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Chase Bank personal loan alternatives

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Chase doesn’t offer personal loans, here are your next best options.

One of the reasons why people like working with banks so much is that they let you keep all of your finances in one place. Which is why you might be surprised to learn that Chase is one of several large banks that doesn’t offer personal loans. We take you through some alternatives — both in and outside of Chase — to help you find the most suitable lender for your needs.

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.

3 best Chase personal loan alternatives

Chase might not have personal loans, but that doesn’t mean you’re completely out of options. Instead of applying with a big-name bank, you might want to consider borrowing from an online lender. That’s because banks typically take a long time to process your application and can come with tight credit requirements. Online lenders generally have a simpler application and some will work with all credit types.

Best for a simple online application: LendingClub

LendingClub is one of the first peer-to-peer (p2p) lenders that popped up in the US. Instead of funding the loan itself, LendingClub acts as a platform that connects borrowers with investors. All you have to do is fill out a quick online application to get a risk-free rates quote. If you like what you see, you can continue with your application. It can take up to seven days to get your funds.

You can use your LendingClub personal loan for almost any legitimate expense — except paying for school. Like with most lenders, you need good or excellent credit to get the most competitive rates. It’s also not available in Iowa or West Virginia.

  • How much you can borrow: 1000 to 40000
  • APR: 6.16%–35.89%
  • Loan term: 3 to 5 years
  • Eligibility: You must be over 18 years of age, a permanent resident of the US or an American citizen, have a verifiable bank account and have a steady source of income.

Best for borrowers with good credit: Prosper

Like LendingClub, Prosper is one of the first p2p lenders in the country. You can use its personal loans for just about any legitimate expense, including moving other types of debt into one place with more favorable rates and terms.

You’ll need established credit to qualify. Prosper requires borrowers to have at least three accounts on their credit report to be eligible for a loan. Prosper also isn’t available to residents of Iowa, North Dakota or West Virginia.

  • How much you can borrow: 2000 to 40000
  • APR: 6.95%–35.99%
  • Loan term: 3 to 5 years
  • Eligibility: Must be 18+ years old, an American citizen or US permanent resident and have a 640+ credit score.

Best for established professionals: SoFi

Looking for a lender that offers more than just a loan? SoFi could be what you’re after. This lender offers borrowers career advice, wealth management services and lets you temporarily stop making payments if you lose your job. Through its entrepreneur program, you can also apply for seed investments and get access to resources to help make sure your company’s a success.

SoFi tends to have relatively strict credit and income requirements for an online lender, however. This loan might not be for you if you’ve just finished school and have a low-paying job.

  • How much you can borrow: 5000 to 100000
  • APR: Fixed rates from 7.240%–15.115%; variable rates from 6.495%–12.795%
  • Loan term: 3 to 7 years
  • Eligibility: At least 18 years old and US citizen or permanent resident

What if I want to get a personal loan from another bank?

You can apply for a personal loan from another bank that offers it. Three major US banks that still offer general purpose personal loans include:

  • Wells Fargo — borrow between 3000 and 100000
  • Citibank — borrow between $2,000 and $50,000
  • TD Bank — borrow between $2,000 and $50,000

SunTrust Bank also offers personal loans through LightStream, an online brand tailored to people with excellent credit.

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 loans for specific uses.

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

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

Business owner? Look at a business term loan from Chase.

For all other expenses, there are always Chase 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

Rates last updated September 23rd, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$50,000
4.99%–36% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
580
$100,000
3.09%–35.99% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
580
$100,000
4.99%–35.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.16%–35.89% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
6.990% – 14.865% (fixed)
Payoff Personal Loans
Pay down your debt with a fixed APR and predictable monthly payments.
640
$35,000
5.99%–24.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34%–155% (Varies by state) (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640 FICO®
$35,000
5.99%–29.99% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
640
$35,000
4.99%–29.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$30,000
16.05%–35.99%* (fixed)

Compare up to 4 providers

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.

Frequently asked questions

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Anna Serio

Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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US Personal Loans Offers

Important Information*
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Prosper Personal Loans

Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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