U.S. Bank Personal Loan Review 2025

U.S. Bank is worth checking out when you’re looking for a personal loan from an established bank. In business since 1863, U.S. Bank has offered customers a wealth of financial options for a very long time.

Personal loan options —including those designed specifically for home improvement or emergencies—are available through an easy-to-complete application open to existing customers and non-customers alike.

Here’s what you need to know about this financial institution and the potential personal loans you can get from U.S. Bank.

U.S. Bank Top Features

U.S. Bank offers several types of loans and a full suite of banking products. The top features of the bank include:

• 3 types of personal loans are offered: personal, home improvement, and simple loan
• There are no clearly restricted uses for personal loan funds
• No origination fees or a prepayment penalty
• Terms are flexible, ranging from 12 to 84 months
• Current customers can borrow personal loans from $1,000 to $50,000
• New customers can borrow up to $25,000
• Fixed APRs are competitive with other banks
• The simple loan has a higher APR–it allows for borrowing up to $1,000 in $100 increments and paying $6 for every $100 you borrow, paid back in three monthly installments
• Customers can obtain a loan with a credit score as low as 660
• Borrowers who are not current customers must have a higher credit score to qualify

What Is U.S. Bank?

You might have seen U.S. Bank branches all over the country, but do you know how much history is behind the bank and what they do for their customers? Here’s a brief rundown of who U.S. Bank is:

• U.S. Bank has branches in 26 states
• They have been named one of the world’s most ethical companies and have won accolades for diversity
• U.S. Bank is home to a wide variety of financial instruments, from investments to checking/savings accounts to loans of all kinds
• The bank is for anyone at any stage of their financial life, from those who need a quick emergency loan of a few hundred dollars to those who are investing millions in a retirement nest egg
• More than 80% of all transactions through U.S. Bank are now handled online
• Loans and lines of credit are offered by the U.S. Bank National Association

Who Is U.S. Bank For?

When it comes to personal loans, U.S. Bank offers a dedicated loan for home improvement, a personal loan that can be used for anything you might need, and a smaller, short-term loan for emergencies that could spell disaster for your savings account.

Personal loans through U.S. Bank are open to anyone who qualifies, but those who have an existing relationship with the bank are more likely to get approval and perhaps more advantageous terms.

Compare U.S. Bank to Other Lenders

Though some might say that U.S. Bank has the market cornered on financial offerings and customer service, other lenders strive to compete and do so well.

Consider that good credit is a must to get a personal loan with U.S. Bank, which limits many options for those with dented and scratched credit reports.

Upstart is a promising alternative. It caters to those with new credit—which often means a lower credit score—but offers up to $50,000 in loans, just as U.S. Bank does.

Happy Money is another that offers loans to those with a lower credit score, but those loans are only available for debt consolidation.

Another option is SoFi, which does require a decent credit score to qualify but offers up to $100,000 in loans. If you need a higher loan than the $50,000 ($25,000 for non-customers) U.S. Bank offers, SoFi could be a viable contender.

How Does U.S. Bank Work?

U.S. Bank has been around since 1863, so there’s no doubt it’s a solvent bank with a wide variety of financial options to choose from. Those who already have a U.S. Bank checking, savings, or another account will likely have an easier time getting a personal loan.

Current customers will certainly see their loan funds sooner, sometimes within the same business day, and they can qualify with a credit score as low as 660.

Approval usually takes only a few minutes, and in some cases, you can apply with a co-signer.

There are currently three types of loans offered by U.S. Bank:

Personal Loan

The U.S. Bank personal loan ranges from $1,000 to $50,000 and has a term of 12 to 84 months.

Fixed APRs vary depending on your credit history and other factors, but they are competitive with other lenders and not outrageously high.

There are no stated restrictions on what the loan can be used for, and there are no origination or prepayment fees. Borrowers who are not current customers can borrow up to $25,000.

Home Improvement Loan

This is a loan that is meant to be dedicated to home improvement projects or repairs.

The terms and amounts offered are the same as that of the personal loan.

Unlike a home improvement loan, which is taken out against the value of your home’s equity, this is an unsecured personal loan, and you do not need to put up your home as collateral.

Simple Loan

The simple loan is for borrowers who need emergency funds. It allows you to borrow up to $1,000 in $100 increments.

There is no prepayment fee or late fee, but there is a fee of $6 for every $100 you borrow. You pay back this loan in three monthly payments, and it’s designed for short-term borrowing. This loan option requires you to have a checking account with U.S. Bank for at least six months and at least three months of recurring direct deposit.

If you have an established U.S. Bank checking or savings account, you can pay off your loan online when you are ready.

However, if you don’t have an account, you might be required to visit one of U.S. Bank’s branches to close it. The bank operates in 26 states.

How to Get Started

To open an account with U.S. Bank, you will need your legal identifying information, including a government-issued photo ID. You will also need to provide your home address, social security number, and employment information to qualify for a loan.

Once you submit the application, U.S. Bank will run a hard credit check and let you know of their decision within minutes. You might be able to use a co-signer; in that case, the bank will also need all their information.

In most cases, the bank will require a credit score of 660 or above for existing account holders to qualify for the loan. Those who are not existing customers will need a higher credit score to be considered. You must be 18 years or older to apply.

You can apply entirely online. The bank will let you know your potential repayment terms and offer a discount if you choose autopay for the loan payments. Though you can opt to use your loan to pay off credit card debt, the bank doesn’t offer direct payment to your creditors, so you will have to handle that transfer of funds on your own.

Rating the Features

Understanding the features of the U.S. Bank personal loan can help you decide whether it’s the right option for you. Rating the features gives you a balanced look at what to expect from the personal loan and the bank itself and provides a way to compare “apples to apples” when looking at various banks.

User Experience

U.S. Bank has been on the scene for quite some time and has streamlined its user experience for all banking products. Applying for a personal loan is easy through the online application, and for existing customers, the whole process can be completed online.

The bank offers a loan repayment calculator to help you decide how much of a loan you can afford.

Fees and Rates

There are no fees for taking out a personal loan, including no origination fee. However, the APR tends to be a bit higher than that of some of the competitors, especially online banks.

The best rates are reserved for those who take out $10,000 or more for their loan and have a credit score of 800 or higher. Existing customers who use autopay get a 0.5% discount on their rate.

Transparency

U.S. Bank’s website offers extensive “fine print” that details everything you need to know. There are no hidden fees with personal loans; what you see in their offer is what you get. Contacting customer service to ask questions you can’t find the answers to on the website is easy.

Flexibility

You can choose between a variety of repayment terms. The bank will provide you with several options, and you can choose which one best suits your needs and budget.

Customer Support

You can reach customer service at any time via phone. You can log into your account at any time to view the status online. You can also schedule a virtual, in-person, or phone appointment for more in-depth questions. It’s also possible to walk into any convenient branch to ask a banker questions about your loan directly.

Bottom Line

U.S. Bank is a well-established financial institution that offers many products, including a variety of personal loans to fit your unique needs.

A good credit score is required to qualify, and an even better one (800 or higher) is necessary for the best possible rates.

Whether you have an established account there to take advantage of the rate discounts or don’t have an account and want the funds transferred elsewhere, U.S. Bank offers flexible repayment terms and a solid fixed rate.

Frequently Asked Questions (FAQs)