, terms and loan amounts close to what Chase might have offered with lenders like LightStream, Upgrade or Wells Fargo. Wells Fargo gets you the large national bank experience, while LightStream and Upgrade have more streamlined applications and flexible credit requirements.

Why doesn’t Chase offer personal loans?

Like several other big banks, Chase doesn’t currently offer personal loans. This could be because a lot of banks simply find that general personal loans just can’t make them that much money anymore — especially since the 2008 financial crisis brought on new, more costly regulations. You can still get car loans, home loans and business loans through Chase, however.

It could also be that Chase is focusing on its strengths: credit cards, car loans and mortgages. Credit cards in particular are its strong suit, with nearly 25 options ranging from cards that can help you rack up miles on your favorite airline to a card that lets you earn points every time you buy a cup of coffee.

How did we choose these lenders?

To help you find the best alternative to Chase, we picked two personal loans backed by banks. These offer competitive terms for borrowers with good to excellent credit. For borrowers with fair credit, we selected a well-known online provider with a large national reach to ensure borrowers across the US have access to funding.

Best for debt consolidation

LightStream personal loans

4.8 / 5 ★★★★★

As the lending arm of SunTrust Bank, LightStream's low potential rates and maximum loan amount of $100,000 makes it a solid choice for consolidating debt. It's also one of the few lenders that offers a rate beat program on top of a discount for signing up for autopay. However, you'll need good to excellent credit to qualify. And it's not ideal for borrowing smaller amounts — its loans start at $5,000.
  • Available in all states
*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.
  • Highly competitive rates
  • Rate Beat Program
  • May be able to get your funds the same day
  • No origination fee
  • No customer service phone number
  • No preapproval process
  • Large minimum loan amount of $5,000
Loan amount$5,000 to $100,000
APR7.49% to 25.49%
Interest Rate TypeFixed
Min. credit scoreGood to excellent credit
Turnaround TimeAs soon as same day
Maximum Loan Term12 years
Minimum Loan Term2 years

Best for fair credit

Upgrade personal loans

4 / 5 ★★★★★

Upgrade may not have the lowest rates out there, but it accepts fair-credit borrowers with scores as low as 620. It's also available in 45 states, which gives it the same reach as national banks like Chase. And while you can only borrow up to $50,000, you likely wouldn't qualify for larger amounts anyways if you only have fair credit. However, with a potentially high origination fee up to 9.99%, it could get pricey. It's also not the fastest lender out there — it could take up to five days for the funds to reach your bank account.
  • Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia

Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at

  • Flexible loan options
  • No prepayment penalty
  • Quick turnaround
  • Inflexible loan terms
  • High origination fee of up to 9.99%
  • Must have at least $1,000 left over after monthly expenses
  • Stricter eligibility criteria for self-employed applicants
Loan amount$1,000 to $50,000
APR8.49% to 35.99%
Interest Rate TypeFixed
Min. credit score620
Turnaround Time1 to 4 business days
Maximum Loan Term7 years
Minimum Loan Term2 years

Best for borrowing from a large national bank

Wells Fargo personal loans

3.6 / 5 ★★★★★

Wells Fargo is a national bank like Chase, and its personal loans are some of the most competitive out there. It offers both secured and unsecured options, as well as lines of credit for borrowers with good to excellent credit. Rates start at a relatively low 5.99%, though its maximum APR is on the higher side at 24.49%. If you're a current customer with a qualifying account, you could even score an autopay and loyalty discount up to 0.5%. And while it offers an online application to existing customers, you'll need to visit a branch to apply in person if you don't have a Wells Fargo account.
  • Available in all states
  • No origination fee
  • Multiple APR discounts available
  • Coapplicants welcome
  • Hefty late fee of $39
  • Online application for current customers only
Loan amount$3,000 to $100,000
APR7.49% to 23.24%
Interest Rate TypeFixed
Min. credit scoreVaries
Turnaround TimeAs soon as 1 business day
Maximum Loan Term7 years
Minimum Loan Term1 year

What other banks offer personal loans?

A few other major banks around the US that offer personal loans includes:

  • HSBC— borrow between $3,000 and $50,000
  • Citibank— borrow between $2,000 and $50,000
  • TD Bank— borrow between $2,000 and $50,000
Compare personal loan offers from banks

Does Chase offer any similar loans?

Sort of. While you can’t get a multi-use personal loan from Chase,the bank offers other types of loansfor specific uses.

Need to buy a car or trade in your current car loan? Considerlooking into Chase’s auto loans.

Want to buy a home or refinance your mortgage? You might want tocheck out Chase’s mortgages.

Business owner? Look at abusiness term loan from Chase.

For all other expenses, there are alwaysChase credit cards. Since these tend to come with higher APRs than your typical personal loan, you might want to restrict it to small expenses or take out a new card that offers a 0% introductory APR, like its Freedom or Slate cards.

Compare more personal loan options

1 – 6 of 6
Name Product Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Rating: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
LightStream personal loans
Finder Rating: 4.8 / 5: ★★★★★
LightStream personal loans
7.49% to 25.49%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
PenFed Credit Union personal loans
Finder Rating: 3.6 / 5: ★★★★★
PenFed Credit Union personal loans
7.99% to 17.99%
$600 to $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Upstart personal loans
Finder Rating: 4.2 / 5: ★★★★★
Upstart personal loans
6.40% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Credible personal loans
Finder Rating: 4.3 / 5: ★★★★★
Credible personal loans
4.60% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
First Premier Lending
Not rated yet
First Premier Lending
5.99% to 35.99%
All credit types
$100 to $20,000
Short-Term Loans to Fit Your Needs

Bottom line

Chase might not offer personal loans, but there are other options out there that might better fit your needs. If you’d like to keep your finances with this bank, you might want to go for one of Chase’s other loan or credit card options.

If you’re open to other providers, you might want to consider applying for a personal loan with an online lender instead. To learn more about personal loans and find a lender that works for you, visit our personal loans guide.

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