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Rates on 3-year fixed-rate loans averaged 14.75%, down from 15.73% the seven days before and up from 11.03% a year ago. Personal loan interest rates fell over the last seven days for 3-year loans and 5-year loans. Rates for 3-year loans saw a decrease of nearly 1 percentage point, while 5-year loans dropped by 0.14 percentage points. Interest rates for both loan terms remain significantly higher than they were this time last year. Still, borrowers can take advantage of interest savings with a 3- or 5-year personal loan right now.
All Credible marketplace lenders offer fixed-rate loans at competitive rates. It’s a good idea to request personal loan rates from multiple lenders to compare your options, since lenders use different methods to evaluate borrowers. 12.74% for borrowers with credit scores of 780 or above choosing a 3-year loanDepending on different factors, like your credit score, which type of personal loan you’re seeking, and the loan repayment term, the interest rate can differ.