Imagine having credit card debt with an interest rate of 32% and being able to take a personal loan to bring down the length of the loan and the interest rate to only 9.2%. This is one of the many scenarios where Americans are trying to flee the credit card market and land in the safe haven provided by personal loans.

It is important to understand that just like with any other type of borrowing instrument, your credit score will have an important impact on the amount you will be charged in interests. Chances are that if you have a very dented credit score you won’t get such a preferential treatment like in the example of above, but in most cases, you would still be able to refinance and consolidated at a much lower rate to what you are currently paying.

Another important aspect of Personal Loans is the fact that applications on most of the firms can be done online, this allows individuals to fill the documents without living the tranquillity of their house or office. Even if it doesn’t sound like a big deal, this has become one of the key elements that make Americans choose personal loans over any other vehicle that would request visiting a branch. It is worth mentioning that this also allows for an overall cheaper experience since these institutions are not incurring overhead or fixed expenses from keeping employees and a branch available. It also allows for individuals from all states to apply, effectively making these products available countrywide.

In this article, we will go through the very best personal loan providers available in 2021. Even though we’ve done a very extensive comparison and a review of the market, it is important for all individuals to perform their deep review and to analyze all available options before making a financial decision. This is a relatively large market and it has many different players, it is very likely that you will find the right type of institution if you take your time.