Whether you’re looking to remodel a home or purchase a vehicle, lenders are eager for your business. Before taking out a loan, consider the lender’s interest rates and record of customer service. With so many companies advertising their specials, choosing one can be hard. We researched the best personal loans in Oklahoma City to narrow down your options.
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How we chose the best
ConsumerAffairs thoroughly researched consumer reviews and company information.
How to choose a personal loan company in Oklahoma City
Getting a personal loan in Oklahoma City is pretty simple. Applications can be done online. You can also apply in person at a local office.
There are a variety of reasons to apply for a personal loan in Oklahoma City. These include:
Home remodel or major repair
Installing a storm shelter
Purchasing an engagement ring
Paying off debt
Paying off student loans
Personal loans can benefit your financial growth and may save you money by consolidating payments at a lower interest rate. There are several kinds of personal loans in OKC with important differences among them.
Secured personal loan
Unsecured personal loan
Property secures the loan
No asset to secure the loan
Lower interest rates than unsecured loan
Includes signature loan, payday loan
Includes title loan, mortgage loan, car loan
Based on credit score
After applying for a loan, lenders will check your credit. If your credit is bad, there are still options. Some online lenders don't have a credit score requirement to be approved; however, a borrower with bad credit will have higher interest rates or fees.
The amount you are approved for will depend on your credit score, income and other debt. Expect to pay loan fees. For example, most lenders charge a loan origination fee. Some companies also charge a fee if you pay off your personal loan early. For repayment, most lenders expect monthly payments, and the term of the loan can vary.
Personal Loan Pro is a free online tool that helps people search for and compare personal loan offers from multiple lenders, including Best Egg, SoFi, LendingClub, Prosper and Upgrade. OKC residents can borrow from $1,000 to $50,000 at rates as low as 2.49% at the time of publishing. It takes only two minutes to see your options with Personal Loan Pro.
Best Egg offers personal loans in as little as one day from $2,000 to $35,000. Best Egg is unique because it already has investors who are ready to lend to qualified applicants. The company is reviewed highly on a streamlined process and excellent customer service.
FreedomPlus is an online lender with personal loans ranging from $7,500 to $40,000. Discounts are available for having a co-signer and borrowers with retirement assets. FreedomPlus has been recognized by NerdWallet’s Best Of Awards under best personal loans for borrowers with good credit.
With an A+ BBB rating, Credit Direct Loans has online application and loan process. Loans are offered for up to $40,000, and a representative makes contact within 24 hours of applying. Borrowers electronically sign the agreement and money is deposited into a checking account. Clients have spoken highly of professional and knowledgeable representatives.
With seven branches in the Oklahoma City area, OneMain Financial is a national lender with a local feel. Borrowers apply online then meet at a local branch to review loan options. OneMain Financial has fixed rates, fixed payments and no repayment penalties. Customers have given high reviews for being friendly, professional and closing quickly.
Allegiance Credit Union
Allegiance Credit Union is a local Oklahoma City lender with about 4.5 out of 5 stars in online reviews. Personal loans are offered by signature loans or secured loans, meaning borrowers use a savings account or share certificate as collateral. A secured loan with Allegiance can improve your credit score with timely payments.
ConsumerAffairs content is intended to be used for general information purposes only. Before you make any investment, it is very important to do your own analysis based on your own personal circumstances and consult with your own investment, financial, tax and legal advisors.