Updated March 10, 2026
Today's Best Personal Loan Rates
Current personal loan rates by credit score tier.
Excellent Credit (750+)
8.50%
Good Credit (700-749)
12.50%
Fair Credit (640-699)
18.75%
Rate Trends
Excellent Credit (750+)
Good Credit (700-749)
Fair Credit (640-699)
Lender Comparison
Personal Loan Rates — Lender Comparison
| Lender | Rate ↑ | APR ⇅ | |
|---|---|---|---|
LightStreamFeatured | 6.99% | 6.99% | Apply Now |
UpstartFeatured | 7.80% | 8.30% | Apply Now |
Discover | 8.49% | 8.49% | Apply Now |
SoFiFeatured | 8.99% | 8.99% | Apply Now |
Prosper | 8.99% | 9.49% | Apply Now |
Marcus | 9.49% | 9.49% | Apply Now |
Understanding Personal Loan Rates
What Affects Personal Loan Rates
Personal loan rates depend heavily on your credit score, debt-to-income ratio, income, and employment history. Because personal loans are unsecured (no collateral), rates are higher than secured loans like mortgages. Loan amount and term also affect the rate, with smaller loans and shorter terms sometimes getting better rates.
Fixed vs Variable Rates
Most personal loans have fixed rates, meaning your rate and payment stay the same for the entire loan term. Some lenders offer variable-rate personal loans that start lower but can increase over time. For debt consolidation or budgeting certainty, fixed-rate loans are usually the better choice.
APR vs Interest Rate
For personal loans, the APR includes the interest rate plus any origination fees spread over the loan term. If a lender charges a 5% origination fee, the APR will be noticeably higher than the stated interest rate. Lenders with no origination fees will have APR equal to (or very close to) the interest rate.
Origination Fees and Total Cost
Origination fees range from 1-8% of the loan amount and are either deducted from your loan proceeds or added to the balance. A $10,000 loan with a 5% fee means you receive only $9,500 but repay $10,000 plus interest. Always factor in origination fees when comparing personal loan offers.
Historical Context
Personal loan rates vary significantly by credit tier. Borrowers with excellent credit (750+) can find rates under 9%, while fair credit borrowers may see rates above 18%. The spread between credit tiers has widened in the current environment. No-fee lenders are increasingly competitive.
How to Get the Best Personal Loan Rate
Compare APR (not just rate) to see the true cost including fees.
Many top lenders offer no origination fee — avoid fees if possible.
Use personal loans to consolidate high-interest credit card debt for savings.
Prequalify with multiple lenders using soft credit checks to compare without hurting your score.
Autopay discounts (0.25-0.50%) are common and easy savings.
Get Notified When Personal Loan Rates Drop
Set a custom threshold and receive instant alerts when personal loan rates fall below your target. Never miss the perfect rate window.
Calculate What These Rates Mean for You
Frequently Asked Questions
What can I use a personal loan for?
Personal loans can be used for almost any purpose, including debt consolidation, home improvements, medical expenses, weddings, vacations, or major purchases. Unlike auto or mortgage loans, personal loans are typically unsecured, meaning no collateral is required.
How do personal loan rates compare to credit card rates?
Personal loan rates are significantly lower than credit card rates for most borrowers. As of March 2026, personal loan rates range from 6.99-18.75% depending on credit, while credit card APRs average around 20.74%. This makes personal loans a popular choice for consolidating credit card debt.
What is an origination fee?
An origination fee is a one-time charge by the lender to process your loan, typically ranging from 1-8% of the loan amount. It is deducted from your loan proceeds or added to the balance. Many top lenders charge no origination fee, so it is worth shopping around.
How quickly can I get a personal loan?
Many online lenders can approve and fund personal loans within 1-3 business days. Traditional banks may take longer, typically 3-7 business days. Some lenders offer same-day or next-day funding for qualified borrowers.
Will applying for a personal loan hurt my credit?
Most reputable lenders offer prequalification with a soft credit check, which does not affect your credit score. A hard credit inquiry occurs only when you formally apply and accept a loan offer. This hard inquiry may temporarily lower your score by a few points.
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Rates shown are for informational purposes only and do not constitute a loan offer or financial advice. All rates are subject to change without notice. Last updated: March 10, 2026.