Whether you're planning a home renovation, a dream wedding, or need financial assistance for a significant expense, personalized loans of Huntington Bank can accommodate your requirements. If you're burdened with high-interest debt, a personal loan can also be used for debt consolidation. Discover more about their offerings and conveniently apply online or in person.

Features

1. Competitive Personal Loan Rates. Huntington provides competitive personal loan rates, ensuring qualified customers receive favorable interest rates that remain fixed throughout the loan term. The unsecured personal loan interest rate range is 8.97%-25.00% APR. Deposit secured personal loan interest rate range is 8.26%-25.00% APR.
2. Flexible Payment Options. For added convenience, borrowers have the flexibility to select the date of their first payment, allowing for a window of up to 60 days after closing the loan.
3. Flexible Terms. To further accommodate individual financial circumstances, Huntington assists customers in selecting a loan term that aligns with their budgetary needs, providing manageable payments.
4. Online Account Management. With online account management, customers can save time and effort. They can easily view their loan balance, track transaction history, and conveniently make payments through the digital platform by accessing their personal loan account online. This streamlined process enhances convenience and efficiency for borrowers.

Huntington Bank Personal Loan Options

At Huntington, customers have access to a variety of personal loan options. The unsecured personal loan option allows individuals to obtain a loan based on their credit report, while the secured personal loan option is partially based on the value of personal assets. This flexibility enables borrowers to choose the loan type that aligns best with their financial requirements.

Unsecured Personal Loans

For those seeking an unsecured personal loan, it can be utilized for various purposes such as home repairs, medical expenses, debt consolidation, and more. Moreover, opting for this loan type can potentially reduce monthly payments and save money over the loan's duration. Eligibility for this loan is determined by factors such as credit score, debt-to-income ratio, and other financial considerations. Depending on qualifying factors, borrowers can access up to $50,000 with a fixed interest rate and flexible payment options.

Secured Personal Loans

The deposit-secured personal loan option offers the advantage of lower interest rates as it is backed by collateral. This loan allows individuals to finance personal expenses, benefit from reduced interest rates, maintain their savings goals, and simultaneously build their credit through consolidated monthly payments. Huntington accepts collateral as a Huntington Certificate of Deposit (CD), Huntington Savings Account, or Huntington Money Market Account. With the deposit-secured loan, borrowers can potentially borrow up to the value of their deposit, which can be as high as $500,000, while enjoying the convenience of consolidated monthly payments.

Pros and Cons

How to Apply for a Huntington Bank Personal Loan?

You can apply online if you are already the bank's client or in person.

To ensure a smooth application process for a personal loan, it is advisable to consider the required documents in advance. You may contact the lending center at +1 (800) 628-7076 or reach out to your local branch for personalized guidance on the specific documentation needed for your application.

Best places to borrow a loan with bad credit

Upgrade

Upgrade is a prominent online lender that offers personal loans to borrowers with bad credit. They provide loan amounts ranging from $1,000 to $50,000, making them suitable for various financial needs. The minimum credit score required by Upgrade is relatively low, typically around 580. This makes it accessible to individuals with a less-than-stellar credit history. One notable advantage of Upgrade is its flexible repayment terms, which can extend up to five years. This longer repayment period allows borrowers to manage their monthly payments more effectively. However, it's worth noting that Upgrade charges origination fees ranging from 2.9% to 8%. Additionally, while they do not have any prepayment penalties, borrowers should be aware of the interest rates, which can be relatively high for individuals with bad credit.

Upstart

Upstart is another online lender that specializes in providing loans to borrowers with bad credit. Their loan amounts range from $1,000 to $50,000, allowing borrowers to access the funds they need for various purposes. Upstart utilizes a unique underwriting model that takes into account factors beyond just credit scores, making it more inclusive for individuals with limited credit history or low credit scores. The minimum credit score required by Upstart is typically around 580. One of the significant advantages of Upstart is its soft credit check, which means that applying for a loan does not negatively impact your credit score. Repayment terms offered by Upstart range from three to five years, providing borrowers with flexibility. While they do charge origination fees of up to 8%, it's important to note that they don't impose any prepayment penalties. However, borrowers with bad credit should expect higher interest rates.

LendingPoint

LendingPoint is a bad credit lender that offers personal loans ranging from $2,000 to $36,500. They consider borrowers with credit scores as low as 585, making them accessible to individuals with bad credit. LendingPoint prides itself on providing fast funding, often disbursing funds within one business day. Their repayment terms typically range from two to four years, allowing borrowers to tailor their loan duration according to their needs. It's important to note that LendingPoint does charge origination fees that can be up to 6%. They also have a slightly higher interest rate compared to traditional lenders, which is to be expected when borrowing with bad credit. However, they do not impose any prepayment penalties, enabling borrowers to pay off their loans early if they desire.

Universal Credit

Universal Credit is an online lender that specializes in bad credit loans, offering loan amounts ranging from $500 to $15,000. Their minimum credit score requirement is relatively low, typically around 550, making them accessible to borrowers with poor credit. Universal Credit offers repayment terms ranging from six months to five years, allowing borrowers to choose a duration that aligns with their financial situation. While they charge origination fees, the amount may vary based on the borrower's creditworthiness. One notable advantage of Universal Credit is its willingness to consider applicants who have previously filed for bankruptcy. However, borrowers should be aware that the interest rates associated with bad credit loans from Universal Credit may be higher compared to traditional lenders.

OneMain Financial

OneMain Financial is a well-established lender that specializes in bad credit loans. They offer loan amounts ranging from $1,500 to $20,000, making them suitable for various financial needs. OneMain Financial requires a minimum credit score of 600, slightly higher than some of the other lenders in this category. However, they have a reputation for considering other factors beyond credit scores when evaluating loan applications. OneMain Financial provides repayment terms that range from two to five years, allowing borrowers to select a term that fits their budget. It's important to note that OneMain Financial charges origination fees, which can vary depending on your residence state. While they do not disclose their interest rates upfront, borrowers with bad credit should expect higher rates.

Avant

Avant is an online lender that specializes in offering personal loans to individuals with bad credit. They provide loan amounts ranging from $2,000 to $35,000, catering to various financial needs. Avant has a minimum credit score requirement of 580, making them accessible to borrowers with less-than-ideal credit histories. Repayment terms offered by Avant typically range from two to five years, giving borrowers flexibility in managing their monthly payments. While Avant charges origination fees up to 4.75%, they do not impose any prepayment penalties. It's important to note that Avant's interest rates can be relatively high for borrowers with bad credit. However, they provide a transparent prequalification process that allows borrowers to check their potential loan offers without affecting their credit scores.

Requirements

1. Social Security or Taxpayer Identification Number. This identification is essential for verifying your identity and complying with regulatory requirements.
2. Personal identification. Valid identification documents, such as a driver's license or passport, will be necessary to establish your identity.
3. Income information. Documentation reflecting your income, such as pay stubs, tax returns, or bank statements, will be required to assess your financial capacity to repay the loan.
4. Employment history. Details of your employment history, including your employer's name, job position, and duration of employment, are typically requested to evaluate your stability and ability to meet repayment obligations.

Ways to Receive the Money

Once Huntington Bank approves your personal loan application, the bank will typically disburse the loan amount to you through a method of your choice. Here are the common methods Huntington Bank may use to send you the loan amount.

1. Direct Deposit. Huntington Bank can transfer the loan funds directly into your designated bank account. This method offers convenience and allows for immediate access to the funds.

2. Check. The bank may issue a physical check for the loan amount, which can be mailed to your registered address. You can then deposit or cash the check as per your preference.

3. Transfer to Huntington Bank Account. If you have an existing Huntington Bank account, the loan funds can be transferred directly into that account.

How to Pay Off a Huntington Bank Personal Loan?

Once your personal loan application is approved, you will be granted a lump sum payment. Subsequently, you will repay the loan over a designated period through consistent fixed payments and a fixed interest rate.

Things to Consider

1. Loan Terms. Huntington Bank offers the flexibility of three- or four-year terms for their personal loans, allowing borrowers to select the repayment period that suits their needs.
2. Fees. Enjoy the benefit of no application or prepayment fees when obtaining a personal loan from Huntington Bank. This ensures a transparent borrowing experience without any additional charges.
3. Limited Availability. It's important to note that Huntington Bank's personal loans are currently only available in 11 states where the bank has a presence: Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia, Wisconsin, Minnesota, South Dakota, and Colorado. This geographical limitation may restrict access for individuals residing outside of these states.
4. Loan Amounts. Depending on the type of loan, borrowers can access up to $50,000 with an unsecured personal loan. Additionally, with secured personal loans, individuals have the potential to borrow up to $500,000, accompanied by the convenience of consolidated monthly payments.

Alternatives

Local Banks and Credit Unions

Local banks and credit unions have long been an essential part of many communities, providing financial services tailored to the needs of their members and customers. When it comes to personal loans, these institutions can offer several advantages over larger national banks and online lenders.

Online Lenders

Online lenders have gained popularity in recent years due to their convenience and quick application processes. Companies like SoFi and Prosper offer personal loans with competitive rates and various loan amounts.

Peer-to-Peer Lending Platforms

Peer-to-peer lending platforms such as LendingClub and Peerform connect borrowers directly with individual investors. These platforms often provide competitive interest rates and flexible loan terms.

Credit Cards

Depending on your credit limit and needs, credit cards can serve as an alternative solution for smaller personal expenses. Many credit cards offer promotional 0% APR periods or cash advances that can be utilized for short-term financing needs.

Editorial Opinion

Important

How to Choose a Lender

1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

3. Carefully review all the terms and conditions of your payday loan contract.

4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Additional Resources

• What Credit Score Do You Need for a Personal Loan?
• How to Get a Personal Loan in 7 Steps
• Personal Loan Pre-Approval
• How to Apply for a Personal Loan
• Personal Loan vs Personal Line of Credit

Sources

• LendEDU. Huntington Bank loan review 28.07.2023
• CNBC. Ways people use personal loans 28.07.2023
• Forbes. Personal loan statistics: average rates and debt in 2025 28.07.2023