Interest rates on short-term loans are determined by the lender based on your credit score and the terms of the loan. It is best to use a service like Acorn Finance to help you find a short-term loan with the lowest interest rates for your credit profile. At Acorn Finance, our lending partners can offer APRs as low as 6.99%, depending on credit score. In some cases, interest rates may be lower for a short-term loan, while in some other cases they may be higher. It really all depends on the lender. If a lender's goal is to secure as many short-term loans as possible they may offer lower interest rates to reach their goal.