MoneyGeek's Picks for Best Personal Loan Lenders in Des Moines, IA

MoneyGeek evaluated more than 30 data points to determine the best personal loan lenders in Des Moines. We analyzed APR ranges, minimum credit scores, repayment terms, late fees, disbursement times, loan amounts and Better Business Bureau (BBB) ratings.

In Des Moines, the best personal loan lender is LightStream. However, the ideal lender depends on your specific needs. For instance, Upgrade is an excellent option for individuals with bad credit, whereas Payoff is suitable for those looking to renovate their home.

Best Overall Personal Loan Lender in Des Moines: LightStream

  • LightStream

    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds


Best Personal Loan Lender for Bad Credit in Des Moines: 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 Receive Funds


Best Personal Loan Lender for Good Credit in Des Moines: 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 Receive Funds


Best Personal Loan Lender for Debt Consolidation in Des Moines: 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 Receive Funds


Best Personal Loan Lender for Home Improvement in Des Moines: Payoff

  • Payoff

    • 5.99% to 24.99%APR Range
    • 550Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds


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

Personal loans can assist you by funding large costs, such as medical emergencies, funerals, debt consolidation and weddings. Always assess your financial situation before you apply for a personal loan in Des Moines. In Iowa, the average personal loan debt is $15,314, and the average resident has a credit score of 707.

MoneyGeek suggests steps to help you through your personal loan journey.


Ask Yourself the Important Questions

Consider your financial needs and goals to make an informed decision. Once you answer the following questions, finding a lender that suits your specific needs and preferences will be much easier.

  • How much funding do I need? Determine exactly how much you need ahead of time.
  • What is my credit score? Different lenders have different minimum credit requirements, so check if you’re eligible before you apply for a personal loan.
  • Can I afford the monthly payment? Ensure a personal loan fits in your budget since personal loans are usually paid in monthly installments.
  • How much debt do I already have? Some lenders have a debt-to-income (DTI) ratio limit that borrowers can’t exceed. You want to avoid increasing your DTI by taking out a personal loan.

Do Your Research

MoneyGeek encourages potential borrowers to shop around and compare each lender’s rates and terms. Applying for a personal loan is a commitment. Some lenders conduct hard credit checks, which can negatively impact your credit score. Additionally, the average repayment term is two to four years, so keeping up with the monthly payments is important.

For your convenience, MoneyGeek compiled key details so you can select the best personal loan in Des Moines for your needs. Each lender has its advantages, disadvantages and requirements. Although MoneyGeek recommends certain lenders, we encourage you to explore all your options.



Once you’ve narrowed your options, wait a day or two. Give yourself time to make an objective decision. A personal loan is a long-term commitment, so you need to feel confident that it’s the best financial decision for you. If you have alternative ways to meet your financial needs, you may want to reconsider taking out a personal loan.


Read the Fine Print

Sometimes borrowers miss small yet important details in the fine print of their personal loan. MoneyGeek strongly suggests you thoroughly read the terms of your personal loan to catch significant bits of information, such as origination fees, late fees, prepayment penalties and other possible charges. This can help inform your monthly budget and prevent added stress.

If any terms or phrases in the fine print are unclear, contact a representative from your lender or consult a financial expert. Understanding your personal loan terms can help you anticipate potential expenses and manage your expectations.



Once you’ve followed the steps above and meet the eligibility requirements of your desired lender, you’re ready to submit your application. Lenders typically ask for your identification, address verification and proof of income. However, you may need to supplement your application with other pertinent papers.

It’s relatively easy to apply for a personal loan in Des Moines, whether online, by visiting the lender or over the phone. You can decide which way to apply, if available, is the most convenient and comfortable for you.

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

If the lender denies your personal loan application, don’t fret. Lenders reject applications for many reasons, including insufficient income, a low credit score or other factors. MoneyGeek recommends reaching out to your lender and asking why your application was rejected. It’s usually possible to negotiate terms and adjust your application. You can try to shorten the loan term or decrease your loan amount.

However, if your personal loan application is still rejected, consider applying with another lender. We suggest taking this step after you’ve improved the factor that caused your initial application to be denied.

Sometimes, borrowers take out payday loans. However, we strongly discourage you from getting one. Payday loans have extremely high interest rates and short repayment terms. You might end up owing more in the long run.

Frequently Asked Questions About Personal Loans in Des Moines

The topic of personal loans can be complex. MoneyGeek answered frequently asked questions to help you find the best personal loan in Des Moines for your financial needs and goals.

Our Personal Loan Methodology


MoneyGeek evaluated 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 we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, minimum credit score, minimum income amount, available loan amount, application fees and disbursement time.

MoneyGeek values 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, we determine our picks with your best interests in mind. We gather personal loan recommendations and expert tips to help you make the best decision when choosing a lender that meets your unique needs.


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.