Regions Bank loans

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

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Regions Bank

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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–$50,000 7.99% to 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–$1,000,000 7% to 17% 1 to 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–$100,000 4.05% to 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: 4.74% to 11.35% 5 to 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.

Compare more loan providers

Updated January 23rd, 2020
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Credible Personal Loans
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Fiona Personal Loans
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Even Financial Personal Loans
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NetCredit Personal Loans
34% to 155% (Varies by state)
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Monevo Personal Loans
3.99% to 35.99%
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6.49% to 17.99%
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LendingClub Personal Loan
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SoFi Personal Loan Fixed Rate (with Autopay)
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Updated January 23rd, 2020
Name Product Filter Values Min. Amount Max. Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
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National Business Capital Business Loans
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is.
OnDeck Small Business Loans
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
First Union Lending Unsecured Long-Term Business Loan
450+ credit score, 3+ months in business, $15,000+ monthly revenue, no open bankruptcies
Unsecured funding and more for all credit types.
Sheer Funding Business Loans
6+ months in business, 550+ credit score, $150,000+ annual revenue, eligible industry
Multiple financing options available for business owners with less-than-perfect credit scores.
Efundex long-term business loans
2+ years in business, 620+ credit score, not a sole proprietorship or nonprofit, strong financial history
Financing for high-risk industries with transparent rates and terms.
Kabbage Small Business Line of Credit
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
LendingTree Business Loans
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Varies by lender, but many require good personal credit, minimum annual revenue and minimum time in business
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Lendio Business Loan Marketplace
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.

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Updated January 23rd, 2020
Name Product Filter Values Minimum credit score APR Loan term Requirements Car Loans
Varies by network lender
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Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
SuperMoney Auto Purchase Loans Marketplace
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Fair to excellent credit, an income source, US citizen or permanent resident, 18+ years old
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CarsDirect Auto Loans
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Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
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Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
3.99% to 35.99%
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LightStream Auto Loans
Good to excellent credit
2 to 7 years
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LendingTree Auto Loans
Good to excellent credit
Starting at 3.09%
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18+ years old, good to excellent credit, US citizen
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Updated January 23rd, 2020
Name Product Min. Credit Score Max. Loan Amount APR
Credible Labs Inc. (Student Loan Platform)
Good to excellent credit
Varies by lender (typically, total certified costs of education minus financial aid already received)
Starting at 2.84% with autopay
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Edvisors Private Student Loan Marketplace
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EDvestinU Private Student Loans
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CommonBond Private Student Loans
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LendingTree Student Loans
Good to excellent credit
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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.

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