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Best Personal Loans in Missouri for 2020 • Benzinga

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Trying to budget for a large expense or paying down debt can feel impossible sometimes. If you find yourself needing more cash than you can afford to set aside, why not check out a personal loan? A personal loan is a great way to spread an expense over an extended period of time. Benzinga found the best personal loans in Missouri, so use our list as a launching point.

Best Personal Loans in Missouri Near You:

  • Best for U.S. Military Service Members and Veterans: Navy Federal Credit Union
  • Best for Applicants with Low Credit Scores: United Credit Union
  • Best for Emergency Funding: U.S. Bank
  • Best for Easy Online Application: Credible
  • Best for Student Loan Refinancing and Debt Consolidation: SoFi
  • Best for Debt Consolidation: Payoff

Best Personal Loans Through a Credit Union in Missouri 

Credit unions are member-owned, so customers benefit from profits, not shareholders. These benefits are often in the form of lower rates for products like personal loans.

Loan Amounts

$250–$50,000

Terms Offered

12–60 Months

Best for U.S. Military Service Members and Veterans: Navy Federal Credit Union

In business for almost 90 years, Navy Federal Credit Union caters to all active and veteran military members and Department of Defense workers. Family of servicemen and women are also eligible members.

Members of Navy Federal have access to world-class banking services. Its comprehensive mobile app is available to Apple, Android and Kindle Fire users. 

As a Navy Federal client, you can apply for personal loans, home improvement loans, debt consolidation loans, shared secured loans and certificated secured loans.

Loan Amounts

Determined by applicant’s borrowing power

Best for Applicants with Low Credit Scores: United Credit Union

United Credit Union offers its services to several counties throughout Missouri. Aside from proof of residence, you need a picture ID, Social Security number and a $1 minimum deposit to an eligible account.

United offers vehicle loans, personal loans, student loans, home and land loans, vehicle refinancing and shared-secured loans. You can also apply for a United Cash Loan, a solution to predatory payday lenders for when you need $100–$500 quickly. There are no prepayment fees and flexible terms, a definite draw when selecting a good personal loan.

One benefit of using United is its transparent loan rates. Many lenders do not specify credit score requirements or accept applicants with poor credit. United spells out expected APR rates for each type of loan and credit tier, including for credit scores at or lower than 579. Applying for a loan with less than perfect credit can be intimidating, so if you want a personal loan to start working on your credit, United is a great credit union to look into.

Best Banks in Missouri Offering Personal Loans

Most of us use banks for our personal finance needs, and for good reason. Banks get points for numerous locations, great online banking options and a host of financial products.

Loan Amounts

$1,000–$25,000

Terms Offered

2–60 months

Best for Emergency Funding: U.S. Bank

U.S. Bank is a nationwide bank with numerous branches throughout Missouri. 

U.S. Bank offers the following personal banking services: Online and mobile banking, checking and savings, credit cards, mortgages and refinance, loans and credit lines, and investment and retirement.

You can get a personal loan from U.S. Bank to cover a big expense or to consolidate debt. Rates are competitive and fairly flexible. You can also apply for a true emergency expense loan with its Simple Loan offering. As a U.S. Bank client, you’ll be able to access up to $1,000 in quick, fast cash. You know within minutes of applying if you qualify and, if approved, receive your funds just as quickly.

Best Personal Loans in Missouri from Online Platforms

Being able to handle your money online is increasingly important as time goes on. The online lending industry has responded to this need with several great lenders targeting all types of borrowers.