Chase personal loan alternatives: 3 options to consider

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In a Nutshell

Although JPMorgan Chase Bank doesn’t currently offer personal loans, other lenders offer personal loans that may be good alternatives for you. We’ve rounded up a few lenders with a national reach that you might want to consider.
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Chase doesn’t currently offer personal loans. So if you’re an existing Chase customer hoping to get a Chase personal loan or simply want to explore Chase as a lender, you’ll need to look at other options. We’ve rounded up a few alternative lenders to consider if you’re in the market for a personal loan.

Wells Fargo: Large loan amounts

Why you may want to consider Wells Fargo: Wells Fargo is a national bank that offers unsecured personal loans in amounts up $100,000. That’s a big enough sum to cover major expenses like a home improvement project.

Some other things to know about Wells Fargo personal loans.

  • Prequalification — You can prequalify for a loan on Wells Fargo’s website. This can make it easier to shop around and compare it with other options without hurting your credit scores. Just remember that prequalification is not a guarantee of an offer or terms — once you prequalify you’ll have to apply and submit to a hard credit inquiry before getting a final offer.
  • Minimal fees — There’s no origination fee for a Wells Fargo personal loan. Plus you can pay your loan off early without getting charged a prepayment penalty.
  • A wait for funding — Some lenders offer potentially same-day funding. But Wells Fargo takes one to three business days to distribute loan funds.
  • Flexible repayment terms — You can choose from repayment terms between 12 to 84 months. Just remember that a longer term typically means paying more interest over the life of the loan.
  • Rate discounts for existing customers — If you already bank with Wells Fargo, you may qualify for “relationship discount” up to .25%.

Read more reviews of Wells Fargo personal loans.

U.S. Bank: Multiple loan options

Why you may want to consider U.S. Bank: U.S. Bank, another bank with a national presence like Chase offers a variety of loans. Its lineup of loan products includes personal loans, home improvement loans, simple loans for fast cash, and personal lines of credit.

Here’s a closer look at U.S. Bank personal loans.

  • Competitive interest rates — Interest rates on U.S. Bank’s personal loans are lower than rates you may find elsewhere. Plus you can get a 0.5% interest rate discount if you sign up for autopay with a U.S. Bank account.
  • Some loans require an in-person component — You can apply for all U.S. bank loans online. But its home improvement loans, for example, might need to be closed in-person at a local branch.
  • No prepayment penalties — If you have plans to pay off a personal loan early, you’ll be glad to know that U.S. Bank doesn’t charge prepayment penalties. You can repay what you owe months or years in advance and save money on interest.
  • High credit score requirement — U.S. Bank caters to customers with good credit. If your credit score is under 660, you might have trouble qualifying for one of its loans.

Check out more reviews of U.S. Bank personal loans to learn more.

SoFi: Member perks

Why you may want to consider SoFi: SoFi offers some unique member perks you can enjoy if you take out one of its loans. These include a 0.125% interest-rate discount on other loans and access to career coaching and events like happy hours and dinners with other members.

Here’s the scoop on SoFi personal loans.

  • Flexible terms — Repayment terms for SoFi personal loans range from two to seven years. A longer term might mean lower monthly payments, though you’ll likely pay more interest.
  • Unemployment protection — SoFi’s unemployment protection can be useful if you get laid off through no fault of your own. SoFi says it will let qualifying borrowers pause payments in increments of three months (for up to 12 months total over the life of the loan) and even help with your job search.
  • Change your due date — As long as your account is in good standing, SoFi will let you change the date your monthly payment is due once a year. All you have to do is log into your account and choose a date that works best for you.

Read more reviews of SoFi personal loans.

How we picked these alternatives

To help choose alternatives to a Chase personal loan, we compared many lenders and made our top picks based on factors like interest rates and other loan terms, eligibility requirements and loan amounts. If you’re considering a personal loan and these picks don’t work for your financial situation, you may want to consider personal loans for fair credit, personal loans for bad credit or interest free credit cards. Not sure how much you can afford to borrow? Try our personal loan calculator to help estimate your monthly loan payments.

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA in marketing from Roosevelt Un… Read more.