Low APR Personal Loans & Financing Options

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SoFi Personal Loans

Large Loans At Low Rates

Flexible Payment Options

Unemployment Protection

No Origination Fee

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Lightstream Personal Loans

No fees, no hassle

Competitive Rates

Simple Terms

Great Customer Service

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Upgrade Personal Loans

Competitive Rates

Quick Processing

Fewest Fees

Flexible Payment Terms

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Prosper Personal Loans

Loans Up To $40k

Terms Up To 5 Years

No Early Payoff Penalty

Competitive Interest Rates

How We're Different

Get Offers in Seconds

Get pre-qualified for multiple loan offers with an easy online form.

Won't Impact Your Credit

Receive pre-qualified offers with no impact to your credit scores.

Competitive Payment Options

Loans up to $100,000; Terms up to 12 years; APRs as low as 3.99%.

Receive Funds Quickly

In some cases, receive funds in as little as one business day.

How To Get A Low APR Personal Loan With Acorn Finance

Check Personal Loan Offers With No Impact To Your Credit Score


Get Your Personal Loan Financed Quickly

Easy Monthly Payments

Secure A Personal Loan Today

Searching for a low APR personal loan? Look no further, you’re in the right spot! We are here to help you discover the lowest APR personal loans while understanding the ins and outs of using a personal loan.

Personal loans can be used to help you reach financial goals faster. They can also be used to make expensive projects more affordable. Most commonly personal loans are used for debt consolidation, home improvement financing, getting a loan for solar panels, and so on.

However, the upside to personal loans is that you can use the money for just about anything you would like. In addition, you don’t pledge collateral to secure the loan. Whether you have good credit or bad credit, you should visit Acorn Finance to shop and secure your personal loan.

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Are You A Contractor? Stop Thinking & Start Doing with Acorn Finance.

Offer customers the ability to finance their dreams with zero dealer fees.

“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”


– Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”


– Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”


– Bob S (WI)


Find The Best Low APR Personal Loans

Searching for a low APR personal loan? Look no further, you’re in the right spot! We are here to help you discover the lowest APR personal loans while understanding the ins and outs of using a personal loan.

With so many options available for personal loans, you can take your pick when it comes to the best personal loan lenders. Whether you have good credit or bad credit, Acorn Finance is one of the best places to get personalized personal loan offers. Acorn Finance is a personal loan site that connects individuals to top-rated lenders that offer the best personal loans. Keep reading to learn everything you need to know about securing a personal loan.

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Personal loans can be used to help you reach financial goals faster. They can also be used to make expensive projects more affordable. Most commonly personal loans are used for debt consolidation, home improvement financing, getting a loan for solar panels, and so on.

However, the upside to personal loans is that you can use the money for just about anything you would like.

In addition, you don’t pledge collateral to secure the loan. Whether you have good credit or bad credit, you should visit Acorn Finance to shop and secure your personal loan.

Keep reading to find out why.


What is a personal loan?

In simplest terms, personal loans can be described as borrowed money from a credit union, bank, or online lender that is repaid over time with interest.

Personal loans can provide a lump sum of cash to be repaid over time with fixed monthly payments and interest. Most banks, credit unions, and online lenders offer personal loans. To qualify for a personal loan you should have a credit score of at least 540. Most lenders have a minimum credit score requirement. If you are applying with a lender that has a higher minimum credit score requirement than your actual credit score, you may get denied. In most cases, personal loans do not have spending restrictions, thus allowing you to spend the money on anything you need to. Personal loans are commonly used for financing home improvements, weddings, car repair, emergency expenses, medical bills, debt consolidation, and more. Unsecured personal loans do not require collateral making them easier to qualify for and less risky than secured loans. Acorn Finance can connect individuals to lenders that offer personal loans up to $100,000 with terms up to 12 years. Most personal loans do not have a prepayment penalty. Regardless of the loan term you choose, we recommend paying extra each month with the intention of paying the loan off early. Paying as little as 10% extra each month can save you hundreds of dollars in interest.

Most personal loans are unsecured meaning they are not secured by collateral. While most personal loans offer repayment terms on average of two to seven years, you can find terms up to twelve years offered through Acorn Finance.

Whether you are considering diving into a home remodel, or thinking about adding a pool to your home with new landscaping that requires additional financing, Acorn Finance can help you get the perfect personal loan at the payment terms you need.

What are the requirements for a personal loan?

Most lenders have basic requirements to qualify for a personal loan. You can usually access these basic requirements on the lender’s website or contact a representative. Making sure you meet the basic requirements is the first step toward getting approved for a personal loan. Given the current market and uncertainty, most lenders are requesting proof of income before finalizing loan approvals even if you have excellent credit. It’s important to make sure the information you submit on your initial application is as close to actuals as possible. Basic requirements for a personal loan typically include. . .
– Credit score
– Payment history
– Consistent income
– Reasonable debt-to-income ratio

What can I use a personal loan for?

One of the most appealing factors of a personal loan is that it can be used for just about anything.

The lender typically does not require you to specify how the money will be spent.

In addition, in most cases there is nothing binding in the agreement that prohibits borrowers from spending the money on certain things.

Check out our home improvement financing options if you are a homeowner

What is a good interest rate on a personal loan?

The definition of a good interest rate can vary depending on your credit score. If you have a 750 credit score or above, you can expect to secure an interest rate as low as 3.99%. In addition to credit score, loan amount and loan term can impact interest rates. Once you have found the lender you want to use, you should review their rate chart to see what options you qualify for. In some cases, you may get a lower interest rate for choosing one term over another. It’s important to know your options to make smart financial decisions. If you have fair or bad credit you should focus more on finding a lender you qualify for. Whether you have good credit or bad credit you should compare interest rates. However, you should avoid submitting multiple applications and having your credit pulled more than once. Acorn Finance allows individuals to submit one application and receive multiple personalized loan offers within seconds without affecting credit. Acorn Finance can save you tons of time and money too.

What is a good APR rate for a personal loan?

If you are looking for the lowest APR for a personal loan you should check out Acorn Finance.

On approved loans, borrowers can take advantage of rates as low as 3.99%.

This is much lower than the typical average among most lenders which is around 6% to 36%.


Who has the lowest APR for personal loans?

Acorn Finance offers rates lower than the industry average. Using the Acorn Finance platform applicants can submit one application that does not affect their credit and receive multiple personalized offers from lenders within seconds.

Acorn Finance partners with reliable and top-rated lenders in order to increase competitiveness and help borrowers secure the lowest rates.

You can see below what interests rates are possible for combination of different loan amount and loan term years.


Is 17% a high interest rate? 

Interest rates are typically determined by a number of factors evaluated by the lender. Most lenders evaluate a borrower’s income, credit score, debt to income ratio, and more.

While 17% may be on the high side for someone with good to excellent credit it may not be for someone with credit challenges.


How much would a monthly payment be on a $50,000 loan?

A monthly payment on a $50,000 personal loan could be as low as $462.00 using a 12 year term at 4.99%. If you wanted to go with a 6 year term at 4.99% on a $50,000 personal loan the payment would be around $805.


Can you get a personal loan with a credit score of 550 or below?

Securing a personal loan with a credit score of 550 or below can be challenging, but not impossible. If you need a personal loan and have a credit score of 550 or below you should consider applying with a co-signer who has good credit.

This can help increase your chances of approval while helping you secure a lower interest rate and build your credit. If you do use a cosigner it’s important to remember that their credit can be affected if you default on the loan. This means it’s even more important to make payments on time and repay the loan.

In the event you are unable to make a payment, you should communicate with your co-signer to make other arrangements.

After all, you only get so many chances in life, especially when it comes to borrowing money.


Do you need credit to secure a personal loan?

Acorn Finance offers personal loans for all credit types. In most cases, personal loan approval is based on credit score, credit report, and debt-to-income ratio.

However, there are some lenders who specialize in working with borrowers who have a lack of or bad credit. These lenders may consider other factors during their approval process. If you have bad or no credit you may not qualify for the lowest rates but you can still have a chance of approval.

Even if you are approved for a higher interest rate the loan may still make sense and can help build your credit.

The more credit you can establish or repay in good terms, the better your score should be. If you are unable to receive approval you should look into secured or co-signed loans.

How much can you borrow with a personal loan?

Some lenders, such as LightStream, offer personal loans up to $100,000. It would be rare to find a lender that offers an unsecured personal loan for more than $100,000. If you need to borrow more than $100,000 you may need to consider a secured loan. Secured loans require collateral which makes them less risky for the lender. Since there is less risk, lenders often offer higher loan amounts and more flexible terms. However, secured loans are usually harder to qualify for than unsecured personal loans.

Is it better to get a personal loan from your bank?

You may prefer to use a bank for their credibility and face-to-face interactions. While it may seem easier to use your primary banking institution for a personal loan, it’s not always better. Banks often have strict requirements and slow funding processes. While they may offer competitive interest rates, it’s likely you can get the same interest rate or better in a lot less time using an online lender. Wells Fargo Bank promotes their personal loans and has interest rates starting at just 5.99% In addition, they offer an online application process.

Our picks for the best personal loan companies

When it comes to securing a personal loan you can either apply directly with the lender or indirectly through a platform like Acorn Finance. Acorn Finance has a network of market-leading lenders that can provide personal loans for all credit types. A few of Acorn Finance’s lending partners are included on the list below, as well as many other lists of top personal loan companies. Finding the best personal loan can be more complex than you think. It’s not as easy as visiting a few websites and seeing which lender has the best interest rates. You’ll want to find a lender with a competitive rate that you can qualify for with your credit score. In addition, you’ll want to make sure their loan amounts and terms can meet your needs. Acorn Finance simplifies the shopping process and makes finding the best personal loan offer easy. Let’s take a look at our top picks for the best personal loan companies. . .

If you have been researching top-rated personal loan companies, you have probably come across LightStream. LightStream specializes in good credit borrowers and offers attractive perks such as zero fees and same-day funding. To qualify for a LightStream personal loan you should have a minimum credit score of 680 or higher. While LightStream does not allow you to apply with a cosigner, you can apply with a joint applicant. A joint applicant is someone you apply with to increase your chance of approval. During the lender’s evaluation, they weigh the primary applicant and joint applicants’ income, credit, and other details equally. If approved, you can even set up split monthly payments. LightStream offers personal loans up to $100,000 with interest rates as low as 2.99% with autopay and terms up to 144 months. If you are approved by another lender with a lower interest rate, LightStream will beat the rate by one-tenth of a percentage point. Of course, they’ll want evidence of the approval and terms before matching the rate. LightStream is an online lender that is a division of SunTrust Bank. LightStream headquarters are located in Chicago, Illinois. As an Acorn Finance lending partner, you can receive offers from LightStream and other top lenders by pre-qualifying with Acorn Finance.

While Discover is not an Acorn Finance lending partner, they are gaining popularity for their competitive personal loans. Many of us already have or have had a Discover credit card but may not have considered that they offer other services. In addition to personal loans, Discover also offers digital banks and online loans.
If you want to use a Discover online loan you should have a fair credit score of 660 or higher. Customers can take advantage of customizable loan terms between 36-84 months and no fees. Discover offers online loans between $2,500 to $35,000. However, Discover does not allow applicants to apply with a cosigner. This means you’ll need to qualify for the loan on your own. While Discover offers fast funding and a user-friendly app to manage loans, they may have higher interest rates than other lenders. Discover’s interest rates for online loans start at 6.99%.

If you have credit challenges or less than perfect credit, Upgrade is one of the best lenders to consider. Upgrade may have higher interest rates than competitors but they have a much lower minimum credit score requirement. It’s hard to compare a lender like LightStream to a lender like Upgrade. They each have their own target markets and set of perks for their borrowers. For borrowers with fair or bad credit, Upgrade can still offer competitive interest rates, terms, and loan amounts. Upgrade offers personal loans up to $50,000 with interest rates starting at 6.94%. Their minimum credit score requirement is 580. If you have a credit score close to 580 but not quite, Upgrade allows you to apply with a cosigner. During application evaluations, Upgrade places a heavy focus on available cash flow. They are more concerned about applicants’ debt-to-income ratios than rent payments or monthly expenses that may affect an individual’s ability to repay a loan. If you experience a hardship such as a job loss, you may qualify for Upgrade’s Hardship Program. The Hardship Program can reduce your monthly payment or extend your loan term to help you get through a tough time without ruining your credit. Upgrade is yet another lender that is in the Acorn Finance network.

What is a good APR?

Currently, the national average for APRs on personal loans for borrowers with excellent credit is 9.34%. Compare that to credit cards that have a national average APR of 16.43% and you can see why it is almost always a better move to take out a personal loan rather than max your credit cards. What is considered a good APR can also vary depending on what you are trying to purchase, the type of loan you want to use, and you as a borrower.

Your credit card may be good to use for everyday purchases, especially if your card offers perks and rewards, and as long as you pay off your balance each month, or within a couple of months, but for larger purchases and projects, a personal loan might be a better choice.

If you are looking to finance a large home improvement project like a kitchen remodel or a backyard renovation, you will probably want to avoid credit cards. To secure a good APR on home improvement projects you should consider a personal loan, home improvement loan, or secured loan. Secured loans may offer lower interest rates but can be time consuming and challenging to qualify for.

At Acorn Finance, you can check personal loan or home improvement loan offers from lenders that can offer APRs as low as 3.99%, depending on credit score.

So, keep your credit cards around to pay for your morning coffees and after-work happy hours and collect those reward points, but when it comes to the big projects, seek alternative financing. If your credit card debt has become uncontrollable you may also be able to use a personal loan for debt consolidation.

Does APR matter if you pay on time?

Yes, the APR on a personal loan matters even if you are making your monthly payments on time. APR on a personal loan works differently than on a credit card.

For example, if you have a credit card with an APR of 23.99% and this month you charge $540 on your card. When the bill comes due, if you pay the entire balance rather than just make the minimum payment, you should not be charged any interest. If you carry a balance, then your APR can be used to determine how much interest you will pay on your balance.

Let’s say you paid $40, and now have a balance of $500 on your credit card. Your APR of 23.99% is divided by 365 to calculate your daily periodic rate. You take that number and then multiply it by $500, the amount of the balance you are carrying over to the next month, and you get 32.8 cents charge per day of interest. Multiply that by 30 days and you get an interest charge of $9.86.

APRs are different for personal loans because you will never pay your balance in full within one month and the interest will be locked in and added to the principal of your loan. The APR is what will be added to your loan amount each year. The APR comprises your interest rate and any fees or finance charges.

Each month you are paying a certain percentage to the principal and a certain percentage to interest. If you make all your payments on time, you simply will be paying more toward the principal each month the further along you are in the term of the loan. If you miss payments, then your payments should go more to the interest each month.

Is APR yearly or monthly?

For a personal loan, APR is what you will pay yearly in interest including other fees and finance charges. There is a difference between interest rates and APRs when we are talking about personal loans.

APRs are the best way to compare loans because they include all the other fees that you may not be able to see immediately.

That is why you should compare APRs and not interest rates when shopping for a new personal loan.

Why is my APR so high with good credit?

Even if you have good credit, there still may be reasons why a lender might want to charge you a higher APR than what you would expect.

First, there are market conditions and factors that determine what financial institutions can charge for interest rates and APRs. Maybe, the market has seen a recent fluctuation and the banks have adjusted their interest rates to reflect the changing market conditions.

Next, maybe you have a bankruptcy on your record. Bankruptcies can be a black mark on your record for up to 10-years. So, even if you have good to excellent credit now, that bankruptcy from 4-years ago can still affect what kind of interest rates you are seeing in personal loan offers.

Last, you may simply just be talking to the wrong lender about your situation. If you shop for a personal loan at Acorn Finance, you will be connected with dozens of lenders throughout the country who will all be competing for your business. The chances of you receiving an interest rate that is more appropriate for your credit rating are much higher.

What APR should I expect with a 700 credit score?

A credit score of 700 is considered a good credit score. That being said, you can still expect an APR to be around 16% to 18%. This may seem high, and arguably it is, but it still is lower than what credit cards are charging. That being said, if you do not feel comfortable paying an APR of 16% or higher, it then may be worth it for you to wait a couple of months and to get that credit score up into the excellent range.

A credit score of 720+ can get you closer to the 9.4% to 11.8% range. There may be a few small things you can do to boost that credit score an extra 20 points before taking out that personal loan. Pay down some credit card debts, clear off any debts sitting in collections, and continue to make those monthly payments on time. There’s also the chance that you may qualify for a lower rate as these are just averages.

Is APR the same as the interest rate?

No. Remember that APR includes all origination fees and additional finance charges on top of the interest rate.

Does 0% APR mean no interest?

A 0% APR personal loan means that there is no interest and that you are only paying back the principal. However, be mindful of deferred interest conditions that come with the 0% APR. Meaning if you make one late payment or you do not pay back the loan in the set period of time, then you may be charged interest retroactively on the entire balance.

Is it better to have a lower interest rate or APR?

When comparing offers from different lenders, always look at the APRs since they include the interest rates and all additional fees. The APR represents the total cost of the loan. It will just depend on the terms and offer as to which is better.

Closing thoughts

In conclusion, Acorn Finance offers some of the lowest rates for personal loans. Comparing lenders is important if you decide to use a personal loan. Most likely, many lenders will be competing to secure your loan. This means you have the ability to shop rates and terms and make sure you get the best deal.

Acorn Finance allows users to access the best personal loan offers within minutes. You can start by submitting an application that does not affect your credit score. Once you submit the application you can receive multiple personalized personal loan offers within seconds. You can review your offers and choose the best personal loan offer. If you are not ready to accept the offer you can return to where you left off at a later date. Most offers are valid for 14-30 days.

Acorn Finance is a reputable company that offers free services. Their services allow you to input your information to one application and receive offers from multiple lenders, making it easy to discover the lowest APR on a personal loan.


Three steps to get pre-qualified for a personal loan with Acorn Finance:

  1. Complete and submit a short loan application online
  2. Receive multiple pre-qualified offers
  3. Get connected with lenders to obtain your pre-qualified loan

Discover low APR personal loans today… apply for financing online now!