FINANCE

August 28, 2022

Alternatives to Bank of America for personal loans

By tt

Like a few other major American banks, Bank of America does not provide sizable unsecured personal loans. Find possibilities from different banks, online lenders, and credit unions if you need a larger personal loan.

Big banks that provide personal loans include Citibank, Wells Fargo, and PNC. To qualify for a loan, you normally need to sign up as a bank customer and meet minimal credit and income standards.

Bank

Online lenders offer predicted rates without performing a formal inquiry on your credit and accept all credit profiles. Because each organization employs a different algorithm to determine rates.

Online lenders

The majority of credit unions also provide personal loans, usually at lower rates. To qualify, they don't need to have strong credit histories. For a personal loan, your local credit union is a smart place to start.

Credit Unions

Bank of America offers other types of loans, including: Home loans Auto loans Credit cards

Other Bank of America loans

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