Best Personal Loans in Mobile, AL

Regions Bank is recognized as the best personal loan lender in Mobile, Alabama, with a MoneyGeek Score of 98 out of 100. It provides several features for borrowers, including no origination, processing, or prepayment fees, and same-day funding.

However, its maximum loan amount is capped at $50,000, which may not meet the needs of those seeking larger loans. Additionally, borrowers should be aware that there is a late fee of 5% of the unpaid loan amount.

Laurel Road is the best online lender for personal loans in Mobile, Alabama, boasting a MoneyGeek score of 93 out of 100. Its personal loan offerings are substantial, with amounts ranging from $5,000 to $45,000 and repayment options extending from 36 to 60 months, providing a variety of choices to meet different borrowing needs.

Borrowers considering Laurel Road should note its offer of a 0.25% autopay discount, which can reduce interest costs over the life of the loan, and the absence of origination fees, leading to potential savings at the outset. However, the lender does mandate a high minimum loan amount, which might not align with the financial requirements of those seeking smaller loans. Additionally, a late fee of 5% or $28 enforces a penalty for missed payments, emphasizing the importance of on-time repayment.

The Infirmary Federal Credit Union ranks as the runner-up for the best personal loans in Mobile, Alabama, receiving a MoneyGeek Score of 92 out of 100. It stands out due to its no application fees and APR as low as 9.99%. However, borrowers should take note of its $15 late payment fee, as well as the need for membership to apply.

All In Credit Union stands out as a suitable option for personal loans in Mobile, Alabama, with a MoneyGeek score of 90 out of 100. One of its highlights is the absence of application fees, which can help reduce upfront costs for borrowers. It also boasts a BBB rating of A+, indicating strong customer satisfaction and service.

On the downside, it charges a late fee ranging from $18 to $100, which could be burdensome if you miss a payment. Additionally, the lender provides limited information about its loans on the website, which might make it difficult to fully understand the terms and conditions before applying.