Best Personal Loans in Peoria, IL

When looking for the best personal loan lender in Peoria, Illinois, Peoria Postal Employees Credit Union stands out with a MoneyGeek Score of 95 out of 100. Peoria Postal Employees Credit Union, which was founded in 1928, is federally insured by the National Credit Union Administration (NCUA). It offers several beneficial features for borrowers.

One highlight is its federal insurance by the NCUA, ensuring your financial security and trust. Additionally, you can benefit from an APR as low as 8.99%, which makes borrowing more affordable. However, little information about its loan offerings is provided on the website, which can make researching more challenging. Also, there is no disclosed loan amount range or time to receive funds, requiring potential borrowers to reach out directly for complete details.

Laurel Road is the best online lender for personal loans in Peoria, Illinois, with a MoneyGeek score of 94 out of 100. Its offerings include personal loans ranging from $5,000 to $45,000 and repayment terms of three to five years. When considering Laurel Road, borrowers can appreciate the 0.25% interest rate discount for automatic payments and the absence of origination fees which can lower the overall cost of the loan.

However, the initial loan amount may be higher than what some borrowers are seeking, and a late fee of 5% or $28 is applied for missed payments, which could add to the cost for those who may have trouble making timely payments.

Cooperative Choice Network Credit Union is recognized as the runner-up for the best personal loans in Peoria, Illinois, with a MoneyGeek Score of 95 out of 100. Cooperative Choice Network Credit Union is Illinois's first network credit union, federally insured by the National Credit Union Administration (NCUA). To better serve borrowers, it provides a digital wallet, allowing for easier management of finances on the go.

Access to a loan calculator further aids potential borrowers in assessing their financial responsibilities. However, there’s no option to prequalify, which could make it challenging to gauge potential loan offers without a firm application. The lender doesn't disclose specific loan eligibility requirements, potentially leaving some uncertainty for prospective applicants.

Peoria Bell Credit Union stands out as a suitable choice for personal loans in Peoria, Illinois, receiving a MoneyGeek score of 93 out of 100. Established in 1936, Peoria Bell Credit Union is federally insured by the National Credit Union Administration (NCUA). It offers online banking, providing accessible and convenient ways for you to manage your finances.

Additionally, the credit union offers loan protection, ensuring some level of security for your borrowing needs. However, borrowers should be aware that there is a skip-a-payment fee of $35, which could affect your budgeting plans. Additionally, there's no option to prequalify online, which might be inconvenient if you prefer to check your loan eligibility without affecting your credit score. Overall, when considering its services, you should weigh these aspects to make informed borrowing decisions.

Citizens Equity First Credit Union is a worthwhile option for personal loans in Peoria, Illinois, earning a MoneyGeek score of 93 out of 100. Citizens Equity First Credit Union is federally insured by the National Credit Union Administration (NCUA). At this lender, consider that it offers credit, life and disability insurance, as well as online banking. The minimum loan amount is $1,000, and there is limited information about the loans on its website.