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Chase Bank personal loan alternatives

Chase doesn’t offer personal loans, but there are similar lenders that do.

Chase is known for its extensive credit card offerings with perks like travel rewards and cash back earnings. It also offers a range of business and home loans – but doesn’t currently offer personal loans.

Here are six alternatives like Chase bank that offer personal loans. These lenders offer competitive rates on personal loans for a range of credit scores, and some have physical locations.

Alternative for a big bank experience: Wells Fargo

Wells Fargo personal loans

Finder Rating: 3.65 / 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

Alternative for poor credit: Upgrade

Upgrade personal loans

Finder Rating: 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 8.99%, 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 https://www.upgrade.com/lending-partners/.

Alternative for all things banking: Axos Bank

Axos Bank personal loans

Finder Rating: 3.6 / 5 ★★★★★

The online bank Axos Bank (formally Bank of the Internet) offers personal loans from $5,000 to $50,000 traditional banking services. It offers decent rates from 7.15% to 17.99% — however, a credit score of at least 720 is required. You can also try for prequalification, and there's no prepayment penalties.
  • Not available in: Hawaii

Alternative for low-cost lending: SoFi

SoFi personal loans

Finder Rating: 4.45 / 5 ★★★★★

SoFi is a top online lender, known for its low rates and lack of origination fees and late fees. Rates start at 7.99% to 23.43%, with terms between 24 to 84 months and loans range from $5,000 to $100,000. Expect to need a credit score of at least 680 or higher. SoFi has some downsides, such as a slow turnaround time of 30 days (after approval). If you're taking on a personal loan for debt consolidation, it doesn't send the funds directly to your creditors.
  • Not available in: Mississippi
Fixed rates from 7.99% APR to 22.73% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 6/15/22 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. 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 above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. 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.

Alternative for low rates: Lightstream

LightStream personal loans

Finder Rating: 4.83 / 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 0.5% APR 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.

Alternative for peer-to-peer lending: Prosper

Prosper personal loans

Finder Rating: 3.42 / 5 ★★★★★

Ready to move on from banks? Prosper is a peer-to-peer online lending platform. Instead of borrowing from traditional financial institutions like a bank, you borrow from individual investors. Rates on Prosper's loans range from 6.99% to 35.99% — on the high end. There's an origination fee of 2.4% to 5%, loan amounts are for $2,000 to $50,000, and terms range from 36 to 60 months. Turnaround time is OK, as funding may take up to five business days. Plan on needing a credit score of at least 600, but with Prosper, coapplicants are accepted.
  • Not available in: Iowa, North Dakota, West Virginia

How we chose these lenders

We compared dozens of lenders before narrowing down to our top six choices. Not many large banks offer personal loans, so we expanded our search to include online and peer-to-peer lenders, as well as lenders that work with all sorts of credit circumstances.

Factors considered include rates, loan amounts, existence of origination fees and late fees, ease of application, lender transparency, credit score requirements, turnaround time, availability, and additional financial products and services.

Why doesn’t Chase offer personal loans?

A lot of banks, including Chase, find that personal loans don’t generate enough money anymore — especially since the 2008 financial crisis brought on new and costly regulations. Some major banks offer personal loans, but they’re few and far between.

Chase also stopped financing student loans in 2013. If you have a previous student loan through Chase, it’s now serviced by Navient. For alternatives, compare these top student loan providers similar to Chase.

What other loans does Chase offer?

Chase offers a range of loans, including auto and home loans and business loans.

Here’s a rundown of the options:

  • Business term loans. Chase small business loans start at $5,000 with terms ranging from one to seven years. It offers business term loans, draw loans and advised lines.
  • Auto loans. Chase offers auto loans into the six figures with terms from 48 to 72 months. Use Chase’s online calculator to estimate payments and rates based on your credit score.
  • Mortgages. Chase offers fixed and adjustable-rate mortgages to qualified borrowers with down payments as low as 3%. It also offers VA loans with 0% down. You can also apply for mortgage refinancing with a cash out option.
  • My Chase Loan. Lets you borrow money from your Chase card’s available credit, which you back at a fixed APR that’s lower than your card’s standard purchase APR.

For other expenses, there are Chase credit cards. Since these tend to have higher APRs than a typical personal loan, consider one of Chase’s 0% introductory APR cards, like its Freedom or Slate cards.

Compare more personal loan options

There are many more lenders in the sea. Compare personalized loan options by your credit score.

1 - 6 of 6
Name Product Filter Values APR Minimum credit score Loan amount
Best Egg personal loans
8.99% to 35.99%
600
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
6.5% to 35.99%
300
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Bankrate
Bankrate
4.98% to 35.99%
Poor to excellent credit
$1,500 to $100,000
Achieve personal loans
7.99% to 29.99%
600
$1,000 to $50,000
Consolidate debt and more with these low-interest loans. Cosigners welcome.
Upgrade personal loans
7.96% to 35.97%
620
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LightStream personal loans
5.99% to 23.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
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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, check out our personal loans guide.

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