Best Personal Loan Rates of April 2025

Est. APR

8.99-29.99%

Loan amount

$5,000-$100,000

Min. credit score

None

Get rateon SoFi's website

View details Close details

Min. credit scoreNone

Key factsSoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.

Pros

Multiple rate discounts.
Fast funding.
Large loan amounts.
Joint loan option.
Mobile app to manage loan.

Cons

No option to choose initial payment date.
High minimum loan amount.

Qualifications

Must be at least 18 years old in most states.
Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.

Available Term Lengths2 to 7 years

Fees

Origination fee: 0% to 7%.
Late fee: None.

DisclaimerFixed rates from 8.99% APR to 29.99% 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 09/18/24 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.

Our pick for

Low personal loan rates and fast funding to existing customers

Get rateon Citibank's application

Citibank

4.5

Est. APR

11.49-20.49%

Loan amount

$2,000-$30,000

Min. credit score

740

Get rateon Citibank's application

View details Close details

Min. credit score740

Key factsCitibank personal loans come with no fees and multiple rate discounts, but you may find more flexible options elsewhere if you have strong credit.

Pros

Multiple rate discounts.
No fees.
Fast funding.
Soft credit check to pre-qualify.
Seven-day customer service availability.

Cons

No large loan amounts.
No co-sign or joint loan options.
No option to choose or change your payment date.

Qualifications

Borrowers must be at least 18 years old to apply (21 in Puerto Rico).
Co-applicants are not permitted.

Available Term Lengths1 to 5 years

Fees

No fees.

DisclaimerTerms, conditions, and fees for accounts, products, programs and services are subject to change at any time. You must be at least 18 years of age (21 years of age in Puerto Rico). Co-applicants are not permitted. Existing Citi deposit and credit card customers who have been a Citi customer for less than 12 months are not eligible for a Citi® Personal Loan. If you apply online, you must agree to receive the loan note and all other account disclosures provided with your loan origination in an electronic format and provide your signature electronically. Rates as of 12-01-2024. Your APR may be as low as 11.49% or as high as 20.49% for the term of your loan. The lowest rate quoted assumes excellent credit and a loan term of 24 or 36 months. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. Citi offers personal loans with a period of repayment between 12 and 60-month terms. For example, if you borrow $10,000 for 36 months at 15.99% APR, to repay your loan you will have to make 36 monthly payments of approximately $351.52. There is a 0.5% APR discount if you enroll in automatic payments at loan origination. Additionally, existing Citigold and Citi Priority customers will receive a 0.25% discount to the APR. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice. To check for offers you may qualify for, Citi conducts a soft credit inquiry. If you are presented with an offer and choose to proceed with the application process, Citi will conduct a hard credit inquiry which may have an impact on your credit score. Citi® Personal Loan proceeds cannot be used to pay for post-secondary education expenses or for business purposes. Credit cards issued by Citibank, N.A. or its affiliates, as well as Checking Plus and Ready Credit accounts, are not eligible for debt consolidation, and Citibank will not issue payoff checks for these accounts. If you are unsure of the issuer on the account, please visit https://www.citi.com/affiliatesproducts for a list of Citi products and affiliates. If you are approved for a personal loan with Citi, you can get your funds the same day with a Citi deposit account, or up to 2 business days for a non-Citi account when using direct deposit. Or, you can select to receive a check by mail in approximately 5 business days. Personal loans are made available by Citibank, N.A., Equal Housing lender

Our pick for

Low personal loan rates for debt consolidation

Get rateon Discover's website

Discover® Personal Loans

5.0

Est. APR

7.99-24.99%

Loan amount

$2,500-$40,000

Min. credit score

660

Get rateon Discover's website

View details Close details

Min. credit score660

Key factsWith competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.

Pros

No origination fee.
Fast funding.
Direct payment to creditors with debt consolidation loans.
Wide variety of repayment term options.
Available nationwide.

Cons

No rate discount.
Late fee.
No co-sign or joint loan option.

Qualifications

Minimum credit score: 660.
Minimum annual household income: $25,000. Income can come from employment, retirement, alimony, child support, Social Security payments and disability benefits.
Must provide a valid U.S. address and email address.
Must be 18 years old with a valid Social Security number.

Available Term Lengths3 to 7 years

Fees

Origination fee: None.
Late fee: $39.

DisclaimerThis is not a commitment to lend from Discover Personal Loans. Your APR will be between 7.99% and 24.99% based on creditworthiness at time of application for amounts between $2,500-$40,000 and loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 12.99% APR for a term of 72 months, you'll pay just $301 per month. You must have a minimum individual or household annual income of $25,000, be over 18 years of age, and have a valid US SSN to be considered for a Discover personal loan. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. State restrictions may apply. A Discover personal loan is intended for personal use and cannot be used to pay for post-secondary education, to pay off a secured loan, or to directly pay off a Discover credit card. If your application is approved, we will send funds after you accept the loan. Your bank or creditor may take more days to process the funds. Discover makes loans without regard to race, color, religion, national origin, sex, disability, or familial status.

Our pick for

Low personal loan rates for home improvement

Get rateon LightStream's website

LightStream

4.5

Est. APR

6.49-25.29%

Loan amount

$5,000-$100,000

Min. credit score

660

Get rateon LightStream's website

View details Close details

Min. credit score660

Key factsLightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.

Pros

No fees.
Rate discount for autopay.
Long repayment terms and large loan amounts.
Fast funding.
Rate Beat program and Experience Guarantee.

Cons

No option to pre-qualify.
No direct payment to creditors with debt consolidation loans.
High minimum loan amount.

Qualifications

Minimum credit score: 660, but can vary depending on the loan purpose and amount.
Maximum debt-to-income ratio: 50%.
Minimum credit history: 3 years.
Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.

Available Term Lengths2 to 7 years

Fees

Origination fee: None.
Late fee: None.

DisclaimerRates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $10,000 loan at 7.99% APR with a term of 5 years would result in 60 monthly payments of $202.72. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2024 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Our pick for

Low personal loan rates and a secured loan option

Get rateon Upstart's website

Upstart

5.0

Est. APR

6.70-35.99%

Loan amount

$1,000-$50,000

Min. credit score

None

Get rateon Upstart's website

View details Close details

Min. credit scoreNone

Key factsUpstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.

Pros

Accepts borrowers with bad credit or thin credit histories.
Has a low income requirement.
Fast approval and funding.
Allows secured loans.
Option to change your payment date.

Cons

Origination fee.
No rate discounts.
No joint or co-signed loans.
No direct payment to creditors on debt-consolidation loans.

Qualifications

Must be a U.S. citizen or permanent resident living in the U.S.
Must be at least 18 years old in most states.
Must have a valid email address and Social Security number.
Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
Must have a personal bank account at a U.S. financial institution with a routing number.
No bankruptcies in the last 12 months.
No current delinquent accounts on your credit reports.
Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
Minimum credit score: None.
Minimum annual income: $12,000.

Available Term Lengths3 to 5 years

Fees

Origination: 0% to 12%.
Late fee: 5% of the unpaid amount or $15, whichever is greater.
Insufficient funds fee: $15.

DisclaimerThe full range of available rates varies by state. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 18.60% and a 8.51% origination fee of $851, for an APR of 23.07%. In this example, the borrower will receive $9149 and will make 60 monthly payments of $258. APR is calculated based on 5-year rates offered in December 2024. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

Our pick for

Low personal loan rates for good credit

See my rateson NerdWallet's secure website

PNC Bank Personal Loan

4.0

Est. APR

8.19-24.99%

Loan amount

$1,000-$35,000

Min. credit score

None

See my rateson NerdWallet's secure website

View details Close details

Min. credit scoreNone

Key factsFor borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.

Pros

Rate discount for autopay.
Joint loan option.
Direct payment to creditors with debt consolidation loans.
Flexible terms.

Cons

May require in-person visit.
No large loan amounts.
Available in a limited number of states.
No soft credit check to pre-qualify.

Qualifications

Minimum credit score: None.
Provide date of birth and Social Security number.
Provide photo ID.
Proof of income. PNC accepts income from employment, alimony, retirement, child support, Social Security payments, investments, rental income and inheritance

Available Term Lengths6 months to 5 years

Fees

Origination fee: None.
Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.

Our pick for

Low personal loan rates and fast funding

Get rateon Rocket Loans' website

Rocket Loans

4.5

Est. APR

8.71-29.99%

Loan amount

$2,000-$45,000

Min. credit score

640

Get rateon Rocket Loans' website

View details Close details

Min. credit score640

Key factsRocket Loans offers fast funding for online personal loans to borrowers with fair and good credit, but it lacks some key features.

Pros

Option to pre-qualify with a soft credit check.
Multiple rate discounts.
Fast funding.
Option to change your payment date.
Wide range of loan amounts.

Cons

Origination fee.
Only two repayment term options.
No secured, co-signed or joint loan options.
No direct payment to creditors with debt consolidation loans.

Qualifications

Minimum credit score: 640.
Minimum annual gross income: $24,000.
Maximum debt-to-income ratio: 40% or 70% including a mortgage.
Minimum credit history: 2 years.
Must be at least 18 years old.
Must be a U.S. resident living in one of the states where the lender does business.

Available Term Lengths3 to 5 years

Fees

Origination fee: Up to 9%.
Late fee: $15.
Non-sufficient funds fee: $15.

DisclaimerAll personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state-required disclosures, licenses, and lending restrictions. Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age. All loan applications are subject to credit review and approval. Offered loan terms depend upon your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Please refer to www.RocketLoans.com and our Terms of Use for additional terms and conditions.

Our pick for

Low personal loan rates for credit card consolidation

See my rateson NerdWallet's secure website

Happy Money

4.0

Est. APR

8.95-17.48%

Loan amount

$5,000-$40,000

Min. credit score

640

See my rateson NerdWallet's secure website

View details Close details

Min. credit score640

Key factsHappy Money offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.

Pros

Option to pre-qualify with a soft credit check.
Offers direct payment to creditors.
No late fee.
Hardship program for borrowers in need.

Cons

Origination fee.
No rate discount.
No co-sign or joint loan option.
No option to choose initial payment date.

Qualifications

Must have a valid Social Security number or individual taxpayer identification number.
Minimum credit score: 640.
Minimum credit history: 3 years and 2 accounts.
Maximum debt-to-income ratio: 55%, including mortgage.
Not a resident of Iowa, Massachusetts and Nevada.

Available Term Lengths2 to 5 years

Fees

Origination fee: Up to 7%.

DisclaimerThis offer does not constitute a commitment to lend or an offer to extend credit. Upon submitting a loan application, you may be asked to provide additional documents to verify your identity, income, assets, or financial condition. The rate and terms you may be approved for will be shown to you during the application process. Loans subject to an origination fee, which is deducted from the loan proceeds. Refer to full borrower agreement for all terms, conditions and requirements. Only loans applied for and issued on or after January 10, 2024, are covered under the TruStage™ Payment Guard Insurance Policy. Please refer to the certificate of insurance, provided to you with your loan origination documents, for terms and conditions of the coverage. Some exclusions apply. Claims must be submitted for review and approval to CUMIS Specialty Insurance Company, Inc. TruStage™ Payment Guard Insurance is underwritten by CUMIS Specialty Insurance Company, Inc and not by Happy Money. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market. Product and features may vary and not be available in all states. Certain eligibility requirements, conditions, and exclusions may apply. Please refer to the Group Policy for a full explanation of the terms. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by any financial institution. Corporate Headquarters 5910 Mineral Point Road, Madison, WI 53705.

Our pick for

Low personal loan rates and rate discounts to existing customers

See my rateson NerdWallet's secure website

Wells Fargo Personal Loan

4.0

Est. APR

7.49-23.74%

Loan amount

$3,000-$100,000

Min. credit score

None

See my rateson NerdWallet's secure website

View details Close details

Min. credit scoreNone

Key factsWells Fargo personal loans are likely a good fit for existing customers, thanks to a wide range of loan amounts and repayment terms, plus perks like pre-qualification and a rate discount.

Pros

Option to pre-qualify with a soft credit check.
Wide variety of repayment term options.
Rate discount for autopay.
Options to choose and change your payment date.
Fast funding.

Cons

Must be an existing customer.
No co-sign or joint loan option.
No direct payment to creditors with debt consolidation loans.

Qualifications

Must be an existing Wells Fargo customer.
Must provide personal information, including Social Security number or individual tax identification number.
Must provide employment and income information; documentation may be required to verify this information.

Available Term Lengths1 to 7 years

Fees

Late fee: $39.

Compare the best personal loan rates

NerdWallet reviewed more than 35 financial institutions to find the best rates on personal loans. These are our top picks.

Best for low personal loan rates with borrower perks

5.0

Est. APR8.99-29.99%

Loan amount$5K-$100K

Min. credit scoreNone

Repayment terms2 to 7 years

Visit Lenderon SoFi's website

Check Rateon NerdWallet

Pros

Multiple rate discounts.
Fast funding.
Large loan amounts.
Joint loan option.
Mobile app to manage loan.

Cons

No option to choose initial payment date.
High minimum loan amount.

SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.

Wide loan amount range makes SoFi loans ideal for large purchases, home improvement projects or debt consolidation.
Provides loan forbearance and payment modification for customers in hardship.

Best for low personal loan rates and fast funding to existing customers

4.5

Est. APR11.49-20.49%

Loan amount$2K-$30K

Min. credit score740

Repayment terms1 to 5 years

Visit Lenderon Citibank's application

Check Rateon NerdWallet

Pros

Multiple rate discounts.
No fees.
Fast funding.
Soft credit check to pre-qualify.
Seven-day customer service availability.

Cons

No large loan amounts.
No co-sign or joint loan options.
No option to choose or change your payment date.

Citibank personal loans come with no fees and multiple rate discounts, but you may find more flexible options elsewhere if you have strong credit.

Loans have no fees, including late, origination or prepayment fees.
Offers a .50-percentage-point rate discount for setting up autopay — larger than most lenders.

Best for low personal loan rates for debt consolidation

5.0

Est. APR7.99-24.99%

Loan amount$2.5K-$40K

Min. credit score660

Repayment terms3 to 7 years

Visit Lenderon Discover's website

Check Rateon NerdWallet

Pros

No origination fee.
Fast funding.
Direct payment to creditors with debt consolidation loans.
Wide variety of repayment term options.
Available nationwide.

Cons

No rate discount.
Late fee.
No co-sign or joint loan option.

With competitive rates and no origination fees, Discover personal loans are good options for borrowers with good and excellent credit.

Has dedicated loan specialists to help with the application process.
Can pay off other creditors on debt consolidation loans within one business day.

Best for low personal loan rates for home improvement

4.5

Est. APR6.49-25.29%

Loan amount$5K-$100K

Min. credit score660

Repayment terms2 to 7 years

Visit Lenderon LightStream's website

Check Rateon NerdWallet

Pros

No fees.
Rate discount for autopay.
Long repayment terms and large loan amounts.
Fast funding.
Rate Beat program and Experience Guarantee.

Cons

No option to pre-qualify.
No direct payment to creditors with debt consolidation loans.
High minimum loan amount.

LightStream is a solid option for good-credit borrowers, with no fees and a promise to beat competitors’ rates.

Provides loan terms up to 12 years for home improvement projects.
Offers a .50-percentage-point rate discount for setting up autopay and charges zero fees.

Best for low personal loan rates and a secured loan option

5.0

Est. APR6.70-35.99%

Loan amount$1K-$50K

Min. credit scoreNone

Repayment terms3 to 5 years

Visit Lenderon Upstart's website

Check Rateon NerdWallet

Pros

Accepts borrowers with bad credit or thin credit histories.
Has a low income requirement.
Fast approval and funding.
Allows secured loans.
Option to change your payment date.

Cons

Origination fee.
No rate discounts.
No joint or co-signed loans.
No direct payment to creditors on debt-consolidation loans.

Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.

May approve borrowers with fair credit or thin credit history.
Allows borrowers to get a vehicle-secured loan for the chance at a lower rate.

Best for low personal loan rates for good credit

4.0

Est. APR8.19-24.99%

Loan amount$1K-$35K

Min. credit scoreNone

Repayment terms6 months to 5 years

Check Rateon NerdWallet

Pros

Rate discount for autopay.
Joint loan option.
Direct payment to creditors with debt consolidation loans.
Flexible terms.

Cons

May require in-person visit.
No large loan amounts.
Available in a limited number of states.
No soft credit check to pre-qualify.

For borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.

Wide range of repayment terms gives borrowers the choice between a fast payoff schedule and low monthly payments.
Joint loan option allows borrowers to add a co-applicant for a chance at a lower APR.

Best for low personal loan rates and fast funding

4.5

Est. APR8.71-29.99%

Loan amount$2K-$45K

Min. credit score640

Repayment terms3 to 5 years

Visit Lenderon Rocket Loans' website

Check Rateon NerdWallet

Pros

Option to pre-qualify with a soft credit check.
Multiple rate discounts.
Fast funding.
Option to change your payment date.
Wide range of loan amounts.

Cons

Origination fee.
Only two repayment term options.
No secured, co-signed or joint loan options.
No direct payment to creditors with debt consolidation loans.

Rocket Loans offers fast funding for online personal loans to borrowers with fair and good credit, but it lacks some key features.

Can approve and fund personal loans the same day an application is submitted.
Wide loan amount range makes Rocket Loans ideal for large purchases or debt consolidation.

Best for low personal loan rates for credit card consolidation

4.0

Est. APR8.95-17.48%

Loan amount$5K-$40K

Min. credit score640

Repayment terms2 to 5 years

Visit Lenderon Happy Money's website

Check Rateon NerdWallet

Pros

Option to pre-qualify with a soft credit check.
Offers direct payment to creditors.
No late fee.
Hardship program for borrowers in need.

Cons

Origination fee.
No rate discount.
No co-sign or joint loan option.
No option to choose initial payment date.

Happy Money offers loans and ongoing support to help fair- and good-credit borrowers consolidate credit card debt.

Loan funds can be sent directly to other creditors to pay off credit card debt.
Instantly approves qualified borrowers and sends loan funds within one to three days.

Best for low personal loan rates and flexible payment options

Est. APR8.99-17.99%

Loan amount$2K-$50K

Min. credit scoreNone

Repayment terms1 to 5 years

Check Rateon NerdWallet

Pros

Option to pre-qualify with a soft credit check.
Fast funding.
No origination fee.
Joint loan option.
Hardship program for borrowers in need.

Cons

Exclusive to credit union members.
Does not clearly display loan amounts and terms on website.
Late fee.

PenFed offers personal loans up to $50,000 to use for almost any purpose.

One of few lenders that allows co-signed personal loans, which can help the primary borrower qualify for a better rate.
Borrowers may change their payment due date multiple times during repayment.

Best for low personal loan rates and rate discounts to existing customers

4.0

Est. APR7.49-23.74%

Loan amount$3K-$100K

Min. credit scoreNone

Repayment terms1 to 7 years

Check Rateon NerdWallet

Pros

Option to pre-qualify with a soft credit check.
Wide variety of repayment term options.
Rate discount for autopay.
Options to choose and change your payment date.
Fast funding.

Cons

Must be an existing customer.
No co-sign or joint loan option.
No direct payment to creditors with debt consolidation loans.

Wells Fargo personal loans are likely a good fit for existing customers, thanks to a wide range of loan amounts and repayment terms, plus perks like pre-qualification and a rate discount.

Offers an autopay discount to all borrowers and an additional relationship discount to qualified Wells Fargo customers.
Lets borrowers choose their initial payment due date and change it once every 12 months.

NerdWallet’s guide to getting the best personal loan rate

What is a good rate on a personal loan?

A personal loan’s annual percentage rate (APR) represents the cost of the loan and includes the interest rate plus any other fees a lender charges, like an origination fee. Your personal loan interest rate and APR may be the same number if there are no loan fees.

Because these loans usually don’t require collateral, such as a house or car, your personal loan rate depends heavily on your credit and financial information.

A good personal loan rate is the lowest one you qualify for. APRs are typically between 6% and 36%, which is a wide range compared to other types of loans like mortgages and auto loans. Because rates can vary widely, it’s not helpful to compare your rate to someone else’s. Instead, pre-qualify for personal loans with multiple lenders to find the lowest rate and best terms. This process doesn’t require a hard credit pull, so it’s a low-risk way to determine which lender could offer you the best rate.

🤓

Nerdy Tip

Consumer advocates caution against borrowing high-interest loans with APRs above 36% because they tend to be unaffordable.

Lender	APR range
Upstart	6.70% - 35.99%
Upgrade	7.99% - 35.99%
Avant	9.95% - 35.99%
LendingPoint	7.99% - 35.99%
Universal Credit	11.69% - 35.99%

» MORE: Best loans for bad credit

Lender	APR range
PNC	8.19% - 24.99%
PenFed	8.99% - 17.99%
Citibank	11.49% - 20.49%
LightStream	6.49% - 25.29%
SoFi	8.99% - 29.99%
Discover	7.99% - 24.99%
Happy Money	8.95% - 17.48%

» MORE: Best loans for good credit

Lender	APR range
Discover	7.99% - 24.99%
Happy Money	8.95% - 17.48%
LightStream	6.49% - 25.29%
SoFi	8.99% - 29.99%
PNC	8.19% - 24.99%

» MORE: Best loans for debt consolidation

Lender	APR range
SoFi	8.99% - 29.99%
Discover	7.99% - 24.99%
LightStream	6.49% - 25.29%
Wells Fargo	7.49% - 23.74%
Rocket Loans	8.71% - 29.99%

» MORE: Best loans for home improvement

How is the economy affecting personal loan rates?

Macroeconomic conditions help personal loan lenders determine their rates. For example, changes in the wider economy (like high inflation and Federal Funds rate increases) prompted lenders to tighten their underwriting standards in 2022 and 2023, and they’ve remained high since then.

The Fed rate hasn’t changed since July 2023, but the committee that sets the rate has indicated that it may lower it later this year.

If you have a personal loan, a lower Fed rate won’t affect your monthly payments because personal loan rates are fixed for the full repayment term.

If you’re considering a personal loan, a lower Fed rate could mean a chance at a modestly better rate later in the year.

Regardless of economic changes, the biggest factors that determine your personal loan interest rate are your creditworthiness, income and outstanding debts.

» MORE: This month’s average personal loan rates

Personal loan rates by credit score

Here are the average estimated APRs for online personal loans, based on credit score ranges:

Borrower credit rating	Score range	Estimated APR
Excellent	Any score in the high 700s or higher.	12.74%.
Good	Any score from the mid-600s to mid-700s.	16.61%.
Fair	Any score in the mid-500s to low 600s.	19.92%.
Bad	Scores from 300 to the high 500s.	21.64%.

Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet from Feb. 1, 2025, through Feb. 28, 2025. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below 500 — are unlikely to qualify. Information in this table applies only to lenders with maximum APRs below 36%.

Personal loan calculator

Use this personal loan calculator to see how different rates — plus other factors, like loan amount and terms — can impact monthly personal loan payments.

Your loan estimateMonthly payment$212.47

Total principal
$10,000.00
Total interest payments
$2,748.23
Total loan payments
$12,748.23
Payoff date
04 / 2030

Payment date	Principal	Interest	Monthly payment	Principal balance
Apr 2025	$129.14	$83.33	$212.47	$9,870.86
May 2025	$130.21	$82.26	$212.47	$9,740.65
Jun 2025	$131.30	$81.17	$212.47	$9,609.35
Jul 2025	$132.39	$80.08	$212.47	$9,476.96
Aug 2025	$133.50	$78.97	$212.47	$9,343.46
Sep 2025	$134.61	$77.86	$212.47	$9,208.85
Oct 2025	$135.73	$76.74	$212.47	$9,073.12
Nov 2025	$136.86	$75.61	$212.47	$8,936.26
Dec 2025	$138.00	$74.47	$212.47	$8,798.26
Jan 2026	$139.15	$73.32	$212.47	$8,659.11
Feb 2026	$140.31	$72.16	$212.47	$8,518.80
Mar 2026	$141.48	$70.99	$212.47	$8,377.32
Apr 2026	$142.66	$69.81	$212.47	$8,234.66
May 2026	$143.85	$68.62	$212.47	$8,090.81
Jun 2026	$145.05	$67.42	$212.47	$7,945.76
Jul 2026	$146.26	$66.21	$212.47	$7,799.51
Aug 2026	$147.47	$65.00	$212.47	$7,652.03
Sep 2026	$148.70	$63.77	$212.47	$7,503.33
Oct 2026	$149.94	$62.53	$212.47	$7,353.39
Nov 2026	$151.19	$61.28	$212.47	$7,202.20
Dec 2026	$152.45	$60.02	$212.47	$7,049.74
Jan 2027	$153.72	$58.75	$212.47	$6,896.02
Feb 2027	$155.00	$57.47	$212.47	$6,741.02
Mar 2027	$156.30	$56.18	$212.47	$6,584.72
Apr 2027	$157.60	$54.87	$212.47	$6,427.12
May 2027	$158.91	$53.56	$212.47	$6,268.21
Jun 2027	$160.24	$52.24	$212.47	$6,107.98
Jul 2027	$161.57	$50.90	$212.47	$5,946.41
Aug 2027	$162.92	$49.55	$212.47	$5,783.49
Sep 2027	$164.27	$48.20	$212.47	$5,619.22
Oct 2027	$165.64	$46.83	$212.47	$5,453.57
Nov 2027	$167.02	$45.45	$212.47	$5,286.55
Dec 2027	$168.42	$44.05	$212.47	$5,118.13
Jan 2028	$169.82	$42.65	$212.47	$4,948.31
Feb 2028	$171.23	$41.24	$212.47	$4,777.08
Mar 2028	$172.66	$39.81	$212.47	$4,604.42
Apr 2028	$174.10	$38.37	$212.47	$4,430.32
May 2028	$175.55	$36.92	$212.47	$4,254.76
Jun 2028	$177.01	$35.46	$212.47	$4,077.75
Jul 2028	$178.49	$33.98	$212.47	$3,899.26
Aug 2028	$179.98	$32.49	$212.47	$3,719.28
Sep 2028	$181.48	$30.99	$212.47	$3,537.81
Oct 2028	$182.99	$29.48	$212.47	$3,354.82
Nov 2028	$184.51	$27.96	$212.47	$3,170.31
Dec 2028	$186.05	$26.42	$212.47	$2,984.25
Jan 2029	$187.60	$24.87	$212.47	$2,796.65
Feb 2029	$189.17	$23.31	$212.47	$2,607.49
Mar 2029	$190.74	$21.73	$212.47	$2,416.75
Apr 2029	$192.33	$20.14	$212.47	$2,224.42
May 2029	$193.93	$18.54	$212.47	$2,030.48
Jun 2029	$195.55	$16.92	$212.47	$1,834.93
Jul 2029	$197.18	$15.29	$212.47	$1,637.75
Aug 2029	$198.82	$13.65	$212.47	$1,438.93
Sep 2029	$200.48	$11.99	$212.47	$1,238.45
Oct 2029	$202.15	$10.32	$212.47	$1,036.30
Nov 2029	$203.83	$8.64	$212.47	$832.47
Dec 2029	$205.53	$6.94	$212.47	$626.93
Jan 2030	$207.25	$5.22	$212.47	$419.69
Feb 2030	$208.97	$3.50	$212.47	$210.71
Mar 2030	$210.71	$1.76	$212.47	$0.00

Personal loan rates by lender type

Personal loan rates from online lenders

Online personal loan rates vary by the type of borrower they target. Bad-credit online lenders may approve borrowers with lower credit scores, but they offer higher APRs to make up for the additional risk those borrowers may carry. Good- and excellent-credit online lenders offer lower rates because they only approve borrowers who they believe have a low risk of defaulting.

» MORE: What credit score do you need for a personal loan?

Personal loan rates at banks

Banks may offer competitive rates — and rate discounts if you’re already a customer — but they typically have tougher eligibility requirements than online lenders. The average rate for a two-year bank loan was 12.49% in the first quarter of 2024, according to the Federal Reserve.

» MORE: Best bank loans

Personal loan rates at credit unions

Credit union loans may carry lower rates than banks and online lenders, especially for those with fair or bad credit, and loan officers may be more willing to consider your overall financial picture.

The average rate charged by credit unions in the first quarter of 2024 for a fixed-rate, three-year loan was 10.83%, according to the National Credit Union Administration. Federal credit unions cap personal loan APRs at 18%.

You must become a member of a credit union to get a personal loan, which may mean paying a fee or meeting certain eligibility requirements.

» MORE: Credit union personal loans

How to get the best personal loan rate

Check your credit report for errors or accounts that may be weighing on your score and address them before applying. For example, a past-due account could be a reason a lender charges a high rate or denies your application.

Pay down existing debt to lower your DTI and show lenders that you have ample income for new loan payments. Make sure to include all sources of income on an application.

Requesting a large loan could cause a lender to charge a higher interest rate. Consider what the money is for and don’t ask for more than you need.

Lenders often give lower APRs for shorter term loans because a shorter term means there’s less time for your financial situation to change during repayment. Choose the shortest loan term you can while still keeping monthly payments affordable.

Lenders offer discounts for a few different reasons. Many online lenders offer rate discounts for setting up automatic payments. Some banks offer rate discounts to existing customers who hold certain bank accounts.

Origination fees are the most common personal loan fees, and they can drive up your APR, but not all lenders charge them. Compare lenders’ fees and look for one that charges low or no fees.

Borrowers with blemished credit can add a co-signer or co-borrower with better credit and higher income for a better chance of qualifying or a potentially lower rate. Both co-signers and co-borrowers are responsible for repaying the debt if the primary borrower misses payments.

You may qualify for a personal loan or get a lower rate by pledging collateral like a vehicle or savings account. With a secured loan, the lender can take the collateral if you default.

Many lenders offer pre-qualification, which lets you preview the potential loan amount, rate and repayment term without affecting your credit score. Pre-qualify with multiple lenders to compare offers and select the best rate.

Frequently asked questions about personal loan rates

What’s the difference between a personal loan APR and interest rate?

APR and interest rate are so similar they’re often used interchangeably, but on personal loans there’s an important distinction. A personal loan APR includes the interest rate plus any origination fee. According to the Truth in Lending Act, all lenders must disclose a loan’s APR before you sign an agreement.

Can you refinance a personal loan to get a lower rate?

If you currently have a personal loan with a high rate, you may be able to lock in a lower rate by refinancing a personal loan, especially if you’ve improved your credit or lowered your debt since you first borrowed. Lenders have different refinancing policies: Some allow borrowers to refinance a personal loan you have with them, but others may require you to refinance with a different lender.

If you refinance, be mindful of the new loan’s term. Even with a lower rate, a longer repayment term could raise the total interest costs.

What are some alternatives to personal loans?

Other ways to borrow money include: