Best Debt Consolidation Loan Rates — August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
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Top debt consolidation loan rates currently available include: Benton County Schools Credit UnionBenton County Schools Credit Union2101 NW Professional DR, Corvallis, OR, 97330A+5.0 ★Texas Ratio: 0.08%'s Consolidation loan has an APR of 4.50%, Post Office Employees Credit UnionPost Office Employees Credit Union4624 W Napoleon Ave, Metairie, LA, 70001 2492A+5.0 ★Texas Ratio: 0.97%'s Consolidation Loan has an APR of 4.75%, HAWAIIAN ELECTRIC EMPLOYEESHAWAIIAN ELECTRIC EMPLOYEES770 KAPIOLANI BLVD STE 514, HONOLULU, HI, 96813A+5.0 ★Texas Ratio: 1.30%'s Bill Consolidation Loan has an APR of 4.75%, Freedom Of Maryland Federal Credit UnionFreedom Of Maryland Federal Credit Union1304 E Churchville Rd, Bel Air, MD, 21014A5.0 ★Texas Ratio: 8.78%'s Debt Consolidation Loan has an APR of 4.99%, and CASTPARTS EMPLOYEESCASTPARTS EMPLOYEES8120 SE Luther Rd, Portland, OR, 97206 9238A+5.0 ★Texas Ratio: 3.38%'s Debt Consolidation Loan has an APR of 5.00%. Rates as of August 28, 2026 per MonitorBankRates.
A debt consolidation loan combines multiple high-interest debts — credit cards, medical bills, store cards — into a single lower-APR installment loan. Done right, consolidation reduces your monthly payment and total interest paid, and simplifies your finances to a single due date.
A consolidation loan is a personal loan pointed at existing debt. For the wider product — including secured options and other uses — see personal loan rates, or signature loans for the unsecured credit-union version.
We display transparent financial health metrics — A–F Safety Grades, Star Ratings, and Texas Ratios — so you can borrow from a stable, highly-rated institution.
Rates reflect actual verified offers. Last Updated: August 28, 2026
Compare Debt Consolidation Loan Rates
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Rate quoted based on 36 month term, $500 up to $30,000 for an Anything Loan or borrow $1,000 up to $30,000 for a Debt Consolidation Loan.
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Used Vehicle Loan; no cash out
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Rates are tiered, rate shown as low as. APR is subject to change without notice.
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The average credit card interest rate hovers around 28.00%!; Credit Union rates range from ONLY 7.25% to 13.25%; A Debt Consolidation Loan may be as much as $15,000!
As Low As; Loan rate, term, and monthly payment are determined by credit worthiness, collateral, and loan to value.
Fixed Rate.
Rate available to member in good standing, based on credit qualifications, approved starting January 1, 2025 for loans from $300 and to $25,000. Rate reflects .25% discount for automatic payments from your MHV savings or checking account. As an example, a 47-month term with a fixed rate of 7.49% APR would result in an estimated payment of $24.57 for each $1,000 financed. Subject to change or terminate at the discretion of MHV. Internal MHV Personal Loan refinances are not applicable with this promotional rate.
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Interest rates starting at 7.375% (7.54% APR*). Payback terms up to 7 years for lower monthly payments. Loans up to $25,000.00 are available. Ability to consolidate existing credit balances (credit cards, loans, medical expenses, taxes, auto repair bills, etc.). Loan funds disbursed directly to creditors. Fixed monthly payments and no penalty for early payoff. One-time $100 loan origination fee.
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Up to $20,000. Terms based on loan amount. Exclusions and conditions apply.
As Low As; Stated rate is based on certain creditworthiness criteria. Minimum loan amount $500. Maximum loan amount $30,000.
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Rates as low as 8.00% APR*. Credit score of 630 and above required
Borrow up to $10,000.00, Delay first payment for 60 days;*
On debt consolidation loans, bills that are to be paid with the proceeds must be presented to the Credit Union for payment.
Maximum loan amount of $10,000. Credit score of 630 and above required.
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As Low As; Competitive fixed rates for A+ credit (A: 8.40%, B: 10.40%, C: 13.40%); No application or origination fees; New loans only (not valid for refinancing existing RCCU debt)
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As Low As; Stated rate is based on certain creditworthiness criteria. Minimum loan amount $500. Maximum loan amount $30,000.
Loan process fee $65 and budgeting session required
Max $20,000; Rates are determined by your personal credit history and payment method, so your rate may differ.; APR = Annual Percentage Rate.; Rates subject to change at any time. Other restrictions & details may apply.
As Low As; Limited time offer; $500 - $20,000
Bill Payer/Debt Consolidation ($35,000 Maximum)
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Up to $10,000; CU will pay vendors directly; current SMEFCU Loans are not eligible
Rate includes Direct Deposit discount
As Low As; Payroll deduction or automatic draft
Checks to creditors, no internal refinances, no cash out.
As Low As; Rate may vary based on individual creditworthiness. Additional restrictions may apply.
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Annual percentage rates, all loans subject to approval, rates may vary from those listed based on term and credit qualifications. Other rates and terms available. Special promotional rates may apply. Rates are current as of June 24, 2026. Please call the office for details.
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Bill Payer/Debt Consolidation ($35,000 Maximum)
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Loan rates as low as those listed here are available, subject to credit approval. All rates are subject to change without notice.
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$26,000; As low as
Rate stated is "as low as" and not all borrowers may qualify. Rate and APR advertised assumes a FICO Credit Score of 680 or better and an example My $ Loan amount financed of $5,000. The payment examples shown above do not include optional insurance premium amounts, which will increase your monthly payment obligation. Your payment may vary based on the term, credit score and amount financed.
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$2,500
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Rates subject to change without notice.
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total not to exceed $40,000
$500 Minimum Loan Amount
Rate includes Direct Deposit discount
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As Low As; Rate includes discounts2, see details below
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As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
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maximum $35,000
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As low as: 126 on $3,000 Loan*
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Available up to $30,000 for qualified members.
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The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval.
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Quoted Rates are lowest available rates, your quoted rate may be higher. Rates are determined by credit criteria including credit score, term, amount financed, loan to value of collateral, mileage and other factors. Rate cannot go below credit union floor rate of 4.50% APR. Discounts do not apply to Lines of Credit, VISA Credit Cards, Shared Secured, CD Secured, HELOCs and First Mortgages.
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As Low As; Existing Mission City FCU loans not eligible
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Up to $10,000; CU will pay vendors directly; current SMEFCU Loans are not eligible
Rate includes Direct Deposit discount
Maximum term for lowest rate is 60 months.
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As Low As; Stated rate is based on certain creditworthiness criteria. Minimum loan amount $500. Maximum loan amount $30,000.
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All rates (APR) are as low as
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As Low As; Per Thousand Borrowed $16.73
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Automatic payments are required for lowest rate.
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Rates subject to change without notice.
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Pay Off Those High Interest Credit Cards!
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Rate includes Direct Deposit discount
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Debt Consolidation Loan ($500 - $50,000)
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Loan amounts up to $10,000
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As Low As; Stated rate is based on certain creditworthiness criteria. Minimum loan amount $500. Maximum loan amount $30,000.
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total not to exceed $40,000
As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
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Automatic payments are required for lowest rate.
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Without Direct Deposit
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As Low As; Stated rate is based on certain creditworthiness criteria. Minimum loan amount $500. Maximum loan amount $30,000.
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Loan amounts $10,001 - $15,000
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As Low As; Special Loan Rate Discount: 0.25% APR reduction when you set up automatic payments (AutoPay) from a People Driven Credit Union checking or savings account. This discount is already included in the "as low as" rate advertised.
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Rates subject to change without notice.
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As Low As; $4,000 and higher
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As Low As; Loans are based on credit approval. Rates are subject to change without notice. Call the credit union for current rate. Rates are based on the applicant's credit score. There are no transaction, membership, activity, or participation fees.
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$30,000
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total not to exceed $40,000
As low as*; *See important disclosures for details.
Member Perks pricing is applicable on this loan type, resulting in 0.25% discount on the rates listed above. Click here to learn more and see if you qualify!
$30,000
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Annual Percentage Rate - As Low As*. Rates as of March 2, 2026. Rates Subject to Change Without Notice.
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APR* as low as
As Low As; Loyalty Discount
Call for details
Loan amounts up to $25,000. No annual or prepayment penalties.
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Member Perks pricing is applicable on this loan type, resulting in 0.25% discount on the rates listed above. Click here to learn more and see if you qualify!
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Maximum APR: 18.00%
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Maximum $5,000 - Call Credit Union For Eligibility; Fixed
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Months
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total not to exceed $40,000
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As Low As; *Effective 3/1/2023 Rates subject to change without notice.
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$7,500; As Low As; Daily Periodic Rate: 0.03559%
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Maximum APR: 18.00%
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The average credit card interest rate hovers around 28.00%!; Credit Union rates range from ONLY 7.25% to 13.25%; A Debt Consolidation Loan may be as much as $15,000!
Rates subject to change without notice.
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As Low As; Special Loan Rate Discount: 0.25% APR reduction when you set up automatic payments (AutoPay) from a People Driven Credit Union checking or savings account. This discount is already included in the "as low as" rate advertised.
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As Low As; $30,000 maximum - consolidate your high rate loans
As low as; Debt Consolidation Loans
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As Low As; Last Updated: 01/01/2026
As Low As; Special Loan Rate Discount: 0.25% APR reduction when you set up automatic payments (AutoPay) from a People Driven Credit Union checking or savings account. This discount is already included in the "as low as" rate advertised.
total not to exceed $40,000
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Maximum $15,000
Max of $20,000.00
total not to exceed $40,000
As Low As
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As Low As; Special Loan Rate Discount: 0.25% APR reduction when you set up automatic payments (AutoPay) from a People Driven Credit Union checking or savings account. This discount is already included in the "as low as" rate advertised.
total not to exceed $40,000
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As Low As; Last Updated: 01/01/2026
total not to exceed $40,000
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Variable rate
Debt Consolidation Loan APR Trend
Daily average APR for debt consolidation loans
Daily averages compiled from our database of 8,500+ banks and credit unions — updated daily.
Debt consolidation loan APRs fell 0.247 points to 10.53%, down from 10.78% last week.
What Consolidating Actually Saves You
The case for consolidating is arithmetic, not marketing: you swap variable double-digit card APRs for one fixed rate and a firm payoff date. Below is a $15,000 balance repaid over 48 months at the current consolidation average of 10.53% versus a range of typical credit card APRs.
| Repayment Option | APR | Monthly Payment | Total Interest | Interest Saved |
|---|---|---|---|---|
| Consolidation loan — current average | 10.53% | $384.25 | $3,444 | — |
| Leaving it on cards at 18% APR | 18.00% | $440.62 | $6,150 | $2,706 |
| Leaving it on cards at 22% APR | 22.00% | $472.59 | $7,684 | $4,240 |
| Leaving it on cards at 26% APR | 26.00% | $505.76 | $9,276 | $5,832 |
The 18%, 22%, and 26% figures are illustrative points across the range card issuers commonly charge, not a published average — check your statements for your actual APRs. Every row assumes the same fixed 48-month payoff; paying only card minimums would stretch the timeline for years and raise the interest far above what’s shown. Consolidation only delivers these savings if the paid-off cards stay paid off.
When Consolidation Works — and When It Doesn’t
Consolidation is a rate-arbitrage tool, not debt relief. It helps in some situations and quietly costs money in others. Be honest about which one you’re in.
It works when the new APR is genuinely lower
Compare the loan APR against the weighted average of what you owe now, not against your worst card. Weight each balance by its size — a 27% APR on $500 matters far less than 19% on $12,000. If the loan doesn’t beat that blended number after any origination fee, it isn’t saving you anything.
It works when you keep the term short
Stretching $15,000 from a 3-year to a 7-year payoff drops the monthly payment attractively and can still increase total interest even at a lower rate. If the goal is to pay less, hold the term at or below what you’d have realistically taken to clear the cards.
It fails when the cards get used again
This is the single most common way consolidation backfires. The loan pays the cards to zero, the available credit is tempting, and a year later the borrower carries the loan and a rebuilt card balance. If you can’t commit to leaving them alone, address the spending first.
It fails when the real problem is cash flow
If the minimums are unaffordable because income doesn’t cover essentials, a lower rate won’t fix that — and applying with strained credit tends to produce quotes that beat nothing. A non-profit credit counselling agency can negotiate directly with issuers, which is a different and sometimes better tool.
About Our Debt Consolidation Rate Database
This page tracks loans lenders specifically market for debt consolidation, drawn from the thousands of verified rates in our database. Every APR is sourced directly from the lender’s own website and re-verified regularly. Mechanically these are personal loans — see personal loan rates for the full range, since a general-purpose loan at a lower APR consolidates debt just as well.
The lowest verified consolidation APR we’re showing is 4.50% APR from Benton County Schools Credit Union. Advertised APRs are the lender’s best-qualified rate, so treat them as the floor of a range. Since consolidation applicants often carry high utilisation — which itself weighs on your score — prequalifying with a soft credit check matters more here than on most products.
Consolidation Loan vs. the Alternatives
| Feature | Consolidation Loan | 0% Balance Transfer | Home Equity Loan / HELOC | Credit Counselling Plan |
|---|---|---|---|---|
| Typical Cost | ● Fixed mid-range APR | ✓ 0% during the promo | ✓ Usually lowest APR | ● Reduced rates + small monthly fee |
| Best Balance Size | Any — scales to large balances | Small enough to clear in 12–21 months | Large, when equity exists | Any, when payments are unaffordable |
| What You Risk | ✓ Nothing pledged | ● Rate snaps up on any remaining balance | ✗ Your home | ● Accounts usually closed during the plan |
| Upfront Cost | ● Origination fee up to ~10% | ● Transfer fee, typically 3–5% | ● Closing costs possible | ✓ Low setup fee |
| Fixed Payoff Date | ✓ Yes | ✗ Only if you clear it in time | ✓ Yes for loans; no for HELOCs | ✓ Yes, typically 3–5 years |
General comparison for educational purposes; terms and eligibility vary by provider and credit profile. Borrowing against your home converts unsecured debt into secured debt — missed payments can put the property at risk. Debt settlement is a different product from credit counselling and can seriously damage your credit. MonitorBankRates is not a lender, counselling agency, or financial advisor.
Debt Consolidation Savings Calculator
Enter what you owe now and what you’re paying on it, then compare against a consolidation loan. The APR is prefilled with the current average — click a rate on the right to apply a real offer.
Both scenarios assume the same fixed repayment term, so this isolates the effect of the rate. In reality, paying only card minimums extends the payoff for years and costs far more than the “stay put” figure shown — meaning this estimate is conservative. Assumes no new charges on the paid-off accounts. This tool is for illustration and is not a loan offer.
Frequently Asked Questions about Debt Consolidation Loans
What is a debt consolidation loan?
Will debt consolidation hurt my credit score?
How much can I save by consolidating debt?
Banks vs. credit unions for consolidation loans?
What debts can I consolidate?
Top Debt Consolidation Rates Today
Is a balance transfer or a consolidation loan better?
- Benton County Schools Credit Union: 4.50% APR (Consolidation loan)
- Post Office Employees Credit Union: 4.75% APR (Consolidation Loan)
- HAWAIIAN ELECTRIC EMPLOYEES: 4.75% APR (Bill Consolidation Loan)
- Freedom Of Maryland Federal Credit Union: 4.99% APR (Debt Consolidation Loan)
- CASTPARTS EMPLOYEES: 5.00% APR (Debt Consolidation Loan)
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