Top Lenders & Best Picks for You

Best Personal Loans in South Carolina

Truist provides the best personal loans in South Carolina. It doesn’t charge origination fees, prepayment penalties or late fees. Truist earned an A+ BBB rating and provides a mobile app for convenient banking and account management.

Borrowers in South Carolina with bad credit will fare best with Upstart, while those with good credit should consider SoFi. Upgrade is the best lender for debt consolidation, and Best Egg provides the best personal loans for home improvement.

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Last Updated: 11/22/2022
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MoneyGeek’s Best Personal Loan Lender in South Carolina: Truist

MoneyGeek evaluated over 30 factors to identify the best personal loan lenders in South Carolina, taking into account considerations like loan amount, interest rates and payback durations. Other factors like minimum credit score, gross income and age restrictions were also analyzed to see how they would affect your chances of getting approved.

MoneyGeek even explored account features that make it easier for you to manage your personal loans, such as mobile apps or other website features. Based on our research, we identified different lenders that best fit different borrower profiles.

Best Overall Personal Loan Lender in South Carolina: Truist


  • Truist

    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    on Truist Website

Best Personal Loan Lender for Bad Credit in South Carolina: 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 South Carolina: 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 Loan Lender for Debt Consolidation in South Carolina: 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 Loan Lender for Home Improvement in South Carolina: 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 South Carolina for You

Taking out a personal loan in South Carolina is a significant financial commitment. The average personal loan debt in South Carolina is $13,925. A variety of factors influence the approval of personal loan applications.

MoneyGeek outlines considerations to help you make wise decisions when applying for a personal loan in South Carolina. Follow these steps throughout your loan application journey.

1

Ask Yourself the Important Questions

You must consider the following questions before applying for a personal loan in South Carolina:

  • How much money do I need? Evaluate exactly how much money you need to ensure you choose a lender that can meet those needs.
  • What's the current state of my credit? Almost all lenders review your credit score and report since it provides information about how you manage borrowed funds. A bad credit history means you're more likely to default.
  • Is it possible for me to pay the bill on a monthly basis? If you can't make payments on time, you'll be charged late fees and your credit score will suffer. Keep in mind that you must make monthly installments for two to four years.
  • Are there any outstanding bills on my account? If you have other debts to pay off, adding another loan to your list may not be the greatest option.
2

Do Your Research

Make a point of researching fees and terms that will affect you in the long run. MoneyGeek suggests the best lenders for a variety of situations, but you must conduct your own research as well.

Some lenders impose restrictions on how you can use your loan, so make sure you can use the money as needed. Get estimates on your monthly payments to figure out how much you'll have to spend each month. You can also compare rates from several lenders to see which one provides the greatest deal for your needs.

While your situation is unique, our research might be able to help you better understand the considerations to obtain the best personal loan in South Carolina.

3

Wait

Once you think you know which company you want to apply with, wait a few days before applying. This will give you the time to really think through your financial needs and if a personal loan is the right option for you. It’s possible you might be able to come up with a different solution to fulfill your financial needs.

4

Read the Fine Print

Personal loans can be a powerful financial tool. They're a great method to pay off high-interest debt, fund a home improvement project or fulfill other financial responsibilities. Even so, there are a few things to keep an eye out for, including origination fees, requirements and even personal loan scams.

Read the fine print of any loan you are considering and highlight parts that seem ambiguous or confusing. Signing a contract without thoroughly understanding it is like paying for something without knowing what you're getting. Remember that reading the fine print is essential for ensuring you don’t incur unexpected fees that can further derail your finances.

5

Apply

It's time to apply for a personal loan in South Carolina once you've narrowed down your options. Gather the information you need to apply, like your identification, proof of income and anything else the lender requires. You can apply online, in person or over the phone depending on the application options the lender offers. If you can apply in person, that can be the best option since you can get any additional questions you have answered.

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

It’s common for personal loans in South Carolina to be denied for a variety of reasons. If your loan application was turned down, it's critical to figure out why. Call your lender and ask for an explanation. After you've figured out what went wrong, you can make efforts to enhance your odds of approval.

Some typical causes for having a loan declined are a low credit score, high debt-to-income ratio or insufficient income. It's also probable that you omitted information or made a mistake on your loan application. If this is the case, MoneyGeek suggests you speak with your lender about resolving the problems.

Focusing on boosting your profile by leveraging the information provided by your lender is usually more advantageous than simply applying with a different lender. However, in situations where you either cannot persuade them to modify their decision or if you urgently need the money, you could look for a loan from another company.

MoneyGeek advises avoiding payday loans. These are short-term loans that can help you receive cash quickly, but the interest rate is quite hefty and the repayment period is short.

Frequently Asked Questions About Personal Loans in South Carolina

Whether you're taking out a personal loan to consolidate debt, finance a home improvement or support your next big trip, it's crucial that you have a clear repayment plan. MoneyGeek answers some of the most frequently asked questions about personal loans in South Carolina to help you decide which lender is best 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.