Top Lenders & Best Picks for You

Best Personal Loans in Oklahoma

LightStream offers the best personal loans in Oklahoma. Aside from a high loan limit, it also provides loans at a low-interest rate with no origination fees, late fees or prepayment penalties.

Our top choices for borrowers with good and bad credit are SoFi and Upstart, respectively. Best Egg is your best option if you're getting a personal loan for home improvement, while Upgrade is our top pick for debt consolidation.

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Last Updated: 11/22/2022
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MoneyGeek’s Pick on Best Personal Loan Lender in Oklahoma: LightStream

To help you find the best personal loan in Oklahoma, MoneyGeek analyzed multiple features of loan offerings from various lending companies. We broke these factors down to round up our top picks for borrowers with good credit, those with a poor credit record, and those who intend to use their loans for debt consolidation or home improvement.

Aside from exploring what each lender has to offer, we also included the factors that may affect your chances of getting approved in this guide, such as your credit history, income, debt-to-income ratio, and more.

Best Overall Personal Loan Lender in Oklahoma: 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

    on LightStream Website

Best Personal Loan Lender for Bad Credit in Oklahoma: 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

    on Upstart Website

Best Personal Loan Lender for Good Credit in Oklahoma: 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

    on SoFi Website

Best Personal Loan Lender for Debt Consolidation in Oklahoma: 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

    on Upgrade Website

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


  • Best Egg

    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    on Best Egg Website

How To Choose The Best Personal Loan Lender In Oklahoma For You

Personal loans are a prevalent form of debt. You typically don’t need collateral to take out a loan, and many lenders have no restrictions on how you can use the money. In Oklahoma, the average personal loan debt is $15,293, with an average interest rate of 9.73%.

Before taking out a personal loan, you should evaluate a few important factors. These include how you’ll use it, what your current credit score is and if you have any current debts that might make adding another monthly payment difficult.

Use this guide to find the best personal loans in Oklahoma.

1

Ask Yourself the Important Questions

Just like any other type of loan, you may run the risk of being financially stretched if you fail to consider a few critical factors before getting a personal loan.

You should first evaluate the purpose of the loan, how much money you need and if you will be able to meet the monthly payments. This sort of early planning will save you from struggling to make timely payments, which can hurt your credit score down the line.

We suggest that, for starters, you answer the following:

  • How much funding do you need? If you need a small amount, it might be better to save up some extra cash than borrow. But if you need a large amount, check your preferred lender’s offers and requirements.
  • What is your credit score and does it meet the lenders’ minimum requirements? Most lenders will look at your credit score to check your creditworthiness. Make sure that you meet your preferred lender’s minimum requirement before applying.
  • Do you have a steady form of income, and is it enough to meet the monthly payments? Getting a personal loan requires that you can meet your monthly payments and still have enough to live on. Late payments and defaulting on your loan will only hurt your credit score.
  • What is your current debt-to-income ratio? If you are already overburdened by existing debt, you may wish to reconsider getting an additional personal loan until you’re in a better financial position.
2

Do Your Research

A personal loan requires monthly payments for two to four years, on average. This type of long-term commitment should not be taken lightly. Conduct your own research and compare rates and terms from multiple lenders before applying for a loan.

MoneyGeek’s guide has simplified the process for you, but keep in mind that our recommendations are generalizations for the average borrower. You might have unique needs and circumstances that require additional attention. It’s in your best interest to shop around and look at other options to find a perfect fit for your situation.

3

Wait

Now that you’ve done your research, it is time to wait for a day or two before finalizing your decision. Try to resist the impulse to get the loan and use it immediately. Like any other big commitment, you need to be certain that a specific personal loan with a particular lender is the right choice.

4

Read the Fine Print

Avoid surprises by taking the time to read the fine print. Lenders often have significant origination fees and others charge a penalty if you pay off your loan early. Knowing exactly what you are signing up for might save you from accumulating unexpected expenses.

5

Apply

Once you’re confident about your decision, you’re ready to apply for a personal loan. Prepare any required documents, such as your identification, proof of income and address verification. Most lenders have a convenient online application process but don’t hesitate to call or visit their office if you prefer a more personalized customer service.

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

If your application for a personal loan in Oklahoma is denied, there are a few things that you should do.

First, find out exactly why you were denied. Was it a low credit score or insufficient income? Or was it that your debt-to-income ratio is too high? You may be able to get the lender to consider a modified application, possibly by decreasing the loan amount or shortening the repayment term.

If the lender is still unable to approve your application, you might want to try applying for a loan from another lender with less stringent terms and requirements. If that approach is unsuccessful, consider improving your credit score or increasing your income before applying again.

We strongly advise you to stay away from payday loans as a quick solution. While they’re legal in Oklahoma, the maximum loan amounts are small, the interest extraordinarily high and you have to pay them back quickly.

Frequently Asked Questions About Personal Loans in Oklahoma

Looking for a personal loan in Oklahoma might be overwhelming with the many available choices. That is why MoneyGeek has simplified the process for you by providing answers to some of the most commonly asked questions to help you pick out the most suitable option for you.

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METHODOLOGY

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

Here at MoneyGeek, we value 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, our picks are decided and chosen with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision when choosing a lender that meets your needs.

sources

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.