Best low-interest personal loans

Learn how to get a low-interest personal loan when average loan rates are relatively high.

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By Lindsay Frankel
Lindsay Frankel

Written by

Lindsay Frankel

Writer

Lindsay Frankel has been in personal finance for over eight years. Her work has been featured by MSN, CNN, FinanceBuzz, and The Balance.

Updated August 20, 2024, 11:45 AM EDT

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Excellent credit borrowers, those with FICO scores above 800, can find personal loans with low interest rates from top lenders, and we have tips for borrowers with less-than-perfect credit as well. If you can wait to borrow, we'll also cover when interest rates may come down and how to improve your credit in the meantime.

Compare the best personal loans with low interest rates

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Best low-interest personal loans

Personal loans have lower interest rates than many other forms of borrowing, including credit cards - the average personal loan rate is almost 10 percentage points lower than credit cards, at 11.92%, compared to 21.51%, according to the Federal Reserve. But personal loan rates are still higher than they've been in more than a decade, making it crucial to find the lowest rate you can qualify for.

SoFi: Best overall

Best overall

SoFi

4.9

Fox Money rating

Check Rates

on Credible’s website

Est. APR

8.99 - 29.99%1

Loan Amount

$5,000 to $100,000

Min. Credit Score

Does not disclose

Pros and cons

More details

Upgrade: Best for fair credit

Best for fair credit

Upgrade

4.5

Fox Money rating

Check Rates

on Credible’s website

Est. APR

9.99 - 35.99%

Loan Amount

$1,000 to $50,000

Min. Credit Score

600

Pros and cons

More details

Discover Personal Loans: Best for high close rates if pre-approved

Best for no origination fees (and low rates)

Discover Personal Loans

4.4

Fox Money rating

Check Rates

on Credible’s website

Est. APR

7.99 - 24.99%

Loan Amount

$2,500 to $40,000

Min. Credit Score

660

Pros and cons

More details

LightStream: Best home improvement loans and low rates

Best home improvement loans and low rates

LightStream

4.2

Fox Money rating

Check Rates

on Credible’s website

Est. APR

6.94 - 25.29%

Loan Amount

$5,000 to $100,000

Min. Credit Score

700

Pros and cons

More details

Best Egg: Best for high close rates if pre-approved

Best for high close rates if pre-approved

Best Egg

4

Fox Money rating

Check Rates

on Credible’s website

Est. APR

6.99 - 35.99%

Loan Amount

$2,000 to $50,000

Min. Credit Score

600

Pros and cons

More details

Upstart: Best fast personal loans for all credit types

Best fast personal loans for all credit types

Upstart

3.9

Fox Money rating

Check Rates

on Credible’s website

Est. APR

7.80 - 35.99%

Loan Amount

$1,000 to $50,000

Min. Credit Score

620

Pros and cons

More details