
What is the APR on a personal loan?
An APR is a snapshot of how much your personal loan will cost each year.
Your debt doesn't have to be tied to guilt — there are ways to ease it and empower yourself through strategy.
— Rhys Subitch
Rhys Subitch is a Bankrate editor who leads an editorial team dedicated to developing educational content about loans products for every part of life. Rhys has edited articles, reviews and guides covering a broad range of topics in the consumer loans space, from debt consolidation to buying a car. Their experience spans student loans, auto loans and personal loans, and they have developed a passion for helping readers take control of their finances.
While Rhys has worked with credit cards and insurance in the past, they settled into loans content, where they have developed their expertise. In the past nine years, Rhys has researched, edited and written for several independent publications, startups, a university and a Fortune 500 company. Seven of those nine years have been devoted to personal and business finance content.
When Rhys isn't working, they enjoy spending time red lining their husband's art, reading and watching hockey. They currently reside in Tacoma, Washington.
My first auto loan was from a used car dealership. I didn't fully understand the lending process when I walked in, and because of that I got stuck with a term that was way longer than I wanted to be paying off my starter car. My second time around I did my research, got an excellent rate and a medium term, and I’ve paid off my car well before I want to trade it in.
Your debt doesn't have to be tied to guilt — there are ways to ease it and empower yourself through strategy.
— Rhys Subitch
An APR is a snapshot of how much your personal loan will cost each year.
You’ll need excellent credit and good finances to qualify.
While your credit score will keep you from getting a great APR, you can still find interest rates that are much lower than those you’d likely find on payday loans.
A personal loan might be the key to getting the money you need without added costs.
Borrowing terms and limits will vary depending on which loan product you choose.
Get prequalified for the best personal loan rate for you. Use our personal loans marketplace to get a loan for debt consolidation, major purchases and more.
Get prequalified for the best personal loan rate for you. Use our personal loans marketplace to get a loan for debt consolidation, major purchases and more.
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