Best Personal Loans in Tampa, FL

Truist was established in 2019 with the merger of BB&T Bank and SunTrust. It’s one of the largest banks in the U.S. and has over 2,700 branches in mostly eastern states, including Florida. Beyond loans, it offers various services and products like savings accounts, credit cards and investments.

Based on MoneyGeek’s analysis, Truist is the overall best personal loan company in Tampa. If you have good to excellent credit, you can borrow $3,500 to $50,000 and take up to 60 months to pay it back. Truist offers relatively low rates and doesn't have origination or prepayment fees. Truist will perform a hard credit check to determine your rates but, unlike other companies, does not pre-qualify.

Truist offers a streamlined application process on its website and approves loans in an average of 15 minutes. You can also expect your loan to be funded within the same day.

Founded in 2012, Upstart is one of the first companies to use artificial intelligence for loan evaluation. It claims to have higher approval rates compared to traditional banks, making it a good choice if you have an unimpressive credit score.

Upstart is MoneyGeek’s choice for the best personal loan lender in Tampa if you have bad credit. With a FICO score as low as 300, you can borrow up to $50,000 from this company and enjoy a 60-month repayment term.

Upstart initially conducts a soft credit pull, which won’t affect your credit rating. The application process can be completed entirely online, and once your loan becomes approved, it can be funded the next day. If you accept Upstart’s rate offer and proceed with your application, the company will do a hard credit check, impacting your credit score.

While you don’t need to worry about prepayment fees with Upstart, the company does charge origination fees. It also has high APRs compared to other lenders.

SoFi was initially founded in 2011 offering student loans. Since then, it has expanded its services to provide savings accounts, insurance, investments and loans. MoneyGeek rates SoFi as the best personal loan company in Tampa for folks with good credit scores. Notably, this lender features flexible loan options — you can get up to $100,000 with 60 months to pay it back.

SoFi offers low-interest rates and an auto-pay discount. In addition, it's a zero-fee lender, meaning it doesn’t charge origination, late payment or prepayment fees. The company only does soft credit checks during the pre-qualification process, which won’t affect your credit rating.

SoFi has stellar features, but you need a credit score of at least 680 to qualify for its loans. You can apply with a co-borrower, but the company doesn’t allow co-signers. Also, joint application approvals may take up to two weeks.

Upgrade is relatively new to the market but has already served over 1 million clients since its founding in 2017. Other than personal loans, it offers checking accounts and credit cards.

If you want a personal loan to consolidate your debt, MoneyGeek’s research shows Upgrade is your best choice in Tampa. The company offers loans up to $50,000 and has a maximum repayment term of 60 months. Additionally, it pays your creditors directly, which is convenient if you have multiple debts to settle.

To qualify for an Upgrade loan, you’ll need a FICO score of at least 560. The company will only do a soft credit pull during its initial evaluation, and your loan can get funded the same day.

While Upgrade doesn’t charge prepayment fees, it charges late payment penalties and an origination fee.

Founded in 2014, this Delaware- and California-based online lending company’s personal loans are issued through Cross River Bank and Blue Ridge Bank. Aside from unsecured personal loans, Best Egg offers secured loans and credit cards.

MoneyGeek’s analysis shows that for borrowers who want to make home improvements, Best Egg is the best personal loan company in Tampa. You can borrow up to $50,000 from this company and use it to finance a home repair or renovation project, among other things. The payment timeframe is up to 60 months, with no penalty for paying the loan early.

However, be mindful that Best Egg’s loans come with a 1% to 6% origination fee. The company also charges late payment penalties, doesn’t offer discounts for automatic payments and has APRs that go as high as 35.99%.