Current personal loan rates
Average rates on unsecured personal loans at U.S. commercial banks.
1 series on this page · updated monthly · most recent observation August 1, 2026
Rate table
Changes shown in basis points; one basis point is one hundredth of a percentage point.
| Loan program | Rate | Prior | 1 month | 1 year | 52-week range | As of | Source |
|---|---|---|---|---|---|---|---|
| 24-Month Personal LoanUnsecured personal loans at commercial banks. | 11.90% | ▲ +4 bps | ▲ +4 bps | ▲ +76 bps | 11.1411.90 | Aug 1, 2026 | Federal Reserve G.19 TERMCBPER24NS |
Series detail
Two years of history for each series on this page.
24-Month Personal Loan
Updated monthly. Unsecured personal loans at commercial banks. History available from February 1972 (219 observations). 52-week range 11.14%–11.90%, set Aug 1, 2025 and Aug 1, 2026. Source: Federal Reserve G.19 via FRED series TERMCBPER24NS.
Background
Why unsecured costs more
A personal loan has no collateral. If the borrower stops paying, the lender has no vehicle to repossess and no property to foreclose on — only a claim. That risk is priced into the rate, which is why the average unsecured loan sits several points above an auto loan and far above a mortgage, and why the spread between the best and worst credit tiers is wider here than in any secured product.
The average hides an enormous range
Personal loan pricing is more dispersed than any other consumer product on this site. Borrowers with excellent credit are routinely approved in the single digits, while the same lender's offers to thin-file or subprime applicants can reach the mid-30s — and online lenders quote across an even wider band than banks. Treat the figure above as the midpoint of a very broad distribution, not as a rate to expect.
Origination fees change the real cost
Many personal lenders deduct an origination fee of one to eight percent from the disbursed amount. A borrower who signs for $20,000 at a stated rate may receive $18,600 while still owing and repaying the full $20,000. The annual percentage rate is the only figure that captures this, and it is the only number worth comparing across offers.