Chase Bank does not currently offer personal loans. However, if you’re looking for a loan, you may be eligible for financing through other online lenders and banks.
Personal Loans From Other Banks
If you value working directly with a traditional bank similar to Chase, consider personal loans from Wells Fargo or U.S. Bank. Opening a loan through a traditional bank gives you access to brick-and-mortar locations, in-person customer service and potentially lower interest rates.
Personal Loans From Online Lenders
If you prefer to bank online and don’t need access to in-person locations, consider an online lending platform like SoFi, Figure or LightStream. Online lenders typically have more flexible qualification requirements than traditional banks but at the cost of higher interest rates and fees.
Personal Loans From Credit Unions
While most credit unions are local to your community, the ones listed below are available nationally. While you generally don’t have to join the credit union to apply for a loan, you’ll typically need to become a member if you are approved and want to accept the loan—so be sure to check if you’re eligible.
Alternatives to Personal Loans
A personal loan may not be the best option for your specific needs or creditworthiness. If that’s the case, consider common alternatives, including:
- Using a credit card. Credit cards typically have higher interest rates than personal loans, but they might be easier to qualify for with damaged credit. However, if you have strong credit, you may qualify for a 0% introductory offer, which can save you money on interest.
- Taking out a personal line of credit. Unlike a personal loan, which is disbursed as a lump sum, a personal line of credit lets borrowers access funds up to a certain limit on an as-needed basis. With this type of financing, the borrower only pays interest on what they use, not the entire credit limit.
- Asking family or close friends. If you don’t qualify for a personal loan, consider turning to family or close friends for a loan. Although this is less formal than a traditional loan, you should still put the terms and conditions agreed upon by both parties in writing and make sure everyone is comfortable with the agreement.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
