Personal loans in Collinsville, IL
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Collinsville, IL.
The median household in Collinsville earns $67,612 a year, 19% below the Illinois median of $83,390. About 12% of residents live below the federal poverty line, and 34.0% of households rent their home.
Illinois law that applies in Collinsville
| Rate cap | 36% APR, calculated the all-in Military Lending Act way, on the unpaid balance of the amount financed, for loans made or renewed on or after March 23, 2021. |
|---|---|
| License required | Yes. |
| Loan sizes covered | A CILA licensee may lend up to $40,000 in principal. |
Full rules with statute citations: Personal Loans in Illinois. Cities in Illinois cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Collinsville
Most Collinsville applicants can finish in one sitting if they have these ready:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Collinsville
What Collinsville borrowers use it for
the fastest options online
Medical billspay a doctor, dentist or pharmacy bill now
Rent duecover a short gap before payday
Holiday expensesgifts and travel without maxing a card
Loans for your situation
How to get a personal loan in Collinsville
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Collinsville
12 FDIC-insured bank branches from 8 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| FCB Banks | 5 | 800 Belt Line Rd, Collinsville 62234 |
| UMB Bank, National Association | 1 | 201 E Main St, Collinsville 62234 |
| First National Bank of Waterloo | 1 | 100 E Clay St, Collinsville 62234 |
| Collinsville Building and Loan Association | 1 | 701 Belt Line Rd, Collinsville 62234 |
| Regions Bank | 1 | 1 Eastport Plaza Dr, Collinsville 62234 |
| Busey Bank | 1 | 101 S Morrison Ave, Collinsville 62234 |
| U.S. Bank National Association | 1 | 501 Belt Line Rd Ste 20, Collinsville 62234 |
| PNC Bank, National Association | 1 | 359 N Bluff Rd, Collinsville 62234 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Collinsville
3 credit-union locations from 3 credit unions.
| Credit union | Location |
|---|---|
| First Community | 1040 Collinsville Crossing Blvd, Collinsville 62234 |
| Scott | 1100 Belt Line Rd, Collinsville 62234 |
| Revity | 1502 Vandalia St, Collinsville 62234 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Madison County · St. Clair County ·
Frequently asked questions
Can I get a personal loan with bad credit in Collinsville?
Possibly. Lenders in our network consider applicants with fair and bad credit across Illinois, including Collinsville. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Collinsville, IL?
36% APR all-in cap on consumer loans; installment lenders up to $40,000.
How fast can I get a personal loan in Collinsville?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Collinsville borrowers who qualify.
Can I get an emergency loan with bad credit in Collinsville?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Collinsville residents can see if they qualify in about 3 minutes.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Collinsville with our free 3-minute form.
Can I get a personal loan with a 500 credit score?
It may be possible. A score around 500 limits options with traditional banks, but some online lenders consider low scores when you have steady income and an active bank account. Offers may be for smaller amounts, and approval isn't guaranteed. The quickest way to find out is to submit one request through our network and see whether lenders respond with an offer. It takes about 3 minutes.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. Collinsville residents can see their options in about 3 minutes.
Do I need to visit a store in Collinsville?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.