Banks that give pre-approved loans include American Express, Capital One, Chase and all of the other major banks that offer personal loans. You’ll typically receive a letter of pre-approval in the mail or by email, and some banks might allow you to check for pre-approval through their website.
Pre-approval is a great way for you to see how much you can borrow and what rates you may qualify for. Just keep in mind that pre-approval doesn’t guarantee that you’ll be approved for the loan. Below is a list of popular banks that offer pre-approval for personal loans, auto loans, and/or mortgages.
Best Banks That Give Pre-Approved Loans
| Bank | Max Loan Amount | APR Range |
| American Express | $3,500 - $40,000 | 5.91% - 19.97% |
| Wells Fargo | $3,000 - $100,000 | 7.49% - 23.24% |
| Citibank | $2,000 - $30,000 | 10.49% - 19.49% |
| U.S. Bank | $1,000 - $50,000 | 8.74% - 24.99% |
Pre-Approval vs. Pre-Qualification
You might see the terms “pre-qualified” and “pre-approved” used interchangeably, but they have different meanings for different types of loans.
For mortgages and auto loans, pre-qualification is a quick way to estimate your potential rates and borrowing amounts, whereas pre-approval involves more definitive amounts and rates that you’ve been offered by the lender.
For personal loans, pre-approval refers to offers you might receive in the mail or by email, which indicate that you’re likely to get approved if you apply. On the other hand, pre-qualification lets you estimate your potential APR and borrowing amount by providing information to the lender.
This answer was first published on 03/28/23 and it was last updated on 01/26/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
