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Find the Best Personal Loans in Albuquerque, NM

Personal loans are a helpful tool for those who need money for a variety of financial situations — from funding a wedding to purchasing a car. Choose one with the lowest interest rate to reduce your long-term costs. The list below provides our recommendations for the best lenders in Albuquerque.

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by Sandi Pope ConsumerAffairs Research Team

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Top 11 Albuquerque Personal Loan Companies

Best Egg Read 1,483 Reviews

Offers personal loans up to $35,000. Easy online application. Get money in your account in as little as one day upon approval and verification. Recommended minimum debt of $5,000 for debt consolidation.

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Next Day Personal Loan Read 60 Reviews

Lending network for personal loans up to $40,000. Apply in under two minutes to start their simple, three-step process: apply, qualify, get funded. Funds available as soon as the next business day.

Get Pricing Call Now Toll Free (833) 985-2116
FreedomPlus Read 506 Reviews

Offers personal loans up to $50,000. Underwrites consumer loans under Freedom Financial Network LLC. Recommended minimum debt of $10,000 for debt consolidation.

Navy Federal Credit Union Read 587 Reviews

Navy Federal Credit Union offers financial services to members of the Armed Forces, Coast Guard, National Guard and DoD, as well as their families and households. They offer perks like mortgages with 100 percent financing.

OneMain Financial Read 3,086 Reviews

Offers secured and unsecured loans from $1,500 to $20,000. APRs range from 18% to 35,99%. Loan terms from 24 to 60 months. Charges an origination fee on all loans.

OppLoans Read 190 Reviews

Lender specializing in installment loans. Offers loans in 12 and offer loan terms from nine to 36 months. Average APR is 160%, and borrowers can borrow between $500 - $4000, depending on where they live.

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Don Dinero Financial Read Author Review

Offers a fast online application process. Provides cash the same day as approval. Allows the borrower to choose their payment day each month. Requires no collateral.

Nusenda Credit Union Read Author Review

Accepts online and in-person personal loan applications. Offers low interest rates and low payment options with flexible term periods. Includes free fraud resolution services for members.

Rio Grande Credit Union Read Author Review

Offers flexible terms for loans. Reduces interest rates for customers who use other RGCU services and for those who use direct deposit to pay. Allows customers to choose between signature loans and secured loans.

Southwest Financial Read Author Review

Offers personal loan options from $500 to $15,000. Provides secured loans for larger loan amounts. Locally owned and operated.

U.S. Eagle Federal Credit Union Read Author Review

Allows customers to take out a loan with no collateral. Offers loans starting at $300 with terms up to five years, determined by credit history and income. Provides debt protection for members who qualify.

albuquerque personal loans skyline

Residents of Albuquerque can use personal loans for many financial situations. Personal loans are popular with people who want to avoid using a credit card for major purchases. With personal loans, consumers can keep their debt from rising, avoid fluctuating rates and increase their credit score over time by paying their loans on time. If you or a loved one needs to make a substantial purchase for anything from a vacation to a dream wedding, check out our guide to the best personal lenders in Albuquerque.

Choosing a personal loan in Albuquerque

There are many different types of personal loans to choose from, making it difficult to know which one is best. Each financial situation yields a different option for the consumer in Albuquerque, such as our examples below.

  • Co-signed loan: For students attending the University of New Mexico or the University of Albuquerque, this type of loan is helpful for living expenses. As most students don’t have a credit history, an adult who has established credit can co-sign this personal loan.
  • Secured personal loan: When you need to purchase a vehicle, a secured personal loan — in this instance, a secured auto loan — can cover the cost. This loan option has a lower interest rate because the lender can seize an asset if you default on the loan.
  • Fixed-rate loan: For those who are planning a wedding at a venue like Casas de Suenos Old Town Historic Inn, a fixed-rate loan is best. Fixed-rate loans typically have longer repayment terms, and the loan stays at the same interest rate throughout the repayment period.

State regulation for personal loans in Albuquerque

The State of New Mexico has several regulations for personal loans, such as:

  • A 175% interest rate cap is mandatory on personal loans
  • Borrowers have the right to information about loan total costs
  • Borrowers can develop a credit history on personal loans

Finding an Albuquerque personal loan lender

Finding the best personal lender in Albuquerque isn’t easy. A multitude of lenders offer personal loans. It’s essential to take the necessary time to research each lender so you can find the right one for your financial situation. Gather quotes and thoroughly read reviews to understand what each type of personal loan offers. It would also benefit you to read any complaints registered with the Consumer Financial Protection Bureau to avoid encountering a similar problem.

Before signing a loan contract, carefully study the fees, term period and interest rates so you understand the total cost, repayment terms and additional fees.

Albuquerque personal loan FAQ

How can I get a personal loan in Albuquerque with poor credit?
Most online companies and credit unions don’t have minimum credit requirements, but the interest rate, loan term or loan amount all can be affected by bad credit. If you are still experiencing problems getting approved for a personal loan, you may want to explore a payday loan.
What is the cheapest way to borrow money in Albuquerque?
The interest rate that a borrower receives for a personal loan in Albuquerque depends on their credit history. For those with excellent credit, expect an interest rate of 10% to 12%, while others can expect interest rates up to 18%.
Can I get a loan with a credit union in Albuquerque?
Yes, you can. Credit unions offer competitive interest rates, making them a great choice — especially for those who need a large loan amount.
Are personal loans a good idea?
As long as you can repay a personal loan, it's a good way to cover large expenses. Whether remodeling your home, flipping a home in one of Albuquerque’s up-and-coming neighborhoods, paying for large medical bills or funding a wedding, Albuquerque personal loans can help.

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    Albuquerque personal loan company information

    Don Dinero Financial

    Don Dinero Financial is a locally owned lender that offers fast applications for personal loans in Albuquerque. The lender provides cash the same day as approval. Approved borrowers can choose the day of the month they would like their monthly payments to be, which helps them to budget properly according to their needs.

    • Address: 3005 Coors Blvd. SW, Albuquerque, NM 87121; Multiple locations
    • Phone: (505) 877-6666
    • Hours: M - Sat: 9:30am - 6:30pm
    • Website:
    Southwest Financial

    Southwest Financial is a small, locally owned and operated loan company. The company has 30 years of experience and provides loans of up to $15,000. The company requires a credit check that must be done in-person with a lending specialist.

    • Address: 5316 Menaul Blvd. NE, Albuquerque, NM 87110; Multiple locations
    • Phone: (505) 881-6899
    • Hours: M - F: 9am - 5pm
    • Website:
    Nusenda Credit Union

    Nusenda Credit Union offers loans with low interest rates to qualified customers, flexible term periods and multiple repayment options. Applying for a loan online is easy, and you can track the loan process by using the company's website. The lender also offers online chat with its loan staff.

    • Address: 3200 La Orilla Road NW, Ste. C1, Albuquerque, NM 87120; Multiple locations
    • Phone: (505) 889-7755
    • Hours: M - Th: 9am - 5pm; F: 9am - 6pm; Sat: 9am - 1pm
    • Website:
    U.S. Eagle Federal Credit Union

    U.S. Eagle Federal Credit Union exclusively offers unsecured personal loans. A borrower's maximum loan amount, interest rate and payback terms are determined based on their credit and income. The minimum personal loan is $300, and loan terms can be up to five years. Qualified members can receive debt protection, and new customers can take advantage of the first-time borrower program.

    • Address: 3939 Osuna Road NE, Albuquerque, NM 87109
    • Phone: (505) 342-8888
    • Hours: M - F: 8:30am - 5:30pm; Sat: 9am - 4pm
    • Website:
    Rio Grande Credit Union

    Rio Grande Credit Union offers signature loans and share certificate-secured loans. Share certificate-secured loans use cash and investment accounts as collateral, allowing the borrower to request up to the total amount in those accounts. Customers can get reduced interest rates if they use other RGCU services or if they pay loans through direct deposit. Exact amounts and terms vary, but RGCU representatives can help customers choose between multiple offers.

    • Address: 1401 San Pedro Drive NE, Albuquerque, NM 87110
    • Phone: (505) 262-1401
    • Hours: M - Th: 9am - 5pm; F: 9am - 5:30pm; Sat: 9am - 1pm
    • Website:
    by Sandi Pope ConsumerAffairs Research Team

    Sandi Pope previously worked in the nonprofit sector as an advocate for environmental and social change and believes information access is a human right. As a member of the ConsumerAffairs Research Team, she seeks to provide consumers with the necessary information needed in making life-altering decisions.