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

Best Personal Loans in Salt Lake City (UT)

We have found 116 personal loans to apply for in Salt Lake City, UT. Add more criteria to compare personal loans and find the best one for you.

By Myfin Team
Updated March 28, 2024
Showing 116 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
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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.
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Showing 116 personal loans
Amount
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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 Salt Lake City

Showing 5 banks
Sort by: Branches
Branches 17 bank branches
Total Assets (US$M)1,712,535,000
Wells Fargo Center
Thursday: 9:00 AM - 5:00 PM
East Broadway
Thursday: 9:00 AM - 5:00 PM
First Security
Thursday: 9:00 AM - 5:00 PM
Show all departments
Branches 15 bank branches
Total Assets (US$M)87,783,903
East Millcreek Financial Center Branch
3310 South 2300 East, Salt Lake City, UT, 84109
Zions Credit Branch
37 West 100 South, Salt Lake City, UT, 84101
21st South Branch
910 West 21St South, Salt Lake City, UT, 84119
Show all departments
Branches 14 bank branches
Total Assets (US$M)3,380,824,000
Branches 13 bank branches
Total Assets (US$M)582,252,757
Branches 9 bank branches
Total Assets (US$M)184,673,175
Fourth South Fourth East Branch
410 East 400 South, Salt Lake City, UT, 84111
Olympus Hills Branch
4025 South Wasatch Boulevard, Salt Lake City, UT, 84124
Key Bank Tower - Utah Branch
50 South Main Street, Salt Lake City, UT, 84101
Show all departments

How to Select the Best Personal Loan in Salt Lake City, Utah?

When dealing with financial issues and filling financial gaps, personal loans can play an important role. However, it is important to be cautious and choose a loan that suits your specific financial needs. To help you make an informed decision, below are some strategies for comparing and choosing the best personal loan in Salt Lake City, Utah.

Annual Percentage Rates (APR)

When assessing loan options, it's essential to give careful attention to the annual percentage rate (APR), as it serves as a crucial factor. The APR offers a more precise depiction of the comprehensive loan cost by encompassing both interest rates and associated fees. Comparing APRs allows you to pinpoint the loan that will ultimately incur higher expenses. In Salt Lake City, Utah, APRs span from 4.49% to 36%.

Loan Amount

Conduct research on the available loan amounts and choose a lender that provides the specific sum of money you require. In Salt Lake City, Utah, loans ranging from $100 to $500,000 are at your disposal. Seek out lenders that permit partial withdrawals, allowing you to pay interest solely on the portion of funds you use. This adaptability proves advantageous for projects with unpredictable funding needs, such as home renovations or vehicle repairs.

Monthly Payments

Make certain that the monthly payment aligns comfortably with your budget. It's crucial to ensure that you can meet your routine financial responsibilities while simultaneously repaying the loan and addressing the interest.

Credit Requirements

Many lenders tend to favor borrowers with good to excellent credit scores (670 or above). Nevertheless, there are some lenders who are willing to work with individuals having poor to fair credit. Although having a higher credit score doesn't guarantee a lower interest rate, it does enhance your likelihood of being approved. In Salt Lake City, the minimum acceptable credit score is categorized as Poor (300 - 579). To secure the most favorable loan terms, it's advisable to focus your search on lenders that are open to your credit score range.

Collateral

Although the majority of personal loans are unsecured and do not necessitate collateral, there are instances where collateral may be necessary. Secured loans generally come with lower interest rates because the lender encounters reduced risk when there is collateral involved. Conversely, unsecured loans tend to carry higher interest rates. If you are apprehensive about the potential for high interest rates (which can go as high as 36% in Salt Lake City), you might want to explore secured personal loan alternatives.

Origination Fee

Many lenders charge processing fees in addition to interest. The origination fee, a percentage of the total loan amount, varies among lenders. Choosing a personal loan with low origination fees can save you money in the long run.

Compare and Choose the Best Personal Loan in Salt Lake City, Utah

When it comes to choosing a personal loan, performing a thorough side-by-side comparison of the available loan options in Salt Lake City is essential. This approach will empower you to make a well-informed decision, selecting terms that are most suitable for your specific 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
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

Tips for Increasing Personal Loan Approval Odds in Salt Lake City, Utah

To increase your chances of personal loan approval in Salt Lake City, consider the following steps:

  • Improve Your Credit. Boosting your credit score stands as the most effective means of improving your chances of securing loan approval in Salt Lake City. While the minimum credit score threshold can be categorized as Poor (300 - 579), having a higher credit score substantially increases your prospects. Concentrate on punctual debt repayments, maintaining a low total credit utilization, reducing credit applications, and addressing any inaccuracies present in your credit report.
  • Increase Your Income. During the approval process, lenders assess your debt-to-income ratio. Boosting your income can reduce this ratio and increase your chances of approval. Consider negotiating for a higher salary at your current job or explore part-time employment options to supplement your income.
  • Avoid New Debt. Minimize acquiring new debt while applying for a personal loan. Lenders consider existing debt as a risk factor that can potentially reduce your chances of approval. Concentrate on paying off your existing debts and avoid accumulating new ones during this time.
  • Be Realistic with Loan Amounts. Lenders are cautious about approving large loan amounts due to increased risk. While the maximum amount available in Salt Lake City is $500,000, obtaining such a sum can be challenging. Consider requesting smaller loan amounts that align with your income. Small loans pose less risk to lenders and are easier to pay off. Determine your precise funding needs and apply for the minimum required amount, which is $100 in Salt Lake City.
  • Joint Applicant. Explore the possibility of having a joint applicant for your loan. Lenders consider both credit scores and incomes of joint applicants, potentially improving your approval odds. Alternatively, you can find a co-signer who agrees to pay the loan if you default. Ensure that your joint applicant or co-signer is reliable, as your finances will be interconnected.

Conclusion

Obtaining a personal loan may become necessary in specific situations, but adequate preparation is key. By being proactive and adhering to these recommendations, you can increase your chances of approval when seeking a personal loan in Salt Lake City, Utah.

FAQ

What is the highest interest rate on a personal loan in Salt Lake City, Utah?

The highest interest rate on personal loan in Salt Lake City is 36%.

What is the biggest loan amount in Salt Lake City, Utah?

The biggest personal loan amount in Salt Lake City is $500,000.

What credit score do I need to have to get a personal loan in Salt Lake City, Utah?

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

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