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Regions Bank loans

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

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Regions Bank
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–$50,0007.99% 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–$1,000,0007% to 17%12 to 60 months
Car loansNew and used car loans and auto loan refinancing directly through Regions Bank — in addition to help finding a car.$5,000–$100,0004.05% 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: 4.25% to 12.35%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

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Upstart personal loans
7.35% to 35.99%
580 or 620 depending on state of residence
$50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Credible Personal Loans
4.99% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
LendingTree Personal Loans
Starting from 3.99%
Good to excellent credit
$50,000
Receive up to five loan offers in just minutes through LendingTree's simple online form.
SoFi personal loans
5.99% to 16.19%
680
$100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LightStream
Varies
Good to excellent credit
$100,000
Borrow up to $100,000 with low rates and no fees.
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Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$4,000 – $300,000
5.49% to 22.79%
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 300
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Fundera business loans
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
Kickpay e-commerce business loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Credibly business loans
$5,000 – $250,000
6+ months in business, $180K annual business revenue, 500+ credit $15K+ in monthly deposits
Funding to cover business expenses with daily or weekly repayments.
SmartBiz business loans
$30,000 – $5,000,000
4.75% to 7.00%
650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years
Get funding for your small business with a government-backed loan and extended repayment terms.
LendingClub business loans
$5,000 – $500,000
9.77% to 35.98%
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
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo business loans
$500 – $100,000
3.99% to 35.99%
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.
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Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% - 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies
car.Loan.com Car Loans
300
Varies by network lender
Varies by lender
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
600
Varies by lender
Varies by lender
Fair to excellent credit, an income source, US citizen or permanent resident, 18+ years old
Find an offer and get rates from competing lenders without affecting your credit score.
CarsDirect auto loans
Varies by network lender
Varies by network lender
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
300
Varies
Varies
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.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
LightStream Auto Loans
Good to excellent credit
Competitive
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
LendingTree
Good to excellent credit
Starting at 3.09%
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Min. Credit Score Max. Loan Amount APR
Discover undergraduate student loans
Not stated
Cost of attendance
Variable APRs: 1.24% - 10.99%
Fixed APRs: 4.49% - 12.39%
Get cash back for good grades with this private student loan provider.
Sallie Mae Student Loans
Not stated
Cost of attendance
4.25% to 12.35%
Choose from over 8 different options for undergraduates, law students and more.
College Ave undergraduate student loans
Not stated
Cost of attendance
1.24% to 11.98%
Rates start at 2.84% for residents of all 50 states.
Earnest Student Loans
650
Cost of attendance
Starting at 1.24%
Undergrad and graduate financing with a nine-month grace period.
SoFi Student Loans
680
Full cost of attendance
1.90% to 11.76% with autopay
Undergraduate financing with no late fees to US citizens with good 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.

Frequently asked questions

Picture: lending.regions.com

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