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Best Low-Interest Personal Loans December 2022

As interest rates rise, it has never been more important for borrowers to find and compare the best low-interest personal loans. We have created an easy comparison table with rates and terms from each lender to help you find the best low-interest personal loan for your needs.

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The Best Low-Interest Personal Loans

What is a Low-Interest-Rate Personal Loan?

A low-interest-rate personal loan is a type of loan that has an annual percentage rate of less than 10%. The interest rate on a low-interest personal loan is usually less than on other types of loans. This means you will pay less interest and, as a result, have more money to use for other things.

The average personal loan interest rate

The average interest rate for personal loans is between 10.16%-13.5%. The interest rates for personal loans depend on the borrower’s credit score, the amount of money they borrow, and the length of time they borrow.

How can I get a low rate on a personal loan?

A personal loan is a type of loan secured by an individual’s personal assets. It can be used for several purposes, such as debt consolidation, paying off credit card balances, home improvement, or starting a business.

People with good credit scores are more likely to get a lower personal loan rate than those with poor credit scores. This is because lenders consider your ability to repay the loan when determining the interest rate you will be offered.

The most effective way to get a low rate on a personal loan is to apply for one online. Many companies offer no-interest loans if you pay them back within 6 or 12 months. This is typically due to a promotional offer that the company made. However, it might be worth your time to contact them and ask if they can lower the rate on this type of loan. Another option would be to get a line of credit at your local bank. This option might not be as favorable because interest rates are usually higher on lines of credit. If you have access to multiple credit cards, it’s also possible to find a low-interest rate by looking at their offers.

Calculate the best rates for your needs

This calculator will help you to find the most affordable rates for your needs. It calculates the monthly payment, total interest, and total amount paid.

Loan amount


Term in months


Interest rate per year



Monthly payment


Total paid


Interest paid