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Personal loan interest rates on most unsecured loans range between 4.99% and 36%. Comparing rates, monthly payments, and repayment terms from different lenders can help you find a loan that works for your budget.
Average personal loan interest rates
You can get personal loans from several different sources, including online lenders, banks, and credit unions. Here are your options when it comes to finding a personal loan:
- Interest rates for personal loans from online lenders
- Interest rates for personal loans from banks
- Interest rates for personal loans from credit unions
- Interest rates based on credit scores
- Personal loan lenders with some of the lowest rates
Interest rates for personal loans from online lenders
While you can find low-interest loans from banks and credit unions, online lenders often offer the most competitive rates. Plus, you can typically get your money quickly; some lenders will disburse your funds in as little as one business day.
The personal loan companies in the tables below compete for your business through Credible. You can request rates from all of these partner lenders by filling out just one form (instead of one form for each) and without affecting your credit score.
| Lender | Fixed rates | Loan amounts |
|---|---|---|
Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 9.95% - 35.99% APR | $2,000 to $35,000** |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.79% - 17.99% APR | $5,000 to $35,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.99% - 29.99% APR | $5,000 to $50,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.99% - 24.99% APR | $2,500 to $35,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 7.99% - 29.99% APR | $7,500 to $50,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 10.68% - 35.89% APR | $1,000 to $40,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 15.49% - 35.99% APR | $2,000 to $36,500 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 2.49% - 19.99% APR | $5,000 to $100,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.99% - 19.99% APR1 | $3,500 to $40,0002 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 18.00% - 35.99% APR | $1,500 to $20,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.99% - 24.99% APR | $5,000 to $40,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.99% - 17.99% APR | $600 to $20,000 (depending on loan term) |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.95% - 35.99% APR | $2,000 to $40,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.99% - 18.83% APR | $5,000 to $100,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 8.93% - 35.93% APR7 | $1,000 to $20,000 |
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 5.94% - 35.97% APR | $1,000 to $50,000 |
|
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Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
| 6.46% - 35.99% APR4 | $1,000 to $50,0005 |
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Interest rates for personal loans from banks
If you have a checking or savings account with a brick-and-mortar bank, it’s a good idea to check with your local branch to see if it offers personal loans. Existing customers can often qualify for a loan with competitive interest rates because they already have a relationship with the bank. Typically, rates from banks can range from 5.99% to 24.99%.
| Lender | Amount |
|---|---|
| Citizens | $5,000 - $50,000 |
| Wells Fargo | $3,000 - $100,000 |
| CitiBank | $2,000 - $50,000 |
| PNC Bank | $1,000 - $35,000 |
| TD Bank | $2,000 - $50,000 |
| Fifth Third Bank | $2,000 - $25,000 |
Interest rates for personal loans from credit unions
Credit unions are nonprofit organizations. Because their focus isn’t on big returns, they’re able to pass on the savings to their members in the form of low-interest loans. Typically, rates from credit unions can range from 6.49% to 17.99%.
| Lender | Amount |
|---|---|
| PenFed Credit Union | $500 - $25,000 |
| USAA | $2,500 - $20,000 |
| Fairwinds Credit Union | $1,000 and up |
| Alliant | $1,000 - $50,000 |
Interest rates based on credit scores
The rate a lender offers you is dependent on many different factors, including:
- Your credit score
- The amount you borrow
- The selected repayment term
In general, an excellent credit score will help you get the lowest available rate. By contrast, if you have fair or even poor credit, you’ll likely end up with a higher interest rate.
Personal loan lenders with some of the lowest rates
Taking out a personal loan can be a smart way to save money on a major purchase or to accelerate your debt repayment. By working with a reputable lender, you can save yourself time and frustration. We’ve researched interest rates and loan terms to find the best lenders out there. Here are two personal loan lenders that offer the lowest interest rates as of June 2019.
LightStream
Fixed rates from 2.49% - 19.99% APR
If you have good credit, LightStream offers some of the best rates of any online lender. You can borrow up to $100,000 to fund major expenses like home renovations, car repairs, or debt consolidation. Plus, you can get your money as soon as the same business day.
Check out our LightStream review for more info.
Marcus
Fixed rates from 6.99% - 19.99% APR1
With Marcus, you can borrow up to $40,000 and have up to six years to pay it off. There are no fees and you can choose a monthly payment option that works for your budget.
Check out our Marcus review for more info.
Payoff
Fixed rates from 5.99% - 24.99% APR
Payoff is an online lender that offers some unique benefits. Not only can you borrow up to $35,000, but Payoff also offers flexible repayment options. If you lose your job, they’ll work with you on payments so you can get back on your feet.
Check out our Payoff review for more info.
How to get the lowest personal loan interest rates
Before submitting your application for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the best rates. But don’t worry; this doesn’t have to be a time-consuming process.
Credible makes it easy. Just enter how much you want to borrow and you’ll be able to compare multiple lenders and their rates so you can choose the one that makes the most sense for you.
About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
1Rate reduction of 0.25% when enrolled in autopay.
2You may be required to have some of your funds sent directly to pay off outstanding unsecured debt.
3After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. Marcus will waive any interest incurred during the deferral and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.
4Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.
