Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Personal Loan Rates Rise to 11.044% and Signature Loan Rates to 11.291%
Personal loan rates rose 0.031 points to 11.044% APR between September 30 and October 14, and signature loan rates rose 0.090 points to 11.291%. Debt consolidation loan rates rose 0.171 points to 10.674%. A personal loan's rate is fixed once the loan is signed.
Average personal loan rates rose 0.031 points to 11.044% APR between September 30 and October 14, and rates on signature loans rose 0.090 points to 11.291%. Debt consolidation loan rates rose 0.171 points to 10.674%, the largest change of the three, from a reporting pool of 120 institutions. The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16.
Key takeaways
- Personal loan rates rose 0.031 points to 11.044% APR since September 30, after 11.009% on September 23 and 11.013% on September 30; signature loan rates rose 0.090 points to 11.291%.
- Debt consolidation loan rates rose 0.171 points to 10.674%, the largest change of the three categories, from a reporting pool of 120 institutions.
- The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16 by a 12-0 vote, its first increase since 2023; the figures in this report are dated October 14, 28 days after the announcement.
- Borrowing $10,000 over 36 months at the 11.044% personal loan average runs about $327.60 a month, with roughly $1,793 in total interest.
Personal loan rates rose 0.031 points to 11.044%
Personal loan rates by category, national average APR since April 13
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Personal loan rates averaged 10.899% on September 16, 11.009% on September 23, 11.013% on September 30 and 11.044% this week. Signature loan rates averaged 10.983% on September 16, 11.206% on September 23, 11.201% on September 30 and 11.291% this week. More than 1,600 institutions report rates in each of these two categories.
Debt consolidation loan rates rose 0.171 points to 10.674%, after 10.454% on September 23 and 10.503% on September 30. That average comes from 120 reporting institutions, the smallest pool of the three, and with a pool that size a few institutions entering or leaving can move the average. The rate any borrower is offered in these categories depends on credit profile.
Change since September 30, by loan category (percentage points)
This report's averages, September 30 to October 14. Red bars rose; green bars fell.
Personal loan rates: September 30 vs. October 14
| Loan Category | September 30 APR | October 14 APR | Change Since September 30 |
|---|---|---|---|
| Signature Loans ▲Unsecured, based on your signature and credit | 11.201% | 11.291% | ▲ +0.090 |
| Personal Loans ▲The main category; deepest lender pool | 11.013% | 11.044% | ▲ +0.031 |
| Debt Consolidation Loans ▲Loans marketed for combining balances; small reporting pool | 10.503% | 10.674% | ▲ +0.171 |
| Compare live offers: signature loans · all personal loan rates | |||
| All APRs are national averages of what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates. This comparison runs September 30 to October 14, 2026. The debt consolidation category draws from a small reporting pool. Source: MonitorBankRates.com. | |||
Personal loan rates 28 days after the Fed's increase
The Federal Reserve raised its benchmark rate to 3.75% to 4.00% on Wednesday, September 16, its first increase since 2023, by a 12 to 0 vote, and the benchmark has been at that level since. The figures in this report are dated October 14, 28 days after the announcement. A personal loan's rate is fixed once the loan is signed, so the increase reaches only offers on loans not yet signed. Lenders price offers from a borrower's credit profile, the loan term, and their own standards.
Monthly payment and interest on $10,000 at the October 14 average
At the 11.044% personal loan average, borrowing $10,000 over 36 months runs about $327.60 a month with roughly $1,793 in total interest. The credit card payoff calculator shows how long a card balance takes to clear at a given payment, and the debt consolidation calculator compares existing balances against a new loan using live MonitorBankRates rate data; both use rate data computed daily from more than 8,000 banks and credit unions. Borrowers comparing local lenders can line up Ohio personal loan rates against these national averages, and category history is on our personal loan rate trends page.
Personal loan averages on October 14
Personal loans average 11.044%, signature loans 11.291%, and debt consolidation loans 10.674%. A personal loan's rate is fixed once signed. The rate an individual borrower is offered depends on credit profile, loan term, and lender.
Data Coverage & Methodology
All APRs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates.
As of October 14, 2026, these averages were calculated from 8,036 individual rates verified at 2,756 banks and credit unions; the latest collection ran October 14, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| Personal Loans | 1,679 | 4,417 |
| Debt Consolidation Loans | 120 | 211 |
| Signature Loans | 1,695 | 4,314 |
| Total (distinct institutions) | 2,756 | 8,036 |
Category counts overlap because a lender's products can match more than one category; the total row counts each institution once across the full personal loan universe.
This report is for general information and is not financial advice. The APR any borrower receives depends on credit profile, loan term, and lender; confirm current offers with lenders before making decisions.
