Best Personal Loans in Orlando, FL

Addition Financial is the best personal loan lender in Orlando, Florida, with a MoneyGeek score of 99 out of 100. It is federally insured by the NCUA, providing extra security. Borrowers can take out loans as low as $500, making it accessible for those needing smaller amounts. However, the lender imposes a $30 to $85 loan processing fee, which can add to the cost of borrowing. A $15 late payment fee also applies, which can be a burden if you miss a payment.

Laurel Road is the best online lender for personal loans in Orlando, Florida, with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000 and flexible repayment terms from 36 to 60 months. It provides a 0.25% autopay discount. It doesn't charge origination fees, which reduces the overall cost of the loan. However, the lender does require a high minimum loan amount, which may not suit those needing smaller loans. A late fee of 5% or $28 is also applied for missed payments, so timely repayments are necessary to avoid extra charges.

MIDFLORIDA Credit Union is the runner-up for the best personal loans in Orlando, Florida, receiving a MoneyGeek score of 89 out of 100. It is federally insured by the NCUA for added financial security. It offers flexibility in its prequalification process, allowing for an initial assessment without impacting credit scores. However, this lender does not disclose its loan eligibility requirements, which may lead to uncertainty regarding qualification. Additionally, the lack of rate discounts on its website could concern those looking for lower interest rates.

Orlando Credit Union is a suitable choice for personal loans in Orlando, Florida, with a MoneyGeek Score of 88 out of 100. It is federally insured by the NCUA, which provides an added layer of security for your investment. It has six physical branches in Orlando, Florida, offering convenience for local residents. On the other hand, it does not disclose any rate discounts, leaving borrowers in the dark about potential savings. Additionally, there is no prequalification option, making it harder to determine eligibility before applying.

McCoy Federal Credit Union is another good choice for personal loans in Orlando, Florida, with a MoneyGeek score of 87 out of 100. It is federally insured by the NCUA, providing borrowers with a sense of security. Additionally, it has more than five physical branches in Orlando, Florida, enhancing accessibility. However, membership is needed to apply, which may limit immediate availability for some potential borrowers. There is also no prequalification option, making it more challenging to gauge loan terms and approval chances upfront.