As a result of the majority of personal loans are of the unsecured kind. For instance, a 3-12 months $10,000 mortgage with a Prosper Ranking of AA would have an rate of interest of 5.31% and a 2.41% origination fee for an annual percentage charge (APR) of 6.95% APR. Different lenders have completely different criteria for who they give loans to so examine suppliers and solely apply for as a lot cash as you need.