A personal loan can help you pay for planned or unplanned expenses, but it’s not a blank check. You’ll need to repay not only the principal loan balance but also interest charges.
Shopping for a competitive rate, even on a low-interest personal loan, can reduce the interest you pay on your loan. That can save you hundreds, if not thousands, of dollars on your cost of borrowing.
You may be wondering where to shop for low-interest personal loans and what to ask before you agree to a new loan. Here’s what you need to know.