U.S. Bank Personal Loans Review (February 2025)

Personal loans can help you achieve a range of personal and financial goals, including consolidating debt, paying for a home improvement project, funding a dream vacation, and more. Minnesota-based U.S. Bank is one of many lenders that offer personal loans across the country.

Learn who U.S. Bank personal loans are best for, its pros and cons, how the bank’s personal loans stack up against competitors, and what you can expect from the application process.

*If you live in a state without a U.S. Bank branch location but are within 50 miles of a branch located in another state, you may be able to get a loan.

Who are U.S. Bank personal loans best for?

Best for U.S. Bank customers

Existing U.S. Bank customers are the best fit for the bank’s personal loans because they get the most borrowing options. Customers can access loan amounts of $1,000 to $50,000 and repayment terms as long as 84 months. The bank limits loans for non-customers to a maximum of $25,000 and terms up to 60 months.

Great for in-person customer service

U.S. Bank is a good option if you prefer the traditional method of applying for a loan in person and live in one of the 27 states where the bank has branch locations. U.S. Bank has more than 2,000 branches nationwide. You can search for branches and ATMs in your area on U.S. Bank’s website.

How U.S. Bank compares to other lenders

How U.S. Bank compares to more lenders: The Best Personal Loans

Pros and cons of U.S. Bank personal loans

Pros

• Competitive APRs: U.S. Bank's minimum and maximum APR range is competitive compared to many online lenders. Note that the lowest APR in its range is available on home improvement loans of $10,000 or more with 12- to 36-month terms.
• Fast application decisions: U.S. Bank can give you a loan decision as quickly as 60 seconds after you submit your application, although not every borrower will get a decision that fast.
• No origination fees: You won't have to pay an upfront origination fee when you get a U.S. Bank personal loan. Some lenders charge origination fees, which are typically deducted upfront from the loan amount.

Cons

• Have to be a customer to get the most options: U.S. Bank caps repayment terms and loan amounts to 60 months and $25,000 for non-customers. Existing customers get longer repayment terms and higher loan amounts.
• Not available in all areas: U.S. Bank branch offices are located primarily in the Midwestern and Western United States. If you live in a state without a branch office but are within 50 miles of a branch in another state, you may be eligible to apply.
• Funding can take up to four business days: Current customers could receive loan funds the same day, but generally, loan funding may take up to four business days to process.

How to qualify for a U.S. Bank personal loan

Here are some important things to know before you apply for a personal loan from U.S. Bank:

Required documentation

You'll need to submit documentation including:

• Home address
• Employment information
• Social Security number

U.S. Bank allows co-applicants for joint personal loans. Your co-applicant will also need to supply their documentation.

Learn More: Coapplicant vs. Cosigner

Your credit score and financial history

Your credit score and financial history are among the key factors in getting approved for a personal loan. Like most personal loan lenders, U.S. Bank looks at your credit score, credit history, and other qualifications to determine how reliable a borrower you are. 

If you’re already a customer, you can check your credit score with the U.S. Bank mobile app. If not, you can use Credible's credit monitoring tool.

Your income and employment

Lenders such as U.S. Bank usually consider full-time employment as less risky than freelance or self-employment. You may be asked for more income documentation if you’re a freelancer or self-employed and have inconsistent income.

Related: 8 Personal Loans To Consider When You're Self-Employed

U.S. Bank personal loan purposes

You can get a U.S. Bank personal loan for several different purposes, including:

• Debt consolidation
• Emergency expense
• Home improvements
• Moving
• Vacation
• Wedding

Although the U.S. Bank website doesn’t specify prohibited uses, lenders typically forbid you from using a personal loan for purposes such as gambling, illegal activity, and business expenses. Check the terms in your loan agreement before accepting a personal loan from U.S. Bank or any other lender. 

Learn More: What Can’t You Use a Personal Loan For?

U.S. Bank personal loan fees and penalties

U.S. Bank doesn’t charge origination fees or prepayment penalties. However, if your loan payment is late by at least one day, U.S. Bank charges a late fee that ranges from $15 to $40. 

How to contact U.S. Bank

• U.S. Bank offers customer chat support from 8 a.m. to 8 p.m. CT through your online account or the bank’s mobile app. 
• You can reach U.S. Bank by phone 24 hours a day at 800-872-2657. When you’re abroad, you can reach the bank collect at 503-401-9991.
• You can speak to a banker by phone at a U.S. Bank branch office in 27 states. 

About U.S. Bank personal loans

U.S. Bank traces its roots to 1863, when its predecessor First National Bank of Cincinnati received its national bank charter and license. First National Bank of Minneapolis was founded in 1864, and U.S. Bank’s headquarters are still located in Minneapolis today. Its parent company is U.S. Bancorp.

In addition to personal loans, U.S. Bank’s products and services include credit cards, checking and savings accounts, mortgages, and more.