Best Personal Loans in Plano, TX: Top Lenders & Best Picks for You

Truist was established in 1872 and, as of June 2021, had $509 billion in assets, making it one of the largest banks in the nation. Truist provides a variety of benefits to prospective customers. There are no origination fees or prepayment penalties.

However, this lender has several restrictions on how you can use the money. For example, you can't use a personal loan to pay off another loan, fund educational expenses or make a business purchase. Additionally, whereas many of its competitors begin the process with soft inquiries that have no impact on your credit scores, Truist conducts hard credit checks.

Pros

• Low APR
• 0.5% autopay discount
• Fast fund disbursement
• No late fees or prepayment penalty
• No origination fee

Upstart is an excellent personal loan provider for those with bad credit. The company only requires a minimum credit score of 300, has a solid BBB rating and can process the funds quickly. Additionally, it only runs a soft credit check before accepting the loan, so your credit isn’t affected until you commit.

That said, Upstart is not the best option if you need a loan larger than $50,000. The high end of its APR is also considerably higher than others.

Pros

• Low minimum credit score requirement
• Conducts soft credit check
• A+ Better Business Bureau rating
• Fast loan funding
• Grace period of 10 days before charging late fees

SoFi is the best lender for consumers with good credit and only accepts applicants with credit scores higher than 680. You can save money with this personal loan provider because it has no origination, late or prepayment penalties. SoFi also offers a 0.25% autopayment discount. If you require a sizable loan, SoFi lets you borrow up to $100,000.

However, applicants may be disqualified if they want co-signers on their loan application, don't meet the minimum yearly income of $50,000 or don't have at least good credit.

Pros

• Loans of up to $100,000
• 0.25% autopay discount
• Soft credit check
• No prepayment penalty or late fee

MoneyGeek determined that Upgrade is the top provider of personal loans in Plano for debt consolidation. Upgrade, a relatively young company, was founded in 2016.

When you take out an Upgrade personal loan to consolidate your debts, the lender pays your creditors right away. Additionally, it can offer funding quickly. This company is a good option for those looking for smaller to modest loans but not for consolidating large debts, as loan amounts only range from $1,000 to $50,000.

Upgrade’s maximum APR applies to those with poor credit. Therefore, the lender best suits those with at least fair credit.

Pros

• Direct payment for debt consolidation
• No prepayment penalty
• Soft credit check

Best Egg was established in 2014 and has since developed a reputation as an affordable online lender. Best Egg is an excellent option if you're looking for an in-state lender for home improvements.

The company provides various benefits to customers looking for personal loans for home improvements in Plano and has an A+ rating with the Better Business Bureau. It conducts soft credit checks that won’t impact your credit score. Best Egg does not impose a penalty if you repay your loan early.

However, Best Egg charges up to an 8.99% origination fee. It's also important to note that this lender requires applicants to be employed and have a minimum annual gross income of $50,000.

Pros

• Soft credit inquiry
• A+ rating from the BBB
• No prepayment penalty
• Quick fund release
• No DTI limits