Best Personal Loans in Oakland, CA

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Updated: October 11, 2024

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Patelco Credit Union is recognized as the best personal loan lender in Oakland, California. With a MoneyGeek score of 100 out of 100, it offers customers quality service, competitive interest rates and flexible repayment terms. Laurel Road is the best lender for online personal loans, with a MoneyGeek score of 94 out of 100. It provides strong customer service, credible and transparent loan terms and a quick application and approval process.

MoneyGeek prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and speed of loan funding to gather our best city recommendations. If you're looking for national lenders, we also have our top picks for the best personal loans in California.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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Our overall analysis was completed in October 2024. Here, we considered banks and credit unions with brick-and-mortar locations in Oakland, California. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Oakland, CA

Company logo for Patelco Credit Union
Patelco Credit Union
MoneyGeek Score:
100/ of 100

APR Range9.30% to 17.90%
Loan Amount Range$300 to $100,000
Repayment Terms6 to 84 months
Time to Receive FundsUndisclosed
Overview

Patelco Credit Union is recognized as the best personal loan lender in Oakland, California, with a MoneyGeek score of 100 out of 100. It offers a wide range of APR from 9.30% to 17.90%, and loan amounts from $300 to $100,000, with repayment terms extending from 6 to 84 months. Federally insured by the National Credit Union Administration (NCUA), it has been serving members since 1936. You can borrow up to $100,000, which offers significant flexibility. Additionally, there are no origination fees, saving you money from the start. However, be aware of certain fees, such as a late fee of $5 or 3%, depending on whichever is greater, and a $20 fee for a returned loan payment, which might impact those who are budget-conscious or have irregular income.

Best Online Personal Loan in Oakland, CA

Company logo for Laurel Road
Laurel Road
MoneyGeek Score:
94/ of 100

APR Range8.99% to 24.25%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive Funds7 Business Days
Overview

Laurel Road is the best online lender for personal loans in Oakland, California, with a MoneyGeek score of 94 out of 100. It offers personal loans ranging from $5,000 to $45,000, with repayment terms of 36 to 60 months. It does not charge an origination fee and grants a 0.25% rate discount for autopay, which helps you save money. On the other hand, the minimum loan amount might be higher than some borrowers’ needs, and a late fee of 5% or $28 could be incurred if a payment is missed. It offers the flexibility to change your payment due date, which can align your loan payments with your budget. However, Laurel Road imposes a $20 fee for non-sufficient funds, which borrowers should factor into their planning.

Calculate Your Monthly Payment in Oakland, CA

According to the United States Census Bureau, the median annual household income in Oakland, California, in 2022 was $93,146. Whether your income falls above or below this figure, you should ensure you can handle the monthly loan payments comfortably. Use our personal loan calculator to input the loan amount, rate and terms to estimate your monthly payments and total loan cost.

For example, a $10,000 personal loan with a 10% interest rate and three years in repayment terms results in monthly payments of $323 or $3,876 annually. This payment represents 4% of the median annual household income, illustrating its potential impact on your finances.

Personal Loan Calculator

Estimate the monthly payment for your loan.

Updated: Oct 14, 2024

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Runner-Up for Best Personal Loan in Oakland, CA

Company logo for Sea West Coast Guard Federal Credit Union
Sea West Coast Guard Federal Credit Union
MoneyGeek Score:
93/ of 100

APR RangeFrom 9.96%
Loan Amount Range$1,000 to $30,000
Repayment Terms12 to 48 months
Time to Receive FundsUndisclosed
Overview

Sea West Coast Guard Federal Credit Union is the runner-up for personal loans in Oakland, California, with a MoneyGeek score of 93 out of 100. Federally insured by the National Credit Union Administration (NCUA), it has been serving members since 1959. Borrowers might find its offering of a 0.25% direct deposit and autopay discounts beneficial, along with an APR as low as 9.96%. However, note that no prequalification process is available, and loan eligibility requirements are not disclosed, which might be inconvenient for some applicants.

Other Options for Personal Loans in Oakland, CA

Company logo for Matson Employees Federal Credit Union
Matson Employees Federal Credit Union
MoneyGeek Score:
90/ of 100

MoneyGeek Score90
APR RangeFrom 8.19%
Loan Amount RangeUp to $15,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Matson Employees Federal Credit Union is a solid choice for personal loans in Oakland, California, with a MoneyGeek score of 90 out of 100. Established in 1938, it is federally insured by the National Credit Union Administration (NCUA). It allows co-borrowers, which can make managing the process easier. With an APR as low as 8.19%, it offers competitive rates. However, be aware there's no option to prequalify, so carefully assess your financial situation before applying. The maximum borrowing limit is $15,000, which may not suit those seeking higher amounts.

Company logo for Pacific Postal Credit Union
Pacific Postal Credit Union
MoneyGeek Score:
88/ of 100

MoneyGeek Score88
APR RangeFrom 9.75%
Loan Amount RangeUp to $15,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Pacific Postal Credit Union is another good choice for personal loans in Oakland, California, earning a MoneyGeek score of 88 out of 100. Pacific Postal Credit Union, federally insured by the National Credit Union Administration (NCUA), has been serving members since 1931. It offers an APR of as low as 9.75% and a 0.25% rate discount with an active Secure Checking or Silver Express account. However, it has a borrowing limit of $15,000, which might not cater to larger financial needs. There's also limited information about loans on its website, which could impact how informed you feel when deciding.

National Lenders With Physical Locations in Oakland, CA

Borrowers in Oakland, California, seeking the best personal loans and preferring face-to-face service can look to national lenders with local branches. Wells Fargo, U.S. Bank and OneMain Financial provide personal loan services to individuals who value visiting a branch for personalized assistance. Other national entities commonly associated with personal loans do not have a presence in this locale.

OneMain FinancialAPR Range18.00% to 35.99%Loan Amount Range$1,500 to $20,000Repayment Terms24 to 60 months
U.S. BankAPR Range8.74% to 24.99%Loan Amount Range$1,000 to $50,000Repayment Terms12 to 84 months
Wells FargoAPR Range7.49% to 24.99%Loan Amount Range$3,000 to $100,000Repayment Terms12 to 84 months

What to Do if You Can't Get a Personal Loan in Oakland, CA

In Oakland, California, your personal loan application can be denied for various reasons, like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, follow practical steps to navigate the setback.

1
Find out the reason for the denial

Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Reviewing the reasons can help you improve weak areas and prevent another loan application denial in the future.

2
Modify your loan terms

You can ask your lender if you can adjust the loan amount or repayment terms to get approved.

3
Look for another lender

Lenders differ in their personal loan eligibility criteria. To find a suitable lender, compare the minimum credit score requirements, interest rates, loan terms, additional fees and customer service.

4
Explore credit counseling services

Your debt-to-income ratio is a key factor lenders assess for loan applications. Engage with a credit counseling service to get assistance in managing your credit card debt and budget. You can get credit counseling services from the Department of Financial Protection and Innovation's published list of nonprofit credit counseling agencies or the Department of Justice's list of approved credit counseling agencies.

FAQ About Personal Loans in Oakland, CA

We addressed common questions regarding top personal loans in Oakland, California, offering insights to assist with informed decisions.

Who is the best overall personal loan lender in Oakland, CA?
What can I use a personal loan for in Oakland, CA?
What are the interest rates on personal loans in Oakland, CA?
What are the benefits and drawbacks of personal loans in Oakland, CA?
What are some personal loan red flags to look out for in Oakland, CA?
How to apply for a personal loan online?
Can I get a personal loan with bad credit in Oakland, CA?
What are the best low-interest personal loans in Oakland, CA?
What is an installment loan? Is there a difference between personal loans and installment loans in Oakland, CA?
Is there a difference between credit union loans and bank loans in Oakland, CA?

About Zachary Romeo, CBCA


Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.


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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.