A small or large personal loan for anytime, any reason.
Rates as low as 8.99% APR for up to 36 months!
What is a personal loan? Personal loans are great to cover your lifestyle needs through low monthly payments for those large out-of-pocket or unexpected expenses such as:
- Vacations
- Large household purchases
- Tuition
- Medical deductibles
- Auto repairs
- Home repairs
- Wedding expenses
If you are looking for a loan to consolidate credit card debt, our personal loan options can also help you reduce your outstanding debt into a single loan. Our team of experts can provide a personal loan review to show you how it could be the best way to consolidate debt. You'll find we have some of the best low interest rate personal loans around!
Options
Fixed-Rate Personal Loan
- Variety of terms up to 60 months based on loan amount
- Low-fixed rate based on term, balance and credit history
- No collateral required
- Easy repayment options
Personal Line of Credit
- No annual fee
- Borrow up to $20,000
- Funds easily available to you when you need them through Digital Banking
- Acts as overdraft protection for your LOC checking account
- Minimum payment is 3% of the outstanding balance
Rates
When you compare us against personal loans from banks and other personal loan providers, you'll find we have some of the best personal loan rates around. We offer competitive rates for both short term personal loans and long term personal loans as well.
| Personal Loans/Lines of Credit | ||||
| Effective Date: Sunday, May 28th, 2023 | ||||
| Loan Type | APR As Low As | Term | Minimum or Maximum | Note |
| Personal Loan | 8.99% | up to 36 Months | $30,000 Max | Fixed Rate |
| Personal Line of Credit | 9.75% | up to 48 Months | $30,000 Max | Fixed Rate |
| Personal Loan | 10.00% | up to 60 Months | $30,000 Max | Fixed Rate |
| Personal Line of Credit | 13.49% | N/A | $20,000 Max | Variable Rate |
Example: A loan amount of $7,500 with a rate as low as 8.99% for 36 months would have an approximate monthly payment of $238.00. APR = Annual Percentage Rate Rate and term may vary based on credit score. | ||||
See Why Our Personal Loan Might Be a Better Option
How does a personal loan work? The table below shows why a personal loan from LOC might be the best way to consolidate debt by reducing your monthly payments for settling debt.
*Rates based on individual credit history, amount, and term of loan. Loans cannot be used to pay on existing loans at LOC Credit Union. New money only. Estimated monthly payment on a loan at 7.49% APR equals $31.20 per $1,000 borrowed.
How to Apply for a Personal Loan
If you’re interested in applying for a personal loan, you can get the process started today online. If you prefer, come into a branch for a free personal loan review or call us at 800.837.4562
Managing Debt
- Looking To Pay Down Your Debt Quicker?
At LOC, we want to continue to help our members find a winning solution to getting out of debt quickly.
- Personal Loans vs Credit Cards: Which Is Best For Your Situation?
Find out which option is best for you and your finances.
- Personal Loans Are They Right For Your Financial Needs?
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- Personal Loans vs Credit Card Balance Transfers: Which is Right for You?
Are you facing an uphill battle against debt that you just can’t seem to win? Found out which option is best for you and your finances.
- Avoiding The Pitfalls of 0% Financing
Before making a decision on a 0% financing offer, it’s important to review some of the pros and cons and make sure you can financially afford to go that route.
- Debt Consolidation: Is It Right For You?
Are you trying to eliminate debt and dig yourself out of a financial hole that seems to be getting deeper every day? Have you thought about consolidating your debt?
- How to Recover From and Avoid a Financial Setback
Financial setbacks come in all shapes and sizes. Take these steps to get your finances back on track for the future.
- Budgeting Basics Everyone Should Know
If you're looking to gain more control over your spending and begin working toward your financial goals, you should strongly consider following a budget.
