Best Personal Loans in Florida 2023

Over 250 credit unions and banks operate in Florida. Plus, you have access to dozens of online lenders that can offer cash quickly as long as you meet their criteria. Therefore, choosing between the many options you have available for Florida personal loans is a tough task.

Finding the right lender typically requires a lot of research. You have to check each lender out, examine their rates and fees, and make the choice that’s best for your circumstances. It’s likely that you don’t have the time to work through so many offers, which is why you’re looking for help to find the best personal loans in Florida.

That’s where this list comes in.

We’ve researched for you and come up with a selection of national and local lenders near you that offer personal loan products that you may find interesting.

Biggest Personal Loan Lenders in Florida

This list includes national and local lenders around Florida, in addition to some lenders that operate solely online. Each offers personal loan products available to Florida residents.

National vs. Regional Lenders

There are a few differences between national and regional lenders. With a national lender, you can feel confident that you’re working with a financial institution that has a solid reputation. However, that may come at the cost of more stringent borrowing criteria. Plus, many national lenders take more time to examine your application and release funds.

Regional lenders offer a more personalized touch because they understand the communities they work in. These lenders may help you to confront specific challenges and provide faster access to funds. Still, you may feel wary about working with a lender that doesn’t have a widespread reputation.

Local Lenders

The following list contains a combination of national, local, and online lenders which operate in Florida, so you can make the best choice for your situation.

Fifth Third Bank

Though Fifth Third Bank is based in Cincinnati, Ohio, it has a heavy presence in Florida. The bank stands out to use because it gets involved in community efforts, including offering sponsorship opportunities and working on its own fundraisers. As a result, Fifth Third Bank may be a good choice for Floridians who want to better their communities in addition to accessing money.

As for its personal loans, the bank offers two options:

  1. Signature Loans
  2. Secured Loans

Signature loans require no upfront collateral, with your signature acting as a legal promise that you’ll repay the money you borrow. Fifth Third Bank offers signature loans between $2,000 and $50,000, though you’re limited to a $25,000 maximum if you submit an online application. Terms vary between 12 and 60 months, with the loans offering you the ability to choose a first payment date up to 45 days from the loan’s starting date. Annual Percentage Rates (APRs) vary between 6.99% and 19.49%, depending on your credit history and how much you borrow.

The banks secured loans require you to secure the loan against funds that you have in a Fifth Third Bank savings, investment, or Certificate of Deposit (CD) account. The good news is that this opens up the bank’s loan amounts, allowing you to borrow between $2,000 and $500,000 depending on how much collateral you can offer. Terms still range between 12 and 60 months and you can expect no closing or prepayment fees. The banks secured loans offer a lower APR range than its signature loans, with rates starting at 5.14% and rising to a maximum of 8.64%.

Get in Touch With Fifth Third Bank

Florida is home to many Fifth Third Bank branches. One of their bigger branches can be found here:

200 E Robinson St, Orlando, FL 32801

Fifth Third’s national headquarters is located in Ohio:

38 Fountain Square Plaza, Cincinnati, OH 45202

Phone Number – +1 513-579-5203