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Which bank has the lowest interest rate on personal loans 2022?

2022’s best banks for personal loans, offering $0 origination fees, low APRs and large loans.
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The main bank with the lowest interest rate for personal loans is Barclays, at 5.74%. Other notable banks with low personal loan rates include HSBC (5.99%) and PNC (5.99%). Some smaller banks around the country may also offer personal loans at similarly low rates.

Which bank has the lowest interest rate on personal loans 2022?
Which bank has the lowest interest rate on personal loans 2022?

Banks with the Lowest Interest Rates for Personal Loans

  • American Express: 6.90%+ APR
  • Barclays: 5.74%+ APR
  • Discover: 6.99%+ APR
  • Fifth Third Bank: 6.99%+ APR
  • HSBC: 5.99%+ APR
  • PNC: 5.99%+ APR
  • Santander Bank: 6.99%+ APR
  • TD Bank: 6.99%+ APR

But just because a lender advertises an interest rate as low as 6% or 7% on a personal loan, as many do, doesn't mean you're guaranteed that minimum rate. In fact, you'll need excellent credit (a score of 750+) to qualify for a lender's lowest rate. Personal loan providers usually display their APR as a range. For example, Barclays has a minimum APR of 5.74%, but their maximum is 20.99%. The exact rate you get will depend on things like your income, credit score and current debt.

The largest banks in the country that offer personal loans have the lowest interest rates among the banks listed above. Some other banks with personal loans have slightly higher minimum rates. For example, Wells Fargo's APR starts at 7.24%. Others have minimum APRs that are significantly higher; USAA's personal loan APRs start at 9.49%.

If you use WalletHub's free pre-qualification tool, you can see which major lenders are likely to approve you and what rates you might qualify for.

It is also good to note that banks are not the only place to get personal loans. Credit unions and online lenders are also options. Each type of lender has its own advantages and disadvantages.
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