Bank of America Personal Loan Alternatives

Bank of America Personal Loan Alternatives

Our experts answer readers’ personal loan questions and write impartial product reviews (here’s how we rate personal loans). In some cases, we receive a commission from our partners; however, our opinions are our own.

Bank of America is one of the largest banks in the United States. While Bank of America has a wide range of credit cards available, as well as a $500 short-term loan for its checking account customers, you’ll have to look elsewhere for a personal loan.

Alternatives to Bank of America Personal Loans

Here are some personal loan alternatives to Bank of America that you can consider if you are looking for a personal loan from another major bank:

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Citi personal loans

A Citi personal loan may be a good choice if you have excellent credit and are looking for competitive personal loan interest rates. To qualify, you will need to have a Citi savings account open for at least 12 months, as well as an annual income of at least $10,500.

Citi personal loan amounts range from $2,000 to $30,000. Depending on your credit score and other financial factors, you will find APRs ranging from 9.49% to 20.49% APR.

Read our Citi personal loan review.

Wells Fargo Personal Loans

A Wells Fargo personal loan may be right for you if you’re looking to borrow a large amount of money. The bank offers loan amounts ranging from $3,000 to $100,000. If you are not a customer, you will need to apply for a personal loan from Wells Fargo in person at a branch. Wells Fargo also offers discounts to current customers who pay off their loans through their consumer accounts. Wells Fargo personal loan APRs range from 8.49% to 24.49% (with ratio discount)

Read our Wells Fargo personal loan review.

Personal loans from US banks

A personal loan from US Bank may be a good choice if you already have a relationship with the bank and want to borrow from the same institution where you already do your banking. US Bank offers benefits to its existing customers, including financing time of just a few hours.

You can borrow as little as $1,000 from US Bank, and the bank offers competitive interest rates. APRs range from 8.74% to 24.99%.

Read our review of US Bank personal loans.

Bank of America Personal Loan FAQs

You cannot get an unsecured personal loan from Bank of America. Alternatives to consider if you are looking for a personal loan from a bank include Citi personal loans, Wells Fargo personal loans, and US Bank personal loans.

You can borrow money from Bank of America in many ways, from credit cards to mortgages. However, Bank of America does not offer personal loans.

Bank of America offers a wide variety of loans, from mortgages and home equity lines of credit to credit cards and auto loans. It does not offer personal loans. However, Bank of America checking account holders can borrow up to $500 for a short period of time through a small-dollar lending product called Balance Assist.

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