How important is the interest rate on the loan?

The interest rate of APR on the loan is probably the most important factor. It determines the amount of interest that you would pay on the loan.

Personal loans with the lowest interest rate will in most cases be the cheapest loan for you to go for.

What is APR?

APR or annual percentage rate is the interest rate and cost for borrowing.

Important point

The advertised APR by the loan lender is not always the interest rate that all consumers would get to pay. Most people will get this rate but it again depends on your age, credit score and the amount of money you intend to borrow.

You should get a cost illustration based on the lenders advertised APR and then use a loan calculator to check out the different rates of interest before applying for a loan.

Why not use our loan comparison table and compare loan interest rates side by side against each other.

Compare APR’s from leading loan lenders with our loans comparison table.