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Ridgewood Savings Bank personal loans review

Take advantage of zero fees and competitive rates with this local bank.’s rating: 4.1 / 5.0


  • Best for residents of the tristate area looking for competitive rates.
  • Pick something else if you need to borrow more than $30,000.


Min. Loan Amount$5,000
Max. Loan Amount$30,000
APR7.24% to 15.99%
Interest Rate TypeFixed
Origination FeeUp to 0%
Loan Term3 to 5 years
Turnaround Time1 day

First, am I eligible?

To qualify for a personal loan from Ridgewood Savings, you must meet the following criteria:

  • Resident of New York, Connecticut or New Jersey
  • At least 18 years old
  • Meet Ridgewood's credit requirements, which aren't disclosed


  • Competitive rates
  • Zero fees
  • Check rate without affecting your credit score
  • Get funding in just one business day


  • Low maximum amount of $30,000
  • Customers complain of outdated online banking system

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Ridgewood Savings Bank reviews and complaints

BBB accreditedYes
BBB ratingA+
BBB customer complaints8
Customer reviews verified as of19 October 2020

It has no reviews on its BBB page, and the last complaint was filed in 2018. You can find some customer reviews on Yelp, where it earned 3 out of 5 stars. Some reviewers were happy with the customer service at Ridgewood Savings Bank and the community workshops it offers. Others complained about inefficient application processes and its out-of-date online banking.

How do I apply?

You can apply online by following these steps:

  1. Go to Ridgewood Savings Bank's website, hover over Borrowing in the top nav and click Personal loans.
  2. Click Apply now.
  3. Enter your loan amount and loan purpose.
  4. Provide personal information such as your first and last name, date of birth, address and phone number.
  5. Fill out the required fields that ask for your highest level of education earned, employment details, amount in savings and previous borrowing history.
  6. Provide your email address and create a password to view your loan rate.
  7. Click on the blue Agree and See Your Rate button to view loan rates you might qualify for.
  8. Select one of the loan offers you see and click Continue.
  9. Provide your bank account information and upload any necessary documents to finish your application.

What information do I need to apply?

The information you'll need to bring will depend on your financial situation. For specifics, you should contact your branch before you visit. But more than likely, you'll need at least three types of documentation:

  • Proof of income
  • Proof of employment
  • Proof of residence

After you finish your online application, you can receive your loan funds in as soon as one business day. You can also apply for a loan by visiting a local branch. You can find your nearest branch by going to its website and clicking Find Branch in the upper right-hand corner. Then enter your ZIP code or city and click Search.

How do repayments work with Ridgewood Savings Bank?

Ridgewood Savings Bank's personal loans come with monthly repayments made over three or five years — it depends on the terms laid out in your contract. Ridgewood doesn't charge any late fees, so you won't need to worry about getting hit with a big charge if you're unable to make your payment on time.

Keep track of your bank account and loan balance. If you notice something odd, contact its customer service line or visit a branch in person as soon as possible.

Want to know more about other options? Use our personal loans guide as a starting point.

Frequently asked questions

Personal loan ratings

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Read the full methodology of how we rate personal loan providers.

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Borrowing from Ridgewood Savings Bank is ideal for residents of the tristate area looking for competitive rates. APRs range from 7.24% to 15.99% with no origination or late fees.

You don’t need to have an account with the bank to qualify. And you can check what rates you might qualify without affecting your credit score. It also offers an online application and funding in as little as one business day.

Don’t live in a qualifying state? Compare your other options below.

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