Personal loan rates vary. The two main factors are the payoff time and your credit score. Other factors include your income (and debt to income ratio), your savings and assets, and the amount you borrow. Some lenders have special programs and discounts. For example, FreedomPlus offers these tips to get the lowest rates available: "Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to directly pay off qualifying existing debt; or showing proof of sufficient retirement savings... Many loans have an origination fee, so when shopping, check the APR.  It’s a good idea to compare rates from different lenders to find the best deal.