Regions Bank Personal Loans Review (2026): What You Need to Know

Quick take: If you’re an existing Regions Bank customer, its personal loans could be a solid option due to flexible terms and competitive rates. But applying online usually isn’t an option.

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Pros & Cons 

Pros 

• Fast funding

• Competitive interest rates, especially the relatively low maximum APR

• No origination fee or prepayment penalty

• Deposit-secured and secured installment loans available along with unsecured personal loans

Cons 

• Getting an unsecured loan requires having a Regions Bank deposit account that’s been open for at least 6 months

• Even existing customers need to apply for an unsecured loan by phone or in a branch; no online-only option available

• Only available in certain states across the South, Midwest and Texas

Company Overview 

Regions Bank was founded in 1970, originally as three separate banks, the Exchange Security Bank of Birmingham, the First National Bank of Huntsville and the First National Bank of Montgomery,  that applied to become a bank holding company under the name First Alabama Bankshares. 

Its headquarters are in Birmingham, Alabama, and it offers a wide range of services to customers in the South, Midwest and Texas. Beyond personal loans, it offers mortgages, credit cards, deposit accounts and investment accounts.

Key Features 

Interest Rates 

Interest rates for a Regions Bank unsecured personal loan range from 9.24% to 29.99% APR, with the lowest APRs available to borrowers with excellent credit scores.

Your credit score is one of the most important factors in determining how much interest you’ll pay to borrow money, but lenders like Regions Bank also look at factors like your income and debt-to-income ratio. The higher the score and the lower your existing debt, the more likely you are to qualify for a lower APR.

The bank also offers deposit-secured loans, which do require collateral in the form of a Regions Bank savings account, CD or money market account. The bank charges a fixed APR on these loans based on the type of account securing your loan and your loan amount:

• CD-secured loan: The CD rate plus 5.50%

• Savings-secured loan of $250 to $2,999: 6%

• Savings-secured loan of $3,000+: 4%

Regions Bank also offers secured installment loans, which are used to refinance or purchase a trailer, motorhome, motorcycle or boat. The interest rate for these loans ranges from 9.24% to 15.24%.

Loan Amounts 

You can borrow between $2,000 and $50,000 for an unsecured loan. This is the most common type of personal loan, and it doesn’t require any collateral.

The minimum for a deposit-secured loan is $250 when it’s secured by a savings or money market account, and $2,000 when it’s secured by a CD account. The maximum amount you can borrow is 100% of the verified balance for the account you’re using as collateral. 

For secured installment loans, the amount you can borrow depends on the specific item used as collateral:

• Travel trailers/campers: $5,000 to $100,000

• RV and motorhomes: $100,000 to $300,000

• Motorcycles: $5,000 to $50,000

• Boats: $5,000 to $125,000

Repayment Terms 

For an unsecured personal loan, Regions Bank offers repayment terms between 36 months and 60 months. The term options available to you will depend on the amount of money you’re borrowing.

The bank doesn’t share the specific term options available for deposit-secured and secured installment loans; according to the website, terms vary based on the loan amount as well as the collateral securing the loan. 

Funding Speed 

Assuming you have an eligible Regions Bank account, you can get unsecured personal loan funds within the same day if your application is submitted and approved on a business day. 

Deposit-secured loans are typically funded within one business day, as are secured installment loans.

Rate Discount 

If you enable autopay during the application process for any loan of $5,000 or greater, you can get a rate discount of 0.25% to 0.50% “based on your type of relationship with Regions.” Certain account types, or accounts with higher balances, likely qualify for the highest discount. Note that the discount won’t apply if you select autopay after the loan has been opened.

Costs & Fees

Regions Bank doesn’t charge an origination fee on any of its personal loan options, but it does charge the following fees:

• A late fee equal to 5% of the unpaid loan amount or $100, whichever is less, for payments made more than 10 days after the due date

• A return item fee (for when your payment bounces due to insufficient funds) of $15

Eligibility Criteria

The most important eligibility requirement to know about is that you generally need a Regions Bank deposit account that’s been open for at least six months. The exception is deposit-secured loans; non-customers can apply by phone or in a branch to open an eligible account in order to take out this type of loan.

You’ll also need to be in one of the following states where Regions offers service: 

• Alabama

• Arkansas

• Florida

• Georgia

• Iowa

• Illinois

• Indiana

• Kentucky

• Louisiana

• Missouri

• Mississippi

• North Carolina

• South Carolina

• Tennessee

• Texas

How To Apply 

To apply for an unsecured personal loan or a secured installment loan, you’ll need to either call the bank or visit a branch. Existing Regions customers can apply for deposit-secured loans online.

The application process will involve reviewing financial information including your credit score and your existing accounts with Regions.  

Comparable Options 

We compared Regions Bank personal loans to two other lenders: Huntington Bank, another regional institution, and Discover, which offers coverage nationwide.*

While all three lenders offer a variety of personal loan options, we’re focusing on unsecured personal loans in the table below.

Huntington Bank

Huntington only operates across 14 states, mostly in the Midwest. While its personal loan rates are more competitive than Regions’, it’s not as forthcoming about some of its loan terms, such as repayment periods and associated fees. Unlike Regions, however, it lets you apply for an unsecured personal loan online.

Discover

Discover offers personal loans not limited to certain regions of the U.S., and its lowest rates — for those with excellent credit scores — are especially competitive. It also offers the widest range of repayment terms. 

When Huntington Bank might be better: Regions Bank doesn’t offer service in your state, you want to apply online rather than over the phone or in-person

When Discover might be better: Neither Regions nor Huntington is available in your state, you have a high credit score that would qualify you for its lowest rates

Who It’s Best For 

Regions Bank personal loans are best for existing bank customers. You’ll need to reside in one of the 15 states where it does business, too. If you meet those requirements, it could be a good choice thanks to its competitive interest rates and fast funding. 

Beyond the restrictions around existing customers and certain states, the biggest downside is that you have to apply for most Regions Bank loans over the phone or in a branch. If you prefer an online-only experience, you’ll want to look elsewhere. And if your credit score is in the excellent range, you could find an even better rate through another lender.

Final Take 

Regions Bank personal loans can be a strong choice for existing customers thanks to low rates, but it’s not the lender for you if you don’t want to have to talk to a live human as part of the application process.

FAQs 

How do I get a personal loan with Regions Bank?

To get a personal loan through Regions Bank, you’ll need to apply in a branch or by phone. You can apply for a deposit-secured loan online.

How long does it take to get approved for a loan at Regions Bank?

Your Regions Bank loan can be approved as quickly as the same day.

What credit score do you need for a Regions Bank personal loan?

Regions Bank doesn’t publish a minimum credit score requirement for its personal loans. It will consider your credit score along with other financial information as part of the approval process, and your existing relationship with the bank also plays a factor.

Sources

• https://www.regions.com/personal-banking - Official Regions Bank website

• https://www.huntington.com/ - Official Huntington Bank website

• https://www.discover.com - Official Discover website