Business Insider's personal finance experts compared U.S. Bank to the providers of the best personal loans of 2025 and found it to be a solid option, especially for borrowers who already use the bank for their everyday financial needs. U.S. Bank personal loans offer great perks to existing customers — including a funding time that may be as short as a few hours. However, it's not available in all states, and there are loan limitations for non-customers.
The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate.
U.S. Bank Personal Loan Pros and Cons
U.S. Bank Personal Loans Pros
- Competitive interest rates. Both U.S. Bank's minimum and maximum APRs are in line with some of the better personal loan offerings.
- Low minimum loan amount. You can borrow as little as $1,000 with U.S. Bank which makes it a great option for those who only need a small amount of money to cover an expense.
- No origination fee or prepayment penalty. Other lenders charge origination fees, which are a percentage of your loan amount that comes out of your overall balance. You can pay your loan off early and not worry about adding any extra expenses.
- Fast funding. U.S. Bank customers may receive their funds within hours after applying for a personal loan and accepting its terms.
- Autopay discount. You'll save 0.50% when you automatically pay from a personal checking or savings account.
- Joint application allowed. Some borrowers may need to enlist the help of a co-signer to boost their chances of loan approval or to get a lower rate. U.S. Bankallows co-signers on its loans, unlike some competitors.
U.S. Bank Personal Loan Cons
- Late fee. If you miss a payment by more than five days after the due date, you'll pay a $29 penalty.
- Not available in some states. You are able to get a loan in 27 out of 50 states, but if you don't live in one of those states or within 50 miles of a branch, you can't get a loan.
- Worse terms for borrowers who aren't U.S. Bank customers. Generally, U.S. Bank customers have more loan options than non-customers. Customers can get a term as long as 84 months, while non-customers have a cap of 60 months. There is a 660 minimum credit score for U.S. Bank customers, and an undisclosed higher number for non-customers. You can borrow as much as $50,000 if you are a U.S. Bank customer, but only up to $25,000 if you're a non-customer.
- No loan preapproval. The lender will perform a hard credit inquiry after you submit your loan application. A hard credit inquiry will show up on your credit report and may slightly reduce your credit score.
Apply for a Loan
7.99% to 24.99%
$1,000 to $50,000 for U.S. Bank customers, up to $25,000 for non-customers
660
- Competitive APRs
- Low minimum loan amount
- No origination fee or prepayment penalty
- Fast funding
- Autopay discount
- Joint application allowed
- Late fee
- Not available in some states
- Worse terms for borrowers who aren't customers of U.S. Bank
- No loan preapproval
- Get your money within a few hours if you're a U.S. Bank customer
- 0.50% discount when you autopay from a U.S. Bank account
- Available in Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming
- Loan terms range from 12 to 84 months (maximum 60 months for non-customers)
U.S. Bank Personal Loans Overview
U.S. Bank offers a variety of loan products, including personal loans. For the most part, you can use U.S. Bank's personal loans for any purpose. The bank offers loans for debt consolidation, home renovation loans, wedding loans, and loans for vacations, moving costs, and emergency expenses. Here's what to know about its current personal loan offerings.
Rocket Loans Personal Loans Features and Benefits
Loan Amounts
U.S. Bank's loan amounts vary depending on whether you're an existing banking customer or not. If you are, you can borrow from $1,000 to $50,000. If you're not a current client, you can borrow up to $25,000.
Loan Terms and Conditions
U.S. Bank offers loan terms between 12 to 84 months for existing customers. If you're not a current U.S. Bank client, the maximum term is 60 months. There is no collateral required.
How To Apply for a U.S. Bank Personal Loan
U.S. Bank Loans Step-by-Step Application Process
To apply for a U.S. Bank Personal Loan, you'll need to:
- Formally send in your information for a loan. You'll need to send in basic information, such as your name, address, income, Social Security number and birthday to see what rate you'll get. However, U.S. Bank will conduct a hard credit check to produce your loan details, which will impact your credit score.
- Look over different loan offers and pick the one you can afford. After you submit your information, U.S. Bank will give you different term options. A shorter term length means larger monthly payments — but you'll save more in interest.
- Accept your loan terms and plan for repayment. After you sign the document accepting your loan terms, your loan will be approved and funded. Make sure you've worked your loan payments into your budget — late payment may add significant costs to your loan.
If you have a U.S. Bank personal checking or savings account and your loan is approved, you may close your loan online. If you don't have a U.S. Bank account, you might need to close your loan in person at a branch.
Eligibility Criteria
To be eligible for a U.S. Bank Personal Loan, you'll need to be located in one of the 27 states it lends to. Beyond that, U.S. Bank also looks at your credit score, debt-to-income ratio, credit history, and more when evaluating your personal loan application.
U.S. Bank Loan Interest Rates and Fees
Interest rates vary depending on your personal financial situation, but see below for a rough idea of what you can expect with a U.S. Bank Personal Loan.
Current Interest Rates
U.S. Bank 's current personal loan rates range from 7.99% to 24.99%. You can get a discount on your rate by enabling automatic payments.
Additional Fees
U.S. Bank charges no origination fees or prepayment penalties. There may be fees for late and returned payments, ranging from $35 to $40.
U.S. Bank Personal Loan Customer Experience
U.S. Bank, a Better Business Bureau-accredited company, has a A- rating from the BBB. The BBB is a nonprofit organization focused on consumer protection and trust. The BBB evaluates companies based on their response to customer complaints, honesty in advertising, and openness about business practices.
Based on customer reviews, U.S. Bank has a 1.1/5 BBB rating and has closed 2,903 complaints with the BBB in the last three years. It also has just 1.2 stars on Trustpilot.
In July 2022, the Consumer Finance Protection Bureau fined U.S. Bank $37.5 million for illegally retrieving its customers' credit reports and setting up checking and savings accounts, credit cards, and lines of credit without their permission. The bank also pressured its employees to sell unwanted products to customers, making those sales a part of employee goals.
U.S. Bank Personal Loan Alternatives
U.S. Bank Personal Loans vs. Wells Fargo Personal Loans
U.S. Bank allows customers to take out up to $50,000. You can borrow up to $100,000 with Wells Fargo. Other options for larger loans include LightStream Personal Loan and SoFi® Personal Loan.
Neither of the companies charge origination fees or prepayment penalties. Wells Fargo charges a late fee of as much as $39, and U.S. Bank may charge a late fee of $29.
Read our Wells Fargo personal loans review.
U.S. Bank Personal Loans vs. PNC Bank Personal Loans
Again, neither company will hit you with origination fees or prepayment penalties, but PNC Bank charges a late fee of $40 or 10% of the payment (whichever is greater). U.S. Bank may charge a late fee of $29.
U.S. Bank has a term length range of one to seven years, while PNC Bank's range is six to 60 months.
Read our PNC Bank personal loans review.
Why You Should Trust Us: How We Rated U.S. Bank Personal Loans
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average reflecting how the personal loan stacks up across the following categories:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience, so interest rates and fees are weighted most heavily.
See more on how we rate personal loans >>
FAQs
U.S. Bank typically requires a credit score of at least 660 for personal loan approval, though higher scores improve chances of better rates.
Approval time can vary, but many applicants receive a decision within a few business days.
Yes, U.S. Bank personal loans can be used for debt consolidation, allowing you to combine multiple debts into one manageable payment.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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