Best Big Banks in the USA for Personal Loans

People apply for a personal loan for many reasons. You might need cash to pay for your medical bills, utility bills, rent, schooling, an old debt, or to enhance your credit rating. Getting a personal loan in the US is always possible, with a significant number of banks that extend personal credit. However, it is essential to note that different banks have different offers and guidelines for this type of loan. Some banks would allow you to borrow up to $100,000 depending on credit score and capacity to pay.

If you are seriously looking for a personal loan, here is a list of these financial institutions to see the best offers.

Wells Fargo

Wells Fargo has been named the Best Big Bank with its 5,400 branches throughout the United States of America. Personal loan applicants can easily apply because of the less stringent requirement. The bank offers minimal processing fees, long term repayment, next business day loan release, and some discounts. If you need a significant amount, this is the right place for you because it allows you to borrow from $3,000 to $100,000. The interest rate ranges from 5.24% – 24.49%.

However, you have to visit the bank to apply for a loan. Wells Fargo would also check your credit history. You need a credit score of at least 600 to qualify. You could waste your time applying for a personal loan if you do not have the required credit score.

Light Stream

Light Stream is the lending arm of SunTrust Bank or now the Trust. It is the best bank for home improvements because people come here for a personal loan to spend on renovating or repairing their homes. Borrowers prefer this bank because they do not have to put their house as collateral. Since you might need a lot of money for home improvement, Light Stream allows clients to borrow $5, 00 – $100,000. The bank offers long-term loans with no fees and a low-interest rate that ranges from 4.99% – 15.29%.

The bank would require you to visit the bank to apply personally. Your credit rating must be at least 670. People with low credit scores would not qualify. Since you make payments through an automatic debit from your bank account, people that do not use the services of a bank would not be eligible for the loan.

Marcus by Goldman Sachs

Are you having trouble paying old balances on your credit cards that bear a high-interest rate? Get rid of your worries by applying for a personal loan from Marcus by Goldman and Sachs, the best bank for consolidation of debts. Combine into one debt all your obligations from $3,500 to $40,000. You can save yourself from several debts and focus on paying your consolidated debt loan at lower interest rates of 4.99% to 14.29% compared to what you have to pay for several debts. Marcus, by Goldman Sachs, can lighten your burden. You can delay, skip, or make an advance payment without having to pay penalties. You also enjoy a flexible repayment term, and if you can pay through directly from your bank account, you can avail of a 0.25% discount on interest.

There are some downsides, though. You can only get approval if your credit score is at least 660. You would need a cosigner for the loan, which can hamper you from getting credit. It is quite challenging to find someone who would take the risk of paying for the amount that you borrowed if ever you stop paying. You would need to have a solid credit standing to get a loan approval without a co-maker.

TD Bank

As the best bank for cosigners, TD bank allows borrowers with bad credit histories and low credit ratings as long as they have a cosigner, who shall pay the loan if the borrower cannot pay in full or if you delay payments. A cosigner that has a good credit rating can increase your chances of getting a sizable loan and easy repayment terms. You can borrow from $2,000 – $50,000 at a rate of 6.99% to 18.99%. The bank does not collect application fees, and you can have the funds in at most 48 hours after approval.

However, not everyone can have access because there are only a few TD banks in the US. Although you can apply by phone or online, you might have to personally visit the bank to comply with other requirements, which may not be possible if you live far from a TD bank. With your bad credit history, no one might take the risk to be your co-maker, knowing that he would be responsible for paying the amount due if you cannot pay.

Although most leading banks offer personal loans, a bad credit history would prevent you from getting a personal loan without someone to serve as a cosigner. Maintaining a high credit score would open the doors of banks offering personal loans.


8 Legit Methods That You Can Use To Get Money Fast

Whether you have an urgent medical procedure that you need to pay for or you just got a surprisingly large utility bill, you may need to get your hands on a couple of hundred dollars in under a week. Unfortunately, going to the bank is not always an option, mainly because there is a lot of bureaucracy involved if you want to take out a loan and this the application and evaluation process can take a month or more.

  1. Take out a payday advance

Most banks offer their clients the ability to get payday advances. These are short-term loans that you can often take out from an ATM. The downside with these is that they will affect your credit score and not all banks include them in their standard packages.

  • Pawn or sell items that you no longer need

Look around the house and pawn or sell things that you no longer need or like. If you have old birthday or Christmas presents that you never used, then this is the time to turn them in for a quick buck. If you have jewelry that you don’t care too much about but would still like to keep, just pawn it. You’ll get paid for it in cash and once your financial situation improved you will be able to buy it back.

  • Sell your old electronics

Find any old phones that are still in good condition and put them up for sale. Even if they are a couple of years old, you should be able to find individuals who are interested in buying them and who will pay you $50-$200 bucks per phone.

The same goes if you’ve got any old laptops. These may be a bit more difficult to sell, but in the worst-case scenario you can send them to a repair shop and they will pay you for any usable parts that they find.

  • Sell gift cards

Look for any gift cards and discount codes that you may have lying around. There are several platforms that you can use in order to sell these and in some cases, you may even be able to bundle them up and sell everything at once. Any kind of discount or gift card will be useful, so try to sell anything that you find.

  • Use an online commercial money lending websites

If other methods fail, you can always use an online commercial lending website. These work similarly to banks but they do not perform credit checks. Most of them will also allow you to get a short-term loan in under 24 hours. Adherents is a good example. Finding the right service can require a bit of research, like looking at the reviews that other users left on TrustPilot and similar platforms. Once you find a platform that you’re happy with, the loan request process is simple and should only take you an hour.

  • Find a reliable P2P lending platform

Unlike commercial lending websites, peer-to-peer lending platforms only act as facilitators, making the connection between the borrower and lender. These often have smaller rates than commercial websites, however, it can take a couple of days for you to get the money that you need.

The same applies as with commercial platforms. Find a website that fits your needs and then look at reviews from other users. If they had a good experience with their services, then you’re good to go.

  • Open up a brand new bank account

Opening a new account at a bank often takes a lot less time than getting a loan. If you need a small amount of money in under 48 hours, find a bank that offers a signup bonus and open a new account. In most cases, your application will be processed in 24 hours and you will have access to the bonus in your new account in under two days. This having been said, keep in mind that closing this new account may be a bit more difficult than it was opening it.

  • Refurbish old items and sell them

As a worst-case scenario, if none of the methods above help and have at least a couple of weeks to get the money that you need, consider refurbishing old items. Almost anything that you find old, dusty and rusted will fetch a better price after it’s been refurbished. Go to garage sales and look for bargains. You should be able to find retro tech that is currently making a comeback. Get a few objects, clean them up, repair them using online tutorials and put them up for sale.


Each of the methods included in this article will help you get varying amounts of money in under a month, or a week. Read each of the tips and choose the ones that fit you best. The more methods that you use at the same time, the more money you will make.