Best Credit Builder Loans in Illinois
Published: 10 April 2024
Author: Noah Gomez
Finding the right credit builder loan is not easy. Some people jump on well-known brands, only to find out they paid more than necessary. In some states, local lenders can provide better terms than national brands.
In Illinois, we looked at over 36 banks, credit unions, and digital lenders to pull out the most cost-efficient and trustworthy credit-builder in the market.
Best Overall
First Eagle Bank
Avg. Principal: $1,375
Avg. APR: 5%
Avg. Length: 18 months
It's rare for banks to land the first spot in our rankings, but Illinois' own First Eagle Bank's credit builder loan claims 5% APR (below the national average) for comfortable 12 - 24 month durations on accessible principal amounts as low as $250.
Best from Bank (Physical)
First Eagle Bank
Avg. Principal: $1,375
Avg. APR: 5%
Avg. Length: 18 months
Best from Credit Union
Self-Help Federal Credit Union
Avg. Principal: $1,250
Avg. APR: 4%
Avg. Length: 15 months
Best from Digital Lender
Cheese
Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months
Best Illinois-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Illinois
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