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If you want a private loan with low interest to pay off an unsecured credit card or debit card, the outright and fastest way is to have a lower interest rate in order to apply for a balance transfer with zero percent. A balance is not a perfect score especially if you don’t have a perfect credit card score. A private loan with a set balance off time for few years is the best thing to do by setting payment targets monthly, and a set rate. Low-interest private loans are a lifesaver, with hundreds of moneylenders finding it hard to obtain the best loan rate of low interest. Here are the 3 best low-interest private loans and how to obtain it.

3 Best Low-Interest Private Loan

  • Earnest

Earnest, however, does not offer the lowest rate of interest but its APR system offers a range of 5.25 to 14.24% to enable it possible to get a private loan with low interest. If the person involved does not have any income requirement but has a minimum of 660 FICO credit score qualification then he or she can obtain the loan. You can place a repayment period starting from 1 to 3 years with no restrictions on how the funds will be used. It does not have any fees and gives a better loan prequalification using a soft check on credit.

  • SOFi

SOFi is a student loan refinancing systems that offer low-interest private loans to lenders, and depends on the availability of your credit. It has an APR range of 4.98 to 14.24 %. Sofi has no need of low credit score for its approval, but have a minimum of €40,000 as yearly income. The repayment period for the Sofi is from three to seven years, with no restrictions on how the funds are being spent. It gives opportunities for loan prequalification with a soft check on credit.

  • Lending Club

This Lending club has an APR rate that ranges from 5.99 to 35.89%, with both an excellent credit and interest rate. There is no such of income requirement for you to obtain such private loan with low interest, but a credibility score of 660. It has a repayments limit of three to five years, with no restrictions attached to it on how it is spent. It has about 4% of late fee payment and offers a soft check on credit.

How to Qualify and Obtain Low-interest Private Loan

A private loan with the best low-interest rate is a general reflection of how moneylenders have a view on it as a credit risk. Here are some few factors that determine the procedure of obtaining the qualification of a low-interest private loan. Click here.

  • Credit Score

Credit Score is a guide on the experience with the use of credit card. A formidable payment history, history of the credit card, and an amount owed is a major determinant. A high credit score gives you the opportunity to obtain a private loan qualifies you for a low-interest rate, while a low credit score don’t.

  • Debt-income ratio

A lower debt income ratio provides a flexible plan for your monthly payment and provides the tendency of low-interest rate. Division of your debts monthly payments calculates a debt-income ratio by the gross income monthly.

  • Loan Term

When obtaining a private loan with low-interest rate, you require seeking for a short repayment period which is most accepted by moneylenders. It acts as incentives to the debtor in repaying the loan as soon as possible.


These three low-interest private loans are the best with great benefits in saving lives. In obtaining such loans, you require a good credit score, a good debt-income ratio and loan period of repayment. This will serve as a guide to obtain a suitable private loan with a low-interest rate. For more information visit:

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