Regions Bank loans for business, education and more | finder.com

Regions Bank loans

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Cover your personal, business and education financing needs with this regional bank and its partners.

Regions Bank might only have a reach of 15 states, but you may still qualify for one of its loans. While it offers its own personal, auto and business financing, its partnerships with other lenders mean you might not need to live near a Regions Bank or have an account to be eligible. Customer service can be difficult to navigate, however, and you won’t get the full picture of its loan products from its site.

What types of loans does Regions Bank offer?

You can find the following types of financing at Regions Bank:

Loan typeHow it worksAmountsRatesTerms
Personal loansUnsecured term loans through either Regions Bank or Avant. Regions bank also offers secured personal loan options.$2,000–$35,0007.99%–17.99%Up to 5 years, varies by amount
Business loansTerm loans and lines of credit in partnership with Fundation. Amounts over $1 million available through Regions Bank. SBA and equipment leasing also available through Regions.$15,000–$1,000,0007%–17%1 years–5 years
Car loansNew and used car loans and auto loan refinancing directly through Regions Bank — in addition to help finding a car.$5,000–$100,0006.64%–12.96%3 years–6 years
Student loansRegions directs borrowers to apply for a Sallie Mae Smart Option loan for undergraduate and graduate students.Up to 100% of school-certified costsFixed rates: 5.74%–11.85%5 years–15 years

On top of these options, Regions Bank also offers mortgages and home equity loans.

Why should I consider taking out a loan with Regions Bank?

  • Get started online. Even if your loan requires a personal visit to your local branch, get the basic details out of the way by filling out a quick online application.
  • Partnerships open it up to more borrowers. You don’t need to live in one of the 15 states where Regions Bank operates qualify for many of its loans. Its partners also tend to have more forgiving credit requirements.
  • Unsecured and secured options available. Back your loan with collateral for a more favorable rate or apply for a loan with less personal risk.
  • Discounts for customers. Regions Bank offers rewards points and lower rates to customers who already have a checking account on some of its loans.

Where does Regions Bank fall short?

  • Its site doesn’t tell you everything. You need to call customer service or visit a branch to get the full picture of how its loans work and what to expect.
  • Hard to navigate customer service. Regions Bank has several different customer service lines, and it’s not always clear which one is right for you.
  • Not available in all states. You need to live in one of the 15 states where Regions Bank operates to get a loan funded by Regions. Otherwise, you’ll have to borrow through one of its partner lenders.
  • Fees. While some of Regions’ partners don’t charge fees to apply, if you get a loan through Regions, you might be on the hook for a $150 application fee.

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Rates last updated December 11th, 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
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
550
$100,000
3.84% to 35.99% (fixed)
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$100,000
4.99% to 36% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.95% to 35.89% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
550
$100,000
3.34% to 35.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34% to 155% (Varies by state) (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
7.24% to 15.24% (fixed)
Marcus by Goldman Sachs Personal Loans
Consolidate your debt or pay off large expenses with competitive rates and no fees.
Good to excellent credit
$40,000
6.99% to 24.99% (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)
Avant
Conveniently check your loan options without affecting your credit score.
580
$35,000
9.95% to 35.99% (fixed)

Compare up to 4 providers

Rates last updated December 11th, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
$5,000
$500,000
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
$500
$5,000,000
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
LendingTree Business Loans
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
Credibly Business Loans
Funding to cover business expenses with daily or weekly repayments.
$5,000
$250,000
500+ personal credit score, 6+ months in business, $15,000+ average monthly deposits
National Funding Small Business Loans
Working capital loans and equipment financing, some high-risk industries may be eligible.
$5,000
$500,000
Be in business at least one year and make at least $100,000 in annual sales. Other loan types have additional requirements.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
$5,000
$300,000
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
$5,000
$500,000
500+ personal credit score, 1+ years in business, $100,000+ annual revenue
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
$5,000
$500,000
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.

Compare up to 4 providers

Rates last updated December 11th, 2018

Reveal your potential loan offers and rates

Answer two quick questions to filter the loan offers and get the best one for you.

Select your credit score range

I don't know my credit score

Finally, select where you live.

To get your credit score:

Experian logo

Experian is a leading provider of personal and business credit reporting. Find out your FICO score now for less than the cost of a cup of coffee.

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 Term of Loan Requirements
car.Loan.com Car Loans
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Auto Credit Express Car Loans
Get connected with an auto lender near you, even if you have bad credit.
300
Typically 3 to 6 years
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
LightStream Auto Loans
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Good to excellent credit
Flexible terms
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
RateGenius Auto Loan Refinance
Connect with a network of over 150 lenders to refinance your car loan.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
LendingClub Auto Refinancing
Lower your monthly car payments and save on interest through a fast and easy online application process.
Fair or better credit
Minimum of 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
MotoRefi Car Loan Refinancing
A car loan connection service for borrowers looking to refinance.
525
1–6 years
Must have an income of at least $2,000/month and have a vehicle with less than 100,000 miles.
LendingTree Auto Loans
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
Good to excellent credit
Typically 1 to 7 years
Must be a US citizen and 18+ years old. Must have good to excellent credit.

Compare up to 4 providers

Rates last updated December 11th, 2018
Name Product Min. Credit Score Max. Loan Amount APR Product Description
Credible Private Student Loans
Good to excellent credit
Varies by lender
3.94% (As low as) (variable)
Get prequalified rates from private lenders offering student loans with no origination or prepayment fees.
EDvestinU Private Student Loans
675
$200,000
4.326% to 10.32% (fixed)
Straightforward student loans for undergraduate and graduate students.
CommonBond Private Student Loans
700
$500,000
3.20-7.25% (fixed)
Finance your college education through this lender with a strong social mission and terms that fit your budget.
LendingTree Student Loans
Good to excellent credit
Varies by lender
3% (As low as) (fixed)
Compare multiple student loans and student loan refinancing options in one place.

Compare up to 4 providers

How much does it cost to borrow with Regions Bank?

It mainly depends on whether you get financing from Regions or one of its partners. Loans funded by Regions typically come with a $150 application fee, which is added to your loan amount when you’re approved. It also charges a $15 late fee if one of your repayments doesn’t go through.

Other fees might apply if you get a loan through another lender.

Are Regions Bank loans safe?

Generally, yes. Regions Bank protects any information you submit online with SSL encryption. While it shares some of your personal information with affiliates for marketing and business purposes, you can always opt out by calling 800-240-2948.

However, it doesn’t offer specifics about how it protects your information you’ve already submitted. It meets federal standards by stating its “computer safeguards and secure files and buildings.” Also, keep in mind that it doesn’t share privacy policies with its partners — and some applications take place on third-party sites.

How to apply for a Regions Bank loan

Since Regions Bank works with several partner lenders, the application process can vary widely. Here’s how to get started:

  1. Go to the Regions Bank site.
  2. Click on either Personal or Business, depending on what type of financing you’re looking for.
  3. Click Borrow and select the type of loan you’re interested in.
  4. Scroll down until you see the specific type of loan you’re interested in and click Apply now.
  5. Follow the directions to complete the application. Some applications direct you to a third-party site. In that case, click Continue.
  6. Wait to receive an offer. How long this takes depends on several factors, including the loan type, amount and whether you’re applying for financing from Regions or a partner. Most of its partners are online lenders and typically get back to you faster than Regions can — sometimes within a business day.
  7. Submit any required documents and review your final offer.
  8. Sign your loan documents and wait to receive your funds.

Eligibility requirements

Again, since Regions Bank partners with several different lenders, there are no fixed eligibility requirements. You’ll typically need to be a US citizen or permanent resident to qualify for most loans, however.

Luckily, this means that you might be eligible if you have less-than-perfect credit or don’t live in one of the states where Regions operates. However, you might not qualify for the most competitive rates.

What does the Internet say about Regions Bank?

Regions Bank doesn’t have a strong online reputation. It’s accredited with the Better Business Bureau (BBB), which gives it an A+ rating based on factors like how it responds to customer complaints and transparency in advertising. However, nearly all of its 36 customer reviews are negative as of September 2018. On top of this, almost 550 customers have filed complaints against the bank.

It gets a meaningless 7.4 out of 10 score on Trustpilot based on one five-star review. The main complaint about Regions Bank is its poor customer service. Several customers reported waiting on hold for 15 to 20 minutes at a time — and then not having their issue solved once they got through. Many also complained that they were accidentally charged fees, and had trouble getting reimbursed.

If you borrow through Fundation, however, customer service shouldn’t be much of a problem. It’s a lot easier to get in touch — in our experience — and agents go above and beyond when answering questions. Fundation gets an A+ rating from the BBB.

More about the company

Regions Financial Corporation was founded in 1971 after the merger of the First National Bank of Huntsville, the First National Bank of Montgomery and the Exchange Security Bank of Birmingham — which goes back to the 19th century. It was originally known as First Alabama Bancshares Inc. In 1986, extended its reach beyond Alabama when it purchased other small banks in nearby states, finally changing its name to Regions in 1994.

It was key in setting up a state-wide network of ATMs that anyone could use regardless of their bank in 1986. It was also one of the first banks to set up a customer service and account information line in 1987. Now, it has $125 billion in assets, and 1,500 offices and 1,900 ATMs across 15 states in the South and Midwest.

Bottom line

By partnering with lenders like Avant, Fundation and Sallie Mae, Regions Bank offers loans to more people than it could on its own. But its financing options might be best for current Regions customers — you typically need to have a Regions Bank account to be eligible for the most competitive rates and earn rewards.

To find out more about your personal loan options, check out our loans guide. There, you can compare even more lenders and learn how it all works.

Frequently asked questions

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US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Monevo Personal Loans

Quickly compare multiple online lenders with competitive rates depending on your credit score.

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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