Biggest Personal Loans Lenders in New York, NYIf you want to go with a big brand name lender, you have plenty of choices if you live in NYC. The city hosts branches of nearly all of the major US banks, including JPMorgan Chase, Bank of America, Wells Fargo, and Citibank. Each bank offers a streamlined personal loan process. Plus, it’s easy to find information about them online. Furthermore, large banks have established reputations, meaning many New York residents feel comfortable borrowing from them. Unfortunately, there are some downsides to working with the big banks. They often have stricter qualifying criteria than local lenders. Borrowers with bad credit might find it difficult to get a personal loan from a major bank. Additionally, these banks often provide little flexibility in their repayment terms, which could lead to some borrowers struggling if they fall behind on their repayments.
Loan Companies in New YorkAssuming you don’t want to work with a national bank, there is a multitude of local lenders and credit unions in New York. This list includes some of the most prominent. Each has benefits and disadvantages to consider before you apply for personal loans near New York.
1. Popular Community BankPopular Community Bank offers three types of personal loans. Popular's unsecured personal loans allow you to borrow up to $50,000 with no loan collateral required. The loans come with competitive rates, and if you participate in auto-pay, you get 0.25% of the rate offered with their loan. Of course, this discount isn’t applied if you choose to pay by other means, and it’s revoked if you cancel payments via auto-debit. The bank also offers credit builder loans designed for first-time borrowers and those with poor credit scores. These personal loans let you borrow up to $10,000 and come with more flexible repayment terms than the lender’s unsecured loans. They’re ideal for building your credit score. Finally, the bank offers personal loans of up to $100,000 with collateral. Typically, it accepts your savings account or a Certificate of Deposit as collateral for these types of loans. APRs vary depending on the type of loan you choose. Popular’s 12-month unsecured loans start at 5.99% APR, though this rate increases if you don’t have good credit. Its credit builder and collateral-based loans have starting APRs of 5.25%.
Get in Touch With Popular Community BankPopular Community Bank has branches conveniently located in Manhattan, Brooklyn, Queens, and the Bronx. You can visit any of these branches to speak to a representative about New York personal loans. The below is a large branch in the center of Brooklyn: 539 Eastern Parkway Brooklyn, NY 11216 Phone Number – (718) 773-7001
2. Apple BankThough it may sound like the banking arm of a more famous company that uses the Apple brand, Apple Bank is actually an independent New York-based lender. It offers New York personal loans for many purposes, including home repairs, repaying high-interest debt, and covering unexpected expenditures. You can borrow between $3,000 and $50,000, with repayment periods ranging between three and five years. Apple Bank’s loans come with no late fees or origination fees. Plus, you can prepay your loan without worrying about a penalty. The application process is also simple, as you can complete it online without having to visit a branch. The bank promises that its loans will have APRs of no more than 24.99%. You’ll likely achieve a lower rate than this, particularly if you have a good credit score. The bank has an online portal you can use to manage your loan and offers auto-pay options so repayments get handled with no intervention from you. You can check your rate via the Apple Bank website, with this check having no effect on your credit score.
Get in Touch With Apple BankAs a New York-based lender, Apple Bank has branch locations throughout New York City, Long Island, as well as Westchester and Rockland Counties. One of its central locations in the heart of Manhattan is: 250 West 23rd St. New York, NY 10011 Phone Number – 212-367-7830
3. LendziLendzi focus on helping people navigate the complexities of the world of lending. With over 10 years of direct experience in lending, they have a large presence in New York. Lendzi has partnerships with over 60 top lending institutions, so getting in touch with them means direct access to an expert network. They offer a no-cost, no-obligation application, a quick funding timeline and a streamlined process. Borrowing amounts start at just $1,000 and can go up to hundreds of thousands. Although Lendzi does not list APRs on its website, you can easily get in touch with them online and ask all of the questions you need to assess which personal loan is right for you.
Get in Touch With LendziIf you're looking for a 21st century lender that makes obtaining the money you need to meet your personal finance needs easy, feel free to get in touch with Lendzi. Their New York address is: 368 9th Ave., 6th floor New York, NY 10010 Phone Number – (877) 511-6904
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Find the Best Personal Loans in New YorkWhen it comes to finding personal loans near New York, you have plenty of options. In addition to dozens of local lenders, you have access to branches of all major banks, in addition to online lenders. The New York lenders on this list all offer something a little different - Popular Community Bank and Apple Bank are New York-based and understand the unique financial needs of New Yorkers. Popular offers secured, unsecured, and credit-building loans loans up to $100,000. Apple Bank's lack of fees and cap on its APR may make it a good choice for people who want to participate in a simple personal loan process. Finally, Lendzi's quick online application makes it easy to choose a loan.