Personal Loans in New Jersey

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Whether you want to take an epic, once-in-a-lifetime vacation, need money for car repairs, or have a home renovation project to tackle, personal loans can be the ticket to getting it. Loan terms vary depending on the lender, and they can even differ from state to state.

This guide will look at your options for personal loans in New Jersey and help you come up with a game plan. 

On this page:

Online personal loans in NJ


The beauty of personal loans is their flexibility: You can use the cash for just about anything. You can also find them online without a hassle. Often in a day or two, you can have the money in your account without ever having to set foot in a brick-and-mortar bank. 

The online loans in the table below all offer loans to those in the Garden State.

LightStream Upgrade LendingClub
Loan Amounts $5,000 to $100,000 $1,000 to $35,000 $1,000 to $40,000
Term lengths 24 – 144 months 36 or 60 months 36 or 60 months
Fixed APRs 3.49% – 19.99% 7.99% – 35.97% 10.68% – 35.89%
Origination fees 0% 2.9% – 8% 1% – 6%
Credit Category Good Fair Poor
Minimum credit score 660 620 600
Visit Lender Check Rates Check Rates Check Rates

Local NJ personal loans

Local options may be more limited, but you might score a better deal or have a better chance of approval than with a national bank or lender.

Credit Union of New Jersey


First formed in 1943, the Credit Union of New Jersey was created to offer savings accounts and personal loans to State Highway Department employees. These days, it has approximately 40,000 members that come from more than 200 organizations. 

Anyone can join the Credit Union of New Jersey. It offers personal loans, credit cards, vehicle loans, and mortgages. You can also open savings and checking accounts. 

Visit the Credit Union of New Jersey’s website to learn more. 


Members 1st of NJ Federal Credit Union

Members 1st of NJ Federal Credit Union

This credit union opened its doors in 1938 as the Cumberland Teachers Federal Credit Union. As it evolved over the years, it eventually became Members 1st of NJ Federal Credit Union. Now it serves 100 employer groups. 


To join, you have to be an employee or retiree of one of its member groups or immediate family of a group employee. Members 1st offers an assortment of loans, including personal, car, and home loans. It also offers savings, checking, money market, IRA, and youth accounts.

To learn more, visit the Members 1st website


Pros & cons of NJ personal loans

  • You can often get money quickly.
  • It’s less risky than a home equity loan, because your home isn’t on the line if you can’t repay.
  • Most lenders aren’t picky about what you want to do with the money.
  • They tend to have lower interest rates than credit cards.

  • You could typically get a better interest rate with a home equity loan or home equity line of credit. 
  • Some personal loans carry a lot of fees and penalties, including origination and prepayment fees. 
  • You’ll usually need a good to excellent credit score to land a good personal loan interest rate—if you don’t have that, you’ll be denied or have to pay a lot in interest. 

Watch out for payday loans

When you’re seeking a loan, several online and local lenders will advertise predatory payday loans. As much as possible, steer clear of these high-cost short-term loans. 


Payday loans are such a bad deal for borrowers because they come with sky-high interest rates, which could leave you trapped in a never-ending debt cycle. If you can land a personal loan through a trusted lender instead, you’ll pay far less in the long run. 

>> Read more: Alternatives to Get Out of the Payday Loan Cycle

Shop around to find the best personal loan for you

Take your time to find the best personal loan for your budget. Focus on the rates you’re offered, because the lower they are, the less the loan will cost you. 

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