Zions Bank Personal Loan Review: Rates, Fees, & Terms

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Zions Bank is a division of Zions Bancorporation, which operates full-service banking in 10 western and southwestern states. However, Zions Bank has a much smaller reach, operating 122 full-service branches out of Utah, Idaho, and Wyoming. That said, personal loan seekers can apply from any of five states: Utah, Idaho, Wyoming, Oregon, and Washington.

Best for Traditional Personal Loans
Zions Bank Personal Loans Review
Zions Bank Loans
  • Loan Amount
    $1,000 - Repayment Ability
  • Est. APR
    6.49% - 24.15%
  • Learn More
  • Loan Details

Zions Bank Personal Loans Pros and Cons


  • Wide array of personal loans
  • Borrow as much as you have on deposit with secured loans
  • Low minimum loan amounts
  • Flexible short-term loan options


  • Limited information online
  • Only maintains full-service branches (under the Zions Bank name) in three states
  • Only lends in five states
  • Only provides rate information for Utah and Idaho

Zions Personal Loan Options

Zions Bank offers two types of personal loans: secured and unsecured.

Secured Personal Loans

Zions Bank’s secured loans use a Zions Bank Certificate of Deposit (CD) or Statement Savings account as collateral. The lender offers minimum loans of $1,000, with a maximum of “up to the amount you have on deposit.” Borrowers can also choose between a fixed or variable interest rate.

Unsecured Personal Loans

Zions Bank’s unsecured personal loans require no collateral to obtain. The lender offers minimum loans of $2,500. According to the lender, the total amount is “based on your income and ability to repay” your debt. For unsecured personal loans, your fixed APR may range from 6.49% to 24.15% with the benefit of predictable payments.

Zions Bank Personal Loan Features and Benefits

Multiple Personal Loan Products

Aside from secured and unsecured loans, Zions Bank also offers auto loans with up to 115% fixed-rate financing and recreational vehicle loans. Rates for each loan varies based on your location and the type of loan you take out.

Rate Discounts Available

Borrowers who sign up for automatic payments from a Zions Bank deposit account are eligible for a 0.25% rate reduction on most personal loans. If you’re grandfathered into one of their legacy Zions Bank Gold accounts, you’ll receive an additional 0.25% discount on top of that.

Easily Apply Online

Zions Bank offers an easy online application that most borrowers complete within 5-20 minutes. Once you begin your application, you can come back and check your status anytime.

Flexible Short-term Repayment Options

While Zions Bank doesn’t list possible repayment terms, they do state that borrowers have access to “flexible short-term repayment options” for both secured and unsecured loans.

Zions Bank Personal Loan Drawbacks

Prequalification Not Available

Zions Bank doesn’t offer the ability to prequalify for your loan online.

Limited Information Online

Unfortunately, the lender’s website is devoid of specific information regarding its personal loans, including:

  • Loan terms
  • Origination, late, or other fees
  • And specific qualification requirements

Additionally, while the lender’s online tool shows APR ranges for Utah and Idaho residents, it doesn’t provide the same information for borrowers in Oregon, Washington, or Wyoming.

Only Lends in Five States

According to the lender’s online application, eligible borrowers may hail from Utah, Idaho, Wyoming, Oregon, or Washington.

Limited Locations

According to Zions’ “About Us” page, the bank only maintains full-service locations in Wyoming, Utah, and Idaho. While they do offer online banking, this may be a problem if you’re an Oregon or Washington resident looking for a loan, as you must close your loan in person.

>> More: Best Personal Loans

How to Qualify for a Personal Loan from Zions Bank

As mentioned above, Zions Bank doesn’t list exact qualification requirements (aside from being at least 18 years old). But they do list potential points of interest for qualification, including:

  • Where you live
  • Your income and assets
  • Other debts or payments

Additionally, they note that you’re allowed a co-applicant, which may increase your approval odds.

How to Apply for a Zions Bank Personal Loan

Zions Bank provides an online application for borrowers in the five states they service. You can also walk into the nearest branch to begin your application. Typically, the process should only take 5-20 minutes.

After you answer the required questions, the bank will process your application and provide you a loan status. If they can’t approve your loan, you’ll receive a letter in the mail listing the reasons. Approved applicants will receive correspondence from the bank regarding any next steps, such as providing additional information, documentation, or identification.

Once you’ve completed these required tasks, a representative will reach out to set up a closing date at a branch of your choosing. (Zions Bank doesn’t offer online closing at this time.)

How Do Zions Bank Personal Loans Compare to Other Lenders?

#1. Upgrade vs. Zions Bank

Upgrade lends a mix of secured, unsecured, and joint loans to borrowers with credit scores as low as 580 in 48 states. They offer repayment terms ranging from 2-7 years with no prepayment penalties to worry about and flexible due date options.

Borrowers can take out up to $50,000 at once with next-day funding at an APR between 5.49% to 35.97%. You also have the option to get a small rate discount if you sign up for autopay. However, you’ll have to pay an 8% origination fee upfront for their services.

>> More: Upgrade Personal Loans Review

#1. Zions Bank vs. Upstart

Upstart is an online lending platform that utilizes the power of artificial intelligence to help borrowers find their perfect loan. Rates range from 3.50% to 36% for loans up to $50,000. Most of the platform’s lending partners accept credit scores as low as 580-600, increasing funding opportunities for fair credit borrowers.

But if you’re on a campaign to avoid additional fees, look elsewhere, as Upstart charges an 8% origination fee, among others. Moreover, this lender doesn’t allow cosigners or offer secured loans.

>> More: Upstart Personal Loans Review

#3. Zions Bank vs. Payoff

Payoff is an unusual lender in that it only approves credit card consolidation loans. Prospective borrowers can apply for up to $40,000 in funding with APRs that range from 5.99% to 24.99% on 2-5-year terms.

But Payoff does have its limitations, starting with a minimum credit score of 640. And while it has no application or prepayment fees, you’ll have to front an origination charge of up to 5%. At this time, Payoff doesn’t approve joint loans.

>> More: Payoff Personal Loans Review

#4. Rocket Loans vs. Zions Bank

Rocket Loans hands out personal loans up to $45,000 to borrowers with credit scores as low as 580. All loans come with a fixed APR between 5.97% and 29.99% and the option to prequalify with no hit to your credit score.

However, Rocket Loans prefers borrowers with a credit history spanning at least two years. The lender also doesn’t permit co-applicants or cosigners. And unusually, your repayment terms are locked in at 3 or 5 years.

>> More: Rocket Loans Review

What Can Zions Bank Personal Loans be Used For?

Zions Bank loans can be used for almost anything, including household bills, home improvements, unexpected expenses, or large purchases.

How Long Does Zions Bank take to Approve Personal Loans?

Zions Bank typically approves loans within one business day. Some borrowers may see their application approved in just minutes.

What Credit Score is Needed for a Zions Bank Personal Loan?

Zions Bank doesn’t disclose credit score requirements for personal loans. This lack of transparency is why we recommend for consumers to look else for a personal loan.

Does Zions Bank Charge Any Personal Loan Fees?

Zions Bank doesn’t disclose any relevant lender fees for personal loans.

Bottom Line: Zions Bank Personal Loans Review

Zions Bank offers personal loans in five states, though it primarily operates out of just three of those. Between their relative lack of branch locations and limited product information, it’s tough to say whether their personal loans are right for you. But if you’re already a member, or if you’re rate shopping, their 6.49% APR is hard to beat – assuming you qualify.


Jordan Blansit
Jordan Blansit

Jordan Blansit is a Senior Writer, Researcher, & Product Analyst for SimpleMoneyLyfe with an inexplicable predilection for mortgages, investing, and personal finance. When she’s not click-clacketing from the comfort of her living room, you can find her in the California Redwoods or Oregon Siskiyous. Jordan’s areas of expertise are mortgages, personal loans, credit cards, and investing.