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6 Best Personal Loans in Oklahoma for 2020 • Benzinga

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If you’re eyeing a bathroom remodel or trying to pay down debt, use a personal loan to cover the balance. Use our guide to the best personal loans in Oklahoma to find one that meets your needs.

Best Personal Loans in Oklahoma:

  • Best for Military Service Members: Tinker Federal Credit Union
  • Best for Improving Credit: Focus Federal Credit Union
  • Best Community Bank: Bank of Oklahoma
  • Best Online Application: Credible
  • Best for Student Loan Refinancing: SoFi
  • Best for Debt Consolidation: Payoff

Through a Credit Union 

Credit unions are member-owned financial institutions that often take a special interest in helping the community they operate in. Personal loans from credit unions often have relatively low rates — these Oklahoma credit unions are a good place to start your search. 

Loan Amounts

Up to $35,000

Terms Offered

Up to 60 months

Best for Military Service Members: Tinker Federal Credit Union

Tinker Federal Credit Union (TFCU) is Oklahoma’s largest credit union with an equally large offering of financial services. You can open a checking or savings account, take out a loan, apply for a credit card, or enlist financial planning services with TFCU.

The credit union offers auto loans for new and used vehicles and recreational vehicles along with home loans. You can apply for a no-collateral personal loan, though you may choose from a secured personal loan, student loans, lines of credit, as well as disaster relief and storm shelter loans.

TFCU’s legacy is one of working closely with military members. Service members are eligible for an impressive suite of rewards benefits, including a first-time buyer auto or home loan. This helps service members meet their financial goals without the burden of building credit, which can be hard if you enlist as a young adult.

Terms Offered

12–60 Months

Best for Improving Credit: Focus Federal Credit Union

Focus Federal Credit Union has been serving Oklahoma since 1955 and currently has 11,000 members. You can choose from many financial services as a member. It offers several accounts in both the checking and savings categories, some of which are high-yield interest rate accounts.

If you need a personal loan, Focus Federal Credit Union has a few choices. Its general person loan can be used for anything, including as a backpacking-through-Europe loan. 

The credit union also offers a Credit Builder loan and a Fresh Start personal loan. A Credit Builder loan is for borrowers with no credit history. The Fresh Start personal loan is a small loan where you receive half the funds in your checking account and a half in your savings. Once you pay off the first half, Focus releases the remaining funds. This can help you build credit with small amounts that are paid back easily without racking up much debt.

You can also get an auto, home or storm shelter loan through Focus Federal Credit Union.

Best Banks in Oklahoma: Offering Personal Loans

Banks are large financial institutions that offer the full spectrum of financial services including personal loans. Banks get points for accessibility — they usually have multiple branches and high-functioning online banking capabilities. 

Bank of Oklahoma is a large bank with a community feel, focusing on giving back and social responsibility. However, you’ll find national chain-level offerings from this institution.

You can choose between a personal loan or personal lines of credit. The bank determines rates and terms on a client-by-client basis, so chat with a banker online or visit a local branch to see if it works for you. Personal loans are always unsecured and come with fixed rates and fixed terms, while personal lines of credit have variable rates and terms.

Bank of Oklahoma also offers auto and home loans. Checking, savings, CDs and wealth management are other financial products.

Best Personal Loans in Oklahoma from Online Platforms

Instead of visiting a bank and filling out tedious forms, why not apply for a personal loan from the comfort of your couch? Check out our partners to determine if an online lender makes sense for you.