Online Lender Rates Comparison

22 Jun 2017

There’s a surprisingly wide array of prices offered for a standard unsecured $10K personal loan for an individual with FICO 700-750 range. For this to be the case, it seems that both:

  1. Similar lending companies have different opinions about optimal pricing, either from an estimated repayment or customer long-term value plays.

  2. Customers shop around less than they should.

Full article and data source: Lending Times

Code for the graph:

# data from
 aprs <-c(6.47, 10.99, 11.95, 11.76, 12.04, 12.12, 12.95, 13.65, 14.00, 13.80, 22.88)

qplot(aprs, geom = "histogram") +
  ggtitle("APR offerings of $10K unsecured personal loan") +
  xlab('APR (%)') +
  ggplot2::scale_x_continuous(labels=6:25, breaks=6:25)