Best Personal Loans in Nebraska for 2024

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Updated: October 29, 2024

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If you're looking for a personal loan in Nebraska, your credit score and financial history are important. MoneyGeek recommends First Tech, with a top score of 98, and PenFed at 96 because they offer great customer service, fair rates and clear loans.

Nebraskans have an average credit score of 731, according to Experian data from 2023. This is good news — it means the average borrower might get better rate and term options. But, getting a loan isn’t a sure thing, and people with lower scores might find it tougher to get good rates.

MoneyGeek picked these top personal loan lenders after looking at service, annual percentage rate (APR) ranges, terms and how clear and honest they are about their loans.

MoneyGeek Logo IconBest PersonalLoan LendersNebraska
2024

Best Personal Loan Lenders in Nebraska

Best Overall - First Tech
Runner-Up - PenFed
Best for Bad Credit - Happy Money
Best for Debt Consolidation - Alliant Credit Union

MoneyGeek's personal loans scoring system is designed to give a comprehensive overview of each lender’s performance in key areas that matter to borrowers. 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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Our analysis was completed in March 2024 and considers banks and lenders that are licensed to do business in Nebraska. We also consider financial companies who partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Personal Loan Lender in Nebraska

  • First Tech
    • 98MoneyGeek Score
    • 8.94% to 18.00%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 6 to 84 monthsRepayment Terms

    MoneyGeek's pick for the best personal loan lender in Nebraska is First Tech, scoring 98 out of 100. With an APR range from 8.94% to 18.00%, it undercuts the higher ends of many competitors, hinting at cost-effectiveness for borrowers. Its repayment terms, spanning up to 84 months, offer flexibility similar to the best in our data set. The lender particularly excels in offering competitive rates and minimal fees, alongside an efficient application process. These features, combined with excellent customer service and educational resources, solidify its standing above others in MoneyGeek's comprehensive analysis.

    Pros

    • Insured by the National Credit Union Administration (NCUA)
    • Offers apps to help with budgeting and debt
    • Provides granular APR data for a variety of loan terms

    Cons

    • Little available information about credit score requirements
    • Need to be a member to apply
    • Minimal details on the loan application process
    First Tech

    Runner-Up for Best Personal Loan Lender in Nebraska

  • PenFed
    • 96MoneyGeek Score
    • 7.99% to 17.99%APR Range
    • UndisclosedMinimum Credit Score
    • Up to $50,000Loan Amount Range
    • Up to 60 monthsRepayment Terms

    MoneyGeek recommends PenFed as the runner-up for best personal loan lender in Nebraska, with a MoneyGeek score of 96. PenFed offers personal loans with competitive APRs ranging from 7.99% to 17.99%, with the lower end being especially attractive compared with others. Its loan products are appreciated for their high level of repayment flexibility and comparatively generous loan terms.

    Pros

    • Offers some of the lowest APRs available
    • No early repayment penalty
    • Insured by the National Credit Union Administration (NCUA)

    Cons

    • No information provided about credit score requirements
    • $50 minimum monthly loan payment
    PenFed
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UNDERSTAND YOUR DEBT-TO-INCOME RATIO

The amount of monthly debt payments you have relative to your monthly gross income is called your debt-to-income ratio, or DTI. Most lenders prefer to see a debt-to-income ratio of 35% to 40% or below for secured loans, and 40% to 45% or below for unsecured personal loans.

Debt includes items like mortgages, car loans, credit cards and existing personal loans. A debt-to-income ratio above 50% is considered high and so approval may be more difficult, or your loan may come with higher interest rates.

— Alvin Yam, CFP®

Calculate Your Monthly Nebraska Loan Payment

According to our analysis, lenders in Nebraska offer personal loan products averaging about 52 months, which can vary based on the borrower's credit profile and the financial institution. Explore your loan options with our personal loan calculator, a simple tool to calculate monthly payments and total loan costs based on amount, interest rate and term length, helping you make informed decisions before committing.

Personal Loan Calculator

Estimate the monthly payment for your loan.

Updated: Nov 21, 2024

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    Best Personal Loan Lender in Nebraska for Bad Credit

  • Happy Money
    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan provider for borrowers with low credit in Nebraska, with a score of 94 out of 100. Despite not being a traditional lender, Happy Money offers competitive rates of 11.72% to 17.99%, with its APR among the more favorable compared with others reviewed by MoneyGeek. The minimum credit score required by Happy Money is 640. The lender stands out for its transparency and the efficiency of its approval process, ensuring consumers have a clear and streamlined path to securing a loan.

    Pros

    • Works with 10 federally insured lenders to originate installment loans
    • Transparent eligibility requirements, including credit score minimum
    • No application fee

    Cons

    • Longer wait time for loan approval than competitors
    • Partner lenders charge an origination fee
    Happy Money

How does MoneyGeek score lenders for bad credit loans?


    Best Personal Loan Lender in Nebraska for Debt Consolidation

  • Alliant Credit Union
    • 96MoneyGeek Score
    • 10.99% to 13.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    Alliant Credit Union is MoneyGeek's pick for the best in Nebraska for debt consolidation, scoring 96 out of 100. The Credit Union is an online-only bank; membership and good standing for 90 days are prerequisites for personal loan eligibility. It offers competitive APRs from 10.99% to 13.99%, which are lower than many lenders analyzed. It stands out for reasonable interest rates and fees ensuring competitive costs for borrowers.

    Pros

    • Among the highest loan limits available in our analysis
    • Insured by the National Credit Union Administration (NCUA)
    • No prepayment penalties

    Cons

    • An online-only credit union, no physical branches
    • Have to be a member for 90 days to apply
    Alliant Credit Union

How does MoneyGeek score lenders for debt consolidation?

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IS INTEREST ON PERSONAL LOANS TAX DEDUCTIBLE?

Interest on personal loans is generally not tax deductible because personal loans are considered consumer debt. But there are some exceptions where the interest may qualify:

  • When consolidating high-interest qualifying debts like credit cards or student loans, if used to pay off those debts.
  • If used for home improvements that increase the home's value.
  • If the loan proceeds can be demonstrated as used exclusively for business expenses or starting a business.
  • In some cases, if the loan is used for investment purposes related to income-generating assets.

— Alvin Yam, CFP®

Impact of Credit Score on Loan Repayment in Nebraska

When considering a personal loan in Nebraska, be aware of key factors such as your credit report, income and debt-to-income ratio, which influence your ability to secure favorable loan terms. MoneyGeek's curation of top personal loan lenders in the state weighs their reputation, transparency, interest rate (APR) ranges, minimum credit score requirements and flexibility in loan terms.

Your credit score significantly impacts the loan terms you may receive; improving it could lead to better interest rates and lower costs in the long term. Use the table below to see how different credit scores can affect your monthly loan payments.

Data filtered by:Results filtered by:
Credit Band:
Credit Band:690 to 719
Loan Amount:
Loan Amount:$2,000
$3486
$18012
$9724
$6936
$5548
$4760
$4272
$3884

This table approximates monthly payments, calculated using median personal loan interest rates typical for various credit score ranges. These numbers are median estimates provided for general guidance. They should not be taken as precise rates for everyone in each credit score category. Actual interest rates can differ due to lender-specific policies, prevailing market conditions and unique borrower profiles.

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BEST PERSONAL LOANS IN CITIES IN NEBRASKA

Pros and Cons of Personal Loans in Nebraska

Personal loans can streamline your finances by consolidating high-interest debt into a single payment, often featuring lower rates and quick fund access to fulfill diverse needs. Personal loans do offer flexibility and potential credit-building opportunities, but be cautious of potential drawbacks, such as origination fees and the risk of asset loss with a secured personal loan. Review the pros and cons of personal loans before you apply.

The pros and cons of personal loans

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  • Competitive interest rates for eligible applicants
  • Consolidates multiple debts into one payment
  • Fast funding for immediate expenses
  • Enhances credit mix when managed properly
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  • Higher overall cost due to origination fees
  • Prepayment penalties discouraging early loan payoff
  • Risk of losing assets with secured loans
  • Encouragement of excessive debt through easy approval systems
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MORE ON NEBRASKA LOANS

FAQ About Nebraska Personal Loans

If you have questions about personal loans, MoneyGeek has answers to help you make an informed decision before applying.

What is the best lender in Nebraska for personal loans?
Where is the best place to get a personal loan in Nebraska?
Who has the best personal loan interest rates in Nebraska?
What can I use a personal loan for in Nebraska?
What are some personal loan red flags to look out for?
Do lenders consider income level when applying for a personal loan?

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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