MoneyGeek assessed more than 30 data points to choose the best personal loans in San Antonio. These factors include Better Business Bureau (BBB) ratings, repayment terms, interest rates and other fees charged by lenders. Based on these attributes, the best lender in San Antonio overall is Truist. However, San Antonio residents with poor credit, new credit or no credit should consider Upstart. Those with good credit would benefit from looking into SoFi.
Top Lenders & Best Picks for You
Best Personal Loans in San Antonio, TX
Updated: December 28, 2023
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WHAT WE’RE GEEKING OUT ON
- The Best Overall Personal Loan Lender in San Antonio
- The Best Personal Loan Lender for Bad Credit in San Antonio
- The Best Personal Loan Lender for Good Credit in San Antonio
- The Best Personal Loan Lender for Debt Consolidation in San Antonio
- The Best Personal Loan Lender for Home Improvements in San Antonio
- How to Choose the Right Personal Loan Lender for You
- Frequently Asked Questions About Personal Loans in San Antonio
MoneyGeek’s Pick for Best Lender in San Antonio, TX: Truist
Best Overall Personal Loan Lender in San Antonio: 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
Based on our review of several lenders to find the best personal loans in San Antonio, we found that Truist is the best choice. Truist has an A+ rating from BBB and funds can be available the next day. Truist doesn’t charge fees to process your application nor late fees. In addition, Truist allows borrowers to pay off a loan completely before the end of the term without charging any penalty.
The lender offers loans to unemployed applicants and is a great choice for those who need a substantial amount quickly. Loans are accessible directly via the lender’s app. However, loans from Truist are only offered in 15 states. It also places restrictions on how you can utilize your funds. For example, you cannot use the borrowed amount to refinance an existing loan from Truist or to invest in stocks or businesses.
Pros
- No origination fee
- No prepayment penalty
- No late fee
- Loans are funded immediately after approval
- Offers auto payment discount
Cons
- Not available to applicants with new or no credit
- Conducts a hard credit inquiry
- Available only in 15 states
- Has restrictions on usage of funds
- APR range: 8.14% to 18.99%
- Minimum/maximum loan amount: $3,500 to $50,000
- Minimum credit requirements: None
- Repayment terms: Six to 60 months
- Time to receive funds: Next day
Best Personal Loan Lender for Bad Credit in San Antonio: 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
Upstart is MoneyGeek’s preferred lender for applicants in San Antonio with poor credit, new credit or no credit. BBB has rated Upstart as an A+ lender that services loans in 48 states. Upstart does not charge any prepayment penalty, which means you can pay off your entire loan before it’s due without penalty.
As for loan availability, Upstart does not service West Virginia nor Iowa. That said, loans are available to applicants with new or no credit. It is a good option for applicants looking for a loan of up to $50,000. Upstart’s credit check does not affect your credit standing either.
Upstart’s APR charges are at the higher end of the spectrum with rates as high as 35.99%. You may also need to wait until the next day to receive your funds even after your loan is approved.
Pros
- Carries out a soft credit inquiry
- No prepayment penalty
- Offers loans in 48 states
- New or no credit eligibility
- No restriction on usage of funds
Cons
- Charges a fee to process applications
- Does not allow co-signers
- High APR rates of up to 35.99%
- APR range: 3.22% to 35.99%
- Minimum/maximum loan amount: $1,000–$50,000
- Minimum credit requirements: 300
- Repayment terms: 36 to 60 months
- Time to receive funds: Next day
Best Personal Loan Lender for Good Credit in San Antonio: 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
If you’re looking for the best personal loan in San Antonio and you have good credit, SoFi is our top pick. SoFi, which has an A+ rating from BBB, is the right choice for San Antonio residents with a good credit score looking to get a loan of up to $100,000.
SoFi started out with student loan refinance options, but widened its services to other areas, including personal loans and mortgages. It does not charge any late fee, offers a discount of 0.25% if you set up auto payment on your account and has relatively low APR rates, with the maximum being 20.28%. However, it only offers loans to employed applicants with a gross salary of $50,000.
To repay your loans, you can choose a term of 12 to 60 months, with the option of repaying your loan before the end of your agreed term without penalty. However, you need to have a minimum credit score of 680 to qualify for a loan from SoFi.
Pros
- Offers auto payment discount
- No fee to process your application
- No prepayment penalty
- No late fee
- Conducts a soft credit check
Cons
- Doesn't accept co-signers
- Offers loans only to employed applicants with a minimum salary of $50,000
- Not available to people with new or no credit
- APR range: 5.74% to 20.28%
- Minimum/maximum loan amount: $5,000–$100,000
- Minimum credit requirements: 680
- Repayment terms: 12 to 60 months
- Time to receive funds: Two days
Best Lender for Debt Consolidation in San Antonio: 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
Based on MoneyGeek’s evaluation, the best personal loan in San Antonio to consolidate your debt is Upgrade. With a BBB rating of A+, Upgrade is the best choice if you’re looking to borrow up to $50,000 to combine your existing debts and pay them off. Based in San Francisco, Upgrade has been servicing loans since 2017 without imposing any minimum income eligibility, although it does require you to be employed to qualify for a loan.
Upgrade gives an option to pay off your loan within 36 to 60 months and also does not charge any penalty if you pay off your loan in full before your term ends. It performs a soft credit check without impacting your standing, but you must have a minimum credit score of 560 to be eligible for a loan.
It also imposes restrictions on how you can utilize your funds. For instance, you cannot use your loan to fund post-secondary education or for gambling activities. The lender charges steep APR charges that could go as high as 35.47%.
Pros
- Performs a soft credit check that does not affect your credit standing
- Does not impose minimum income qualification
- Available in all 50 states
- Processes applications through its mobile app
- No prepayment penalty
Cons
- Offers loans only to employed applicants
- High APR rates of up to 35.47%
- Charges a late fee of $10
- APR range: 5.94%–35.47%
- Minimum/maximum loan amount: $1,000–$50,000
- Minimum credit requirements: 560
- Repayment terms: 36 to 60 months
- Time to receive funds: Same day
Best Lender for Home Improvement in San Antonio: 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
Best Egg is MoneyGeek’s top pick when it comes to the best personal loans for San Antonio residents who wish to utilize the amount towards home improvement expenses.
The lender offers considerably quick loans of up to $50,000 by funding loan accounts the day after it’s been approved. However, it charges a processing fee that can be as high as 6%. Fortunately, it does not charge any prepayment penalty and also offers a discount of 0.5% if you set up auto payment on your account. Best Egg has relatively high APR rates, with the maximum being 35.99%.
Best Egg has a high credit score eligibility of 700. Soft credit checks are performed, which don’t have any impact on an individual’s credit. Best Egg offers loans only to employed applicants with a minimum gross salary of $50,000 and does not impose any restrictions on the usage of funds.
Pros
- No prepayment penalty
- Provides discount if you set up auto payment
- No restrictions on usage of funds
- Provides loans in 47 states
- Does not consider debt-to-income ratio to provide loans
Cons
- High APR rates of up to 35.99%
- Charges late fee
- High credit score eligibility of 700
- APR range: 4.99% to 35.99%
- Minimum/maximum loan amount: $2,000–$50,000
- Minimum credit requirements: 700
- Repayment terms: 36 to 60 months
- Time to receive funds: Next day
How to Choose the Best Personal Loan Lender in San Antonio For You
When choosing the best lender for a personal loan, you must first take into account the purpose of your loan. Lenders in San Antonio take into account several factors, such as credit score, income and loan duration.
The average credit score in Texas is 688, while the average interest rate that lenders charge on a personal loan is 8.78%. These are important numbers that you must be aware of if you want to understand the typical profile of a borrower and what you can expect from the lenders in your city.
MoneyGeek also offers details on some other aspects that you must consider before you apply for a personal loan.
1
Ask Yourself the Important Questions
While a personal loan could help you in times of urgency, you must consider all other options before committing to it. Once you’ve decided that this is the best course of action, consider the following questions.
- How much funding do I need? Understand the purpose and evaluate the optimum amount that you need to meet your expenses.
- What is my credit score? Your credit score is one of the most important factors that lenders check when considering your application.
- Can I afford the monthly payment? Other important factors that you must consider are the interest rate and loan duration. These dictate your monthly payment, which can be adjusted.
- How much debt do I already have? If you have existing debts, it’s a good idea to pay them off first before applying for another loan. Alternatively, you can consolidate your existing debts by taking out a personal loan that offers better terms than your existing ones.
2
Do Your Research
Once you’ve decided that taking out a personal loan is the best option for you, you must perform your own research to find the best terms for you. MoneyGeek has conducted exhaustive analysis to find leading lenders in San Antonio. However, your situation will be a factor and we recommend getting at least three quotes from different lenders to know the commitment that a personal loan entails.
3
Wait
Once you’re satisfied with your research and have understood all the aspects of the lender’s terms, wait for a few days before making your decision. Consider the financial implications of a personal loan and whether the monthly payments are feasible. This is a significant commitment of your finances for a considerable period of time. You must be sure about this decision.
4
Read the Fine Print
You must be completely aware of all the fees and charges of the lender and understand its implications. Some lenders charge a fee even to process an application whereas others don’t. See whether your lender charges a penalty to completely pay off the loan before it is due. Although these aspects may seem small, they can end up in significant savings.
5
Apply
Once you’ve covered all the aspects, you can continue with your application. Keep in mind that lenders will ask for proof of identification, income and residence. Keep these handy once you’ve decided to apply for a loan.
Many lenders in San Antonio will give you the option of completing the application via their website or app. However, you can also visit your lender’s office or give them a call to personally iron out any last minute questions that you may have.
What to Do if You Can’t Get a Personal Loan in San Antonio
Once you’ve completed the application process, your lender may take a few days to approve it. In situations where your application is not accepted, there is no cause for panic.
You can approach your lender to inquire of the reason for rejection of your application and check if there are any alternatives in the given situation. Personal loan applications can be rejected for multiple reasons, such as low income levels, high debt-to-income ratios and low credit scores.
Check with the lender if there are ways to improve your chances of getting your application approved. You can also approach other lenders once you’re sure that you meet their criteria.
However, if you’re planning to apply for payday loans, be aware that these loans typically have steep interest rates and can put you at risk of significant debt.
Frequently Asked Questions About Personal Loans in San Antonio
Lenders in San Antonio consider several factors before approving personal loans. To know more about personal loans in the city, you can read some of the most frequently asked questions.
What is the best personal loan lender in San Antonio?
Truist is the best personal loan lender in San Antonio overall based on MoneyGeek's analysis, while SoFi is top pick for applicants with good credit. Those with poor credit, new credit or no credit should consider Upstart.
Which lender in San Antonio has the lowest interest rate?
With APR rates as low as 3.22%, Upstart has the lowest personal loan interest rates in San Antonio.
Can I use a personal loan for vacations in San Antonio?
Yes. San Antonio residents can use personal loans to fund trips. That said, check whether your lender has any restrictions when it comes to utilizing borrowed funds.
Can I use a personal loan for home improvement in San Antonio?
Yes. In fact, many San Antonio residents take out personal loans to meet their home improvement expenses. It’s a good way to renovate your home and increase its market value. However, it is recommended check with your lender for any restrictions.
What can I not use my personal loan for in San Antonio?
Not all lenders in San Antonio have restrictions in place. Typically, loans cannot be used to fund gambling expenses nor invest in stocks or businesses. You can check with your lender for details.
How much can I borrow in San Antonio?
Different lenders place varying restrictions on the amount that applicants can borrow. Usually, lenders start offering personal loans as low as $1,000 and cap their limits at around $50,000.
How long does it take to get a personal loan in San Antonio?
Depending on the lender you choose, some lenders like Truist fund loans on the same day they are approved. Others, such as Upstart and Best Egg, take anywhere from three to five days.
Can I pay off my loan early in San Antonio?
Although it’s a good idea to pay off your loans as soon as possible, some lenders do charge a penalty for settling a debt early. Before you apply, check with the lender to confirm that you won’t be subject to this penalty.
Our Personal Loan 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 determined with your best interest in mind. Our personal loan recommendations and expert tips are meant to help you make the best decision confidently.
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
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