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If you need money you should know which companies have the lowest interest rates.
Either because you need an emergency or because you want to do some remodeling in your home or to go on vacation, but in terms of personal loans there are some companies with better benefits that we are going to analyze below so that you can make the best decision.
Although this operation can be a complicated task, at the time of need you must also see the interests, terms, charges, benefits and the financial institution.
It is important to note that banks offer the best loans to customers who have a good credit history. Therefore, if you do not have good credit, it is most likely that the financial institution will offer you a personal loan with higher interest rates.
Here I present the best personal loans on the market, since they offer a low interest rate.
LightStream
It offers personal loans with a low interest rate from 3.99% to 16.99% APR (Annual Percentage Rate). The interests offered by LightStream are fixed, they do not change. If you want to get the lowest interest you must add automatic payment and have good credit.
With LightStream you can get from $5,000 to $100,000 dollars to do home renovations, pay debts, buy a car, etc. Depending on the purpose of the loan and the amount, interest may change. For example, if you want to remodel your kitchen, the interest on the loan you will get will start at 4.99%, with automatic payment.
SoFi
The personal loans offered by Sofi have a fixed interest rate of 5.99% to 16.99% APR, with automatic payment. The advantage of the loans offered by Sofi is that if you have good credit and it is accepted, you will not have to pay charges for making late or early payments.
Sofi offers loans of up to $5,000 to $100 thousand dollars for a term of 2 to 7 years. For example, if you borrow $41,000 to $45,000 for a 7-year term, your monthly payment could be $499.18 to $538.83, if the interest is 10.07% to 12.57%.
Barclay’s
You can get 5.74% interest with Barclays personal loans. The terms to repay the loan are from 3 to 5 years and you can get up to $35,000 dollars. In addition, you will not have to pay charges for the loans offered by Barclays.
According to Barclays, if you take out a personal loan of $10,000 at 5.99%, your monthly payment would be $236 for 4 years. Barclays personal loans can be used to pay your debts, carry out home renovations, pay medical expenses, etc.
HSBC
The bank offers personal loans with an interest rate, which can start at 5.99% APR with automatic payment. HSBC loans have a term of 2 to 5 years and you can get from $3,000 to $5,000 dollars.
HSBC does not charge annual or advance payment fees. In addition, the first payment of the loan can be made after the first 50 days of opening the account. For example, if you take out a $20,000 loan with an interest rate of 5.99%, you would pay $610 per month, but only pay $1,990 in total interest.
Marcus
It offers personal loans with interest that can start at 5.99% APR and can get you up to $40,000. Marcus loans have no fees and loan terms range from 3 to 6 years. To get the lowest interest you must have a good credit history.