Add news
March 2010April 2010May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021December 2021January 2022February 2022March 2022April 2022May 2022June 2022July 2022August 2022September 2022October 2022November 2022December 2022
123456
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
News Every Day |

This week's average personal loan rates: November 15, 2022 | Rates stay mostly flat

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Borrowers with poor credit scores have seen rates get better this week. However, if you have a good or fair score, you may get a worse rate.

While some personal loan rates went down over the past week, they've been trending higher overall. The Federal Reserve has increased the federal funds rate six times in 2022 to try to tame surging inflation. Those higher rates ripple through the economy, resulting in higher borrowing costs for everything from mortgages and credit cards to auto and personal loans.

You can get a personal loan for many reasons. Lately, most borrowers have been using them for debt consolidation. Other popular uses for the money include financing a home improvement project, paying a medical bill, and covering general household expenses.

Average personal loan rates

We've compiled a database of 28 personal loan products and averaged their rates so you know the current landscape. The higher your credit score, the more likely you'll qualify for a better rate. Rates are unchanged from last week. 

 This week's rates
Average overall rate19.69%
Average low rate9.81%
Average high rate30.00%
Highest rate99.99%
Lowest rate5.60%

The lowest rate of the companies we track is from Upstart Personal Loan, which has a minimum APR of 5.60%. The highest rate is from NetCredit Personal Loans, which has a maximum APR of 99.99%.

The actual rate you'll receive depends on your creditworthiness and other aspects of your financial situation. Check your rates with any lenders you are interested in to see what you're eligible for. 

Average personal loan rates by credit score

These rates are based on data from 150 borrowers who applied for loans and received rates.

Credit score

This week's average APR

Average APR from 2 weeks ago

Minimum APR

Maximum APR

Excellent (720+)

13.59%

13.63%

3.27%

29.79%

Good (660-719)

26.84%

25.65%

5.82%

161.64%

Fair (620-659)

47.40%

40.97%

18.46%

160.45%

Poor (<620)

70.26%

86.55%

22.96%

167.94%

Average loan amount and term length by credit score

These loan amounts and term lengths are based on data from 150 borrowers who applied for loans and received rates.

Credit score

Average requested loan amount

Average loan term length

Maximum loan term length

Excellent (720+)

$44,875.00

60.1 months

240 months

Good (660-719)

$17,870.37

48.9 months

240 months

Fair (620-659)

$7,047.73

35.9 months

60 months

Poor (<620)

$8,162.86

37.8 months

60 months

Percentage of borrowers by loan purpose

These loan purposes are based on data from 157 borrowers who applied for loans and received rates. One borrower used loan funds to pay for baby expenses this week. 

Loan purpose

Percentage of borrowers

Debt consolidation

44%

Other

11%

Moving

8%

Home improvement

5%

Auto

5%

Household expenses

5%

Medical

5%

Business

4%

Large purchases

3%

Credit card refinancing

3%

Vacation

2%

Special occasion

1%

Auto refinancing

1%

Student loan refinancing

1%

Baby

1%

Boat

1%

Frequently asked questions

Is your credit score a factor in determining your personal loan rate?

Yes, your credit score has a significant impact on your rate. Generally, the higher your credit score, the better rate you'll get.

Different lenders require different minimum credit scores for borrowers to qualify for a personal loan. Some lenders have no minimum at all, while others offer low rates only to borrowers with excellent credit histories. 

How can I use the money from a personal loan?

You can use a personal loan for almost any purpose you can think of, although it does depend on the lender. Some common uses include: 

Every reason available isn't listed here, and you should reach out to your individual lender to ask about what choices it offers. 

Who should get a personal loan?

Personal loans aren't right for every situation, nor every person. It can sometimes be hard to qualify, with strict credit score requirements. Personal loans also can carry high interest rates, which could mean there are better options out there. 

For larger purchases that won't fit within a credit limit, a personal loan might be the right option. It's worth calculating the interest you'll pay, and carefully considering options like a secured loan to bring down the interest rate.

Read the original article on Business Insider








Read also

Bradley Beal will be re-evaluated in one week

Musk’s brain chip company under federal investigation – media

Britain’s Growing Diversity Riles The Far Right – OpEd


News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Best Android app 2022 – Google reveals top pick for the year and it’s totally free

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

In the age of megachurches, communion has become a big business



Sports today


Новости тенниса
Александр Николаенко

Гендиректор ТГК-14 Николаенко оставил свой пост — источник



Спорт в России и мире
Москва

Саблисты из Подмосковья завоевали три медали на международных соревнованиях


Загрузка...

All sports news today




Загрузка...

Sports in Russia today

Москва

Определены победители молодежного чемпионата «Технолидеры Москвы»


Новости России

Game News

Bethesda QA workers are forming a union of their own


Russian.city


Москва

В Москве прошел социальный форум «Совместная работа региональных отделений Союза пенсионеров России и органов власти по сохранению здоровья пожилых людей».


Губернаторы России
Юлия Путинцева

Юлия Путинцева высказалась о победе над Анастасией Потаповой на турнире "Трофеи Северной Пальмиры"


Итоги проекта "Дизайн-Перспектива 2022"

В Санкт-Петербург отправились КАМАЗы от «КАМАЗ-ЛИЗИНГ»

Nigi Lina Barbatto презентовала свою новую песню «Малышка».

Город предложил москвичам открыть три точки общепита в саду «Эрмитаж»


Блат-группа «Воровайки» ответила на оскорбления Сергея Соседова

Красный диплом МГУ, арт-дилер и дочь чиновников: Тимати начал встречаться с приличной девушкой

Паулина Фирстова — новая девушка Тимати, которая в разы лучше всех его прошлых (доказываем по фото)

Певец SHAMAN выступил на фестивале «Песня года» в Москве


«Взрослый душнила»: Настя Ивлеева отправила домой Алексея Смирнова после стычки с соперником

Генеральный директор ТГК-14 Николаенко покинул свой пост — СМИ

Генеральный директор ТГК-14 Николаенко покинул свой пост - СМИ

Племянница тунеядца из «Шурика» Алексея Смирнова рассказала, как сложилась его личная жизнь



В Москве прошел социальный форум «Совместная работа региональных отделений Союза пенсионеров России и органов власти по сохранению здоровья пожилых людей».

Алиев готовится к новому Геноциду армян в Арцахе: предупреждение Института Лемкина

Разве не Азербайджан вместе с Турцией и Пакистаном провел учения против Армении? – иранское информационное агентство ИРНА

В Москве прошел социальный форум «Совместная работа региональных отделений Союза пенсионеров России и органов власти по сохранению здоровья пожилых людей»


Цена номеров в российских отелях выросла на 10 %, исключение – Екатеринбург: аналитика от МТС

Готовность № 1: в Челябинске прошла тренировка команд-участниц Кубка Вызова МХЛ

Константин Малофеев открыл в Пущино выставку с результатами раскопок Тешиловского городища

Иван Николаев опроверг слухи о потере памяти у 82-летней Светланы Светличной


Учащийся АлтГТУ представит Алтайский край в финале национальной премии «Студент года – 2022»

ТСД SAOTRON RT41G - портативный КПК промышленного класса.

Город предложил москвичам открыть три точки общепита в саду «Эрмитаж»

МЧС ликвидировало пожар в торговом ангаре на севере Москвы



Путин в России и мире







Персональные новости
Russian.city

Григорий Лепс

Продюсер Лавров оценил шансы Лепса «замять» скандальную драку в петербургском баре



News Every Day

Best Android app 2022 – Google reveals top pick for the year and it’s totally free




Friends of Today24


Загрузка...
Музыкальные новости

Персональные новости
Moscow.media