Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / NJ
Personal loans, banking, insurance, and debt help in New Jersey
New Jersey residents use personal loans for debt consolidation, unexpected expenses, home improvement, and major life events, under a licensing regime that removes the state's general usury cap almost entirely rather than tiering by loan size.
31lenders in the dataset
NJstate guide
$1,309/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in New Jersey
New Jersey residents use personal loans for debt consolidation, unexpected expenses, home improvement, and major life events, under a licensing regime that removes the state's general usury cap almost entirely rather than tiering by loan size.
Interest-rate law
The Consumer Finance Licensing Act exempts licensed consumer lenders from the general 16% civil usury cap for any consumer loan of $50,000 or less. There's no tiered percentage schedule; the effective outer bound is the 30% criminal usury ceiling. Above $50,000, loans revert to the general 16% civil cap absent some other exemption.
| Loan range | Rate | Statute |
|---|---|---|
| Up to $50,000 (licensed lender) | Up to 30% (criminal usury ceiling; general 16% cap exempted) | New Jersey Consumer Finance Licensing Act |
| Above $50,000 | 16% civil cap (absent other exemption) | General usury rules |
Lender complaints: New Jersey Department of Banking and Insurance
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
M&T Bank
- Credit profile
- Not specified
- APR range
- 7.74% – 13.94%
- Loan amount
- $2,000 – $5,000
Good to excellent credit
PNC Bank
- Credit profile
- Not specified
- APR range
- 7.89% – 24.99%
- Loan amount
- $1,000 – $35,000
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
Reach Financial
- Credit profile
- Not specified
- APR range
- 5.99% – 35.99%
- Loan amount
- $3,500 – $40,000
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
Truist
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $3,500 – $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
Wells Fargo
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.99%
- Loan amount
- $3,000 – $100,000
Fair credit
Achieve
- Credit profile
- Fair
- APR range
- 6.25% – 35.99%
- Loan amount
- $5,000 – $50,000
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
Oportun
- Credit profile
- Fair
- APR range
- N/A – 35.95%
- Loan amount
- $300 – $10,000
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
Fair credit
Upstart
- Credit profile
- Fair
- APR range
- 6.20% – 35.99%
- Loan amount
- $1,000 – $75,000
Poor or limited credit
Mariner Finance
- Credit profile
- Poor
- APR range
- 15.49% – 35.99%
- Loan amount
- $1,000 – $25,000
Poor or limited credit
NetCredit
- Credit profile
- Poor
- APR range
- 34% – 99.99%
- Loan amount
- $1,000 – $10,000
Poor or limited credit
OneMain Financial
- Credit profile
- Poor
- APR range
- 18% – 35.99%
- Loan amount
- $1,500 – $20,000
Poor or limited credit
OppLoans
- Credit profile
- Poor
- APR range
- 160% – 195%
- Loan amount
- $500 – $5,000
03 / Debt consolidation
Debt consolidation
Since New Jersey's licensed-lender exemption effectively removes the 16% civil usury cap up to $50,000, there's no tight legal ceiling protecting borrowers from a debt consolidation loan priced well above their existing credit card APR; shopping around and comparing the actual math matters more here.
04 / Banking and credit unions
Banking in New Jersey
National banks offer scale and convenience, while New Jersey-based regional and community banks compete on relationship banking and faster local lending decisions.
Banks listed
- Wells FargoNational bank.
- TD BankU.S. headquarters in Cherry Hill, NJ.
- Bank of AmericaNational bank.
- ChaseNational bank.
- PNC BankNational bank, headquartered in Pittsburgh, PA.
- Valley National BankHeadquartered in Wayne, NJ.
- Provident BankHeadquartered in Jersey City, NJ.
Credit unions
New Jersey's credit unions are member-owned, not-for-profit institutions that often post lower loan rates and fewer fees than comparable bank products, with membership tied to living, working, or having other ties to a specific group.
About -1.5% year-over-year median membership growth (Q4 2025 NCUA data), one of the weaker figures in this comparison, alongside negative asset growth (about -0.7%) and negative loan growth (about -1.7%).
Wedged between Philadelphia and New York City, two of the oldest and most concentrated banking markets, New Jersey credit unions have had little room to expand. State rules are technically looser than federal ones (allowing kept select-employee groups on community-charter conversion), but only about 9 of the state's roughly 161 credit unions use the state charter.
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
No, not for a typical for-profit company. New Jersey's Debt Adjustment and Credit Counseling Act (N.J.S.A. 17:16G-1 et seq.), regulated by the Department of Banking and Insurance, restricts debt adjustment to nonprofit social service and consumer credit counseling agencies; for-profit activity is generally barred.
06 / Insurance
New Jersey insurance
Regulator
New Jersey Department of Banking and Insurance
Insurance regulator websiteAuto insurance
15/30/5
New Jersey requires $15,000 per person / $30,000 per accident bodily injury liability plus $5,000 property damage liability, among the lower bodily-injury minimums nationally. PIP, uninsured motorist, and underinsured motorist coverage are also required (no-fault state up to a threshold).
Homeowners and renters
$1,309/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $151/yr
New Jersey carries exposure to nor'easters and coastal flooding along its Atlantic shoreline, plus occasional hurricane remnants and severe summer thunderstorms inland.
07 / Questions
New Jersey FAQs
How do I file a complaint against a lender in New Jersey?
Contact the New Jersey Department of Banking and Insurance, which licenses and supervises consumer lenders operating in New Jersey.
How do I file a complaint against my insurance company in New Jersey?
File with the New Jersey Department of Banking and Insurance.
What's the maximum interest rate a lender can legally charge on a personal loan in New Jersey?
For a licensed consumer lender, the Consumer Finance Licensing Act removes the general 16% civil usury cap entirely for loans of $50,000 or less, up to the practical ceiling set by the 30% criminal usury statute. Above $50,000, the general 16% civil cap applies.
What credit score do I need for a personal loan in New Jersey?
It depends on the lender. Banks and credit unions typically want a FICO score of 700+; FinTech lenders work with fair credit (low-to-mid 600s); some lenders serve poor or limited credit at higher APRs.
Are payday loans legal in New Jersey, and are there caps on fees or loan amounts?
No. New Jersey has effectively banned payday lending through its 30% criminal usury cap, and the Check Cashers Regulatory Act separately prohibits check-cashing businesses from advancing money on post-dated checks.
How long can a debt collector legally pursue an unpaid debt in New Jersey before the statute of limitations runs out?
6 years for written and oral contracts (N.J.S.A. 2A:14-1). Contracts for the sale of goods get a shorter 4-year window under the UCC. Payment or written acknowledgment can restart the clock.
What's the difference between a debt consolidation loan and debt settlement for someone living in New Jersey?
A debt consolidation loan pays off debts in full with newly borrowed money at a fixed schedule, letting credit recover quickly. Debt settlement negotiates reduced balances but requires stopping payments first, damaging credit, and forgiven amounts can be taxable. New Jersey restricts debt adjustment to nonprofit agencies, so a debt consolidation loan is the clearly available for-profit path.
