Personal Loan Rates August 2026: Compare Current APRs
Rates from 6.99% APR · Loans up to $50,000 · Soft credit check to compare
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Quick Answer
As of August 2026, personal loan rates range from 6.99% to 35.99% APR. The average rate is 15.5% APR across all credit tiers. Excellent credit (740+) gets rates as low as 6.99%. Bad credit (580-639) sees rates of 18-35.99%. Check your rate with Money Pup Loans to see offers from multiple lenders with one soft credit pull.
Personal Loan Rates by Credit Score — August 2026
| Credit Score Tier | Average APR | APR Range | Max Loan | Approval Odds |
|---|---|---|---|---|
| Excellent (740-850) | 8.5% | 6.99%–10.99% | $100K | Very High |
| Good (670-739) | 12.5% | 9.99%–15.99% | $50K | High |
| Fair (640-669) | 18.0% | 12.99%–24.99% | $35K | Medium |
| Poor (580-639) | 28.0% | 18.00%–35.99% | $25K | Low-Medium |
| Very Poor (300-579) | 35.0% | 28.00%–35.99% | $10K | Low |
Top Personal Loan Lenders — August 2026 Rates
| Lender | Starting APR | Max APR | Loan Range | Min Credit |
|---|---|---|---|---|
| Money Pup Loans🏆 BEST MARKETPLACE | Varies | 35.99% | $1K-$50K | 580+ |
| LightStream⭐ LOWEST RATES | 6.99% | 25.49% | $5K-$100K | 680+ |
| SoFi💼 NO FEES | 8.99% | 29.99% | $5K-$100K | 680+ |
| Discover✅ FLEXIBLE | 7.99% | 24.99% | $2.5K-$40K | 660+ |
| Upstart🔓 LOW CREDIT OK | 7.80% | 35.99% | $1K-$50K | 580+ |
| Marcus🏦 ZERO FEES | 8.99% | 24.99% | $3.5K-$40K | 660+ |
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Personal Loan Rate Trends 2024-2026
| Period | Avg Rate (Excellent) | Avg Rate (Good) | Avg Rate (Fair) | Avg Rate (Poor) | Fed Rate |
|---|---|---|---|---|---|
| Jan 2024 | 10.5% | 14.5% | 20% | 30% | 5.25-5.50% |
| Jan 2025 | 9.5% | 13.5% | 19% | 29% | 4.25-4.50% |
| Jan 2026 | 8.8% | 12.8% | 18.2% | 28.5% | 3.50-3.75% |
| Aug 2026 | 8.5% | 12.5% | 18.0% | 28.0% | 3.25-3.50% |
Rates have been gradually declining as the Fed cut rates through 2025-2026. If you took out a personal loan in 2024, you may qualify for a lower rate now — consider refinancing.
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How to Get the Best Personal Loan Rate
Check your credit score first
Know your score before applying. Scores above 740 get the best rates. If your score is below 680, focus on improving it first — even 20 points can save you 2-3% APR.
Compare multiple lenders
Use a lender marketplace to see offers from multiple lenders with one soft pull. Rates can vary by 5-10% between lenders for the same borrower.
Choose a shorter term
A 3-year loan typically has a 1-2% lower APR than a 5-year loan. While the monthly payment is higher, you save significantly on total interest.
Lower your DTI before applying
Pay down existing debt to get your DTI below 36%. Lenders offer better rates to borrowers with lower debt-to-income ratios.
Consider a co-signer
A co-signer with excellent credit (740+) can help you qualify for rates 3-5% lower than you would get alone. Both parties share responsibility.
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Frequently Asked Questions
What are current personal loan rates in August 2026?
As of August 2026, personal loan rates range from 6.99% to 35.99% APR. Borrowers with excellent credit (740+) can access rates starting at 6.99-8.99%. Good credit (670-739) sees rates of 9-15%. Fair credit (640-669) gets 12-24%. Bad credit (580-639) sees rates of 18-35.99%.
→ Check your actual rate — loans up to $50K, soft credit check onlyWhat is the average personal loan interest rate in 2026?
The average personal loan rate in 2026 is approximately 15.5% APR across all credit tiers. For borrowers with excellent credit, the average is 8.5%. For good credit, 12.5%. For fair credit, 18%. For bad credit, 28%. Rates have stabilized after the Fed paused rate changes.
→ Check your actual rate — loans up to $50K, soft credit check onlyHow do I get the lowest personal loan rate?
To get the lowest personal loan rate: (1) maintain a credit score of 740+, (2) keep your debt-to-income ratio below 36%, (3) choose a shorter repayment term (2-3 years vs 5-7), (4) compare offers from multiple lenders using a marketplace, (5) consider a co-signer with excellent credit.
→ Check your actual rate — loans up to $50K, soft credit check onlyAre personal loan rates fixed or variable?
Most personal loans have fixed rates, meaning your APR and monthly payment stay the same for the entire loan term. This is an advantage over credit cards (variable rates) and HELOCs (variable rates). Some lenders offer variable-rate personal loans, but fixed-rate loans are more common and safer for budgeting.
→ Check your actual rate — loans up to $50K, soft credit check onlyDoes checking my personal loan rate affect my credit score?
No. Checking your rate through a lender marketplace uses a soft credit pull that does not affect your credit score. Only when you formally accept a loan offer does the lender perform a hard credit inquiry, which may cause a temporary 3-5 point drop in your score.
→ Check your actual rate — loans up to $50K, soft credit check onlyCan I lower my personal loan rate after getting approved?
Personal loan rates are locked at approval and cannot be lowered afterward. However, you can refinance your personal loan with a different lender if your credit score improves. Some borrowers refinance after 6-12 months of on-time payments to secure a lower rate.
Written by
David Rodriguez
Personal Finance & Loan Rate Analyst · 14 years experience
David tracks personal loan rate trends and helps borrowers find the best APRs through lender marketplaces.
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