Best Personal Loans in Indianapolis, IN

Hoosier United Credit Union is the best personal loan lender in Indianapolis, Indiana, with a MoneyGeek score of 98 out of 100. It stands out due to its A+ BBB rating and federal insurance by the NCUA, providing borrowers with peace of mind regarding its credibility and security. Another advantage is the allowance of co-borrowers, which can make loan approval easier. However, borrowers should be aware that it does not offer the option to prequalify and has a borrowing limit of $10,000, which might be restrictive for those needing larger loan amounts. Furthermore, it requires more transparency on its website regarding loan details.

Laurel Road is the best online lender for personal loans in Indianapolis, Indiana, boasting a MoneyGeek score of 93 out of 100. Interested individuals looking for personal loans can expect to find a loan amount range from $5,000 to $45,000 with repayment terms spanning 36 to 60 months. It also offers a 0.25% rate discount for automated payments and does not charge origination fees. However, borrowers should be aware that it has a relatively high minimum loan amount, which could be an obstacle for those needing smaller sums. Additionally, it enforces a late fee of 5% or $28, which could add up for individuals facing payment challenges.

Financial Health Credit Union ranks as the runner-up for the best personal loans in Indianapolis, Indiana, with a MoneyGeek score of 96 out of 100. It offers several strong points for borrowers to consider. For example, it is federally insured by the NCUA, providing an additional layer of security. Additionally, it allows joint applications, which can be helpful for those needing a co-signer. However, there are a few downsides. The maximum loan amount caps at $10,000, which may not meet the needs of all borrowers. Also, it does not offer prequalification, making it harder to check rates without affecting your credit score.

Indiana Members Credit Union is a reliable choice for personal loans in Indianapolis, Indiana, receiving a MoneyGeek score of 92 out of 100. It's federally insured by the NCUA, which offers added security. Additionally, it boasts a BBB rating of A+, limiting some of the risks borrowers might face. However, borrowers should consider that its high starting APR of 16.24% could be expensive, and there is no option to prequalify. It offers loan amounts ranging from $500 to $10,000, making it suitable for various financial needs. Furthermore, it allows co-borrowers and co-signers, adding flexibility to their application process.

Everwise Credit Union is another good choice for personal loans in Indianapolis, Indiana, receiving a MoneyGeek score of 90 out of 100. As a borrower, consider that it is federally insured by the NCUA, and it accepts joint applications. However, keep in mind that there is no option to prequalify, and membership is needed to apply.