A small or large personal loan for anytime, any reason to help you stay financially fit.
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:
- Large household purchases
- 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!
Fixed-Rate Personal Loan
- Variety of terms up to 72 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
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: Tuesday, May 21st, 2019|
|Loan Type||APR As Low As||Term||Minimum or Maximum||Note|
|Personal Loan||7.99%||up to 36 Months||$25,000 Max||Fixed Rate|
|Personal Loan||8.99%||up to 60 Months||$5,000 Min / $25,000 Max||Fixed Rate|
|Personal Loan||9.99%||up to 72 Months||$10,000 Min / $25,000 Max||Fixed Rate|
|Personal Line of Credit||11.90%||N/A||$20,000 Max||Variable Rate|
Example: A loan amount of $7,500 with a rate as low as 8.49% for 60 months would have an approximate monthly payment of $153.84.
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 consolidate debt by reducing your monthly payments for settling debt.
LOC Personal Loan*
Other Lender Loan or
Approx. Savings at LOC *
$10,000 loan at 7.99% APR
$10,000 loan at 18% APR for
$15,000 loan at 8.99% APR
$15,000 loan at 18% APR
|$25,000 loan at 9.99% APR
for 72 months:
Interest = $8,337
|$25,000 loan at 24% APR
for 72 months:
Interest = $22,388
*Rates based on individual credit history, amount, and term of loan. Loans cannot be used to pay on existing loans at LOC Federal. 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
- Looking To Pay Down Your Debt Quicker?
At LOC, we want to continue to help our members get Financially Fit Together and get out of debt quickly with a number of different options. LEARN MORE
- Personal Loans vs Credit Cards: Which Is Best For Your Situation?
Find out which option is best for you and your finances. Learn More
- Personal Loans Are They Right For Your Financial Needs?
Did you know? Not only can our personal loans get your finances in shape, they can also help you keep your finances in shape. Learn More
- 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. Learn More
- 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. Read More
- 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? Learn More
- 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. Learn More
- 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. Learn More