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Personal Loans

New Jersey Personal Loans: Online & Local Lenders

You can use personal loans in New Jersey for debt consolidation, home renovations, emergency expenses, luxury purchases, or almost anything else. Unlike other types of loans, such as auto loans or student loans, financial institutions don’t mandate a specific purpose. The borrower is free to use the funds however they see fit. 

Borrowers might prefer personal loans over other debt products, such as credit cards, because the interest rates are lower, and the borrowing amounts can be higher. Also, most personal loans are unsecured, meaning you don’t need to collateralize assets to secure the loan. 

We researched personal loans by state to find the best national lenders and local lenders in New Jersey for any need. 

How to find the best personal loans in New Jersey 

Few rules limit how lenders can offer personal loans to residents in New Jersey. Usury laws limit interest rates to 50%, but that’s about it. Loans in New Jersey are similar to what you’ll find in most other states.

“I would caution anyone against accepting a personal loan at a sky-high interest rate of or near 50%—eek!”

Erin Kinkade


Below is a quick snapshot of how national online lenders and local lenders in New Jersey compare. This list isn’t exhaustive. But of the many personal loan lenders available, we think these are the best for borrowers in New Jersey.  

Best online personal loans in New Jersey

Here are our top-rated national online personal loan lenders available in New Jersey. Click the lender’s name in the table to read more about its loans for New Jersey borrowers.

LenderAvailabilityAPRsMinimum credit scoreWhat you need to know

All 50 states
6.40%35.99%Varies with lenderLarge lender marketplaceView rates

All 50 states
7.49%25.49%660Low rates for borrowers with excellent creditView rates

All 50 states
8.49%35.99%Not disclosed onlineBest for fair-credit borrowersView rates

Multiple states, including New Jersey
8.99% – 25.81%Not disclosed onlineBest for borrowers with good creditView rates
Happy MoneyOnline

Multiple states, including New Jersey
11.72%24.67%640Best for consolidating credit card debtView rates

Best local New Jersey personal loans

Here are four terrific personal loan lenders that are only available in New Jersey. Click the lender’s name in the table to find out more about its loans.

LenderAvailabilityAPRsMinimum credit scoreWhat you need to know
First BankNew Jersey Not disclosed onlineNot disclosed onlineSecured personal loans for bad credit availableView rates
Fulton BankNew Jersey Starting at 11.74% APR680Loans between $2,500 and $35,000View rates
Jersey Shore Federal Credit UnionNew Jersey Starting at 10.20%Not disclosed onlineLoans up to $20,000View rates
North Jersey Federal Credit UnionNew Jersey Starting at 11.99% APRNot disclosed online5-year terms available for loans up to $15,000View rates

Best online personal loans in New Jersey

Online lenders can offer quick applications, fast funding time, and unique benefits you can’t always get through local banks and credit unions. Most loans these lenders offer are unsecured, meaning they don’t require collateral.

We’ve reviewed several top online lenders below, each offering unique advantages to New Jersey residents.

Credible – Best for rate comparison

Editorial rating: 5.0 out of 5

  • Simplifies comparing lender rates
  • Soft credit check won’t affect your credit score
  • No fees

Credible is not a lender but an online marketplace that partners with lenders so borrowers can compare real rates in one location. The benefits of a marketplace include the ability to compare costs, check your eligibility without hurting your credit score, and awareness of lesser-known lenders.

Credible doesn’t share your information with lenders if you decide not to apply through its platform. Loan amounts range from $600 to $200,000, and APRs start at 6.40%.

LightStream – Best for high-credit borrowers

Editorial rating: 4.8 out of 5

  • Borrow up to $100,000
  • Attractive rates for excellent credit
  • Unique Rate Beat Program

LightStream stands out for its high borrowing limits, competitive interest rates, and custom loan products for borrowers with excellent credit. It offers loans for debt consolidation, home improvement, recreation, and more.

Its Rate Beat Program is appealing to borrowers with an offer from another lender that’s lower than the advertised rates on LightStream’s website. If you meet certain conditions, LightStream may beat that rate by 0.10 percentage points.

Upgrade – Best for average credit

Editorial rating: 4.9 out of 5

  • Borrowers can choose their terms
  • No prepayment fees
  • Prequalify with no impact on your credit

Upgrade streamlines the loan process with a soft credit check and clear, upfront terms, making it easier for borrowers to understand and manage their repayment plans. It offers multiple loan options you can choose between to find a cost and repayment plan that aligns with your needs.

SoFi – Best for additional benefits

Editorial rating: 5.0 out of 5

  • Offers exclusive benefits like career coaching
  • Loan amounts up to $100,000 available
  • Check your rate in 60 seconds

SoFi stands out for its loans and the additional benefits it provides its borrowers, such as unemployment protection and career coaching. With unemployment protection, SoFi will modify your payments and help you find your next job if you lose your job through no fault of your own.

SoFi’s approach to lending includes no fees—no origination fees, no late fees, and no prepayment penalties. It’s not suitable for those looking for a small loan because its minimum borrowing requirement is $5,000.

Happy Money – Best for consolidating credit card debt

Editorial rating: 4.8 out of 5

  • Specializes in credit card debt consolidation
  • Provides access to financial wellness tools
  • Soft credit check to view rates

Happy Money offers one personal loan for consolidating credit card debt. It wants to help borrowers become debt-free and provides financial wellness tools in addition to its loan services to improve the financial health of its borrowers.

Happy Money lets borrowers select loan terms that best meet their debt repayment goals, whether reducing monthly payments, securing a lower rate, or a shorter repayment term. This focus on supportive and flexible debt management makes it a valuable resource for New Jersey residents dealing with credit card debt.

Local New Jersey personal loans 

The following lenders are local financial institutions only found in New Jersey and nearby areas. Sometimes, a small local bank or credit union can offer better rates and loan terms than a national bank. However, it may take longer to process your application and deposit your funds. 

Some of the institutions we feature below are credit unions, which will require you to first become a member before you can take out a personal loan. 

Every lender below except First Bank offers unsecured personal loans. First Bank’s personal loan is for borrowers looking for a lower interest rate and who may have a subprime credit score.

First Bank – Best personal loans for bad credit in NJ

  • Offers secured personal loans
  • Set up autopay with a First Bank checking account
  • Variety of loan terms available

A secured personal loan uses a personal asset as collateral to secure the loan. This lender offers secured personal loans to borrowers who have a First Bank CD or savings account. Borrowers can choose from a variety of loan terms to customize the loan to their liking. 

Fulton Bank

  • 680 credit score required
  • Loans between $2,500 and $35,000
  • Also offers short-term personal loans

Fulton Bank offers personal loans between $2,500 and $35,000 and requires borrowers to have a credit score of at least 680. However, it also offers short-term loans that don’t require a credit check called CashPlease. With this option, you can borrow $200 to $600 and have the funds deposited in your account in under 48 hours. 

Jersey Shore Federal Credit Union

  • Rates start at 10.20% APR
  • 5-year loan terms available
  • Secured loans are also available

Jersey Shore Federal Credit Union’s personal loan rates start at 10.20%. You can borrow as much as $20,000 with loan terms up to five years. If you’reinterested, Jersey Shore also offers secured personal loans, but you must secure the loan with your JSFCU savings or certificate accounts.

Membership is available to anyone who lives, works, worships, goes to school, or volunteers in Atlantic or Cape May counties. 

North Jersey Federal Credit Union

  • Lower your rate by 0.25%
  • Loans as high as $15,000
  • 5-year terms available

North Jersey Federal Credit Union offers loans up to $15,000 with five-year repayment terms. You can use the money as you see fit, and the loan is unsecured. Borrowers who sign up for autopay, direct deposit with North Jersey FCU, or a Mastercard credit card through NJFCU can get a 0.25% rate deduction on their personal loan. 

To take out a personal loan from North Jersey FCU, you must first become a member. To qualify, you must live, work, or worship in Passaic, Bergen, Essex, or Union County. The same applies to Newark City residents. 

How to choose the best New Jersey personal loan

To choose the best New Jersey personal loan, be sure you understand how personal loans work. First, compare interest rates. Lenders determine your rate based on factors such as your credit score, loan amount, and selected loan term. If you’re flexible on the loan term, experimenting with shorter terms may help you find a better rate.

Next, compare fees. Not every lender charges prepayment or loan origination fees. If you think paying off the loan early is possible, make sure the lender doesn’t charge prepayment penalties. Many lenders don’t, but ensure your selected lender isn’t one of the few that do.

You may also want to see whether the lender offers any financial hardship arrangements if you lose your job. Some lenders are willing to work with borrowers who communicate with them before they miss a payment. This may come in the form of pausing payments or reducing the monthly payment until you find new employment. 

Best alternatives to personal loans in New Jersey 

If you’re on the fence about taking out a personal loan, other options at your disposal may include a personal line of credit, a home equity loan, or a low-introductory-APR credit card.

A personal line of credit is similar to a credit card, but they often come with higher borrowing limits and lower interest rates. Many are secured, which puts your assets at risk but can give you greater borrowing power. 

A home equity loan uses your home’s equity as collateral to secure a loan, which often equates to much lower interest rates than other loan products. You can take our a traditional term loan or a home equity line of credit (HELOC). Depending on whether you own a home and, if so, how much equity you have, a home equity loan could be a valid alternative to a personal loan.

You can get a 0% introductory APR credit card from several companies. Intro periods vary, but many are close to two years. Some of these cards are intended for debt consolidation, but you can also use many for new purchases.