Personal loans review and rating methodology

Finder’s personal loan experts assess personal loans across six key categories to help you objectively evaluate a personal loan’s overall features and suitability for your unique needs.

The six categories we measure are:

1. Loan amounts and loan terms
2. Interest rates and fees
3. Eligibility criteria
4. Transparency
5. Customer experience
6. Application process

Data collection

We collect data manually through online research and from providers directly.

Category weightings

We weigh each metric based on factors we believe are most important to customers looking for a good personal loan. Personal loans earn a score in each category and then an overall score based on the weightings detailed on this page.

1. Loan amounts and loan terms: 30%
2. Interest rates and fees: 30%
3. Eligibility criteria: 15%
4. Transparency: 10%
5. Application process: 10%
6. Customer service: 5%

Scoring and rating

Wondering how we work out Finder Score? We look at over 40 personal loans and we compare them against each other to get our simple score out of 10. Metrics like interest rates, loan amounts and loan terms are weighted and added to come up with individual Finder Scores.

Personal loans are evaluated on the six key categories outlined on this page. These categories are broken down into 17 different data points.

• 9+ Excellent – The crème de la crème of personal loans. These products offer the best mix of personal loan features across the six categories.
• 7+ Great – The mix of features across categories is great but not optimal.
• 5+ Satisfactory – Typically average in the features department.
• Less than 5 – Basic – The least competitive in terms of features.

Data points

Data points are weighed differently, depending on their importance. Examples of data points we look at when comparing personal loans include the following:

• Interest rates
• Loan amounts
• Loan terms
• Minimum incomes
• Minimum credit scores

No single personal loan will be the best choice for everyone, so thoroughly compare your options before picking a personal loan.

Written by

Leanne Escobal

Senior Publisher

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Leanne Escobal is a senior publisher at Finder with more than 13 years of experience in financial products and services, with a focus on content strategy and marketing. She has completed the Canadian Securities Course (CSC®) as well as the Personal Lending and Mortgages course through the Canadian Securities Institute. Leanne holds a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio

Leanne's expertise

Leanne has written 202 Finder guides across topics including:

• Personal Loans
• Car Loans
• Business Loans
• Short-Term Loans
• International Money Transfers
• Make Money Online