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.
You can find the following types of financing at Regions Bank:
| Loan type | How it works | Amounts | Rates | Terms | ||
|---|---|---|---|---|---|---|
Personal loans |
Unsecured term loans through either Regions Bank orAvant. Regions bank also offers secured personal loan options. |
$500 to $50,000
|
Prime + 5% to Prime + 18%
|
Up to 5 years, varies by amount
|
||
Business loans |
Term 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%
|
12 to 60 months
|
||
Car loans |
New 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 to 6 years
|
||
Student loans |
Regions directs borrowers to apply for aSallie MaeSmart Option loan for undergraduate and graduate students. |
Up to 100% of school-certified costs |
Fixed rates: 5.12% - 14.73% |
5 to 15 years
|
On top of these options, Regions Bank also offers mortgages and home equity loans.
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
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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.
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.
Since Regions Bank works with several partner lenders, the application process can vary widely. Here’s how to get started:
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.
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.
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.
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.
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.
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.
Since Regions Bank works with several partner lenders, the application process can vary widely. Here’s how to get started:
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.
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.
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.
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.
It depends on which branch you’re visiting. Most branches are open 9 a.m. to 4 p.m. Monday through Thursday, 9 a.m. to 5:30 p.m. Fridays and 9 a.m. to 12 p.m. Saturdays.
1. Go to the Regions Bank site.
2. ClickLocationin the top navigation bar.
3. Enter your ZIP code or city and state. Then clickFind.
It depends on the type of loan you’re looking for. Most have an online application, though if you want to apply for a car loan, get a business loan over $1 million or a personal loan directly funded by Regions Bank, you might have to go in person. But even then, you’ll typically need to get started online.
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