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Best Personal Loan Rates

Be sure to compare terms from several different lenders before selecting a personal loan that best meets your needs.

Personal loans can provide a cost-effective way to pay for certain large purchases or can help you consolidate high-interest credit card debt and retire it at a lower interest rate.

What is a personal loan?
A personal loan is money borrowed from a bank, credit union or online lender for nearly any purpose, typically without collateral. These loans are often repaid in equal monthly installments over a set time period, such as three to five years.

How to use a personal loan
Since there are few, if any, restrictions on how personal loans can be used, borrowers use them for many purposes. Some of the most common include:

  • Debt consolidation: Obtain a personal loan at a reasonable interest rate and pay off outstanding credit card bills that are charging high interest rates.
  • Medical or health expenses: Unexpected medical or dental bills can be costly to pay off over time on your credit card. A personal loan is likely to have a lower interest rate than a credit card and may make it easier to pay health bills over a set period.
  • Wedding: Rather than rack up credit card debt, personal loans can enable borrowers to pay for their dream wedding without paying high interest rates.
  • Travel: Sometimes it isn’t possible to save up for a trip in advance, such as when it is necessary to visit a relative who is ill. A personal loan can facilitate a trip today that is paid off in installments over time.
  • Home improvement:  Personal loans help homeowners pay for current emergency repairs or make timely improvements that facilitate the sale of a home.

Qualifying for a personal loan

Lenders evaluate your income, current debt level, and credit score, among other things. Review our detailed article on how to apply for a personal loan and learn about borrowing options for various credit scores.

If you want a personal loan and are concerned about your ability to borrow with bad credit, see the advice and guidance in our article on how to get a personal loan with bad credit.

Be sure to compare terms from several different lenders before selecting a personal loan that best meets your needs.

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loan term 36 - 60 months
Max loan $50,000
loan term 0 - 60 months
Max loan $35,000
loan term 36 - 60 months
Max loan $40,000
loan term 36 - 72 months
Max loan $40,000
loan term 24 - 60 months
Max loan $35,000
loan term 36 - 60 months
Max loan $40,000
loan term 0 - 36 months
Max loan $25,000
loan term 36 - 60 months
Max loan $50,000
loan term 24 - 60 months
Max loan $25,000
loan term 24 - 60 months
Max loan $35,000
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  • Advertising Disclosure: The personal loan offers that appear on this site are from companies from which Money-rates receives compensation. This compensation may impact how and where products appear on this site including the order in which they appear. Money-rates does not include all loan providers or all types of loan offers that are available.
  • Money-rates is not a loan provider but only matches you with lenders that may extend a loan to you. All loan approval decisions and terms are determined by the loan providers at the time of your application with them. There is no guarantee that you will be approved for a loan or that you will qualify for the rates displayed. The offers and rates presented on this website are estimates based on information you submit to us. Your actual rates depend on your credit history, income, loan terms and other factors. Reasonable efforts are made to compile and maintain accurate information. However all loan rates and terms, including APRs, are presented without warranty and are subject to change by the loan providers without notice.