The bank in Connecticut with the lowest interest rate on personal loans is Wells Fargo, which offers an APR range of 5.99% - 19.99%. For comparison, the average personal loan APR is around 14%, according to WalletHub research.
Keep in mind that the exact interest rate you get from the Wells Fargo range will depend on your credit score, your income and other features of your financial profile. A personal loan from Wells Fargo also offers $3,000 - $100,000 in funding, with a payoff period of 12 - 84 months. But Wells Fargo isn't the only bank in Connecticut with low interest rates on personal loans.
Banks with the Lowest Interest Rates on Personal Loans in Connecticut
You should note that while a low APR is one of the most attractive features that a loan can have, it's still important to consider the loan's other terms. If it charges an origination fee, for example, that can offset some of the APR savings. And you'll need a loan that offers enough money and a long enough payoff period for your needs
You can get a personal loan with bad credit in Connecticut from LendingPoint, Avant and Upstart, among other lenders. These personal loan providers all consider applicants with credit scores below 640, and they offer reasonable APRs and fees.
The best personal loans for people with bad credit in Connecticut come from LendingPoint, which offers loans of $2,000 - $36,500 for 24 - 60 months. It has an APR of 9.99% - 35.99% and an origination fee of 0% - 6%. But you have plenty of options for getting a personal loan with bad credit in Connecticut.… read full answer
*According to either the lender or multiple third-party sources
Overall, getting a loan with bad credit in Connecticut is no different from getting one in any other state, as all the best lenders in the state operate nationwide or in most of the U.S.
As you look for personal loans for bad credit in Connecticut, make sure to avoid predatory payday lenders, which offer very small loans to be paid back with your next paycheck. They lend primarily to people with bad credit but charge extremely expensive fees, which are equivalent to an APR around 400%, on average. You should also avoid costly auto title lenders, which offer loans secured by your car but still charge up to 25% of what you borrow.
The major bank with the lowest interest rate for a personal loan is Barclays, at 5.74%. Other notable banks with low personal loan rates include HSBC (5.99%) and PNC (5.99%). Some smaller banks across the country may also offer personal loans with similarly low rates.
But just because a lender advertises an interest rate below 6% or 7% on personal loans, as many do, does not mean you are guaranteed that minimum rate. In fact, you’ll likely need excellent credit (a score of 750+) to qualify for a lender’s lowest rate. Personal loan providers usually display their APRs as a range. For example, Barclays has a minimum APR of 5.74%, but their maximum is 20.99%. The exact rate you receive will depend on such things as your income, credit score and current debts.
Of the largest banks in the country that offer personal loans, those listed above have the lowest interest rates. A few other banks with personal loans have slightly higher minimum rates. For example, Wells Fargo’s APRs start at 7.24%. Others have minimum APRs that are significantly higher; USAA’s personal loan APRs start at 9.49%.
If you use WalletHub’s free pre-qualification tool, you can see which major lenders are likely to approve you and what rates you might qualify for.
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