Personal Loans in Ohio: Online & Local Lenders

Looking for a personal loan? If you’re an Ohio resident, you have no shortage of lenders to choose from.

To help you narrow down your options, we’ve rounded up the best personal loans available, from online lenders to local Buckeye banks and credit unions. We’ve also researched the key consumer protections Ohioans need to know. Before we dive into Ohio’s borrower safeguards, kick off your personal loan search with these featured lenders:

Lender	Loan amounts
Credible	$600 – $200,000
LightStream	$5,000 – $100,000
SoFi	$5,000 – $100,000
Upgrade	$1,000 – $50,000

Reviews of the best personal loans in Ohio

You can find personal loans from both online and local lenders. Online lenders are newer to the lending landscape, so it’s important to understand how they differ from Ohio’s regional banks and credit unions:

• Online lenders are pillars of convenience. With fully digital applications and funding processes, these modern creditors turn to technology—instead of physical branches—to serve their borrowers.
• Local lenders are pillars of the community. They’re well-known in the Ohio areas they serve and rely on relationships with local residents to stay in business. As a result, these lenders boast more personalized support.

Online lenders may be the better choice if you’re comfortable with a do-it-yourself loan process (or if you simply prefer minimal human interaction). On the other hand, local lenders are the clear winner if you’re technology-averse or want the option for in-person customer service.

Aside from your personal inclinations, your credit history also plays a role in choosing a lender. Some lenders only accept the highest scores, while others have more generous eligibility criteria.

---

Tip

There’s no universal minimum credit score to get a personal loan, but knowing where your credit stands can help you identify lenders that give you the best approval odds.

---

To streamline your personal loan search, we’ve included online lenders and lenders local to Ohio in our list of recommendations. Not all lenders publish their borrower qualifications, but where possible, we’ve included a note about each lender’s ideal credit range.

Online personal loan lenders for Ohioans 

If you like the idea of getting a personal loan without ever leaving your couch, we recommend these online lenders: 

Credible – Best marketplace

View Rates

LendEDU rating: 5.0 out of 5

• Simplifies loan shopping with a comprehensive marketplace
• Offers competitive rates from various lenders
• Streamlines the application process for borrowers

Credible stands out as the top marketplace for personal loans, offering a user-friendly platform that simplifies the borrowing experience. With access to a wide range of lenders and competitive rates, borrowers in Ohio can easily compare and choose the best loan option for their needs. 

Whether you’re looking for a personal loan to consolidate debt, cover medical expenses, or finance a major purchase, Credible provides a reliable and convenient solution.

LightStream – Best for excellent credit 

View Rates

LendEDU rating: 4.8 out of 5

• Rate Beat Program will beat competitors’ rates
• $100 refund with Loan Experience Guarantee
• No fees whatsoever

LightStream is an excellent choice for Ohio residents with FICO credit scores of at least 740 seeking personal loans. With its competitive APRs, flexible terms, and high borrowing limits, LightStream caters to individuals looking for significant financing with favorable terms. 

Whether you’re planning a home renovation, a wedding, or a dream vacation, LightStream provides customized loans that match your financing needs—and funds can be available as soon as today. However, LightStream doesn’t offer a soft credit check to prequalify, so we think it’s best for borrowers who have excellent credit scores and are confident they’ll be approved.

SoFi – Best for good credit

View Rates

LendEDU rating: 5.0 out of 5

• No required fees
• Same-day funding
• 3 rate discounts

SoFi stands out as a leading provider of personal loans in Ohio, especially for individuals with FICO credit scores of 670 and higher. Beyond lending, SoFi offers a wide range of financial products and services, including investment, insurance, and retirement planning. 

With member benefits such as career support and financial planning resources, SoFi is committed to helping borrowers improve their financial well-being. Whether you’re looking to consolidate debt, fund home improvements, or pursue higher education, SoFi offers competitive rates and exceptional service for Ohio borrowers.

Upgrade – Best for fair credit

View Rates

LendEDU rating: 4.8 out of 5

• Accessible loan options for borrowers with fair credit
• Provides credit health monitoring tools
• Flexible repayment options to suit individual needs

Upgrade is an excellent choice for Ohio residents with FICO credit scores in the range of 580 to 669 seeking personal loans. With its accessible loan options, credit health monitoring tools, and flexible repayment options, Upgrade empowers borrowers to take control of their financial future. 

Upgrade lets borrowers choose their monthly payment and term length. You can adjust your payment date during repayment if necessary. Upgrade funds can be available within one day, and the lender accepts joint applications. But be aware that Upgrade charges an origination fee of 1.85% to 9.99%.

Whether you’re looking to consolidate debt, cover unexpected expenses, or finance a major purchase, Upgrade offers transparent terms and competitive rates tailored to your needs. Upgrade’s commitment to financial inclusion and borrower empowerment makes it a top option for fair-credit borrowers in Ohio.

Local Ohio personal loan lenders

For a hometown touch, we suggest exploring these Ohio-based lenders.

Telhio Credit Union

View Rates

• Offers a variety of personal loan options tailored to members’ needs
• Provides competitive rates and flexible terms
• Emphasizes personalized service and community involvement

Ohio-based Telhio Credit Union offers a variety of personal loan options tailored to its members’ needs. With a focus on providing personalized service and competitive rates, Telhio Credit Union serves the diverse financial needs of Ohio residents. 

Whether you’re looking for a personal loan to finance a home renovation, consolidate debt, or cover unexpected expenses, Telhio Credit Union provides flexible terms and convenient repayment options. As a member-owned institution, Telhio Credit Union prioritizes customer satisfaction and community involvement, making it a trusted choice for personal loans in Ohio.

Kemba Financial Credit Union

View Rates

• Provides a range of personal loan products, including signature loans, lines of credit, and share-secured loans
• Offers competitive rates and flexible terms for members
• Dedicated to serving the financial needs of Ohio residents with personalized service and community involvement

Kemba Financial Credit Union serves the financial needs of Ohio residents with a range of personal loan products designed to meet various borrowing needs. From signature loans to lines of credit and share-secured loans, Kemba Financial Credit Union offers its members competitive rates and flexible terms. 

Whether you’re in need of funds for a vacation, education expenses, or unexpected emergencies, Kemba Financial Credit Union is committed to providing personalized service and community involvement. As a trusted local institution, Kemba Financial Credit Union stands ready to help Ohio residents achieve their financial goals with tailored lending solutions.

Ohio Catholic FCU

View Rates

• Offers personalized lending solutions tailored to members’ financial needs
• Provides competitive rates and flexible terms for personal loans
• Emphasizes community involvement and member satisfaction

Ohio Catholic Federal Credit Union is committed to serving Ohio residents’ financial needs with personalized lending solutions. Focusing on providing competitive rates and flexible terms, Ohio Catholic offers a variety of personal loan options tailored to members’ financial needs. 

Ohio Catholic FCU stands out for its emphasis on community involvement and member satisfaction, ensuring that borrowers get the support they need to achieve their financial goals.

OHecu

View Rates

• Provides a range of personal loan options with competitive rates and flexible terms
• Offers personalized service and support throughout the borrowing process
• Committed to empowering Ohio residents with financial resources and guidance

OHecu, a trusted financial institution in Ohio, offers a range of personal loan options designed to meet its members’ diverse needs. With competitive rates and flexible terms, OHecu provides borrowers with the financial assistance they need to achieve their goals.

OHecu is dedicated to offering personalized service and support throughout the borrowing process, empowering Ohio residents with the resources and guidance they need to make informed financial decisions.

Heartland Bank

View Rates

• Provides personalized lending solutions tailored to individual financial needs
• Offers competitive rates and flexible terms for personal loans
• Emphasizes community involvement and customer satisfaction

Heartland Bank is a trusted provider of personal loans in Ohio. It offers personalized lending solutions tailored to individual financial needs. With competitive rates and flexible terms, Heartland Bank provides borrowers with the financial assistance they need to achieve their goals. 

Heartland Bank is dedicated to community involvement and customer satisfaction. It ensures borrowers can access the support and guidance they need to make sound financial decisions.

About Ohio personal loans

If you look at personal loans by state, you’ll see that Ohio personal loans aren’t much different from those you’d find elsewhere. Still, a few consumer protections and lender regulations are specific to Ohio.

For starters, Ohio caps installment loan interest rates at 25%. Of the 42 states and D.C. that set an interest rate ceiling, Ohio’s maximum rate is higher than only 13 states—and lower than 26.

But Ohio has another interest-related provision on the books: If a lender violates the rate cap, it must pay that interest back to the borrower. Personal loan lenders in Ohio are subject to the following origination fee restrictions:

Principal amount	Max. origination fee
$500 or less	$15
$501 – $999	$30
$1,000 – $1,999	$100
$2,000 – $4,999	$200
$5,000 or more	Greater of $250 or 1% of loan amount

Limiting rates and origination fees helps to limit Ohioans’ borrowing costs. 

These measures—your interest rate and personal loan fees—are combined into what’s called an annual percentage rate (APR). The higher your APR, the more you’ll pay for your loan over time.

Speaking of repayment, fulfilling your personal loan debt obligation in Ohio is straightforward: You’ll pay a set amount each month until your loan is satisfied in full.

---

Tip

Many lenders let you make extra payments to reduce your principal balance. If you can afford to do so, you could pay off your loan early and save hundreds (or thousands) on interest.

---

If you fall behind on your payments, Ohio stipulates what actions a personal lender can take:

• Your lender can’t charge a late fee if you remit payment within 10 days of your due date.
• Late fees can’t exceed $15 or 5% of your monthly payment amount, whichever is greater.
• Your lender can only assess one late fee per missed payment, no matter how late your payment is.

No one intentionally misses a loan payment, but if you foresee financial hardship on the horizon, contact your lender as soon as possible. 

You may be able to work out a payment agreement that keeps your account in good standing and protects your credit until you can get back on track.

Should you choose a national or local personal loan lender?

Wondering whether to borrow from a big-name lender or a neighborhood mainstay? Your best-fit lender depends on what you’re looking for in terms of convenience, customer service, and qualification criteria.

Before we break down the potential positives and negatives in more detail, here’s a quick overview of the differences between each option:

National lenders	Local lenders
Multi-state availability	Regional availability
Prioritize convenience and efficiency	Prioritize client relationships
Often have unique benefits	Often have more competitive rates
More selective eligibility criteria	More flexible eligibility criteria

A national lender’s presence reaches much farther than a local lender’s. If you travel often or plan to move out of Ohio, you stand a better chance at finding a nearby location from a larger lender than you would with a community bank or credit union.

But that expansive service area can come at a cost. Smaller lenders cater to a smaller audience, so you’re less likely to feel—or be treated—like just a number.

Still, local lenders may not have as much impetus as national lenders to invest in cutting-edge, customer-facing technology. Many local lenders offer online account access and two-way messaging, but national personal loan lenders are more likely to have:

• Additional contact methods, including instant chat
• Robust proprietary apps
• Enhanced online self-service options

National lenders are also more likely to have complex corporate structures, which can translate into rigid underwriting requirements. Local lenders may have more wiggle room regarding loan approvals. 

When deciding between national and local lenders, first find out what rates and terms you can get from both. If you prequalify for similar loan offers from both types of lenders, consider your ideal borrowing experience and let those preferences guide you.

If your loan offers are much different, it’s worth reevaluating your lender must-haves. You might think you’re set on either a national or local lender, but a lower rate or better terms could swing your vote the other way.

How to apply for a personal loan in Ohio

You’ve already made headway looking for lenders, but what should you do when you’re ready to apply? To get a personal loan, follow these steps:

1. Gather your documents. You’ll need your driver’s license and proof of income, such as pay stubs or W-2s. If you plan to report other income sources (alimony payments, for example), have those records ready too.
2. Check your rates. We recommend prequalifying with at least four lenders. This doesn’t hurt your credit, and having a wide selection of preliminary loan offers gives you more leverage when it comes to choosing the right personal loan.
3. Complete an application. After you select a loan offer, follow your lender’s application process. You’ll consent to a hard credit check and submit your identity and income documents during this step.
4. Review and sign your loan agreement. If your lender allows it, you’ll customize your terms and payment due date before signing your agreement.
5. Get your funds. After accepting your loan, your lender will disburse your proceeds to your bank account.

---

Tip

If you only have hard copies of the personal loan documents you need, save time by scanning them to your computer or your phone before you apply.

---

How long it takes to apply for a personal loan depends on your lender. You can prequalify in around a minute, and most personal loan applications are designed to take just a few minutes to complete.

Your lender’s review and verification process can take anywhere from a couple of hours to a couple of days. Funding timelines vary too, but you’ll often receive your loan proceeds within one to two business days.

FAQ

What is the interest rate for a personal loan in Ohio?

In May 2024, the interest rate on a personal loan in Ohio ranged from 7% to 36%. Your credit score, financial circumstances, loan amount, and term length influence your interest rate.

Can you get a personal loan in Ohio with bad credit?

Yes, you can get a personal loan with bad credit. Your loan offer may have a higher interest rate and may impose stricter loan conditions. Some lenders cater to individuals with bad credit, so it’s essential to shop around for the most favorable terms.

What credit score is needed for a personal loan in Ohio?

Many lenders in Ohio require a credit score of 680 or above for a personal loan. However, some lenders will accept lower scores, especially if they consider other factors, such as income stability and debt-to-income ratio.

What is the easiest place to get a personal loan in Ohio?

Online lending marketplaces such as Credible make securing a personal loan in Ohio simple. Decision criteria include credit score, income stability, and financial history.