Best Personal Loans in San Francisco, CA

The Police Credit Union is the best personal loan lender in San Francisco, California, with a MoneyGeek score of 96 out of 100. Established in 1953, it is federally insured by the National Credit Union Administration (NCUA). Borrowers benefit from not having a prepayment penalty, meaning you can pay off your loan early without extra charges. Additionally, you don't need membership to apply for a personal loan, though you'll need one to receive funds. However, the borrowing limit is $50,000, which may not suit those seeking larger amounts.

Laurel Road is the best online lender for personal loans in San Francisco, California, with a MoneyGeek score of 94 out of 100. It offers a loan amount range of $5,000 to $45,000 and repayment terms between 36 to 60 months, providing flexibility for borrowers to choose a plan that fits their financial situation. Laurel Road grants a 0.25% reduction in interest for payments made automatically, and it has origination fees. However, it has a high minimum loan amount, which could be a hurdle for those seeking smaller loans. Additionally, missing a payment might result in a stiff late fee of 5% or $28, which is an extra cost borrowers should be mindful of.

San Francisco Federal Credit Union is the runner-up for the best personal loans in San Francisco, CA, with a MoneyGeek score of 95 out of 100. Federally insured by the National Credit Union Administration (NCUA), it has been serving members since 1954. It offers an appealing APR starting at 4.99%, and without an origination fee, each borrower saves right from the start. Additionally, it provides the convenience of same-day funding. However, its borrowing limit caps at $50,000, which could be a restriction if you need more substantial financing. Also, the lack of disclosed rate discounts on its website might limit your ability to find potential savings.

Redwood Credit Union is a suitable choice for personal loans in San Francisco, California, with a MoneyGeek score of 94 out of 100. Federally insured by the National Credit Union Administration (NCUA), it has been serving members since 1950. It offers an APR as low as 8.79%, which can be beneficial for minimizing interest costs, and there is no annual fee, making the loans more budget-friendly. The borrowing limit is $50,000, which may not be adequate for those in need of larger loans, and the lack of prequalification options on its website could make it challenging to compare offers effectively.