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Personal Loans

Texas Personal Loans: Online & Local Lenders

You can use a personal loan for just about any expense. Borrowers who use personal loans often prefer them over other options because they offer higher borrowing amounts and have lower interest rates than other loan products, such as credit cards. 

When choosing a financial institution, you might prefer to work with a local or regional bank over a national online lender. It can be easier to speak with a loan officer about what you need, and you may be able to customize your loan terms to better suit your budget and financial goals. 

Keep reading for a deep dive into the best national online lenders and regional lenders offering personal loans in Texas. 

How to find the best personal loans in Texas

Texas law only requires lenders to be licensed in the state if they issue interest rates greater than 10%. Other than that, Texas personal loans don’t differ from personal loans in other states

You can use Texas personal loans for just about anything. Many borrowers use them to pay off debt, and others use them for emergency expenses or home renovations. As long as you’re not using the money for an illegal activity, you can spend it as you see fit. 

We researched personal loans by state to compare national and local banks in Texas. Here’s a quick breakdown.

Online lenders available in Texas

Click the lender’s name in the table for more about its personal loans in Texas.

LenderRates (APR)
Credible6.40%35.99%View rates
LightStream7.49%25.49%View rates
Upgrade8.49%35.99%View rates
SoFi8.99% – 25.81%View rates
Happy Money11.72%24.67%View rates

Local Texas personal loan lenders

Click the Texas lender’s name in the table to find out more about its personal loans.

LenderAvailabilityRates (APR)
B&F Texas FinanceOdessa, Midland, and West TexasNot disclosed
Greater Texas Credit UnionLocal Texas lenderStart at 12.99%
Credit Union of TexasLocal Texas lender Not disclosed
Frost BankSan AntonioStart at 10.00%

Best online personal loans in Texas 

Texas’s vast and diverse population makes it a desirable state for online lenders to establish eligibility. An influx of digital lending platforms has led a wider range of Texans to access financial support.

The companies we’ve selected below have carved out niches in this competitive landscape. They provide Texans many benefits, ranging from a comprehensive rate comparison marketplace to specialized lending solutions tailored to various credit profiles.

Credible – Best marketplace

Editorial rating: 5.0 out of 5

  • Compare prequalified rates1
  • Checking your rates doesn’t affect your credit score
  • No fees

Credible’s platform is ideal for Texans looking for a hassle-free experience comparing personal loans. With one quick application, you can see prequalified rates from multiple lenders.

It’s an appealing option for those with little information on their credit profile because it allows you to find out whether you’re eligible with lenders catering to a wide range of credit profiles—and it won’t hurt your credit score.

LightStream – Best for excellent credit

Editorial rating: 4.8 out of 5

  • Customized loans
  • Low rates for those with excellent credit
  • Rate Beat Program for competitive terms

LightStream offers personal loans tailored to your needs, whether for home improvement, debt consolidation, or a wedding. The repayment terms differ depending on the use of funds, but what’s consistent is its ability to offer some of the lowest rates available.

Its Rate Beat Program is a unique feature that promises to offer a rate 0.10 percentage points lower than the rate a competing lender’s offered rate under specific conditions.

Upgrade – Best for fair credit

Editorial rating: 4.9 out of 5

  • Loans for fair credit and above
  • Pick the terms that best fit your needs
  • View your rate with a soft credit check

Upgrade offers a solution for Texas residents with less-than-excellent credit. A soft credit inquiry for initial rate checking means you can prequalify with no impact on your credit score. Upgrade’s transparent approach lays out all terms and fees upfront, so you won’t have any surprises down the road.

The lender also offers the flexibility to choose your loan terms, tailoring your loan to your financial situation. With loans up to $50,000, you might find the right loan for debt consolidation, home repairs, or other personal needs.

SoFi – Best for good credit

Editorial rating: 5.0 out of 5

  • Unique member-only benefits
  • Borrow up to $100,000
  • No fees required

SoFi is synonymous with premium lending services, and Texans with good credit can leverage this to obtain loans with no fees required.

SoFi’s quick prequalification process, which provides rate quotes in just a few seconds, allows you to assess your options right away. And with loan amounts up to $100,000, SoFi is suited for a variety of financial objectives, from consolidating high-interest debt to funding large purchases.

Happy Money – Best for credit card debt

Editorial rating: 4.8 out of 5

  • Consolidate credit card debt
  • Speak with Member Advocates
  • Check your rate without affecting your credit

Happy Money caters to Texans looking to take control of their credit card debt. The lender specializes in providing loans designed for consolidating and paying off high-interest credit card balances. This focus ensures borrowers have access to products that are tailored to their debt-reduction goals.

In addition to its targeted loans, Happy Money offers a suite of support services, including access to Member Advocates, who can guide borrowers through their debt-free journey.

Local Texas personal loans

The following lenders are only available in Texas. Borrowers sometimes prefer local lenders over national lenders because they often offer more loan customization, and you can communicate with them directly about questions or concerns you may have. 

The downside is that taking out a personal loan from a local bank may take longer, and it may also take more time to compare rates. 

All the lenders below offer unsecured personal loans, but a few also offer secured options, which may help you get a lower rate.  

B&F Texas Finance – Best personal loans for bad credit in Texas

  • Works with bad-credit borrowers
  • Fast approval and disbursement
  • Available in Odessa, Midland, and West Texas

B&F Texas Finance doesn’t offer large loan amounts, but it works with borrowers who have bad credit. You can only borrow up to $1,300, but the application process is fast and easy. You can use B&F personal loans for any expense.  

Greater Texas Credit Union – Best for no origination or prepayment fees

  • Borrow as much as $10,000
  • Rates as low as 12.99%
  • Terms up to 60 months

Greater Texas Credit Union doesn’t charge a loan origination or prepayment fee. Its rates are fixed rate, so your payment will be the same for the life of the loan. The loans are unsecured, meaning you don’t need to collateralize any of your personal assets. 

Greater Texas Credit Union has 16 branches throughout Texas. Because it’s a credit union, you’ll first need to become a member, which requires a $5 deposit into a GTCU savings account.  

Credit Union of Texas – Best for flexible payments

  • Skip up to 2 payments a year as long as your account is in good standing
  • Loan terms up 60 months
  • Loans processed in 1 – 2 days

Credit Union Of Texas offers personal loan borrowers the option to skip up to two payments a year with its Skip-a-Pay program. You must have made at least four on-time payments before skipping a payment, and your account must be current before you request to skip a payment. 

Credit Union of Texas also offers secured personal loans that allow you to use a CUTX savings account or CD as collateral. Your assets are at risk with secured personal loans, but the benefit is that secured loans have lower interest rates.

Frost Bank – Best for low APRs

  • Rates start at 10.00% APR
  • Only takes 15 minutes to apply
  • Get a 0.25% autopay discount 

Frost Bank offers flexible loan terms and even offers borrowers the option to secure their personal loan with collateral to lower their rate. Plus, you can save more by signing up for automatic payments using a Frost checking or savings account. 

Rates start at 10.00% but will vary depending on your credit history, the loan amount, term length, and type of loan you choose.  

How to choose the best Texas personal loan 

To choose the best Texas personal loan, compare rates and fees between multiple lenders (here’s a list of our favorites). Your first objective is to find the lender offering the best deal. For many borrowers, this is the most significant variable, but don’t stop there. 

Check out the lenders’ reviews online. Are you confident you’ll get good customer service if you have an issue? For example, if a borrower couldn’t make a payment, did the lender work with them? 

Better Business Bureau and Trustpilot are excellent places to get an idea of a bank’s customer service. With any financial institution, we can expect occasional complaints. But has the company taken time to communicate with borrowers who had a negative experience? This can be a sign that the company works hard on a daily basis to provide top-notch customer service.

Best alternatives to personal loans in Texas 

Other financial options may be available. Have you considered a personal line of credit, a home equity loan, or an low-introductory-APR credit card?

A personal line of credit is like a credit card in that any amount you borrow and repay becomes available once again. Plus, you have the option to make minimum payments if needed. As with personal loans, you may be able to access higher borrowing limits and lower APRs if you secure the loan with collateral.

Home equity loans allow borrowers to secure their loan with the equity they’ve built in their home. Home equity loans often have much lower APRs than other loan products because you secure the loan with a high-value asset. 

You can use credit cards with a 0% introductory APR for balance transfers and new purchases. The length of the intro APR period depends on the card, but many cards offer lengthy introductory periods. Depending on how much you borrow, you may consider a combination of financial products to save money. 

1 Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.