4 Factors That Affect Your Personal Loan Interest Rate

4 Factors That Affect Your Personal Loan Interest Rate

When you apply for a personal loan, you'll find out if you qualify to borrow and what rate lenders will charge you. Being approved to borrow is obviously important, but the rate you're offered matters just as much as loan approval. Since your interest rate determines your loan costs, it's helpful to know what lenders consider when they decide what interest rate to offer you.