Best Personal Loans in Murfreesboro, TN

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Updated: October 29, 2024

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Redstone Federal Credit Union is the best personal loan lender in Murfreesboro, Tennessee, with a MoneyGeek score of 98 out of 100, providing quality service, competitive interest rates, and quick application and approval. Laurel Road is the best lender for online personal loans, earning a MoneyGeek score of 93 out of 100, excelling in strong customer service, a quick application and approval process, and being credible and transparent 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 best personal loans in Tennessee.

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 Murfreesboro, Tennessee. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Murfreesboro, TN

Company logo for Redstone Federal Credit Union
Redstone Federal Credit Union
MoneyGeek Score98
APR RangeFrom 10.99%
Loan Amount RangeUp to $50,000
Repayment TermsUp to 72 months
Time to Receive FundsUndisclosed
Overview

Redstone Federal Credit Union is the best personal loan lender in Murfreesboro, Tennessee, with a MoneyGeek score of 98 out of 100. With federal insurance by the NCUA, this lender offers reliability, and the absence of an origination fee makes its loans more attractive.

Best Online Personal Loan in Murfreesboro, TN

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 Murfreesboro, Tennessee with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000 with repayment periods of 36 to 60 months.

Calculate Your Monthly Payment in Murfreesboro, TN

The United States Census Bureau reported that the median annual household income in Murfreesboro, Tennessee in 2022 was $70,160. Regardless of whether your actual income is above or below this median value, what 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 calculate the monthly loan payments for a $10,000 personal loan with a 10% interest rate and a three-year repayment term, the result comes to $323 per month and $3,876 per year. This amounts to 6% of the median annual household income in Murfreesboro.

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Estimate the monthly payment for your loan.

Updated: Dec 21, 2024

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Runner-Up for Best Personal Loan in Murfreesboro, TN

Company logo for Cornerstone Financial Credit Union
Cornerstone Financial Credit Union
MoneyGeek Score92
APR RangeFrom 13%
Loan Amount RangeUp to $75,000
Repayment Terms36 to 60 months
Time to Receive FundsUndisclosed
Overview

Cornerstone Financial Credit Union ranks as the runner-up for the best personal loans in Murfreesboro, Tennessee, with a MoneyGeek score of 92 out of 100. As a lender, it allows you to borrow up to $75,000, providing substantial flexibility for various financial needs.

Other Options for Personal Loans in Murfreesboro, TN

Company logo for Ascend Federal Credit Union
Ascend Federal Credit Union
MoneyGeek Score92
APR Range14.10% to 18.00%
Loan Amount RangeUndisclosed
Repayment Terms3 to 60 months
Time to Receive FundsUndisclosed
Overview

For those seeking personal loans in Murfreesboro, Tennessee, Ascend Federal Credit Union remains a reliable choice with a MoneyGeek score of 92 out of 100. It stands out because it is federally insured by the NCUA, ensuring a level of security for borrowers.

National Lenders With Physical Locations in Murfreesboro, TN

If you're in Murfreesboro, Tennessee, and searching for the best personal loans with the option of in-person service, you have a selection of national lenders to consider. You can explore offerings from Truist, Fifth Third Bank, PNC, U.S. Bank and OneMain Financial, all of which have a presence in the city. Each lender provides different advantages and loan products that cater to various needs, so borrowers can find a loan that matches their financial situation.

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
Truist8.74% to 17.39%Starting from $3,50024 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 Murfreesboro, TN

Your personal loan application in Murfreesboro, Tennessee 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 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. 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. 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 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 Murfreesboro, TN

We addressed common questions on the best personal loans in Murfreesboro, Tennessee to offer valuable insight for informed decision-making.

What is the best overall personal loan lender in Murfreesboro, Tennessee?

What are personal loans used for in Murfreesboro, Tennessee?

What are the interest rates on personal loans in Murfreesboro, Tennessee?

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 Murfreesboro, Tennessee?

What are the best low-interest personal loans in Murfreesboro, Tennessee?

What is an installment loan? Is there a difference between personal loans and installment loans in Murfreesboro, Tennessee?

Is there a difference between credit union loans and bank loans in Murfreesboro, Tennessee?

About Zachary Romeo, CBCA

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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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