Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / CT
Personal loans, banking, insurance, and debt help in Connecticut
Connecticut residents take out personal loans mainly to consolidate credit card debt, cover car repairs or medical bills, finance home improvements, or pay for weddings and moves, with most loans unsecured.
23lenders in the dataset
CTstate guide
$1,651/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in Connecticut
Connecticut residents take out personal loans mainly to consolidate credit card debt, cover car repairs or medical bills, finance home improvements, or pay for weddings and moves, with most loans unsecured.
Interest-rate law
Connecticut's general usury cap is a flat 12% per year unless the lender is a bank, credit union, or licensed Small Loan Act lender. A 2023 amendment expanded the Small Loan Act's reach to non-mortgage consumer loans up to $50,000 (up from $15,000) with an APR over 12%, and added a 'true lender' standard.
| Loan range | Rate | Statute |
|---|---|---|
| Unlicensed lender, any amount | 12% flat annual cap | Conn. Gen. Stat. § 36a-573 |
| Licensed Small Loan Act lender, first $600 (unsecured) | $17 per $100 (add-on rate) | Small Loan Act |
| Licensed Small Loan Act lender, remainder up to $50,000 | $11 per $100 (add-on rate) | Small Loan Act |
| Open-end (revolving) loans from licensed lender | Up to 19.8% | Not specified in dataset |
Lender complaints: Connecticut Department of Banking
02 / Lender directory
Lenders by credit profile
Good to excellent credit
Axos Bank
- Credit profile
- Excellent
- APR range
- 11.79% – 20.84%
- Loan amount
- $7,000 – $50,000
Good to excellent credit
Citi
- Credit profile
- Good - Excellent
- APR range
- 9.99% – 17.49%
- Loan amount
- $2,000 – $30,000
Good to excellent credit
Discover
- Credit profile
- Good - Excellent
- APR range
- 6.99% – 24.99%
- Loan amount
- $2,500 – $40,000
Good to excellent credit
Happy Money
- Credit profile
- Good
- APR range
- 7.95% – 35.99%
- Loan amount
- $5,000 – $50,000
Good to excellent credit
KeyBank
- Credit profile
- Not specified
- APR range
- 8.99% – 22.99%
- Loan amount
- $2,000 – $100,000
Good to excellent credit
LightStream
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
M&T Bank
- Credit profile
- Not specified
- APR range
- 7.74% – 13.94%
- Loan amount
- $2,000 – $5,000
Good to excellent credit
PenFed
- Credit profile
- Good
- APR range
- 7.99% – 17.99%
- Loan amount
- $500 – $50,000
Good to excellent credit
Prosper
- Credit profile
- Good
- APR range
- 8.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Good to excellent credit
Rocket Loans
- Credit profile
- Good
- APR range
- 8.01% – 29.99%
- Loan amount
- $2,000 – $45,000
Good to excellent credit
Santander
- Credit profile
- Not specified
- APR range
- 7.99% – 24.99%
- Loan amount
- $5,000 – $50,000
Good to excellent credit
SoFi
- Credit profile
- Good - Excellent
- APR range
- 8.74% – 35.99%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
USAA
- Credit profile
- Good - Excellent
- APR range
- 9.89% – 18.51%
- Loan amount
- $2,500 – $100,000
Good to excellent credit
US Bank
- Credit profile
- Not specified
- APR range
- 8.74% – 24.99%
- Loan amount
- $1,000 – $50,000
Good to excellent credit
Wells Fargo
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.99%
- Loan amount
- $3,000 – $100,000
Fair credit
Avant
- Credit profile
- Poor to Good
- APR range
- 9.95% – 35.99%
- Loan amount
- $2,000 – $35,000
Fair credit
Best Egg
- Credit profile
- Fair
- APR range
- 6.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Fair credit
Happen Bank (formerly LendingClub)
- Credit profile
- Fair
- APR range
- 7.04% – 35.99%
- Loan amount
- $1,000 – $60,000
Fair credit
LendingPoint
- Credit profile
- Fair
- APR range
- 7.99% – 35.99%
- Loan amount
- $1,000 – $36,500
Fair credit
Navy Federal Credit Union
- Credit profile
- Fair - Excellent
- APR range
- 8.74% – 18%
- Loan amount
- $250 – $50,000
Fair credit
TD Bank
- Credit profile
- Fair - Excellent
- APR range
- 9.99% – 23.99%
- Loan amount
- $2,000 – $50,000
Fair credit
Upgrade
- Credit profile
- Fair
- APR range
- 7.74% – 35.99%
- Loan amount
- $1,000 – $50,000
03 / Debt consolidation
Debt consolidation
Connecticut's general usury cap is 12%, and even a licensed small loan lender's statutory rate schedule works out to well under what a typical credit card charges, so a well-priced debt consolidation loan can offer real savings; verify any lender quoting a rate meaningfully above the low double digits is actually licensed.
04 / Banking and credit unions
Banking in Connecticut
National banks offer scale and convenience, while regional and Connecticut-based banks compete on relationship banking and faster local decisions.
Banks listed
- Webster BankHeadquartered in Stamford, CT.
- Bank of AmericaNational bank.
- Wells FargoNational bank.
- ChaseNational bank.
- TD BankU.S. headquarters in Cherry Hill, NJ; part of Toronto-Dominion Bank.
- M&T BankHeadquartered in Buffalo, NY, with a longstanding Connecticut branch presence.
- Liberty BankHeadquartered in Middletown, CT.
Credit unions
Connecticut's credit unions are member-owned, not-for-profit institutions offering lower rates and fees than banks, grown out of the state's dense aerospace and defense-manufacturing base.
Connecticut credit unions posted median membership growth of about -1.5% year over year (Q4 2025 NCUA data), compared to a national median of about -0.5%, with negative median loan growth (about -1.3%) even as median asset growth was solid (about 3.3%).
American Eagle Financial Credit Union began in 1935 as East Hartford Aircraft Federal Credit Union among Pratt & Whitney employees, and Sikorsky Credit Union grew out of the helicopter manufacturer's workforce. Connecticut's first state credit union law dates to 1945, bringing existing informal 'mutual benefit associations' under Department of Banking supervision. Membership grew from 4,950 in 1946 to nearly 295,000 by 2009 even as the number of individual credit unions shrank.
Federally insured credit union deposits are protected up to $250,000 through the National Credit Union Share Insurance Fund.
Credit unions listed
05 / Debt settlement
Debt settlement
Legal, requiring licensing for both for-profit and nonprofit debt adjusters under Conn. Gen. Stat. §§ 36a-655 to 36a-665 and §§ 36a-671 to 36a-671e, regulated by the Connecticut Department of Banking. Licensed providers must keep a separate bank account for debtors, post a surety bond, and provide a written contract. A 2025 Connecticut Supreme Court decision clarified the attorney exemption applies only to actual attorneys and law firms.
Companies listed in the dataset
06 / Insurance
Connecticut insurance
Regulator
Connecticut Insurance Department
Insurance regulator websiteAuto insurance
25/50/20
Connecticut requires liability insurance with minimum limits of $25,000 per person and $50,000 per accident for bodily injury liability, plus $20,000 for property damage liability. Connecticut also requires uninsured and underinsured motorist coverage.
Homeowners and renters
$1,651/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $171/yr
Connecticut sees real exposure to coastal storms and flooding along Long Island Sound, along with winter storm and ice damage further inland.
07 / Questions
Connecticut FAQs
How do I file a complaint against a lender in Connecticut?
Contact the Connecticut Department of Banking, which licenses and supervises small loan lenders, banks, and credit unions operating in Connecticut.
How do I file a complaint against my insurance company in Connecticut?
File with the Connecticut Insurance Department.
What's the maximum interest rate a lender can legally charge on a personal loan in Connecticut?
The general usury cap is a flat 12% per year for unlicensed lenders. A Small Loan Act licensee can charge $17 per $100 on the first $600 and $11 per $100 above that (add-on rate), or up to 19.8% on open-end loans, for loans up to $50,000 as of October 2023.
What credit score do I need for a personal loan in Connecticut?
It depends on the lender. Banks and credit unions typically want a FICO score of 700+, online FinTech lenders work with fair credit (low-to-mid 600s), and some lenders serve poor or limited credit at significantly higher APRs.
Are payday loans legal in Connecticut, and are there caps on fees or loan amounts?
No. Payday lending is effectively illegal; the combination of the small loan law, check casher law, and 12% general usury cap makes triple-digit payday rates unlawful for any lender that isn't a bank, credit union, or Small Loan Act licensee.
How long can a debt collector legally pursue an unpaid debt in Connecticut before the statute of limitations runs out?
Written contracts have a 6-year statute of limitations (Conn. Gen. Stat. § 52-576); oral contracts have a 3-year window (§ 52-581). A payment or written acknowledgment can restart the clock.
What's the difference between a debt consolidation loan and debt settlement for someone living in Connecticut?
A debt consolidation loan pays creditors in full with new borrowed money at a lower rate; credit recovers quickly. Debt settlement negotiates a reduced payoff but damages credit and may create taxable forgiven income. Connecticut licenses both for-profit and nonprofit debt adjusters, a more evenly applied regulatory approach than many states.
