Who ranks for “personal loan rates”

Current personal loan interest rates range from 6% to 36% APR, with overall national averages sitting between 12% and 14% depending on your repayment term.

Current Average Rates

36-Month Term: National average is around 13.19% APR. 60-Month Term: National average is around 14.29% APR. Best Rates (Excellent Credit): Rates can start as low as 5.96% to 6.74% APR for well-qualified borrowers.

What Affects Your Rate?

Credit Score: Higher scores unlock the lowest advertised rates. Borrowers with scores under 700 typically see average rates above 13%. Loan Term: Shorter repayment periods (like 3 or 4 years) usually carry lower interest rates than longer terms (like 5 or 7 years). Lender Type: Online lenders, traditional banks, and credit unions offer varying rate tiers. You can review current market trends and analysis on Bankrate. Fees: Many personal loans include an origination fee ranging from 1% to 10% of the loan amount, which is deducted before you receive your funds.

To compare specific offers and estimated requirements, check the latest guide on Experian. For specific bank offers, you can check rates directly with institutions like Wells Fargo or Rate.

If you share your approximate credit score and how much you want to borrow, I can give you a better idea of what monthly payments and rates you might expect.