When you need to borrow money, the first place you should think about is your bank. Banks generally offer personal loans at very competitive interest rates, and if you have good banking and saving history with a particular bank, you will find it easy to get approval. Another easy way is working with a loan broker such as WeLoans, US Bad Credit Loans, CocoLoan, BadCreditLoans, and PersonalLoans.
Easiest Banks to Get a Personal Loan
The average credit score is around 660, and at that level, it is relatively easy to get approval for an unsecured personal loan. Most banks require a credit score of at least 660 and some require even higher scores, like Citizens Bank (680) and Barclays (700). Let's have a quick look at each bank.
- USAA: Will lend to people with less than fair credit score (below 640)
- Wells Fargo: Best for secured loans with poor credit
- American Express: Easy loans with a minimum 660 credit score
- Discover: Credit score required at least 660 for loans
- TD Bank: Minimum 660 credit score for existing customers
However, several banks will approve personal loans to people with lower credit scores provided the loan can be secured against collateral, and it also helps if you are an existing customer of the bank. There are also alternatives to banks for personal loans which you can explore, such as credit unions and online lenders, or borrowing from family or friends.
Other Easiest Places to Get a Personal Loan
An easy way to find the best deal when you are searching for personal loans is to use an online broker, which allows you to get the money from the comfort of your home. Here are some of the sites you can turn to:
- WeLoans: Best for online personal loans from $100 to $35,000
- US Bad Credit Loans: Best for people with bad credit up to $35,000
- CocoLoan: Best overall for personal loans with fast approval
- BadCreditLoans: Best for bad credit loans no credit checks
- PersonalLoans: Best for loans with flexible repayment terms
With just one-click submission, you will be connected to their network of lenders and get multiple loan offers which you can compare to find the best conditions to suit your situation at your convenience, at home, or at your workplace.