The 6 Best Personal Loans In Arizona For 2021 • Benzinga

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A personal loan through a bank or credit union can help make your current financial situation less hectic. You may need extra cash to cover expenses or pay for something in particular, like a new oven for your kitchen.

Take a look at Benzinga’s list of the top personal loan providers in Arizona to get started today.

Best Personal Loans In Arizona:

  • Best Educational Resource: Vantage West Credit Union
  • Best for Convenience: Arizona Federal
  • Best for ethical banking: Bank of the West
  • Best National Bank: Wells Fargo
  • Best for Debt Consolidation: Withdrawal
  • Best for imperfect credit: BadCreditLoans.com

Best Arizona Credit Union Personal Loans

You can apply for a personal loan through a credit union. This option may offer lower fees and a more intimate relationship with your loan officer. Credit unions are not-for-profit charitable organizations and the organizations operate on the interests of the members.

Loan amounts

$ 500 to $ 20,000

Conditions offered

Up to 60 months

Best Educational Resource: Vantage West Credit Union

Vantage West offers a variety of educational tools, including free on-demand courses on retirement planning, senior fraud prevention, and more.

Vantage West offers both personal and business accounts in 19 locations across Arizona that are easily managed through the mobile app. The app enables fast digital money transfer between accounts and to external accounts.

You can choose from a wide variety of loans. The types of credit include:

  • Home loan
  • Car loans
  • Personal (signature) loans
  • Jointly secured loans
  • Debt Consolidation Loans
  • Cash, please credit
  • Citizenship Loans, which are customized small loans up to $ 1,500. The offered terms of up to 24 months help immigrants to pay the costs associated with the naturalization process.

The credit union also focuses on social engagement. The Thrive series blog features local small business owners and representatives of philanthropic organizations.

Arizona Federal

APR

Fixed: 8.75%, 9.25%, 10.25% depending on conditions

Loan amounts

At least $ 500

Conditions offered

36, 46, 60 months

Best for Convenience: Arizona Federal

Arizona Federal’s 12 branches and over 5,000 shared locations offer toll-free ATMs, online banking, a mobile banking app, and a money management tool.

Arizona Federal offers 4 types of personal loans – the Closed Private Loan listed below, a Shared Secured Loan, a Regular Line of Credit, and the Sallie Mae Smart Option Student Loan. Car loans, mortgages, home equity loans, and RV loans are also available.

Arizona Federal offers several types of personal bank accounts – a Free Teen Account, Basic Checking, and Checking Plus that pays dividends between 0.01% and 0.10% annual percentage rate of return (APY) on any balance over $ 25.

The credit union also serves businesses and offers some Visa credit cards exclusively for members.

Best Arizona Banks That Offer Personal Loans

Banks are known for their convenience and online options. Anyone can borrow from a bank (provided they have the correct creditworthiness and other requirements), and credit unions can be restricted to certain community members.

Check out our recommended banks that offer personal loans.

Bank of the West

APR

Fixed, varies depending on conditions

Loan amounts

$ 2,000 to $ 50,000

Conditions offered

12 to 60 months

Best for ethical banking: Bank of the West

When you deposit money into your bank account, it is used to facilitate other financial endeavors such as taking out loans. Bank of the West is committed to funding sustainable, environmentally conscious businesses so you can be sure that your money is being used ethically as it flows through the economy.

Bank of the West has multiple locations in Arizona. The bank offers unsecured loans to lenders of reasonable credit. You do not have to provide collateral for an unsecured loan – your creditworthiness determines your eligibility. If you automatically pay from a Bank of the West bank account when you take out the loan, you are entitled to a 0.25% interest discount.

Bank of the West personal banking options include checking and savings accounts, CDs, and IRA CDs. You can manage your account online or through the mobile app.

Several Visa credit cards are also available for bank users, including a reward card, a low interest card, and a user deposit secured credit card.

Wells Fargo Mortgage

Loan amounts

$ 3,000 to $ 100,000

Conditions offered

12 to 84 months

Best National Bank: Wells Fargo

Wells Fargo offers easy online application and flexible personal loan terms if you prefer the familiarity of a large chain. Another important benefit is that you won’t pay borrowing fees or early repayment penalties as long as you pay your loan on time.

Collateral is not required, but secured loans are options for customers who have CDs or other accounts with Wells Fargo. You will typically receive your funds via direct transfer the next business day after approval.

Wells Fargo offers relationship discounts to its customers. If you set up automatic payments through your Wells Fargo bank account, you may be eligible.

Wells Fargo serves residential, business and commercial customers. The online banking features are extensive and a mobile app is available for iPhone and Android users.

Best Personal Loans In Arizona From Online Platforms

The ability to do business digitally is becoming increasingly important. Personal loans are no different, and it’s easier than ever to find an online platform that works for you.

Take a look at our recommended online lenders.

Pay off




Loan amounts

$ 5,000- $ 35,000

Conditions offered

2-5 years

Best for Debt Consolidation: Withdrawal

The Payoff platform is perfect if you are looking to reduce your debt in order to improve your credit score. The platform offers the convenience of an online lender and consolidates all of your monthly payments into 1.

Loans range from $ 5,000 to $ 35,000 at 5.65% to 22.59% APR. The terms are between 2 and 5 years and the issuing fees are between 0% and 5%.

There’s no uncertainty here – Payoff is clear about its borrower standards.

The following are Payoff’s borrower requirements:

  • Credit worth at least 640
  • Debt-Income Ratio (DTI) below 50%
  • The credit must have been used for at least 3 years
  • 2 open credit lines with a maximum of 1 installment loan
  • No ongoing overdue accounts
  • No failures in the last 12 months over 90 days

Take a look at Payoff to Improve Your Credit Score and Make Debt More Manageable.

BadCreditLoans.com




Loan amounts

$ 500- $ 5,000

Conditions offered

3 – 36 months

Best for imperfect credit: BadCreditLoans.com

Reaching out to a lender as a bad credit borrower can be intimidating.

BadCreditLoans.com could be your solution. The service connects you with lenders who will welcome you if your credit requires some work.

You can find lenders for personal loans, auto loans, student loans, home loans, business loans, and mortgages. The loan amounts range from $ 500 to $ 5,000. APR, repayment terms, and issuance fees vary by lender.

Applicants must be at least 18 years of age, have a checking account, evidence of income, and a valid email address. The application process takes less than 5 minutes on average.

BadCreditLenders.com can help you get a personal loan with the anonymity of an online platform.

Personal Loan Considerations

Obtaining a personal loan can be a wise financial decision depending on your circumstances. Pay particular attention to the conditions and choose a loan that makes sense for you.

Watch out for predatory lenders. Use verified platforms like our recommended lenders and be careful with paycheck advances.

Personal loans vs. credit cards

Personal loans are usually a one-time loan with a fixed term and a fixed rate of interest. The advantage of choosing a personal loan is that the interest rate is often lower than the credit card rate. When you need a large loan all at once, a personal loan is your best bet.

Credit cards often have a floating rate and offer a revolving line of credit. This means that you can continue to use the credit while you pay for it. If you don’t want to risk paying off a loan early or late, or want a continuous line of credit, a credit card is probably what you are looking for.

Frequently asked question

What if I can’t repay my personal loan on time?

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What if I can’t repay my personal loan on time?

asked

Chelsea Walker

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Many personal loans have strict payment terms. If you pay outside of these terms, you could face late payment fees, collateral confiscation or early repayment penalties. Look for loans with no prepayment penalties.

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Benzinga

Do I need collateral to get a loan?

1

Do I need collateral to get a loan?

asked

Chelsea Walker

1

Some loans (such as secured loans) require collateral to be deposited. For example, when you take out a car loan, your car is safe – if you stop paying, your lender could seize your car. Many lenders offer unsecured options with higher fees and rates.

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Benzinga

Arizona Personal Loans

A personal loan can be an attractive option when you need quick cash. Consolidate your debts or pay bills at a lower interest rate with the help of a personal loan. They can even lower your credit utilization and help increase your credit score.

Whether you’re paying for a wedding or needing extra cash to bridge it, a personal loan can be a great way to get the money you need.

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