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Key takeaways. The current average personal loan interest rate is 12.36%. Excellent credit results in the lowest rates — and poor credit may have rates over 30%.
The average interest rate on a three-year personal loan from a credit union is 10.58 percent, according to September 2023 data from the National Credit Union Administration (NCUA). However, the ...
How personal loan interest rates work. Lenders evaluate several factors to determine if you qualify for a low-interest personal loan, including your credit score, employment status and debt-to ...
Advertised interest rates range from 8% to 36%, though the average interest rate on a two-year personal loan was 11.92% as of May 2024, according to the Federal Reserve Bank of St. Louis.
Despite a lack of rate hikes in 2024, as of July 2024, the current average personal loan rate is at an all-time high of 12.38 percent. Due to the high-rate environment, now is likely not the best ...
Personal loans are great for short- to medium-term borrowing at rates that are typically lower than credit cards. They can be a good option if you have good credit and a specific financial goal in ...
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