Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / IA
Personal loans, banking, insurance, and debt help in Iowa
Iowans use personal loans to consolidate credit card debt, cover emergencies, fund home improvements, or pay for major life events, with both unsecured and secured options available.
19lenders in the dataset
IAstate guide
$1,043/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in Iowa
Iowans use personal loans to consolidate credit card debt, cover emergencies, fund home improvements, or pay for major life events, with both unsecured and secured options available.
Interest-rate law
Iowa's Consumer Credit Code lets a supervised financial organization charge up to 21% per year on the unpaid balance, with no tiering by loan size. A narrower "regulated loans" category (Chapter 536) lets the Superintendent of Banking set rates by administrative rule for loans of $30,000 or less.
| Loan range | Rate | Statute |
|---|---|---|
| Most consumer loans, supervised lender | 21% per year (actuarial method) | Iowa Code Chapter 537 |
| Regulated loans of $30,000 or less | Set by Superintendent of Banking via administrative rule (confirm current figure) | Chapter 536 |
| Above $30,000 | Greater of general legal rate or 21% Consumer Credit Code rate | Not specified in dataset |
Lender complaints: Iowa Division 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
LightStream
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
PenFed
- Credit profile
- Good
- APR range
- 7.99% – 17.99%
- Loan amount
- $500 – $50,000
Good to excellent credit
Reach Financial
- Credit profile
- Not specified
- APR range
- 5.99% – 35.99%
- Loan amount
- $3,500 – $40,000
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
60MonthLoans
- Credit profile
- Fair
- APR range
- 25% – 36%
- Loan amount
- $2,600 – $10,000
Fair credit
Achieve
- Credit profile
- Fair
- APR range
- 6.25% – 35.99%
- Loan amount
- $5,000 – $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
Upgrade
- Credit profile
- Fair
- APR range
- 7.74% – 35.99%
- Loan amount
- $1,000 – $50,000
Poor or limited credit
OneMain Financial
- Credit profile
- Poor
- APR range
- 18% – 35.99%
- Loan amount
- $1,500 – $20,000
03 / Debt consolidation
Debt consolidation
Iowa's Consumer Credit Code caps most personal loans at 21%, so a debt consolidation loan should land meaningfully below that ceiling to genuinely beat a typical credit card APR; since the cap doesn't loosen for larger loans, comparing lenders directly is still worthwhile.
04 / Banking and credit unions
Banking in Iowa
National banks offer scale and convenience while Iowa-based regional and community banks compete on relationship banking and local decision-making.
Banks listed
- Wells FargoNational bank.
- US BankNational bank, headquartered in Minneapolis, MN.
- ChaseNational bank.
- Bankers TrustHeadquartered in Des Moines, IA.
- West BankHeadquartered in West Des Moines, IA.
- Hills BankHeadquartered in Hills, IA.
- MidWestOne BankHeadquartered in Iowa City, IA.
Credit unions
Iowa credit unions are member-owned, not-for-profit institutions that often post lower rates and fewer fees than banks, with membership tied to location, employer, or association.
Median membership growth of about -0.2% year over year (Q4 2025 NCUA data), close to the national median of about -0.5%, alongside the highest median loan-to-share ratio in this comparison (about 92%) and strong median loan growth (about 3.5%).
State-chartered credit unions here average $205 million in assets with a loan-to-share ratio near 99.8%. Community Choice Credit Union began in 1953 as State Employees Credit Union; Serve Credit Union began in 1931 as the Des Moines Police Officers' Credit Union, only removing county restrictions to go fully statewide in February 2025. Growth follows a methodical, contiguous-county expansion pattern.
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 with licensing required under Iowa Code § 533A.1 et seq. (Debt Management), regulated by the Iowa Division of Banking / Superintendent. No clearly documented fee cap beyond the federal Telemarketing Sales Rule's advance-fee ban.
Companies listed in the dataset
06 / Insurance
Iowa insurance
Regulator
Iowa Insurance Division
Insurance regulator websiteAuto insurance
20/40/15
Iowa requires liability insurance of $20,000 per person/$40,000 per accident bodily injury, plus $15,000 property damage.
Homeowners and renters
$1,043/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $135/yr
Severe thunderstorms, hail, tornadoes, and periodic flooding along the state's major rivers.
07 / Questions
Iowa FAQs
How do I file a complaint against a lender in Iowa?
Contact the Iowa Division of Banking, which licenses and supervises consumer lenders operating in Iowa.
How do I file a complaint against my insurance company in Iowa?
File with the Iowa Insurance Division.
What's the maximum interest rate a lender can legally charge on a personal loan in Iowa?
21% per year under the Consumer Credit Code, calculated using the actuarial method, with no tiering by loan size. A narrower "regulated loans" category lets the Superintendent set rates by rule for loans of $30,000 or less; above that, the rate reverts to the higher of the general legal rate or 21%.
What credit score do I need for a personal loan in Iowa?
It depends on the lender. Banks and credit unions generally want a FICO score of 700+, FinTech lenders work with fair credit (low-to-mid 600s), and some lenders serve poor/limited credit at higher APRs.
Are payday loans legal in Iowa, and are there caps on fees or loan amounts?
Yes, capped tightly. A payday loan is capped at $500, with a $1,000 max outstanding across all lenders in any 12-month period. Finance charges are capped at $15 for the first $100 and $10 per additional $100 (roughly 330%-430% APR depending on term). Rollovers aren't allowed, but one 15-day extension is available.
How long can a debt collector legally pursue an unpaid debt in Iowa before the statute of limitations runs out?
Written contracts have a 10-year statute of limitations (Iowa Code § 614.1(5)); oral contracts and open accounts have a shorter 5-year window (§ 614.1(4)). 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 Iowa?
A consolidation loan pays off debts in full with new borrowed money at a lower rate; settlement negotiates a reduced payoff but requires halting payments first. Iowa requires debt settlement companies to be licensed, a real regulatory layer, but the fundamental tradeoffs are the same as anywhere else.
