Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Personal Loan Rates Hold Near 10.9%; Signature Loans at 10.983%
Average personal loan rates eased 0.021 points to 10.899% APR since our August 31 report. Signature loan rates rose to 10.983% and debt consolidation loans averaged 10.594%. The Federal Reserve announces its rate decision this afternoon; personal loan rates are fixed once a loan is signed.
Average personal loan rates eased 0.021 points to 10.899% APR between August 31 and September 16, giving back part of the 0.210-point rise recorded in the prior report. Rates on signature loans rose 0.031 points to 10.983%, and debt consolidation loan rates rose 0.066 points to 10.594% from a reporting pool of 127 institutions. The Federal Reserve announces its rate decision this afternoon; the figures in this report were collected before the announcement.
Key takeaways
- Personal loan rates eased 0.021 points to 10.899% APR after rising 0.210 points in the prior report.
- Signature loan rates rose 0.031 points to 10.983%; debt consolidation loan rates rose 0.066 points to 10.594% from a reporting pool of 127 institutions.
- Borrowing $10,000 over 36 months at the personal loan average runs about $327 a month.
- The Federal Reserve announces its rate decision this afternoon; personal loan rates are fixed once a loan is signed, and lenders price offers from credit profile, term, and their own standards rather than from an index.
Small moves in all three personal loan categories
Personal loan rates by category, national average APR since late March
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Personal loan rates eased 0.021 points to 10.899% APR, after rising 0.210 points between August 19 and August 31. The average has stayed between 10.68% and 10.92% in every report since early July. Signature loan rates rose 0.031 points to 10.983%; more than 1,500 institutions report rates in each of these two categories.
Debt consolidation loan rates rose 0.066 points to 10.594%. That average comes from 127 reporting institutions, the smallest pool of the three, and it has changed direction in every report this summer; with a pool that size, a few institutions entering or leaving can move the average. Rates behind all three averages run from roughly 2% APR to 30% APR depending on credit profile.
Change since August 31, by loan category (percentage points)
This report's averages, August 31 to September 16. Red bars rose; green bars fell.
Personal loan rates compared: August 31 vs. September 16
| Loan Category | August 31 APR | September 16 APR | Change Since August 31 |
|---|---|---|---|
| Signature Loans ▲Unsecured, based on your signature and credit | 10.952% | 10.983% | ▲ +0.031 |
| Personal Loans ▼The main category; deepest lender pool | 10.920% | 10.899% | ▼ -0.021 |
| Debt Consolidation Loans ▲Loans marketed for combining balances; small reporting pool | 10.528% | 10.594% | ▲ +0.066 |
| 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 August 31 to September 16, 2026, with figures collected before the Federal Reserve's September 16 announcement. The debt consolidation category draws from a small reporting pool. Source: MonitorBankRates.com. | |||
Personal loan pricing and today's Fed decision
The Federal Reserve announces its rate decision this afternoon; its benchmark has held at 3.50% to 3.75% since December. A personal loan's rate is fixed once the loan is signed. No index ties a personal loan offer to the Fed's benchmark; lenders price offers from a borrower's credit profile, the loan term, and their own standards, which is why offers in our data run from roughly 2% APR for the strongest credit profiles to near 30% for the weakest while the category averages sit within half a point of each other.
Borrowing $10,000 at this report's averages
At this report's 10.899% personal loan average, borrowing $10,000 over 36 months runs about $327 a month with roughly $1,769 in total interest. The debt consolidation calculator compares current debt payments against combining them into one loan, and the credit card payoff calculator calculates how long a card balance takes to pay off at a given monthly payment; both use average rates computed daily from more than 8,000 banks and credit unions. Borrowers comparing local lenders can line up Texas personal loan rates against these national averages, and category history is on our personal loan rate trends page.
The bottom line on personal loan rates
Personal loans average 10.899%, signature loans 10.983%, and debt consolidation loans 10.594% in this report. The rate an individual borrower is offered depends on credit profile, loan term, and lender, and offers in our data span roughly 2% to 30% APR. Comparing quotes from more than one lender, including credit unions, is the most direct way to get a lower rate.
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 September 16, 2026, these averages were calculated from 7,531 individual rates verified at 2,602 banks and credit unions; the latest collection ran September 16, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| Personal Loans | 1,576 | 4,075 |
| Debt Consolidation Loans | 127 | 244 |
| Signature Loans | 1,572 | 3,966 |
| Total (distinct institutions) | 2,602 | 7,531 |
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.
