Best Personal Loans in Idaho for 2024

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Reviewed byAlvin Yam, CFP
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Reviewed byAlvin Yam, CFP
Edited byRae Osborn
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Updated: April 26, 2024

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According to MoneyGeek, Idaho's top personal loan lenders are First Tech, with a score of 98 and PenFed, scoring 96. These lenders earned their spots for outstanding customer service, competitive interest rates, and loan flexibility. When searching for personal loans, it's vital to know your credit score, stable income, and how much debt you have compared to your income.

In Idaho, the average credit score is 729, as per Experian data from 2023, which could mean the average borrower might get favorable loan terms since this score is considered good. When choosing the best, MoneyGeek considered factors like lender reputation, APR ranges, minimum credit requirements and loan term flexibility.

MoneyGeek Logo IconBest Personal Loan LendersIdaho

Best Personal Loan Lenders in Idaho

MoneyGeek's personal loans scoring system is designed to give a comprehensive overview of each lender’s performance in key areas that matter to borrowers. 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 analysis was completed in April 2024 and considers banks and lenders who are licensed to do business in Idaho. We also consider financial companies that partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Personal Loan Lender in Idaho

  • First Tech

    • 98MoneyGeek Score
    • 8.94% to 18.00%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 6 to 84 monthsRepayment Terms

    MoneyGeek’s top personal loan lender in Idaho is First Tech, with a MoneyGeek score of 98 out of 100. Its APR range of 8.94% to 18.00% outperforms many competitors, indicating strongly competitive interest rates. The lender's vast experience and upfront approach also stand out, ensuring customers are well-informed and confident in their choices. With the best customer service and interest rates scores, First Tech offers comprehensive support and attractive financial conditions, with generous repayment terms spanning 6 to 84 months.


    • Insured by the National Credit Union Administration (NCUA)
    • Doesn't charge an application or loan origination fee
    • Provides granular APR data for a variety of loan terms


    • Need to be a member to apply
    • Little published information about credit score requirements
    • Could provide more detail on the loan application process
    First Tech

    Runner-Up for Best Personal Loan Lender in Idaho

  • PenFed

    • 96MoneyGeek Score
    • 7.99% to 17.99%APR Range
    • UndisclosedMinimum Credit Score
    • Up to $50,000Loan Amount Range
    • Up to 60 monthsRepayment Terms

    PenFed Credit Union is MoneyGeek's runner up for best personal loan lender in Idaho, with a MoneyGeek Score of 96 out of 100. PenFed offers an APR range from 7.99% to 17.99%, which is competitive with lower bounds that are notably advantageous. The lender stands out for exceptional repayment flexibility, allowing loans for up to 60 months and scoring highly in customer service and education. These strengths indicate that PenFed is dedicated to supporting its borrowers with ample information and a range of options.


    • Offers some of the lowest APRs available
    • No early repayment penalty
    • No origination fee


    • No information provided about credit score requirements
    • $50 minimum monthly loan payment
    • No origination fee listed
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The amount of monthly debt payments you have relative to your monthly gross income is called your debt-to-income ratio, or DTI.

Most lenders prefer to see a debt-to-income ratio of 35% to 40% or below for secured loans and 40% to 45% or below for unsecured personal loans. Debt includes items like mortgages, car loans, credit cards and existing personal loans. A debt-to-income ratio above 50% is considered high so approval may be more difficult, or your loan may come with higher interest rates. — Alvin Yam, CFP®

Calculate Your Monthly Loan Payment

According to our analysis, lenders in Idaho offer personal loan products averaging about 57 months. Explore your loan options with our personal loan calculator, a simple tool to calculate monthly payments and total loan costs based on amount, interest rate and term length, helping you make informed decisions before committing.


    Best Personal Loan Lender in Idaho for Bad Credit

  • Happy Money

    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan provider in Idaho for low credit borrowers, with a MoneyGeek score of 94 out of 100. It is not a traditional lender but connects borrowers with partners offering competitive rates. Its APR range of 11.72% to 17.99% positions it favorably against the market average, catering to those with credit scores starting at 640. Its strong points lie in customer education and support and in making clear the entirety of its lending process and terms — transparency that users can heavily rely on.


    • Works with 10 federally insured lenders to originate all loans
    • Transparent eligibility requirements, including credit score minimum
    • No application fee


    • The lenders they work with charge an origination fee
    • Longer time to wait for loan approval compared to other lenders analyzed
    Happy Money

How does MoneyGeek score lenders for bad credit loans?

    Best Personal Loan Lender in Idaho for Debt Consolidation

  • Alliant Credit Union

    • 96MoneyGeek Score
    • 10.99% to 13.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    MoneyGeek's pick for the best personal loan provider for debt consolidation in Idaho is Alliant Credit Union, with a 96 out of 100 score. Alliant requires prospective borrowers to be members for 90 days to be eligible for personal loans. This credit union stands out for low-interest rates compared to competitors (10.99% to 13.99% APR range) and upfront disclosure of terms and fees. Moreover, Alliant excels in the application and approval process, as well as maintaining a strong reputation for transparency.


    • Among the highest loan limits available in our analysis
    • Insured by the National Credit Union Administration (NCUA)
    • No prepayment penalties


    • An online-only credit union, no physical branches
    • Have to be a member for 90 days to apply
    Alliant Credit Union

How does MoneyGeek score lenders for debt consolidation?

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Interest on personal loans is generally not tax deductible as personal loans are considered consumer debt. But there are some exceptions where the interest may qualify:

  • When consolidating high-interest qualifying debts like credit cards or student loans, if used to pay off those debts.
  • If used for home improvements that increase the home's value.
  • If the loan proceeds can be demonstrated as used exclusively for business expenses or starting a business.
  • In some cases, if the loan is used for investment purposes related to income-generating assets.

Alvin Yam, CFP®

Impact of Credit Score on Loan Repayment in Idaho

When shopping for a personal loan in Idaho, consider your credit score, credit history, income and debt-to-income ratio, as these factors heavily influence your loan terms. MoneyGeek's top picks for personal loan lenders evaluate reputation, APR ranges, minimum credit scores and loan term flexibility.

A higher credit score can lead to more favorable loan conditions, including lower APRs, so improving your credit score prior to applying may be beneficial. Consult the table below to see how different credit scores may affect your monthly loan payments.

Data filtered by:Results filtered by:
Credit Band:
Credit Band:690 to 719
Loan Amount:
Loan Amount:$2,000
$348Term Length (Months)6
$180Term Length (Months)12
$97Term Length (Months)24
$69Term Length (Months)36
$55Term Length (Months)48
$47Term Length (Months)60
$42Term Length (Months)72
$38Term Length (Months)84

This table offers an approximation of monthly payments, calculated using median personal loan interest rates typical for various credit score ranges. Please remember that these numbers are median estimates, provided for general guidance. They should not be taken as precise rates for everyone in each credit score category. Actual interest rates can differ due to lender-specific policies, prevailing market conditions and unique borrower profiles.

Pros and Cons of Personal Loans in Idaho

Personal loans can offer the advantage of lower interest rates for borrowers with solid credit and the convenience of consolidating various debts into one manageable payment. They also provide the flexibility to tackle unexpected expenses rapidly, sometimes with the option of including a co-signer for improved terms.

However, it's important to consider that, while beneficial, personal loans do come with potential downsides such as origination fees and the risk of asset loss in secured loans. For a more comprehensive understanding of what to expect, review the pros and cons of personal loans.

The good and bad of personal loans

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  • Competitive interest rates compared to credit card APRs
  • Simplification of multiple debts into one payment
  • Expedient approval and fund disbursement
  • Option to use a co-signer for improved loan conditions
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  • Increased total loan cost due to origination fees
  • Potential penalties for early loan repayment
  • Risk of asset loss with secured personal loans
  • Encouragement of excessive debt due to easy approval

FAQ About Personal Loans in Idaho

If you have questions about personal loans, MoneyGeek has answers to help you make an informed decision before applying.

Who is the best lender in Idaho for personal loans?
Where is the best place to get a personal loan in Idaho?
Who has the best personal loan interest rates in Idaho?
What can I use a personal loan for in Idaho?
What are some personal loan red flags to look out for?
Do lenders consider income level when applying for a personal loan?
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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.