Unsecured personal loans with no collateral required, fixed monthly payments, and funds deposited as soon as the next business day. Built for real American life.
A personal loan is an unsecured installment loan — meaning you don't need to put up your home, car, or any other asset as collateral. You borrow a fixed amount, receive it as a lump sum, and repay it in equal monthly installments over a predetermined period, typically 12 to 84 months. The interest rate is fixed for the life of the loan, so your payment never changes.
Because personal loans are unsecured, your creditworthiness — primarily your credit score, income, and debt-to-income ratio — is the determining factor for both approval and interest rate. NexaBank personal loans are available to U.S. residents in all 50 states and Washington D.C., with no origination fee and no prepayment penalty.
NexaBank personal loans are designed to be flexible. While we don't restrict most uses, here are the most common purposes our customers use them for:
Cover unexpected medical bills, elective procedures, dental work, vision care, or fertility treatments not covered by insurance.
Combine multiple high-interest credit card balances into a single fixed-rate personal loan. Most customers save significantly on interest.
Fund renovations, repairs, or additions without tapping your home equity — no appraisal or lien required.
Finance your dream wedding, honeymoon, or major family celebration with predictable monthly payments.
Fund international travel, sabbaticals, or bucket-list experiences with a structured repayment plan.
Pay for coding bootcamps, certification programs, professional courses, or tuition not covered by federal student loans.
Cover moving expenses, security deposits, and setup costs when relocating for a new job or housing situation.
Use personal loan funds to seed a new business venture when traditional business financing isn't yet accessible.
Your APR is based primarily on your credit score and loan term. All NexaBank personal loans have fixed rates — your rate never increases after funding.
| Credit Score | APR Range | Best For |
|---|---|---|
| 740 – 850 (Excellent) | 9.99% – 12.99% | Debt consolidation, large expenses |
| 700 – 739 (Very Good) | 12.99% – 16.99% | Home improvement, medical |
| 660 – 699 (Good) | 16.99% – 19.99% | Wedding, travel, relocation |
| 620 – 659 (Fair) | 19.99% – 24.99% | Emergency expenses |
One of the most powerful uses of a personal loan is credit card debt consolidation. The average American credit card APR in 2025 is approximately 24.6%. If you're carrying balances across multiple cards, consolidating into a single NexaBank personal loan at 9.99%–14.99% APR can result in substantial savings.
💡 In this scenario, consolidating saves approximately $49/month and over $4,200 in total interest over 5 years. Actual savings vary based on individual circumstances.
Minimum 620 FICO score required. Scores 700+ qualify for the best rates. NexaBank uses a soft pull for pre-qualification with no score impact.
Minimum $24,000 annual income from employment, self-employment, Social Security, or other verifiable sources.
Maximum DTI of 40% (excluding the new loan payment). Lower DTI significantly improves both approval odds and offered rate.
Must be a U.S. citizen, permanent resident, or valid visa holder, 18+ years of age, with a valid SSN and U.S. bank account.
Enter your loan amount, purpose, income, and basic details. We perform a soft credit inquiry — no score impact whatsoever.
See multiple loan options with different terms and rates. Choose the one that fits your monthly budget and total cost preferences.
Select your offer and submit a full application. At this stage, a hard credit inquiry is performed, which may temporarily affect your score by a few points.
Upload supporting documents (pay stubs, bank statements). Most applicants receive a same-day approval decision.
E-sign your loan agreement. Funds are deposited directly into your linked bank account — typically the next business day.