Best Personal Loans in Iowa

Competition among financial institutions is fierce in Iowa. The state ranks No. 1 in banks and credit unions per capita, so your search for a personal loan lender can be daunting.

Benzinga’s done the work for you. Check out our list of the best personal loans in Iowa to get started.

The Best Personal Loans in Iowa

• Best for Bad Credit: Integra
• Best for Comparing Lenders: Credible
• Best for No Origination Fees: SoFi
• Best for Quick Funding: Figure
• Best for Flexible Terms: Rise

You might conduct much of your financial business online already. Why not add loans to that list? The sheer number of vetted online lenders means you have a high chance of finding a loan that fits your needs. 

Start with our list of the best online lenders for personal loans.

Best for Bad Credit: Integra

Integra Credit makes it easy for anyone to get a loan, even if you don’t have the best credit. You can apply online, read about how to better manage your finances, get a quick decision, sign your documents online and get funded in short order.

Your money is sent directly to your bank account, and you can also enjoy a few other features:

• Flexible payment options
• Flexible loan amounts and terms
• Lines of credit are also available

Your rates and terms may vary depending on your credit situation, but this is a welcoming platform that can help families, agricultural workers, farmers, local businesses and more access cash and make the most of their financial futures.

Best for Comparing Lenders: Credible

Credible scores points with borrowers for its easy-to-use platform and transparent comparisons to other potential lenders.

It’s a free online service to compare personalized loan offers from multiple vetted lenders.

Credible can connect you with lenders for student loans and mortgages. You can also refinance either type of loan or secure a personal loan.

You’ll find personal loan options from 6.99% to 35.99% APR with terms ranging from 1 to 10 years. Loan amounts range from $1,000 to $200,000.

This means you can use Credible to find a personal loan for larger expenses like home improvements and weddings or smaller costs like car repairs.

Best for No Origination Fees: SoFi

If you carry a high balance on your credit cards, paying them down gets difficult as interest compounds. You can use a personal loan to consolidate your debt into 1 monthly payment. Personal loans often have a lower interest rate than credit cards, so debt is made more manageable. 

SoFi offers personal loans for credit card consolidation, home improvements, relocation assistance, and medical procedures. A personal loan from SoFi has no origination or prepayment fees. The online application process is easy and you can prequalify to see how likely your approval odds are without affecting your credit. You can borrow anywhere from $5,000 to $100,000 with flexible terms and a fixed rate.

You can also apply for a mortgage or home equity loan with SoFi. Investment accounts (including cryptocurrency investing), savings accounts and insurance are also available once you’re a client.

Best for Quick Funding: Figure

Figure offers personal loans in an all-online format that allows you to get started as quickly as possible. The firm offers competitive rates and quality customer service throughout the process, and they even offer gift cards to customers who refer friends and family to their personal loans department. This is a good place for consumers to look when they and those around them need swift and simple funding.

Plus, Figure also offers:

• Financing up to $50,000
• Multiple fixed-term options
• Low fees
• Quick funding

Consider Figure when you want to take out a personal loan to addressing an emergent situation or an expense that you don’t want to pay out of pocket all at once. There’s less waiting around, and you can even earn a bit of that money back through referrals.

Best for Flexible Terms: Rise

With Rise, you can borrow $500 to $5000, enjoy a risk-free guarantee and borrow on your terms. You can also take advantage of credit tracking that will help you improve your financial picture. This can be especially helpful for Iowans in rural areas, those who manage their own businesses, anyone who has been hit by unexpected expenses, etc. 

The process is simple because you can:

• Apply online
• Choose your terms and amount
• Sign and get your money

Personal Loan Considerations

There are a few key considerations if you’re thinking about a personal loan. Guide your decision making with these questions:

• Are the rates offered by the lender lower than a credit card? 
• Do you need a lump sum of quick cash or a line of credit you can pay back and use again? 
• Can you repay the loan within the given terms? 

A personal loan may be your best bet if your answers are yes.  

Be aware that some lenders, especially online, do prey on unsuspecting borrowers. Make sure you research a potential lender before you sign off on anything.

Personal Loans vs. Credit Cards

Personal loans and credit cards are both ways to pay for expenses you can’t cover with your regular cash flow. Credit cards tend to be revolving and have variable rates — this is good if you need a consistent line of accessible credit, but variable rates can mean you end up paying more in interest than you expected. Personal loans are a set amount with fixed rates. These are better if you need a 1-time lump sum of cash and want to budget out how much extra borrowing on credit will cost you by the time you pay it back.

A personal loan can cover a large expense or consolidate your debt. Use a credit card if you want a reusable line of credit to use for everyday expenses and purchases.

Find Your Personal Loan

Personal loans can help your credit score, and some offer lower rates than other forms of credit. You can get a loan from a brick-and-mortar institution or use an online lender. Start with our recommended lenders and connections to find the best personal loan for you. 

Frequently Asked Questions