Best Personal Loans in Baton Rouge, LA

Baton Rouge Telco Federal Credit Union is the best personal loan lender in Baton Rouge, Louisiana, with a MoneyGeek score of 97 out of 100. It is federally insured by the NCUA, which provides additional security for borrowers. It also has an A+ rating from the Better Business Bureau, signaling strong customer satisfaction and trust. However, membership is required to apply, which might limit accessibility for some borrowers. Another con is that it doesn't offer prequalification, which means you can't gauge your likelihood of approval without submitting a full application.

Laurel Road is the best online lender for personal loans in Baton Rouge, Louisiana, with a MoneyGeek score of 93 out of 100. It offers a wide loan amount range from $5,000 to $45,000 and flexible repayment terms ranging from 36 to 60 months. Furthermore, Laurel Road's application process is straightforward, with potential funding within seven days of approval. Alongside its strengths like a 0.25% autopay discount and no origination fees, which lower the overall cost of the loan, the lender also provides the flexibility to change payment due dates, increasing convenience for borrowers. However, borrowers should be aware of the high minimum loan amount, which may not be suitable for those seeking smaller loans, as well as a potential late fee of 5% or $28 that could add to the loan's cost if a payment is missed.

Essential Federal Credit Union ranks as the runner-up for the best personal loans in Baton Rouge, Louisiana, receiving a MoneyGeek score of 92 out of 100. It is federally insured by the NCUA, offering a high level of security for your funds. Another pro is its strong reputation, backed by a BBB rating of A+. However, borrowers should note that membership is needed to apply for a loan, which can limit accessibility. Additionally, it charges a late fee of $25 or 5% of the past due amount, adding extra costs if you miss a payment.

Baton Rouge City Parish Employees' Federal Credit Union offers a strong choice for personal loans in Baton Rouge, Louisiana, with a MoneyGeek score of 92 out of 100. Borrowers can benefit from its federal insurance by the NCUA, ensuring a secure lending experience, and its A+ BBB rating, reflecting its reliability and trustworthiness. On the other hand, those looking to borrow might find its requirement for membership to apply a bit restrictive, and the $20,000 borrowing limit may not suffice for larger financial needs. Despite these considerations, its high score indicates a dependable option for those seeking personal loans.

In Baton Rouge, LES Federal Credit Union is another good choice for personal loans, earning a MoneyGeek score of 92 out of 100. As a lender, LES Federal Credit Union is federally insured by the NCUA, ensuring that deposits are protected. Additionally, it has a BBB rating of A+, which reflects its commitment to customer service and trust. However, borrowers should note that membership is needed to apply, which might deter some potential applicants. It also does not offer prequalification, limiting the ability to see potential rates and terms without a hard credit check.