Based in Chicago and Illinois’ third largest independent bank, First Midwest Bank offers unsecured personal loans to eligible applicants with good credit scores.
First Midwest Bank PersonalGet your money the next business day Low fixed APR starting at 6.26%
First Midwest Bank personal loans have a fixed interest rate, $0 origination fees, or prepayment penalties. Furthermore, with loan amounts between $5,000 – $35,000 borrowers can cover any expenses, large or small.
With more than 100 branches across the country and $46 billion in total assets, First Midwest was founded just after the Great Depression and offers auto loans, mortgages, home loans, and personal loans in 24 states.
Personal loans from this lender are quickly financed and have competitive interest rates and flexible amounts. They can be used for a wide range of options like consolidating high-interest debt, emergency expenses, financing home improvement projects, etc.
Loan amounts are between $5,000 and $35,000 Fixed APR of 5.23% to 12.99% and repayment terms of up to 84 months. To be approved for a First Midwest personal loan, you must meet a minimum score requirement of 670 and the company provides a pre-qualification process that does not damage your credit score.
Learn more about First Midwest Bank Personal Loans
With First Midwest Bank personal loans there are no restrictions on how you can use the funds made available. As stated earlier, it is possible to cover a wide variety of expenses at an excellent low-interest rate and long repayment terms.
This lender also gives you the option of making a joint application and adding a co-borrower who will increase your chance of approval if you have strong credit and will be responsible for splitting payments with you.
Other Benefits of the Loan
- $0 origination fees: With First Midwest Bank personal loans, you do not have to pay an origination fee.
- Lower-than-average APRs: First Midwest Bank offers lower APRs than many current lenders.
- Joint Application Option: First Midwest Bank allows a user to apply for a loan individually or jointly with a co-borrower.
- Mobile App: Allows you to manage your loan anytime, anywhere
Is this loan for you?
If you have a good to excellent credit score and are looking for a low-interest loan that makes funds available quickly, First Midwest personal loans will be perfect for you.
First Midwest Bank is also a solid option for people looking to consolidate their debt, due to its low APRs between 5.23% and 12.99%. To give you an idea, in December 2021, the average APR for borrowers with excellent credit was 10.3%. Borrowers looking to apply for a First Midwest loan will also enjoy a $0 origination fee and prepayment penalty.
Also, this lender can be attractive to people who are looking for a loan with no upfront payment or late fees and appreciate the modern possibility of managing their loans through a mobile app.