Average Personal Loan Interest Rates for June 2025
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Average online personal loan rates
Borrower credit rating | Score range | Estimated APR |
---|---|---|
Excellent | 720-850. | 13.31%. |
Good | 690-719. | 16.48%. |
Fair | 630-689. | 20.23%. |
Bad | 300-629. | 20.62%. |
APR ranges for online lenders
Lender | APR range |
---|---|
8.99% - 29.99% . | |
9.95% - 35.99% . | |
6.99% - 35.99% . | |
8.95% - 29.99% . | |
8.99% - 23.35% . | |
7.90% - 35.99% . | |
7.99% - 35.99% . | |
6.49% - 25.29% . | |
16.00% - 35.99% . | |
18.00% - 35.99% . | |
32.93% - 35.95% . | |
8.99% - 35.99% . | |
5.99% - 35.99% . | |
8.71% - 29.99% . | |
8.99% - 35.49% . | |
11.69% - 35.99% . | |
7.99% - 35.99% . | |
6.70% - 35.99% . | |
9.95% - 35.99% . |
Average bank personal loan rates
APR ranges for bank lenders
Average credit union personal loan rates
APR ranges for credit union lenders
Lender | APR range |
---|---|
9.49% - 29.49% . | |
8.14% - 18.00% . | |
8.99% - 18.00% . | |
8.99% - 17.99% . |
Average personal loan rates by credit score
Rates for excellent credit
Rates for good credit
Rates for fair credit
Rates for bad credit
Are current personal loan rates high?
Average online personal loan rates over time
Average bank personal loan rates over time
Average credit union personal loan rates over time
Why lenders charge different personal loan rates
How is your personal loan rate decided?
- Credit score: Many lenders set minimum credit score requirements and may publish this information on their websites. This can help you rule out lenders with credit score requirements well above or below yours.
- Payment history: Your repayment history toward other loans and credit cards is a top factor that lenders use to determine your rate. A long history of on-time payments to multiple creditors will work in your favor, while a history of missed and late payments may contribute to a higher rate.
- Income: Most lenders like to see that you have at least enough money to make monthly loan payments and cover your other bills. Having extra cushion in your budget each month may show the lender that you’re a low-risk borrower and get you a lower rate.
- Debt-to-income ratio (DTI): Your DTI is the percentage of your monthly income that goes toward other debts, such as car, student or mortgage loan payments. Lenders try to avoid providing loans that will overextend borrowers’ budgets, so many like to see a DTI at or below 50%, but lower is better.
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What is a good rate on a personal loan?
What’s the difference between a personal loan APR and interest rate?
Can you refinance a personal loan to get a lower rate?
What are some alternatives to personal loans?
Article sources
- 1. National Credit Union Administration. Payday Alternative Loans Final Rule. Accessed Apr 17, 2025.
- 2. National Bureau of Economic Research. Prodigals and Projecture: An Economic History of Usury Laws in the United States from Colonial Times to 1900. Accessed May 2, 2025.
- 3. Federal Register. Federal Interest Rate Authority: A Rule by the Federal Deposit Insurance Corporation on 07/22/2020. Accessed May 2, 2025.
- 4. Federal Reserve Bank of St. Louis. Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan. Accessed May 23, 2025.
- 5. Consumer Financial Protection Bureau. What Is a Debt Relief Program and How Do I Know if I Should Use One?. Accessed Jan 16, 2025.
- 6. Consumer Financial Protection Bureau. Truth in Lending Act (TILA) examination procedures. Accessed May 2, 2025.
- 7. Experian and Oliver Wyman. Financial Inclusion and Access to Credit. Accessed Jan 23, 2025.
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- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 17, 2025.
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- 11. National Credit Union Administration. Credit Union and Bank Rates 2024 Q4. Accessed May 23, 2025.
- 12. Federal Reserve. Military Lending Act. Accessed May 2, 2025.
- 13. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 24, 2025.
- 14. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Installment Loans. Accessed May 2, 2025.
- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed May 2, 2025.
- 16. Consumer Financial Protection Bureau. What are the costs and fees for a payday loan?. Accessed Jun 6, 2025.
- 17. Internal Revenue Service. Home energy tax credits. Accessed Mar 6, 2024.
- 18. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Lending. Accessed Jun 6, 2025.
- 19. Solar Energy Industries Association. Solar Power Purchase Agreements. Accessed Mar 7, 2024.
- 13. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 27, 2025.
- 21. SolarReviews.com. Homes with Solar Sell for 6.8% More [2024 Zillow Data Study]. Accessed Dec 10, 2024.
- 22. Internal Revenue Service. Retirement Topics - Plan Loans. Accessed Apr 8, 2025.
- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 4, 2025.
- 24. The Pew Charitable Trusts. Payday Loans Cost 4 Times More in States With Few Consumer Protections. Accessed Apr 4, 2025.
- 12. Federal Reserve. Military Lending Act. Accessed Apr 4, 2025.
- 26. Internal Revenue Service. Retirement topics: Exceptions to tax on early distributions. Accessed Apr 8, 2025.
- 27. Administrative Office of the U.S. Courts. Bankruptcy Basics. Accessed Apr 8, 2025.
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