Best Personal Loans in Round Rock, TX: Top Lenders & Best Picks for You

Updated: November 1, 2024

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WHAT WE’RE GEEKING OUT ON

MoneyGeek's Picks for Best Personal Loan Lenders in Round Rock, TX

When ranking the best personal loan companies in Round Rock, MoneyGeek evaluated more than 30 data points. We assessed factors like minimum credit score, income requirements, disbursement time, fees, APR ranges, repayment terms and service quality.

Based on our analysis, Truist is the best personal loan lender in Round Rock. However, the most suitable lender varies per borrower profile. Upstart, for instance, is a stellar option for individuals with bad credit, whereas Upgrade is ideal for those who need to consolidate debt.

Best Overall Personal Loan Lender in Round Rock: Truist


  • Truist
    • 8.14% to 18.99%APR Range
    • NoneMinimum Credit Score
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Truist is MoneyGeek’s top personal loan lender in Round Rock and offers multiple loan products. The company was launched after the BB&T and SunTrust Banks merger in 2019.

    Truist has earned an A+ rating from the Better Business Bureau (BBB), which means that the lender actively resolves customer concerns. Potential borrowers will be pleased to learn that the company has no credit score requirements and can disburse funds on the next day. Please note that repayment terms range from six to 60 months.

    Truist loan amounts range from $3,500 to $50,000. If the loan amount maximum isn’t enough to meet your needs, you’ll want to explore other options.

    Pros

    • No origination fees
    • No prepayment penalty
    • Quick fund release
    • No minimum credit score
    • Offers a mobile app

    Cons

    • Co-signers not allowed
    • Restricts certain funding uses
    • Maximum loan amount of $50,000
    Truist

Best Personal Loan Lender for Bad Credit in Round Rock: Upstart


  • Upstart
    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Borrowers with bad credit might find Upstart an ideal personal loan lender in Round Rock, especially with its minimum credit score requirement of 300. As an online lending platform, Upstart has originated over $30.5 billion in loans since 2012.

    Upstart offers loan amounts between $1,000 and $50,000. Please note that your financial background influences your rate. Upstart is a great option for those who urgently need funds, as the lender can release finances the next day.

    While Upstart is an excellent option, there might be better fits for some. For example, Upstart doesn’t offer a mobile app, has no autopay discount and can charge a high APR.

    Pros

    • No prepayment penalty fee
    • Low starting APR
    • Joint loans available
    • 300 credit score minimum
    • Quick funding

    Cons

    • No autopay discount
    • No mobile app
    • Potentially high APR
    Upstart

Best Personal Loan Lender for Good Credit in Round Rock: SoFi


  • SoFi
    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    SoFi is a solid personal loan lender in Round Rock, especially for those with good to excellent credit scores. The lender has financed over $50 billion in loans since its 2011 launch.

    Borrowers can take out loans ranging from $5,000 to $100,000. Keep in mind that the loan amount is based on the lender’s discretion. Additionally, borrowers can pay off their loans within 12 to 60 months.

    If a borrower’s offer is accepted before 7 p.m. Eastern Time, same-day disbursement is possible. Otherwise, funding is usually released within the next few days.

    Pros


    Cons

    • Borrowers with new or no credit can’t apply
    • Requires 680 credit score
    • Requires a debt-to-income ratio of 43% or below
    SoFi

Best Personal Loan Lender for Debt Consolidation in Round Rock: Upgrade


  • Upgrade
    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    Upgrade is a top-performing lender for borrowers that need to consolidate debt.

    Upgrade requires payment within 36 to 60 months, although borrowers have the option to prepay with no extra fee. MoneyGeek also found that Upgrade received an A+ rating from the BBB.

    To qualify, borrowers must have a credit score of 560 or above. Please note that Upgrade only disburses loans ranging from $1,000 to $50,000. If these terms don’t match your financial needs, consider another lender.

    Pros

    • Pays third-party creditors directly
    • Apply with a joint loan
    • Disburses funds immediately
    • Rates easily found on website
    • Flexible application methods

    Cons

    • Doesn’t accept co-signers
    • Late fee $10
    • High potential APR
    Upgrade

Best Personal Loan Lender for Home Improvement in Round Rock: Best Egg


  • Best Egg
    • 4.99% to 35.99%APR Range
    • 700Minimum Credit Score
    • $2,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Round Rock residents looking to renovate their homes should consider Best Egg. Since Best Egg’s launch in 2014, the company has funded beyond $21 billion in personal loans.

    Best Egg is a great option for those with a 700 credit score or higher. The company's APR depends on a borrower’s creditworthiness. Additionally, Best Egg offers loans ranging from $2,000 to $50,000 that borrowers can repay over 36 to 60 months.

    If you’re averse to fees, Best Egg may not be the best fit. When a borrower’s balance rolls from one month to the next, the lender charges a late fee. There’s also a possible origination fee.

    Pros

    • 0.5% autopay discount
    • Mobile app available
    • No prepayment penalty
    • Online application
    • Quick funding

    Cons

    • Potentially high origination fee (1% to 6%)
    • Charges a late fee ($15)
    • 700 credit score required
    Best Egg

Where to Start: How to Choose the Best Personal Loan Lender in Round Rock for You

Whether you need to finance a vacation, consolidate multiple debt streams or fund an emergency expense, taking out a personal loan is a potential solution. Ensure that you’re committed to taking out a personal loan in Round Rock. MoneyGeek’s research revealed that, on average, Texans have a personal loan debt of $15,505.

Since the personal loan process can sometimes be overwhelming, MoneyGeek listed steps to assist you.

  1. 1
    Ask Yourself the Important Questions

    Evaluate your current situation before selecting a lender. Assess elements like your past or existing debts, credit score and income.

    • How much funding do I need? Take time to compute a ballpark figure to inform your decision. Borrowing too much or too little isn’t ideal.
    • What is my credit score? Generally, lenders determine eligibility based on a borrower’s credit score.
    • Can I afford the monthly payment? Personal loans are usually paid in monthly installments.
    • How much debt do I already have? Sometimes, lenders use your debt-to-income ratio to decide whether you’re able to repay the loan.
  2. 2
    Do Your Research

    Weighing different lender options can work to your advantage. Researching the various terms, APR ranges and costs can ensure you choose a suitable lender. Applying for a personal loan is a significant financial commitment. On average, borrowers pay off loans in two to four years. Not to mention, some lenders conduct hard credit checks, which can negatively impact your credit score.

    MoneyGeek compiled the most important details about each lender, such as the pros and cons, to help you pick a fitting choice. If our selection doesn't fit your needs or situation, explore other personal loan lenders in Round Rock.

  3. 3
    Wait

    Once you've decided on a lender, it's good practice to wait a day or two before applying. Again, taking out a personal loan is a long-term commitment. You'll want to work with a lender that can provide stellar customer service. Additionally, waiting a few days can help you make an objective decision. You should feel confident when you apply for a personal loan in Round Rock.

  4. 4
    Read the Fine Print

    Pay attention to the fine print in your personal loan agreement. Thoroughly reviewing and understanding the fine print can help you prepare for what to expect, including origination, prepayment penalty and late fees. You want to avoid “surprise charges” on your monthly bill.

    You may encounter unfamiliar words or phrases in the fine print. Don’t fret. You can consult with the lender’s representative or a financial expert. Understanding the tiniest details of the fine print can also inform your monthly budget.

  5. 5
    Apply

    After you’ve followed the above steps and are confident in your decision, you’re ready to apply for a personal loan in Round Rock. To save you a bit of time, compile relevant documents that the lender might request. Usually, lenders need your identification, address verification and proof of income. However, expect you may need to provide other pertinent papers.

    Getting a personal loan in Round Rock can be fairly easy. Depending on availability, applicants can apply online, via phone or at the lender's office.

What to Do if You Can’t Get a Personal Loan in Round Rock

If your first personal loan application is denied, know you still have options. Usually, lenders reject applications due to insufficient income, low credit score or a lack of employment history.

Ask the lender why your application was rejected. In some cases, you can negotiate a loan’s terms by choosing a smaller loan amount or shortening the repayment term. You may also be able to apply with another lender in Round Rock. However, only do so after you’ve improved the factor that caused your initial application to fall short.

Borrowers sometimes turn to payday loans, especially if they are out of options. MoneyGeek strongly urges borrowers to avoid taking out a payday loan. This loan type demands extremely high interest rates and short repayment terms. You might just end up losing more money.

Frequently Asked Questions About Personal Loans in Round Rock

MoneyGeek answers the most commonly asked questions for those who want to start their personal loan journey in Round Rock. Remember that the best personal loan lender should match your specific needs.

What is the best personal loan lender in Round Rock?
Which lender in Round Rock has the lowest interest rate?
Can I use a personal loan for vacations in Round Rock?
Can I use a personal loan for home improvement in Round Rock?
What can I not use my personal loan for in Round Rock?
How much can I borrow in Round Rock?
How long does it take to get a personal loan in Round Rock?
Can I pay off my loan early in Round Rock?

Our Personal Loan Methodology

We evaluated more than 30 personal loan lenders based on 35+ individual data points across six key categories: consumer friendliness, loan affordability, accessibility, customer service, flexibility and lender transparency.

For each category, MoneyGeek accounted for several individual data points that we believe are significant when selecting the right personal loan lender. Some of these factors include minimum credit score, loan amount limits, minimum income amount, APR ranges, application fees, repayment periods and disbursement time.

Here at MoneyGeek, we value you, the consumer. Therefore, we factor in each lender's customer support quality, business ratings and key features that can better your experience — like prequalification, payment options and mobile apps.

Know that after careful consideration and calculation, we choose lenders with your best interest in mind. MoneyGeek's personal loan recommendations and expert tips should help you make the best decision when choosing a lender that meets your unique needs.

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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sources
Shield Insurance

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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