All personal loan rates must illustrate the Annual Percentage Rate or APR. This is the interest rate that will be applied to your loan and is the figure you should compare when shopping around to compare personal loan rates and to help you find the cheapest personal loan. Where you see the words typical APR, it means that the actual rate of interest you are charged will depend upon your credit rating, however at least two thirds of applicants that are accepted for a loan with a particular provider will be granted the loan at the typical rate.