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Check Your Credit Score: A good credit score is crucial in getting a low-interest loan. Lenders often offer better rates to borrowers with higher credit scores. Before applying for a loan, review your credit report and work on improving your credit score if necessary.

Shop Around: Don't settle for the first loan offer you receive. Compare loan offers from multiple lenders, including banks, credit unions, online lenders, and peer-to-peer lending platforms. Each lender may have different interest rates and fees.