Quick answer: Personal loan rates are set by lenders, not Borrow Your Loan. APR is usually the better comparison number because it reflects interest and certain required costs.
APR versus interest rate
The interest rate describes the cost of borrowing principal. APR is broader and helps compare offers that may include certain fees. A lower payment is not always a lower-cost loan.
Factors that may affect an offer
Credit history, income, debt obligations, loan amount, term, state, and lender rules can all affect whether an offer is available and what it costs.
What to compare
- APR and total repayment.
- Origination and late fees.
- Term length and payment schedule.
- The amount disbursed after any fees.
Methodology
This page is educational and uses illustrative examples. Borrow Your Loan does not publish unverified partner rates, approval odds, or lender requirements. A lender or partner controls any final offer, APR, fee, amount, repayment term, and funding decision.