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Compare low-interest personal loans

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Searching for a personal loan? These tips can help you save big on interest.

Getting a low interest rate on a personal loan can save you hundreds — if not thousands — over the life of your loan. And while it’s not a random process, it will take a lot of work to get your interest rate to a coveted single digit. By comparing your options and improving your application, you may be able to snag a low interest rate personal loan.

Credible Personal Loans - DUPLICATE FOR HERO ONLY

Our top pick: Credible

Quickly get personal loan offers from top online lenders.

  • Minimum Loan Amount: $1,000
  • Maximum Loan Amount: $100,000
  • Loan Terms: 2–7 years
  • One simple form
  • Must have good to excellent credit

    What is a low-interest personal loan?

    A low-interest personal loan is a loan that has an interest rate below 12%. It works like any other personal loan: you borrow money and then pay it back with interest and fees. But because of their low interest rates, they tend to cost much less than the average personal loan.

    To qualify for a low-interest loan from most lenders, you typically need to have a credit score above 720 and a strong financial history.

    Top three providers for low-interest personal loans

    Provider APR Range Min Loan Amount Max Loan Amount
    Even Financial Personal Loans 4.99%–35.99% $1,000 $100,000 Go to site More
    Monevo Personal Loans 3.09%–35.99% $1,000 $100,000 Go to site More
    Prosper Personal Loans 6.95%–35.99% $2,000 $40,000 Go to site More

    Even Financial

    Even Financial is an online connection service that works with a network of providers offering fixed-rate term loans. Using a connection service like Even Financial allows you to apply to prequalify with multiple providers and quickly find the one that offers the lowest rates. You don’t need a perfect credit score to apply, though you likely won’t qualify for the lowest rates unless you have excellent credit.


    Monevo is an award-winning online connection service that can help you quickly compare lenders at once. Its partners offer a wide range of loan amounts, terms and rates. It also has some of the lowest interest rates out there. Like with Even Financial, you don’t need perfect credit to apply but you also likely won’t be able to get the lowest rates unless your personal finances are impeccable.


    Prosper is a peer-to-peer lender that offers investor-funded personal loans. Its interest rates are competitive, though it also charges an origination fee between 2.41% and 5%. The interest rate you’re quoted is almost entirely based on your credit score, so you’ll need perfect credit to get the lowest rate. It isn’t available to borrowers in Iowa, North Dakota or West Virginia.

    Compare more personal loans available today

    Rates last updated October 23rd, 2018

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    Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
    Name Product Product Description Min. Credit Score Max. Loan Amount APR
    Credible Personal Loans
    Get personalized rates in minutes and then choose a loan offer from several top online lenders.
    Good to excellent credit
    4.99%–36% (fixed)
    Upgrade Personal Loans*
    Affordable loans with two simple repayment terms and no prepayment penalties.
    6.99% to 35.97% (fixed)
    Monevo Personal Loans
    Quickly compare multiple online lenders with competitive rates depending on your credit score.
    3.09%–35.99% (fixed)
    Marcus by Goldman Sachs Personal Loans
    Consolidate your debt or pay off large expenses with competitive rates and no fees.
    Good to excellent credit
    6.99% to 24.99% (fixed)
    Even Financial Personal Loans
    Get connected to competitive loan offers instantly from top online consumer lenders.
    4.99%–35.99% (fixed)
    LendingClub Personal Loan
    A peer-to-peer lender offering fair rates based on your credit score.
    6.16% to 35.89% (fixed)
    Conveniently check your loan options without affecting your credit score.
    9.95%–35.99% (fixed)
    SoFi Personal Loan Fixed Rate (with Autopay)
    No fees. Multiple member perks such as community events and career coaching.
    6.99% to 14.87% (fixed)
    OneMain Financial Personal and Auto Loans
    An established online and in-store lender with quick turnaround times. Poor credit is OK.
    16.05%–35.99%* (fixed)
    NetCredit Personal Loan
    Check eligibility in minutes and get a personalized quote without affecting your credit score.
    34%–155% (Varies by state) (fixed)
    CashUSA Installment Loans
    A connection service for quick cash loans up to $10,000.
    Bad credit OK
    5.99%–35.99% (fixed)

    Compare up to 4 providers

    How do lenders determine interest rate?

    The interest rate you’re given by a lender is determined by your financial history and your current financial situation. Lenders want to know how well you can pay back your loan and if you’re likely to default.

    • Credit score. Your credit score is an overall picture of your ability to pay back the money you borrow. A high credit score is the first thing many lenders look at and is often considered one of the most important parts of your application.
    • Credit report. Your credit report lists all the accounts you’ve had in the past, the accounts you currently have open and the recent pulls to check your credit score. This details your financial situation for your lender, giving it a better idea of how you handle your finances.
    • Debt-to-income ratio. Lenders rely more on your debt-to-income ratio (DTI) than your income itself. This is because your DTI shows the exact amount you have to spend on your loan and the money you owe to other creditors.
    • Nonconvential factors. Lenders may also consider less conventional factors when setting your interest rate. Your work history, level of education and even how many times you’ve changed your phone number over the past few years could affect your interest rate.

    Who gets the lowest rates?

    You might think that all you need to get that 2.99% interest rate is a reasonably good credit score, but the truth is that very few people can qualify for a lender’s absolute lowest rate. This is because lenders only offer these low rates to ideal candidates: People who borrow over a certain amount, have a six-figure income and almost no debt. In other words, the kind of person that probably doesn’t need a loan.

    In reality, the average interest rate for people with excellent credit is actually around 9%.

    What's the difference between interest and APR?

    You might have noticed that most lenders advertise annual percentage rates (APR) instead of interest. That’s because APR includes interest and fees, giving you a more accurate idea of how much your loan is going to cost. Many personal loans don’t come with application or origination fees, so in those cases the APR and interest are the same. Otherwise, a loan’s APR will be higher than its interest rate.

    5 tips to get a low interest rate on a personal loan

    Watch our 2-minute video to learn how to save money on your next personal loan.

    Where can I find a low-interest personal loan?

    In your search for low-interest personal loans you’ll come across these options:

    • Peer-to-peer lenders. Peer-to-peer lenders connect investors with borrowers. If you have a good or excellent credit score, you may be able to get competitive interest rates.
    • Credit unions. Credit unions don’t have any shareholders so they transfer their profits to their members through competitive interest rates and little to no fees. But not all credit unions offer membership to the public at large.
    • Secured loan providers. Some lenders allow you to secure your personal loan with collateral. In return, you may be able to score a lower interest rate.
    • Banks. If you have excellent credit, you might be able to qualify for a low-interest bank loan. You might even be eligible for a discount if you already have an account with them.
    • Online lenders. There are multiple personal loans out there offered by lenders that work completely online. These tend to accept borrowers with a range of credit scores, but you may be able to get a low rate if you have a good or excellent credit score.

    Bottom line

    Getting a personal loan with a low interest rate can be a years-long task. After all, you’ll need to have both an excellent credit score and a solid financial history. But the hard work will be worth it when you can compare loans for excellent credit.

    Frequently asked questions

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    4 Responses

    1. Default Gravatar
      RobertOctober 15, 2018

      Are there age limits for obtaining a loan?

      • finder Customer Care
        joelmarceloOctober 15, 2018Staff

        Hi Robert,

        Thanks for leaving a question on finder.

        You’ll have to meet your state’s minimum age requirement. For most states that age is 18 years. You should also be an American citizen or a permanent resident and have a regular source of income.

        Please send me a message if you need anything else. :)


    2. Default Gravatar
      NirbhaiSeptember 26, 2017

      Hello. Please suggest on how can I get full amount of loan that I need. Please help me.

      • finder Customer Care
        JhezelynSeptember 29, 2017Staff

        Hi Nirbhai,

        Thank you for your comment.

        The amount of funding that you can borrow will depend on several factors that include your credit score and the purpose of the loan. The maximum you can borrow depends on your creditworthiness, your existing financial situation and your ability to make repayments. You should check with the lender on how much is the maximum amount they can lend you.


    US Personal Loans Offers

    Important Information*
    Even Financial Personal Loans

    Get connected to competitive loan offers instantly from top online consumer lenders.

    Prosper Personal Loans

    Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

    LendingClub Personal Loan

    A peer-to-peer lender offering fair rates based on your credit score.

    SoFi Personal Loan Fixed Rate (with Autopay)

    No fees. Multiple member perks such as community events and career coaching.

    Go to site