Because the vast majority of personal loans are of the unsecured type. For instance, a 3-year $10,000 loan with a Prosper Score of AA would have an rate of interest of 5.31% and a 2.forty one% origination charge for an annual proportion fee (APR) of 6.95% APR. Different lenders have completely different criteria for who they offer loans to so compare providers and solely apply for as much money as you need.