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Chase is one of the largest banks in the country, with branches across the U.S. But the bank doesn’t currently offer personal loans.
If you have a bank account, auto loan, credit card or home loan with Chase, it makes sense that you’d consider the bank for a personal loan. But since the Chase doesn’t offer them, you’ll have to look elsewhere.
Whether you want to refinance debt or take on a home improvement project, we’ll walk you through some alternatives to Chase Bank to help you find the best personal loan for your needs.
- Wells Fargo: Personal loans and lines of credit from an established bank
- Marcus by Goldman Sachs: Direct payments for debt consolidation
- Upstart: Online lender with alternative lending criteria
- Avant: Online lender for less-than-perfect credit
Why you may want to consider Wells Fargo: Like Chase, Wells Fargo has bank branches across the U.S. But unlike Chase, Wells Fargo offers several personal loan options, including unsecured and secured loans as well as lines of credit. But take note: You must be an existing Wells Fargo customer to qualify for one of its loans.
Here are some more details about Wells Fargo personal loans.
- Large loan amounts — Loan amounts range from $3,000 to $100,000 for unsecured loans and $3,000 to $250,000 for secured loans.
- Interest rate discount — Wells Fargo offers a relationship discount if you have a qualifying checking account and make automatic payments from a Wells Fargo deposit account.
- Competitive interest rates — If you’re rate shopping, Wells Fargo offers competitive interest rates compared to other large lenders.
- Direct payments for debt consolidation — If you want to pay off high-interest credit cards or other debt with a personal loan, Wells Fargo can pay off your creditors directly. You just need to provide the information via phone or to a branch banker when you apply.
Read our Wells Fargo personal loan review to learn more.
Why you may want to consider Marcus by Goldman Sachs: Marcus — an online lender operated by Goldman Sachs — is another large national bank. In addition to personal loans, Marcus offers a high-yield savings account and CDs.
Here’s some more info about Marcus by Goldman Sachs.
- Direct payments for debt consolidation — Like Wells Fargo, Marcus will pay debt directly from your funds for you if requested. The lender will pay up to 10 credit card accounts.
- Loan amounts — Marcus offers loan amounts that range from $3,500 to $40,000 with loan terms ranging from 36 to 72 months.
- Competitive interest rates — Interest rates for a Marcus loan vary but are competitive with other online lenders. The lender says that people who qualify for its lowest rates typically have excellent credit. So if your credit is shaky or you don’t have a credit history, you’ll likely be offered a higher interest rate, or you may not be approved.
- On-time payment reward — If you make your full loan payments on time for at least 12 consecutive months, you can defer one payment without accruing additional interest or fees.
For more details, read our Marcus personal loan review.
Why you may want to consider Upstart: Upstart is a peer-to-peer lender that uses machine learning to consider more than your credit scores when making lending decisions.
Here are some more details about Upstart personal loans.
- Potentially fast funding — If approved, you may receive your funds as soon as the next business day. That can be helpful if you need fast cash for an emergency, like a car repair.
- Origination fee — Upstart may charge an origination fee to process your loan. That fee is deducted from your loan funds before you receive them, which will reduce the total amount you receive.
- No prepayment penalty — If you want to pay off your loan early, Upstart won’t charge you a prepayment penalty.
Read our Upstart personal loan review for more info.
Why you may want to consider Avant: Avant is an online lender that may be a good option if you have less-than-perfect credit. The lender says its borrowers typically have credit scores ranging from 600 to 700.
Here’s some more info about Avant personal loans.
- Interest rates may be higher — Compared to other lenders on this list, Avant’s rates tend to be higher. But you can check your potential loan terms without affecting your credit scores. Make sure to double check the interest rate and repayment terms on any loan offer before you officially agree to the loan to make sure you can afford the monthly payments.
- Loan amounts — Avant offers loans from $2,000 to $35,000, with loan terms ranging from 24 to 60 months.
- No prepayment penalty — You can pay off your loan early without facing a prepayment penalty fee.
- Administration fee — If approved, Avant may charge you an administration fee that will be deducted from your loan funds.
For more details, read our Avant personal loan review.
How we picked these alternatives
We considered a number of factors when picking Chase personal loan alternatives. We examined loans from financial institutions with a national reach like Chase that offer a range of secured and unsecured personal loans. We also reviewed loans from online lenders that might be a good fit for people looking for an alternative to a Chase personal loan.