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

Best Personal Loans in Chattanooga (TN)

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

By Myfin Team
Updated March 28, 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
  • Chattanooga, TN
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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 Chattanooga

Showing 5 banks
Sort by: Branches
Branches 17 bank branches
Total Assets (US$M)532,080,000
Chattanooga Main Branch
736 Market St, Chattanooga, TN, 37402
East Third Street Branch
2201 East Third Street, Chattanooga, TN, 37404
Gunbarrel Road Branch
1900 Gunbarrel Rd, Chattanooga, TN, 37421
Show all departments
Branches 14 bank branches
Total Assets (US$M)532,080,000
Branches 12 bank branches
Total Assets (US$M)84,803,751
Northgate Branch
2173 Northgate Park Lane, Chattanooga, TN, 37415
Red Bank Branch
3932 Dayton Boulevard, Chattanooga, TN, 37415
Chattanooga Branch
701 Market Street, Chattanooga, TN, 37402
Show all departments
Branches 9 bank branches
Total Assets (US$M)159,787,000
4538 Hwy 58 Chattanooga
Thursday: 9:00 AM - 4:00 PM
Brainerd
Thursday: 9:00 AM - 4:00 PM
Chattanooga Regions Center
Thursday: 9:00 AM - 5:00 PM
Show all departments
Branches 3 bank branches
Total Assets (US$M)2,440,022,000
Chattanooga Main
Thursday: 9:00 AM - 4:00 PM
Gunbarrel
Thursday: 9:00 AM - 4:00 PM
South Broad
Thursday: 9:00 AM - 4:00 PM

How to Choose the Ideal Personal Loan in Chattanooga, Tennessee?

Choosing the right personal loan in Chattanooga is crucial for bridging financial gaps and enhancing your overall financial well-being. These loans can provide valuable support, but it's essential to utilize effective strategies when comparing and selecting the most suitable option that aligns with your individual financial circumstances. By employing these strategies, you can make a well-informed decision and secure a personal loan that meets your specific needs.

Annual Percentage Rates (APR)

When choosing different lending options, it is crucial to pay close attention to the annual percentage rate (APR). The APR gives a complete picture of the total cost. But pay attention not only to the interest rate, but also to all the additional fees. By comparing APRs, you can determine which loan will result in higher total costs in the long run. In Chattanooga, the APR can range from 4.49% to 36%.

Loan Amount

Since you may not have an exact figure in mind, researching loan amount options can be beneficial. Seek out lenders that provide a broad range of loan amounts, ensuring you have access to a substantial sum. Moreover, consider lenders who offer the option to withdraw funds incrementally, enabling you to pay interest only on the amount you utilize. This approach empowers you with greater financial flexibility and the ability to tailor the loan to your specific needs.

Monthly Payments

It is very important to evaluate your ability to meet your normal financial obligations and still repay your loan amount effectively, including accumulated interest. Thoughtful consideration of this aspect will allow you to maintain financial stability and manage your credit obligations effectively.

Credit Requirements

In Chattanooga, most lenders prefer borrowers with good to excellent credit scores, typically ranging from 670 or higher. However, the lowest acceptable credit score in this area is categorized as Poor, falling within the range of 300 to 579. To secure the most favorable loan terms, tailor your loan search to match your credit score. Being mindful of your credit score range will help you identify lenders who are more likely to offer suitable loan options that align with your financial circumstances.

Collateral

Personal loans are generally unsecured, meaning they do not require collateral. However, certain loan options might necessitate collateral, leading to lower interest rates for borrowers due to reduced risk for lenders. In contrast, unsecured loans usually carry higher interest rates. If you aim to avoid high interest rates, exploring secured personal loans as an alternative option could be worthwhile. Secured loans can provide more favorable terms while minimizing interest expenses, making them a viable choice for those seeking cost-effective borrowing solutions.

Origination Fee

Many lenders charge origination fees alongside interest charges. These fees, expressed as a percentage of the total loan amount, vary among lenders. Opting for a personal loan with lower processing fees can lead to long-term cost savings.

Compare and choose the best personal loan in Chattanooga

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 Chattanooga:

  1. Improving Your Credit Score. Enhancing your credit rating is the most effective way to increase your likelihood of credit approval. While the minimum credit score in Chattanooga might be low (300 - 579), having a higher credit score significantly boosts your chances. To improve your credit rating, ensure timely debt payments, maintain a low credit utilization rate, avoid excessive loan applications, and rectify any inaccuracies in your credit report.
  2. Increasing Your Income. Lenders assess your debt-to-income ratio when evaluating loan applications. By increasing your income, you can improve this ratio and enhance your approval chances.
  3. Avoiding New Debt. When applying for a personal loan, steer clear of accumulating additional debt. Lenders view outstanding debt as a risk factor, which can diminish your approval prospects. Focus on paying off existing debts and abstain from taking on new ones to lessen your overall debt burden and enhance loan repayment feasibility.
  4. Setting Realistic Loan Amounts. Lenders are generally cautious about approving large loan amounts due to associated risks. In Chattanooga, although the maximum loan amount might be $500,000, obtaining approval for such an amount is challenging. Requesting smaller loan amounts increases your approval likelihood. Determine the exact amount you need and apply for the minimum required from lenders. In :name_city, the minimum loan amount is $100.
  5. Considering Joint Applications. Exploring joint applicants or co-borrowers can boost your loan approval chances. Lenders evaluate the credit scores and income of both applicants in such cases. Having a reliable joint applicant or co-borrower will strengthen your financial position in the loan approval process.

Conclusion

When considering the significant decision of obtaining a personal loan in Chattanooga, Tennessee, adequate preparation becomes imperative. Taking proactive measures at this stage can significantly enhance the likelihood of successfully securing a loan in your desired location. Being well-prepared positions you for a smoother loan application process and a higher chance of approval.

FAQ

What is the highest interest rate on a personal loan in Chattanooga, Tennessee?

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

What is the biggest loan amount in Chattanooga, Tennessee?

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

What credit score do I need to have to get a personal loan in Chattanooga, Tennessee?

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

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