Best Personal Loans in Augusta, GA: Top Lenders & Best Picks for You

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Edited byMorgan Hull

Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Augusta, GA

MoneyGeek evaluated over 30 personal loan lenders in Augusta for 35 distinct data points, including APR ranges, minimum credit score and income requirements, loan amounts, disbursement times, repayment terms and other lender-specific factors.

Based on our review, MoneyGeek chose Truist as the best overall personal loan lender in Augusta. While Truist offers the best personal loans in Augusta for most lenders, the best personal loan provider for you may vary. For instance, Upstart is the best for those with good credit, while SoFi is the best lender for borrowers with bad credit. Those seeking a personal loan to consolidate debt or fund home improvements should consider Upgrade or Best Egg, respectively.

Best Overall Personal Loan Lender in Augusta: Truist

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Best Personal Loan Lender for Bad Credit in Augusta: Upstart

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Best Personal Loan Lender for Good Credit in Augusta: SoFi

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Best Personal Loan Lender for Debt Consolidation in Augusta: Upgrade

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Best Personal Loan Lender for Home Improvement in Augusta: Best Egg

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

When it comes to taking out a loan, having the means to pay it back is one of the most important considerations. Borrowers looking for personal loans in Augusta must examine their credit score, existing debt and current income level. Some lenders may place more weight on some of these factors than others when assessing your loan eligibility.

To determine if a personal loan is the right decision for you and to find the best lender, MoneyGeek recommends taking the following steps:

1

Ask Yourself the Important Questions

Prior to taking out a personal loan in Augusta, it’s important that you’re financially able to repay it. We suggest asking yourself the following questions to decide if a personal loan is right for you:

  • How much funding do I need? It’s important to only take out the loan amount that you need to avoid paying too much in interest or taking out a second loan. This will also help you narrow down your lender options, as all lenders offer different loan amounts.
  • What is my credit score? Your credit score will impact your loan eligibility and the rates available to you. Because those with a high credit score will receive the lowest interest rates, consider improving your credit score first before you apply for a personal loan.
  • Can I afford the monthly payment? It’s essential to make sure you’re financially able to make your monthly payment. Choosing a high monthly payment will reduce the amount you’ll pay in interest, but you may have to cut down on other living expenses to stay within your budget. Select a payment amount that allows you to repay your loan in a timely manner without depriving yourself in the present.
  • How much debt do I already have? Existing debt may interfere with your ability to get a personal loan. Consider repaying any current debt before taking on more.
2

Do Your Research

After you’ve determined your requirements and preferences, it's time to begin reviewing lenders. Compare lenders for their terms, rates, eligibility requirements and more to find the one that best suits your needs.

3

Wait

Once you’ve selected a lender, it’s important to wait a few days before applying. During this time, you can look into possible alternatives and vet other lenders. You may conclude that a personal loan is the best decision for you, or decide that forgoing it is best for your financial situation.

4

Read the Fine Print

It can be easy to skim through the details included in the fine print of your loan agreement. However, doing this could cost you time and money. That’s because the fine print may disclose hidden fees, like those for loan origination, prepayment and late payment. It’s important to be aware of these fees before you take out a loan to avoid unplanned expenses later on. If you have any questions, you can reach out to your lender for guidance.

5

Apply

Once you understand all the terms of your loan agreement, you can apply with your chosen lender. You should prepare any documentation required by the lender, such as proof of identification, employment or residence. Some lenders only accept online applications, while others require that you apply in person or over the phone.

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

If your loan application is denied, you should ask the lender why your personal loan in Augusta was rejected. It’s possible you may still be able to get approved by making modifications to your application, like reducing the loan amount or changing your repayment terms.

An application being rejected due to a low credit score is a different story. If this happens, you could apply for a loan with a lender that has a lower credit score requirement. However, you run the risk of your application being rejected again and lowering your credit score further. This is because lenders complete a hard credit check when you submit an application.

MoneyGeek strongly advises against taking out a payday loan. These loans feature high interest rates and short repayment terms that can cost borrowers more money in the long run.

Frequently Asked Questions About Personal Loans in Augusta

There are many factors to think about when looking for the best personal loans in Augusta. MoneyGeek answered the most frequently asked questions to help simplify the process.

Truist is the best personal loan lender in Augusta. Additionally, MoneyGeek determined that SoFi is best for those with good credit, while Upgrade is best for people with bad credit. Those looking to consolidate debt should choose Upstart, while Best Egg is ideal for those seeking a personal loan for home improvements.

Upstart offers the lowest rates in Augusta for personal loans. However, only those with the highest credit scores are eligible for this rate.

A personal loan can be used to cover travel and recreation expenses. However, before applying for a personal loan, you should determine whether your lender has any restrictions on the usage of funds.

Your personal loan can be used for home improvements. For this purpose, Best Egg is the best personal loan lender in Augusta.

In general, lenders forbid borrowers from using the funds for gambling, stock trading, business operations and others. Some may not allow funds to be used for education.

The lender determines how much you are entitled to borrow with a personal loan. Typically, the range for loan amounts is between $1,000 and $100,000.

When it comes to loan funding, some lenders may offer you funds within a day, while others may take up to a week.

You have the opportunity to make prepayments on your personal loan in Augusta. However, the lender you choose may charge a prepayment fee.

Our Personal Loan Methodology

MoneyGeek analyzed over 30 personal loan companies for 35 data points in six essential categories: availability, user friendliness, customer care, flexibility, lender transparency and loan affordability.

In each ranking criteria category, numerous unique factors were considered. We focused on APR ranges, loan amounts, eligibility requirements, application costs and disbursement time.

MoneyGeek puts you, the consumer, first. In addition to customer service and business evaluations, we also considered unique features and benefits that improve the consumer’s experience. This assessment included details on accessibility, prequalification, payment options and mobile applications.

We selected our top options with your best interests in mind. These personal loan recommendations and professional advice will help you select the most appropriate lender for your requirements.

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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.