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

Best Personal Loans in Lansing (MI)

We have found 114 personal loans to apply for in Lansing, MI. Add more criteria to compare personal loans and find the best one for you.

By Myfin Team
Updated December 11, 2024
Showing 114 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 114 personal loans
Amount
$
Credit Score
City, state or Zip
  • Lansing, MI
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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 Lansing

Showing 5 banks
Sort by: Branches
Branches 6 bank branches
Total Assets (US$M)87,024,000
Frandor Branch
223 Clippert Street, Lansing, MI, 48912
Eastwood Towne Center Branch
2615 Lake Lansing, Lansing, MI, 48912
Lansing Mall Branch
5510 West Saginaw Street, Lansing, MI, 48917
Show all departments
Branches 5 bank branches
Total Assets (US$M)534,346,587
Washington Square
Wednesday: 9:00 AM - 5:00 PM
Delta
Wednesday: 9:00 AM - 6:00 PM
Edgewood
Wednesday: 9:00 AM - 6:00 PM
Show all departments
Branches 4 bank branches
Total Assets (US$M)3,380,824,000
West Saginaw
Wednesday: 9:00 AM - 5:00 PM
Frandor
Wednesday: 9:00 AM - 5:00 PM
South Pennsylvania
Wednesday: 9:00 AM - 5:00 PM
Show all departments
Branches 3 bank branches
Total Assets (US$M)2,440,022,000
South Pointe
Wednesday: 9:00 AM - 4:00 PM
Frandor
Wednesday: 9:00 AM - 4:00 PM
Delta
Wednesday: 9:00 AM - 4:00 PM
Branches 3 bank branches
Total Assets (US$M)205,546,136
S. Pennsylvaia Branch
5620 South Pennsylvania Avenue, Lansing, MI, 48911
Stadium District
500 East Michigan Ave Ste 110, Lansing, MI, 48912
West Lansing Financial Center Branch
5117 West Saginaw Highway, Lansing, MI, 48917

Choosing the Ideal Personal Loan in Lansing, Michigan

When utilized responsibly, personal loans can be valuable tools for bridging financial gaps and improving overall financial well-being. Therefore, it is crucial to carefully select a loan that aligns with your specific financial circumstances. With that goal in mind, here are effective strategies for comparing and choosing the most suitable personal loan in Lansing, Michigan.

  • Annual Percentage Rates (APR). Evaluating different lending options involves considering the annual percentage rate (APR). The APR provides a more comprehensive understanding of the total loan cost, as it encompasses both the interest rate and associated fees. By comparing APRs, rather than solely focusing on the interest rates, you can gauge which loan will incur higher expenses in the long run. In Lansing, the APR typically ranges from 4.49% to 36%.
  • Loan Amounts. Researching and exploring loan amount options from various lenders is crucial to securing the necessary funds. In Lansing, loans are available across a wide range, spanning from $100 to $500,000. Opting for a lender that allows incremental withdrawals and permits you to pay interest solely on the utilized amount is especially advantageous for projects with fluctuating financial needs, such as home renovations or car repairs.
  • Monthly Payments. Ensure that the monthly payment amount comfortably fits within your budget, allowing you to cover regular expenses while repaying the loan and interest.
  • Credit Requirements. While most lenders prefer borrowers with good to excellent credit scores (670 or higher), some are willing to consider individuals with poor to fair credit. Although a high credit score does not guarantee lower interest rates, it improves your chances of approval. In Lansing, the minimum acceptable credit score is Poor (300 - 579). Tailor your search to lenders that cater to your credit score range to secure the best loan terms.
  • Collateral Requirements. Most personal loans are unsecured and do not require collateral. However, some loans may necessitate collateral, which can result in lower interest rates due to reduced risk for the lender. If you wish to avoid high interest rates (which can reach up to 36% in Lansing), consider a secured personal loan as an alternative.
  • Origination Fees. In addition to interest rates, many lenders charge processing fees, also known as loan origination fees. Typically, these fees represent a percentage of the total loan amount and vary among lenders. Choosing a personal loan with low origination fees can lead to long-term savings.

Compare and choose the best personal loan in Lansing

Here's a comparison of various lenders offering personal loans in Lansing:

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

The table above includes essential loan characteristics for easy comparison, as these factors are crucial when assessing personal loan options.

5 Tips for Maximizing Personal Loan Approval Odds in Lansing, Michigan

  1. Improve Your Credit. Improving your credit rating is the most effective method of increasing your chances of getting credit. This requires making timely payments on your debts, maintaining a low credit utilization rate, minimizing the number of new credit applications, and correcting any errors on your credit report in a timely manner. By taking these steps, you can greatly improve your chances of getting approved for credit.
  2. Increase Your Income. During the loan approval process, lenders assess your debt-to-income ratio. Increasing your income, whether by negotiating a raise or taking on a part-time job, can effectively lower this ratio and significantly improve your chances of getting approved for a loan. By enhancing your income, you enhance your overall financial position and increase the likelihood of loan approval.
  3. Minimize Debt. While searching for a personal loan, avoid acquiring new debt. Lenders perceive debt as a risk, negatively affecting your approval odds. Aim to pay off existing debts and refrain from accumulating new ones to make it easier to repay the personal loan.
  4. Request Realistic Loan Amounts. Requesting a larger loan amount increases the risk for lenders. While Lansing offers a maximum loan amount of $500,000, larger amounts are harder to obtain. Lenders are more likely to approve smaller loan amounts. Assess your exact needs and request the minimum amount required. In Lansing, the minimum loan amount available is $100.
  5. Consider a Joint Applicant. Adding a joint applicant to your loan application can strengthen it. Lenders consider both credit scores and incomes when there's a joint applicant involved. Alternatively, you can find a co-signer who agrees to repay the loan if you default. Ensure you choose a reliable joint applicant or co-signer, as your financial matters will be interconnected.

Conclusion

Preparing for a personal loan is crucial in certain circumstances, ensuring that you are ready when the need arises. By taking proactive measures now, you can significantly enhance your chances of securing a personal loan in Lansing. By following these steps, you can optimize your likelihood of obtaining a personal loan that meets your financial requirements.

FAQ

What is the highest interest rate on a personal loan in Lansing, Michigan?

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

What is the biggest loan amount in Lansing, Michigan?

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

What credit score do I need to have to get a personal loan in Lansing, Michigan?

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

Author, editor

content@myfin.us

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