Best Personal Loans in Nashville, TN

Name: Best Personal Loans in Nashville, TN
Item: Best Personal Loans in Nashville, TN
Author: Zachary Romeo, CBCA

Enbright Credit Union offers the best personal loans in Nashville, Tennessee, with a MoneyGeek score of 93 out of 100. It excels in customer service, interest rates and overall reputation.

By Zachary Romeo, CBCA

Reviewed by Alvin Yam, CFP

Edited by Lukas Velunta

Updated: October 16, 2024

Advertising & Editorial Disclosure

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.

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

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

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.

Personal Loan Calculator

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Updated: Nov 21, 2024

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Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.

Runner-Up for Best Personal Loan in Nashville, TN

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.

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.

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 Financial	18.00% to 35.99%	$1,500 to $20,000	24 to 60 months
U.S. Bank	8.74% to 24.99%	$1,000 to $50,000	12 to 84 months
Wells Fargo	7.49% to 23.24%	$3,000 to $100,000	12 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
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
Modify your loan terms
You can try asking your lender if you can adjust the loan amount or repayment terms to get approved.
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
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?

TEN Credit Union stands out as the best overall personal loan lender in Nashville, Tennessee, offering loans with an APR range of 11.49% to 18% and flexible repayment terms starting from 24 months.

What are personal loans used for in Nashville, Tennessee?

Personal loans can generally be used for anything you need, such as home improvements, medical expenses, or vacation expenses. Some lenders may put restrictions on fund use — typically, personal loans cannot be used for gambling or illegal activities.

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

Based on the lenders included in our database, personal loans in Nashville, Tennessee have APRs ranging from 9.95% to 18%. It's beneficial to always compare personal loan rates to find the best terms for your situation.

What are the benefits and drawbacks of personal loans?

Personal loans offer lower interest rates than credit cards for qualified borrowers, they can help in debt consolidation, and they provide quick access to funds. However, personal loans can also include origination fees and imposing penalties for early repayment, which could be drawbacks to some borrowers.

What are some personal loan red flags to look out for?

Personal loans always come with risk; take care with your ability to afford new debt. When considering personal loans, watch out for red flags such as extremely high APRs, a lack of transparency and a high number of poor consumer reviews.

How to apply for a personal loan online?

Many lenders now offer online applications for personal loans that are straightforward and quick to complete on their respective websites.

Can I get a personal loan with bad credit in Nashville, Tennessee?

While it may be challenging, it's possible to get a personal loan with bad credit. Check out our recommendations for the best loans for bad credit and best loans for bad credit in Tennessee to explore your options.

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

We have compiled a list to help you explore some of the best low-interest personal loans available.

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

Personal loans are a type of installment loans, which simply suggests they're paid back over time with a set number of scheduled payments.

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

Credit union loans may offer lower interest rates and member benefits, while bank loans could require credit checks or a minimum balance in a bank account or checking account to apply for a loan.

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About Zachary Romeo, CBCA

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.

Read Full Bio »

sources

United States Census Bureau. "Nashville City, Tennessee." Accessed October 9, 2024.
U.S. Department of Justice. "Credit Counseling Agencies - Tennessee." Accessed October 9, 2024.
City of Nashville. "Financial Empowerment Center." Accessed October 9, 2024.

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.

Best Personal Loans in Nashville, TN

Overall Best Personal Loan in Nashville, TN

Best Online Personal Loan in Nashville, TN

Calculate Your Monthly Payment in Nashville, TN

Personal Loan Calculator

Runner-Up for Best Personal Loan in Nashville, TN

National Lenders With Physical Locations in Nashville, TN

What to Do if You Can't Get a Personal Loan in Nashville, TN

Find out the reason for the denial

Modify your loan terms

Look for another lender

Explore credit counseling services

FAQ About Personal Loans in Nashville, TN

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