Best Personal Loans in Fort Lauderdale, FL: Top Lenders & Best Picks for You

Updated: September 18, 2024

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Fort Lauderdale, FL

When you require additional finances, a personal loan may be a prudent choice. MoneyGeek analyzed more than 30 personal loan lenders in Fort Lauderdale. We considered a wide range of factors, including loan limits, repayment terms, credit score requirements and interest rates, to assist you in selecting the best option.

Remember that a number of factors, including your credit score, income and employment status, might influence the likelihood that you get approved for a personal loan. Additionally, MoneyGeek examined a few customer-friendly features provided by these lenders to make managing transactions simpler for you, such as user-friendly loan application procedures and mobile applications.

Best Overall Personal Loan Lender in Fort Lauderdale: 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

    In 2019, a merger between BB&T and SunTrust Banks resulted in the inception of Truist. Overall, MoneyGeek ranked Truist as the best personal loan lender in Fort Lauderdale. Truist offers customers a wide range of lending options, although its personal loans are limited to amounts between $3,500 and $50,000.

    Truist offers some of the lowest interest rates in Fort Lauderdale. The lender does not set a minimum credit score requirement for applicants. The repayment period can range from six to 60 months.

    There are no origination fees, prepayment penalties or late fees charged by Truist. However, you cannot use your loan to pay off existing debt, finance postsecondary education, buy stocks or bonds or pay for business expenses.

    Pros

    • No credit score requirement
    • No origination, late or prepayment fees
    • 0.5% autopay discount
    • Low interest rates

    Cons

    • Hard credit inquiry
    • No co-signers allowed
    • No direct payment for debt consolidation
    • Limited usage of funds
    • Limited loan amount options
    Truist

Best Personal Loan Lender for Bad Credit in Fort Lauderdale: 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

    Upstart offers the best personal loans in Fort Lauderdale for individuals with poor credit. It is an AI-powered platform for loans that considers more than just an applicant’s credit history. You may be eligible for an Upstart loan even if you have bad or incomplete credit, depending on your individual situation.

    Upstart takes into account various factors during the application process, such as your employment and income, while many lenders place a much heavier focus on creditworthiness. With Upstart, submitting an online loan application is a straightforward process. In addition, it is the ideal choice if you need a personal loan within one to two days.

    If you have bad credit, you might pay a high rate for an Upstart loan.

    Pros

    • Minimum credit score requirement of 300
    • Soft credit check
    • Quick loan disbursement
    • Charges no prepayment fee
    • Low minimum APR

    Cons

    • No autopay discount
    • 45% debt-to-income limit
    • Charges origination fees
    • Only two repayment term options
    • High maximum APR
    Upstart

Best Personal Loan Lender for Good Credit in Fort Lauderdale: 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

    MoneyGeek's top pick for the best personal loan in Fort Lauderdale for individuals with good credit is the 2011 startup SoFi. While it offers multiple benefits, SoFi is a reliable option for individuals with good to exceptional credit looking for personal loans. You can obtain an unsecured loan of up to $100,000 with flexible repayment terms through a SoFi personal loan.

    SoFi provides its customers with extended payment terms. A basic check of your credit history will be performed by the lender to determine your rates, but it won't have any bearing on your credit ratings. Additionally, SoFi offers customers unemployment protection, a benefit that pauses or decreases loan payments if the borrower unexpectedly loses their job.

    However, we will note that SoFi’s minimum APR is not impressive, although its maximum APR is quite reasonable.

    Pros

    • Soft credit check
    • No late fees
    • Maximum loan amount of $100,000
    • Provides autopayment discount
    • Low maximum APR

    Cons

    • High minimum credit score requirement
    • High minimum APR
    • $5,000 minimum loan
    • Has employment requirement
    SoFi

Best Personal Loan Lender for Debt Consolidation in Fort Lauderdale: 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

    Upgrade is MoneyGeek's top recommendation for the best personal loan in Fort Lauderdale for debt consolidation. It is a 2017-founded fintech company that offers checking accounts, credit cards and personal loans. The company accepts applicants with a minimum credit score of 560 and has no minimum income requirement.

    Upgrade offers loans of up to $50,000 with flexible payback terms. Individuals who choose to prepay their loans are not subject to penalties from Upgrade. Moreover, the lender provides a 1% reduction if you enroll in autopay. However, be aware that Upgrade personal loans include late payment and origination fees.

    While Upgrade’s minimum APR is quite competitive, the high maximum rate could scare off some borrowers with less-than-ideal credit. That said, we appreciate how Upgrade pays creditors directly for debt consolidation.

    Pros

    • Many repayment term options
    • Low minimum APR
    • Discount for autopay
    • $1,000 minimum loan
    • Charges no prepayment fee

    Cons

    • Maximum APR
    • Charges origination and late payment fees
    • Limited fund usage
    • $50,000 maximum loan
    Upgrade

Best Personal Loan Lender for Home Improvement in Fort Lauderdale: 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

    Borrowers can acquire loans ranging from $2,000 to $50,000 from Best Egg, which offers the best personal loan in Fort Lauderdale for home improvement. The APRs and loan amounts are contingent on factors such as income and creditworthiness.

    A minimum credit score of 700 and a yearly income of $50,000 are required for approval of a Best Egg personal loan. Best Egg will perform a soft credit check when you check your rates, which will not affect your credit score. Some Best Egg personal loan borrowers receive their funds within a day.

    Keep in mind that Best Egg has limited repayment terms and relatively small loans, so it may not be an option if you need funds for a significant home improvement project.

    Pros

    • Soft credit check
    • No prepayment penalty
    • Provides 0.5% autopay discount
    • Website discloses customer rates

    Cons

    • High maximum APR
    • Low loan amounts
    • High minimum credit score
    • Income requirement
    • Charges origination and late fees
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Fort Lauderdale for You

The average amount due on personal loans in Florida is $10,400. Before you apply for a personal loan in Fort Lauderdale, you should carefully analyze all of your options while paying attention to loan amounts, payback terms, interest rates and any additional charges.

When applying for a loan, MoneyGeek recommends considering the following points:

1
Ask Yourself the Important Questions

Before applying for loans, it is essential to assess your funding requirements and current financial position. It is also necessary to evaluate your current debt load and your ability to qualify for a new loan.

To choose the best personal loan in Fort Lauderdale, you should consider the following questions:

  • How much funding do I need?
  • What is my credit score?
  • Can I afford the monthly payment?
  • How much debt do I already have?
2
Do Your Research

After evaluating your objectives and the amount of money you will need to achieve them, you can start exploring lenders that provide personal loans to borrowers like you. MoneyGeek's resources can be useful, but we advise you to also conduct your own research since our recommendations may not meet your specific requirements.

3
Wait

Take some time to think about the various choices you have before making a decision. Taking out a personal loan is a significant investment that you’ll pay back over several years. MoneyGeek recommends waiting a few days before applying for a loan. During this period, you might want to explore alternative sources of funding or conduct further research about the lender's customer service.

4
Read the Fine Print

After choosing a lender, read the fine print to determine the lender's rates and any additional fees that may apply. Before agreeing to the terms of a contract, it is critical to thoroughly read and understand the entire document. You can prevent spending too much in the long run if you fully comprehend each potential fee and rate before applying.

5
Apply

You are probably well prepared to submit an application for a loan at this point. The lender is going to do some research on you, including looking into your employment record and your current and past financial commitments. Even though completing your application online is generally more convenient than submitting it in person, you can still apply in person with some lenders if you have any questions or concerns.

What to Do if You Can’t Get a Personal Loan in Fort Lauderdale

An application for a personal loan in Fort Lauderdale may be denied if you do not fulfill the minimum requirements, such as a minimum credit score or annual income level. If you want to figure out what to do next, your first step should be to get in touch with the lender and find out why your loan application was turned down.

If you immediately approach the lender, you may be able to address the issue and re-apply for a loan once you learn what went wrong. Remember that if the lender rejects your initial application, you can apply again after resolving the problems that were raised.

If you want to be eligible for a loan in the future, you might need to work on improving your creditworthiness first. Moreover, your likelihood of approval may improve if you choose to borrow less money or pay it back faster.

If you are turned down for a personal loan, MoneyGeek recommends that you should steer clear of the temptation to take out payday loans. They typically come with excessive interest rates and offer few options for repayment, which can easily drive you further into debt.

Frequently Asked Questions About Personal Loans in Fort Lauderdale

To choose the best personal loan in Fort Lauderdale, Florida, you must evaluate your requirements, current financial position and financial objectives. MoneyGeek has provided answers to the following frequently asked questions to assist you in selecting a lender that may provide you with a loan that fulfills your requirements.

What is the best personal loan lender in Fort Lauderdale?

Although Truist offers the best personal loans in Fort Lauderdale, you may find a better fit with another lender. For example, Upstart is the best option for individuals with poor credit, while SoFi is the best option for individuals with good credit.

Which lender in Fort Lauderdale has the lowest interest rate?

Truist offers the lowest rates for personal loans in Fort Lauderdale.

Can I use a personal loan for vacations in Fort Lauderdale?

You can usually use a personal loan in Fort Lauderdale to pay for your vacation. However, before you apply for a personal loan, you should find out if the lender you are interested in prohibits using the money for travel.

Can I use a personal loan for home improvement in Fort Lauderdale?

One of the most common reasons for obtaining a personal loan is to finance home improvements. For this objective, Best Egg is the best lender for personal loans in Fort Lauderdale.

What can I not use my personal loan for in Fort Lauderdale?

The decision on this matter will ultimately be made by the lender. For instance, some companies prohibit the use of personal loans to finance activities such as gambling, investing, business expenses or postsecondary tuition costs.

How much can I borrow in Fort Lauderdale?

The amount that you are permitted to borrow with a personal loan in Fort Lauderdale is established by the lender. Normally, the loan amount range is between $1,000 and $100,000.

How long does it take to get a personal loan in Fort Lauderdale?

When it comes to funding loans, different lenders have varying processes. While some lenders may provide you with funds the same day you’re approved, others may require a few days.

Can I pay off my loan early in Fort Lauderdale?

You have the option to make early payments on your personal loan. However, your chosen lender may charge a prepayment fee.

Our Personal Loan Methodology

MoneyGeek determined the best personal loans in Fort Lauderdale by comparing more than 30 personal loan companies with at least 35 data points across six essential areas: loan availability, lender transparency, loan affordability, customer support, user friendliness and lender flexibility.

We evaluated a selection of distinct data points under each rating category that we consider to be the most essential when selecting a personal loan company, such as the maximum loan amount, minimum income and credit score requirements, APR ranges, loan disbursement times and application charges.

MoneyGeek highly values customers like you, so we examined each lender's track record for customer experience and any additional features they offer — such as mobile apps, pre-approval and automatic payment services — that could streamline the entire process and enhance your overall experience.

The final recommendations made by MoneyGeek are the ones we believe are best suited for your financial requirements. When picking a personal loan lender, you can utilize our suggestions and professional guidance to make prudent financial decisions.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

sources
Shield Insurance

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.

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