Adam McCann, Financial Writer
@adam_mccann
The bank in Massachusetts with the lowest interest rate on personal loans is Citizens Bank, which offers an APR range of 6.79% - 20.88%. 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 Citizens Bank range will depend on your credit score, your income and other features of your financial profile. A personal loan from Citizens Bank also offers $5,000 - $15,000 in funding, with a payoff period of 36, 48, 60, 72 or 84 months. But Citizens Bank isn't the only bank in Massachusetts with low interest rates on personal loans.
Banks with the Lowest Interest Rates on Personal Loans in Massachusetts
- Citizens Bank: 6.79% - 20.88%
- Marcus by Goldman Sachs: 6.99% - 24.99%
- TD Bank: 6.99% - 18.99%
- Santander Bank US: 6.99% - 24.99%
- Webster Bank: 8.24%+
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.
2022 Best Personal Loans in Massachusetts
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