Types of Personal Loans
Secured personal loans backed by an asset offer lower interest rates of 5.99-11% for creditworthy borrowers. Unsecured personal loans require no collateral with rates from 8.99-19.99% for prime borrowers with strong credit history.
Best Online Lenders
Symple Loans, SocietyOne and Plenti offer competitive rates for creditworthy borrowers with streamlined online applications and same-day approval decisions, often processing loans faster than traditional banks.
How to Get the Best Rate
- Check your credit score before applying using free Equifax or illion annual reports
- Use soft inquiry pre-approval tools that do not affect your credit score to compare offers
- Consider your existing bank first for possible relationship pricing discounts on personal loans