Top Lenders & Best Picks for You
Best Personal Loans in Atlanta, GA
Updated: December 28, 2023
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- The Best Overall Personal Loan Lender in Atlanta
- The Best Personal Loan Lender for Bad Credit in Atlanta
- The Best Personal Loan Lender for Good Credit in Atlanta
- The Best Personal Loan Lender for Debt Consolidation in Atlanta
- The Best Personal Loan Lender for Home Improvements in Atlanta
- How to Choose the Right Personal Loan Lender for You
- Frequently Asked Questions About Personal Loans in Atlanta
MoneyGeek’s Pick for Best Lender in Atlanta, GA: Truist
In circumstances where extra cash is required, a personal loan in Atlanta may be the answer. To help you find the best one, MoneyGeek looked at more than 30 lenders, considering a range of aspects such as loan sizes, payback terms and interest rates.
MoneyGeek also recognized the convenience these lenders could offer you, such as whether they provide a customer-friendly application process, online application options and smartphone apps to help you manage your transactions. Factors that could influence your approval, such as minimum credit score, proof of income and employment verification, have also been considered.
Best Overall Personal Loan Lender in Atlanta: Truist
Best Personal Loan Lender for Bad Credit in Atlanta: Upstart
Best Personal Loan Lender for Good Credit in Atlanta: SoFi
Best Personal Loan Lender for Debt Consolidation in Atlanta: Upgrade
Best Personal Loan Lender for Home Improvement in Atlanta: Best Egg
How to Choose the Best Personal Loan Lender in Atlanta For You
Georgia has an average personal loan debt of $17,869. Before you apply for a personal loan in Atlanta, think carefully about how you'll use it and compare interest rates, loan amounts, loan periods and any fees that might be involved.
MoneyGeek's research gives you a rundown of the important things you need to think about before applying for a personal loan in Atlanta.
Ask Yourself the Important Questions
Before determining which lenders' qualification requirements you meet, you must first consider whether a personal loan is good for you. To find the best personal loan in Atlanta, you should ask yourself the following questions:
- How much cash do I need? First, determine how much money you require and find a lender that can provide this amount.
- What is my credit score? Your credit score affects whether or not you are eligible for loans and the interest rates you will pay.
- Is it realistic for me to afford the monthly payment? You'll pay late fees and your credit score will suffer if you can't make payments. Always consider the long term.
- Do I have any outstanding debts? If you're already paying off other obligations, adding another loan to your list might not be the best decision.
Do Your Research
Do your homework before applying for a personal loan in Atlanta. You can compare interest rates from different lenders to determine which offers the best deal for your needs. Some lenders place limitations on how you may use your loan, so double-check that you can use the funds for what you intended.
MoneyGeek keeps you informed and recommends the finest lenders for various situations. While your circumstance is unique, our research may be able to assist you in arriving at a well-informed decision.
Wait
You'll be dealing with paying your personal loan for 2–4 years. Take a moment to reflect after you've gathered all of the information you need. Do nothing unless you're positive you'll be able to handle all of the responsibilities that come with the loan.
Read the Fine Print
Before submitting the application, it's a good idea to read the fine print. You may suffer major financial implications if you neglect to read the fine print. Don't assume you know everything there is to know about the loan. Study it carefully to fully understand each aspect.
Apply
After you've completed these steps, you'll move on to the most important aspect of applying for a personal loan in Atlanta. You’ll need to provide some documents and information during the application process. You can also apply for your loan online, but if you prefer to call or visit the lender’s office, you can do so.
What to Do if You Can’t Get a Personal Loan in Atlanta
It can be difficult to accept being turned down for a personal loan. Personal loans in Atlanta are declined for various reasons.
MoneyGeek recommends contacting your lender to find out why you were rejected. The most common reasons for loan denial are poor credit ratings, insufficient income, excessive debt-to-income ratios and incomplete loan application information. Inquire if there is anything you can do to modify the terms of your loan to make the application acceptable, such as decreasing the payback period or lowering the loan amount.
While it usually is more beneficial to focus on improving your profile first, you might look for a loan from another company if you can't persuade the lender. However, you should steer clear of payday loans at all times. Payday loans have extremely high interest rates and quick payback periods, and they can be significantly damaging to your credit standing.
Frequently Asked Questions About Personal Loans in Atlanta
Regardless of how you intend to use a personal loan, you should always do your research to ensure that it meets your financial needs. There's a lot of data out there, and sorting through it all can be overwhelming.
As a result, MoneyGeek answers some of the most common questions about personal loans in Atlanta to help you decide which choice is best for you.
Based on MoneyGeek's assessment of several lenders in the city, Truist is the best personal loan lender in Atlanta. However, keep in mind that the best lender for you may vary based on your individual needs.
If you’re looking for the best personal loan with the lowest interest rate, Upstart offers an interest rate as low as 3.22%, depending on the borrower and the loan.
Yes, personal loans in Atlanta can be used to fund vacations. That said, MoneyGeek advises you to discuss this with your lender since some may impose limitations on how the money can be used.
Personal loans in Atlanta can be used to fund the improvements to your house. Best Egg is MoneyGeek’s top option for consumers looking to finance a home improvement project.
Depending on the bank, there may be restrictions on using your personal loan. Personal loans from some lenders cannot be used to pay for college tuition, investments, gambling or unlawful activities.
In Atlanta, the amount you can borrow varies with each lender, but it normally falls between $1,000 and $100,000.
Personal loans from banks often take up to a week to fund, depending on the lender. Banks like Truist can deliver funding on the same day, whereas SoFi can take up to a week.
You have the option of paying off your debt early. While some lenders charge a prepayment penalty if you pay off your loan early, most others do not. For further details, check the fine print of the lender's loan agreement.
Our Personal Loan 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 determined with your best interest in mind. Our personal loan recommendations and expert tips help you make the best decision when choosing a lender that meets your needs.
sources
- Best Egg. "Personal Loans." Accessed March 10, 2022.
- SoFi. "Personal Loans." Accessed March 10, 2022.
- Truist. "Personal Loans." Accessed March 10, 2022.
- Upgrade. "Personal Loans up to $50,000." Accessed March 10, 2022.
- Upstart. "5 reasons to apply for an Upstart personal loan." Accessed March 10, 2022.
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
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