Here are the credit score ranges you can typically expect to see, as well as how they can affect the interest rates you’re offered: In general, the better your credit score, the more competitive interest rates you’ll likely get. While minimum credit score requirements vary by lender, you’ll generally need a good to excellent credit score to qualify for the best interest rates on a personal loan. Read More: Who Are the Best Personal Loan Lenders? The table below shows the approximate APR for personal loans by credit score: Through Credible, you can easily compare loan offers, loan terms, origination fees, monthly payment amounts, and repayment terms. Qualifying for the lowest rates offered by a lender is dependent on your online application, credit approval and score, loan terms, and other factors. Many lenders even offer an autopay discount if you authorize your monthly loan payments to be directly withdrawn from your bank account. Securing low interest rates helps you save over the life of a loan. Generally, the shorter the loan term, the lower the interest rate offered by most lenders and the better your credit score and credit report, the better the interest rate you can qualify for. Every lender has its own methods of evaluating borrowers and determining rates, so it’s a good idea to compare prequalified rates from more than one lender.

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