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This week's personal loan rates fall for 3- and 5-year loans

Check out the latest trends in personal loan interest rates from the Credible marketplace, updated weekly.

By Meredith Mangan

Written by

Meredith Mangan

Senior Editor

Meredith Mangan is a Senior Editor for Personal Finance, specializing in personal loans. Since 2011, she’s helped steer content creation in the areas of mortgages and loans, insurance, credit cards, and investing for major finance verticals, including Investopedia, Money Crashers, Credible, and The Balance Money.

Edited by Savannah Plasch

Written by

Savannah Plasch

Savannah is an Editorial Assistant at Credible. She earned her BA from UCLA in 2020 and is currently pursuing her MFA in Creative Writing at Queens University of Charlotte.

Updated June 17, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”


Average personal loan rates have fallen for 3- and 5-year terms. Here are the latest trends in personal loan interest rates from the Credible marketplace, updated weekly.

During the week ending June 16, 2024:

  • Average personal loan rates* on 3-year loans were at 15.48%, down from 15.80% last week and up from 14.10% a year ago.
  • Average personal loan rates* on 5-year loans were at 18.76%, down from 19.31% last week and up from 18.30% a year ago.

The chart above shows average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender. The chart shows average weekly rates for the last year.

Personal loans are a popular way to consolidate and pay off credit card debt and other loans. Whether it makes sense to take out a personal loan often depends on what rate you can qualify for, so it makes sense to request rates from multiple lenders.

Current personal loan interest rates by credit score

Rates on personal loans vary considerably by credit score and loan term. The chart above shows borrowers with fair to poor credit tend to be offered higher rates.

All lenders who offer personal loans through the Credible marketplace offer fixed-rate loans. Keep in mind that all lenders use different methods to evaluate borrowers. Prequalify with multiple lenders to see rates you might qualify for with each lender and compare your options.

You can compare rates from all of the lenders below without affecting your credit score. Note that when you formally apply, most lenders will conduct a hard credit inquiry, which can temporarily ding your score.

Advertiser Disclosure

Credible rating

Fixed (APR)

6.99% - 25.49%

Loan Amounts

$5000 to $100000

Min. Credit Score


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Credible rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score