Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Personal Loan Rates Climb to 11.009% and Signature Loans to 11.206%
Personal loan rates rose 0.110 points to 11.009% APR and signature loan rates 0.223 points to 11.206% in the first personal loan report since the Federal Reserve raised its benchmark rate a quarter point on September 16. A personal loan's rate is fixed once the loan is signed.
The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16, and this is our first personal loan report collected after that decision. Average personal loan rates rose 0.110 points to 11.009% APR, above the 10.68% to 10.92% range the average held from early July through our September 16 report. Rates on signature loans rose 0.223 points to 11.206%, the week's largest move, and debt consolidation loan rates fell 0.140 points to 10.454% from a reporting pool of 128 institutions.
Key takeaways
- Personal loan rates rose 0.110 points to 11.009% APR, above the 10.68% to 10.92% range they held from early July through the September 16 report.
- 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; these figures were collected September 22, six days after the announcement.
- Signature loan rates rose 0.223 points to 11.206%, the week's largest move; debt consolidation loan rates fell 0.140 points to 10.454% from a reporting pool of 128 institutions.
- Borrowing $10,000 over 36 months at the 11.009% personal loan average runs about $327 a month, with roughly $1,787 in total interest.
Personal and signature loan averages moved above 11%
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 rose 0.110 points to 11.009% APR. From early July through our September 16 report, the average stayed between 10.68% and 10.92%; this report puts it above 11% for the first time in that stretch. Signature loan rates rose 0.223 points to 11.206%, the largest move of the three categories; more than 1,500 institutions report rates in each of these two categories.
Debt consolidation loan rates fell 0.140 points to 10.454%. That average comes from 128 reporting institutions, the smallest pool of the three, and it has changed direction in every report since early 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 September 16, by loan category (percentage points)
This report's averages, September 16 to September 23. Red bars rose; green bars fell.
Personal loan rates compared: September 16 vs. September 23
| Loan Category | September 16 APR | September 23 APR | Change Since September 16 |
|---|---|---|---|
| Signature Loans ▲Unsecured, based on your signature and credit | 10.983% | 11.206% | ▲ +0.223 |
| Personal Loans ▲The main category; deepest lender pool | 10.899% | 11.009% | ▲ +0.110 |
| Debt Consolidation Loans ▼Loans marketed for combining balances; small reporting pool | 10.594% | 10.454% | ▼ -0.140 |
| 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 16 to September 23, 2026; the September 16 figures were collected before the Federal Reserve's announcement that afternoon, and the September 23 figures after it. The debt consolidation category draws from a small reporting pool. Source: MonitorBankRates.com. | |||
No index ties personal loan offers to the Fed's benchmark
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 figures in this report were collected September 22, six days after the announcement. 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 a point of each other.
The monthly payment on $10,000 at these averages
At this report's 11.009% personal loan average, borrowing $10,000 over 36 months runs about $327 a month with roughly $1,787 in total interest. The budget calculator shows where a loan payment fits among monthly income and expenses, and the credit card payoff calculator defaults to the live MonitorBankRates average card rate; both use rate data computed daily from more than 8,000 banks and credit unions. Borrowers comparing local lenders can line up North Carolina personal loan rates against these national averages, and category history is on our personal loan rate trends page.
The bottom line for personal loan borrowers
Personal loans average 11.009%, signature loans 11.206%, and debt consolidation loans 10.454% in the first personal loan report since the Federal Reserve raised its benchmark rate. A personal loan's rate is fixed once signed. 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.
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 23, 2026, these averages were calculated from 7,576 individual rates verified at 2,630 banks and credit unions; the latest collection ran September 22, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| Personal Loans | 1,580 | 4,061 |
| Debt Consolidation Loans | 128 | 243 |
| Signature Loans | 1,592 | 4,038 |
| Total (distinct institutions) | 2,630 | 7,576 |
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.
