Grace Enfield, Content Writer
@grace_enfield
A good interest rate for a signature loan is 5.99% - 9%. The best signature loans have interest rates as low as 5.99%, depending on your creditworthiness, and the average interest rate for a 2-year loan is 9.41%, according to the Federal Reserve.
For your convenience, below are some good interest rates for signature loans by credit level.
Good Interest Rates for Signature Loans by Credit Level
| Credit Level | Good Interest Rate |
| Excellent (750 - 850) | Under 9% |
| Good (700 - 749) | Under 16% |
| Fair (640 - 699) | Under 22% |
| Bad (300 - 639) | Under 27% |
Note: Rates are below the average for each credit level, according to WalletHub data.
Now that you know a little more about what a good interest rate for a signature loan is, you can start comparing offers. To see the top-ranked offers, check out WalletHub’s picks for the best signature loans. You can also estimate your potential rates with our free pre-qualification tool.
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What credit score do you need for a signature loan?
You need a credit score of at least 580 to qualify for a signature loan in most cases. Lenders that offer signature loans typically have minimum credit score requirements of 580 or higher, though you will likely need a better score to get approved for a loan with no origination... read full answer
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