One of the factors that many loan applicants pay close attention to is the interest rate on their financing. If you are planning to apply for online loanssoon, you may have big plans to use the money for a specific purpose. Some common uses are to make home repairs, to pay an insurance deductible, to redecorate the house and more. However, you need to keep your interest rate as low as possible so that your loan payment is affordable. There are numerous strategies that you can use to find a lower rate for installment loans.