The best South Carolina personal loans offer competitive interest rates, fixed monthly payments, and reasonable fees or no fees at all. That said, you'll want to compare lenders based on their available loan amounts and how easy it is to get approved.
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Loan companies in South Carolina offer financing in-person and online, and it may be possible to access up to $50,000 or more depending on your income and goals. With the average credit score in South Carolina coming in at 675, most residents of the state could even qualify for personal loans for good credit with the best rates and terms. As you compare loans in SC, make sure you find a lender that offers the loan amount you need with rates and terms you can live with.
Because personal loans can have a major impact on your finances, you'll want to compare lenders and loan options side-by-side. You'll also want to compare your rates across multiple lenders to ensure you’re getting the best deal based on your credit history and financial situation. Our team of financial experts ranked lenders based on our ratings methodology for personal loans and found the best loans in South Carolina available today. This ratings methodology evaluates lenders based on loan length, APR, repayment terms, user experience, customer service, credit score history, banking and credit union use, and additional features.
Best Personal Loans in South Carolina - Full Overview
Whether you're in the market for loans for good credit or you're hopeful you'll find no credit check loans in South Carolina to choose from, here's an overview of the best financing options available in the state.
LightStream - Best Overall Loans in SC
LightStream is a highly-rated online lender that offers personal loans in South Carolina and elsewhere, and it made our list as the best overall due to its large loan limits and lack of fees. This lender lets applicants check their rate with no impact on their credit, and loans can be for up to $100,000 depending on the purpose. Like other lenders in our ranking, LightStream offers loans with fixed interest rates and fixed monthly payments that will not change over the life of the loan.
Loan amounts offered through LightStream vary based on the loan purpose, but it's possible to borrow up to $100,000 with no origination fees and a fixed monthly payment. Borrowers who get approved can qualify for interest rates from 7.99% to 25.99% with an auto-pay discount applied, and repayment terms can last up to 240 months based on eligibility.
The Bottom Line
LightStream is an excellent personal loan option for South Carolina residents with great credit and solid incomes. These loans are easily accessible online, and you can get fast funding sent directly to your bank account. Best of all, there are no origination fees or hidden fees.
While SoFi is known for offering student loan refinancing products, this fintech leader also offers personal loans that can be used for nearly any purpose. However, SoFi advertises its loans as a good option for debt consolidation due to their competitive interest rates, fixed monthly payments, and large loan amounts. The company even lets you check your rate with no impact on your credit in just 60 seconds, which can help you figure out if you should apply.
SoFi personal loans are offered in amounts from $5,000 up to $100,000, and interest rates range from 8.99% APR to 23.43% APR with the auto-pay discount applied. You may be able to repay your loan over 24 to 84 months depending on information provided to the loan company, and an origination fee of 0% to 6% can be deducted from your loan proceeds.
The Bottom Line
SoFi personal loans can be good for debt consolidation since they are offered in larger amounts up to $100,000 and interest rates are highly competitive. This company also makes it easy to apply and get funding online, so it's a good option for applicants who want convenience.
As the personal loan branch of the popular Rocket Mortgage franchise, Rocket Loans is a fully online loan company that offers fast and easy personal loans in South Carolina. Applicants can apply online and from the comfort of their homes, at which point they can get instant loan offers with competitive rates and no prepayment penalties. This lender even offers same day funding for consumers who are able to get their loan documents in order quickly, as well as lower loan amounts for South Carolina borrowers with low to medium funding needs.
Personal loans from Rocket Loans can be used for any purpose at all, and they come in amounts from $2,000 to $45,000. Repayment terms are offered in timelines of 36 or 60 months, and interest rates range from 9.116% with auto-pay to 29.99% without auto-pay. An origination fee of up to 9% of the loan amount can apply.
The Bottom Line
Rocket Loans is worth considering for personal loans in South Carolina since funding is fast and easy and you don't even have to visit a loan office. This lender can even get you same-day funding, and you can borrow as little as $2,000 and up to $45,000.
If you're looking for personal loans in South Carolina for bad credit, you should know that you can apply for funding online or within eight different OneMain Financial branches across the state. Either way, you should know that this lender offers fast and easy funding for nearly any reason, as well as fixed interest rates and fixed monthly payments you agree to ahead of time. While OneMain Financial says their loans are for debt consolidation, weddings, home projects and more, you can use them for any purpose.
OneMain Financial personal loans are available in amounts from $1,500 to $20,000 for eligible borrowers. Interest rates can range from 18.00% to 35.99%, and repayment terms are offered in 24, 36, 48 or 60 months. Origination fees of up to 10% of the loan amount are possible.
The Bottom Line
While OneMain Financial isn't the most competitive lender in our ranking, we selected it based on its loan options for fair and bad credit. If you need funding and your credit score isn't great, this lender may approve you for a personal loan online or within one of its South Carolina branches.
South Carolina State Credit Union has 23 different locations across the state as well as a robust online presence. While you do have to be a credit union member to apply for funding, most South Carolina residents are eligible based on their residence in a major metropolitan area of the state, or due to employment with state or local government. Either way, this credit union offers personal loans with competitive rates and terms to those who qualify.
Personal loans from South Carolina State Credit Union come with interest rates from 11.74% to 17.99%, which is competitive. However, the credit union does not list information like minimum or maximum loan amounts, nor do they provide an overview of any fees they charge. Note that you need to join the credit union to apply.
South Carolina State Credit Union can be a good option if you have a credit union relationship and you want to apply for funding in person with a loan officer. However, you'll want to read over rates and fees before you sign any loan documents.
South Atlantic Bank is another local lender in the state that offers personal loans and other types of funding. While you can apply for a loan online, this institution offers 12 physical branches you can visit in destinations like Myrtle Beach and Hilton Head. Note that the bank says you may have a better chance at getting approved for funding if you have an existing banking relationship already.
South Atlantic Bank offers personal loans and lines of credit, and their loans in particular come with no minimum or maximum loan amounts. The bank says that they offer competitive rates and terms, but they come up short in terms of publishing this information. South Atlantic does not share information on any loan fees that might apply.
Consider South Atlantic Bank if you want a personalized experience when you apply for funding in-person. However, make sure you read over loan documents to note your interest rate and any fees that might apply.
Main Features of The Best Personal Loans in South Carolina
Minimum Credit Score
7.99% to 25.99% with auto-pay
$5,000 to $100,000
36 to 240 months
8.99% APR to 23.43% APR with auto-pay
$5,000 to $100,000
24 to 84 months
9.116% with auto-pay to 29.99% without auto-pay
Up to $45,000
36 or 60 months
18% to 35.99% APR
$1,500 to $20,000
24, 36, 48, or 60 months
South Carolina State Credit Union
11.74% to 17.99% APR
South Atlantic Bank
No minimum or maximum
How to Choose the Best Personal Loans in South Carolina?
The best installment loans in South Carolina come with the lowest interest rates and fees possible, but they are also incredibly flexible. This means you get the chance to select your repayment term and your monthly payment amount upfront so it fits in well with your budget and lifestyle.
Loan Features: Look at each lender side-by-side and compare them based on loan terms, loan amounts, and loan use limitations.
Interest rates and fees: It's crucial to compare lenders based on their interest rates and fees, including hidden fees like origination fees or prepayment penalties.
Application process: Make sure to compare lenders based on how much information they need from you when you apply, whether you'll get a hard-pull or soft-pull credit score impact, funding time, and more.
Qualification process: Consider factors such as a minimum credit score, income requirements, co-signer/joint application optionality, or membership requirements before you apply.
Customer support: Make sure you understand what kind of customer service options are available, including whether you have the option to call the lender or get questions answered via online chat.
Online user reviews: Read user reviews on independent review sites like Trustpilot to gain insights into the experiences of previous customers.
Perks and Bonuses: Consider specified service offerings like payment flexibility, unemployment protection benefits, and advanced technology. For example, lenders with a mobile app may be more convenient to work with when it comes to monitoring your balance and making payments.
Reasons to Get a Personal Loan in South Carolina?
There are many reasons to consider getting a personal loan, and that's just as true in South Carolina as it is in any other state. Here are some potential reasons this type of funding can make sense:
College tuition and fees: A personal loan can fill in the funding gaps after financial aid and student loans have been utilized for higher education.
Debt consolidation: Use a personal loan with a fixed interest rate and monthly payment to consolidate high-interest debts from credit cards.
Dream weddings: Finance your southern dream wedding and pay it off with a fixed interest rate and set monthly payment over several years.
Home improvement projects: Remodel your kitchen, hurricane-proof your home, or add on another bedroom in your house to create more space.
Just in case: It never hurts to have access to a personal loan or line of credit so it's there when you need it.
How to Get a Personal Loan in South Carolina?
The best loans in SC typically come from online lenders, although you may find the lender you're considering offers branches you can visit in person as well. The steps below can help you get the funding you need either way.
Step 1: Run some preliminary numbers. Decide how much you want to borrow and use a loan calculator to see how much your monthly payment might be.
Step 2: Compare lenders. Look at the best personal loan companies in South Carolina to see which ones might be a good fit for your desired loan amount and credit rating.
Step 3: Check your rate online and without a hard inquiry. This step can help you compare rates across multiple lenders so you can get the best deal.
Step 4: Check for fees and fine print. Look closely at loan terms and watch out for origination fees, prepayment fees, and other hidden fees.
Step 5: Apply for a loan. Find the best personal loan you are eligible for, and move forward with an online application.
Step 6: Fill out your personal details. Share details like your full name, contact details, Social Security number, and employment data during the loan application process.
Step 7: See if you're approved. Receive notification that your personal loan application has been approved, which can take as little as a few hours.
Step 8: Wait for funding. Receive your loan funds electronically in your bank account, which can happen as soon as the same day.
Step 9: Start making payments according to the plan. Begin making on-time payments on your loan in order to increase your credit score over time.
Interest Rates of Personal Loans in South Carolina
The interest rates you'll pay for loans in SC depend on your credit score, your income, and other factors. However, you may also pay lower rates based on the type of lender you apply with. The chart below shows the average rates you can expect to pay across traditional banks, credit unions, and online lenders.
Average interest rates for personal loans
9.49% to 23.24% APR
7.74% to 17.99% APR
7.99% to 35.99% APR
How to Deal with Concerns About Your South Carolina Lender
If you borrowed money in South Carolina and ran into trouble or you had a bad experience with a lender when you applied, there are resources available to help you. In some cases, you can file a formal complaint against a lender that could result in government action. You may also be able to recoup fees or other charges you were assessed due to fraud.
Consider the following resources to remedy your situation if a South Carolina lender has you concerned:
File a complaint with the Consumer Financial Protection Bureau (CFPB). The CFPB says that, when you file a complaint with their portal, you typically receive a response from the company within 15 days.
File a consumer complaint with the Federal Reserve. This complaint form lets you instantly file a complaint against a financial institution.
If you need funding in South Carolina but you're not sure you want to take out a personal loan, there are other options to consider. Some come in the form of loan alternatives, but there are also funding sources available for South Carolina residents who are struggling.
Borrow against your car. It's possible to borrow money against the value of your car if you own it outright and you have a clean title. This borrowing option can come with high fees and interest rates, but it may be worth considering when other options don't work.
Consider a credit card. Credit cards give you a line of credit you can use for purchases, but they come with high interest rates that can make borrowing costly over the long run.
Tap into home equity. If you have considerable equity in a home you own, you can consider accessing cash you need with a home equity loan or home equity line of credit (HELOC). These borrowing options tend to be affordable, but you'll have to put up your home as collateral.
If you've been searching for loans in South Carolina and you haven't found the right lender yet, we feel confident the loan companies in South Carolina that made this ranking could work for your needs. That said, you should take the time to check your rate and compare other loan terms with at least two of the lenders on our list before you commit.
Ideally, you'll settle on a South Carolina loan with a low interest rate, no fees (or low fees), and a monthly payment you can easily afford.
Frequently Asked Questions(FAQ)
What do I need to get a $10,000 personal loan?
To get a $10,000 personal loan, you'll need to have an established income you can prove, a Social Security number, and a bank account in most cases. If you have a fair credit score or higher, you have an even better chance at approval.
What is the easiest type of personal loan to get approved for?
Online loans are often easiest to get approved for since you can "check your rate" and gauge your approval odds online before you apply. You may also have a good chance at loan approval with a credit union if you're already a member.
How long does it take to get a personal loan in South Carolina?
Some lenders on our list offer fast funding as soon as the day you apply. However, loan funding timelines do vary by company.