Best Personal Loan Lender in Montgomery, AL: Truist

MoneyGeek analyzed the BBB rating, loan amounts, repayment terms, interest rates, fees, credit score and income requirements, funding time and other important details to determine the lender that offers the best personal loans in Montgomery.

Our analysis shows that overall, Truist is the best personal loan lender in Montgomery, while SoFi and Upstart offer the best personal loans for individuals with good and bad credit, respectively. If you want a loan for debt consolidation, Upgrade may be a good option. For home improvements, Best Egg would be the best option.

Best Overall Personal Loan Lender in Montgomery, AL: Truist

  • Truist

    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


Best Personal Loan Lender for Bad Credit in Montgomery, AL: Upstart

  • Upstart

    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


Best Personal Loan Lender for Good Credit in Montgomery, AL: SoFi

  • SoFi

    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds


Best Personal Loan Lender for Debt Consolidation: Upgrade

  • Upgrade

    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds


Best Personal Loan Lender for Home Improvement: Best Egg

  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Best Egg

How to Choose the Best Personal Loan Lender In Montgomery for You

Since a personal loan is a significant commitment and takes about three to five years to pay off, it’s best to analyze your options and make the decision accordingly. Before finalizing the lender, you should consider your existing debts, repayment term, fees and other important details of the lender’s loan agreement. MoneyGeek outlined the following steps to help you make a decision.


Ask Yourself the Important Questions

Before looking around and finalizing a lender, it’s important to ask yourself some important questions. Consider if you need to take out a loan or if you can cover your emergency expenses from another source. You should also look at your existing debts and determine if you could still easily make monthly payments for an additional loan. Since a personal loan is a long-term commitment, see if any upcoming life event would affect your monthly loan payments. It’s also best to consider your credit score and income level to see if it’s enough to get approval for a personal loan. You can start by asking yourself the following questions:

  1. How much funding do I need?
  2. What is my credit score?
  3. Can I afford the monthly payment?
  4. How much debt do I already have?

Do Your Research

Once you’re sure that a personal loan is the only way to meet your financial needs, you should start researching different lenders to see which one would suit you best. You might be able to find lower interest rates by shopping around and comparing different lenders. Look for lenders that do not perform a hard credit inquiry first, so you can get an online estimate without affecting your credit scores. You can also read customer reviews and ask around to see which lender offers the best service quality. MoneyGeek has analyzed different lenders and provided essential details to help you in your research.



After finalizing some lenders, it’s best to wait a few days and think through your decision to get a personal loan. You should be sure that opting for a personal loan is the best option in your situation and would help you meet your financial needs. Since a personal loan can take a few years to pay off, it’s best not to apply for it if you can get funds another way.


Read the Fine Print

Once you have chosen your personal loan lender, you should look into their fees and any other charges they might have, like prepayment penalties, origination fees, late payment fees and interest rates. You can find this information on the lender’s website or in the fine print of the lender’s loan agreement. MoneyGeek has also explained different fees charged by lenders. Doing so will help you save a lot of money in the long run.



You can proceed with applying for a personal loan after you have analyzed all the essential details. At this point, the lender may require identification, address verification and proof of income. While submitting an online application would be the most convenient for you, you can also visit or call the lender to apply.

What to Do if You Can’t Get a Personal Loan in Montgomery, AL

You should not sweat it if the lender rejects your loan application. Lenders can reject loan applications for various reasons, including low-income level, debt-to-income ratio, incomplete application and missing information. However, the most common reason behind a denied personal loan is a low credit score.

Lenders are required by law to give you the reason why they rejected your loan application. You can call or email the lender and ask them to identify the factors behind the denial. If your application is rejected you can modify your loan application by adjusting your repayment terms or the loan amount. It is important to address these factors before submitting another loan application.

It might also be tempting to apply for a payday loan. However, MoneyGeek advises against it because payday loans usually have very high interest rates and shorter repayment terms. This might cause you to accumulate a lot of debt, especially if you’re unable to pay the loan before the due date.

Frequently Asked Questions About Personal Loans in Montgomery, AL

MoneyGeek researched the following frequently asked questions to help you find the best personal loans in Montgomery.

Our Personal Loan Methodology

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible, like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.


The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.