Best Credit Builder Loans in Alabama
Published: 6 February 2024
Author: Noah Gomez
Finding the right credit builder loan takes time and effort, and sometimes local institutions offer better terms than national offers. In Texas, we looked at 80 banks, credit union, and online providers to find the most cost-effective and quality options in the market.
Best Overall
Coosa Pines Credit Union
Avg. Principal: $500
Avg. APR: 13.25%
Avg. Length: 24 months
Coosa Pines's credit-builder loan covers 6 of Alabama's 67 counties, including it's largest (Jefferson). With accessible $500 principal over 24 months and only $26 monthly payment, this offer wins over Tyndall and other credit unions despite a higher 13.25% APR compared to the average 7.42%.
Borrowers outside Coosa's range should consider BankPlus as an alternative.
Best from Bank (Physical)
BankPlus
Avg. Principal: $750
Avg. APR: 5.07%
Avg. Length: 18 months
Best from Credit Union
Coosa Pines Credit Union
Avg. Principal: $500
Avg. APR: 13.25%
Avg. Length: 24 months
Best from Digital Lender
CreditStrong
Avg. Principal: $1050
Avg. APR: 15.62%
Avg. Length: 36 months
Best Alabama-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Alabama
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