Best Low Interest Personal Loans June 2021 – Forbes Advisor
With a personal loan from US Bank, you can quickly access funds for your one-time financing needs, whether it’s consolidating debt or covering a large expense. US Bank offers unsecured personal loans ranging from $ 1,000 to $ 25,000 to existing customers of the US bank. Loan terms range from 12 to 60 months.
US Bank loans carry low interest rates ranging from 5.99% to 16.49%, depending on your creditworthiness, which includes a 0.50% discount on the automatic payment. Borrowers with higher credit scores are more likely to benefit from interest rates at the lower end of the scale. Like other major vendors, US Bank does not charge any set-up fees and prepayment penalties, which means you can always make loan payments before they are due.
Applying for a US bank loan is easy and can be done online; however, you must be a current US Bank customer. Some customers may need to visit a branch of a US bank if additional information or documents are required.
Eligibility: US Bank requires applicants to be existing customers of US Bank. If you are a current customer, you are eligible for a personal loan with a minimum credit score of 680. However, those with scores of 680 will not benefit from the lowest interest rates available.
Since you may need to visit a branch to complete your loan, you should live near a physical location. US Bank has branches in 26 states: Arkansas, Arizona, California, Colorado, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Minnesota, Missouri, Montana, North Carolina, North Dakota, Nebraska, New Mexico, Nevada , Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin and Wyoming.
The loan uses: US Bank personal loans can be used for any purchase or product in addition to housing or education costs. For example, they can cover vacation expenses, home renovations, medical bills, or help consolidate debts like credit cards.
Completion time: An applicant will typically learn their loan approval status in less than a minute. If you qualify for the personal loan, you can finance your loan online; however, you may need to visit a branch if a US bank representative needs more information. After your loan closes, the funds are available within one business day.