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Find the Best Personal Loans in Indianapolis, IN

Personal loans give qualified people an immediate source of cash to be paid back over time with interest. Our partners at We researched the best personal loans in Indianapolis to help you consider financial options.

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    Compare Top Personal Loans

    #1 OUR FAVORITE
    Overall satisfaction rating
    • Funds as fast as 1 business day
    • No prepayment penalties
    • BBB A+ rating
    • Available in Indianapolis

    Won't affect your credit score!

    Read More
    #2
    FreedomPlus
    Overall satisfaction rating
    • Loans up to $40,000
    • Same-day loan decisions
    • One fixed monthly payment
    • Available in Indianapolis

    FreedomPlus is an online loan broker that provides loans from $7,500 to $40,000. Get approved in less than a day, and you could receive funds in as little as 48 hours.

    Learn More (800) 368-0061 Read More
    #3
    Eagle Finance
    • Loans from $1,000 to $10,000
    • Monthly payment terms between 8 and 24 months
    • Apply online, by phone or in person
    • A+ rating from BBB
    Location
    9747 E. Washington St.
    Indianapolis, IN 46229
    (317) 252-0001
    Read More
    #4
    OneMain Financial
    • Fixed rates and payments
    • Loans between $1,500 and $30,000
    • Multiple term length options
    • A+ rating from BBB
    Location
    4200 S. East St
    Indianapolis, IN 46227
    (317) 787-3246
    Read More
    Mariner Finance
    • M, W, Th: 9am - 5pm
    • T: 9am - 7pm
    • F: 9am - 5:30pm
    • Closed Sat and Sun
    Location
    7411 N. Shadeland Ave.
    Indianapolis, IN 46250
    (317) 348-3318
    LendingPoint
    • M-F: 8am - 12am
    • Sat: 10am - 4pm
    • Closed Sun
    • lendingpoint.com/indiana-personal-loans
    Location
    Serves residents in
    Indianapolis, IN
    (888) 969-0959
    Indiana Members Credit Union
    • M-Th: 8am - 4pm
    • F: 8am - 5pm
    • Closed Sat and Sun
    • imcu.com
    Location
    136 N. Delaware St.
    Indianapolis, IN 46204
    (317) 635-7729
    Forum Credit Union
    • M-F: 9am - 5pm
    • Closed Sat and Sun
    • forumcu.com
    Location
    120 Monument Cir.
    Indianapolis, IN 46204
    (317) 558-6000
    Salin Bank
    • M-F: 8am - 5pm
    • Sat: 9am-12pm
    • Closed Sun
    • salin.com
    Location
    8455 Keystone Crossing
    Indianapolis, IN 46240
    (317) 452-8050

    How to choose a personal loan in Indianapolis

    Indianapolis Skyline

    Borrowers in Indianapolis can obtain a personal loan from several different kinds of lenders. These include private lending companies, banks and credit unions, peer-to-peer lenders or borrower-specific lending companies.

    One of the top reasons to take out a personal loan in Indianapolis is to pay for vehicle-related expenses. Personal loans are also commonly used to pay bills, cover emergencies, finance tuition and consolidate high-interest debt.

    When considering personal loans in Indianapolis, understand that there are several different kinds. Your financial situation, including your credit score, income and current expenses will determine which you qualify for and which is appropriate.

    Type of loan Description
    Secured loan An asset secures the loan; if the borrower defaults, the lender can seize the asset.
    Unsecured loan No collateral is necessary; as a result, interest rates are usually higher.
    Single-payment loan The entire principal and interest are due on the date the loan matures.
    Monthly payment loan The loan is repaid over an established term with monthly payments covering principal and interest.
    Salary advance loans Money is borrowed between paychecks; this is often a short-term, high-interest loan.

    Whichever type of personal loan in Indianapolis you choose, be aware that in Indiana, lenders have limits in place on interest, delinquency charges, prepayment penalties and other fees and conditions. For example, maximum rates on a $3,000 loan can’t exceed 36 percent for the first $960, plus 21 percent for the rest. The Department of Financial Institutions reminds borrowers that these are maximum amounts; many borrowers can find significantly lower ones.

    How to apply for a personal loan in Indianapolis

    The application process for a personal loan in Indianapolis is designed to help the lender figure out how likely you are to repay, based on factors like your credit history, income and monthly expenses.

    Before you fill out an application, it’s useful to check your credit score. Lenders may have a minimum credit score to apply for personal loans. If you have a poor credit score, typically below 630, you will face higher interest rates and may be best off applying with peer-to-peer lenders or credit unions.

    You will likely have several options for filling out an application. Most lenders allow you to enter information online, but you can also opt for a phone application or even apply in person at a brick-and-mortar institution like a bank or credit union.

    In some cases you may go through a pre-qualification process that previews a loan offer. Be prepared to supply information such as:

    • Social Security number
    • Monthly financial obligations (rent, student loans, car payments, etc.)
    • Income, with employer information
    • Previous addresses

    Once you’ve obtained offers, compare the loan amounts, interest rates and monthly payments. Do not skip over the fine print, which will have descriptions of any fees, like origination fees, or conditions, such as automatic withdrawal of payments. Be certain to ask questions about anything you have trouble understanding.

    Before your loan is approved, you will have to provide more information, such as proof of income and address. The lender will also do a hard pull of your credit.

    After your loan is finalized, funds are transferred quickly, usually within a week — and sometimes within a day or two.

    Personal Loans Reviews

    Best Egg

    With Best Egg, you can apply online and have funds deposited into your account in as little as one day. Customers can request fixed term loans from $2,000 to $35,000 and can qualify for low APRs. Loans can be used for debt consolidation, home improvement, vacations, special occasions and more. Customers say the application process is fast and simple and that funds are available quickly.

    Best Egg

    FreedomPlus

    FreedomPlus is an online lender of personal loans ranging from $7,500 to $40,000. Borrowers can qualify in a single day and get money in their accounts within three business days. Terms can last between two to five years. Customers of FreedomPlus say representatives are helpful during the application process and recommend the company to others seeking personal loans.

    FreedomPlus Learn More (800) 368-0061

    Eagle Finance

    Eagle, in business since 1994, offers personal loans between $1,000 and $10,000. Borrowers benefit from monthly terms between eight and 24 months and have used Eagle loans for bill-paying, dream vacations, vehicle repair, home repair and more. After a customer applies online, over the phone or at an Eagle office, a loan decision is usually made within 24 hours. Customers praise Eagle for friendly customer service and great lending experiences.

    Eagle Finance

    OneMain Financial

    OneMain Financial provides fixed-rate, fixed-payment loans between $1,500 and $30,000. Borrowers often use the funds for debt consolidation, life events, recreation, auto loans and home projects. After applying online, customers in Indianapolis can meet a loan specialist at a local branch to discuss options. Reviews are mixed about OneMain Financial; some borrowers are satisfied, while others have experienced communication problems and higher interest rates.

    OneMain Financial