Some of the best fixed rate personal loans are from LightStream by SunTrust Bank, which offers APRs ranging from 3.99% to 16.99%. A fixed rate means the APR the borrower receives at the beginning will never change over the life of the loan. The alternative to a fixed rate personal loan is a variable rate personal loan, where the APR is tied to an index rate. That is usually the prime rate, the rate at which banks lend to each other. However, most personal loans have a fixed rate; it’s rare for them to have a variable rate.
WalletHub’s personal loan partners only offer fixed rate personal loans. Below, you can see their general APR ranges. Your individual rate could be anywhere within the range, depending on your credit, income, existing debt load and other factors. But it’s locked in from the moment you open the loan until the moment you pay it off.
Popular fixed rate personal loan options:
LightStream: 3.99% to 16.99% APR. Loans up to $100,000 for as long as 144 months.
Best Egg: 5.99% to 29.99% APR. Loans up to $50,000 for as long as 60 months.
Avant: 9.95% to 35.99% APR. Loans up to $35,000 for as long as 60 months.
LendingClub: 6.95% to 35.89% APR. Loans up to $40,000 for as long as 60 months.
Payoff: 5.99% to 24.99% APR. Loans up to $35,000 for as long as 60 months.
LendingPoint: 9.99% to 35.99% APR. Loans up to $25,000 for as long as 48 months.
Prosper: 6.95% to 35.99% APR. Loans up to $40,000 for as long as 60 months.
FreedomPlus: 5.99% - 29.99% APR. Loans up to $40,000 for as long as 60 months.
It’s pretty rare to find a personal loan without a fixed rate. If you’re wondering whether a certain lender has fixed or variable rates, just look for the words “fixed” or “variable” in the terms and conditions for the loan.
If you want to get a better idea of what rates you can expect on a personal loan, use WalletHub’s free pre-qualification tool. It will check with multiple lenders to see who is likely to approve you for a loan and what your potential interest rates could be.
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