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 it doesn’t offer personal loans. Fortunately, there are providers similar to Chase that offer personal loans to fit a variety of financial needs.
Here are five alternatives like Chase bank that offer personal loans. Whether you are looking for low rates, extra perks, options for fair or bad credit, or something else, these lenders can provide competitive rates and terms suited to your financial situation. Some even have physical locations.
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.
SoFi is a top online lender that offers a range of extra benefits to borrowers. Take out a loan and you'll also be eligible for free financial advice, career counseling and a range of other services designed to help you reach financial freedom. Rates start at 8.99% to 29.49%, 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.
Fixed rates from 8.99% APR to 29.99% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 3/06/23 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. 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. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: 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. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.
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 8.99% to 35.99% — on the high end. There's an origination fee of 1% to 9.99%, loan amounts are for $2,000 to $50,000$50,000, and terms range from 24 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
Upgrade may not have the lowest rates out there, but it accepts fair-credit borrowers with scores as low as 580. It's also available in 44 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 9.99%, 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 Annual Percentage Rates (APRs) of 9.99%-35.99%. All personal loans have a 1.85% to 9.99% 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 17.59% APR (which includes a 13.94% 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 $341.48. Over the life of the loan, your payments would total $12,293.46. 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 bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
Pros
Flexible loan options
No prepayment penalty
Quick turnaround
Cons
Inflexible loan terms
High origination fee
Must have at least $1,000 left over after monthly expenses
Stricter eligibility criteria for self-employed applicants
Avant is a good option for borrowers who have a less-than-perfect credit score and may not qualify for personal loans like SoFi or LightStream. It offers loans from $2,000 to $35,000 with APRs ranging from 9.95% to 35.99%. It stands out for its relatively low credit score requirements, allowing borrowers with credit scores as low as 580 to qualify. However, this lender comes with a high administration fee of up to 4.75%. Though, Avant will deduct the fee from your funds before transferring it to your bank account.
Not available in: Iowa, Kentucky, Massachusetts, Michigan, Montana, Virginia, West Virginia
Personal loans from $2,000–$35,000. If approved, the actual loan amount, term, and APR that a customer qualifies for may vary based on credit determination and other factors. Avant branded credit products are issued by WebBank, member FDIC.
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.
Chase might not offer personal loans, but there are other options 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.
Sarah Barness is the Head of Content at O.school and freelance writer at Finder, keeping up with the latest products in the industry to present readers with unbiased reviews and guides. She has over eight years of digital media industry experience in fast-paced newsrooms in New York City and Los Angeles. Before Finder, Sarah was ranked as a top-viewed HuffPost editor and writer. She was also a lifestyle senior editor for A Plus, a digital media publication founded by Ashton Kutcher. Sarah holds an MFA in creative nonfiction from The New School, as well as a certificate in editing from Poynter ACES. See full bio
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