Personal Loan Interest Rates in Idaho – What APR Should you Expect

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Idaho Personal Loan Interest Rates in 2020

Learn more about personal loan offers in Idaho, the interest rates associated with them and the lenders who offer them in 2020.

What is a personal loan?

Unsecured personal loans are fixed-rate loans in which you repay the lender a fixed interest rate in the form of monthly payments over the life of the loan. You can find two types of personal loans both unsecured and secured.

What does Unsecured mean?

Unsecured loans are loans in which are not backed by collateral like savings accounts or assets you currently own. If you hold a secured loan and default the lender may claim your assets to pay off the debt. All this information can be found in the loan agreement.

LenderEstimated APRMin. Credit ScoreAvailable TermsMax Loan Amount
Payoff logo

5.99% - 24.99%

Estimated APR

640

Min. Credit Score

2 to 5 Years

Available Terms

$35,000

Max Loan Amount
See Your Rate

Rate Range*

5.99% - 24.99%

Loan Terms*

2 to 5 Years

$5,000 up to $35,000

Loan Amount Range*

About Payoff Personal Loan & Debt Consolidations

Payoff loans are tailored for debt consolidation with low rates, they offer flexible payment schedules as well as financial guidance. Payoff offers fixed-rate debt consolidation loans to made specifically to pay off credit card debt. On average, Payoffs customers get these loans to cover their debt of $18,000.

Loan Features

Loan Amount

Payoff offers Personal Loan & Debt Consolidations with a minimum loan amount of $5,000 and a maximum loan amount of $35,000.

Loan Term

Payoff offers Personal Loan & Debt Consolidations terms ranging from 2 to 5 Years.

Good For

This loan would be ideal for Anyone overwhelmed by debt with fair to excellent credit that wants to consolidate all their credit card debt into one fixed monthly payment..

Features and Benefits

  • Soft Credit Check
  • Loans funded in 3 to 7 days
  • Origination Fees: 0% - 5.00%
  • Consolidate your credit card debt
  • No late fees

Lender Requirements

  • A minimum credit score of 640
  • A debt-to-income ratio of 50 percent or less
  • At least three years of good credit history
  • Minimum Annual Income: $40,000
  • Minimum Credit History: 2 Years
  • At least two open lines of credit in which you’ve made on-time payments
Prosper logo

6.95% - 35.99%

Estimated APR

640

Min. Credit Score

3 to 5 Years

Available Terms

$40,000

Max Loan Amount
See Your Rate

Rate Range*

6.95% - 35.99%

Loan Terms*

3 to 5 Years

$2,000 up to $40,000

Loan Amount Range*

About Prosper Personal Loans

Applying for a personal loan the traditional way can be daunting. Through Prosper, you can apply for a low-interest loan from the comfort of your home.

Loan Features

Loan Amount

Prosper offers Personal Loans with a minimum loan amount of $2,000 and a maximum loan amount of $40,000.

Loan Term

Prosper offers Personal Loans terms ranging from 3 to 5 Years.

Good For

This loan would be ideal for Individuals with good credit who want to get a loan from and industry leader..

Features and Benefits

  • Soft Credit Check
  • Loans Funded Quickly
  • Fast Funding
  • No Prepayment Penalty
  • Peer to Peer lending

Lender Requirements

  • Be at least 18 years old
  • Have good credit (usually 640+) their average borrower has a credit of 717.
  • Minimum credit history of 2 years
  • Maximum debt to income ratio: 50% (excluding mortgage)
  • Have a checking account in your name
Credible logo

5.99% - 35.99%

Estimated APR

680

Min. Credit Score

2 to 7 Years

Available Terms

$100,000

Max Loan Amount
See Your Rate

Rate Range*

5.99% - 35.99%

Loan Terms*

2 to 7 Years

$1,000 up to $100,000

Loan Amount Range*

About Credible Personal Loans

Credible’s online marketplace allows you to quickly compare offers from multiple lenders to find a competitive rate. They offer unsecured personal loans with a fixed rate.

Loan Features

Loan Amount

Credible offers Personal Loans with a minimum loan amount of $1,000 and a maximum loan amount of $100,000.

Loan Term

Credible offers Personal Loans terms ranging from 2 to 7 Years.

Good For

This loan would be ideal for Individuals with good credit who need a larger personal loan.

Features and Benefits

  • No Cost Service
  • Loans funded as fast as 1 Day
  • Get Multiple Loan Offers
  • No Cost Service
  • Simple and Easy

Lender Requirements

  • Be at least 18 years old
  • Have good to excellent credit (usually 680+)
  • Have a valid Social Security number and be a legal U.S. citizen or permanent resident.
  • Must have a regular source of income
  • Have a checking account in your name
Connect to Personal Loans

Which lender has the lowest personal loan rates in Idaho?

Researching and comparing loan rates can be a tedious process.

That is why at IDloan we simplify the process by taking your information and matching you with the best personal Idaho loans. Putting you in front of the best personal loans Idaho has to offer, you will be set up to receive the best rates to cover all your needs. Apply online today and see lenders’ features, fees (ex. origination fee), terms and conditions and personalized rates.

Idaho Loan - Personal Loans and Credit in Idaho

What should I know before getting a personal loan in Idaho?

Before you attempt to receive a loan, you first need to do a couple of things including finding your credit score range and deciding your desired loan amount and loan term. When looking at your credit score, most credit score checkers will give you a label of anywhere from poor to excellent depending on how low or high your credit score is.

When deciding the loan amount, you must know that personal loans usually range anywhere from $1,000 to $100,000. The life of the loan also is something to consider, short term personal loans are usually associated with higher monthly payments, although typically the shorter the loan term the less it will cost in interest payments in the long run.

What makes a personal loan a unique loan product?

Personal loans are a particularly unique type of loan product. The feature that makes a personal loan unique is that an auto loan, student loan or business loan, personal loans can be used for a variety of different reasons. They are also unique since that, unlike most loans, for instance, a home equity loan they are “unsecured” meaning they require no collateral.

What can a personal loan be used for?

Personal loans, as stated earlier are unique because they can be used for a variety of distinct purposes. Personal loans are a superb way of receiving a lump sum of cash. The following is a list curated by us of the main purposes and uses of personal loans in Idaho.

  • Consolidating debt
    • Personal loans can be used to consolidate debt of any kind and get back on track with one simple fixed-rate monthly payment. From credit card debt, medical debt, overdue bills and others a personal loan is a great option to help get your finances back on track.
  • Pay for Unexpected Emergency Expenses
    • According to a recent study over half, the residents of Idaho would be unable to cover the cost of an emergency expense using their savings. From an emergency vehicle expense to an unexpected costly home repair, personal loans are a popular option used to bear the costs of unforeseen emergency expenses.
  • Weddings and other special occasions
    • With an average cost of more than $44,000 according to a 2018 study by brides.com a wedding. Due to the large costs associated with the cost of weddings and other large events, personal loans can pay for deposits, the expenses of the events and even the travel costs associated with having a destination wedding.
  • Other common uses of personal loans in Idaho
    • Vacations, Home remodeling costs, fund a small business, tax bills, legal fees, medical and dental bills, many others.

Personal Loan Interest Rates by Credit Score in Idaho

Credit scores are categorized as excellent, good credit, average credit, and poor credit. This is dependent on how high or low one’s credit score is.

This is determined by an individual’s credit history along with a few other factors. Applicants with excellent credit (720-850) will typically see a rate anywhere from 5.99%-12%, applicants with good credit (680-719) will see rates from 12.0%-15.5%, average (640-679) will see rates from 16.5%-23.5%, and then poor (300-639) will see rates from 24.5% and up.

Average Credit ScoreAverage Interest RateAverage Amount Funded

720+7.25%$ 18,793
680-71911.12%$ 15,622
660-67917.08%$ 11,782
640-65923.56%$ 10,015
620-63931.16%$ 7,806
580-61958.28%$ 6,324
560-579107.13%$ 4,921
Less than 560136.50%$ 3,549
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Determining the Right Personal Loan Lender

At ID loan, it is our goal to simplify the process of acquiring an online loan from a lender in Idaho. This is done by taking capturing basic personal information from the borrower and matching them with ideal lenders. We have stripped away the hassles of searching from numerous separate sources in an effort to compare rates. We offer the best online loans Idaho has to offer all in one place.

How to increase your credit score

There are a couple of different ways one can increase their score. Typically, a good place to start building your credit score is with a credit card. Having a good history of paying off your card in a timely fashion reflects positively on your credit score and over time will build your score up.

On top of this, having a larger line of credit on your card will affect your score positively. Credit scores consider one’s ability to pay off non-mortgage debts such as student loans or auto payments. If paid in a timely fashion, then this will reflect positively on your credit score.

Where can I get a personal loan?

When starting finding ways to compare interest rates there are many different places to look. Banks and credit unions will usually have tougher eligibility requirements and take longer to fund your loan relative to online lenders. Banks are usually more hesitant to offer personal loans compared to online lenders. The reason that banks and credit unions are more hesitant about paying personal loans is that they offer different products and services that they would much rather rely on.

How to pre-qualify for a personal loan

Almost all lenders will let you pre-qualify for a loan to see estimated interest rates which do not affect your credit score. All you need to provide is basic personal information including your annual income, credit score, social security number, employment status, and your reason for borrowing as well as the requested loan amount. Get started and see your personal loan pre-approved rates at IDloan.com

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