Capital One personal loans: 2025 review
A personal loan can be used to cover the cost of an unexpected emergency expense, pay for a large purchase or consolidate high interest debt. If you currently bank with Capital One, you may consider starting there when shopping. Unfortunately, Capital One no longer offers personal loans — but it does have a variety of other products, including credit cards, mortgages and auto loans, for the most common financing needs.
While you won’t be able to borrow a personal loan with Capital One, there are many other lenders to consider when comparing personal loan rates. Explore personal loan alternatives to Capital One from other banks and bank-backed online lenders.
Alternatives to Capital One loans
There are several personal loan options that are strong alternatives to Capital One. When comparing lenders, it is important to focus on more than the advertised APR. You should also consider how your loan term will affect your monthly payment and overall costs. Additionally, pay attention to any fees that the lender enforces.
| SoFi | LightStream | Wells Fargo | |
|---|---|---|---|
| Bankrate score | 4.7 | 4.5 | 4.5 |
| Better for | Optional fees | Fast funding | Range of repayment options |
| Loan amount | $5,000–$100,000 | $5,000–$100,000 | $3,000–$100,000 |
| APR range | 8.99%-29.49% | 6.94%-25.29% | 6.99%-24.49% |
| Loan term | 24 months-84 months | 24 months-84 months | 12 months-84 months |
| Fees | Optional origination fee | No fees | Late fees |
| Minimum credit score | No requirement | 695 | Not Specified |
| Time to funding | Same-day funding available | Same-day funding available | 1-3 business days |
SoFi
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An online bank, SoFi focuses on providing a strong customer experience. It offers flexible-use unsecured personal loans with repayment terms of up to [shortcode] months and generous loan amounts of up to [shortcode]. Additionally, SoFi doesn’t charge any mandatory fees for its loans, but you are able to opt for an origination fee for a discount to your APR. You will likely need a healthy credit score to qualify, but SoFi states it does not have a minimum credit score for approval.
LightStream
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LightStream is a strong option for a borrower with strong credit who is looking for a large personal loan. Like SoFi, LightStream offers loans of up to [shortcode]. Coupled with its extensive repayment terms, LightStream is a good fit for a large purchase you intend to spread out the cost of. More than that, it boasts same-day funding and approvals for qualified borrowers, which can help if you are in a financial pinch.
Wells Fargo
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Like Capital One, Wells Fargo is one of the most recognized banks in the United States. It stands out for its range of available repayment options and in-person support for most borrowers nationwide. It does enforce a late fee, and borrowers can benefit from minimal additional fees and low interest rates. The repayment terms are flexible and fall in line with your loan amount. This can make it easy to find a repayment plan that fits your needs and monthly budget.
Why doesn’t Capital One offer personal loans?
Capital One has stepped away from issuing personal loans, but still offers a variety of other options, including credit cards, bank accounts and auto loans. You can explore personal loan alternatives for more options. If you are an existing customer with a personal loan through Capital One, you can still manage your loan and reach customer service by phone at 877-383-4802 or by mail.
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Figure personal loan alternatives: 2024 review
Figure personal loan alternatives: 2024 review