Personal Loan Rates: What You'll Actually Pay
| Bank average, 24-month personal loan | 11.90% (Fed G.19, Aug 2026, preliminary) |
|---|---|
| Credit union average, 36-month unsecured | 10.64% (NCUA, Dec 26, 2025) |
| Bank average, 36-month unsecured | 12.00% (NCUA, Dec 26, 2025) |
| Federal credit union ceiling | 18% (temporary, extended to Sept 10, 2027) |
| Rates set by | Lender, within your state's limits |
| Amounts via our network | $100–$5,000 |
Average personal loan interest rates today
There's no single "personal loan rate." Each lender prices each loan. But official sources publish averages that give you a useful benchmark:
| Source | Measure | Rate | Period |
|---|---|---|---|
| Federal Reserve G.19 | Commercial banks, 24-month personal loans | 11.90% | August 2026 (preliminary) |
| Federal Reserve G.19 | Same measure | 11.86% | Q2 2026 (revised) |
| Federal Reserve G.19 | Same measure | 11.36% | Q1 2026 |
| Federal Reserve G.19 | Same measure, annual | 11.50% | 2025 |
| NCUA | Credit unions, unsecured fixed-rate, 36 months | 10.64% | December 26, 2025 |
| NCUA | Banks, unsecured fixed-rate, 36 months | 12.00% | December 26, 2025 |
The Fed's figure is a simple average of the most common rate at the banks it surveys, taken once a quarter. It describes bank lending to their own customers, which tends to favor borrowers with strong credit. Many people searching for personal loan rates today, especially with fair or bad credit, will see offers above these averages.
Use these averages as a reference point, not a target. When an offer arrives, check its APR against the table, then look at the monthly payment and total of payments to decide whether it fits your budget. A higher-than-average rate on a small, short loan can still mean a modest dollar cost, as the examples below show.
What a personal loan costs per $100 borrowed
Percentages are hard to picture. This table shows the total interest you'd pay for every $100 borrowed, repaid in equal monthly payments:
| APR | 12 months | 24 months | 36 months |
|---|---|---|---|
| 10.64% | $5.86 | $11.46 | $17.25 |
| 18% | $10.02 | $19.82 | $30.15 |
| 24% | $13.47 | $26.89 | $41.24 |
| 30% | $16.98 | $34.19 | $52.83 |
| 36% | $20.55 | $41.71 | $64.89 |
Two things jump out. A lower APR saves money, and so does a shorter term: at 24%, borrowing for 12 months costs about $13.47 per $100, while 36 months costs about $41.24. Multiply by your loan size: a $2,000 loan at 24% over 12 months costs about $269 in interest.
Sample monthly payments on a $3,000 loan
| APR | 12 months | 24 months | 36 months |
|---|---|---|---|
| 11.90% | $266.41/mo ($3,196.87 total) | $141.08/mo ($3,385.93) | $99.50/mo ($3,581.99) |
| 18% | $275.04/mo ($3,300.48) | $149.77/mo ($3,594.54) | $108.46/mo ($3,904.46) |
| 24% | $283.68/mo ($3,404.15) | $158.61/mo ($3,806.72) | $117.70/mo ($4,237.15) |
| 36% | $301.39/mo ($3,616.64) | $177.14/mo ($4,251.41) | $137.41/mo ($4,946.81) |
These are illustrations, not quotes. A longer term lowers the payment but raises the total. Try your own amount with the personal loan calculator.
Worked example: what the rate means on a $1,500 loan
Many people borrowing for a car repair or a past-due bill need less than $3,000. Here's how the rate changes a $1,500 loan repaid over 12 months:
| APR | Monthly payment | Total of payments | Interest |
|---|---|---|---|
| 18% | About $137.52 | About $1,650.24 | About $150 |
| 30% | About $146.23 | About $1,754.77 | About $255 |
| 36% | About $150.69 | About $1,808.32 | About $308 |
The gap between 18% and 36% is about $13 a month, or about $158 over the year. The term matters as much: the same $1,500 at 30% over 24 months drops to about $83.87 a month, but the total rises to about $2,012.86. If a fee is deducted from the loan, factor that in too; the APR on your disclosure already includes required fees, which is why comparing APRs is the cleanest way to compare offers.
Want to see the rate you'd actually get? See if you qualify in about 3 minutes.
What decides your rate
- Credit history and score. Higher scores generally get lower rates. See what is a good credit score.
- Income and existing debts. Lenders want to see that the payment fits your budget.
- Loan amount and term. Small, short loans and long loans can both be priced differently.
- Fees. An origination fee raises the APR above the interest rate. See APR vs interest rate.
- Your state. State law can cap rates or fees on consumer loans.
- The lender. Banks, credit unions and online lenders serve different borrowers and price differently.
Federal credit unions also face a ceiling: the NCUA Board extended a temporary 18% interest rate ceiling on federal credit union loans to September 10, 2027.
What to have ready for a real quote
To get an actual offer rather than an average, lenders need your ID and Social Security number, your income source, take-home pay and pay schedule, your monthly housing cost, and your checking account details. Accurate numbers lead to a firmer offer.
State rate caps on personal loans
Many states limit the interest or fees on consumer installment loans, often with tiers that change by loan size. Others set few limits for licensed lenders. That's why the same borrower can see different offers in different states. Look up your state's rules below or on personal loan rates by state.
| State | Rate cap on consumer installment loans | License required |
|---|---|---|
| Alabama | Tiered caps. | Yes. |
| Alaska | Licensed small lenders: 3%/month on the first $850, 2%/month on the part up to $10,000, and any agreed rate on the part from $10,000 to $25,000. | Yes, to make loans of $25,000 or less at more than the rate an unlicensed lender may charge. |
| Arizona | 36% a year up to $3,000; 24% on the part above $3,000 (consumer loans up to $10,000). | Yes. |
| Arkansas | 17% a year maximum for non-bank lenders, set by the state constitution. | — |
| California | Under $2,500: tiered 12%-30%/yr. | Yes. |
| Colorado | Supervised lenders: 21%, or tiered 36%/21%/15%; unlicensed lenders capped at 12%. | Yes. |
| Connecticut | 36% APR under $5,000; 25% APR $5,000-$50,000; all-in MLA-style APR. | Yes. |
| Delaware | No cap; licensed lenders may charge any rate the agreement states. | Yes. |
| District of Columbia | 24% a year cap; licensed money lenders must include all fees. | Yes. |
| Florida | Licensed consumer finance lenders: 36% a year on the first $10,000, lower tiers above, for loans up to $25,000. | Yes. |
| Georgia | Loans $3,000 or less need an installment lender license; above $3,000, any written rate. | Yes for loans of $3,000 or less. |
| Hawaii | Installment loans up to $1,500: 36% interest plus monthly fee; 12%/24% otherwise. | Yes. |
| Idaho | No rate cap; licensed lenders may charge any rate agreed in the contract. | Yes. |
| Illinois | 36% APR all-in cap on consumer loans; installment lenders up to $40,000. | Yes. |
| Indiana | Supervised loans: 36% to $2,600, 21% to $5,200, 15% above (or 25%). | Yes. |
| Iowa | Regulated lenders: rates set by Banking Superintendent rule; 2026 rule rewrite unclear. | Yes. |
| Kansas | 36% a year cap on closed-end consumer loans; open-end credit uncapped. | Yes. |
| Kentucky | Tiered monthly caps: 3% to $5,000, 2.42% to $10,000, 2.25% to $15,000. | Consumer loan companies must be licensed by DFI; applications go through NMLS. |
| Louisiana | Blended tiers: 36% to $1,400, 27% to $4,000, 24% to $7,000, 21% above. | Anyone in the business of making consumer loans must hold a consumer loan license from OFI before making loans; loans may be made only from… |
| Maine | Tiered: 30% to $2,000, 24% to $4,000, 18% above; 18% if over $8,000. | Non-bank lenders must hold a supervised lender license from the Bureau to make or service supervised loans (loans with a rate above… |
| Maryland | 33% APR on first $1,000 (loans to $2,000); 24% otherwise. | Most consumer lenders must be licensed by the Commissioner of Financial Regulation; licenses can be checked on NMLS Consumer Access. |
| Massachusetts | 23% APR plus $20 fee on loans up to $6,000; 20% usury above. | Yes. |
| Michigan | 25% APR cap for licensed lenders, plus processing fee up to 5%. | Lenders making loans under the Regulatory Loan Act must be licensed (the Act refers to 'licensees'). |
| Minnesota | Greater of 21.75% APR or 33% to $1,425/19% above; small loans 50%. | Yes. |
| Mississippi | Tiered 36%-14% APR; 59% to $5,330; credit availability 25%/month to $3,320. | Yes. |
| Missouri | No rate cap: licensed lenders may charge rates agreed by the parties. | Yes. |
| Montana | Licensed consumer lenders may charge no more than 36% a year interest, plus limited deferral and late fees. | No one may be in the business of making consumer loans in any amount unless the Consumer Loan Act authorizes it. |
| Nebraska | Licensed installment lenders: 24% on first $1,000, 21% above; loans up to $25,000. | Anyone in the business of making installment loans needs a Nebraska installment loan license, as does anyone who holds, services or deals… |
| Nevada | No general rate cap; loans above 40% APR need a 604A high-interest license. | Anyone in the business of lending in Nevada needs a license from the Commissioner, for each office. |
| New Hampshire | 36% APR cap on small loans up to $10,000, excluding two $100 yearly fees. | No one may be in the business of a small loan lender in New Hampshire, or with New Hampshire consumers, without a license. |
| New Jersey | Licensed lenders set agreed rates; criminal usury caps loans to individuals at 30%. | A consumer lender license is required to make personal, family or household loans of $50,000 or less, repayable in installments, at rates… |
| New Mexico | 36% APR all-in cap on loans up to $10,000 (raised from 175%). | No one may be in the business of lending $10,000 or less without a license from the director. |
| New York | Licensed lenders may exceed 16% civil cap; 25% criminal usury applies. | A license is needed to be in the business of making personal, family, household or investment loans of $25,000 or less (or business loans… |
| North Carolina | Tiered caps: 33% on first $4,000, 24% to $8,000, 18% above. | Anyone in the business of lending or servicing loans of $25,000 or less at charges above what Chapter 24 allows needs a license from the… |
| North Dakota | 36% APR cap (including origination charges) for licensed lenders; loans under $2,000 limited to 36 months with equal payments. | A money broker license from the Department of Financial Institutions is required to arrange or make loans to North Dakota residents, unless… |
| Ohio | Licensed lenders capped at 21%-28% a year depending on license; Consumer Installment Loan Act 25%. | Yes. |
| Oklahoma | Supervised loans: about 32% plus fed funds rate (tiered); small loans: 17% monthly. | Yes. |
| Oregon | 36% APR (or discount rate plus 30 points) on licensed loans up to $50,000. | Yes. |
| Pennsylvania | Licensed consumer discount companies: $9.50 per $100 yearly add-on plus fees; unlicensed: 6%. | Yes. |
| Rhode Island | Small loans up to $5,000: 2%-3% per month (24%-36% a year) by size. | Yes. |
| South Carolina | No cap over $600 (filed and posted rates); Consumer Finance Act schedule up to $7,500. | Yes. |
| South Dakota | 36% APR cap, all fees included, for every licensed money lender. | Yes. |
| Tennessee | 36% effective rate for industrial loan and thrift loans of $100+ (since July 2025); flex loans 24% plus fee. | Yes. |
| Texas | Tiered caps for licensed Chapter 342 lenders: up to 30% a year on the first $4,600, 24% on the part from $4,600 to $9,660, and 18% on the part up to $23,000 (amounts for loans made July 1, 2026 to… | A Chapter 342 license is required to make, transact or negotiate loans that charge more than other law allows. |
| Utah | No rate cap: parties may agree to any finance charge; lenders must notify DFI. | Not a license as such: a creditor subject to the Consumer Credit Code must file a notification with DFI at least 30 days before starting… |
| Vermont | 24% on first $1,000, 12% above (or 18% APR if higher). | Yes. |
| Virginia | 36% simple annual interest on licensed $300-$35,000 installment loans. | Yes. |
| Washington | 25% simple annual interest cap plus up to 4% origination fee (Consumer Loan Act). | Yes. |
| West Virginia | 31% up to $3,500; 27% to $15,000; 18% above. | Yes. |
| Wisconsin | No rate cap for DFI-licensed lenders; license needed above 18%. | A DFI license is required to make a consumer loan with a finance charge above 18% a year, to take an assignment of such a loan, or to… |
| Wyoming | 36% on first $1,000, 21% above, for loans up to $75,000. | Yes. |
Verified against state statutes and regulators; click a state for citations. Last verified 2026-10-25.
For state-specific detail, open your state's page, such as Texas, California or Florida, where rules for licensed lenders differ by loan size.
How to get a better rate
- Borrow only what you need. Less principal means less interest.
- Choose the shortest term with a payment you can comfortably make.
- Compare APRs, not just payments, and check the total of payments.
- Fix credit report errors before you apply; see how to fix your credit score.
- Prequalify where offered, which usually uses a soft inquiry.
- Pay early if allowed without a penalty to cut interest.
Common mistakes
- Comparing interest rates instead of APRs. A lower rate with a big fee can cost more.
- Focusing only on the monthly payment. A longer term can hide a much larger total.
- Assuming the average applies to you. Averages lean toward strong-credit bank customers; your offer is the number that counts.
- Submitting many separate applications. One form through our network reaches multiple lenders at once.
See your actual rate in minutes
Averages are only a guide. The fastest way to know your rate is to see a real offer. Zebra Finance is a free matching service, not a lender. One short form shares your request with lenders in our network that serve your state, for about $100 to $5,000. All credit types can apply, and many lenders focus on income and bank activity rather than only your score. Each lender shows the exact APR, monthly payment and total before you sign.
See if you qualify — it takes about 3 minutes. Start your free request. There is no obligation to accept an offer.
Frequently asked questions
What is the average personal loan interest rate?
The Federal Reserve's G.19 release shows an average of 11.90% for 24-month personal loans at commercial banks in August 2026 (preliminary) and 11.86% for Q2 2026. NCUA data for December 26, 2025 show 10.64% at credit unions and 12.00% at banks for 36-month unsecured loans. Individual offers can be higher or lower.
What is a good interest rate on a personal loan?
A rate at or below the published averages, around 11% to 12% at banks, is generally competitive, but what's good for you depends on your credit and the alternatives you have. Compare the APR and total of payments across offers, and weigh it against the cost of what you're paying off or paying for.
Why is my personal loan rate higher than the average?
Published averages come largely from banks lending to their own customers, often with strong credit. Rates are usually higher for lower credit scores, thin credit files, smaller loans, higher existing debt, or loans with origination fees. Your state's rules and the type of lender also matter.
How much interest will I pay on a $5,000 personal loan?
It depends on the APR and term. For example, $5,000 at 15% APR over 36 months is about $173.33 a month, roughly $1,239.76 in interest. At 24% over 24 months, it's about $264.36 a month and $1,344.53 in interest. Your lender shows the exact cost before you sign.
Do credit unions have lower personal loan rates?
On average, yes. NCUA data for December 26, 2025 show 10.64% for 36-month unsecured loans at credit unions versus 12.00% at banks. Federal credit unions are also subject to an interest rate ceiling, currently a temporary 18% extended to September 10, 2027. Membership is usually required.
What personal loan rate can I get with bad credit?
It depends on the lender, your income, the amount, the term and your state, so there's no single number. Offers for fair or bad credit are often above the Federal Reserve and NCUA averages. The quickest way to know is a real offer: our form reaches lenders in our network that consider all credit types, and each shows the exact APR before you sign.
Does checking personal loan rates hurt my credit?
Prequalifying usually uses a soft inquiry, which doesn't affect your credit score. A formal application may add a hard inquiry, which can have a small, temporary effect. Many lenders in our network also use alternative credit data. Ask the lender which type of check it uses before you move ahead.
Sources
- Federal Reserve — G.19 Consumer Credit (Terms of Credit)
- NCUA — Credit Union and Bank Rates 2025 Q4
- NCUA — Board extends loan interest rate ceiling (2026)
- eCFR — 12 CFR Part 1026 (Regulation Z, Truth in Lending)