How to Read This Page
This page provides a snapshot of current personal loan rates. The rates you see are averages based on data from several sources. They are meant to help you understand what range of APRs you might encounter when you compare personal loans.
Your actual rate will depend on your credit profile, the loan amount, the repayment term, the lender, and the date you apply. Because personal loan rates change regularly, the numbers here are a guide, not a quote.
Sources: Bankrate
Rate Table: Average APRs by Credit Score Band
Lenders often group borrowers into credit score bands and advertise typical rates for each group. The table below shows average personal loan interest rates from Credible's marketplace data for loans originated between August 2025 and July 2026. These averages are based on prequalified and closed loans and are not the full range you might be offered.
| Credit band | Average interest rate |
|---|---|
| Excellent | 9.98% |
| Very good | 12.46% |
| Good | 19.22% |
| Fair | 28.69% |
| Poor | 29.76% |
Sources: Credible
Rate Ranges by Loan Term
Loan term is another major factor in the interest rate you pay. Generally, shorter terms come with lower rates but higher monthly payments, while longer terms mean higher rates and lower monthly payments, but more total interest over the life of the loan.
For context, current national average personal loan rates reported by the Federal Reserve, as cited by CNBC Select, are 11.23% for a two-year loan. The Bankrate rate index shows 12.42% for a three-year loan with a $5,000 amount and a 700 FICO score.
Keep in mind that these are averages from specific sources and may not match the offers you see from individual lenders.
Sources: Bankrate, CNBC Select
Why Rates Vary by Lender
If you check rates from multiple lenders, you will see different offers even for the same credit profile. This is because lenders use their own pricing models, which incorporate their cost of funds, risk tolerance, and operating expenses. They also weigh your credit score, income, employment history, debt-to-income ratio, loan size, and the term you choose.
Personal loan rates are not static. They reflect broader economic conditions and market competition. The rates you see on financial websites are snapshots: Bankrate's personal loan rate index was 12.42% on August 19, 2026, and 12.43% the same day using a separate monitor. This slight difference highlights how even major trackers can vary slightly.
For these reasons, a rate advertised today may not be available tomorrow. Always check current offers from individual lenders.
Fixed vs. Variable APR: What the Table Means
Personal loans generally come with fixed or variable rates. A fixed-rate loan keeps the same interest rate for the entire repayment period, so your monthly payments are predictable. A variable-rate loan starts with a fixed period, but the rate can change afterward based on market conditions.
When you see an APR, it includes more than the nominal interest rate. APR stands for annual percentage rate and expresses the total annualized cost of borrowing, including the interest rate plus any upfront fees, such as an origination fee. Comparing APRs gives you a more accurate sense of what you will pay than comparing interest rates alone.
The distinction matters: two loans with the same interest rate but different fees will have different APRs, and the higher-fee loan will cost you more.
Sources: Credible, CNBC Select, Consumer Financial Protection Bureau
How to Get a Personalized Rate Quote
The only way to know what rate you qualify for is to get personalized quotes from lenders. Most lenders allow you to prequalify online; you will likely need to provide details about your income, employment, and desired loan amount. Confirm whether the check is a soft inquiry before proceeding.
When you compare quotes, look at the APR, not just the monthly payment. Also check the loan term, fees, and any prepayment penalties. Because rates and offers change, compare current offers from at least three lenders.
If you have a strong credit score, you are likely to qualify for the lower end of the rate ranges shown. If your credit score is lower, the rates you see will be higher, and you may need to take steps to improve your credit before applying.
Frequently asked questions
Why do lenders show different rates for the same credit score?
Lenders use their own pricing models and consider many factors beyond your credit score, such as your income, debt-to-income ratio, employment history, loan amount, and loan term. Each lender’s cost of funds and risk tolerance also differ. This is why you may see different offers from different lenders, and why rates can vary over time even for the same borrower.
Sources: ExperianDo personal loan rates include all fees?
The APR (annual percentage rate) is designed to include the interest rate plus upfront fees like origination fees. However, it may not include late fees or other penalty charges. Always read the loan agreement to understand all costs.
Sources: Credible, CNBC SelectHow can I compare rates from different lenders accurately?
To compare accurately, use the APR, not just the nominal interest rate, because APR includes upfront fees. Also, compare the same loan term and amount, and check whether the quote is based on a prequalification or a firm offer. Rates vary by lender, so get quotes from several lenders within the same time frame.
Sources: Bankrate, Credible, CNBC SelectSources
- Average Personal Loan Interest Rates in June 2026 - Bankrate — Bankrate
- How To Compare Personal Loans: A Step-by-Step Guide — Credible
- Why is My Personal Loan APR Different Than the Interest Rate? — CNBC Select
- Understand the different kinds of loans available — Consumer Financial Protection Bureau
- What Affects Your Interest Rate: Key Factors Lenders Use — Experian