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

Best Personal Loans in the District of Columbia

We have found 106 personal loans in the District of Columbia. Compare and choose the best loan for your purpose.

By Myfin Team
Updated June 20, 2024
Showing 106 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
18 - 35.99 %
Term
2 - 5years
Loan amount
$1,500 - $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
APR
5.4 - 35.99 %
Term
1 - 7years
Loan amount
$600 - $100,000
  • Minimum credit:
    scorer
    Good (670-739)
  • Origination fee:
    Depends on the lender
  • Funds available in:
    24 hours
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Checking rates will not affect your credit score
    • Personal information is not sold to lenders
    • Available rates and lenders will appear based on preferred settings, with no bias
    • Receive actual rates based on your credit profile, not estimates
  • Cons:
    • Not a direct lender

Credible.com is a financial marketplace that helps thousands of Americans to get personal loans at the best rates they qualify for.

On Credible.com you can apply for a personal loan of up to $100,000. Then it will match your application with offers on the market and help you to find the lowest rate, based on your credit profile.

Credible.com is free to use and doesn't have any hidden fees.

See Credible full product review
Check rates
On Credible.com
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.
Search for best loan
Showing 106 personal loans
Amount
$
Credit Score
City, state or Zip
  • Alabama
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  • District of Columbia
  • Florida
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  • Virginia
  • Washington
  • Wisconsin
  • West Virginia
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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 District of Columbia

Showing 5 banks
Sort by: Branches
Branches 38 bank branches
Total Assets (US$M)3,380,824,000
Mcpherson Square New York
Thursday: 9:00 AM - 5:00 PM
Minnesota Ave And Clay
Thursday: 9:00 AM - 5:00 PM
Capital Riverfront M St And New Jersey Ave
Thursday: 9:00 AM - 5:00 PM
Show all departments
Branches 33 bank branches
Total Assets (US$M)1,712,535,000
Chevy Chase Circle
Thursday: 9:00 AM - 5:00 PM
Friendship Heights
Thursday: 9:00 AM - 5:00 PM
Show all departments
Branches 31 bank branches
Total Assets (US$M)532,080,000
Dc Logan Branch
1804 14Th St Nw, Washington, DC, 20009
Adams Morgan Branch
1801 Adams Mill Road Nw, Washington, DC, 20009
Connecticut & M Branch
1150 Connecticut Avenue, Nw, Washington, DC, 20036
Show all departments
Branches 26 bank branches
Total Assets (US$M)2,440,022,000
K Street
Thursday: 9:00 AM - 4:00 PM
Union Station
Thursday: 9:00 AM - 4:00 PM
1931 14th Street
Thursday: 9:00 AM - 4:00 PM
Show all departments
Branches 21 bank branches
Total Assets (US$M)532,080,000

How to choose the best personal loan in the District of Columbia?

Personal loans can provide valuable support to address financial gaps in your budget. To select the optimal personal loan in the District of Columbia, carefully consider the following factors.

Annual Percentage Rates (APR)

Evaluate the APR, which encompasses both the interest rate and associated fees. This provides a comprehensive understanding of the loan's cost over time.

Loan Amount

Research lenders offering loan amounts suitable for your needs. In the District of Columbia, loans are available from $100 to $500,000. Look for flexibility, such as the ability to withdraw funds incrementally, paying interest only on the utilized amount. This is advantageous for projects with changing funding requirements.

Monthly Payments

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

Credit Requirements

Most lenders prefer good to excellent credit scores (670 or higher), but some may consider individuals with poor to fair credit. While a higher credit score increases approval chances, it doesn't guarantee a better interest rate. The minimum acceptable credit score in the District of Columbia is Poor (300 - 579). Seek lenders accommodating your credit score for favorable loan terms.

Collateral

Most personal loans are unsecured, meaning they do not require collateral. However, some loans may require collateral. Secured loans generally offer lower interest rates as the lender faces less risk with collateral in place. Unsecured loans, on the other hand, typically come with higher interest rates. If you're concerned about high interest rates (which can reach up to 36% in the District of Columbia), a secured personal loan might be a suitable option.

Origination Fee

Many lenders charge processing fees in addition to interest charges. The loan origination fee, typically a percentage of the total loan amount, can vary among lenders. Opt for a personal loan with lower processing fees to save money in the long run. The usual loan origination fee ranges from 0.5% to 1% of the loan amount.

Compare and choose the best personal loan in the District of Columbia

To simplify your research, refer to the provided table, which outlines key characteristics of different loan options available in your state. This comprehensive comparison will assist you in selecting the personal loan with the most favorable terms for your financial circumstances.

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
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
Credible
5.4 - 35.99%$600 - $100,0001 - 7 yearsDepends on the lenderFrom Good (670-739) to Excellent (740-799)Check rates
On Credible.com

5 simple tips for increasing personal loan approval odds in the District of Columbia

To increase your odds of personal loan approval in the District of Columbia, follow these five simple tips:

  1. Improve Your Credit. Enhance your credit score to increase your approval odds. Though the minimum credit score requirement in the District of Columbia is Poor (300 - 579), having a higher credit score improves your chances. Focus on timely debt payments, maintaining low credit utilization, minimizing credit applications, and disputing any errors on your credit report.
  2. Boost Your Income. Lenders assess your debt-to-income ratio during the approval process. Increasing your income can improve your odds of approval. Seek a raise at your current job or consider part-time employment to supplement your earnings. A higher income reduces your debt-to-income ratio and enhances your chances of loan approval.
  3. Minimize New Debt. Avoid acquiring new debt while searching for a personal loan. Lenders view additional debt as a risk factor, so paying off existing debts and refraining from taking on new ones demonstrates financial stability and increases your chances of loan approval.
  4. Set Realistic Loan Amounts. Requesting larger loan amounts increases the lender's risk. While the maximum amount available in the District of Columbia is $500,000, securing such a loan can be challenging. Lenders are more likely to approve smaller loan amounts as they pose lower risk. Determine your precise funding needs and request the minimum required amount. In the District of Columbia, the minimum loan amount is $100.
  5. Consider a Joint Applicant. Explore the option of applying with a joint applicant or finding a co-signer. Lenders consider both credit scores and incomes of joint applicants, increasing the chances of approval. However, choose a joint applicant or co-signer whom you trust, as your financial matters will become interconnected.

Conclusion

Overall, if you prepare carefully and take proactive steps, you can greatly increase your chances of being approved for a personal loan in your state. Following these strategies will allow you to choose a loan that fits your financial requirements and goals.

FAQ

What is the highest interest rate on a personal loan in the District of Columbia?

The highest interest rate on personal loan in the District of Columbia is 36%.

What is the biggest loan amount in the District of Columbia?

The biggest personal loan amount in the District of Columbia is $500,000.

What credit score do I need to have to get a personal loan in the District of Columbia?

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

Author, editor

content@myfin.us

Loans in other cities in District of Columbia