Best Personal Loans in Tampa, FL

Suncoast Credit Union is the best personal loan lender in Tampa, Florida, with a MoneyGeek score of 99 out of 100. It excels in customer service, competitive interest rates and flexible repayment terms. Laurel Road is the best lender for online personal loans, with a MoneyGeek score of 93 out of 100. It is known for its strong customer service, quick application and approval process and transparency in loan terms and 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 compiled our top picks for the best personal loans in Florida page.

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 August 2024. Here we considered banks and credit unions with brick and mortar locations in Tampa, Florida. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Tampa, FL

Company logo for Suncoast Credit Union
Suncoast Credit Union

MoneyGeek Score99
APR RangeFrom 11%
Loan Amount RangeUp to $50,000
Repayment TermsUp to 96 months
Time to Receive FundsUndisclosed
Overview

Suncoast Credit Union is the best personal loan lender in Tampa, Florida, with a MoneyGeek score of 99 out of 100. Borrowers will appreciate its no application fee and no prepayment penalty, making the loan process straightforward and cost-effective. On the other hand, its borrowing limit is $50,000, which might be restrictive for some. There is also no option to prequalify, which could make the initial application process less flexible.

Best Online Personal Loan in Tampa, FL

Company logo for Laurel Road
Laurel Road

MoneyGeek Score93
APR Range9.49% to 24.50%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive FundsWithin 7 Days
Overview

Laurel Road is the best online lender for personal loans in Tampa, Florida, with a MoneyGeek score of 93 out of 100. The lender offers personal loans ranging from $5,000 to $45,000 with repayment terms of 36 to 60 months, making it a flexible option to fit various borrowing needs. It provides a 0.25% autopay discount, which reduces the loan cost for those who set up automatic payments. It does not charge origination fees, which can save borrowers a significant amount upfront. However, the lender requires a high minimum loan amount, which might not be suitable for those needing a smaller sum. Laurel Road imposes a late fee of 5% or $28, which can add to the cost of the loan for those who miss a payment.

Calculate Your Monthly Payment in Tampa, FL

According to the United States Census Bureau, the median annual household income in Tampa, Florida, in 2022 was $71,089. Whether your income is above or below the median value, your ability to afford the monthly loan payments is key. Use our personal loan calculator to estimate your monthly loan payments and the total cost of the loan by entering the loan amount, rate and terms.

For example, if you take out a $10,000 personal loan at a 10% interest rate with a three-year repayment term, your monthly payments will be $323, totaling $3,876 per year. This amount represents approximately 5% of the median annual household income in Tampa, Florida.

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Updated: Dec 6, 2024

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Runner-Up for Best Personal Loan in Tampa, FL

Company logo for Floridacentral Credit Union
Floridacentral Credit Union

MoneyGeek Score94
APR RangeFrom 10.49%
Loan Amount RangeFrom $300
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Floridacentral Credit Union is the runner-up for the best personal loans in Tampa, Florida, with a MoneyGeek score of 94 out of 100. It is federally insured by the NCUA, offering borrowers security. The minimum loan amount is low at $300, making it accessible for smaller financial needs. However, it doesn't disclose payment terms on its website, making it hard to plan finances. There's also no option to prequalify, adding to the uncertainty about approval chances.

Other Options for Personal Loans in Tampa, FL

Company logo for TRAX Credit Union
TRAX Credit Union

MoneyGeek Score93
APR RangeFrom 10.99%
Loan Amount Range$500 to $25,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

TRAX Credit Union is a suitable choice for personal loans in Tampa, Florida, with a MoneyGeek score of 93 out of 100. It has an A+ BBB rating, providing assurance of reliability and trustworthiness. It has a financial calculator that aids borrowers in planning their loans effectively. However, the borrowing limit is $25,000, which may not meet higher financing needs. The lender also does not allow for prequalification, which could make it harder to compare options without impacting your credit score.

Company logo for Tampa Bay Federal Credit Union
Tampa Bay Federal Credit Union

MoneyGeek Score90
APR RangeFrom 12%
Loan Amount RangeUp to $30,000
Repayment Terms60 months
Time to Receive FundsUndisclosed
Overview

Tampa Bay Federal Credit Union is a solid option for personal loans in Tampa, Florida, with a MoneyGeek score of 90 out of 100. It is federally insured by the NCUA, providing an added layer of security. For a fee, you can skip one payment per calendar year. No rate discounts are disclosed on its website, and the borrowing limit is $30,000.

National Lenders With Physical Locations in Tampa, FL

Borrowers in Tampa, Florida, looking for the best personal loans who also value the in-person service experience can choose from national lenders with local branches. These lenders include Wells Fargo, PNC, TD Bank, OneMain Financial and Truist, each providing various personal loan options and services to meet different financial needs.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
PNCUndisclosed$1,000 to $35,0006 to 60 months
TD Bank8.99% to 23.99%$2,000 to $50,00036 to 60 months
Truist8.74% to 17.39%Starting from $3,50024 to 60 months
Wells Fargo7.49% to 23.24%$3,000 to $100,00012 to 84 months

What to Do if You Can't Get a Personal Loan in Tampa, FL

Your loan application in Tampa, Florida, can get denied due to various reasons, like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, there are some steps you can take to navigate this setback.

  1. 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. Review these reasons to improve your weak areas and prevent another loan application denial in the future.

  2. 2
    Modify your loan terms

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

  3. 3
    Look for another lender

    Different lenders have varying eligibility criteria for personal loan approval. Shopping around and considering factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service will help you find the best lender for your particular needs and circumstances.

  4. 4
    Explore credit counseling services

    Lenders often look at your debt-to-income ratio when evaluating your loan application. You may consider a credit counseling agency to manage your credit card debt better and develop your budget. You can search for credit counseling services from the Florida Office of Financial Regulation's list of credit counselors. The Department of Justice's list of approved credit counseling agencies is another resource to check.

FAQ About Personal Loans in Tampa, FL

We addressed frequently asked questions about the best personal loans in Tampa, Florida, to offer valuable insight and assist you in making informed decisions.

Who is the best overall personal loan lender in Tampa, Florida?

What are personal loans used for in Tampa, Florida?

What are the interest rates on personal loans in Tampa, Florida?

What are the benefits and drawbacks of personal loans?

What are some personal loan red flags to look out for?

How to apply for a personal loan online?

Can I get a personal loan with bad credit in Tampa, Florida?

What are the best low-interest personal loans in Tampa, Florida?

What is an installment loan? Is there a difference between personal loans and installment loans in Tampa, Florida?

Is there a difference between credit union loans and bank loans in Tampa, Florida?

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.