Best Personal Loans in Columbia, SC

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Updated: October 29, 2024

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SC State Federal Credit Union is the best personal loan lender in Columbia, South Carolina, with a MoneyGeek score of 97 out of 100, offering flexible repayment terms, competitive interest rates and a quick application and approval process.

For online personal loans, Laurel Road stands out with a MoneyGeek score of 93 out of 100, providing strong customer service, a quick application and approval process, and credibility 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 South Carolina.

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 Columbia, South Carolina. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Columbia, SC

Company logo for SC State Federal Credit Union
SC State Federal Credit Union
MoneyGeek Score97
APR Range11.74% to 17.99%
Loan Amount RangeFrom $200
Repayment TermsUndisclosed
Time to Receive FundsUndisclosed
Overview

SC State Federal Credit Union is the best personal loan lender in Columbia, South Carolina, with a MoneyGeek score of 97 out of 100. The credit union is federally insured by the NCUA, ensuring the safety of your funds.

Best Online Personal Loan in Columbia, SC

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 Columbia, South Carolina, with a MoneyGeek score of 93 out of 100. Its personal loan offerings range from $5,000 to $45,000, and borrowers can choose repayment terms between 36 to 60 months.

Calculate Your Monthly Payment in Columbia, SC

The median annual household income in Columbia, South Carolina, in 2022 was $56,175, according to the United States Census Bureau. Regardless of whether your actual income is above or below the median value, your ability to afford monthly loan payments is what matters. 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. personal loan calculator.

For example, if you take out a $10,000 personal loan with a 10% interest rate and three years in repayment terms, your monthly payment would be $323 per month and $3,876 per year, which is 7% of the median annual household income in Columbia, South Carolina.

Personal Loan Calculator

Estimate the monthly payment for your loan.

Updated: Nov 21, 2024

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Runner-Up for Best Personal Loan in Columbia, SC

Company logo for AllSouth Federal Credit Union
AllSouth Federal Credit Union
MoneyGeek Score97
APR Range10.90% to 17.90%
Loan Amount RangeUp to $15,000
Repayment Terms6 to 60 months
Time to Receive FundsUndisclosed
Overview

AllSouth Federal Credit Union ranks as the runner-up for the best personal loans in Columbia, South Carolina, with a MoneyGeek score of 97 out of 100. It is federally insured by the NCUA.

Other Options for Personal Loans in Columbia, SC

Company logo for Self-Help Credit Union
Self-Help Credit Union
MoneyGeek Score87
APR Range13.25% to 16.00%
Loan Amount RangeUndisclosed
Repayment TermsUp to 48 month
Time to Receive FundsUndisclosed
Overview

Self-Help Credit Union is a suitable choice for personal loans in Columbia, South Carolina, with a MoneyGeek score of 87 out of 100. It offers the security of being federally insured by the NCUA, ensuring your funds are protected.

National Lenders With Physical Locations in Columbia, SC

In Columbia, South Carolina, borrowers seeking the best personal loans who value face-to-face service from a national lender can select from multiple providers within the city. Borrowers have the choice of working with Truist, Wells Fargo, PNC, TD Bank\ and OneMain Financial, which all have local branches dedicated to assisting with personal loan needs.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
PNCUndisclosed$1,000 to $35,0006 to 60 months
TD Bank8.99% to 23.99%$2,000 to $50,00036 to 60 months
Truist8.74% to 17.39%Starting from $3,50024 to 60 months
Wells Fargo7.49% to 23.24%$3,000 to $100,00012 to 84 months

What to Do if You Can't Get a Personal Loan in Columbia, SC

Your loan application in Columbia, South Carolina, 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, you can take steps 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. Shopping around and considering factors such as minimum credit score requirements, interest rates, loan terms, additional fees and customer service helps you 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. You may consider a credit counseling agency to better manage your credit card debt and develop your budget. You can get credit counseling services from the South Carolina Department of Consumer Affair's resources on credit counseling. The Department of Justice's list of approved credit counseling agencies can be another option.

FAQ About Personal Loans in Columbia, SC

We addressed common questions regarding top personal loans in Columbia, South Carolina, offering insights to assist in making informed decisions.

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

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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