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

Best Personal Loans in El Monte (CA)

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

By Myfin Team
Updated December 12, 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
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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 El Monte

Showing 5 banks
Sort by: Branches
Branches 3 bank branches
Total Assets (US$M)62,379,357
El Monte Branch
9550 Flair Drive, El Monte, CA, 91731
N. El Monte Branch
3920 North Peck Road, El Monte, CA, 91734
East West Bank Centralized Operations Branch
9300 Flair Drive, El Monte, CA, 91731
Branches 2 bank branches
Total Assets (US$M)2,440,022,000
El Monte
Thursday: 9:00 AM - 4:00 PM
Branches 2 bank branches
Total Assets (US$M)1,712,535,000
South El Monte
Thursday: 9:00 AM - 5:00 PM
El Monte
Thursday: 9:00 AM - 5:00 PM
Branches 1 bank branches
Total Assets (US$M)3,380,824,000
Garvey And Valley
Thursday: 9:00 AM - 5:00 PM
Branches 1 bank branches
Total Assets (US$M)1,720,308,000
El Monte
11141 Valley Mall Boulevard, El Monte, CA, 91731

A Comprehensive Guide to Choosing the Best Personal Loan in El Monte, California

Personal loans can be a helpful tool to fill in any gaps in your budget and improve your financial well-being. When you choose a personal loan, it is important to find one that meets your specific needs.

Annual Percentage Rates (APR)

The Annual Percentage Rate (APR) plays a pivotal role in evaluating the overall cost of a loan, as it incorporates both the interest rate and associated fees. Comparing APRs, rather than simple interest rates, allows for a more accurate assessment of long-term expenses.

In El Monte, APRs range from 4.49% to 36%.

Loan Amount

Research loan options to find a lender offering a substantial loan amount. In El Monte, loans are available from $100 to $500,000. Opting for a lender that allows partial loan withdrawals, where you pay interest only on the utilized amount, proves advantageous for projects with varying expenses, such as home renovations or car repairs.

Monthly Payments

Ensure that the monthly payment comfortably fits within your budget, allowing you to fulfill other financial obligations while repaying the loan and interest.

Credit Requirements

While most lenders prefer borrowers with good to excellent credit scores (670 or higher), some lenders accommodate individuals with poor to fair credit. A high credit score does not guarantee a lower interest rate but significantly increases approval chances. The minimum acceptable credit score in El Monte (CA) is Poor (300 - 579). Tailor your search to lenders offering favorable loan terms based on your credit score.

Collateral

While most personal loans in El Monte are unsecured, meaning no collateral is required, certain loans may necessitate collateral. Secured loans often feature lower interest rates as lenders face reduced risk with collateral. In contrast, unsecured loans typically carry higher interest rates. If you are concerned about high interest rates (which can reach 36% in El Monte), consider a secured personal loan.

Origination Fee

In addition to interest charges, many lenders impose processing fees, also known as loan origination fees. These fees usually constitute a percentage of the total loan amount. While the common loan origination fee falls between 0.5% to 1%, specific amounts vary among lenders. Opting for a personal loan with low processing fees can lead to long-term savings.

Compare and Choose the Best Personal Loan in El Monte, California

The table provides key loan characteristics to assist you in selecting a loan with favorable terms for your financial situation.

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

5 Tips for Maximizing Personal Loan Approval Odds in El Monte, California

To enhance your chances of loan approval, consider the following tips:

  1. Enhance Your Credit Score. Increasing your credit score is the most effective way to improve loan approval odds. While the minimum acceptable credit score in El Monte is Poor (300 - 579), a higher credit score significantly boosts your chances.
  2. Increase Your Income. Lenders consider your debt-to-income ratio when evaluating loan applications. Enhancing your income, though challenging, can improve your odds. Explore options such as negotiating a raise or taking on a part-time job to supplement your earnings. A higher income reduces your debt-to-income ratio and enhances approval prospects.
  3. Minimize New Debt. Avoid taking on new debt while applying for a personal loan, as lenders perceive it as a risk factor. Concentrate on paying off existing debts and refrain from acquiring additional financial obligations. Reducing your debt load enhances your ability to secure a personal loan.
  4. Realistic Loan Amounts. Be realistic when determining the loan amount you require. Requesting larger sums poses greater risk to lenders. Although the maximum loan amount available in El Monte is $500,000, obtaining such a sum is challenging. Smaller loan amounts are more likely to receive approval, as they impose lower risk on lenders. Determine the exact amount you need and request the minimum required. The minimum loan amount offered by El Monte lenders is $100.
  5. Joint Applicants or Co-signers. Consider involving a joint applicant or co-signer in your loan application. Lenders assess the credit scores and incomes of both applicants, increasing the chances of approval. Ensure you trust your joint applicant or co-signer, as your finances will be intertwined.

Conclusion

Obtaining a personal loan can be a critical financial decision. Prepare yourself by implementing the strategies outlined in this guide to maximize your personal loan approval odds. By taking proactive steps, you enhance your chances of securing a personal loan in El Monte and achieving your financial goals.

FAQ

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

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

What is the biggest loan amount in El Monte, California?

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

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

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

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