Personal loans can serve a multitude of purposes. They can make your dream vacation a reality, help with a large purchase, or help pay off other bills or credit card debt.
They’re unsecured loans, which means unlike an auto loan or mortgage, they don’t have any collateral attached to them, so you can’t lose your property if you can’t pay back the loan.
Unfortunately, Capital One doesn’t offer personal loans. There are, however, many other lenders you can turn to.
On this page:
- Alternatives to Capital One Personal Loans
- Other Options for Finding Personal Loans
- What Loans Does Capital One Offer?
Alternatives to Capital One Personal Loans
Even though you won’t be able to get a new personal loan from Capital One, there are some excellent options out there for you to choose from.
You can check out our Best Personal Loans page to see our top choices (including options for consumers with good credit, fair credit, and bad credit) or read on to learn about three other options.
Here are some examples of the types of loans, rates, and terms available from well-known lenders.
|LightStream||4.99% – 16.79%||$5,000 – $100,000||2 – 7 years|
|SoFi||5.99% – 18.38%||$5,000 – $100,000||2 – 7 years|
|LendingClub||6.95% – 35.89%||$1,000 – $40,000||36 or 60 months|
LightStream offers personal loans targeted at borrowers with good credit scores, allowing them to offer very competitive rates and great benefits.
Currently, rates range from 4.99% to 16.79% and loan amounts range from $5,000 to $100,000. Furthermore, there are no fees with LightStream’s loans.
The application process can be done completely online and you can receive your funds in as soon as the same day. LightStream even offers a Rate Beat Program in which they will beat competitors’ rates by at least 0.10% if certain conditions are met.
>> Full Review: LightStream Personal Loans Review
SoFi is another online lender that offers competitive personal loans targeted at well-qualified borrowers. SoFi also offers great benefits such as free career coaching and unemployment assistance.
Interest rates range from 5.74% to 18.34% and loan amounts range from $5,000 to $100,000.
SoFi’s application can also be done completely online and there are no application, origination, or prepayment fees.
>> Full Review: SoFi Personal Loans Review
LendingClub is one of the oldest and best-known peer-to-peer lenders. Their online marketplace connects prospective borrowers like you with people who are willing to fund part or even all of your loan.
Over 2.5 million people have borrowed through LendingClub since 2007, with an average customer rating of 4.5 out of 5 stars. Rates and terms are highly flexible and depend largely on your creditworthiness.
The process is billed as quick and easy, with disbursement coming in only a few days. Lenders should be aware that unsecured personal loans they issue through LendingClub are not FDIC insured.
>> Full Review: LendingClub Personal Loans Review
Other Options for Finding Personal Loans
If you’re looking for a personal loan and are disappointed to find that Capital One doesn’t offer them, don’t worry — you still have plenty of options.
Here are some of our favorite resources to help search for a personal loan:
- Best Personal Loans: This guide goes over our top picks for personal loan lenders broken out by credit ratings.
- Fair Credit Personal Loans: See our top picks for personal loans specifically designed for borrowers with fair credit.
- Bad Credit Personal Loans: Don’t have the best credit? Learn more about our top picks for personal loans specifically designed for those with bad credit.
- Home Improvement Loans: Looking for a personal loan to pay for home improvements? Check out our guide to see options and learn more about how they work.
- Debt Consolidation Loans: If you are looking to consolidate credit card debt or another form of debt, you can use a debt consolidation loan to do so, potentially saving you money along the way.
- Credit Union Personal Loans: Prefer a credit union over a bank or online lender? Check out our credit union personal loans guide to see some options.
- Peer-to-Peer Loans: These loans allow you to borrow from every day consumers instead of banks and lenders.
What Loans Does Capital One Offer?
Capital One offers bank accounts, lines of credit, auto loans, and small business and commercial financing, but it doesn’t offer personal loans anymore.
- Auto Loans: Through the Auto Navigator program, the company helps you find the right loan terms through personalized options, it helps you choose a car from thousands of dealers nationwide, and it optimizes the loan process, all without even hitting your credit report with a hard credit check.
- Commercial Lending: Capital One also offers a wide variety of commercial financing solutions, including real estate, asset-based lending, and more.
- Small Business Lending: In certain U.S. locations, Capital One offers limited small business banking and lending products as well, including loans and lines of credit.
In addition, Capital One also continues to service any previously existing loans, even if they no longer offer that particular loan product. If you already have a Capital One personal loan, then you can continue to log in and manage that loan online.
Capital One might not offer personal loans anymore, but you have plenty of personal loan alternatives. Whether you go with your local bank, an online lender, or even a peer-to-peer company like LendingClub, chances are good that you’ll be able to find the loan or line of credit you need.
Author: Jeanette Perez
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