Best Personal Loans in Florida

Quick Look: The Best Personal Loans in Florida

• Best for Comparing Lenders: Credible
• Best for No Origination Fees: SoFi
• Best for Credit Card Consolidation: Payoff
• Best for No Collateral Required: Axos Bank
• Best for Flexibility: OneMain Financial

Sometimes your savings doesn’t cut it for an emergency expense or big home upgrade. Consider a personal loan to bridge the gap. 

A personal loan is 1 lump sum payment you pay off in installments over a fixed period of time. Ready to secure quick cash? Start with our list of the best personal loans in Florida.

The Best Personal Loans in Florida 

Get the cash you need quickly with any of our online lenders. You can apply and manage your loan conveniently from your phone.

Credible

Comparing loans is an important part of the borrowing process. Credible’s free service makes it simple. You can get personalized prequalified rates without affecting your credit score.

The process takes less than 2 minutes. Just answer a few questions about yourself and your desired loan. Credible provides personalized prequalified rates. You can pay for things like moving or starting a business. You can also refinance your credit cards and pay the debt off at a low, fixed rate.

You’ll find personal loan options with competitive rates and terms from 1 to 7 years. You can compare loans ranging from $600 to $100,000. 

Credible will also link you with lenders that provide home loans, mortgage refinancing and student loans and student loan refinancing.

SoFi

SoFi offers personal loans, home loans, student loans or refinancing options. Other personal finance products include investing options and deposit accounts. SoFi can also be used as a credit monitoring tool.

Reconsolidate your debt or fund the home renovation you’ve mapped out. You can borrow anywhere from $5,000 to $100,000. You’ll benefit from flexible terms and low fixed rates.

The whole application process is simple and easy to complete online.

Work with SoFi to enjoy the flexibility of no origination fees, prepayment fees or late fees.

Payoff

The Payoff personal loan is structured around refinancing your debt. You can roll your debit into 1 monthly payment at a low, fixed interest rate. 

Loans range from $5,000 to $35,000 with fixed rate APR. Terms are fairly flexible (2 to 5 years) and origination fees can be 0% to 5%.

Payoff is clear about borrower standards. Check out its website for specific qualifications. You’ll need at least a 640 credit score and decent credit overall.

You could see as much as a 40-point score increase with FICO with a Payoff loan. The loan will raise your overall credit limit. It can also lower your credit utilization as you pay down balances with other lenders.

Axos

When Floridians want to borrow money, they can turn to a range of financial platforms or banks. Axos Bank is known for offering consumers a wide range of products from checking accounts to investing accounts and more. With an all-online application, you can choose from a wide range of loan amounts, flexible terms and get your money direct deposited into your account. Plus, you can open other accounts at Axos if you want to bring your money under one umbrella.

Plus, Axos offers:

• Flexible application criteria
• Loans to cover any of life’s issues or challenges
• Information that helps you make financial decisions

You can use these loans to fund vacations, college tuition, emergencies and much more. Because the Florida real estate market is so volatile, you might take out a loan to make a down payment on a home, for construction, remodeling or rebuilding in the event of a disaster. Consider applying even though you’re retired because there are options available at Axos.

OneMain Financial

With flexible terms and loan values, OneMain Financial allows Floridians to get funded in just a few days, irrespective of the purpose of the loan. The platform has broad coverage across Florida, and allows borrowers to:

• Choose a loan term and value that’s best for them
• Choose between secured and unsecured loans
• Avoid prepayment fees
• Pay competitive origination fees

Keep in mind that OneMain Financial’s APRs tend to be higher than the competition, but it might be the perfect loan for a teacher with a low or growing credit score. This is also a good place to seek a loan for an emergency or unexpected expense, which can happen easily in Florida due to weather patterns, etc.

Personal Loan Considerations

When researching personal loans, look for low rates, flexible terms and minimal fees. Be sure you can meet whatever standards you agree to — you can face unpleasant financial consequences if you don’t follow through. Stray away from seemingly shady lenders, especially online. Borrow from trusted lenders and watch out for predatory loans that offer unfair or hard-to-understand terms.

Personal Loans vs. Credit Cards

How do you know if you need a personal loan or a credit card? A credit card provides a revolving line of credit you can consistently access. A personal loan will provide a lump sum payment to consolidate debt or fund a large, 1-time purchase. 

Talk to your preferred lender to learn more about the best option for your situation. Start with our recommended financial institutions to find out if a personal loan is right for you. 

Peace of Mind with a Personal Loan

Personal loans are a perfect way to come up with extra cash when you fall short. Whether you have something special to pay for or just want some cushion for emergencies, a personal loan can take the load off your shoulders and offer peace of mind. 

Frequently Asked Questions