Alliant Credit Union Personal Loans Review in 2023
Alliant Credit Union often provides same-day online personal loans between $1,000 and $100,000 if you need money quickly. With 700,000 members, the Chicago-based credit union is one of the biggest in the country. It was established in 1935. Alliant also provides credit cards, checking and savings accounts, individual retirement accounts, trust accounts, house and vehicle loans, insurance policies, and personal loans.
An Alliant personal loan can be used for many things, including as paying off other debt, covering unexpected bills, or making home upgrades. Rent, utilities, credit card or loan payments, business costs, or investments are not permitted with Alliant personal loans.
How Do Alliant Personal Loans Work?
To apply for an Alliant personal loan, go to the Alliant Credit Union website and click on the Borrow tab’s Personal Loans option. To apply now, click the button. You will log in and submit an application if you belong to a credit union. Alternately, if you decide to accept a loan offer, you can apply as a new member and then join the credit union.
A loan from Alliant might range from $1,000 to $100,000. Rates vary depending on creditworthiness, repayment capacity, and payment mode, which all affect loan approval and annual percentage rate. 12, 24, 48, or 60 months are available for repayment. For 12 and 24 months, APRs begin at 10.49%, and for 48 and 60 months, they begin at 12.49%.
How Can You Qualify for an Alliant Personal Loan?
If you choose to pay off a portion or the entirety of your loan early, Alliant does not charge origination or prepayment fees. But if borrowers don’t pay on time, late penalties could be charged; the amount and grace period differ.
Anyone who is an Alliant Credit Union member and satisfies its requirements for a personal loan is qualified.
If you are a current or former employee of an Alliant U.S. business partner, a domestic partner or an immediate family member of an Alliant member, or if you reside or work in a qualifying community in the Chicago area, you are eligible to join the credit union. If none of these situations apply to you, you can sign up for Foster Care to Success to qualify for Alliant membership. Alliant will cover the $5 initiation charge.
What Credit Score Do You Need for an Alliant Personal Loan?
A minimum credit score needed to be approved for a personal loan is not specified by Alliant. When a customer applies for a personal loan, Alliant considers a number of variables, including credit score. When determining whether to approve your personal loan, the lender will also consider your income, debt-to-income ratio, and other factors of your circumstances.
According to the Better Business Bureau, Alliant Credit Union has an A+ rating. Based on 27 reviews, Trustpilot gives Alliant a dismal rating of 1.7 out of 5 stars.
In 2022, the Consumer Financial Protection Bureau received three complaints about personal loans from Alliant Credit Union. Alliant provided prompt responses and concluded each with a justification.
Call 800-328-1935 to reach customer assistance at any time. Additionally, you can connect online: On the About tab of the site of Alliant Credit Union, choose Help & Support. Click Send Us an Email on the next page after you have scrolled down.
A personal loan calculator is available on the website of Alliant Credit Union to assist you in calculating payments and selecting the best loan. To apply, go online.
Alliant Credit Union is a large, national credit union that offers a variety of financial products, including personal loans. Alliant personal loans have APRs ranging from 5.99% to 25.99%, depending on your credit score and loan amount. The minimum loan amount is $2,500, and the maximum loan amount is $50,000. There is no origination fee or prepayment penalty.
Here are some of the pros and cons of Alliant personal loans:
Pros:
- Competitive interest rates
- No origination fee
- No prepayment penalty
- Easy online application process
- Excellent customer service
Cons:
- Minimum credit score requirement of 660
- Maximum loan amount of $50,000
Overall, Alliant personal loans offer competitive interest rates and no fees. However, the maximum loan amount is relatively low, and you will need a good credit score to qualify.
Here are some tips for getting the best personal loan from Alliant Credit Union:
- Get a quote online. You can get a quote for an Alliant personal loan online in just a few minutes.
- Check your credit score. Your credit score is a major factor in determining your interest rate. The better your credit score, the lower your interest rate will be.
- Consider other options. If you don’t qualify for an Alliant personal loan, there are other lenders that offer personal loans with competitive interest rates.
If you’re looking for a personal loan with competitive interest rates and no fees, Alliant Credit Union is a good option to consider. However, it’s important to compare offers from a few different lenders before you decide which loan is right for you.
