Best Personal Loans in Montgomery, AL

Max Credit Union stands out as the best personal loan lender in Montgomery, Alabama, with a MoneyGeek score of 97 out of 100. It offers competitive APRs starting at 9.25% and allows borrowers access to seven branches across Montgomery, enhancing convenience. These factors combine to make it a top choice for personal loans in the area. Established in 1955, Max Credit Union emphasizes personalized service and community focus as core values.

It is federally insured by the National Credit Union Administration (NCUA). However, there are some factors to consider. Borrowers should be aware of its membership fee of $1 and the limited detailed information about loan options available on its website, making it crucial to directly contact the institution for more personalized details.

Laurel Road is the best online lender for personal loans in Montgomery, California. With a MoneyGeek score of 94 out of 100, its offerings are compelling for those seeking financial solutions. It provides personal loans ranging from $5,000 to $45,000 with repayment terms of 36 to 60 months.

Details worth considering when choosing Laurel Road include the benefit of a 0.25% discount on autopay and the absence of origination fees, which can reduce the overall cost of the loan. However, potential borrowers should be aware that it has a high minimum loan amount, which might not be suitable for those looking for a small infusion of funds. Additionally, the lender imposes a late fee of 5% or $28, which is something to be mindful of when managing loan repayments.

Fedmont Federal Credit Union earns the runner-up spot for the best personal loans in Montgomery, Alabama, with a MoneyGeek score of 95 out of 100. Founded in 1960 by eight original members from the old Federal Courthouse, it is federally insured by the National Credit Union Administration (NCUA). Borrowers will find its APR as low as 8% attractive and appreciate the option for payroll deduction of loan payments, which can simplify managing finances.

However, potential borrowers should consider that the minimum loan amount is $2,500, which might be higher than needed for some, and there is limited information about their loan options available on its website.

Guardian Credit Union stands as a strong choice for personal loans in Montgomery, Alabama, with a MoneyGeek score of 95 out of 100. Guardian Credit Union was established in 1958 and is federally insured by the National Credit Union Administration (NCUA). It offers a 0.25% autopay discount, making it cost-effective for borrowers who opt-in. With APR rates starting as low as 9%, it competes well in the market for those looking to minimize interest payments.

However, borrowers should note its $25 stop payment fee, which could add up if not managed carefully. Additionally, it imposes a $25 skip-a-payment fee, which might be a consideration for those needing financial flexibility.

Alabama State Employees Credit Union stands out as a solid option for personal loans in Montgomery, Alabama, boasting a MoneyGeek score of 90 out of 100. ASE Credit Union, established in 1954 as the Alabama State Employees' Credit Union, is federally insured by the National Credit Union Administration (NCUA). It offers three convenient locations in Montgomery and provides overdraft protection, making it a practical choice for local borrowers.

However, potential customers should note that there's no option to prequalify and limited information about loan options on its website. Furthermore, the eligibility requirements for loans are not disclosed, which might be a consideration for some borrowers.