Best Personal Loans in Columbus, OH

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Updated: November 21, 2024

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Kemba Credit Union stands out as the best personal loan lender in Columbus, Ohio, with a MoneyGeek score of 95 out of 100 due to its quality service, flexible repayment terms, and credibility and transparency about its loan terms and process. Laurel Road is the best lender for online personal loans with a MoneyGeek score of 93 out of 100, offering strong customer service, a quick application and approval process, and transparency about its loan terms and process.

We prioritized local lenders and scored them based on factors like interest rates, loan terms, loan application process and speed of loan funding to gather our best city recommendations. If you're looking for national lenders, we compiled our top picks in the best personal loans in Ohio.

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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Our overall analysis was completed in August 2024. Here we considered banks and credit unions with brick-and-mortar locations in Columbus, Ohio. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Columbus, OH

Company logo for Kemba Credit Union
Kemba Credit Union
MoneyGeek Score95
APR RangeFrom 10.16%
Loan Amount RangeFrom $500
Repayment Terms6 to 60 months
Time to Receive FundsSame Day
Overview

Kemba Credit Union stands as the best personal loan lender in Columbus, Ohio, with a MoneyGeek score of 95 out of 100. It offers several perks like rate discounts for qualified borrowers and same-day funding, making it a convenient choice for many looking for quick and affordable loans.

Best Online Personal Loan in Columbus, OH

Company logo for Laurel Road
Laurel Road
MoneyGeek Score93
APR Range9.49% to 24.50%
Loan Amount Range$5,000 to $45,000
Repayment Terms36 to 60 months
Time to Receive FundsWithin 7 Days
Overview

Laurel Road is the best online lender for personal loans in Columbus, Ohio, with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000 with repayment terms of 36 to 60 months. Customers can expect to receive funds within seven days.

Calculate Your Monthly Payment in Columbus, OH

The median annual household income in Columbus, Ohio in 2022 is $61,727, according to the United States Census Bureau. Regardless of whether your income is above or below this median value, what truly matters is your ability to afford the monthly loan payments. Use our personal loan calculator to estimate your monthly loan payments and the total cost of the loan by entering the loan amount, rate and terms.

For example, if you take out a $10,000 personal loan with a 10% interest rate and three-year repayment terms, your monthly payments will be around $323, totaling $3,876 per year. This represents about 6% of the median annual household income in Columbus, Ohio.

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Updated: Nov 21, 2024

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Runner-Up for Best Personal Loan in Columbus, OH

Company logo for BMI Federal Credit Union
BMI Federal Credit Union
MoneyGeek Score94
APR RangeFrom 8.99%
Loan Amount RangeUndisclosed
Repayment TermsUndisclosed
Time to Receive FundsUndisclosed
Overview

BMI Federal Credit Union is the runner-up for the best personal loans in Columbus, Ohio, with a MoneyGeek score of 94 out of 100. It offers no application fees and is federally insured by the NCUA, making it an appealing choice for secure and cost-effective borrowing.

Other Options for Personal Loans in Columbus, OH

Company logo for CME Federal Credit Union
CME Federal Credit Union
MoneyGeek Score93
APR Range11.50% to 17.99%
Loan Amount RangeUndisclosed
Repayment TermsUp to 72 months
Time to Receive FundsUndisclosed
Overview

CME Federal Credit Union is a solid choice for personal loans in Columbus, Ohio, receiving a MoneyGeek score of 93 out of 100. It offers federally insured loans backed by the NCUA and has a high BBB rating of A+, which instills confidence among potential borrowers.

Company logo for Wright-Patt Credit Union
Wright-Patt Credit Union
MoneyGeek Score92
APR Range11.99% to 18.00%
Loan Amount Range$500 to $50,000
Repayment TermsUp to 60 Months
Time to Receive FundsUndisclosed
Overview

Wright-Patt Credit Union is another good choice for personal loans in Columbus, Ohio, with a MoneyGeek score of 92 out of 100. It offers no prepayment penalty, allowing borrowers to pay off their loans early without additional costs, and no origination fee, which means no extra charges when taking out a loan.

National Lenders With Physical Locations in Columbus, OH

In Columbus, Ohio, borrowers searching for the best personal loans and who appreciate the face-to-face interaction provided by a national lender have several choices. The lenders in the area include Fifth Third Bank, PNC, U.S. Bank, OneMain Financial and KeyBank, all offering a variety of loan products that cater to different needs and financial circumstances. These institutions have local branches in Columbus where clients can get personalized service and support for their loan applications and other banking needs.

Fifth Third Bank8.99% to 21.74%$2,000 to $50,00012 to 60 months
OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
PNCUndisclosed$1,000 to $35,0006 to 60 months
U.S. Bank8.74% to 24.99%$1,000 to $50,00012 to 84 months

What to Do if You Can't Get a Personal Loan in Columbus, OH

Your personal loan application in Columbus, Ohio can get denied due to various reasons, like a low credit score, negative financial history, or an unfavorable debt-to-income ratio. If this happens, there are some steps you can take to navigate this setback.

  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. Review the reasons to improve your weak areas and prevent another loan application denial in the future.

  2. 2
    Modify your loan terms

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

  3. 3
    Look for another lender

    Different lenders have varying eligibility criteria for personal loan approval. Shop around and consider factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service to find the best lender for your particular needs and circumstances.

  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 better manage your credit card debt and develop your budget. You can get credit counseling services from the Department of Justice's list of approved credit counseling agencies. The National Foundation for Credit Counseling can be another option.

FAQ About Personal Loans in Columbus, OH

We addressed common queries regarding top personal loans in Columbus, Ohio, offering clarity to assist your decision-making process.

What is the best overall personal loan lender in Columbus, Ohio?
What are personal loans used for in Columbus, Ohio?
What are the interest rates on personal loans in Columbus, Ohio?
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 Columbus, Ohio?
What are the best low-interest personal loans in Columbus, Ohio?
What is an installment loan? Is there a difference between personal loans and installment loans in Columbus, Ohio?
Is there a difference between credit union loans and bank loans in Columbus, Ohio?

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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