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Best Personal Loans in Cincinnati, OH

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Written by Sandi Pope

Personal loans can help anyone facing an unexpected expense. If you need a personal loan, choose a lender that offers a low interest rate so you can pay less over time. We created a guide to the best personal loan companies in Cincinnati to help you find the best lender for your needs.

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Top 11 Cincinnati Personal Loan Companies

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Cincinnati residents use personal loans for a variety of financial situations, including remodeling a home, covering large hospital bills or paying for a wedding. A personal loan is often a better option than a credit card for these expenses — personal loans typically have better interest rates than a credit card, which saves you significant cash in the short and long term.

Picking a personal loan in Cincinnati, OH

There are a variety of personal loans you can utilize, and the best fit for you varies by your financial situation. Whether you're looking to remodel a home in Mount Lookout or Columbia Tusculum or you need help covering an emergency bill from Good Samaritan Hospital or University of Cincinnati Medical Center, a well-chosen personal loan can help.

  • Co-signed loan: Students attending the University of Cincinnati or Xavier University can use co-signed loans to provide money for living expenses. Since young students usually don’t have much credit history, a parent or guardian with established credit also signs for this type of loan, providing the student with cash and building their credit at the same time.
  • Fixed-rate loan: This type of loan works well for those that need money for an event, like a wedding at Pinecroft at Crosley Estate. With a fixed-rate loan, your rates do not fluctuate over time, so you can expect to pay the same amount every month.
  • Secured loan: A secured loan is a loan backed with collateral. These are the most common type of personal loans. An example of a personal secured loan is an auto loan, where the loan’s collateral is the purchased car.

State regulation for loans in Cincinnati

The Ohio Consumer Installment Loan Act defines specific terms related to personal loans. In Ohio, interest rate laws cap interest at 8%, but the lender and borrower may legally be able to agree to a higher interest rate when:

  • The amount of the principal is more than $100,000
  • The payment is registered under the Securities and Exchange Act of 1934
  • The borrower is requesting a business loan
  • The debt is secured with a deed of trust or mortgage or the debt is payable on demand or payable in one installment and isn’t secured

Finding a good loan company in Cincinnati

Finding the best personal lender in Cincinnati doesn’t need to be difficult. Take the time to research your options. You should choose the lender that offers the loan that best suits your situation, and it’s important to gather information from several lenders on loan terms and interest rates to find the best deal. Read reviews of lenders to understand the type of customer service past clients have received.

All of this research helps you make the most informed decision. It would be beneficial to read any reports that have been registered with the Consumer Financial Protection Bureau, as well.

Cincinnati personal loan FAQ

What credit score do you need for a personal loan?
If you're applying for a personal loan, you typically a credit score of 620 or higher. However, some lenders offer a share certificate secured loan for those who are looking to reestablish their credit. These loans for bad credit are beneficial for students with no credit history or those who have gone through financial difficulties that affected their credit scores.
What is a good interest rate on a personal loan in Cincinnati?
Anything less than the maximum 8% interest rate in the state is a good rate for a personal loan. Many of the lenders listed above offer a 5% to 6% rate on many of their personal loans.
Can I get a loan with a Cincinnati credit union?
Yes. Credit unions may offer lower interest rates than traditional lenders, which makes them an excellent choice for those requiring large loan amounts for big expenses like a wedding.

Not sure how to choose?

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    Cincinnati personal loan company information

    First Financial Bank

    First Financial Bank offers unsecured personal loans up to $15,000 with terms of 12 to 60 months. Applicants can use the bank’s quick and easy online application for loans up that amount. For more significant amounts, individuals must visit a local branch. There are no credit requirements to obtain a personal loan at First Financial Bank.

    • Address: 1 E. Fourth St., Cincinnati, OH 45202; Multiple locations
    • Phone: (513) 832-6300
    • Hours: M - F: 9am - 5pm
    • Website: bankatfirst.com
    Greater Cincinnati Credit Union

    Greater Cincinnati Credit Union offers two different types of personal loans to its customers in Cincinnati. The credit union's long-term personal loans provide up to $20,000 and terms up to 72 months. Greater Cincinnati Credit Union's short-term personal loans are offered for up to 18 months. The bank uses a tiered system that influences the rate that the customer receives, which is anywhere from 5.25% to 9.75% for regular short-term loans.

    • Address: North College Hill 6899 Hamilton Ave., Cincinnati OH 45224; Multiple locations
    • Phone: (513) 559-1234
    • Hours: M - F: 9:30am - 5:30pm; Sat: 9am - 12pm
    • Website: gccu.org
    Kemba Credit Union

    Kemba Credit Union offers different types of personal loans to suit all consumer needs in Cincinnati. The credit union provides customized payment terms on unsecured personal loans. Its share secured loan allows customers to use their bank share savings account as collateral to lock in a 3% interest rate.

    • Address: 1014 Vine St., Cincinnati, OH 45202; Multiple locations
    • Phone: (513) 762-5070
    • Hours: M - F: 8:30am - 5pm
    • Website: kemba.com
    New Horizons Credit Union

    New Horizons Credit Union offers signature loans with various loan terms and interest rates to suit each customer's needs. The credit union lets customers take out an annual loan of up to $2,500 that is repaid in 12 equal payments over the year. Its share certificate secured loans help people who are trying to reestablish their credit.

    • Address: 637 Vine St., Cincinnati, OH 45202; Multiple locations
    • Phone: (513) 562-6600
    • Hours: M - T: 8:30am - 4:30pm; W: 9am - 4:30pm; F: 8:30am - 4:30pm
    • Website: newhorizonscu.com
    Woodforest National Bank

    Woodforest National Bank offers many different types of consumer loans, including ReLi unsecured lines of credit and ReLi secured lines of credit. The secured revolving line of credit is secured by a certificate of deposit as collateral and has a fixed rate linked directly to a deposit account at the bank. Interest charges accrue during the duration of the loan. The unsecured revolving line of credit can be linked to three different accounts. Loan repayments are automatically taken from those accounts.

    • Address: 2801 Cunningham Drive, Cincinnati, OH 45241; Multiple locations
    • Phone: (513) 563-9500
    • Hours: M - F: 10am - 7pm; Sat: 10am - 4pm; Sun: 11am - 3pm
    • Website: woodforest.com