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Best Personal Loans in Georgia

Personal loans can help you pay for large purchases, consolidate debt or cover emergencies. Borrowers in Georgia can access personal loans at an average interest rate of 9.23%. The average personal loan in Georgia is $17,869. Lenders use factors such as your credit score, gross income and debt to income ratio to qualify you for personal loans in Georgia. The best lender for you will depend on your profile and needs.

Last Updated: 6/9/2022
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MoneyGeek’s Pick for Best Personal Loan Lender in Georgia: Truist

MoneyGeek used 30 different rating factors to find the best personal loans in Georgia for different profiles and needs. Our analysis included comparing loan limits offered by different lenders, fees, minimum requirements to qualify and interest rates.

MoneyGeek also analyzed factors such as average disbursement periods, restrictions on usage of funds and BBB ratings. We even evaluated user experience by comparing the availability of online application options, mobile apps and other convenient features.

Best Overall Personal Loan Lender in Georgia: 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 Recieve Funds

    on Truist Website

Best Personal Loan Lender for Bad Credit in Georgia: 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 Recieve Funds

    on Upstart Website

Best Personal Loan Lender for Good Credit in Georgia: 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 Recieve Funds

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Georgia: 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 Recieve Funds

    on Upgrade Website

Best Personal Loan Lender for Home Improvement in Georgia: 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 Recieve Funds

    on Best Egg Website

How to Choose the Best Personal Loan Lender in Georgia for You

The average personal loan debt in Georgia is $17,869, but lenders will evaluate how much you qualify for based on your credit score, gross income and factors such as your debt to income ratio. Before you apply for personal loans in Georgia, it is important to compare lenders. You may need a personal loan for emergency expenses, home improvement, debt consolidation or other needs and the best lender for you will ultimately depend on what your specific needs are.

To find the best lender for your profile, MoneyGeek recommends following these steps.

1

Ask Yourself the Important Questions

It’s important to make sure you really evaluate your loan needs before applying. Take the time to ask yourself the following questions:

  • How much funding do you need? The amount you need will determine a variety of factors, including the repayment period and how long it takes for your loan to be funded.
  • What is your credit score? Most lenders have set credit score requirements, so it is important to know what your credit score is beforehand to know which lenders are likely to approve you.
  • Can you afford the monthly payment? Personal loans are long-term commitments that require monthly payments. Ensure that you can afford the monthly payments before you apply for a loan since defaulting can cause you to incur high interest charges and penalties.
  • How much debt do you already have? Loan repayments will eat into your income, so it is important to make sure that your debt to income ratio is not too high before considering a personal loan.
2

Do Your Research

A personal loan will require a long-term commitment over the period of the loan and may even impact your credit score due to hard credit checks by lenders. This means it is important to do your own research on rates, fees and other charges that you will incur. Always compare rates and terms from different lenders before applying for a loan since the best lender for you will depend on your particular profile. You can also use MoneyGeek’s recommendations as a guide depending on your needs.

3

Wait

It is not uncommon to have buyer’s remorse after getting a personal loan. You can avoid this by waiting a day or two before submitting an application. Since you will be committing to monthly payments for two or more years, making sure that you are making the right decision is important. Weigh all your options and decide whether a personal loan is a good financial decision for you or if another option could be better.

4

Read the Fine Print

Always ensure that you understand all the applicable fees, rates and penalties before signing up for a personal loan. Late payment charges and other fees can build up over time, making your personal loan even more costly than you thought. Read through the fine print and ask the lender for clarification on rates and fees that are not clear. This will ensure that there are no hidden charges that you are unaware of when signing up.

5

Apply

If you are confident that you have found the right lender, apply for your personal loan. You will be required to provide identification, address and other information and documents like proof of income. Some lenders may require you to call or visit in person, while others offer an online application process. You can choose to consult the lender in person to learn more about their personal loans and get recommendations based on your profile and needs.

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

Your personal loan application may be declined in some cases due to not meeting the minimum requirements, like the credit score limit or the minimum gross income. This should not discourage you since you may still qualify for a personal loan with another lender or at a lower limit. It is important to find out the exact reason why your loan was declined since this will let you know what you need to do next.

Working to improve your creditworthiness over time will ensure that you qualify for a loan in the future. It may also help you get better interest rates.

While payday loans may seem like a good option when you have been declined, they typically attract exorbitant interest rates and offer limited repayment options. As a result, it is best to avoid them.

Frequently Asked Questions About Personal Loans in Georgia

The best personal loans in Georgia for you will depend on a variety of factors and your needs. You can learn more about finding the best lender in the answers to frequently asked questions below.

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METHODOLOGY

We reviewed more than 30 personal loan lenders using 35+ individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking criteria category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’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, credit card issuer, hotel, airline, or other entity.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings for our coverage of credit card products. MoneyGeek and CardRatings may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.