Need an Alternative to a Capital One Personal Loan? Here’s Where to Look

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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.

capital one personal loan alternatives

You could be out of work and need to cover rent, or maybe you just have high-interest debt you want to refinance more cheaply. If you run into situations like these, it might be time to start looking for a personal loan.

Some people look to Capital One or other large U.S. banks, but many of them don’t offer unsecured personal loans. So what are some Capital One personal loan alternatives? And what is an unsecured personal loan anyway?

Capital One personal loan alternatives

While Capital One does offer auto loans and a variety of credit cards — from cash-back and travel rewards cards to secured cards for people building credit — it doesn’t offer unsecured personal loans.

Personal loans, which come as either secured or unsecured loans, can be used for anything you want. The difference is that secured loans require collateral, or something you offer as security. For example, if you can’t pay back a secured loan on time, a lender can seize the collateral, such as your car or home.

Unsecured loans are a little harder to get because your credit score is taken into consideration. On the upside, they generally have lower interest rates than credit cards.

While some of the big banks like Capital One don’t offer unsecured loans, there are many other options.

Of course, you’ll first need to determine if a personal loan is right for you. It’s still a loan, so you’ll need to be sure you’ll be able to pay it back. But if you decide it’s the best move for you, then you have lots of Capital One personal loan alternatives from which to choose.

Banks that offer personal loans

Although not all banks offer personal loans, there are a few that do. Before you can borrow, you might need to be a customer with an active checking or savings account.

Big banks often allow for high borrowing limits, but they don’t always have the lowest rates. So if you’re looking for a large loan, one of these banks might be able to meet your needs.

At Citibank, loans range from $2,000 to $50,000, with an APR as low as 7.99% as of April 19, 2018. You’ll need to meet minimum income and credit score requirements to be considered.

Among the big banks, you have a good shot at getting a personal loan at Wells Fargo. It doesn’t require you to have an account before applying, but it does offer deals if you already bank there. Depending on your credit score, you could get an interest rate as low as 6.99%. Loans range from $3,000 to $100,000.

Smaller national banks, including SunTrust and PNC, also offer unsecured personal loans. But since they’re not as big as other national banks, you might not have a branch near you. If you have statewide or local banks, you should contact them to see if they offer personal loans.

Here are some of the big banks that offer personal loans:

Bank Borrowing amounts APRs Repayment terms
Citibank* $2,000 – $50,000 7.99%  17.99% 1 – 5 years
Wells Fargo $3,000 – $100,000 7.24%  24.24% 1 – 5 years
Citizens Bank $5,000 – $50,000 4.99% - 16.24% 3 – 7 years

*These are the borrowing amounts for the U.S. states in Citibank’s “SD/National Region.” The APR range assumes a $10,000 loan. Please check Citibank’s website for information for your specific location.

Personal loans from credit unions

Credit unions are a great opportunity for you to get a personal loan without going through a big bank. Many times, credit unions are more flexible than banks when it comes to qualifying for personal loans, especially if your credit is poor.

Since credit unions tend to be local, offers vary depending on the institution and location. But some credit unions offer better personal loans than others.

They also have payday alternative loans, which are great options for small loans and low fees. Keep in mind that you usually need to be a member of a credit union before qualifying for a personal loan from it.

Here are some of the top credit unions that offer personal loans:

Credit union Borrowing amounts APRs Repayment terms
First Tech Federal Credit Union $500 – $50,000 8.75% and higher Up to 7 years
PenFed Credit Union $500 – $25,000 6.49% and higher 3 – 5 years
Alliant Credit Union $1,000 – $50,000 5.99% and higher 1 – 5 years

Online personal loan lenders

Sometimes you don’t need to be in a physical bank to apply for a personal loan. You can compare personal loan rates to see the ones for which you qualify. There are some lenders that have APRs that are much lower than traditional banks.

If you’re considering an online lender for a personal loan, know your limitations.

For example, if you’re looking for a small loan — say, around $500 — you should skip online lenders. Most don’t provide loans for less than $1,000 or $2,000. Also remember that your credit score is vital to the approval process, so if you can’t get one on your own, consider getting a cosigner.

Many of these lenders do offer competitive interest rates and an easy online application process. Some even approve your application and provide funds in as little as one day. And online lenders also give you the convenience of accessing your loan wherever you are, not wherever they are.

Here are seven leading online loan companies:

Lender Borrowing amounts APRs Repayment terms
LendingClub $1,000 – $40,000 5.99% - 35.89% 3, 5 years
Upstart $1,000 – $50,000 7.73% - 29.99% 3, 5 years
Avant $2,000 – $35,000 9.95% - 35.99% 2 – 5 years
Earnest $2,000 – $50,000 5.49% - 18.24% 1 – 3 years
Payoff $5,000 – $35,000 8.00% - 25.00% 2 – 5 years
SoFi $5,000 – $100,000 5.83% - 14.74% 3 – 7 years
FreedomPlus $10,000 – $35,000 4.99% - 29.99% 2 – 5 years

Find the right personal loan for you

Although you might be disappointed to learn Capital One personal loans don’t exist, you can see that there are many other lenders that offer this product. Getting a personal loan can be a great help, whether you need one to pay your monthly bills or your credit card debt.

Make sure you’re ready for the application process by determining how much you need beforehand. Check your credit score to see if you have the chance to get a personal loan. Then, get an idea of your interest rates and repayment terms.

The more prepared you are before applying, the more likely you are to get the loan you want.

Rebecca Safier contributed to this article.

Note: Student Loan Hero has independently collected the above information related to unsecured personal loans. None of the financial institutions have provided or reviewed the information shared in this article.

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal LoansFixed rates from 5.950% APR to 14.490% APR (with AutoPay). Variable rates from 5.825% APR to 14.365% APR (with AutoPay). SoFi rate ranges are current as of May 3, 2018, and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.825% APR assu[mes current 1-month LIBOR rate of 1.90% plus 4.175% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
  2. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 4.99% – 16.24% (4.99% – 16.24% APR) based on applicable terms. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.

* Important Disclosures for Upgrade Bank


Upgrade Bank Disclosures


  • Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.
  • Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

7.73% - 29.99%$1,000 - $50,000
Check rate nowon SLH's secure site
5.83% - 14.74%1$5,000 - $100,000
Check rate nowon SLH's secure site
5.96% - 35.97%*$1,000 - $50,000Visit Upgrade
8.00% - 25.00%$5,000 - $35,000
Check rate nowon SLH's secure site
4.99% - 29.99%$10,000 - $35,000Visit FreedomPlus
4.99% - 16.24%2$5,000 - $50,000Visit Citizens
15.49% - 34.49%$2,000 - $25,000Visit LendingPoint
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.49% - 18.24%$5,000 - $75,000Visit Earnest
9.95% - 35.99%$2,000 - $35,000Visit Avant
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.