The interest rate on a $30,000 loan from a major lender could be anywhere from 7.49% to 35.99%. It’s difficult to pinpoint the exact interest rate that you’ll get for a $30,000 loan since lenders take many factors into account when calculating your interest rate, such as your credit score and income. If you have a high credit score and income, you will likely get a low interest rate on a $30,000 loan.
LightStream has the lowest interest rates for a $30,000 loan, starting at $5,000. LightStream isn’t your only option, though. Below you can see the best $30,000 personal loans and the interest rates associated with them.
Best $30,000 Personal Loans
| Company | Loan Amounts | APRs |
| LightStream | $5,000 - $100,000 | 7.49% - 25.99% |
| Upstart | $1,000 - $50,000, typically | 7.80% - 35.99%, typically |
| Best Egg | $2,000 - $50,000 | 8.99% - 35.99% |
| SoFi | $5,000 - $100,000 | 8.99% - 29.99% Fixed APR with all discounts |
| Wells Fargo | $3,000 - $100,000 | 7.49% - 23.24% |
Some lenders will let you pre-qualify to see your potential rates before you apply. To pre-qualify with multiple lenders at once, check out the free pre-qualification tool on WalletHub.
Upstart disclosure: Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($2,100), MA ($7,000).
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
This answer was first published on 07/08/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Advertising Disclosures
| Loan Amount | Loan Term (Years) | APR |
|---|
| $30,000 | 5 | 7.99% |
| $35,000 | 3 | 6.99% |
| $35,000 | 5 | 8.99% |
| $50,000 | 3 | 8.49% |
13 more rowsFor example, the interest on a $30,000, 36-month loan at 6% is $2,856.
What is a loan of 30000 at the interest rate of 6? ›
Answer. TOTAL TIME:5 YEARS. 30000%6=1800. 1800×5YEARS=9121.89 .
What is 5% interest on a $20,000 loan? ›
Loan amount
If you borrow $20,000 over five years with a 5 percent interest rate, you'll pay $2,645.48 in interest on an amortized schedule.
How long does it take to pay back a $30000 loan? ›
It will take 41 months to pay off $30,000 with payments of $1,000 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.
What credit score do you need to get a $30,000 loan? ›
Requirements to receive a personal loan
This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.
What is 7% interest on 30000? ›
30000 at 7 % per annum is Rs. 4347 .
What is the 3% interest of 30000? ›
3% of 30,000 is 900.
The first step is to divide 30,000 by 100 to determine the value of one percent of 30,000. The second step is to multiply 300 by 3 to get the value of three percent of 30,000. This means that 900 is 3% of 30,000.
How much is a $30,000 car payment for 5 years? ›
Provided the down payment is $5,000, the interest rate is 10%, and the loan length is five years, the monthly payment will be $531.18/month.
What is the payment on a $30,000 personal loan? ›
The monthly payment on a $30,000 loan ranges from $410 to $3,014, depending on the APR and how long the loan lasts. For example, if you take out a $30,000 loan for one year with an APR of 36%, your monthly payment will be $3,014.
A good personal loan interest rate depends on your credit score: 740 and above: Below 8% (look for loans for excellent credit) 670 to 739: Around 14% (look for loans for good credit)
What is the interest rate on a $35000 loan? ›
Long-Term Costs of $35,000 Personal Loan
| Interest Rate and Loan Term | $35,000 Personal Loan Payment |
|---|
| 18.00% APR for 60 months | $888.77 |
| 29.99% APR for 24 months | $1,956.77 |
| 29.99% APR for 36 months | $1,485.61 |
| 29.99% APR for 60 months | $1,132.15 |
5 more rowsSo, $20,000 at 5% for 36 months will cost $21,579.05 saving you $1,066.43. Using the calculator above (assuming $0 down payment, $0 trade-in and 1% sales tax) you will see that the monthly payment for the 5 year loan is $377.42 and the monthly payment for the 3 year loan is $599.42.
How do I calculate interest on a loan? ›
Divide your interest rate by the number of payments you make per year. Multiply that number by the remaining loan balance to find out how much you will pay in interest that month. Subtract that interest from your fixed monthly payment to see how much of the principal amount you will pay in the first month.
What is the interest rate today? ›
Current mortgage and refinance interest rates
| Product | Interest Rate | APR |
|---|
| 30-Year Fixed Rate | 7.17% | 7.22% |
| 20-Year Fixed Rate | 6.98% | 7.04% |
| 15-Year Fixed Rate | 6.62% | 6.70% |
| 10-Year Fixed Rate | 6.53% | 6.60% |
5 more rowsAverage online personal loan rates
| Borrower credit rating | Score range | Estimated APR |
|---|
| Excellent | 720-850. | 12.37%. |
| Good | 690-719. | 14.87%. |
| Fair | 630-689. | 18.40%. |
| Bad | 300-629. | 21.93%. |
May 14, 2024
Here's the monthly payment if you borrow $10,000
| Interest Rate | 2-Year Repayment Timeline | 5-Year Repayment Timeline |
|---|
| 11.48% | $468 per month, $1,239.44 in total interest | $220 per month, $3,189.54 in total interest |
| 15.00% | $485 per month, $1,636.80 in total interest | $238 per month, $4,273.96 in total interest |
1 more rowAug 22, 2023
