When it comes down to finding the best interest rate possible, there are many things that you can do in order to find that perfect loan.  Where do you start?  Now, that’s the question that you should ask yourself.  I’m going to give you a few tips on how you can find the best interest rate possible either online or in person at your local bank.

Start your research online

I don’t know what kind of loan you want.  It can range from a mortgage to a car loan but this will determine what kind of loan rate you’re going to get.  Whenever I do my research on loan rates, I will head to particular websites like FatWallet.com.  The link I’ve provided is supported by the community.  They will post some of the best rates possible in terms of loans.  I will look at these loan rates and head to the bank’s website.  From there, it will give me a better idea on what they have to offer.

Check the local newspaper

Yes, I know the newspaper seems a little outdated but it still does come equipped with a lot of great information, including interest rates.  Every day or weekend, check out the financial or business section and look for a little section on the rates in your area.  The nice thing about the newspaper is that they are more local than the Internet.  If you want to deal with people face to face, this may be the option for you.

Do the dirty work yourself

If you don’t like any of the options above, you may want to do the dirty work yourself.  This is how I did it in the past and it may work for you.  Write down 10-20 banks and credit unions in your area.  Once you have a list, call them up or go to their website to get information on their interest rates.  You may find that some banks have great unadvertised rates that no one really knew about.

By doing these three options, you should most likely get the best interest rate possible on your loan.  Try your best to research and never go with the first place that you have found.  As long as you do your homework, you should find the best rate.