You can also choose between a fixed or
variable interest rate on your personal loan.
Not exact matches
Some people also choose
personal loans with
variable interest rates, which will also change depending
on the market.
All
interest rates on personal loans from LendingClub are fixed and not
variable.
The good news is
interest rates on variable rate personal loans are capped at 14.95 %.
Interest rates on SoFi
variable rate personal loans only change by the amount that LIBOR changes.
Interest rates come in two categories: fixed and
variable, and both are offered
on personal loans depending
on the lender.
Currently,
interest rates for SoFi
variable rate student
loans are capped at 8.95 % or 9.95 %, depending
on the term, and SoFi
variable rate personal loans are capped at 14.95 %, which means no matter how high
interest rates rise, you won't pay more than those
rates.
The only advantage there is that
on a
personal loan, that
rate is locked, whereas credit card
interest rates are
variable.