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Best Personal Loans in Florida 2023

Matthew Levy Updated: September 10, 2023 • 6 min read
Personal Loans in Florida

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.

  • Fixed APR: 6.99 - 35.99%
  • Loan Term: 12-84 months
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sofi logo
  • APR: 8.99-25.81%
  • Loan Term: 24-84 months
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penfed logo
PenFed Credit Union
  • Useful mobile app to manage your loan
  • Accepts co-signer and joint applications
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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.

1. 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


2. Florida Credit Union

As the name implies, Florida Credit Union is based in the state. As such, the institution is readily available to Florida residents who want access to strong interest rates. It offers a range of personal loan products, including lines of credit, debt consolidation loans, and no-hassle loans available to people who have poor credit ratings.

The credit union’s rates vary depending on the type of loan you choose. For example, a closed-end personal loan of $3,000 or more comes with an APR of 11.998%. However, the same type of loan where you borrow $5,000 or more has a lower APR of 10.603%. The company’s APR range for its closed-end loans varies from 10.171% to 17.000%, making it one of the best regional options for Florida residents.

The APR rises if you take out a personal line of credit. With credit starting from $1,000, you can expect an APR range of between 10.24% and 17.99%, depending on your circumstances.

Get in Touch With Florida Credit Union

It’s easy for Floridians to get in touch with Florida Credit Union as the institution operates from the city of Gainsville. You can visit any of their branches throughout the state, such as Butler Plaza North Branch:

2803 SW 42 St., Suite 10, Gainesville, Florida 32608
Phone: 352-377-4141


3. Tropical Financial Credit Union (FCU)

Tropical FCU states that it’s on a mission to help Floridians secure their financial futures. Based in the southern regions of the state, the credit union offers a host of products, including auto loans, credit cards, mortgages, and personal loans. The credit union has Apple and Google Play apps that make managing your accounts easier. Plus, it allows you to make payments online so you don’t have to physically mail checks or visit a branch.

Tropical FCU offers both unsecured personal loans and loans secured against your savings account. Both come with fixed rates and offer flexible repayment terms of up to 60 months. However, conditions may apply to these terms, especially if you have a low credit score or wish to borrow a lot of money. The application is simple, taking less than 10 minutes if you complete the process online.

You can borrow between $250 and $40,000 from the credit union. Rates vary depending on the type of loan you choose. An unsecured loan has a starting APR of 8.75%, though this can rise as high as 17.90% depending on your circumstances. Those with savings in a Tropical FCU account can access a savings-secured loan with a starting APR of 2.60%.

Get in Touch With Tropical FCU

Tropical FCU offers personal loan products to residents of southern Florida and is headquartered in the city of Miramar. You can visit them here:

3050 Corporate Way
Miramar, FL 33025

Phone Number – 954-517-7700


4. Upstart

Those with poor credit may be able to access personal loans in Florida via Upstart. Offering loans across 48 states, Upstart has a low minimum credit score of 300. This requirement makes their loans accessible to those with minimal credit history, as well as potentially making them options for those who want to rebuild their credit scores.

Unfortunately, low credit score requirements mean that many of Upstart’s loans carry a high APR. While those with good credit may be able to access an APR of 3.22%, which is the lowest onthis list, Upstart also has the highest APR range. Its maximum APR tops out at 35.99%, which is closer to what those with poor credit can expect to pay.

On the plus side, the lender provides funds the day after accepting an application. You can borrow between $1,000 and $50,000, with repayment terms ranging from 36 to 60 months. You may have to pay origination fees of up to 8%, depending on your credit rating, plus the loans come with late payment penalties.

Get in Touch With Upstart

Upstart is a national lender that operates in Florida. But its headquarters are in California:

Upstart Operations Dept., P.O. Box 1503, San Carlos, CA 94070

Phone Number – 1-855-438-8778

Top Online Lenders in Florida

Nowadays, online lenders do not fall short of traditional brick-and-mortar banks and lenders. In fact, many people prefer to deal with a lender online rather than having to schedule or visit a lender personally. Some online lenders even offer better terms and rates, and are worth a check. We've gathered a list of some of the best online lenders whom which you can take out a personal loan in Florida.

Access the Right Personal Loan in Florida

Florida residents benefit from having access to national and local lenders, in addition to many online lenders. As such, you’ll likely find a loan that suits your needs as long as you meet the appropriate criteria.

Those who wish to work with a local lender have several options, with Tropical FCU and Florida Credit Union both offering attractive regional products. Upstart is an excellent online choice for those with poor credit, as it offers personal loans that you can use to improve your credit score or access funds when other lenders might refuse your application. Fifth Third Bank operates in several territories, though its community efforts may make it an attractive choice for many.



Which lender in Florida has the lowest interest rate?

Assuming you have a strong credit rating, Upstart offers some of the lowest interest rates available to Floridians. With its APR range starting from 3.22%, it’s a good choice for accessing funds at a low cost as long as you’re in a strong borrowing position.

What to do if you can’t get a personal loan in Florida?

If you don’t meet the criteria for any of these Florida personal loans, you may be able to apply for a credit card or payday loan. Note that both of these options carry high APRs, meaning they may not be a suitable choice if you believe you’ll struggle to make repayments.

How fast can I get a personal loan in Florida?

The speed at which you receive your funds varies depending on the lender. Many online lenders offer same-day or next-day funds, with applications often taking a matter of minutes. Working with a more traditional lender may result in you waiting for several days, or even weeks, to see if your application gets accepted.

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Written by Matthew Levy

Matthew is a freelance financial copywriter with 14+ years in financial services. He holds a Bachelor of Science degree in Economics with business and finance options and is a CFA Charterholder. He is from Vancouver, Canada, but writes from all over the world.