Personal Loans in Indianapolis, Indiana

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First Financial Bank Fifth Third Bank OneMain Financial
APR 6.49% to 15.74% 6.99% to 19.24% 18.00% to 35.99%
Borrowing limits $2,000 to $25,000 $2,000 to $25,000 $1,500 to $20,000
Terms 12 to 60 months 12 to 60 months 24 to 60 months
Origination fee Not specified None Ranges from $25 to $300 or 1.00% - 10.00% of loan amount.
Minimum credit requirement Not specified Not specified Not specified

First Financial Bank

First Financial Bank is an Indianapolis personal loan lender. Among the lenders in this roundup, the bank offers the lowest starting and maximum APR, making it an affordable option whether you need a small or midsize personal loan.

You could still receive a personal loan for more than $25,000, too. You’ll need to contact a First Financial Bank branch to learn more, though, as information online is sparse.

Overall, this lender offers a solid personal loan product, granted it’s unclear whether you’ll pay an origination fee on your loan and what credit requirements are.

How to qualify

First Financial Bank’s website doesn’t list many of its loan qualifications. The one limitation that is listed is that borrowers must be a resident of one of the following states:

  • Indiana
  • Illinois
  • Ohio
  • Kentucky

Typically, lenders will have additional requirements, such as minimum credit scores, minimum income amounts, limitations regarding the ratio of a borrower’s debt to their income and minimum ages for application.

Fifth Third Bank

Fifth Third Bank has more competitive APRs than OneMain Financial, though neither lender is clear on credit requirements for borrowers. A better comparison may be with First Financial Bank. At first glance, there’s not a huge difference between these two lenders’ personal loan products, except that First Financial Bank has a slightly better range of APRs.

However, although First Financial Bank claims you could qualify for more than $25,000, Fifth Third Bank is upfront that borrowers may qualify for up to $50,000 by visiting the bank’s Indianapolis branch and requesting a higher limit loan.

Fifth Third Bank doesn’t charge a prepayment penalty and has no annual fee or closing cost for their personal loan. Borrowers with a Fifth Third Bank savings or checking account may qualify for a fast approval through their mobile device too, with funds deposited the next business day.

How to qualify

Lenders typically keep their borrowing requirements a secret, but lenders like Fifth Third Bank usually require applicants submit income and employment information. Lenders may also have certain credit score requirements and limitations regarding the ratio between the borrower’s total amount of debt and income. Some lenders may also restrict loans in certain states and impose age limits of 18 to 21.

OneMain Financial

OneMain Financial has the highest APRs in this roundup. But it’s important to keep in mind that none of the lenders here disclose their credit requirements. Based on OneMain Financial APRs and the fact that it could charge you a high origination fee, you could reasonably suspect OneMain Financial to be more willing to lend to borrowers with less-than-perfect credit.

The lender is also upfront that, depending on your loan eligibility, you could be offered a secured personal loan. Secured loans are backed by collateral and can be a more affordable option for borrowers with only OK credit. The drawback, of course, is that you risk losing your collateral if you fall behind on payments.

Personal loans made by OneMain Financial can be approved and disbursed the same day borrowers apply. That’s fast. And borrowers can choose to pick up a check for loan proceeds at a local branch. In some cases, after review, borrowers with an outstanding OneMain Financial loan may qualify for another loan. The lender also offers Servicemembers Civil Relief Act benefits to eligible service members.

How to qualify

Like other lenders, OneMain Financial may ask personal loan applicants for their state of residence and their income when applying. They’re also likely to check your credit history and credit score and require documentation such as a paystub or a tax return.

Explore lenders with LendingTree

Although the above lenders have locations in Indianapolis, you could find better loan terms by taking your search online. LendingTree, a loan marketplace, may allow you to see offers from up to five lenders at once, depending on your eligibility.

Our partner lenders include loan companies based in Indianapolis and elsewhere and can help you better evaluate the types of loan terms you may qualify for. Keep in mind that LendingTree does not guarantee loan approval, however.

Get personalized rates

How to find bad credit personal loans in Indianapolis

It can be challenging to get a personal loan when you have a credit score below 670. However, there are lenders that advertise fair credit or bad credit personal loans or that publicly share their minimum credit score requirement.

When shopping loans intended for borrowers with this type of credit, you’ll notice higher offered APRs, as well as origination fees. This is because traditional personal loans are unsecured, and lenders are taking on more risk in lending to you.

That said, a secured loan can offer you better loan terms by minimizing the lender’s risk. Secured loans include secured personal loans and home equity loans. You might also research local federal credit unions, which can offer payday alternative loans, which are small short-term loans that are far more affordable and safer than payday loans.

How to choose a personal loan in Indianapolis

  • Comparison shop: Look for the lender offering the best terms for your financial situation and needs. Things to consider include the APR range, fee structure, borrowing limits and range of loan terms.
  • Look for incentives: Credit unions such as Indiana Members Credit Union or 3Rivers Credit Union, and banks such as Old National Bank, might offer special incentives such as lower interest rates and local discounts to Indianapolis borrowers, making them worth exploring. Alternatively, online lenders sometimes offer a no-hassle, fully online application with fast approval and funding.

Requirements for personal loans in Indianapolis

Indiana doesn’t have any specific personal loan requirements, however the state does have a usury law that caps non-mortgage consumer loan origination fees at $50 and interest rates at 36%. In addition, there are national consumer protection laws, which require that personal loan lenders:

  • Show interest costs as both APR and a total dollar amount
  • Provide accurate information to credit reporting agencies
  • Do not discriminate in a credit transaction

Personal loans in Indianapolis: FAQ

What are other options if I’m looking for quick loans in Indianapolis?
Personal loans in Indianapolis are offered by banks and credit unions, some of which will approve and fund loans on the same day. Other options for quick loans in Indianapolis might include loans secured by other assets, such as vehicles or investment accounts.

What about payday loans as an alternative to personal loans?
Payday loans are an expensive loan option, though they can offer fast cash and have easy credit requirements to meet. But between high fees and very short repayments terms of a few weeks, payday loans can easily trap you in debt if you don’t have a clear plan for repayment.

Luckily, Indiana protects its citizen’s rights for payday loans through its Indiana Small Loan Law. This law specifies limits and requirements for payday lenders, including that no multiple small loans can exceed $605 nor can small loans exceed 20% of the borrower’s monthly gross income. Interest is also capped at 15% for the first $250, 13% for the amount between $250 and $400, and 10% for the amount above $400.

Where can I find small loans in Indianapolis?
When looking for small loans, Indianapolis residents are in luck because they are offered by local credit unions, banks and alternative lenders. Just make sure the lender is compliant with the Indiana small loan law.

How can I find a list of banks in Indianapolis?
Borrowers should start by looking at FDIC insured banks. These can be found by visiting the FDIC website.

How can I find a list of credit unions in Indianapolis?
Since credit unions are member-owned, these institutions often offer more competitive rates and terms to borrowers, making them an attractive option for personal loans. To find one nearby, borrowers can use the National Credit Union Association’s locator tool.


To select personal loan lenders for this roundup, we used Google Maps to search for “personal loan lenders” with local branches in Indianapolis, Indiana. We then researched the first 40 unique lenders that appeared in our results, and selected three lenders to feature based on 1) lowest minimum APR, 2) lowest maximum APR, 3) lowest origination fee, 4) widest range of borrowing limits and 5) widest range of term length. Lenders that did not offer information on at least three of the five factors listed above were not considered.