Average Personal Loan Interest Rates

The average personal loan interest rate is 17.42% for Q3 2025, according to WalletHub data. Personal loan interest rates can fluctuate drastically based on factors like the borrower’s credit score and where they live, as well as the type of lender the loan comes from. Overall, personal loan interest rates range from around 7% to 36%.

Key Stats

• Average Personal Loan Interest Rate (2025 Q3): 17.42% (WalletHub offers data)
• Average 24-month Personal loan Interest Rates (2024): 12.32%
• Average 36-month Personal loan Interest Rates (2024): 10.80% for Credit Unions & 12.03% for Banks

Average Personal Loan Interest Rates Over Time

The average personal loan interest rate has gone up by 9.77% since Q2 2019.

Note: This data, collected by WalletHub, includes all types of lenders, loan sizes, and payoff periods except for loans available to bad credit individuals.

Average 24-Month Personal Loan APR from Banks

The Federal Reserve keeps data on the average interest rate for two-year personal loans from banks. This rate is significantly lower than the overall average personal loan APR. In addition, it has gone down a lot in the last few decades. This rate peaked in 1981 at 19.21% and hit its lowest point in 2021, at 9.09%.

Note: All values in the table are for Q4 of the corresponding year.

Average 36-Month Personal Loan APR from Banks and Credit Unions

The National Credit Union Administration provides data on the average APR of 36-month unsecured, fixed-rate personal loans from banks and credit unions. The rates are fairly close between the two types of lenders, but credit unions consistently have a slightly lower average. That makes sense because federal credit unions can’t charge an APR higher than 18% by law, and state credit unions also have caps set by the state.

Note: All values in the table are for Q4 of the corresponding year.

Average Personal Loan APR by Credit Score

Individuals with excellent credit scores have an average APR of around 16%, while individuals with bad credit scores face much higher APRs, reaching as high as 153.02% resulting in significant interest rate gap.

Note: This data, collected by WalletHub, includes all types of lenders, loan sizes and payoff periods.

Current Personal Loan Interest Rates by Lender

The higher your credit score is, the lower your personal loan APR is likely to be. People with excellent credit can secure rates as low as 3.99% with certain lenders, though they’re not always guaranteed a lender’s lowest rate. On the opposite end of the spectrum, people with bad credit are likely to receive a rate closer to a lender’s highest APR, which can be 36%+ in some cases. It’s important to note that personal loan providers typically disclose their APRs (annual percentage rates) rather than interest rates.

How to Get a Lower-Than-Average Personal Loan APR

1. Raise your credit score.

   Having a higher credit score gives you a better chance of getting a lender’s minimum APR. If you’re unsure what your credit score is, you can join WalletHub to check it for free as well as get personalized tips on how to improve.

2. Raise your income.

   Making more money reduces your risk as a borrower, and makes you more likely to get lower rates as a result. Of course, this is easier said than done, but some ways to raise your income include working extra hours, adding a second job or side business, and negotiating a raise.

3. Borrow less.

   Smaller personal loans with shorter payoff periods will typically have lower APRs than bigger loans with longer payoff periods. Keep in mind that this is not the case for payday lenders, which offer very small, short-term loans with extremely high APRs.

4. Consider different types of lenders.

   Credit unions are often a good option because their APRs tend to have lower caps than banks or online lenders. But online lenders tend to have the lowest minimum APRs, which is useful for people with excellent credit.

5. Apply with lenders whose requirements you exceed.

   If you just barely meet a lender’s approval requirements, you likely won’t get its lowest APR. But if you far exceed what the lender is looking for, you’ll be able to score a lower rate.

**SoFi Personal Loan Disclosure
Fixed rates from 8.74% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount.

SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 11/03/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.

Loan amounts range from $5,000–$100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.

Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.

Direct Pay: Terms and conditions apply. Offer good for personal loan customers with credit cards and personal loans in their name only and subject to lender approval. To receive the offer, you must: (1) register and/or apply through this landing page; (2) complete a loan application with SoFi within 90 days of your application submit date; (3) meet SoFi’s underwriting criteria; (4) apply 50% or more of your loan proceeds directly to your lenders/creditors. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. SoFi reserves the right to change or terminate the Direct Pay Rate Discount Program to unenrolled participants at any time with or without notice. It takes about 3 business days for your creditor/lender to receive payment after your loan is signed. You will be responsible for making all required payments to avoid credit card and other loan fees.

To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 11/03/25.SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.