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Find the Best Personal Loans in Indianapolis, IN

When the unexpected happens, Indiana residents can get support through a personal loan. Personal loans help you cover large expenses when you don’t have the funds available. Before settling on a lender in Indianapolis, compare your options to find the best rates and lowest fees.

Top 10 Indianapolis 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.

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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.

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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Eagle Finance Read Author Review

Provides fast personal loans from $1,000 to $10,000 with fixed, regular monthly payments between eight and 24 months. Offers loan terms that are in between bank loans and payday loans.

Financial Health FCU Read Author Review

Focuses on building customers’ financial health from the ground up. Offers personal loans with generous credit limits and fixed rates as low as 10% with low minimum payments.

FORUM Credit Union Read Author Review

Offers fixed-rate personal loans up to $40,000. Provides fixed interest rates as low as 8.24% with terms between 41 and 84 months. Online loan calculator and bill pay available.

Horizon Bank Read Author Review

Offers the Horizon Bank Fresh Start program for loans from $1,000 to $10,000. Provides same-day money for approved loans. Focuses on providing excellent customer service.

Indiana Members Credit Union Read Author Review

Offers secured loans with rates as low as 3.25% and unsecured loans starting at 13.5%. Accepts online loan applications.

Indianapolis personal loans skyline

People use personal loans for many different reasons, such as planning a wedding at Laurel Hall, paying off IU Health University Hospital medical bills or renovating a home in Lockerbie Square. Also, borrowing from a personal loan company can be a better option than putting more money on credit cards. This is because some personal loans have fixed monthly payments and better long-term options.

Picking a personal loan

Lenders offer a wide selection of loan types for many situations, including fixed-rate, changing-rate, long-term and cash loans. Some of the most common options are:

  • Variable-rate loan: Variable-rate loans are a great choice if you are thinking of remodeling a home in Lockerbie Square to flip in a small amount of time. Choosing a variable-rate loan with a lower initial interest rate can end up saving you a lot of money if you pay the loan back quickly.
  • Fixed-rate loans: Fixed-rate loans offer straightforward costs that make them easier to budget for over time. These personal loan types are good for paying off medical bills.
  • Secured loan: Auto loans are the most common form of a secured personal loan. These loans require collateral to borrow. In the case of an auto loan, the car itself serves as collateral.
  • Unsecured loan: An unsecured loan is the most popular personal loan because it doesn't require collateral from the borrower.
  • Co-signed loan: With a co-signed loan, you add another person with better credit to your contract to get better rates. These loans work best for students who are attending a school like Indiana University and need money for living expenses.

State requirements for loans in Indianapolis

Indiana caps interest rates for most loans at 21%, although that can change for some situations. In Indiana, it is a felony to charge more than a 72% annual percentage rate (APR), but small loans or payday loans have different laws.

Finding a personal loan company in Indianapolis

Start your search for lenders in Indianapolis by understanding what type of loan you need. Many lenders specialize in a specific type of loan, including bad credit loans, collateral loans, fast cash loans, online loans and installment loans.

You should get quotes from at least three lenders in Indianapolis. After you receive your quotes, compare them to decide which one works best for your situation. We recommend choosing a lender that offers:

  • No origination fees or prepayment penalties
  • Low interest rates
  • Loan terms between 36 and 72 months
  • Positive company reviews

You should also check for registered complaints to make sure the Indiana loan company’s business practices are fair and legitimate. Even small increases in rates and fees add up to a lot over time, so comparing options between a few companies is the best way to save money in the long run.

Indianapolis personal loan FAQ

What credit score do you need for a personal loan?
Most companies require at least a 580 credit score for bad credit loans in Indiana. Loans with better rates require scores of at least 660.
Can I get a loan with a credit union in Indianapolis?
Yes, most credit unions provide personal loans. Credit unions often offer lower rates than traditional lenders, making them a good option for people on a budget.
Are personal loans a good idea?
Personal loans can be helpful as long as you have a plan in place for repayment. If you are desperate for cash and unsure how to pay the loan back once you take it out, we do not recommend personal loans.

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    Indianapolis personal loan company information

    FORUM Credit Union

    FORUM Credit Union offers fixed-rate personal loans up to $40,000. Its loans do not include any origination fees or prepayment penalties, and rates start as low as 8.24% fixed with terms between 41 and 84 months. Borrowers can apply for personal loans online through its website.

    • Address: 120 Monument Circle, Indianapolis, IN 46204; Multiple locations
    • Phone: (317) 558-6000
    • Hours: M - F: 9am - 5pm
    • Website:
    Horizon Bank

    Horizon Bank offers a loan service guarantee that promises same-day money for approved loans. Horizon also has a Fresh Start Loan Program that is perfect for someone looking to establish credit or get their credit record back on track. The Fresh Start program does not require a credit check and provides between $1,000 and $10,000 for 24 to 60 months.

    • Address: 8455 Keystone Crossing, Indianapolis, IN 46240; Multiple locations
    • Phone: (317) 452-8050
    • Hours: M - F: 9am - 5pm
    • Website:
    Indiana Members Credit Union

    Indiana Members Credit Union is the largest credit union in central Indiana, maintaining 27 local branches that serve more than 125,000 members. IMCU offers secured loans with rates as low as 3.25% and unsecured loans starting at 13.5%. Through its online application process, customers can easily see if they’re eligible for IMCU’s personal consumer loans.

    • Address: 136 N. Delaware St., Indianapolis, IN 46204; Multiple locations
    • Phone: (317) 635-7729
    • Hours: M - Th: 8am - 4pm; F: 8am - 5pm
    • Website:
    Financial Health FCU

    Financial Health FCU's personal loans have fixed rates as low as 10% and low minimum payments. Financial Health also offers members free home banking and free online bill payment to make banking even more convenient.

    • Address: 1515 N. Senate Ave., Indianapolis, IN 46202; Multiple locations
    • Phone: (317) 559-7272
    • Hours: M - Th: 9am - 4:30pm; F: 8am - 6pm
    • Website:
    Eagle Finance

    Eagle Finance provides fast personal loans from $1,000 to $10,000 with fixed, regular monthly payments lasting between eight and 24 months. In addition to traditional personal loans, Eagle Finance also offers loans for bad credit. Its loan terms are somewhere between traditional bank loans and payday loans.

    • Address: 9747 E. Washington St., Indianapolis, IN 46229; Multiple locations
    • Phone: (317) 252-0001
    • Hours: M - F: 8:30am - 5:30pm
    • 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.