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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. We researched the best personal loans in Indianapolis to help you consider financial options.

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Compare Top Personal Loans

Personal Loan Pro
  • Loans up to $50,000
  • Get funds as soon as the following business day
  • Loan offers with no hit to credit score
  • Available in Indianapolis and nationwide
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Best Egg
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!

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

Loan amounts from $5,000 to $50,000. Select from 24- to 60-month terms. APR from 8.99% to 35.99%. Requires 620 credit score. Origination fee up to 6.99%. No prepayment penalty.

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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
9747 E. Washington St.
Indianapolis, IN 46229
(317) 252-0001
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OneMain Financial
  • Fixed rates and payments
  • Loans between $1,500 and $30,000
  • Multiple term length options
  • A+ rating from BBB
4200 S. East St
Indianapolis, IN 46227
(317) 787-3246
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Mariner Finance
  • M, W, Th: 9am - 5pm
  • T: 9am - 7pm
  • F: 9am - 5:30pm
  • Closed Sat and Sun
7411 N. Shadeland Ave.
Indianapolis, IN 46250
(317) 348-3318
  • M-F: 8am - 12am
  • Sat: 10am - 4pm
  • Closed Sun
  • lendingpoint.com/indiana-personal-loans
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
136 N. Delaware St.
Indianapolis, IN 46204
(317) 635-7729
Forum Credit Union
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • forumcu.com
120 Monument Cir.
Indianapolis, IN 46204
(317) 558-6000
Salin Bank
  • M-F: 8am - 5pm
  • Sat: 9am-12pm
  • Closed Sun
  • salin.com
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

Personal Loan Pro

With Personal Loan Pro, you can see personal loan offers of $1,000 to $50,000 from multiple lenders in just minutes. Rates are as low as 2.49% at the time of publishing. Personal Loan Pro is free to use. The online marketplace has helped over 5 million people around the country request a total of nearly $47 billion in personal loans.

Personal Loan Pro

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.

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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.

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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