5.99 - 21.49 %
APR
2 - 6 years
Loan Term
Check rates
On partner's site

Best Personal Loans in Bakersfield (CA)

We have found 122 personal loans to apply for in Bakersfield, CA. Add more criteria to compare personal loans and find the best one for you.

By Myfin Team
Updated December 03, 2024
Showing 122 personal loans
APR
5.99 - 21.49 %
with Autopay
Term
2 - 6years
Loan amount
$5,000 - $100,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Autopay discount:
    0.5%
  • Origination fee:
    No origination fee.
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Low rates
    • No fees
    • Fast approval and funding
    • Rate discount for autopay
    • Digital experience
  • Cons:
    • Minimum loan amount is a bit high
    • Requires a long credit history

LightStream is the online lending division of Truist (formerly SunTrust Bank).

The key feature of LightStream's online personal loans is that they can be up to $100,000 and used for nearly any reason.

LightStream charges no fees on its personal loans. Plus, it offers to send you $100 if you’re unsatisfied with the loan process.

See LightStream full product review
Check rates
On partner's site
APR
6.99 - 24.99 %
with Autopay
Term
3 - 6years
Loan amount
$3,500 - $40,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Autopay discount:
    0.25%
  • Origination fee:
    No origination fee.
  • Funds available in:
    5 business days.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • No fees
    • Autopay discount
  • Cons:
    • Long time to receive funds
    • No Cosigner Option

Marcus offers unsecured personal loans up to $40,000 with rates from 6.99% to 24.99%.

Marcus does not charge origination, late payment and check processing fees.

See Marcus by Goldman Sachs full product review
Check rates
On partner's site
APR
5.6 - 35.99 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    10%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • No prepayment penalty
    • Next day funding
  • Cons:
    • Origination Fee
    • Extra Fees

Upstart loans range from $1,000 to $50,000. Not all applicants will qualify for the full amount.

The minimum loan amount: $7,000 (MA), $6,000 (Ohio), $5,100 (NM), $3,100 (GA), $2,100 (HI).

Borrowers need credit scores of 580 or higher.

Upstart offers fixed-rate APRs that vary from 5.60% to 35.99%. Loan terms are available for 3 or 5 years.

The origination fee ranges from 0% to 8%.

See Upstart full product review
Check rates
On partner's site
APR
8.99 - 29.99 %
Term
2 - 5years
Loan amount
$5,000 - $40,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    5%
  • Funds available in:
    3-6 business days.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • No prepayment or late fees
    • Free monthly FICO score updates
  • Cons:
    • Co-signers are not accepted
    • Origination Fee
    • Slow funding
    • Not available in all states

The Payoff Loan™ is an unsecured personal loan designed to consolidate your credit cards into one monthly payment. Payoff requires a minimum FICO credit score of 640 or higher. It provides loans of up to $40,000.

The Payoff platform provides loans with rates between 8.99% and 29.99% APR. Minimum loan amount and APR may vary in certain states.

See Payoff® full product review
Check rates
On partner's site
APR
8.3 - 36 %
Term
3 - 5years
Loan amount
$1,000 - $40,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    3 - 6%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Quick, easy online application
    • Fast funding
  • Cons:
    • Origination fee

LendingClub offers loans of $1,000 to $40,000.

The APR range is from 8.30% to 36.00%. Loan terms are available for 3 or 5 years.

LendingClub charges an origination fee of 3% to 6% on personal loans.

See LendingClub full product review
Check rates
On partner's site
APR
7.99 - 23.43 %
with Autopay
Term
2 - 7years
Loan amount
$5,000 - $100,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Autopay discount:
    0.25%
  • Origination fee:
    No origination fee.
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Rate discount for autopay
    • No Fees
  • Cons:
    • Not available to residents of Mississippi
    • No secured loan option

SoFi loans range between $5,000 to $100,000.

The APR range is from 7.99% to 23.43% (with discounts). Loan terms are available for 2 or 7 years.

The loan is not available in Mississippi.

SoFi personal loans have no fees: no origination fees, no late fees, no prepayment penalties.

See SoFi full product review
Check rates
On partner's site
APR
9.95 - 35.95 %
Term
1 - 5years
Loan amount
$2,000 - $35,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    4.75%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Low minimum credit score requirements
    • No prepayment fees
  • Cons:
    • Fees
    • No Autopay discount
    • No Cosigner Option

Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.95%.

Avant charges an origination fee up to 4.75%.

Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.

See Avant full product review
Check rates
On partner's site
APR
7.95 - 35.99 %
Term
3 - 5years
Loan amount
$2,000 - $40,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.41 - 5%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Simple application process
  • Cons:
    • Origination fee
    • Extra Fees
    • No Autopay Discount
    • Not available in all states

Prosper offers fixed-rate APRs that vary from 7.95% to 35.99%. Loan terms are available for 3 or 5 years.

The origination fee ranges from 2.41% to 5%. Prosper charges $15 for failed payments or returned checks. Payments that are 15 or more days late are assessed a late fee.

If you don't qualify for a personal loan with Prosper, consider applying with a co-applicant.

See Prosper full product review
Check rates
On partner's site
APR
7.99 - 35.99 %
Term
3 - 5years
Loan amount
$2,000 - $50,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    0.99 - 8.99%
  • Funds available in:
    1-3 business days.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval
    • Low fixed rates
    • Fast funding
  • Cons:
    • Fee charged

Best Egg is a national online lending platform offering personal loans starting at $2,000 for a variety of purposes.

Best Egg’s personal loans are ideal for consolidating debt or funding major expenses. Borrowers cannot use loans toward securities or postsecondary educational expenses.

There are no prepayment penalties, so you can pay off the loan ahead of schedule without extra fees.

Best Egg origination fees vary from 0.99% to 8.99%.

The quote you receive is based on multiple factors, including: Credit score and history, Income, Debt obligations, Loan amount, Repayment term (36 vs. 60 months).

See Best Egg full product review
Check rates
On partner's site
APR
18 - 35.99 %
Term
2 - 5years
Loan amount
$3,000 - $20,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    $25 - $500
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Secured and unsecured options
    • Poor-credit applicants considered
  • Cons:
    • Origination fee
    • Extra Fees
    • High Rates

OneMain Financial offers loans that range from $1,500 to $20,000. The annual percentage rate ranges from 18.00% to 35.99%.

You may be approved for an unsecured or a secured loan. A secured loan requires you to provide collateral, such as a motor vehicle, while an unsecured loan doesn’t require any collateral at all.

OneMain charges late payment fees. These fees may range from a flat amount of $5 to $30 per late payment, or they may be a percentage of your entire monthly payment amount or a percentage of the delinquent portion of your monthly payment amount, ranging from 1.5% to 15%.

The lender charges an origination fee. Flat fees vary by state and range from $25 to $500. Percentage fees range from 1% to 10% of the loan.

See OneMain Financial full product review
Check rates
On partner's site
For example, if you apply for a 2-year $5,000 personal loan with an interest rate of 15% and an origination fee of 5% you would receive $4,750 and make 24 payments of $242.43. The total amount paid would be $5,818.
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Showing 122 personal loans
Amount
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Credit Score
City, state or Zip
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Loan Purpose
  • Personal Loan
  • Home Improvement Loan
  • Medical (Dental) Loan
  • Debt Consolidation Loan
  • Major Purchase
  • Refinance Credit Card
  • Moving Expenses (Relocation)
  • Travel
  • Other

TOP 5 banks offering personal loans in Bakersfield

Showing 5 banks
Sort by: Branches
Branches 11 bank branches
Total Assets (US$M)3,380,824,000
North Chester
Tuesday: 9:00 AM - 5:00 PM
Bakersfield 17th St
Tuesday: 9:00 AM - 5:00 PM
White Ln
Tuesday: 9:00 AM - 5:00 PM
Show all departments
Branches 10 bank branches
Total Assets (US$M)1,712,535,000
Bakersfield Downtown
Tuesday: 9:00 AM - 5:00 PM
Stockdale
Tuesday: 9:00 AM - 5:00 PM
Show all departments
Branches 8 bank branches
Total Assets (US$M)2,440,022,000
Riverlakes Village
Tuesday: 9:00 AM - 4:00 PM
Ming Plaza
Tuesday: 9:00 AM - 4:00 PM
Show all departments
Branches 5 bank branches
Total Assets (US$M)18,616,778
Stockdale Highway Branch
5151 Stockdale Highway, Bakersfield, CA, 93309
Bakersfield Gosford Branch
3990 Gosford Road, Bakersfield, CA, 93309
Riverlakes Drive Office Branch
3800 Riverlakes Dr,, Bakersfield, CA, 93312
Show all departments
Branches 3 bank branches
Total Assets (US$M)124,662,227
University Centre
9200 Ming Avenue, Bakersfield, CA, 93311
East Hills Branch
2641 Oswell St Ste A, Bakersfield, CA, 93306
Stockdale Village Branch
5400 Stockdale Highway, Bakersfield, CA, 93309

Choosing the Best Personal Loan in Bakersfield, California: A Comprehensive Guide

Personal loans can serve as valuable tools to bridge financial gaps and enhance your overall financial well-being. However, it's crucial to select a loan that aligns with your specific financial requirements. In this comprehensive guide, we present strategies for comparing and choosing the best personal loan in Bakersfield, California.

Annual Percentage Rates (APR)

Comparing the APR, which includes both interest rates and fees, provides a more accurate representation of the total cost of a loan. In Bakersfield, APRs can range from 4.49% to 36%.

Loan Amount

Research loan options that offer a range of amounts to accommodate your financial needs. In Bakersfield, loans are available from $100 to $500,000. Flexible loan options that allow you to withdraw funds incrementally can be beneficial for projects with uncertain costs, such as home renovations or car repairs.

Monthly Payments

Ensure that the monthly payment amount fits comfortably within your budget. It's important to maintain your ability to cover essential expenses while repaying the loan and any associated interest.

Credit Requirements

Most lenders prefer borrowers with good to excellent credit (670 or higher). However, some lenders may consider those with poor to fair credit. While a higher credit score increases approval chances, it doesn't guarantee lower interest rates. In Bakersfield, the lowest acceptable credit score is Poor (300 - 579).

Collateral

While most personal loans are unsecured, some may require collateral. Secured loans generally offer lower interest rates due to reduced lender risk, whereas unsecured loans typically have higher interest rates. Opting for a secured personal loan can help avoid high interest rates, which can reach up to 36% in Bakersfield.

Origination Fee

Many lenders charge origination fees, typically a percentage of the loan amount. Comparing these fees is crucial as they contribute to the overall cost of the loan. Selecting a personal loan with lower origination fees can result in long-term savings.

Compare and choose the best personal loan in Bakersfield, California

Performing a side-by-side comparison of available loan options in Bakersfield enables you to select the loan with the most favorable terms for your financial situation. The table provided offers crucial loan characteristics for comparison, helping you make an informed decision.

LenderAPRLoan AmountLoan termOrigination FeeScore RequiredApply
LightStream
6.49 - 21.99%$5,000 - $100,0002 - 6 yearsNo origination fee.From Fair (580-669) to Fair (580-669)Check rates
On partner's site
Marcus by Goldman Sachs
7.24 - 25.24%$3,500 - $40,0003 - 6 yearsNo origination fee.From Fair (580-669) to Excellent (740-799)Check rates
On partner's site
Upstart
5.6 - 35.99%$1,000 - $50,0003 - 5 years10%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
Payoff®
8.99 - 29.99%$5,000 - $40,0002 - 5 years5%From Good (670-739) to Excellent (740-799)Check rates
On partner's site
LendingClub
8.3 - 36%$1,000 - $40,0003 - 5 years3 - 6%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
SoFi
8.24 - 23.68%$5,000 - $100,0002 - 7 yearsNo origination fee.From Good (670-739) to Excellent (740-799)Check rates
On partner's site
Avant
9.95 - 35.95%$2,000 - $35,0001 - 5 years4.75%From Poor (300-579) to Excellent (740-799)Check rates
On partner's site
Prosper
7.95 - 35.99%$2,000 - $40,0003 - 5 years2.41 - 5%From Fair (580-669) to Excellent (740-799)Check rates
On partner's site
Best Egg
7.99 - 35.99%$2,000 - $50,0003 - 5 years0.99 - 8.99%From Good (670-739) to Good (670-739)Check rates
On partner's site
OneMain Financial
18 - 35.99%$1,500 - $20,0002 - 5 years$25 - $500From Poor (300-579) to Excellent (740-799)Check rates
On partner's site

Tips for Increasing Personal Loan Approval Odds

  1. Get Your Credit in Shape. Increasing your credit score is vital for improving loan approval odds. Timely debt payments, maintaining low credit utilization, minimizing new credit applications, and disputing errors in your credit report can help elevate your credit score.
  2. Increase Your Income. Enhancing your income lowers your debt-to-income ratio, increasing the likelihood of loan approval. Seek opportunities for salary increases or consider part-time work to supplement your income.
  3. Avoid Accumulating New Debt. While applying for a personal loan, refrain from acquiring new debt. Lenders view additional debt as a risk factor, potentially impacting your approval chances. Focus on paying off existing debts to reduce your overall debt burden.
  4. Be Realistic About Loan Amounts. Lenders may be hesitant to grant large loan amounts due to increased risk. To enhance approval odds, consider requesting smaller loan amounts. This reduces risk for the lender and makes loan repayment more manageable. Determine the precise amount needed and request the minimum required.
  5. Consider a Joint Applicant. Exploring the option of a joint applicant allows lenders to consider the combined credit scores and incomes of both applicants. Alternatively, a co-signer can provide added security for the lender. Choose a joint applicant or co-signer wisely, as your financial matters will be interconnected.

Conclusion

Obtaining a personal loan may become a necessary measure, so it's crucial to be prepared. Ensure you consider the factors mentioned, compare loan options, and follow the tips provided to maximize your personal loan approval odds in Bakersfield, California.

FAQ

What is the highest interest rate on a personal loan in Bakersfield, California?

The highest interest rate on personal loan in Bakersfield is 36%.

What is the biggest loan amount in Bakersfield, California?

The biggest personal loan amount in Bakersfield is $500,000.

What credit score do I need to have to get a personal loan in Bakersfield, California?

To get approved for a personal loan in Bakersfield you need to have at least a Poor (300-579) credit score.
Myfin TeamMyfin Team

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