Before choosing any personal loans, people need to consider the interest rate of them. Because each loan have a interest rate and fee. It is depended on the length of the loan, the number of loan money and lender as well as the credit score. This article introduce about the personal loan interest rates in the US.
In the previous post, Infocreditfree.com introduces people to some of the necessary information that is useful for getting the second mortgage to get more information people can read the article Getting a second mortgage to consolidate debts, improve the home… Now, let find knowledge about Personal loans interest rates in the post today.
PERSONAL LOAN INTEREST RATE
Just like a lot of article posts about loans for average credit, loans for unemployed, government loans, second mortgage, HELOC…. this post about Personal loans interest rates also includes some main parts. They are:
1. Some information about personal loan interest rate
The average annual percentage for personal loans will range from 10% to 28% in 2019. Actual rates will vary based on how reliable you are, the length of the loan, the number of loan money and lender.
The interest rates for unsecured personal loans typically range from 5% to 36%. Banks and credit unions will offer competitive rates, but some of the lowest you can find are from online lenders, especially those that serve credit borrowers.
If you have a lower credit score, you will also have better luck with online lenders, as some will accept borrowers with a score of at least 580 and sometimes lower.
A good interest rate for a personal loan varies depending on what the loan is being used for, the loan balance and the loan term. Unfortunately, you may not be eligible for the best personal loan rates offered by lenders but keep in mind that the average rate for personal loans ranges from 10% to 28%.
2. The list of personal interest rates
| Lender | APR |
|---|---|
| Affirm | 10.00% – 30.00% (0% APR offered at select retailers) |
| Alliant Credit Union | 6.49% – 10.49% with AutoPay |
| American Express | 6.90% – 19.98% |
| Avant | 9.95% – 35.99% |
| Backed | 2.90% – 15.99% |
| Best Egg | 5.99% – 29.99% |
| Citibank | 7.99% – 17.99% with discounts (rate may be higher) |
| Citizens Bank | 6.80% – 20.91% with AutoPay |
| Discover Personal Loans | 6.99% – 24.99% |
| E-LOAN | 7.99% – 35.99% |
| Earnest | 6.99% – 18.24% |
| FreedomPlus | 5.99% – 29.99% |
| KeyBank | 7.49% – 15.24% with AutoPay |
| LendingClub | 6.95% – 35.89% |
| LendingPoint | 9.99% – 35.99% |
| LightStream | 3.99% – 16.99% with AutoPay (rates vary by loan purpose) |
| LoanStart | 4.85% – 35.99% |
| Marcus | 5.99% – 28.99% |
| Mariner Finance | Up to 36.00% |
| Mr. Amazing Loans | 19.9% – 29.9% |
| Navy Federal Credit Union | 8.19% – 18.00% |
| OneMain Financial | 16.05% – 35.99% |
| Payoff | 5.99% – 24.99% |
| Peerform | 5.99% – 29.99% |
| PersonalLoans.com | 5.99% – 35.99% |
| PNC Bank | 5.99% – 25.44% with AutoPay |
| Prosper | 6.95% – 35.99% |
| Regions Bank | 7.50% – 18.83% with AutoPay |
| RocketLoans | 7.161% – 29.99% |
| Santander Bank | 6.99% – 16.99% with ePay |
| Self Lender | 10.58% – 14.77% |
| SoFi | 5.99% – 16.74% with AutoPay |
| TD Bank | 6.99% – 18.99% with AutoPay |
| Upgrade | 7.99% – 35.89% |
| Upstart | 7.46% – 35.99% |
| Wells Fargo | 5.49% – 22.99% |
The interest rate of personal loan is depended on the credit history. The credit score will be one of the biggest factors in determining the annual percentage (APR) for personal loans. In general, the higher the credit score, the lower the percentage.
| Credit Score | Average Personal Loan APRs |
|---|---|
| Excellent (720 – 850) | 10.3% – 12.5% |
| Good (680 – 719) | 13.5% – 15.5% |
| Average (640 – 679) | 17.8% – 19.9% |
| Poor (300 – 639) | 28.5% – 32.0% |
This post is information about Personal loans interest rates. Also if you are looking for information about the loans for unemployed, please refer to Getting loans for unemployed is not difficult but you need to have income the link we just provided in the previous article.
The personal loans in Australia have the different interest rate and fee. If you are looking for and choosing a personal loan in there, you should read the article The loan interest rate in Australia is a fee that you need to pay.
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