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

Best Personal Loans in Louisiana

We have found 119 personal loans in Louisiana. Compare and choose the best loan for your purpose.

By Myfin Team
Updated June 12, 2024
Showing 119 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
$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
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 119 personal loans
Amount
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Credit Score
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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 Louisiana

Showing 5 banks
Sort by: Branches
Branches 125 bank branches
Total Assets (US$M)3,380,824,000
Veterans
3783 Veterans Blvd, Metairie, LA, 70002
Wednesday: 9:00 AM - 5:00 PM
Severn
3420 Severn Ave, Metairie, LA, 70002
Wednesday: 9:00 AM - 5:00 PM
Roosevelt
8923 Veterans Blvd, Metairie, LA, 70003
Wednesday: 9:00 AM - 5:00 PM
Show all departments
Branches 83 bank branches
Total Assets (US$M)126,717,894
Severn
3050 Severn Avenue, Metairie, LA, 70002
Wednesday: 9:00 AM - 5:00 PM
West Esplanade
4949 West Esplanade Avenue, Metairie, LA, 70006
Wednesday: 9:00 AM - 5:00 PM
Bonnabel
1501 Veterans Boulevard, Metairie, LA, 70005
Wednesday: 9:00 AM - 5:00 PM
Show all departments
Branches 74 bank branches
Total Assets (US$M)159,787,000
576 E William David Dr Metairie
576 E William David Drive, Metairie, LA, 70005
Wednesday: Closed
Causeway
3525 N. Causeway Boulevard, Metairie, LA, 70002
Wednesday: Closed
Cleary
3908 Veterans Boulevard, Metairie, LA, 70002
Wednesday: Closed
Show all departments
Branches 62 bank branches
Total Assets (US$M)84,803,751
Veterans Branch
3801 Veterans Memorial Boulevard, Metairie, LA, 70002
Causeway Branch
3351 North Causeway Boulevard, Metairie, LA, 70002
Metairie Road Branch
468 Metairie Rd, Metairie, LA, 70005
Show all departments
Branches 1 bank branches
Total Assets (US$M)

How to choose the best personal loan in Louisiana?

When looking for the best personal loan in Louisiana, it's important to consider various factors that align with your financial needs. Follow these strategies to compare and choose the most suitable personal loan:

  • Consider Annual Percentage Rates (APR). The APR, which includes fees along with the interest rate, is a vital factor to consider. Comparing APRs, rather than just interest rates, provides a more accurate picture of the total cost over time. In Louisiana, APRs range from 4.49% to 36%.
  • Evaluate Loan Amount Options. Research lenders that offer a suitable range of loan amounts. In Louisiana, loans are available from $100 to $500,000. Opt for a lender that allows partial loan withdrawals, with interest charged only on the amount used. This flexibility is beneficial for projects where the required funds may vary over time, such as home renovations or car repairs.
  • Assess Monthly Payments. Ensure that the monthly payment amount comfortably fits within your budget. It should allow you to meet other financial obligations while repaying the loan and interest.
  • Review Credit Requirements. While many lenders prefer borrowers with good to excellent credit (670 or higher), some accept individuals with poor to fair credit. Although a higher credit score increases approval chances, it doesn't guarantee a lower interest rate. In Louisiana, the minimum acceptable credit score is Poor (300 - 579). Tailor your search based on your credit score to secure the best loan terms.
  • Consider Collateral. Personal loans are typically unsecured, meaning they don't require collateral. However, some loans may require collateral, resulting in lower interest rates due to reduced risk for the lender. If you're concerned about high interest rates (which can reach up to 36% in Louisiana), consider a secured personal loan.
  • Evaluate Origination Fees. Lenders charge origination or processing fees in addition to interest. These fees, usually a percentage of the total loan amount, can vary between lenders. Choosing a personal loan with low processing fees can save you money in the long run.

Comparing and selecting the best personal loan in Louisiana

To assist in your decision-making process, compare and evaluate different personal loan offers available in Louisiana. The provided table includes key loan characteristics to help you make an informed choice.

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

Increasing Personal Loan Approval Odds in Louisiana

To increase your approval odds for a personal loan in Louisiana, consider the following steps:

  1. Get your credit in shape. Enhancing your credit score is the most effective way to increase approval odds. Although the minimum credit score requirements in Louisiana can be as low as Poor (300 - 579), having a higher score improves your chances of approval.
  2. Increase your income. Lenders consider your debt-to-income ratio during the approval process. Increasing your income can enhance your odds. Explore possibilities such as negotiating a raise at your current job or taking up a part-time job to supplement your earnings.
  3. Avoid debt. Lenders also consider your debt-to-income ratio when assessing your loan application. If you have a lot of debt, you may be less likely to be approved for a personal loan.
  4. Be realistic about the loan amount. Requesting a smaller loan amount enhances approval chances, as it poses less risk to lenders. Determine the precise amount you require and ask for the minimum loan amount offered by lenders in Louisiana (starting from $100).
  5. Consider Joint Applicants. Applying with a joint applicant allows lenders to consider both credit scores and incomes. Alternatively, seek a co-signer who agrees to pay off the loan in case of default. Ensure you can rely on the joint applicant or co-signer, as your finances will be interconnected.

Conclusion

In conclusion, by preparing in advance and implementing these measures, you can increase your chances of obtaining a personal loan in Louisiana.

FAQ

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

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

What is the biggest loan amount in Louisiana?

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

What credit score do I need to have to get a personal loan in Louisiana?

To get approved for a personal loan in Louisiana 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 Louisiana