Best Low Interest Personal Loans [Rates as low as 3.99% APR] | Finder

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Best low-interest personal loans

Compare top lenders and learn how to qualify for the lowest rates.

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When choosing the best low-interest personal loans, we first considered each lender’s APR — a number that represents the interest rate and any mandatory fees. We also considered each lender’s eligibility criteria and underwriting process to estimate how likely it is to get a low rate.

While the average interest rate for people with excellent credit is actually around 9%, prequalifying with a few lenders before you apply can help you find the best deal available to you.

Can I get a low-interest personal loan during the coronavirus outbreak?

Yes — in fact, many lenders like Key Bank and Gesa Credit Union are offering special low- or zero-interest emergency loans to customers impacted by the crisis. These typically come in lower amounts than traditional personal loans and deferred repayments for a few months. You can explore your options with our guide to financial relief available during COVID-19.

Best low-interest personal loans you can apply for today

Breakdown of our top picks

  • Fiona: Best for comparing multiple lenders
  • SoFi: Best for young professionals
  • Monevo: Best for borrowers with excellent credit
  • Credible: Best for large loan amounts
  • Lendingtree: Best for borrowers with good credit
  • Even Financial: Best for borrowers with bad credit seeking large loans
  • Prosper: Best for peer-to-peer personal loans
Fiona personal loans logo
Finder Rating: 4.25 / 5


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at Fiona personal loans's secure site

Best for comparing multiple lenders: Fiona personal loans

Min. Credit Score
Starting APR
Loan Amount
Fiona Financial is a connection service, not a direct lender. But some of the lenders in its network have surprisingly low starting APRs of just 4.99% — provided you have excellent credit. Through its service, you can compare personalized offers from its partners without affecting your credit. But you might face marketing emails and phone calls from the lenders in its network — even after you take out a loan.
  • Large network of lenders
  • APR starting at 4.99%
  • Loans up to $100,000
  • Good to excellent credit required
  • Shares your information with partners
  • No loans for individuals under 21 years old
Loan Amount $1,000 – $100,000
APR 4.99% to 35.99%
Interest Rate Type Fixed
Min. Credit Score 670
Min term 24 months
Max term 84 months
Turnaround Time Varies by lender
SoFi personal loans logo
Finder Rating: 4.3 / 5


Check my rate
at SoFi personal loans's secure site

Best for young professionals: SoFi personal loans

Min. Credit Score
Starting APR
Loan Amount
SoFi welcomes younger borrowers with good to excellent credit — and it won't nickel and dime you for it. While its minimum loan amount starts high, you could be eligible for up to $100,000 and a loan term up to seven years. You may also be able to take advantage of its many programs, like career coaching and special rate discounts.
  • Competitive APRs starting at 5.99%
  • Loans up to $100,000
  • Zero fees
  • Low minimum amount at $5,000
  • Good to excellent credit required
  • Can take up to 30 days to get funded after approval
Loan Amount $5,000 – $100,000
APR 5.99% to 18.53%
Interest Rate Type Fixed
Min. Credit Score 680
Min term 24 months
Max term 84 months
Turnaround Time Varies
Fixed rates from 5.99% APR to 18.53% APR (with AutoPay). SoFi rate ranges are current as of September 18, 2020 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
Monevo personal loans logo
Finder Rating: 4.4 / 5


Check my rate
at Monevo personal loans’s secure site

Best for borrowers with excellent credit: Monevo personal loans

Min. Credit Score
Starting APR
Loan Amount
This online connection services works with lenders that offer rates starting at a low 3.49%. It’s won several awards over the past decade and partners with top lenders like SoFi. But while it works with all credit types, its high maximum rate means you might be able to find a better deal if you have bad credit elsewhere.
  • Low starting APR
  • Prequalify with multiple lenders in minutes
  • Transparent about partners
  • Loan terms as short as 3 months
  • Potentially high rates for bad credit
Loan Amount $500 – $100,000
APR 3.49% to 35.99%
Interest Rate Type Fixed
Min term 3 months
Max term 144 months
Turnaround Time Varies by lender
Credible personal loans logo
Finder Rating: 4.3 / 5


Check my rate
at Credible personal loans’s secure site

Best for large loan amounts: Credible personal loans

Min. Credit Score
Starting APR
Loan Amount
This connection service works with lenders offering loans up to $100,000 with terms as long as 84 months. And the rates its partners offer start at a low 4.99% — though you’ll need near-perfect credit to qualify. But its longer-than-average loan terms might not make it ideal if you want quick funding for a small expense.
  • Loans up to $100,000 months
  • Accepts fair credit
  • Terms as long as 84 months
  • Terms as short as 24 months
  • Potentially high rates with fair credit
Loan Amount $1,000 – $100,000
Interest Rate Type Fixed
Min. Credit Score 580
Min term 24 months
Max term 84 months
Turnaround Time As soon as 1 business day
LendingTree personal loans logo
Finder Rating: 4.6 / 5


Check my rate
at LendingTree personal loans’s secure site

Best for borrowers with good credit: LendingTree personal loans

Min. Credit Score
Starting APR
Loan Amount
LendingTree was one of the first online connection services on the market and has years of experience helping borrowers find personal loans. Its partners offer rates starting at a low 3.99%. But you’ll need good to excellent credit to find the best deal.
  • Multiple offers with one online form
  • Loans up to $50,000
  • Low starting APR of 3.99%
  • Potentially high rates even with good credit
  • Not all credit types can qualify
Loan Amount $1,000 – $50,000
Interest Rate Type Fixed
Min. Credit Score 300
Turnaround Time If you apply during work hours on a business day you can get access to approved funds within 24 hours.
Even Financial personal loans logo
Finder Rating: 4.25 / 5


Check my rate
at Even Financial personal loans’s secure site

Best for borrowers with bad credit seeking large loans: Even Financial personal loans

Min. Credit Score
Starting APR
Loan Amount
Even Financial is another connection service that works with lenders that offer a wide range of loan amounts and works with credit scores as low as 550. Its loan amounts skew high — ideal for a big project. But you might be able to borrow the whole $100,000 if you meet the minimum credit requirements.
  • Loans up to $100,000
  • Most credit types OK
  • Long terms available
  • Must be at least 21 years old to borrow
  • Mixed customer reviews
Loan Amount $1,000 – $100,000
APR 4.99% to 35.99%
Interest Rate Type Fixed
Min. Credit Score 550
Min term 24 months
Max term 84 months
Turnaround Time Varies
Prosper personal loans logo
Finder Rating: 3.42 / 5


Check my rate
at Prosper personal loans’s secure site

Best for peer-to-peer personal loans: Prosper personal loans

Min. Credit Score
Starting APR
Loan Amount
Prosper was one of the first peer-to-peer lenders to set up shop in the US. While its rates start higher than other lenders on this list, they’re relatively low compared to other investor-funded loans. But you can qualify with fair credit and a debt-to-income ratio (DTI) as high as 50%.
  • Accepts relatively high DTIs
  • Fair credit OK
  • Preapproval won’t affect your credit
  • High rates compared to direct lenders
  • High origination fee of 2.41% to 5%
  • Five-day turnaround
Loan Amount $2,000 – $40,000
APR 7.95% to 35.99%
Interest Rate Type Fixed
Min. Credit Score 640
Min term 36 months
Max term 60 months
Turnaround Time Up to five business days

Summary of best low-interest personal loans



Best for …

What sets it apart


4.99% to 35.99%

Comparing multiple lenders

Partnerships with a wide range of lenders that let you compare personalized rate offers by filling out one form.


5.99% to 18.53%

Young professionals

Member perks can help get you on the path to financial freedom — and help you qualify for lower rates down the line.


3.49% to 35.99%

Borrowers with excellent credit

Award-winning service that can connect you with some of the lowest rates out there — if your credit is up to snuff.


4.99% to 35.99%

Large loan amounts

Service that works with lenders offering some of the highest long-term loans available.


Starting from 3.99%

Borrowers with good credit

Years of experience have given this service time to perfect the process of finding a low-cost loan — especially for borrowers with good credit.


4.99% to 35.99%

Borrowers with bad credit seeking a large loans

You don’t even need fair credit to use this service that connects borrowers with larger-than-average loan amounts.


7.95% to 35.99%

Peer-to-peer personal loans

Lower rates compared than other top peer-to-peer platforms and a higher-than-avearge maximum debt-to-income ratio.

What’s the best rate on a personal loan?

The lowest rates lenders offer on personal loans hover around 4%. But very few people can qualify for the absolute lowest rate. The average rate is over 9% according to the Federal reserve — and that’s if you borrow from a bank. Online lenders typically offer higher rates.

So who gets the best rates? Generally these go to applicants with near-perfect credit, 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.

What’s considered a low interest rate?

For most borrowers, a low interest rate is below 12%. But it depends on your lender and personal finances. The better your credit, the more likely you are to qualify for rates in the single digits.

How to get a low interest rate

There are several steps you can take to find the lowest interest rate on a loan.

  • Consider a secured loan. Backing your loan with collateral offsets the risk for the lender and can help you qualify for a lower rate.
  • Look into relationship discounts. Your bank might offer rate discounts as high as 0.5% to current checking account customers — and can get you funds faster.
  • Sign up for autopay. Some lenders offer a 0.25% rate discount if you sign up to have payments automatically debited from your account.
  • Shop around. Don’t just go with the first lender you find. Comparing lenders can sometimes lead you to an even better deal.
  • Check your rate. Prequalify or reach out to your top picks to make sure you’re applying for the loan with lowest rate available to you.
  • Take advantage of low-rate guarantees. Some lenders like LightStream will offer you a lower rate than the competition, as long as the offer meets certain requirements.

Where can I find personal loans with low rates?

The following types of lenders might offer low interest rates, though you might not be able to qualify with all unless you have good credit.

  • Banks. Banks tend to offer some of the lowest rates out there, but you generally need a credit score of at least 670 to qualify — and some might only offer loans to current customers.
  • Credit unions. Credit unions often offer low rates to a wide range of credit types compared to other lenders, since they’re owned by their customers. And federal credit unions legally can’t charge rates over 18%.
  • Online lenders. These lenders have higher rates on average, but typically put less weight on credit score than a bank or credit union.
  • Connection services. A connection service can help you quickly prequalify with multiple lenders to help you quickly find the lowest rate you qualify for with its partner lenders.

How do lenders determine my interest rate?

The interest rate you’re given by a lender is determined by your financial history and current 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.
  • Credit report. Your credit report lists all the accounts you’ve had in the past, the accounts you currently have open and any hard credit inquiries.
  • Debt-to-income ratio. Lenders rely more on your debt-to-income (DTI) ratio than your income itself, since it shows the exact amount you have to spend on your loan and the money you owe to other creditors.
  • Nonconventional factors. Lenders may also consider less conventional factors, like your work history, level of education and even how many times you’ve changed your phone number over the past few years.

What’s the difference between my interest rate and APR?

APR includes the interest and fees you’d pay over one year. It gives you a more accurate idea of how much your loan will going to cost. Many personal loans don’t come with application or origination fees, so in those cases the APR and interest rate are the same. Otherwise, a loan’s APR will be higher than its interest rate.

How to apply for a low-interest personal loan

Follow these steps to get started on your personal loan application.

  1. Compare lenders. Start your search by comparing lenders that you qualify for, paying close attention to interest and fees.
  2. Prequalify. After you’ve narrowed down your choices, fill out an online form or reach out over the phone to learn which rates you might be eligible for through that particular lender.
  3. Gather basic documents. Having your most recent bank statements, tax returns and pay stubs on hand before you start means you won’t have to scramble to find information later.
  4. Start the application. Many lenders allow you to apply online or over the phone. Banks and credit unions also allow you to apply in person in most cases — and sometimes require it.
  5. Submit required documents. If you meet the basic requirements, your lender will likely ask you to submit documents to verify the information you provided, like pay stubs and state-issued ID.
  6. Review your offer. If you’re approved, the lender should send you an offer with your final rates and terms — it might. be different from your prequalification offer.
  7. Submit a counter offer, if possible. If you received a lower offer from another lender, now is the time to take advantage of a best rate guarantee if it’s available by following the lender’s instructions.
  8. Sign your contract. Typically you can sign your contract online using an e-signature. Otherwise, you might have to sign in person.

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.

While you work to build your credit, you can compare these lenders against even more personal loan options to find a rate that fits your budget.

Image source: Shutterstock

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4 Responses

  1. Default Gravatar
    RobertOctober 15, 2018

    Are there age limits for obtaining a loan?

    • Default Gravatar
      joelmarceloOctober 15, 2018

      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.

    • Avatarfinder Customer Care
      JhezSeptember 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.


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