Personal loans come with either a fixed interest rate or a variable interest rate. A fixed rate does not change over time, but a variable rate can vary depending on financial market trends.
If a variable-rate loan has the lowest rate, keep in mind that the rate could change in the future. If your interest rate goes up, this could increase your accrued interest (the amount of interest added to your loan every month). High-interest debt is something you should try to avoid, so consider your options carefully when choosing a fixed or a variable rate loan.