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 | 6.4% - 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
Where to get a $30,000 loan
| Lender | APR range | Minimum credit score requirement |
|---|
| LightStream | 7.49%-25.49%* (with AutoPay) | 695 |
| Upgrade | 8.49%-35.99% (with autopay) | 600 |
| SoFi | 8.99%-29.49% (with autopay) | 680 |
| Upstart | 7.80%-35.99% | No requirement |
2 more rowsMay 20, 2024
For example, the interest on a $30,000, 36-month loan at 6% is $2,856.
What is the effective rate of interest if an amount of 30000? ›
Y=30000 , Z=10% per annum ,T = 1 Year and N=2 for compounded semi annually. Thus,the value of the effective rate of interest is 10.25% and option(d) is correct.
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? ›
FAQ: $30,000 Personal Loans
Generally, a score of 670 or higher is recommended to access better interest rates and terms. However, some lenders may accept lower scores but will compensate for the increased risk with higher interest rates and less favorable terms.
What is a good interest rate on a loan right now? ›
Average 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
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 to calculate loan interest rate? ›
To calculate interest rates, use the formula: Interest = Principal × Rate × Tenure. This equation helps determine the interest rate on investments or loans. What are the advantages of using a loan interest rate calculator? A loan interest rate calculator offers several benefits.
How fast can I pay off $30,000? ›
If you only make the minimum payment each month, it will take about 460 months, or about 38 years, to pay off that $30,000 balance. And, you'll pay a staggering $54,359.80 in interest charges along the way, which means the interest you pay will be well above the original principal balance you started with.
Ways to clear your debt
- Informally negotiated arrangement.
- Free debt management plan (DMP )
- Individual voluntary arrangement (IVA)
- Bankruptcy.
- Debt relief order (DRO)
- Administration order.
- Debt consolidation and credit.
- Full and final settlement offer.
Credello: Studies show that Millennials often have debt. The average amount is almost $30K. Some have more, while others have less, but it's a sobering number. There are actions you can take if you're a Millennial and you're carrying this much debt.
What is the interest rate of 30000 at 7 percent? ›
30000 at 7 % per annum is Rs. 4347 .
What is a loan of 30000 at the interest rate of 6? ›
Answer. TOTAL TIME:5 YEARS. 30000%6=1800. 1800×5YEARS=9121.89 .
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.
