Best Personal Loans in Nashville, TN

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Updated: October 16, 2024

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Enbright Credit Union, the best personal loan lender in Nashville, Tennessee, achieved a MoneyGeek score of 93 out of 100 by providing quality service, competitive interest rates and flexible repayment terms. Laurel Road earned the title of 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 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 Nashville, Tennessee. We also looked at online-only lenders licensed to do business in the state.

325Lenders Analyzed Nationally

Overall Best Personal Loan in Nashville, TN

Company logo for US Community Credit Union
US Community Credit Union
MoneyGeek Score93
APR RangeFrom 9.95%
Loan Amount RangeUndisclosed
Repayment TermsUndisclosed
Time to Receive FundsUndisclosed
Overview

Enbright Credit Union is the best personal loan lender in Nashville, Tennessee, with a MoneyGeek score of 93 out of 100. Its federally insured status by the NCUA guarantees a level of security for borrowers.

Best Online Personal Loan in Nashville, 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 Nashville, Tennessee, with a MoneyGeek score of 93 out of 100. Its personal loan offerings include a loan amount range of $5,000 to $45,000 and repayment terms of 36 to 60 months.

Calculate Your Monthly Payment in Nashville, TN

According to the United States Census Bureau, the median annual household income in Nashville, Tennessee in 2022 was $71,767. Regardless of whether your actual income is above or below the 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 take out a $10,000 personal loan with a 10% interest rate and three years in repayment terms, the monthly loan payments would be approximately $323, totaling $3,876 per year. This payment amounts to about 5% of Nashville's median annual household income.

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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 Nashville, TN

Company logo for TEN Credit Union
TEN Credit Union
MoneyGeek Score93
APR Range11.49% to 18%
Loan Amount RangeUndisclosed
Repayment TermsFrom 24 months
Time to Receive FundsUndisclosed
Overview

TEN Credit Union is the runner-up for the best personal loans in Nashville, Tennessee, with a MoneyGeek score of 93 out of 100. It offers several appealing features for borrowers, including being federally insured by the NCUA.

Company logo for St. Thomas Credit Union
St. Thomas Credit Union
MoneyGeek Score92
APR Range10.50% to 18.00%
Loan Amount RangeUndisclosed
Repayment Terms6 to 48 months
Time to Receive FundsUndisclosed
Overview

Nashville Post Office Credit Union in Nashville, Tennessee, appears as another good choice for personal loans, receiving a MoneyGeek score of 90 out of 100. It is federally insured by the NCUA, providing an extra layer of security.

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BEST PERSONAL LOANS IN OTHER CITIES IN TENNESSEE

National Lenders With Physical Locations in Nashville, TN

If you're on the hunt for the best personal loans in Nashville, Tennessee, and you favor the face-to-face experience provided by a national lender, you have multiple options available in the city. Nashville residents can look into Truist, Fifth Third Bank, Wells Fargo, PNC and U.S. Bank for their personal loan needs, as these lenders offer services within the local area. Each bank has its own set of terms and loan products, so comparing them thoroughly can help you find the right fit for your financial situation.

OneMain Financial18.00% to 35.99%$1,500 to $20,00024 to 60 months
U.S. Bank8.74% to 24.99%$1,000 to $50,00012 to 84 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 Nashville, TN

Your personal loan application in Nashville, 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 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 these reasons to identify 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. It is beneficial to 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 Nashville Financial Empowerment Center. Department of Justice's list of approved credit counseling agencies can be another option.

FAQ About Personal Loans in Nashville, TN

We addressed common questions about the top personal loans in Nashville, Tennessee, offering clarity to assist you in making informed choices.

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

What are personal loans used for in Nashville, Tennessee?

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

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

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

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

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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