Personal Loans Rates
Personal loans are unsecured installment loans repaid in fixed monthly payments. Rates depend on creditworthiness, income, and term; lenders disclose the APR before you sign.
Quick answer
Current cited benchmarks — 24-month personal loan, commercial banks: 11.86% (as of 2026-Q2).
Benchmarks
| Benchmark | Rate | Source |
|---|---|---|
| 24-month personal loan, commercial banks G.19 Terms of Credit, commercial bank interest rates, not seasonally adjusted. | 11.86% as of 2026-Q2 | Board of Governors of the Federal Reserve System federalreserve.gov |
National averages for context, not offers. Retrieved 2026-09-10 — always confirm the latest published figure at the source link.
Frequently asked questions
How is a personal loan monthly payment calculated?
With standard amortization: M = P·r·(1+r)^n / ((1+r)^n − 1), where r is the monthly rate (APR ÷ 12) and n is the number of payments. Our calculator above applies exactly this formula.
What is an origination fee and how does it affect cost?
Some lenders deduct a fee (often 1–8% of the loan) from the amount disbursed. You still repay the full balance, so the fee raises the effective APR — the personal loan calculator shows net proceeds and effective APR.
Does checking my rate hurt my credit score?
Comparing estimates with a calculator never affects credit. A formal application may trigger a hard inquiry; pre-qualification checks with lenders are typically soft inquiries.
What APR will I actually get?
It depends on creditworthiness, income, and term. The Federal Reserve G.19 24-month commercial-bank rate on the rates page is a national benchmark, not an offer — your lender discloses your APR before you sign.
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Cite this page
LoanMatchers Editorial Team. “Personal Loans Rates.” https://loanmatchers.com/rates/personal/. Accessed 2026-09-10.
Sources
- Consumer Financial Protection Bureau — Ask CFPB — Consumer Financial Protection Bureau — consumerfinance.gov
- FRED series TERMCBPER24NS — 24-month personal loan rate — Federal Reserve Bank of St. Louis / Federal Reserve Board — fred.stlouisfed.org
- Federal Reserve Statistical Release G.19, Consumer Credit — Board of Governors of the Federal Reserve System — federalreserve.gov
Benchmarks are national averages from the publishers above, not offers. See our methodology.
Not financial advice. LoanMatchers is not a lender. Rates and terms vary by lender and creditworthiness. This page provides general educational information, not financial advice — consult a qualified professional before making financial decisions.
By the LoanMatchers Editorial Team. Last updated 2026-09-10. Educational information only — not financial advice.