5.99 - 24.99 %
APR
2 - 5 years
Loan Term
Check rates
On Payoff®‘s site

Best Personal Loans in Iowa

We have found 48 personal loans in Iowa. Compare and choose the best loan for your purpose.

Updated May 23, 2022
Showing 48 personal loans
APR
5.99 - 24.99 %
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 5.99% and 24.99% APR. Minimum loan amount and APR may vary in certain states.

See Payoff® full product review
Check rates
On Payoff®‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

**Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Read full review

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
2.49 - 19.99 %
with Autopay
Term
2 - 12years
Loan amount
$5,000 - $100,000
  • Minimum credit:
    scorer
    Good (670-739)
  • 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 LightStream‘s site
APR
4.99 - 19.53 %
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 5.24% to 19.78% (without 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 SoFi‘s site
APR
6.74 - 19.74 %
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 19.99%.

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

See Marcus by Goldman Sachs full product review
Check rates
On Marcus by Goldman Sachs‘s site
APR
7.04 - 35.89 %
Term
3 - 5years
Loan amount
$1,000 - $40,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • 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 7.04% to 35.89%. 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 LendingClub‘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 OneMain Financial‘s site
APR
5.99 - 24.99 %
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:
    Debt Consolidation 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 5.99% and 24.99% APR. Minimum loan amount and APR may vary in certain states.

See Payoff® full product review
Check rates
On Payoff®‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Major Purchase
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

**Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Read full review

See Upgrade full product review
Check rates
On Upgrade‘s site
APR
5.94 - 35.97 %
Term
3 - 5years
Loan amount
$1,000 - $50,000
  • Minimum credit:
    scorer
    Fair (580-669)
  • Origination fee:
    2.9 - 8%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Debt Consolidation Loan
  • Pros:
    • Fast funding**
    • Wide range of loan amounts
    • Accessible to most borrowers
  • Cons:
    • Origination fee

Upgrade personal loans are designed for mainstream appeal, supporting a wide range of credit scores and incomes.

Upgrade offers 36-month or 60-month fixed-rate personal loans, which generally range from $1,000 to $50,000, in 44 states. Upgrade loans are not available in Colorado, Connecticut, Iowa, Maryland, Vermont and West Virginia.

Eliminate high-interest debt and credit card payments with a lower rate.

You can repay your Upgrade personal loan over three or five years.

To apply for an Upgrade personal loan, you’ll start by filling out a one-page application to see which terms you qualify for based on a soft credit check (or credit inquiry that doesn’t impact your credit score).

**Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Read full review

See Upgrade full product review
Check rates
On Upgrade‘s site
Search for best loan
Showing 48 personal loans
Amount
$
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 Iowa

Showing 5 banks
Sort by: Branches
Branches 82 bank branches
Total Assets (US$M)564,154,604
Altoona Branch
111 8Th St Se, Altoona, IA, 50009-1938
Ames Main Branch
405 Main St, Ames, IA, 50010-6149
Ames North Grand Branch
2615 Grand Ave, Ames, IA, 50010-4600
Show all departments
Branches 58 bank branches
Total Assets (US$M)1,779,504,000
Adel
100 Nile Kinnick Dr N, Adel, IA, 50003
Monday: 9:00 AM - 5:00 PM
Ames Main
424 Main St, Ames, IA, 50010
Monday: 9:00 AM - 5:00 PM
Ames
3910 Lincoln Way, Ames, IA, 50014
Monday: 9:00 AM - 5:00 PM
Show all departments
Branches 24 bank branches
Total Assets (US$M)104,790,698
Ames
525 Main Street, Ames, IA, 50010
Ankeny Branch
411 North Ankeny Boulevard, Ankeny, IA, 50023
Boone Branch
717 Eighth Street, Boone, IA, 50036
Show all departments
Branches 8 bank branches
Total Assets (US$M)162,193,000
Indianola
114 N. Howard Street, Indianola, IA, 50125
Monday: 9:00 AM - 5:00 PM
Des Moines Urbandale
2851 86Th Street, Urbandale, IA, 50322
Monday: 9:00 AM - 5:00 PM
Cedar Falls University Ave
4417 University Avenue, Cedar Falls, IA, 50613
Monday: 9:00 AM - 5:00 PM
Show all departments
Branches 3 bank branches
Total Assets (US$M)2,519,525,000
West Des Moines
3400 Westown Pkwy, West Des Moines, IA, 50266
Monday: 9:00 AM - 4:00 PM
Ingersoll
Monday: 9:00 AM - 4:00 PM
Meredith
8525 Meredith Dr, Urbandale, IA, 50322
Monday: 9:00 AM - 4:00 PM

How to choose the best personal loan in Iowa?

Personal loans can be a helpful tool to fill in any gaps in your budget. When used smartly, a personal loan can give some financial flexibility and improve your financial health. So, it is important to find a loan that meets your financial needs. With that in mind, here are some strategies for comparing and choosing the best personal loan in Iowa.

Annual Percentage Rates

The annual percentage rate (APR) is one of the most important aspects of a loan to consider. The APR is usually a more accurate indicator of how much you will pay than just the interest rate as APR also includes fees into the amount. Comparing APR instead of simple interest rates can tell you which loan will cost you more in the long run.

The APR in Iowa varies from 2.99% to 35.99%.

Loan Amount

You might not know exactly how much money you need, so it helps to research loan amount options and pick a lender that provides a substantial amount. In Iowa you can find loans from $500 to $100,000. There is an option to choose a lender that allows you to withdraw a loan in parts and only pay interest on the money that you actually use. These kinds of flexible loans are a good match for projects where it may not be immediately apparent how much you will need at each particular period of time, like home renovations or car repairs.

Monthly Payments

The monthly payment is the amount you have to pay every month. Make sure that the monthly amount is something that fits comfortably into your budget. You have to be able to pay your general bills while also paying back the loan plus interest.

Credit Requirements

Most lenders prefer borrowers with good to excellent credit (670 or higher). Nevertheless, some lenders will accept those with poor to fair credit. Having a high credit score does not necessarily mean that you will get approved with a lower rate, but it will definitely increase your chances. The lowest credit score acceptable in Iowa is Poor (300-579). So you need to tailor your search to your credit score to get the best possible loan terms.

Collateral

Most personal loans are unsecured, which means they do not require collateral. Though, some loans will require it. Secured loans often have lower interest rates as the lender incurs less risk with the collateral present. Unsecured loans, in contrast, usually have higher interest rates. So if you are worried about high interest rates (which can be as high as 35.99% in Iowa), a secured personal loan might be a good option.

Origination Fee

Most lenders charge processing fees in addition to interest charges. The processing fee, also called loan origination fee, is a percentage of the total loan amount. The normal loan origination fee is around 0.5%-1% of the loan amount, but amounts may vary from lender to lender. Choosing a personal loan with low processing fees can save you money in the long run.

Compare and choose the best personal loan in Iowa

Personal loans are a useful financial tool and can help simplify your finances. The side-by-side comparison of all loan offers available in Iowa will help you when choosing a loan with good terms for your financial situation.

LenderAPRLoan AmountLoan termOrigination FeeScore RequiredApply
Payoff®
5.99 - 24.99%$5,000 - $40,0002 - 5 years5%From Good (670-739) to Excellent (740-799)Check rates
On Payoff®‘s site
Upgrade
5.94 - 35.97%$1,000 - $50,0003 - 5 years2.9 - 8%From Fair (580-669) to Excellent (740-799)Check rates
On Upgrade‘s site
LightStream
2.99 - 20.49%$5,000 - $100,0002 - 12 yearsNo origination fee.From Good (670-739) to Excellent (740-799)Check rates
On LightStream‘s site
SoFi
5.24 - 19.78%$5,000 - $100,0002 - 7 yearsNo origination fee.From Good (670-739) to Excellent (740-799)Check rates
On SoFi‘s site
Marcus by Goldman Sachs
6.99 - 19.99%$3,500 - $40,0003 - 6 yearsNo origination fee.From Fair (580-669) to Excellent (740-799)Check rates
On Marcus by Goldman Sachs‘s site
LendingClub
7.04 - 35.89%$1,000 - $40,0003 - 5 years3 - 6%From Fair (580-669) to Excellent (740-799)Check rates
On LendingClub‘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 OneMain Financial‘s site

These particular characteristics of the loan were added to the table because we consider them the most important ones when comparing personal loans.

5 simple tips for increasing personal loan approval odds in Iowa

The last thing you want is to go through the loan process and get refused. Spending the time to maximize your odds of personal loan approval will undoubtedly benefit you in the future. So, if you are considering a loan in Iowa, here are five steps to maximizing your personal loan approval odds.

1. Get Your Credit in Shape

The best way to increase your loan approval odds is to improve your credit score. Though the minimum credit score requirements we have found in Iowa is Poor (300-579) having a high credit score will make it more likely that you will be approved. Here are some ways to improve your credit score:

  • Don’t miss any debt payments. Your payment history is one of the most important factors determining your credit score.
  • Keep total credit utilization low. The less of your total credit limit you are using, the better.
  • Don’t apply for new credit too much. Hard inquiries can damage your credit score, so avoid applying for new credit lines.
  • Dispute errors. About 1 in 5 credit reports have errors in them. You can dispute errors and have them removed to increase your credit score.

2. Increase Your Income

Lenders look at your debt-to-income ratio when considering approval, so one way to improve your chances is to increase your income. Of course, it is easier said than done, however, there are still some options to achieve an income increase. You can ask for a raise at your job, or you can pick up a part-time job to make extra money. Any income increase makes your debt-to-income ratio lower and improves your odds.

3. Avoid Debt

Avoid taking on any new debt while you are searching for a personal loan. Lenders consider debt to be a risk, so any debt you have will have a negative impact on your odds. So try to avoid acquiring new debt and try to pay off any existing debts. The less debt you have, the easier it will be to get the personal loan.

4. Be Realistic About Amounts

If you ask for more money, then you are asking the lender to take on more risk. The maximum amount available in Iowa is $100,000, but it’s not very easy to get this amount. The more money you want, the more income you will need to pay it off. Thus, you are probably more likely to be approved for smaller loan amounts. Small loans do not impose as much risk to lenders, and you will have an easier time paying back a small loan. Figure out exactly how much money you need, and ask for the minimum required amount. The minimum amount lenders offer in Iowa is $500.

5.Get a Joint Applicant

You can also consider finding a joint applicant. If you sign up with a joint applicant, lenders will take into consideration both of your credit scores and incomes. You can also find a co-signer. A co-signer agrees to pay off the loans if you default. Make sure that you trust your joint applicant or co-signer as your finances will be tied together.

Conclusion

Getting a personal loan may sometimes be necessary, so you need to be ready for the possibility. If you start working this out today, you can maximize your odds of being approved for a personal loan.

FAQ

  • What is the highest interest rate on a personal loan in Iowa?

    The highest interest rate on personal loan in Iowa is 35.99%.
  • What is the biggest loan amount in Iowa?

    The biggest personal loan amount in Iowa is $100,000.
  • Which credit score do I need to have to get a personal loan in Iowa?

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

Loans in other cities in Iowa