Best Personal Loans in San Jose, CA

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Updated: October 29, 2024

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Meriwest Credit Union has the best personal loans in San Jose, California, with a MoneyGeek score of 97 out of 100. It offers competitive interest rates, a quick application and approval process, and transparency about its loan terms. Laurel Road, scoring 94 out of 100, is the top online personal loan provider due to its strong customer service, broad repayment terms and clear loan terms and process.

MoneyGeek prioritized local lenders and rated them based on interest rates, loan terms, application process and funding speed to create city-specific recommendations. For national lenders, we also reviewed the best personal loans in California.

MoneyGeek analyzed hundreds of lenders based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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We completed our overall analysis in October 2024. Here, we considered banks and credit unions with brick-and-mortar locations in San Jose, California, and online-only lenders licensed in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in San Jose, CA

Company logo for Meriwest Credit Union
Meriwest Credit Union
MoneyGeek Score:
97/ of 100
APR Range10.65% to 15.45%
Loan Amount Range$1,000 to $40,000
Repayment Terms12 to 60 months
Time to Receive FundsUndisclosed
Overview

Meriwest Credit Union is the best personal loan provider in San Jose, California, with a MoneyGeek score of 97 out of 100. Federally insured by the National Credit Union Administration (NCUA) and serving members since 1961, it offers personal loans with a minimum amount of $1,000, making it accessible for those needing smaller loans. With an A+ rating from the Better Business Bureau (BBB), it demonstrates strong customer service.

However, the credit union doesn't disclose any rate discounts on its website. Additionally, late payments (10 days after the due date) incur a fee of $10 or 5% of the amount due, whichever is less.

Best Online Personal Loan in San Jose, CA

Company logo for Laurel Road
Laurel Road
MoneyGeek Score:
94/ of 100
APR Range8.99% to 24.25%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive Funds7 Business Days
Overview

Laurel Road is the best online personal loan provider in San Jose, California, with a MoneyGeek score of 94 out of 100. It offers loans from $5,000 to $45,000 with repayment terms of 36 to 60 months. Borrowers can get a 0.25% discount for autopay and pay no origination fees.

However, its high minimum loan amount may not work for those needing smaller loans. Borrowers should also watch out for the 5% or $28 late fee, which can add up if they miss payments.

Calculate Your Monthly Payment in San Jose, CA

San Jose, California's median annual household income was $133,835 in 2022, according to the United States Census Bureau. Whether your income is higher or lower, ensure you can afford the monthly loan payments. Use our personal loan calculator to estimate your monthly payments and the total cost by entering the loan amount, interest rate and terms.

For example, a $10,000 loan with a 10% interest rate and a three-year term would cost you $323 monthly. That adds up to $3,876 annually — about 3% of the median annual household income in San Jose, CA.

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Estimate the monthly payment for your loan.

Updated: Dec 21, 2024

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Runner-Up for Best Personal Loan in San Jose, CA

Company logo for Santa Clara County Federal Credit Union
Santa Clara County Federal Credit Union
MoneyGeek Score:
97/ of 100
APR Range10.04% to 17.99%
Loan Amount Range$500 to $30,000
Repayment TermsUp to 60 months
Time to Receive FundsUndisclosed
Overview

Santa Clara County Federal Credit Union (SCCFCU) is the runner-up for the best personal loans in San Jose, California, with a MoneyGeek score of 97 out of 100. Federally insured by the NCUA, SCCFCU has served members since 1950. It offers loans starting at $500 for borrowers needing smaller amounts and features a calculator for an amortization schedule, enhancing repayment transparency.

However, the borrowing limit of $30,000 may not suffice for larger needs. The lender doesn't disclose rate discounts that could impact overall loan costs.

Other Options for Personal Loans in San Jose, CA

Company logo for Pacific Postal Credit Union
Pacific Postal Credit Union
MoneyGeek Score:
96/ of 100
MoneyGeek Score96
APR RangeFrom 9.75%
Loan Amount RangeUp to $15,000
Repayment Terms6 to 60 months
Time to Receive FundsUndisclosed
Overview

Pacific Postal Credit Union is a solid option for personal loans in San Jose, California, earning a MoneyGeek score of 96 out of 100. Serving members since 1931 and federally insured by the NCUA, it offers APRs as low as 9.75% and allows joint applications for added flexibility.

However, the borrowing limit is $15,000, and the absence of prequalification may restrict loan planning and comparison for some borrowers.

Company logo for Technology Credit Union
Technology Credit Union
MoneyGeek Score:
95/ of 100
MoneyGeek Score95
APR Range11.49% to 27.49%
Loan Amount Range$1,500 to $50,000
Repayment Terms24 to 72 months
Time to Receive FundsUndisclosed
Overview

Technology Credit Union is a strong choice for personal loans in San Jose, California, with a MoneyGeek score of 95 out of 100. Federally insured by the NCUA since 1960, it has three branches in the city and holds an A+ rating from the Better Business Bureau (BBB).

However, it doesn't disclose eligibility requirements for personal loans, and the borrowing limit of $50,000 may not suit all borrowers.

National Lenders With Physical Locations in San Jose, CA

In San Jose, CA, borrowers seeking the best personal loans who value face-to-face interactions can consider several national lenders with a local presence, including OneMain Financial, U.S. Bank and Wells Fargo.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
U.S. Bank8.74% to 24.99%$1,000 to $50,00012 to 84 months
Wells Fargo7.49% to 24.99%$3,000 to $100,00012 to 84 months

What to Do if You Can't Get a Personal Loan in San Jose, CA

In San Jose, California, your personal loan application might get denied due to reasons like a low credit score, negative financial history or an unfavorable debt-to-income ratio. If this happens, take steps to address the issue.

  1. 1

    Find out the reason for the denial

    Some lenders may deny your loan application due to a poor credit score, high debt-to-income ratio, low income level or errors in your application. Reviewing these reasons can help you improve your weak areas and avoid future rejections.

  2. 2

    Modify your loan terms

    Try asking your lender if you can adjust the loan amount or repayment terms to get approved.

  3. 3

    Look for another lender

    Lenders have different eligibility criteria for personal loan approval. To find the best fit for your needs, shop around and consider factors like minimum credit score requirements, interest rates, loan terms, additional fees and customer service.

  4. 4

    Explore credit counseling services

    Lenders often look at your debt-to-income ratio when evaluating your loan application. Consider a credit counseling agency to manage your credit card debt better and develop your budget. You can get credit counseling services from the Department of Financial Protection and Innovation's published list of nonprofit credit counseling agencies. Another option is the Department of Justice's list of approved credit counseling agencies.

FAQ About Personal Loans in San Jose, CA

We addressed common questions about top personal loans in San Jose, California, offering insights for informed decision-making.

Who is the best overall personal loan lender in San Jose, CA?

What are personal loans used for in San Jose, CA?

What are the interest rates on personal loans in San Jose, CA?

What are the benefits and drawbacks of personal loans?

What are some personal loan red flags to look out for?

How to apply for a personal loan online?

Can I get a personal loan with bad credit in San Jose, CA?

What are the best low-interest personal loans in San Jose, CA?

What is an installment loan? Is there a difference between personal loans and installment loans in San Jose, CA?

Is there a difference between credit union loans and bank loans in San Jose, CA?

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.

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