Personal loan rates refer to the interest rates applied to loans based on factors like your credit score, income, and financial history. A soft search is a way for lenders to check your credit without it affecting your credit score, allowing them to provide personalised loan options. This can help you see potential rates before making a formal application. When you proceed with a full application, a hard search will be conducted, which could impact your credit score. To better understand your options, consider consulting a regulated financial adviser.