2020 personal loan interest rates by credit score : 2020 estimated APR rates based on credit score can give you idea about how much interest would applied to your 2020 personal loans. Here are estimated personal loan interest rates depending on your credit score :
2020 personal loan APR by credit score
Excellent credit (720 to 850): 13.9%.
Good credit (690 to 719): 18.0%.
Fair credit (630 to 689): 21.8%.
Bad credit (300 to 629): 27.2%
According to this table, borrowers with bad credit score from 300 to 629 will have to pay 27.2% annual interest for personal loans. A personal loan of 1000 USD will require a bad credit score borrower to payback a total amount of 1272 USD.
Online lenders may offer lower interest rates for online personal loan applications. Some online lenders offer low interest rates as low as 5.49% if borrowers have excellent credit score.